logo
Irregularities surface in key water project

Irregularities surface in key water project

Express Tribune27-03-2025
The Punjab chief minister's inspection team has identified irregularities in the Asian Development Bank-funded Rawalpindi Water Supply Dream Project One, particularly in Lots 2 and 3, which have a contract value of Rs20.40 billion.
In response, Punjab Chief Minister Maryam Nawaz has instructed officials to complete documentation and refer the matter to the project's steering committee for a decision within three weeks.
Additionally, the chief minister has directed that all foreign-funded projects undergo a review every three months.
The chief secretary has been tasked with identifying responsible officers and taking necessary action against them.
According to sources, the Chahan Dam Water Supply Project's Lot 2 and Lot 3, worth Rs20.40 billion, was initially awarded to the Turkish company Five H Insaat in a joint venture with the Pakistani firm Qasim & Co.
However, contrary to the successful bidding process, the contract was exclusively awarded to the Turkish firm, prompting Qasim & Co to challenge the decision in court.
Upon bringing the matter to the notice of Chief Minister Maryam Nawaz, she deemed the decision to be lacking transparency and ordered a fact-finding investigation by the chief minister's inspection team within seven days.
The team, led by Chairman Salman Ejaz and members Ahsan Waheed and Ghulam Abbas Warraich, conducted an inquiry and confirmed irregularities in the contract award process.
The findings revealed that due process was not followed, as the project's steering committee failed to conduct quarterly reviews, which is a requirement for foreign-funded initiatives.
Now, the Planning & Development Wing Punjab will assess the matter under the steering committee's leadership and decide within three weeks whether to uphold or cancel the contract.
If the awarded contract is revoked, a new bidding process will be initiated.
It is noteworthy that Lot 1 of Dream Project One—worth Rs. 6.36 billion—was awarded to China Construction Third Engineering in partnership with a Pakistani firm, aiming to supply 12 million gallons per day from Chahan Dam. Meanwhile, Lot 4, valued at Rs. 7.19 billion, was awarded to a joint venture of MS Miracon KBDL and Five H Insaat, focusing on upgrading filtration plants, pumping stations, and old water supply lines from Rawal and Khanpur Dams to ensure 24/7 water supply to the Khayaban-e-Sir Syed area.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Iqbal urges joint push for $100b exports
Iqbal urges joint push for $100b exports

Express Tribune

time2 hours ago

  • Express Tribune

Iqbal urges joint push for $100b exports

Federal Minister for Planning, Development and Special Initiatives, Prof Ahsan Iqbal, on Saturday, called upon the government and private sector to work shoulder to shoulder in achieving an ambitious target of $100 billion in exports under what he termed an "export emergency." Speaking at a ceremony titled Marka-e-Haq and 78 years of Independence Day celebrations – Uraan Pakistan – at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Iqbal said Pakistan's economic stability hinged upon export-led growth, tax reforms, and foreign direct investment. He stressed that the business community was the main driver of the economy, and the private sector would play a decisive role in steering the country out of past cycles of instability. The minister said eight sectors had been identified as central to Pakistan's export expansion plan, including hospitality, IT, mining, manpower, blue economy, and creative industries. He urged FPCCI to immediately constitute eight joint working groups with the government to prepare actionable strategies in each sector. "Pakistan has faced severe economic crises in the past two years, but today international institutions are recognising our macroeconomic turnaround," Iqbal said. "We have to ensure that this turnaround becomes sustainable by focusing on exports and productivity." Iqbal likened the current phase to Pakistan's "fourth flight," referring to earlier failed attempts at sustained economic take-off. "The success of this Uraan depends on learning from the past three crashes. If we repeat old mistakes, we will fail again. But if we innovate, reform, and stand united, this time Pakistan will truly fly," he remarked. He stressed that Karachi remained the heart of Pakistan's economy, with FPCCI representing industries and businesses that fuel national growth. He further noted that the tax-to-GDP ratio remained among the lowest in the world, underscoring the urgent need to broaden the tax base. State Minister for Religious Affairs and Interfaith Harmony, Kheal Das Kohistani, also addressed the gathering. He praised the business community for its resilience, saying its role was crucial in strengthening Pakistan's economy. FPCCI President Atif Ikram Shaikh assured full support to the government's export-led strategy. He said global institutions' positive reports had boosted confidence in Pakistan's economy and that the private sector would serve as the government's partner in achieving the $100 billion target. "Through research-based policy inputs, FPCCI will continue providing feedback to the government to align strategies with ground realities," Shaikh noted. He added that new opportunities under Public-Private Partnership (PPP) mode would help accelerate growth. Senior Vice President FPCCI Saqib Fayaz and industrialist Bashir Jan Mohammed also underscored the need for closer cooperation between policymakers and businesses to sustain momentum. SM Tanveer, Patron-in-Chief of the United Business Group (UBG), said Pakistan's $40 billion trade deficit could only be addressed through aggressive export promotion. "The solution is export, export, and only export," he declared. Tanveer highlighted FPCCI's role in pushing down electricity tariffs from Rs48 per unit to Rs31 per unit, though he added the struggle was ongoing to bring rates further down to 9 cents (Rs26 per unit). Lowering interest rates from the current 11% to 6-7%, he said, would save the government Rs3,500 billion annually in debt servicing. He urged the government to focus on "district economy," giving local leadership authority over regional economic planning. "Every district in Pakistan can export its own product and earn foreign exchange. Decentralisation will strengthen the economy," he argued. Separately, FPCCI also hosted the Pakistan–Ethiopia Business Council meeting. Ethiopian Ambassador to Pakistan, Jemal Beker Abdula, noted that Ethiopia's economy was growing at 8.2% annually, presenting opportunities for Pakistani exporters. The FPCCI president reaffirmed that under the government's "Look Africa" initiative, Pakistan would increase exports to African markets. "Pakistan and Ethiopia hold immense untapped trade potential, and FPCCI will act as the government's arm in realising it," he said. Chairman of the Pakistan–Ethiopia Business Council, Ibrahim Khalid Tawab, added that African markets, particularly Ethiopia, were highly attractive for Pakistani exports.

