ADB plans $7.1 billion for inclusive growth

[خره مينه لګته وي]

ISLAMABAD : Asian Development Bank (ADB) will provide $7.1 billion in financing to help Pakistan achieve inclusive and sustainable growth over the next three years, its senior official said.

“ADB plans to significantly increase the country’s sovereign operations to $7.1 billion over 3 years,” Wencai Zhang, vice president of the Manila-based lender said in a statement.

“Along with its continued focus on energy, infrastructure development, and institutional reforms, ADB is also reengaging in education and health, and social safety net through income support program.”



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Source : The News

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[gangarambihari]

ISLAMABAD : Asian Development Bank (ADB) will provide $7.1 billion in financing to help Pakistan achieve inclusive and sustainable growth over the next three years, its senior official said.

“ADB plans to significantly increase the country’s sovereign operations to $7.1 billion over 3 years,” Wencai Zhang, vice president of the Manila-based lender said in a statement.

“Along with its continued focus on energy, infrastructure development, and institutional reforms, ADB is also reengaging in education and health, and social safety net through income support program.”



Click on the link given below for further reading.......
_____________________

Source : The News

good move .

 

[wali87]

ADB is a much more viable option. Just DO NOT go to the IMF!

We need to fix our country internally, atleast that was the promise. 10billion dollars deficit is not such a big amount if you make the right policies. Policies to encourage exports and discourage imports.

We used to have one the largest booming textile industry in the world which has been screwed inside out by the wrong policies of mr zardari and the nawaz brothers. A small example is how they allowed the import of cotton from India, China and Afghanistan! When we have such excellent quality cotton available in Pakistan. Similarly, without bias, target the sugar mafia who have been draining the life out of this country and have become billionaires. Do you know we produce surplus sugar every year yet we are forced to import it because the sugar barrens export most of it.

Put an annual quota on imports related to electronics for a while, particularly cell phones.

Fix the damned PIA, reduce the over inflated workforce. We have 398 people working on a single plane compared to the normal average of 37 people per aircraft.

There are several other steps that could be taken to avoid the IMF now that we have an honest leader. However I don’t understand whose advising Khan on the economy and why Khan is falling for it.

That’s what I mean when I say we should explore out of the box options.

 

[gangarambihari]

ADB is a much more viable option. Just DO NOT go to the IMF!

We need to fix our country internally, atleast that was the promise. 10billion dollars deficit is not such a big amount if you make the right policies. Policies to encourage exports and discourage imports.

We used to have one the largest booming textile industry in the world which has been screwed inside out by the wrong policies of mr zardari and the nawaz brothers. A small example is how they allowed the import of cotton from India, China and Afghanistan! When we have such excellent quality cotton available in Pakistan. Similarly, without bias, target the sugar mafia who have been draining the life out of this country and have become billionaires. Do you know we produce surplus sugar every year yet we are forced to import it because the sugar barrens export most of it.

Put an annual quota on imports related to electronics for a while, particularly cell phones.

There are several other steps that could be taken to avoid the IMF now that we have an honest leader. However I don’t understand whose advising Khan on the economy and why Khan is falling for it.

That’s what I mean when I say we should explore out of the box options.

pakistan should go for ADB .

 

[TopCat]

ADB is a much more viable option. Just DO NOT go to the IMF!

We need to fix our country internally, atleast that was the promise. 10billion dollars deficit is not such a big amount if you make the right policies. Policies to encourage exports and discourage imports.

We used to have one the largest booming textile industry in the world which has been screwed inside out by the wrong policies of mr zardari and the nawaz brothers. A small example is how they allowed the import of cotton from India, China and Afghanistan! When we have such excellent quality cotton available in Pakistan. Similarly, without bias, target the sugar mafia who have been draining the life out of this country and have become billionaires. Do you know we produce surplus sugar every year yet we are forced to import it because the sugar barrens export most of it.

Put an annual quota on imports related to electronics for a while, particularly cell phones.

Fix the damned PIA, reduce the over inflated workforce. We have 398 people working on a single plane compared to the normal average of 37 people per aircraft.

There are several other steps that could be taken to avoid the IMF now that we have an honest leader. However I don’t understand whose advising Khan on the economy and why Khan is falling for it.

That’s what I mean when I say we should explore out of the box options.

IMF is not your enemy. They will ask you to do hard reform which is good for your economy. IMF program is not good for politician as they are not popular and easy.

 

[Lincoln]

IMF is not your enemy. They will ask you to do hard reform which is good for your economy. IMF program is not good for politician as they are not popular and easy.

IMF is the true debt trap. Turkey just escaped it's debt and you are already seeing how upset the USA is on it, they may not show it directly but it is indeed the reason unless you think they would actually give a flying **** about some pastor in Turkey being jailed and tried for treason to ruin NATO relations with a nation.

