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WEEKLY
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| WB advises Balochistan on resolving economic crisis |
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Sunday, November 08, 2009
By our correspondent
ISLAMABAD: By pointing out financial difficulties being faced by Balochistan, the World Bank (WB) has recommended to the province to replace expensive cash development loan with ‘relatively inexpensive foreign loans’ in order to come out of the economic morass.
The WB’s report titled ‘Balochistan’s Economic Report’ also pointed out that the federal transfer to the province declined substantially due to lower share in gas development surcharge in recent years, aggravating the financial difficulties by paving the way for increased debt servicing cost.
The WB also recommended to Balochistan to review the size and composition of provincial Public Sector Development Programme (PSDP), limit the number of new schemes, rationalize the tubewells and wheat subsidy, and continue to replace expansive cash development loan with relatively inexpensive foreign loan.
The WB recommended to the government to make substantial investment for infrastructure of Gawadar port in the range of $1.2 billion for building the required infrastructure to run this port effectively.
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ISSN 1563-9479 
