Edevelop
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Bullet train, Metro Bus for Karachi, Islamabad dropped
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Dillinger
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No we are not, nor have we ever been dependent on them to such an extent- when the IMF gives you money to avert a BOP crisis the point is to use it judiciously and effectively- fix the situation and get out since repayments take a lot of time as it is. It behooves any sensible nation to not go back to the IMF again after having not delivered on the promises made to them- that's when the IMF gets natty and starts pushing the country around- otherwise the IMF only sets directives- broad one's like reduce the deficit and then allows the nation in question to build a program towards that goal although the said program still must pass muster with IMF but you get some flexibility. If the nation cannot stick to its own program though..well then things get sticky.
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Jzaib
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every if NS try to enjoy with forign chicks he cant ..bcoz no one want to be with someone who got 3rd division in matric and someone who has more pathetic english then meera .. he is a disgrace to Pakistan nation...Tum kitne baycharay ho. You had high hopes but in the end you guys lost miserably. Now your leader has ran away and is enjoying with foreign chicks and saving elephants while you are defending his sorry ***. You guys are bunch of slaves. It seems like you were born to be his slaves. Enjoy the slavery while your leader enjoys with girls in UK and makes more babies
Aur please ramzan mei tu apini mentality saaf kar loo. as i said HAR LARKI MARIYAAM NAWAZ Nhie hoti ...
btw we are slaves ??we had the most democratic party in Pakistan ..rest of u r poojaris of zardari , sharifs and altaf hussian.. dads voted for them , now u voted for them , then ur childern will vote for bilawal and hamza .. and ur grand childern will vote for their childerns ..u guys are physiological slave of Sharif and bhootu family .
well atleast Im hoping for a motorway between Karachi and Lahore
Bhie yeh b josh e kitabat mei kaha tha ...
darkinsky
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Bullet train, Metro Bus for Karachi, Islamabad dropped - thenews.com.pk
ISLAMABAD: To meet the IMFs conditions, the government has put on hold its mega initiatives of Metro Bus projects for Islamabad and Karachi and the much-touted bullet train, costing Rs115billion, it is learnt.
The first victim of fiscal consolidation under the IMFs conditionalities has again been the Public Sector Development Programme (PSDP) which might be slashed to the tune of Rs115 billion by putting on hold new initiatives envisioned by the government at the time of budget 2013-14, official sources confirmed to The News here on Wednesday.
When contacted, one top official of the Planning Commission on Wednesday said nothing was clear yet on this account as these mega development schemes under new initiatives would only be undertaken by the government if the FBR achieved its desired tax collection target of Rs2,475 billion.
The new initiatives of Rs115 billion into PSDP have been linked with the performance of FBRs tax collection as in case of a shortfall these schemes will be shelved at least for the current fiscal year, said the official.
This correspondent made several attempts to contact Minister for Development Ahsan Iqbal and Secretary Planning Hassan Nawaz Tarar but got no response. The government had increased the PSDP by 50 percent, jacking it up from Rs350 billion in last financial year to Rs540 billion in the current fiscal year under which Rs115 billion were allocated with tag of new initiatives without mentioning any projects. At time of approving annual development outlay of Rs1,115 billion for federal and provincial governments, the National Economic Council (NEC) had approved indicative allocation of Rs115 billion without specifying any projects. It was believed at that time that the government wanted to implement its manifesto by putting aside money for undertaking mega schemes such as metro bus in twin cities of Rawalpindi/Islamabad and Karachi as well as kick-starting work on bullet train.
In the aftermath of agreement with the IMF staff, this new initiative with allocated amount of Rs115 billion was put on hold for the time being as the government wanted to curtail its consolidated budget deficit within the desired range of 6 percent of GDP.
On other hand, the provinces have also agreed to generate cash balance of Rs117 billion in the current fiscal year. This fiscal consolidation means that the growth is being compromised for the sake of stabilisation, said an independent economic expert.
When contacted, renowned economist, Dr Hafeez A Pasha, who is also former minister for finance and development, said the cash balance of provinces to the tune of Rs117 billion means that they were going to reduce their development budgets.
The provinces, he said, posted deficit budgets of Rs50 to 60 billion in the current fiscal year which increased to Rs92 billion after incorporation of salary increases in the range of 10 to 15 percent by the provincial governments.
He said that the government increased federal development budget by 50 percent in order to stimulate sluggish economic activities and it was the right approach but fiscal framework might witness slashing down public sector expenditures that would result into compromising growth prospects of the country over the next few years.
ISLAMABAD: To meet the IMFs conditions, the government has put on hold its mega initiatives of Metro Bus projects for Islamabad and Karachi and the much-touted bullet train, costing Rs115billion, it is learnt.
The first victim of fiscal consolidation under the IMFs conditionalities has again been the Public Sector Development Programme (PSDP) which might be slashed to the tune of Rs115 billion by putting on hold new initiatives envisioned by the government at the time of budget 2013-14, official sources confirmed to The News here on Wednesday.
