Re: Moody’s investors Upgrades Pakistan Bond Ratings
so it seems more like an industry issue than a govt issue.
happens in every country, look at big 3 in detroit and how they have fared.
Re: Moody’s investors Upgrades Pakistan Bond Ratings
Abdali could you pls post the link for your post # 4. Thanks.
Re: Moody’s investors Upgrades Pakistan Bond Ratings
http://216.122.144.99/default.asp?page=2006\10\24\story_24-10-2006_pg7_22
Re: Moody’s investors Upgrades Pakistan Bond Ratings
Since 1999 the amount of taxes the govt collects has more than doubled, which is a significant achievment in it’s own right. The Pakistani people are not only richer than ever before, but are also paying their taxes. :k:
http://www.dailytimes.com.pk/default.asp?page=2006\12\01\story_1-12-2006_pg5_1
Revenue collection: CBR collects Rs 292.41b in July-November
The Central Board of Revenue (CBR) has surpassed the five-month’s tax collection target of Rs 292 billion by collecting Rs 292.418 billion during the July-November period of the current fiscal year 2006-07. The tax collection has witnessed an increase of 17.5 percent during July-November period due to the collection of Rs 292.418 billion in this fiscal year 2006-07 as against the collection of Rs 218.784 billion in the same period of last fiscal year 2005-06. The authorities expect that the revenue collection would further improve, as the final collection figures for the month of November would be available in next two weeks. To meet the annual tax collection target of Rs 853, the CBR will have to collect Rs 542.582 billion in the remaining seven months December-June period of the current fiscal year.
According to the provisional tax collection figures for July-November period finalised on Thursday, the income tax collection was Rs 96.542 billion against the collection of Rs 69.454 in the same period of last fiscal year projecting an increase of 39 percent. The indirect taxes collection amounted to Rs 195.876 billion in July-November period of this fiscal year 2006-07 against Rs 179.330 billion collected in the corresponding period last fiscal with an increase of 9.2 percent. The sales tax collection stood at Rs 123.727 billion during the first five months of current fiscal against Rs 110.108 billion collected in the same period last year showing an increase of 12.4 percent. The GST collection at the import stage was Rs 70.485 billion in July-November period against Rs 66.405 billion in the same period of last fiscal year, reflecting an increase of 6.1 percent. The sales tax collection on domestic consumption was Rs 53.242 billion during this July-November period against the collection of Rs 43.706 billion in the same period of last fiscal year, showing a growth of 21.8 percent. The collection of customs duty stood at was Rs 48.492 billion July-November period of this fiscal year against the collection of Rs 48.226 billion in the same period of last fiscal year, projecting a growth of 0.6 percent. The collection of Federal Excise Duty (FED) was Rs 23.657 billion in July-November period of current fiscal against Rs 20.996 billion in the same period of last fiscal year, showing an improvement of 12.7 percent. The data further shows that the CBR paid Rs 37.606 billion as refund/rebate to the exporters during the period under review, which includes Rs 18.525 billion as GST refund. The payment of sales tax refund at the import stage was Rs 29 million while domestic refund stood at Rs 18.496 billion. The customs department paid Rs 6.560 billion as rebate/duty drawback, a total of Rs 12.464 billion as income tax refund and the central excise rebate of Rs 57 million during the July-November period of this fiscal year. The provisional tax collection for the month of November amounted to Rs 55.2 billion against the collection of Rs 43.634 billion in November 2005. The collection of Income Tax stood at 14 billion in November, Rs 26.169 billion as sales tax; Rs 10.800 billion as customs; Rs 4.2 billion as federal excise duty. During the month of November 2006 the CBR has paid refund/rebates to the tune of Rs 4.426 billion which include Rs 479 million as income tax refund, Rs 3.208 billion as sales tax refund and Rs 739 million as customs duty rebate.
