Showing posts with label energy. Show all posts
Showing posts with label energy. Show all posts

Thursday, February 23, 2012


Shaping the Future of Journalism
Agahi Awards 2012 Categories:
  1. MEDIA ETHICS
  2. TERRORISM AND EXTREMISM
  3. CORRUPTION
  4. CONFLICT
  5. INTERFAITH
  6. GENDER
  7. HUMAN RIGHTS
  8. HEALTH
  9. ENERGY, WATER AND FOOD SECURITY
  10. ENVIRONMENT
  11. EDUCATION
  12. GOVERNANCE
  13. CRIME
  14. PHOTO-JOURNALISM
  15. Misc.
These will be selected on different mediums which are:
  • Print - English
  • Print - Urdu
  • Print - Regiuonal Language
  • Television - Urdu
  • Television - English
  • Television - Regional Language
  • Online Journalism
  • Blog
  • etc.
Send your entries to:







AGAHI AWARDS 2012
Address: 250-B, North Service Road, E-11/3, Islamabad - 44000, Pakistan
email: awards@agahi.org.pk
web: http://www.agahiawards.com

Thursday, July 22, 2010

The Asian Development Bank is due to approve a USD500 million budgetary support to Pakistan

The Asian Development Bank is due to approve a USD500 million budgetary support to Pakistan. According to The Express Tribune, the bank’s executive board will vote on Pakistan’s request Aug. 27.


The ADB funding forms part of the Accelerated Economic Transformation Program, approved in September 2008.

Pakistan's economy has been seriously affected by the skyrocketing international prices of oil and food. The severity of the exogenous shocks, aggravated by the uncertainties surrounding the recent political transition, has been felt on several fronts over the last fiscal year (June 2007-July 2008): the year-on-year overall domestic inflation reaching 24% from 7%; deterioration in the external accounts with current account deficit widening to 8.5% of GDP from 4.8%; depreciation of the Pakistani rupee (PRs) by 22%; foreign exchange reserves declining by more than 40% to $6 billion (about 1.5 months of imports); and unprecedented fuel, food and electricity subsidy needs, which rose four-fold to PRs408 billion ($6 billion) from their original budgeted level. Symptomatic of the declining investor confidence, the Karachi stock index dropped by more than 35% during April-July 2008, and the spreads on sovereign debt have surpassed 1,100 basis points at end-August 2008 from less than 200 basis points in early 2007. The outcome of all this has been a decline in real gross domestic product (GDP) growth to 5.8% from 7% during the previous year.

These challenges facing Pakistan have come despite steady real GDP growth of 7.3% on average per year during FY2004-FY2007. But they have also come in the context of, as well as due to, persistent fiscal, trade and investment imbalances and lack of any significant structural changes in the economy.

Pakistan now needs to transform itself in three directions:
First, it has to address the immediate distortions facing the economy, particularly in the agriculture and energy sectors. The pricing and procurement system for wheat needs to be restructured, and subsidies better targeted to benefit the poor and vulnerable. Untargeted wheat subsidies cost the Government PRs40 billion ($600 million) in fiscal year (FY) 2008. In the electricity sector, Pakistan doest not yet have an automatic tariff adjustment mechanism. The Government needs to reform the subsidy system in the sector, since it has not been able to settle the payments owed to distribution companies, which has resulted in a vicious circular debt problem and debt overhang. This needs to be addressed urgently to resolve the present energy crisis. Electricity subsidies are estimated to have cost PRs133 billion in FY2008 ($2 billion). In addition to these subsidy needs, an estimated $1.6 billion is required to partially protect the poor.

Second, Pakistan needs to strengthen financial intermediation to facilitate structural transformation. At the macro level, the Government has relied heavily on the central bank for its fiscal requirements, a practice that needs to be reversed. In parallel, the legal and regulatory framework should be strengthened to manage risks more effectively in the financial sector, promote consumer confidence, and deepen financial intermediation. 

