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| India-Pakistan |
| World Bank gives 48-hour ultimatum to Pakistan |
| 2010-05-27 |
| [Dawn] Pakistan received a stern 48-hour deadline to take tough actions that include hiking of electricity tariffs by six per cent and implementation of the Value Added Tax (VAT) from July 1. On failure to do so, Pakistan will not receive $300 million under the poverty reduction support credit, the World Bank (WB) said. If Pakistan succeessfully implements the two conditions, the approval of $300 million will be made during the World Bank meeting which is to take place on June 29 in Washington. According to sources, authorities were alarmed and clueless about how to fulfill the conditions till May 27. Authorities in Islamabad are aware that even if the International Monetary Fund (IMF) allowed Pakistan not to impose VAT in its budget, World Bank would show stiff resistance in providing any aid, as VAT is its brainchild. The World Bank has been assistng Pakistan in preparations to introduce the VAT law to Pakistan during the past one year. However, there has been hue and cry from the business communities across Pakistan against the imposition of VAT. |
| Posted by:Fred |
| #4 I'm poor, how do you get in on this poverty AID that pakiland seems too get alot of? |
| Posted by: chris 2010-05-27 13:36 |
| #3 And yet another example of a overreaching bureaucracy imposing its will on a country against the will of the citizens. IMF is just another flavor of the UN and the EU. |
| Posted by: DarthVader 2010-05-27 11:40 |
| #2 The World Bank better invest that 300mil in security if they do cut-off aid. |
| Posted by: Charles 2010-05-27 03:53 |
| #1 ION PAKISTAN DAILY > US, INC. WORRIED OVER CLIMATE CHANGE [ CC + GW "Dubya" seen by Business as de facto "SOURCES OF/FOR DESTRUCTION" [Capital, Asset, Revenue-Loss, etc BIZZ RESOURCES]. SCHEMAS IN WORKS FOR CORPORATION-LED SUBSTANTIAL INCREASES IN BIZZ-SPECIFIC SPENDING AGZ CLIMATE CHANGE. |
| Posted by: JosephMendiola 2010-05-27 01:38 |