Yet another loan

Seher Rao

In a meeting of the Economic coordination Committee (ECC) held under the chairmanship of our Finance Minister Ishaq Dar, yet another loan of Rs.30.6 bn was approved for already controversial Nandipur Power Project. Nandipur project was thought to be a shining light to overcome Pakistan’s power woes, but it has turned as a nightmare during last few years due to massive corruption. It has failed to fulfill all claims made by Government about the project. This project has been built on paper during the past 7 or 8 years, by the Punjab government; each time with more expenditure. But it is quite evident that it’s useless to invest in this project because it is not prospering due to corruption and incompetency. Last year as well ECC approved similar loan of 37 bn and now another loan of 30.6 bn for the same project. Which according to me is useless because again there will be no progress. The question is where does all the money of these loans go? The corrupt authorities take these loans in name of country’s benefit but spend them elsewhere. The result is hike in taxes which we people have to pay. People should raise their voice against these loans and Government should stop taking loans after loans.
— Karachi

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