 

[TopCat]

IMF is the true debt trap. Turkey just escaped it's debt and you are already seeing how upset the USA is on it, they may not show it directly but it is indeed the reason unless you think they would actually give a flying **** about some pastor in Turkey being jailed and tried for treason to ruin NATO relations with a nation.

I m not saying you take money from imf but you can certainly take their monetary reform advise.

 

[Azog]

ADB is a much more viable option. Just DO NOT go to the IMF!

We need to fix our country internally, atleast that was the promise. 10billion dollars deficit is not such a big amount if you make the right policies. Policies to encourage exports and discourage imports.

We used to have one the largest booming textile industry in the world which has been screwed inside out by the wrong policies of mr zardari and the nawaz brothers. A small example is how they allowed the import of cotton from India, China and Afghanistan! When we have such excellent quality cotton available in Pakistan. Similarly, without bias, target the sugar mafia who have been draining the life out of this country and have become billionaires. Do you know we produce surplus sugar every year yet we are forced to import it because the sugar barrens export most of it.

Put an annual quota on imports related to electronics for a while, particularly cell phones.

Fix the damned PIA, reduce the over inflated workforce. We have 398 people working on a single plane compared to the normal average of 37 people per aircraft.

There are several other steps that could be taken to avoid the IMF now that we have an honest leader. However I don’t understand whose advising Khan on the economy and why Khan is falling for it.

That’s what I mean when I say we should explore out of the box options.

ADB doesn't provide loans for such purposes. You need $9 to 12 billion immediately for Pakistan not go to bankcrupt.

Increasing export within months is not easy as you think, there is international market and compeition of quality standard and price. th. What industry we really have to increase the export so soon? There is little room for the growth with the product we are selling

You think an investor will set up new products and it will start selling. It takes years to build credibility, required standard and price competitive.

Increasing export is a long term game

 

[Indus Pakistan]

Put an annual quota on imports related to electronics for a while, particularly cell phones.

Agreed. Why not place a quota and then offer one of the Chinese manufactuers to set up a plant in PK with a 5 year captive market guarantee?

 

[Pakistansdefender]

Good move.
So has this been really approved.
It would be a relief to the economy and business community.

 

[Ali Tariq]

So has this been really approved

 

[wali87]

[QUOTE="Azog, post: 10842981, member: 169971"

Increasing export is a long term game[/QUOTE]

That is correct, but once you put in place a policy and are true in implementing it, everything else automatically materialises around it.

We export and re import not only sugar but also wheat btw. I don’t understand the logic in that.

We already are bankrupt, we have been since ppp left the government but borrowing is not the solution. That is precisely what the nawaz brothers have been doing these past 5 years. Borrowed 35 billion dollars The result? We are bankrupt once again at the end of their 5 year tenure. So if the current government follows the same route which unfortunately they are, then I’m afraid the situation at the end of the next five years could be worse than it is now. I’m not a blind follower, my reasons are ideological. I truly believe khan will make a difference. Ridding this country of foreign strings that come with loans. That’s one the main reason I voted for the first time in my life. That’s the only way we can prosper.

 

[Nilgiri]

ADB doesn't provide loans for such purposes. You need $9 to 12 billion immediately for Pakistan not go to bankcrupt.

Spot on. This is very different (development based) loan that would have happened under any Pak administration. Basically funding gets released by ADB only as the development projects commence...i.e long term capex based (and cannot be used for other purposes).

This is very different from the CAD pressure based soft loan that Pakistan wants (in short term)...that only IMF (outside of potentially China who are already leveraged for CPEC) can really forseeably provide.

 

[خره مينه لګته وي]

So has this been really approved

https://twitter.com/x/status/1048890742368849922

 

[Nilgiri]

Agreed. Why not place a quota and then offer one of the Chinese manufactuers to set up a plant in PK with a 5 year captive market guarantee?

Honestly Pakistan does not even need tariffs and quotas for this (these can be abused later and create inefficiencies and dependencies). They can just make industrial zones and export zones etc for electronics assembly (and make them tax and excise free). Pakistan labour is cheaper than Chinese labour by enough amount now.....even considering what is available and trained sufficiently in Pakistan's labour pool. With enough tax holiday, the capacity is generated automatically to propel it past that holiday (and earnings can be reinvested in more training and moving up the chain as feasible by the free market dynamics)...because the ROI for the investor is largely guaranteed and shielded...but the assets are more inelastically entrenched (i.e a long term benefit capture). Its the basic tiger economy model.

This all will upset the vested interests and karachi-cabal we talked about earlier though. Pakistan needs to focus its govt/bureaucracy on a few focused things like rule of law, standards etc (things that are equally accessible to every citizen)...rather than partitioning and micro managing every economic related thing it can (because then it just becomes the tool of the vested interests that line their pockets). As few govt levers in the market is the best policy for both jobs and growth.