Hoti turns down ADB's 650mn loan offer

[somebozo]

In my opnion..he is the man...borrowed money wether on intrests or soft loans is never good..KP should better promote favourable investment climate to woo in investors rather than shackling itself to loan sharks.

Hoti turns down ADB's 650mn loan offer
PESHAWAR: Chief Minister Khyber Pakhtunkhwa Ameer Haider Khan Hoti has turned down offer of lending up to US$ 650 million from Asian Development Bank for reconstruction of damaged irrigation, transport and education sectors due to 2010 floods keeping in view long term interests of the government and the people and stressed less reliance on foreign loans for betterment of economy and damages reconstruction.

It merits a mention here that ADB, in connection with reconstruction of damages in aforementioned sectors, has shown interest in provision of loan worth US$ 650 million with one percent mark up for 32 years and finalization of procedural action till March 31.

The Chief Minister stressed dependency on available resources and turned down the loan apparently carrying soft conditions. Keeping in view future financial constraints of the province, the Chief Minister bid adieu to the loan with thanks

 

[My-Analogous]

Wise thing to do. we should always invest our own resources wisely and if we do that in next ten to fifteen years we don't need any help

 

[BelligerentPacifist]

Hoti was previously running after the Americans even for small power projects that engineers from KP could achieve with no foreign funding. Why the change of heart now? No cut for him?

 

[muse]

I've read this piece over and over again - I still don't understand what it's about -- So this loan package has been rejected - why? what were the merits or lack thereof? Whatare the politics of the piece? Or is it just enough that the loans were rejected ?? What the heck is the thread about??

 

[ares]

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