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Fourth Rupee Devaluation In One Year Shows Economic Risk Before July 25 Polls

The devaluation shows signs of vulnerability in Pakistan’s $300 billion economy; widening trade deficit, alarmingly low foreign exchange reserves, hike in oil prices, could further aggravate country’s macroeconomic fundamentals JUN 12, 2018 — Rupee slumped 3.8 percent against the dollar on Monday before slightly recovering in what appeared to be the fourth currency devaluation in one year by the central bank amid fears of a balance of payments crisis and speculations remittances from overseas Pakistanis may not meet the target. The State Bank of Pakistan said in a press release,Read More


Huge Cost Overruns On Mega Projects, As Though Being Built On Cost Plus

All Project Cost Overruns Discussed Below Are Public Entities: While Islamabad Airport and Neelum-Jhelum Projects Are Federal, Nandipur is Punjab Govt After 18th Amendment Was Passed in April 2010. (PKonweb Note) DR. FARRUKH SALEEM: Nandipur Power Project: In 2008, the Pakistan Electric Power Company (PEPCO) signed a Rs23 billion contract with Dong Fang Electric Corporation of China (EPC Contractor) to build the 525MW power project. Lo and behold, our government has already spent Rs84 billion on the project. In 2014, representatives of the National Transmission and Dispatch Company (NTDC) revealedRead More