ISLAMABAD: Prime Minister Syed Yusuf Raza Gilani on Sunday said the United States should channelise disbursement of its financial assistance to Pakistan through the existing mechanism of the government of Pakistan. He underlined the fact that disbursement through NGOs involves out of proportion administrative expenses, sometimes to the extant of 35 - 40% and hence, actual amount spent on the welfare of the public gets drastically reduced. The Prime Minister was talking to the US Deputy Secretary of State for Resources and Management, Jacob J. Lew who accompanied by the Acting Administrator of USAID, Alouso L. Fulgham called on him here at the PM House on Sunday evening. Prime Minister Gilani suggested that the US Deputy Secretary of State should have detailed meetings with the Minister and the Secretary of Finance to work out mutually agreed modalities on the procedure of financial assistance. He pointed out that the Benazir Income Support Programme, Higher Education Commission, the existing basic education and the basic health units in Pakistan should be considered for the US assistance for education, health and poverty alleviation sectors.Monday, September 07, 2009
Monday, September 07, 2009
GILGIT : The Federal Government would spend Rs 6.5 million on socio-economic uplift of region as it has approved Annual Development Plan (ADP) for 2009-2010, Senior officials of the administration said. The ADP 2009-2010 was approved by the Chairman Gilgit-Baltistan Qamar Zaman Kaira and accordingly the plan was circulated among all government departments, Secretary Planning and Development, Abdus Sattar told APP by phone. He disclosed some 767 development schemes would be executed this year and out of them 94 were new projects in the ADP. The government is specially focusing on power sector so that the huge water potential is harnessed for the energy production.
Monday, September 07, 2009
KARACHI: The sugar mills owners have expressed their inability to pay off/retire Rs 40 billion loans and advances that they owed to State Bank of Pakistan (SBP) due to ongoing crackdown against the millers by the government. Talking to Chairman Pakistan Sugar Mills Association (PSMA) Iskandar Khan said due to the crackdown of law enforcement agencies
Japan suspends aid to Third World
Posted by imdurrani Labels: Asia, global finance, pakistan, world financeMonday, September 07, 2009 Visit Finance.KalPoint.Com for latest financial stories...
The channel said that Karachi Circular Railway (KCR) project is in jeopardy following the Japanese government decision.
Monday, September 07, 2009 Visit Finance.KalPoint.Com for latest financial stories...
The macroeconomic framework for expenditures between the federation and provinces would also be determined for the next five years along with the NFC award. It is learnt that the meeting discussed growth rate for the future expansion of expenditures as well as vertical distribution formula between the federation and the provinces.
The new macroeconomic framework of provinces for five years would be based on the economic reports of the provinces and their future expenditures would be calculated on these grounds.
Secretary Finance Salman Siddique later talking to media on the sidelines of the launching of World Bank Pakistan Tax Policy Report, said that once the benchmarking of federal and provincial expenditures is completed, a clear macroeconomic picture would be available for determination of federal and provincial governments shares in federal revenues.
The issues before the technical committee are to determine federal and provincial expenditures, Gross Domestic Product (GDP) growth rates to be achieved in next five years and as to what should be the base for vertical distribution of resource between federal government and four provinces.
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