KARACHI:
Commenting in Geo programme ‘Aaj Kamran Khan Kay Sath,’ on Thursday the
host, Kamran Khan, said that the rupee had scored a 10 percent
appreciation in its value against dollar and now it was logical to
expect easing in the skyrocketing prices of goods.
The
government wanted to give Rs25 billion Neelum-Jhelum transmission line
project to a Chinese company. The Wapda member of finance pointed out
some serious irregularities in the whole affair, he said.
The
government was trying to achieve a political consensus on the talks
with Taliban and a breakthrough was achieved when Prime Minister Nawaz
Sharif and Interior Minister Chaudhry Nisar went to the house of
Tehreek-e-Insaf (PTI) Chief Imran Khan and took him into confidence over
the government’s efforts for restoring peace in the country and getting
rid of the scourge of terrorism and finding a talks-based solution to
the problem.
Kamran Khan said that Prime Minister Nawaz
Sharif was determined to ensure that his government remained clean and
did not get involved in any sort of a corruption scandal. The prime
minister wanted to ensure that all the projects, whether they pertained
to purchases or selling or contracts, remained transparent. The
government had so far not been associated with any financial scandal,
but there were certain reports causing some anxiety. These reports were
about a project linked to the Neelum-Jhelum power project worth $3
billion and it pertaining to the transmission of power to the national
grid for which lines were to be laid.
Kamran Khan said
that there were reservations expressed by PPRA, which bound the
government to comply with the laws pertaining to procurements and
disposal while entering into such agreements. Some important officials
at the National Transmission and Dispatch Company and Wapda had also
expressed their serious reservations, but it had been alleged that the
government was insisting that all these reservations were put aside and a
particular Chinese company was granted Rs25 billion contract.
The
Wapda member of finance while alleging serious irregularities in the
whole affair, rejected the plan. Before that the National Transmission
Company’s MD, while flouting PPRA laws, had granted the Chinese company a
conditional approval, but the board of directors of the National
Transmission Company, while expressing its reservations, had rejected
the application for a relaxation in PPRA rules. After the refusal, the
conditional approval was cancelled, and the National Transmission
Company had ordered issuance of the tender again. The National
Transmission Company, according to the rules and regulations, could not
select a particular company, and so the Ministry of Water and Power
ordered Wapda to complete the project, and it appeared that the Ministry
of Water and Power wanted Wapda to renew the cancelled project. The
lowest bid for the project was Rs13 billion, but the Rs25 billion bid
was approved. This is a very serious allegation. Kamran Khan said that
the matter had now become a bit murky, and since it was a huge financial
project, the act of overlooking transparency and rejecting reservations
was not good news.
Kamran Khan said that the rupee had
scored a 10 percent increase in its value against dollar, but the people
would only be able to enjoy the effects of this development when it
filtered down to the people in the form of reduction in prices of the
goods that were imported into the country.
Kamran Khan
said that the usual practice had been that whenever the rupee lost its
value against the dollar, it triggered skyrocketing price rise. “Now we
have a rupee that has increased its value against dollar, but it is yet
to be seen if its effects filter down to the common man in the form of
reduced prices of goods and commodities.
There are
several opinions on whether this happens or not. Some experts opine that
the people engaged in trade and commerce would like to see that only a
minimum of advantage filters down to the common man. For example, it has
been stated on behalf of the plants which assemble cars that they do
not think that the prices of cars will fall in the foreseeable future.
Commenting
on the tragedy in Thar, Kamran Khan said that the Sindh government had
once again faltered. He said that it was time for the PPP leaders to ask
themselves what their government had, which had been in power in Sindh
for the last six years, done or had it come up to the expectations of
the people.
On the situation in Lyari, Kamran Khan said
that the people in different localities of the area spent a good part of
their day on Thursday in burying the innocent people who had died in
the disturbances in the area on Wednesday. Lyari is the centre of gang
warfare. In spite of the Karachi operation, the situation in Lyari has
deteriorated.
WASHINGTON:
US stocks opened modestly higher on Thursday as investors weighed
improved unemployment claims data ahead of Friday's key monthly jobs
report.