PSX scales new peak despite profit-taking
PSX scales new peak despite profit-taking

Express Tribune

time2 hours ago

  • Express Tribune

PSX scales new peak despite profit-taking

Foreign funds would divert their liquidity into buying Pakistan's stocks. This would merely increases prices of shares and be profitable for those who already hold stocks. PHOTO: FILE The Pakistan Stock Exchange (PSX) extended its bullish run in the shortened four-day trading week, with the benchmark KSE-100 index hitting an all-time high of 147,005 points before closing at 146,492, up 1,109 points, or 0.8% week-on-week (WoW). The rally was fueled by robust corporate earnings, Moody's upgrade of Pakistan's sovereign rating to Caa1 and optimism about the declining circular debt in the power sector, though profit-taking capped gains by the week's end. On a day-on-day basis, bulls marched towards 150k on Monday with full excitement as the KSE-100 index breached 146k and ended the day at 146,930, up 1,547 points, in anticipation of a Pakistan-US trade deal. The bourse had a consolidation day on Tuesday where the KSE-100 floated in both directions and ultimately ended at 147,005 (+76 points) by keeping intact the 147k level as investors did some switching-cum-profit-taking. On Wednesday, profit-booking around 148k pushed the index to close negative at 146,529, down 476 points. After the break of the Independence Day, the PSX ended the last session of the week on a flat note, settling at 146,492, down 38 points. During the day, investors largely squared off weekly positions, which kept sentiment mixed and prevented the index from holding above the 147,000 mark. Arif Habib Limited (AHL), in its weekly review, noted that during the four-day trading week, shortened due to the Independence Day holiday, the KSE-100 index maintained its upward trajectory, reaching an all-time high of 147,005 points on Tuesday. The rally was fueled by healthy corporate earnings during the ongoing results season. Furthermore, Moody's upgraded Pakistan's sovereign rating to Caa1 from Caa2, citing improving external buffers, fiscal consolidation and reform progress under the IMF programme. In addition to this, the circular debt in the power sector declined to Rs1,614 billion as of June 2025, AHL said. In July, the auto industry recorded sales of 11,034 units, down 49% month-on-month (MoM) but up 28% year-on-year (YoY). Furthermore, oil production registered an uptick of 0.8% WoW, arriving at 59,604 barrels per day. Production at the Makori East and Nashpa increased during the week. Also, the Pakistani rupee appreciated marginally by 0.14% WoW, closing at 282.06 against the US dollar, it said. The sectors that contributed positively were banks (1,062 points), cement (531 points), auto parts (104 points), auto assemblers (67 points) and investment banks (62 points). Meanwhile, sector-wise negative contribution came from fertiliser (318 points), E&P (214 points), oil marketing companies (159 points), power (102 points) and refinery (43 points). Scrip-wise positive contribution came from Meezan Bank (354 points), Lucky Cement (289 points), HBL (253 points), Bank Alfalah (158 points) and Mari Petroleum (136 points). On the other hand, negative contributors were Fauji Fertiliser Company (313 points), Pakistan Petroleum (198 points), UBL (195 points), OGDC (171 points) and Hub Power (125 points). Average daily volumes arrived at 606 million shares, down 7.2% WoW, while the average traded value settled at $143.8 million, down 13.1%, AHL added. Wadee Zaman of JS Global mentioned that the KSE-100 extended its bullish streak during the outgoing week, touching the high of 147,534 points before slipping into the red on Friday. The index closed at 146,492 points, up 0.8% WoW. Investor sentiment was driven by Moody's upgrade of Pakistan's rating to Caa1 with the outlook changed to stable, reflecting the country's improving external position. On the economic front, he said, the power-sector circular debt dropped to Rs1.6 trillion by the end of June 2025, showing a notable reduction of 33% from last year's level of Rs2.4 trillion. It was largely attributed to the disbursement of Rs801 billion to power producers under the government's stock clearance drive. The Power Division is also expected to present its final proposal for the complete implementation of debt re-profiling with the Chinese independent power producers (IPPs), whose dues currently stand at Rs475 billion. Meanwhile, as per trade data, services' exports rose 9.2% YoY to $8.4 billion in FY25, Zaman said.