Re: Moody’s investors Upgrades Pakistan Bond Ratings
Pakistan’s exports have also doubled since 1999, and keep on growing. :k:
http://www.pakistantimes.net/2006/12/15/business1.htm
Pakistan Exports in July-November 2006 register 5.1% growth
The country’s exports in first five months of current fiscal (July-November) were recorded at around $ 6.928 billion, showing an increase of 5.1 percent over the exports worth $ 6.592 billion realized in the like period of previous fiscal. According to provisional trade figures, the exports during the month of November, 2006 totalled at around $ 1.380 billion as against $ 1.113 billion realized in the corresponding period of the last fiscal, showing an increase of 23.9 percent in the like period of the last year. The exports achieved 37.2 percent of the set target of $18.8 billion for the current fiscal while the import achieved 44.0 percent of the set target of the current fiscal. During the first five months of the current fiscal, the imports also witnessed 10.4 percent growth to $ 12.333 from $ 11.176 billion in the same period of the last financial year. The country’s imports in November 2006 were recorded at $ 2.774 billion, witnessing a decrease of 20.6 percent over imports worth $ 2.299 billion realized in the corresponding month of last fiscal
Re: Moody’s investors Upgrades Pakistan Bond Ratings
Last year the growth was 6.6% ostensibly because of Pakistan Earthquake, but now GDP growth is climbing again. :k:
Pakistan GDP to pick up to 7% in the Year: World Bank
South Asia has witnessed a strong economic growth and Pakistan’s GDP is expected to pick up to a robust 7 per cent in the year, according to a new World Bank report. The report “Global Economic Prospects - Managing the Next Wave of Globalization” was released Thursday. Expansion in agricultural production and increased capacity following government infrastructure investments and private sector investments in the textile sector are some of the factors bolstering the economic growth in Pakistan in the current year.
Re: Moody’s investors Upgrades Pakistan Bond Ratings
You have to realize all this "econmic success" is merely only benefiting the upper and middle classes. The lower class is still as poor as it ever was. Pakistan needs to implement polcies to close this econmic gap.
Re: Moody’s investors Upgrades Pakistan Bond Ratings
Fraudz:
[quote]
sa1eem - thank you, saved me from pulling all that info. thank u for sharing with us.
'parrots have flown from people's hands' and now they are just 'peeking into their armpits'
[/quote]
Brother, you are welcome and thanks :). Well bhai, problem is that whatever facts anyone brings on surface and counter false propaganda with truth, things would never change. Thus, you will see same thing and same argument keep on cropping again and again, even if you would answer that. The idea is that to keep repeating and repeating so that people become brainwashed and start accepting that as truth, if not all than at least few. As that is the strength of corrupts, that to spread misconception as much as possible, by repeating something, even if it is false.
Those safeguarding their corruption money and wants those old golden corrupt days again, would keep doing propaganda whatever the truth. For that, they buy journalists from all nationalities in the world (especially most Pakistani journalists).
In inner circle, even these corrupts admit that lot of good work is happening in Pakistan, and appreciate that, but that good work is happening at the cost to them and no one wants that. Its also not about few billion rupees, it is about at least 400 to 500 billion rupees corruption a year, where some in their good times use to individually make billions of rupees a year. Many children of corrupts are now having posh lives, driving posh sports car and living in posh expensive houses in UK, Dubai, Europe and USA.
I have personally heard from someone close to BB that when Swiss account was frozen, she went quite and was in subtle shock. What I heard, there could be between 400 to 600 million dollars (or more) in different Swiss accounts belonging to her and her spouse (Wallah Alaam), though most accounts are not frozen, it is difficult to move money out, as movement of big money leave traces, that can be followed. [Since whole story is ‘heard thing’ I wont like to comment much on that anyhow and would just say that as far as reality is concerned, only Allah knows best].
Now with this sort of corruption money involved, you can imagine that how hard the propaganda would be and who sold their soul amongst TV presenters, reputable newspaper article writing journalists (especially Urdu newspaper) or known economist journalist, is anyone’s guess. Even people in government party are fed up with ministries having little corruption income and free press (that could bring any corrupt act they do, on surface).
Most bureaucrats are fed up too as their income is most effected plus fear of getting caught by NAB on past corruption charges (bureaucrats corruption income was huge and regular, in contrast to politicians whose corruption income was seasonal, that is linked to power or courtesy of people in power).
Now, it is people like us that have no personal interest try to counter things as much as we can, but that is based on love for the country only.
Actually, fact is that, it is more beneficial for people who live abroad and occasionally visit Pakistan, or those who have some connections and little money in Pakistan, to have corruption, nepotism and BB-Nawaz type democracy in Pakistan, because if one knows how to play the cards right, things becomes really easy. In such environment, it is easier to earn (or make) money in Pakistan at the expense of Pakistan and poor of Pakistan. To feel like King and exploit others (mainly poor and people with little connection) in all ways (physically, emotionally, or monetarily) and can even get away with murder.
