Friends of Pakistan term $60bn requirement for development projects a ‘wish list’

[Neo]

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Friends of Pakistan term $60bn requirement for development projects a ‘wish list’

Thursday, January 08, 2009

ISLAMABAD: Many developed countries in the Friends of Pakistan (FOP)
forum have termed Pakistan’s request for obtaining $60 billion financing for 71 development projects as a “wish list” or a “long shopping list”, recommending that each donor country may be assigned one or two projects so that some concrete commitment is obtained.

When contacted, Federal Finance Secretary, Dr Waqar Masood, told The News on Wednesday that the next expert level meeting of the FOP, which was scheduled to be held by January 13, 2009, was delayed till the third week of January.

It is relevant to mention here that Islamabad will have to deliberate upon its strategy keeping in view the received feedback from donors’ capitals in order to fine tune its future course of action.

A detailed feedback obtained by Pakistan’s Foreign Office as well as Economic Ministries in the aftermath of the last FOP meeting held on November 17, 2008 at Abu Dhabi spells out in details the prevailing thinking of the developed world, which clearly states that if Islamabad did not prioritise its list, the member countries would remain non-committal to come forward to undertake these projects owing to the worldwide financial crisis, the burn of which was being felt by all the developed countries.

The donors are also suggesting Pakistan formulate short term, medium term and long term strategies in accordance with the importance of each projects. The best way should be to adopt an incremental approach because it would not be possible for the member countries to commit everything on the long demand list immediately.

Official documents exclusively available with The News state that the donor countries appreciated these efforts for undertaking this initiative in order to meet two major challenges which Pakistan is confronting, namely security issues and economic crisis.

The participants, according to the feedback, supported the ideas and plans of the Government of Pakistan. The success of this will now depend upon the hot pursuit by Pakistan.

The donor countries also raised objections on duplication of work, saying that the Friends of Pakistan and Pakistan Development Forum (PDF) are more or less the same.

The donor countries in PDF are also similar so either these two forums should be merged together or the existing PDF should be reactivated. “The PDF meetings are an annual event but no such meetings have taken place for the last two years,” the donors’ response further stated.

The bilateral donors also asked Islamabad to utilise the expertise of international financial institutions (IFIs) such as the IMF, WB and ADB. “Therefore, it was recommended that the WB may be invited in the next Experts Level Meetings to be held in January 2009,” they added.

The donors also proposed to Islamabad to establish a FATA Trust Fund under the umbrella of the World Bank so that necessary trust and confidence of members is strengthened. It was also suggested that each component of FATA Development Program such as construction, publication and distribution of books and training of teachers may be assigned to each country separately for effective implementation.

It was pointed out that since Pakistan needs long term development assistance, it is necessary to highlight the economic, political and administrative constraints for devising strategies. “There is no credible data or any necessary factsheet available for the international community on Pakistan’s economic situation,” they added.

The donor countries during the meeting were not briefed about the possible impact of the IMF program on the economy and its impact on the general masses of Pakistan. “Pakistan may request the IMF to circulate amongst all concerned countries, the necessary data and factsheet about the country, highlighting the likely impact of the IMF package on the overall economy of Pakistan. The report may also recommend additional funding to Pakistan,” it stated.

The donors are also stressing upon Pakistan to establish a close collaboration between USA and itself in all areas of mutual interest. The lukewarm attitude of USA would make other member countries of the FOP give a cold shoulder to Pakistan’s economic assistance requirements, they concluded.

[Neo]

Pakistan likely to get massive help from Friends this month

* Govt likely to revise proposals’ list
* Finance Ministry calls for more access to markets

ISLAMABAD: Donor and friendly countries are expected to lend maximum financial and technical assistance to Pakistan at the Donors’ Conference on Pakistan and a meeting of the Friends of Pakistan (FoP) forum in Washington towards the end of this month, official sources said.

Keeping the keenness of donor countries in view, the government was revising its list of projects that require international assistance, they said.

Projects: The sources said many new projects were likely to be added to a proposed list, which includes those aimed at enhancing the capacity of troops and law enforcement agencies in the war against terror.

The government had earlier tabled ventures worth $60 billion in the FoP’s last meeting in Abu Dhabi on November 17 last year, however, after the donors’ feedback, the list was being amended, they said.

The government had directed various ministries for reviewing their proposals, and a recent high-level meeting at the Presidency evaluated the changes in the projects’ list, especially those forwarded by the Interior Ministry, they added.

The Donors’ Conference, which was to be held in Beijing earlier, will include participants from international financial institutions and development funds operated by various affluent nations.

The meeting of the FoP was also rescheduled for the month’s end due to unexplained reasons, the sources said.

Access: However, they said, the Finance Ministry wanted more access to markets in the developed countries instead of financial assistance for government projects.

It said market access through free trade agreements with the United States and the European Union would benefit the country more, the sources said.

They said the names of the leaders who would represent the country in the two meetings would also be announced soon.

