Friday , 22 September 2017

Tag Archives: Corruption

Time to accept your mistakes and make amends

Eid Mubarak to you and your family. Eid Ul Azha is about remembering the sacrifice of Prophet Ibrahim (AS) and its message for the people. Yesterday sacrifice of Benazir Bhutto came to the limelight after the verdict of an anti terrorist court. Benazir despite being aware of the risks to her life did not hesitate to reach out to the …

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The Grand Bargain

These days it is hard to believe anything because of too much rumor mongering on social media. So I developed certain benchmarks which if met would mean that the grand bargain is progressing. One such benchmark was met yesterday when Asif Ali Zardari got a clean chit from NAB in his last corruption case. Legally and officially he is now …

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Pakistan Can No Longer Ignore Its Weakened Economy

The government prefers to see a conspiracy when all evidence points to a looming economic crisis. On July 5, 2017, the Pakistani currency fell by over 3 percent in what was the currency’s largest decline in nine years. This was like the distant thunder that warns of a looming storm, but its importance was missed as all eyes were drawn …

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Is Pakistan’s Democracy Back to Square One?

The process of democratic restoration in Pakistan will continue to face roadblocks unless civilian forces join hands. Pakistani Prime Minister Nawaz Sharif is in a serious situation after the Joint Investigation Team (JIT) found that the ruling family has been living beyond its means and has failed to provide a legitimate trail of its investments abroad. The JIT is investigating corruption allegations …

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Currency devaluation is giving investors reason to stay away from Pakistani market

Signs that Pakistan, home to one of the world’s top five stock markets last year, is headed for a currency devaluation is giving investors another reason to stay away from the world’s newest emerging market. Foreign reserves are falling, the current-account deficit has more than doubled in less than a year and the benchmark KSE100 Index has lost its mojo. …

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Tax free renewable energy fails to lower the tariffs

Solar PV auction prices in India have reached a new low of INR2.42 (3.7 US cents) per kilowatt-hour (kWh). In the last auction, winning bidders for two tenders in Bhadla include ACME (INR2.44/kWh, 200MW), Softbank (INR2.45/kWh, 300MW), Phelan (INR2.62/kWh, 50MW), Avaada (INR2.62/kWh, 100MW) and Softbank (INR2.63/kWh, 100MW). This is a 50% decrease in the last one year. Only several months …

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Fleecing the Buyers: On-money

Anyone buying a new car in Pakistan is faced with the specter of ‘On Money’. This is the ‘premium’ you have to pay to get immediate delivery of a new vehicle. I do not know where the term originated, but my guess is that it refers to money ON top of the price that you have to pay – hence …

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Ishaq Dar’s confessions and denials

Oh, that moment of weakness if only it could be forgotten when Isaac called for pen and paper and in his own hand and at considerable length penned down the saga of money-laundering allegedly associated with the house whose top accountant he had been for so many years. The tell-all tale was spread over 43 pages, no detail spared, everything …

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Politicians against politicians

Politicians against politicians

An interesting situation has developed in Pakistan, politicians of all stripes have filed disqualification references and petitions against each other alleging corruption through abuse of political power. As a citizen I believe all these respectable elected politicians must be telling the truth based on evidence. So I have no other option but to accept that they are corrupt. It will …

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Running out of fuel

corruption

Transparency International’s 2009 report shows Pakistan moving from the 47th to become the 42nd most corrupt country in the world. With Rs.300 billion worth corruption cases identified by the TIP alone in various federal government departments in one year, chances of the country ever ridding itself of corruption seem bleak. Pakistan’s largest exploration and production sector is no exception to …

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