But then, there is reward for us in good and prosperous Pakistan too, as honest opportunities increases. For instance, honest business prospect in many areas, good well paid jobs on merit, better infrastructure, less sore sights of poor suffering, good feeling to have link with prosperous and strong Pakistan, etc is our reward. (Plus, we should love the country we were born and should like to see it strong and prosperous).
Seems, Musharraf government is trying their best to get that prosperity and development achieved and we can only hope and pray that this lasts for foreseeable future.
Well, it does not mean that poverty and corruption in Pakistan during Musharraf government has completely disappeared or that all problems are sorted out. It only means that poverty and corruption during Musharraf government has gone down substantially and is going down with time. Many problems are there but things are getting better. There is fear amongst big corrupts of getting caught, and country is rapidly prospering that would prosper more rapidly as good governess, honesty and hard work would increase and corruption, nepotism would decrease further (hopefully, InshaAllah)].
Re: Moody’s investors Upgrades Pakistan Bond Ratings
Yet another report on the huge corruption in Pakistan. Doubtlessly this will be spinned by those living abroad who support Mush for their personal reasons.
A report by the highly regarded Irfan Hussain of Dawn.
** Corruption on the rise**
THE Musharraf government’s proudest boast is that it has greatly reduced corruption in Pakistan. But this claim has been rudely shattered by the latest Transparency International (TI) report that shows that Pakistan, far from being cleaner today, is more corrupt than it was when the army took over in 1999.
According to a report published a week ago, we are now 142nd out of 163 countries ranked by the international watchdog body. Seven years ago, when Musharraf seized power, Pakistan was ranked 87th. So, after years of being lectured by government spokesmen about how the army was cleansing the country, and hundreds of millions being spent on the National Accountability Bureau (NAB), we find that crooks are flourishing more than ever before.
One of the principal charges against Nawaz Sharif and Benazir Bhutto was that of corruption each time they were removed through army-backed coups. This happened with such monotonous regularity in the ‘90s that as soon as a party was elected, people asking when — and not if — the government would be sacked. And of course, there was much substance to the allegations of sleaze. But surely, if they could be removed for corruption, should we not be asking why the present lot should not be made equally accountable?
When elected politicians were in office between 1989 and 1999, you could not pick up a newspaper without allegations of some scam or another. Now, such stories are few and far between despite Pakistan having made a spectacular rise up the TI annual corruption barometer. As a result, columnists, leader writers and the chattering classes generally are not constantly writing and talking about corruption. So despite the evidence, the perception — assiduously cultivated by NAB and the information ministry — is that the system is somehow more transparent and less corrupt. But this gloss does not fool anybody who has to deal with ministers and civil servants. Businessmen say they are now encountering higher demands for bribes than ever before. People with the simplest requests who visit government offices are expected to pay substantial sums as a routine cost.
So why is the media not investigating these allegations with the same zeal it displayed in the ‘90s? And this is despite the fact that there are many more private TV and radio channels today than there were seven years ago. In the pre-Musharraf days, the press was in a constant feeding frenzy, and its investigative stories were often picked up by the foreign media, reinforcing the impression that our politicians were more corrupt than their counterparts in other parts of the world. Thus, the army coup of 1999 was generally welcomed. Even well-informed journalists climbed on the bandwagon.
It is a well-known fact that intelligence agencies keep a number of journalists on their payrolls, and feed them stories maligning politicians they consider opposing the GHQ’s line. A steady stream of such innuendos and allegations can damage any reputation. The other string in the establishment’s bow is the harassment independent journalists have been subjected to. Some have been picked up, thrashed and dumped far from home. And since our courts are so emasculated, they provide little protection to individuals, or any oversight to check the abuses committed by officials and agencies. However, the Supreme Court’s stand in pressurising the government into releasing a few of the “disappeared” from a list of hundreds must be acknowledged.