Following the FoP’s first meeting in Abu Dhabi, Pakistan’s Additional Foreign Secretary for South Asia Aizaz Ahmad Chaudhry had termed the meeting successful. ‘People are interested in finding ways to help,’ he had said, adding the gathering had ‘put together a framework’ for cooperation in the fields of development, security, energy and institution building.

But Pakistan’s Ambassador At Large Javaid Malik had said the FoP “is not a donors’ club meeting, this is for galvanising broader support to Pakistan”. The forum’s last meeting had deliberated upon building institutions in Pakistan, supporting the democratic government and battling extremism.

[RescueRanger]

Excellent news!

[Salahadin]

good post may allah bless pakistan keep it rainin

[UnitedPak]

With the Gwadar port fully operational, it has also become an asset to our neighbouring countries and their economies. We should expect plenty of investment in our infrastructure, specifically Baluchistan, so that European, African and Central Asian markets and resources will be opened up to each other.

Interesting times now that even Europe is facing gas shortages.

[kidwaibhai]

I dont know it just might be nationalist bluster but i would really like pakistan to develop these resources on our own and not depend on other countries because that is the only way we will take ownership of this great nation. i would however support for more market access

[ejaz007]

Pakistan likely to get massive help from Friends this month
* Govt likely to revise proposals’ list
* Finance Ministry calls for more access to markets
By Sajid Chaudhry and Tahir Niaz

ISLAMABAD: Donor and friendly countries are expected to lend maximum financial and technical assistance to Pakistan at the Donors’ Conference on Pakistan and a meeting of the Friends of Pakistan (FoP) forum in Washington towards the end of this month, official sources said.

Keeping the keenness of donor countries in view, the government was revising its list of projects that require international assistance, they said.

Projects: The sources said many new projects were likely to be added to a proposed list, which includes those aimed at enhancing the capacity of troops and law enforcement agencies in the war against terror.

The government had earlier tabled ventures worth $60 billion in the FoP’s last meeting in Abu Dhabi on November 17 last year, however, after the donors’ feedback, the list was being amended, they said.

The government had directed various ministries for reviewing their proposals, and a recent high-level meeting at the Presidency evaluated the changes in the projects’ list, especially those forwarded by the Interior Ministry, they added.

The Donors’ Conference, which was to be held in Beijing earlier, will include participants from international financial institutions and development funds operated by various affluent nations.

The meeting of the FoP was also rescheduled for the month’s end due to unexplained reasons, the sources said.

Access: However, they said, the Finance Ministry wanted more access to markets in the developed countries instead of financial assistance for government projects.

It said market access through free trade agreements with the United States and the European Union would benefit the country more, the sources said.

They said the names of the leaders who would represent the country in the two meetings would also be announced soon.

Following the FoP’s first meeting in Abu Dhabi, Pakistan’s Additional Foreign Secretary for South Asia Aizaz Ahmad Chaudhry had termed the meeting successful. ‘People are interested in finding ways to help,’ he had said, adding the gathering had ‘put together a framework’ for cooperation in the fields of development, security, energy and institution building.

But Pakistan’s Ambassador At Large Javaid Malik had said the FoP “is not a donors’ club meeting, this is for galvanising broader support to Pakistan”. The forum’s last meeting had deliberated upon building institutions in Pakistan, supporting the democratic government and battling extremism.

Daily Times - Leading News Resource of Pakistan

[dk33]

Infrastructure projects - dams and highways should definitely be prioritized. They have a multiplier effect in terms of the impact on teh economy. Power generation, irrigation, water storage, reduction in transportation costs and times etc. and they are all labor intensive which woudl help with the employment figures.

Beyond that, there definitely needs to be a sustained campaign to get Free Trade access to the US and EU markets. The US might be the easier sell of the two, given how much more it is vested in Afghanistan, and the lack of needing approval from multiple member states as in the EU.

[khanz]

I dont know it just might be nationalist bluster but i would really like pakistan to develop these resources on our own and not depend on other countries because that is the only way we will take ownership of this great nation. i would however support for more market access

true

[IceCold]

It would be better if we prioritize the projects that are related to electricity crisis and more over the gas shortage and water issue. However with Pakistan cosing up with Iran over the Ip project, how likely it is for the donor countires,most out of which run on US demands back it up.
The energy and water crises are the two main crises that the country is facing and if not dealt with utmost attention, Pakistan may likely turn into Somalia.

[Luftwaffe]

I have no confidence in this govt period! 60 billion dollars u'll see where it'll go
Instead of 60 billion dollars i would appreciate if they take one step at a time and get atleast 6 billion dollars and invest it mutually in gawadar and thar coal in a short time..I bet gawadar will boost out economy..no need for 60 billion dollars we can start other projects from gawadar's revenue just my opinion.

[Omar1984]

KEEP THE MONEY AWAY FROM ZARDARI.

Pakistan has everything but good leaders.