When contacted, one top official of the Planning Commission on Wednesday said nothing was clear yet on this account as these mega development schemes under new initiatives would only be undertaken by the government if the FBR achieved its desired tax collection target of Rs2,475 billion.
The new initiatives of Rs115 billion into PSDP have been linked with the performance of FBRs tax collection as in case of a shortfall these schemes will be shelved at least for the current fiscal year, said the official.
This correspondent made several attempts to contact Minister for Development Ahsan Iqbal and Secretary Planning Hassan Nawaz Tarar but got no response. The government had increased the PSDP by 50 percent, jacking it up from Rs350 billion in last financial year to Rs540 billion in the current fiscal year under which Rs115 billion were allocated with tag of new initiatives without mentioning any projects. At time of approving annual development outlay of Rs1,115 billion for federal and provincial governments, the National Economic Council (NEC) had approved indicative allocation of Rs115 billion without specifying any projects. It was believed at that time that the government wanted to implement its manifesto by putting aside money for undertaking mega schemes such as metro bus in twin cities of Rawalpindi/Islamabad and Karachi as well as kick-starting work on bullet train.
In the aftermath of agreement with the IMF staff, this new initiative with allocated amount of Rs115 billion was put on hold for the time being as the government wanted to curtail its consolidated budget deficit within the desired range of 6 percent of GDP.
On other hand, the provinces have also agreed to generate cash balance of Rs117 billion in the current fiscal year. This fiscal consolidation means that the growth is being compromised for the sake of stabilisation, said an independent economic expert.
When contacted, renowned economist, Dr Hafeez A Pasha, who is also former minister for finance and development, said the cash balance of provinces to the tune of Rs117 billion means that they were going to reduce their development budgets.
The provinces, he said, posted deficit budgets of Rs50 to 60 billion in the current fiscal year which increased to Rs92 billion after incorporation of salary increases in the range of 10 to 15 percent by the provincial governments.
He said that the government increased federal development budget by 50 percent in order to stimulate sluggish economic activities and it was the right approach but fiscal framework might witness slashing down public sector expenditures that would result into compromising growth prospects of the country over the next few years.
Argus Panoptes
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Bullet train, Metro Bus for Karachi, Islamabad dropped
To meet the IMF’s conditions, the government has put on hold its mega initiatives of Metro Bus projects for Islamabad and Karachi and the much-touted bullet train, costing Rs115billion, it is learnt.
...........
Sad to say, but this is only the beginning. The problem of "Yes, we have no money" will cause many more problems in the next few years.
Leader
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agus pugas !
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Chachu Aero, chachu Aero: Kia Pakistan mein bhee bullet train hoti hai? Bato no chachu..
Why don't you answer chachu...
You are making me angry chachu....
Kia hua bullet train ko chachu.....???
Bullet train ka "masala" khatam ho gaya hai ... it will take 5 more years for Noora panday to refill the bullet...at the state of the art raiwind chutiya group of industries...
AUSTERLITZ
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Not india.We have solid forex reserves.We are cool bro.
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mr42O
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Who ever thought they will build bullet train and jangla service as in Lahore must be dumb.
Just use ur brain how could build bullet train when dont have electricity?? It was just election slogans and i am happy no jangla buss service in other cities.
Just use ur brain how could build bullet train when dont have electricity?? It was just election slogans and i am happy no jangla buss service in other cities.
gslv mk3
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The bullet train proposal is too costly, considering the level of technology and infrastructure needed,they can build two new metro rails and overhaul nearlly all of Pakistani Railways for that,but the cancellation of BRT s are depressing news for you guys
@cb4 are the metro rail projects approved??good for you guys
The bullet train proposal is too costly, considering the level of technology and infrastructure needed,they can build two new metro rails and overhaul nearlly all of Pakistani Railways for that,but the cancellation of BRT s are depressing news for you guys
@cb4 are the metro rail projects approved??good for you guys
@cb4 are the metro rail projects approved??good for you guys
The bullet train proposal is too costly, considering the level of technology and infrastructure needed,they can build two new metro rails and overhaul nearlly all of Pakistani Railways for that,but the cancellation of BRT s are depressing news for you guys
@cb4 are the metro rail projects approved??good for you guys
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pak-marine
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ganjay brothers have decided to leave us with the bullets for now
darkinsky
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PMLN is a punjabi party, its very clear now
according to their logic developing other areas of pakistan is fruitless
they will keep performing in punjab and getting votes from punjab
who gets most seats in punjab wins pakistan
actually pakistan is getting mandate from a party who is only limited to punjab
beta haan hoti he bullet train, google kerna seekhto beta
according to their logic developing other areas of pakistan is fruitless
they will keep performing in punjab and getting votes from punjab
who gets most seats in punjab wins pakistan
actually pakistan is getting mandate from a party who is only limited to punjab
Chachu Aero, chachu Aero: Kia Pakistan mein bhee bullet train hoti hai? Bato no chachu..
Why don't you answer chachu...
You are making me angry chachu....
Kia hua bullet train ko chachu.....???
beta haan hoti he bullet train, google kerna seekhto beta
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