The fact is that Pakistan has no monopoly on corruption, although it has been institutionalised to a remarkable degree here. In many advanced democracies, politicians have been accused of venality of one kind or another. Governments have been shaken by scandals. Public figures have resigned, or have been tried and occasionally jailed. When they have tried to hang tough, many have been defeated in elections. Through the media, the judiciary and the electoral process, they have been held accountable. Generals have not used allegations of corruption to stage coups. Had this been a tradition, Italy would have been ruled today by the army, given the many charges ex-prime minister Silvio Berlusconi is facing. And US Vice-President Dick Cheney would be in hot water over his role in assigning billions of dollars worth of government contracts to Halliburton, his old company, without inviting competitive bids.
Clearly, corruption is a fact of life we have to put up with. As long as greed is part of the human condition, we cannot eliminate it entirely. The best we can hope for is a reduction in this disease. One problem we face in poor countries is that the demand for the most basic services far exceeds supply. So to obtain what should be his by right, a person has to pay a bribe to jump the long queue of other equally deserving applicants. And when an official is faced with such a situation, he will tend to take advantage of it. This, too, is human nature. The answer lies in removing bottlenecks and making the system transparent so civil servants are less able to misuse their discretionary powers.
But above all, economic development is the key to reducing corruption. The TI barometer shows that by and large, richer countries are less corrupt as a rule. As services become universally available, and unemployment falls, there are fewer incentives to offer bribes. And with education comes a strengthening of institutions that can act as a deterrent to corruption. Of course there are many exceptions: greed knows no bounds, and in the most advanced countries, examples of corporate venality abound. However, ordinary citizens can (and do) spend a lifetime without having to pay a bribe.
Equally clearly, politically motivated anti-corruption drives that target political opponents do more harm than good.** Despite its tall claims, NAB has not reduced corruption. Rather, it has slowed down decision-making in the bureaucracy, not that it was ever very swift. And by terrorising bureaucrats, it has pushed up the bribery rate. Above all, by removing the armed forces and the judiciary from its ambit, NAB has lost whatever credibility it might have had.**
What emerges from this discussion is that at the end of the day, there is no magic wand to remove corruption from society. And the army, given its own severe problems with corruption, is the last institution to set itself up as judge, jury and hangman.
Re: Moody’s investors Upgrades Pakistan Bond Ratings
^ I think you either did not read it, or did not understand it, but here it is again. seems like your hero Ifran hussein did not really understand or try to portray the situationin all honesty..
Re: Moody’s investors Upgrades Pakistan Bond Ratings
^^
TheRealDeal:
Did highly regarded Irfan Hussain of Dawn (whose article you posted) saw the report from TI that corrected the misconception of all other TI reports? Have you seen that report from Transparency International?
Note: this clarification press release from TI, that came out on Friday 22 Sept, 2006, was in response to propaganda by people quoting TI report 2006 with added lies, claiming that according to TI report 2006, corruption in Musharraf government is higher then government of NS and BB.
Nevertheless, don’t you think that when quoting TI report on corruption conception (that is not country specific but global), quoting 87th and now 142nd, it was duty of famous Irfan Hussain to give the total number of countries TI took when quoting 87th ranking for Pakistan (as it was I think something like 97 countries)?
To find the clarification by TI, posted below: Go to site:
Then, go to 6th box (National Corruption Perception survey 2006 and 2002) and then click on:
Press release Clarification of NCPS 2006 (22 September 2002)
**
Friday 22 September 2006** Pakistan National Corruption Perception Survey 2006.
Transparency International would like to clarify the results of its National Corruption Perception Survey-2006, released on 11th August 2006, in order to remove the confusion arising due to the misreporting in a section of the media.
National Corruption Perception Survey-2006 comprises of questions asked from 4000 respondents spread over the four provinces. Two separate questions were asked from the respondents on their opinion on the most corrupt governments.
The first question is related to the four different periods/governments from 1988 to 1999, comprising of Mr. Nawaz Sharif and Ms. Benazir. The question and results are tabulated below.
**Q. In Pakistan Which Govt. was/is most Corrupt? **
**Nawaz Sharif**
**96-99**
**34.00 %**
**Benazir**
**93-96**
**48.00 %**
**Nawaz Sharif**
**90-93**
**10.00 %**
**Benazir**
**88-90**
**8.00 %**
The above results shows that the first period of both Ms. Benazir and Mr. Nawaz Sharif was less corrupt than their second period. Out of 4000 respondents, 8% ranked Ms. Benazir first period as the most corrupt, and 48% respondents ranked Ms. Benazir second period as the most corrupt, i.e. corruption increased six times. 10% of the respondents ranked Mr. Nawaz Sharif first period as the most corrupt, and 34% respondents ranked Ms. Nawaz Sharif second period as the most corrupt period, i.e. corruption increased by 3-1/2 times.
