Punjab govt borrowing like there’s no tomorrow

[Leader]

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Breaking the bowl’, so goes the slogan of the Punjab chief minister Shahbaz Sharif. In public he sermonizes about “ridding the province of foreign aid and loans”. He harangues the federal government for sloshing too much through borrowing too much. But under him the province is said to have acquired loans to the tune of Rs 80 billion – and this is not overdraft from the federal government, it is just the foreign borrowings. And it too squanders them on populist measures. A case in point: The World Bank’s fund meant to support the poor get primary education was diverted to distribute laptops to college and university students – most of these to the relatively well-heeled.
There is another anomaly. The province has been unable to fully utilize development funds owing to gross inefficiency. Since the incumbent dispensation took the reins, every year, year after year, tens of billions of rupees have lapsed owing to remaining unutilized. This borrowing binge while the available funds remain unused is indeed is a contradiction that both the finance managers and their political masters would find hard to explain. Sources privy to the goings-on divulged to Pakistan Today that politicians have scant understanding of complicated financial matters, leaving the finance managers to rule the roost. But even this sorry excuse cannot absolve the politicians for not being on top of complex financial matters for which eventually the people suffer.


@PakistanToday


LIAR LIAR YOUR PANTS ON FIRE !!

[Fasih Khan]

These bloody politicians are looting and plundering Pakistan's wealth, most mercilessly. May God do justice to them. Ameen.

[Leader]

These bloody politicians are looting and plundering Pakistan's wealth, most mercilessly. May God do justice to them. Ameen.

sometime back Shahbaz Sharif was tweeting the same lies- some british/american journalist asked him to name a single project that is not foreign funded in Punjab !!

parlay darjay kay jhootay insan hain yeh, or besharam asay k jhot boltay zara na inki zuban larkharati hai na ankh jhapaktay hain...

[F.O.X]

When you have a Deficit Economy & no Capable Economists then this will continue to happen , no matter who is Ruling Punjab.

[COLDHEARTED AVIATOR]

Maybe they know the world is gonna end on 21st December 2012.

[Fracker]

When you have a Deficit Economy & no Capable Economists then this will continue to happen , no matter who is Ruling Punjab.

Also check the development work all around the punjab then start saying that money is going into wrong direction. Also then compare it with federal government or any other government to have a clear picture.

[Hyperion]

These are the same low-lifes that broke the back of the country with their grandiose imagination back in the 90's.
Instead of politicians and bureaucrats, for once we need technocrats to lead pakistan for two to three decades, and to wake up and show to the general population of what ails us!

By the way @Leader, do you think IK is the solution? LMAO.

[Rusty]

I am surprised at how little I am surprised by this news. It's like it is expected that these kind of stories will come from these criminals. They have no morals, no ability and no vision.
Time for them to permanently retire and for IK to have his chance to Save Pakistan. There is no other hope.

[Fasih Khan]

sometime back Shahbaz Sharif was tweeting the same lies- some british/american journalist asked him to name a single project that is not foreign funded in Punjab !!

parlay darjay kay jhootay insan hain yeh, or besharam asay k jhot boltay zara na inki zuban larkharati hai na ankh jhapaktay hain...

Just Can't Agree More, Bro ...

[AdeelFaheem]

sometime back Shahbaz Sharif was tweeting the same lies- some british/american journalist asked him to name a single project that is not foreign funded in Punjab !!

parlay darjay kay jhootay insan hain yeh, or besharam asay k jhot boltay zara na inki zuban larkharati hai na ankh jhapaktay hain...

Just Can't Agree More, Bro ...

Have a taste of your own

[iPhone]

Breaking the bowl’, so goes the slogan of the Punjab chief minister Shahbaz Sharif. In public he sermonizes about “ridding the province of foreign aid and loans”. He harangues the federal government for sloshing too much through borrowing too much. But under him the province is said to have acquired loans to the tune of Rs 80 billion – and this is not overdraft from the federal government, it is just the foreign borrowings. And it too squanders them on populist measures. A case in point: The World Bank’s fund meant to support the poor get primary education was diverted to distribute laptops to college and university students – most of these to the relatively well-heeled.
There is another anomaly. The province has been unable to fully utilize development funds owing to gross inefficiency. Since the incumbent dispensation took the reins, every year, year after year, tens of billions of rupees have lapsed owing to remaining unutilized. This borrowing binge while the available funds remain unused is indeed is a contradiction that both the finance managers and their political masters would find hard to explain. Sources privy to the goings-on divulged to Pakistan Today that politicians have scant understanding of complicated financial matters, leaving the finance managers to rule the roost. But even this sorry excuse cannot absolve the politicians for not being on top of complex financial matters for which eventually the people suffer.


@PakistanToday


LIAR LIAR YOUR PANTS ON FIRE !!

First of all, you have zero credibility cuz you're a PTI zealot and Pml-n basher. Second, there is nothing wrong with constructive borrowing. Third, the article is less than 200 words and makes tall accusations funds management without any research.

[Tiger Awan]

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Ppl forget this thread???


Federal gov learn something from Punjab