Locals in Balochistan helping identify terrorists: DG ISPR
Locals in Balochistan helping identify terrorists: DG ISPR

Express Tribune

time3 hours ago

  • Express Tribune

Locals in Balochistan helping identify terrorists: DG ISPR

The chief military spokesperson said on Saturday that residents in Balochistan are increasingly providing information on terrorists and their facilitators, a move he called critical to the success of counterterrorism operations in the restive province. Lt Gen Ahmed Sharif, Director General of the Inter-Services Public Relations (ISPR), told students in a special session of the army's internship programme that intelligence-based operations (IBOs) rely heavily on local cooperation. "We don't conduct sweeping operations unless locals support us by identifying threats. Military presence alone doesn't secure an area – local ownership is the key," he said in a candid discussion with the students, where he addressed questions surrounding military operations, regional concerns, and national unity. "If a citizen provides shelter to terrorists or keeps explosives in his house, he will have to face the consequences," Lt Gen Sharif said while dispelling the impression that military operations target communities. "The entire region or village cannot be punished for the terrorism of one person," he added. "Our operations are not about displacing communities or punishing entire regions. We only move against confirmed terrorists based on solid intelligence." He said security forces were working to expose not only terrorists but also their facilitators and supporters. "The people of Balochistan are standing up against terrorism and pointing out those who harbour or facilitate terrorists," Lt Gen Sharif added. Balochistan, which borders Iran and Afghanistan, has been plagued by a decades-long Baloch separatist insurgency as well as attacks by religious extremists. The province has seen frequent assaults on security forces, government installations, and Chinese-backed projects. The military spokesperson praised the people of Balochistan for what he described as growing resistance to terrorist groups, saying many were "helpless and fed up with the terrorists." He cited the examples of young Baloch professionals, including female deputy commissioners, as signs of progress. He specially mentioned Dr Samad Yar Jang, a Cambridge-trained scientist, and Shahzaib Rind, Pakistani Wushu and Kickboxing champion, known for his success in Karate Combat. He added that Baloch women now serve in senior administrative positions, such as deputy commissioners, which he said symbolise progress and empowerment. The talented and educated Baloch youth has become the masters of its destiny, he added. "There's a common misconception that Baloch youth are disconnected from Pakistan. In reality, they understand the bond between their province and the nation very well," the military spokesperson said. Lt Gen Sharif also paid tribute to Major Muhammad Anwar Kakar, an officer martyred in a bomb attack in Balochistan. Major Kakar Shaheed, a brave son of the soil, had previously played a key role in repelling an attack on the PC Hotel in Gwadar in 2019, he added. "From officers to civilians, sacrifices are being made every day to keep Pakistan secure." Referring to the ideological roots of Pakistan, Lt Gen Sharif said that Pakistan was created on the basis of "Kalima" not on ethnic or linguistic lines. "The Prophet Muhammad (PBUH) has taught us that no race or ethnicity is superior to another. That's the foundation of our country," he added. He also pointed out the diverse ethnic makeup of Balochistan, saying that more than 30% of its population comprises Pashtuns, and many Baloch tribes live outside the province in Sindh and South Punjab. "Pakistan is not just a country; it's an idea rooted in unity, faith, and purpose," he added.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store