The second question was from the same 4000 respondents required for comparison of the two terms of the present government of President Musharaf. The response is given below.
**Q. ****What about the present Govt. **
**President Musharaf**
**99-02**
**32.69 %**
**President Musharaf**
**02-06**
**67.31 %**
The above results also shows that the first period of President Musharaf caretaker government was less corrupt than his second period. Out of the 4000 respondents, 32.69% ranked his first period the was the more corrupt, and 67.31% ranked his second period as the most corrupt, i.e. the corruption in the second period doubled.
The above two results shows that corruption in the first period of all the three governments was less than their respective second period, and also that the increased in corruption in the second period was the least in the Second Period of President Musharaf.
Comparison of corruption of six different Governments was earlier provided in the National Corruption Perception Survey 2002, and the results are given below: -
**Q. In Pakistan Which Govt. was/is most Corrupt in your opinion?
**[Note: Compare the corruption during three governments, that is of Benazir, Nawaz Sharif and Musharraf. I am sure that you know that 48.7 percent and 43.03 percent, both is much more then 3.17 percent].
**Benazir**
**48.70 %**
Nawaz Sharif
43.03 %
Musharraf
3.17 %
**Ayub**
**2.17 %**
**Ziaul Haque**
**1.53 %**
**Bhutto**
**1.4 %**
Out of 3,000 respondents in 2002, the perception of corrupt governments of the three, Ms. Benazir, Mr. Nawaz Sharif and President Musharraf, 48.7 percent said the government of Benazir Bhutto was the most corrupt, 43.03% percent said government of Nawaz Sharif was the most corrupt and 3.17 percent said that the government of President Musharraf was the most corrupt. Respondents felt that Z.A. Bhutto’s government was least corrupt.
** Transparency International would like it to make it clear that Survey results are based on the perception of respondents. The rationale for carrying out such surveys all over the world is to create awareness and provide feedback to the authorities to improve their functioning. The Comparison of corruption between various countries will now be issued under the new Survey CPI 2006 with rankings by TI in November this year. **
[Note: When TI posted this clarification, they knew the global survey result too and when it is due to come]
Stories published in a section of the media that according to the TI Pakistan National Corruption Perception Survey 2006 released on 11 August 2006, President Musharraf’s government is more corrupt than the government of Prime Ministers Benazir Bhutto and Nawaz Sharif are absolutely incorrect based as they are on a totally erroneous reading of the Transparency International’s Survey.
[Note: The above statement of TI must be shocking to you.
Brother, you and many others that started quoting and misinterpreting TI report, and have done so much propaganda by quoting data adding it with lies that even Transparency International got embarrassed and thus had to come out to clarify their position pointing the lies used quoting their report and data, declaring it to be totally erroneous.
I am sure that since you believe differently, you would write to TI that their report calling your or other posts, where people have tried to show that Musharraf government is more corrupt then BB and NS (quoting TI report) is lies, is totally erroneous too. Is it not a bit embarrassing? What do you think?].
Re: Moody’s investors Upgrades Pakistan Bond Ratings
Overseas Pakistani’s have the same confidence in Pakistan’s as Moody’s does, if not more. It has taken a great deal of effort to reassure overseas Pakistani’s to invest their wealth in Pakistan, especially after Nawaz Sharif committed one of the biggest looting of money in history i.e. the Foreign Currency accounts.
$2.093b remittances received in July-Nov - up 24.28% from last year
The country received an amount of $2.093 billion as workers’ remittances during July-November 2006, up by 24.28 percent compared to the same period last year. The monthly average remittances for the period July-November, 2006 comes out to $418.56 million as compared to $336.79 million during the same period of the last fiscal year. The central bank statement said: “Pakistan received an amount of $2,092.81 million as workers’ remittances during the first five months (July–November, 2006) of the current fiscal year as against $1,683.96 million in the corresponding period of the last fiscal year registering an increase of $408.85 million or 24.28 percent. The amount of $2,092.81 million includes $1.17 million received through encashment and profit earned on Foreign Exchange Bearer Certificates (FEBCs) and Foreign Currency Bearer Certificates (FCBCs).” The data said during November 2006, Pakistani workers remitted $448.61 million as against $308.81 million in November 2005 depicting an increase of $139.80 million or 45.27 percent.