Third, over the medium to long term, the production and trade structure of the economy needs to be transformed so Pakistan can compete more effectively in the global economy. A deeper industrial base is vital, along with a more productive agricultural sector, greater value creation in the service sector, and far greater export sophistication. To achieve this, the Government has to (i) address short-term policy and institutional distortions, (ii) identify industries where it might compete on a global scale, and (iii) attract private sector investments.
ADB has worked in the past with Pakistan alongside other development partners to support reforms and investments in all three directions. The challenges now facing the country are diverse and significant that immediate assistance is needed to address the short term constraints and to provide safety nets for the poor, while paving way for boosting Pakistan's competitiveness.
ADB was scheduled to approve the budgetary support in May 2010 but deferred the decision due to the Pakistani government’s failure to provide a comprehensive financing plan to rid the inter-corporate debt of state-run companies.

Tuesday, June 22, 2010

Holbrooke Promises More Transparency, Accountability in USAid to Pakistan




















Ambassador Richard Holbrooke, special representative for Afghanistan and Pakistan. Photo by: U.S. Department of Agriculture / CC BY 2.0


U.S. assistance to Pakistan will be more transparent and accountable, the U.S. top envoy to Pakistan has asserted.*

Richard Holbrooke was responding to a letter by U.S. Sen. John Kerry (D-Mass.), where the Senate Foreign Relations Committee chairman expressed concern that the Pakistani government may not be capable enough to use the USD7.5 billion assistance properly.

In his letter dated June 14, Holbrooke informed Kerry that the government is leveraging U.S. assistance to support reforms that will encourage the Pakistani government to allocate more of its local funds for health, education and other key sectors.
The U.S. strategy for Pakistani aid allocation also includes support for structural reforms to boost investments in the country’s energy and education sectors, Holbrooke said. He added that his team is coordinating with the Asian Development Bank’s energy task force and the U.K.-Pakistan joint education task force on these initiatives.

The U.S. is slowly changing the way it does business in Pakistan in order to better integrate the priorities and plans of the Pakistani government, Holbrooke wrote in his letter. He noted that allocation of money and the identification of projects and partners have just began, and pledged to publish more information on U.S. aid to Pakistan on the websites of the U.S. embassy in the country and the U.S. Agency for International Development once plans become more concrete.

“We share your concerns of the risks for future funding should are assistance be diverted from its intended purpose,” Holbrooke wrote in response to several accountability concerns identified by Kerry.

Holbrooke confirmed that approximately 50 percent of U.S. funds in fiscal 2010 will be channeled through Pakistani federal and provincial agencies. In response to Kerry’s concern that such allocation opens up the potential for U.S. funding misuse, Holbrooke explained that the Obama administration has chosen institutions with track records of working with international organizations such as ADB and those with “strong accounting safeguards.”

On U.S. priorities in Pakistan for fiscal 2010 and beyond, Holbrooke said these would include better alignment of U.S. assistance with Pakistan’s priorities and push for internal reforms to improve Pakistan’s water supply and sanitation.

The special representative said on Kerry’s concern over U.S. development presence in Pakistan: “We share your concern that we strike the right balance between high visibility and overall impact for the Pakistani people.”

He went to describe plans to use some of U.S. funds for energy to partner with donors and the Pakistani government. The goal, according to Holbrooke, is a “larger, more significant and coordinate contribution to energy generation and distribution.”

article source: devex network

I our opinion, the best way to create transparency would be to empower media to play the role of the watch-dog on the development issues, including transactions, implementations and results to the grass root level. This will not only ensure good governance, but also a sense of ownership amongst the governments and the people in both the countries. Making the US and Pakistani citizens' truly know that the money is coming "From the American People" into the households of the People of Pakistan, helping them in education attainment, health and survival, economic opportunities and growth, democracy and political empowerment. Bridging the gap for energy requirements, understanding of the issues concerning water resources and Pakistan’s contribution in the war on terror with the US and allied forces for a better, prosperous and a stronger Pakistan for tomorrow on a more competitive global footing.


This can be achieved by building capacity of the media to report more accurately and with in-depth knowledge of the issues concerning Pakistan as a nation and a country and how it has been able to absorb the foreign assistance.