Japan to loan ¥5 billion to Pakistan

[xyxmt]

Japan will provide ¥5 billion in low-interest loans to Pakistan in order to help the country improve its electric power infrastructure.
The Japan International Cooperation Agency and the Pakistani government signed the deal in Islamabad on Wednesday.

JICA will provide the loans in a cofinancing program with the Asian Development Bank, which will put up $400 million, and the World Bank, which will lend $600 million.

Pakistan will be the second Asian country to receive JICA soft loans for electric power projects, following Sri Lanka.

Pakistan regularly suffers daily blackouts of up to 12 hours. The country is unable to fund improvements to its power supply infrastructure because government subsidies keep electric rates low.

The cofinancing program is designed to help Pakistan set government subsidies and electric rates at adequate levels and reduce power generation costs.




Reference: The Japan News, Yomiuri Shimbun

one penny equal one Yen roughly speaking
so that will be line 5 billion pennies

 

[Tshering22]

Good, Pakistan should seize any opportunity to further their economic development.

Their politics is a similar problem as ours. Most of the money will be taken by politicians and therefore the possibility of using this in any development work is a problem. Corruption is a major problem in Pakistan just like it is in our country.

The amount of money that Japanese gave is about US$ 48,761,450. It can finance only a few urban development plans in a particular region.

However, I think giving aid and loans is not the solution. Investment is.

 

[Chak Bamu]

I think that this amount is to be spent on electric supply infrastructure. This means some hardware that is not manufactured in Pakistan, for example large hi-tension transformers at grid-stations.

Please someone correct me if I am wrong, but I think this could be a soft credit for buying Japanese hardware.

 

[Contrarian]

Please someone correct me if I am wrong, but I think this could be a soft credit for buying Japanese hardware.

It almost undoubtedly is.

 

[My-Analogous]

Wonderful, thus proven that Gov of Pakistan is No 1 beggar of the world.

Can you please tell me which country is not and they don't have loan?

 

[Luftwaffe]

Can you please tell me which country is not and they don't have loan?

Let me be specific nawaz Gov is No 1 beggar, getting loans for development might not be bad but unable to return is a big problem in case of Pakistan. When you have no water, electricity and Industries are sick...most orders are cancelled for various goods, even state bank of Pakistan and local banks have refused to fund Gov of Pakistan for various projects including youth loan scheme because it is a deep loss...We hope that any Next fair Gov would refuse to pay back loans from IMF/WB/Islamic Bank these Organizations can recover it from zardari and sharif brothers, these organizations can go to International court of Justice and take these two big thieves...

What next Gov just like dubai should do; suspend payments to these Organizations for some Years [5-10 Years] until Economy is back on Track.

 

[My-Analogous]

Let me be specific nawaz Gov is No 1 beggar, getting loans for development might not be bad but unable to return is a big problem in case of Pakistan. When you have no water, electricity and Industries are sick...most orders are cancelled for various goods, even state bank of Pakistan and local banks have refused to fund Gov of Pakistan for various projects including youth loan scheme because it is a deep loss...We hope that any Next fair Gov would refuse to pay back loans from IMF/WB/Islamic Bank these Organizations can recover it from zardari and sharif brothers, these organizations can go to International court of Justice and take these two big thieves...

What next Gov just like dubai should do; suspend payments to these Organizations for some Years [5-10 Years] until Economy is back on Track.

So don't blame Pakistan, blame PMLN

 

[Aepsilons]

Yes, I agree. @Luftwaffe may have grievances that might hold bearing, but at the same time, there are almost 200 million Pakistanis. They should not be put to blame by the corruption in their political ranks. If it offers any sense of consolation, i would like to say that even more developed countries like UK, France, Germany, Japan, the US are not immune from graft and corruption. Right now, even the modest investment on the lives of the average Pakistani is a drop of mercy and consideration. This 5 billion yen loan is a modest one, but it is a co-signatory amount with the ADF and IMF, up to 400 million USD. Also, i think that more should be done. Perhaps , in the future, Japanese government and arm such as the ODA should put more resources in assisting infrastructure projects in Pakistan. More should be done as well, as in development of education , schools, hospitals.

God Bless Pakistan and Japan.

 

[Luftwaffe]

So don't blame Pakistan, blame PMLN

Fed represents Pakistan so blame goes to Pakistan unfortunately, we would want a prosperous successful Pakistan but reality is dim unless fair New Fed Gov comes to power.

 

[l'ingénieur]

95% of this money will end up in corrupt politicians Swiss bank accounts. Stop loaning and giving aid to Pakistan. If you really want to help us; Come here with a team and develop and oversee the projects yourself.

Example:
You gave us money to improve our electricity issue? Bad idea. Come to Pakistan start up dozens of reactors etc, finish building it, hire professionals to take care and manage it then be on your merry way.

 

[Aepsilons]

95% of this money will end up in corrupt politicians Swiss bank accounts. .

This is disheartening to hear...

 

[l'ingénieur]

This is disheartening to hear...

Its the truth man

 

[Edison Chen]

95% of this money will end up in corrupt politicians Swiss bank accounts. Stop loaning and giving aid to Pakistan. If you really want to help us; Come here with a team and develop and oversee the projects yourself.

Example:
You gave us money to improve our electricity issue? Bad idea. Come to Pakistan start up dozens of reactors etc, finish building it, hire professionals to take care and manage it then be on your merry way.

Doing business in one country means you should comply with local regulation, which was made or approved by those politicians. This even cost more, that's why they just give the direct money.

 

[Aepsilons]

Its the truth man

Better that these politicians commit seppuku for their dishonorable actions on your people. Shame on them !

 

[Dubious]

Thank You Japan but please let the people know that you gave some money so that we can see that it was not used and hopefully some will grow a brain with some functional neurons to not vote for bastards who steal from their own nation!