Tag Archives: Sinking

Pakistan Economy: Sinking Like A Rock, says Asian Development Bank.

Sinking like a rock: Slim chances of recovery for Pakistan’s directionless economy, says ADB

ISLAMABAD: Amid deep-rooted concerns over a “directionless” economy due to failure of the previous government and inability of the caretaker setup to take immediate meaningful steps, the Asian Development Bank has warned that Pakistan’s current growth model is unsustainable that also undermines future prospects.

In its Asian Development Outlook, the Manila-based lending agency has painted an extremely bleak picture of Pakistan’s economy that is “directionless” and immediate recovery chances are almost nil amid a worsening balance of payments position.

“A difficult political situation stalled effective policy response to macroeconomic and structural problems, especially regarding energy, and the end of the government’s 5-year term in mid-March limited political scope for major policy or structural reforms,” it said.

The economic developments in this fiscal year are unfolding along broadly similar lines as previous year, but with “deepening concerns about sustainability and the adequacy of forex reserves”.

A missing link in the ADB’s analysis of political failures is the role of bureaucrats in running the affairs of the government who often do not disclose actual extent of problems to the leadership.

Continue reading Pakistan Economy: Sinking Like A Rock, says Asian Development Bank.

Canada drops out of top 10 most developed countries list

The United Nations human development index now ranks Canada as 11th

By the Canadian Press

Canada has slipped out of the top 10 countries listed in the annual United Nation’s human development index — a far cry from the 1990s when it held the first place for most of the decade.

The 2013 report, which reviews a country’s performance in health, education and income, places Canada in 11th place versus 10th last year.

Continue reading Canada drops out of top 10 most developed countries list

Deathly Silence Prevails in Pakistan

By Gwynne Dyer

While the people of Arab states are overthrowing dictators, Pakistan is sinking deeper into intolerant Islamic extremism. Emboldened by the meek response of the people to the assassinations of Salman Taseer and Shahbaz Bhatti, Islamist vigilantes will now become more brutal.

At least with a dictatorship, you know where you are  and if you know where you are, you may be able to find your way out. In Pakistan, it is not so simple.

While brave Arab protesters are overthrowing deeply entrenched autocratic regimes, often without even resorting to violence, Pakistan, a democratic country, is sinking into a sea of violence, intolerance and extremism. The world’s second-biggest Muslim country (185 million people) has effectively been silenced by ruthless Islamist fanatics who murder anyone who dares to defy them. What the fanatics want, of course, is power …

Read more : Scribd

Dedicated to Shaheed Shahbaz Bhatti

The legislator, MNA, Asiya Nasir, elected on a reserved women’s seat from Balochistan, the only minority female legislator in the Federal Assembly and speaking the day after the murder Shahbaz Bhatti. She holds a Masters in English literature from the Government Girls College, Quetta and a certificate in Teachers’ Training and is a member of the NGO Aurat Foundation. She has been a member of the House since 2002 when she was elected on a reserved seat for minorities.

MNA, Asiya Nasir protesting in the Federal Assembly against the brutal assassination of federal minister “Shahbaz Bhatti”. She is speaking harsh but truth. No one is a superior creature than other human beings. God, Allah, Jesus, Bhagwan, what ever has created human all are alike without any discrimination. If any one believes in God, he should respect and treat every human equally.

Pakistani Christians didn’t come from outside, they always lived here… Christianity came… Just like Islam came… in the same way Hindus were always here and Sikhs started their religion in 17-18th century.

Basically she is saying Pakistan is sinking!!! She was condemning the death of Shahbaz Bhatti, the minorities minister who has been assassinated by terrorists in Pakistan. She said her daughter even wants to leave this country but she has told her that this is our motherland, and they will always remain here no matter what. She is sickened by terrorism in Pakistan. …

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Pakistani economist Mahbub ul Haq was particularly concerned about Pakistan, and India. Both were well down in his index, below even Cameroon and Equatorial Guinea. South Asia, he wrote in 1995, is sinking “into a quagmire of human deprivation and despair”. He was shocked that it had fallen behind sub-Saharan Africa, to become the most deprived region in the world.

Mahbub ul Haq, a heretic among economists, died on July 16th 1998, aged 64.

…… Mr Haq said he was not sure whether the countries of South Asia had the political will to cut their arms bills and finance their “essential human goals”. In what he called his “intellectual journey” he had moved from idea to idea. In his World Bank days he had on his desk a notice which said, “It is too late to agree with me: I’ve changed my mind.” Critics said it showed his lack of judgment; admirers praised his flexibility. It was probably just a sign of his charm.

To read full article : Economist