[fatman17]

US tries to muster another $4b for Pakistan

Salahuddin Haider

Washington—Keen to help Pakistan straighten out things,America is trying to muster another US $ 4 billion from Friends of Pakistan consortium expected to meet in Islamabad early next month authenti soures here revealed.It simultanesouly has been playing a key role in helping ease india-Pakistan tension and was awaiting eagerly last Monday about the outcome of the meeting the Indian Foreign Secretary Menon had with Pakistan Envoy Shahid Malik.

“We have been actively engaged with India and pursuading to avoid conflict with Pakistan, give up idea of troops movement and resume the dialogue process,hurt badly by the Mumbai blasts of last November.” said an official on condition of anonynimity.

Sympathy is generally found here for the not-too-old democracy,although certain amount of disillusionment about government performance can also be felt but opinion leaders conede that problems were far too accentuated to have easy soloutions.

In conversation with official agencies, intellectuals and legislators during my three days of stay here, it was candidly clear that some result has atleast been achieved by the IMF loan of $ 3.6 billion,first tranche of a total of $ 7.6 billion pledged for two years.Experts here concede that rupee has been stabilised, and eonomy has shown signs of improvement.

However. policy makers here seem to agree that the new government which took over last year in March, needs to be much more active in its policy framing and exeutions than it has been so far. These Amerians do not however comment on the internal situation in Pakistan, showing great interest though in NWFP situation. When reminded that the newly formed friends of Pakistan consortium has been a major disappointment so far, and that nothing has ome out as yet despite two meetings in New York and Dubai they replied that it takes time to process requests,but the coming meeting will be fruitful.

Pakistan needs more than 13 billion dollars to bail itself out from the morass it has been in for more than a year, but such a huge amount apppears a distant dream. Islamabad foreign policy experts have been naive enough to evoke a negative reply for cash even from a brotherly country like Saudi Arabia.

There seems a deep distrust in government’s ability to invest in projects because of corruption stories about Pakistan. However many countries are ready to finance projets provided their feasibiity is good. It is not a very happy situation but bitter facts sometime need to be accepted as reality and swallowed.

Similarly, the government apathy towards multitude of problems, absence of poliy framework so far too is causing anxiety here and in some other major capitals of the world.

[araz]

I think you missed one story -

pakobserver.net/200901/11/news/topstories01.asp





My god, your country seems to be in some real deep **** man!

You need help with everything, look at that list!! Ecommerce, telecommunication, heavy machine industry, dams, universities, agriculture, dairy..OMFG! You need to rebuild your entire country

Pakistan Zindabad indeed.

You poor beggars where is your imaan & taqya (whatever the **** it is called) now? Wheres your P@ki pride now?? Begging infront of every single country, Austria!! lol And these day dreamers dream of matching India. AHahahahaha bhooke nange bhikhari..

Oh & btw, the reason for my 'enlightning' post is the 'Indian Economy v/s Suar Economy' thread and the pigshit you pigs have poured in there. Tum sale madarchod bhikhari Hindustan ki barabari karoge?

My friend.
it is indeed sad that you have disgraced a few very valid points with language that belongs to the gutter. i could respond, but a) I am too old to indulge in flame baiting and B) I would not descend into the guttter to get to your style of writing. The norms of this forum do not allow the sort of language you have used, and you would be well advised to restrain yurself and use language becoming of your intellect.. Third world economies like India and Pakistan have glossed over their achievements to a reat extent. If you think things areall that rosy for india , then you are mistaken. You are right that India ismuch ahead of us. But what you have conveniently forgotten is indai has not been in a constant state of war like Pakistan for the last 3 decades. we have suffered through the worst period of unret the last 3 decades mostly because of the repurcussions of the war in Afghanistan.
Just like you have internal strife , so do we, in Baluchistan.
On top of that the system of governance; or the lack of : has not helped us at all. People do not want to help for nothing, they realize that the country is n a mess and most of it ,not of its own doing. American Administration has admitted it as has the west.
So whereas the Indian economy has flourished with 70 Billion of overseas investment, Pakistan has mostly relied on its own meagre resources for development, with mixed results. because of the current climate of unrest, few are interested in investing in pakistan. The apathy of the present Government has not helped either.
so in short here are some reasonable answers to your blatant flaming post. If you could respond in a similar manner then a debate will ensue otheriwse, it will be another thread destroyed by flaming.
Regards
Araz

[UnitedPak]

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I think you missed one story -

pakobserver.net/200901/11/news/topstories01.asp





My god, your country seems to be in some real deep **** man!

You need help with everything, look at that list!! Ecommerce, telecommunication, heavy machine industry, dams, universities, agriculture, dairy..OMFG! You need to rebuild your entire country

Pakistan Zindabad indeed.

You poor beggars where is your imaan & taqya (whatever the **** it is called) now? Wheres your P@ki pride now?? Begging infront of every single country, Austria!! lol And these day dreamers dream of matching India. AHahahahaha bhooke nange bhikhari..

Oh & btw, the reason for my 'enlightning' post is the 'Indian Economy v/s Suar Economy' thread and the pigshit you pigs have poured in there. Tum sale madarchod bhikhari Hindustan ki barabari karoge?

Very mature and insightful views...by a 29 year old grown adult.


BR is that way ------>