The inflow of remittances during the first five months (July-November 2006) from USA, Saudi Arabia, UAE, GCC countries (including Bahrain, Kuwait, Qatar and Oman), UK and EU countries amounted to $533.46 million, $398.99 million, $318.12 million, $291.47 million, $180.10 million and $62.57 million respectively as compared to $481.54 million, $280.89 million, $243.26 million, $228.25 million, $172.78 million and $47.76 million. Remittances received from Canada, Australia, Norway, Switzerland, Japan and other countries during the first four months amounted to $306.93 million as compared to $221.63 million in the corresponding period of the last fiscal year. The inflow of remittances into Pakistan from all countries of the world increased last month as compared to November 2005.
According to the break up, Pakistan received workers’ remittances during November, 2006 from USA ($111.70 million), Saudi Arabia ($80.79 million), UAE ($67.42 million), GCC countries - including Bahrain, Kuwait, Qatar and Oman ($59.86 million), UK ($41.65 million) and EU countries ($14.26 million) as compared to the corresponding receipts from the respective countries during November 2005 i.e. $89.74 million, $48.30 million, $46.98 million, $47.06 million, $24.10 million and $8.03 million. Remittances received from Canada, Switzerland, Australia, Norway, Japan and other countries during November 2006 amounted to $72.78 million as compared
http://www.dailytimes.com.pk/default.asp?page=2006\12\17\story_17-12-2006_pg5_3
Re: Moody’s investors Upgrades Pakistan Bond Ratings
sa1eem
here are the stats
in 1999 we were 87 out of 99
Now its 142 out of 163
in 1996 we were 53 out of 54.
in 1995 we were 39 out of 41
Irfan is commiting massive journalistic dishonesty and his credibility/integrity is highly suspect because of this in my eyes.
gone are the days when such 'journalists' could spin stuff. everyone has access to info.
Re: Moody’s investors Upgrades Pakistan Bond Ratings
Fraudz:
You are right brother. Actually, similar article was written by Irshad Ahmed Haqqani of Jang group and it was really shocking how journalists of repute could write such articles.
It is like saying that A came 5th in 2001 class and B came 7th in 2004 class, so A is better student than B, the statement without mentioning total number of students in class, is an obvious statement to misguide. As, if A came 5th in a class that only had 5 students (he came last) and B came 7th in class with 100 student (a very good result), certainly B is much better student than A. So, quoting data where one figure is quoted and other is not, this can only be done to misguide people, and if these journalists are doing that, it is really sad.
Certainly, they cannot be ignorant; hence it is obvious that they are trying to misguide people intentionally.
[On the other hand, all data is dependent on how it is collected and best judge to do right interpretation is one that collected and tabulated the data. So, without reading what TI themselves says about the data and quoting it as ‘holy data’ in such way as to misguide people, is also a very heinous thing to do].
Re: Moody’s investors Upgrades Pakistan Bond Ratings
saleem - I am confused by the 2 sets of numbers. please clarify - did 67.21% of people say Musharaf govt is corrupt? That is quite bad
Re: Moody’s investors Upgrades Pakistan Bond Ratings
out of a 100% ...67% said that musharraf's second term is more corrupt than his first one. 33% thought that his first term was more corrupt. it is a comparison between the two terms.
as far as the number of people who thought musharraf's govt was corrupt , out of a 100% it was 3.17%, whereas 43% thought nawaz was corrupt, and 48% thought benazir was corrupt.
Re: Moody’s investors Upgrades Pakistan Bond Ratings
Foreign exchange reserves rise by $350 million during the last month proving the huge investment flooding into Pakistan.
Foreign Exchange Reserves climb to $12.51 billion](http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20061218\ACQDJON200612180152DOWJONESDJONLINE000046.htm&)
Re: Moody’s investors Upgrades Pakistan Bond Ratings
Where is this investment coming from and where is it going?
Re: Moody’s investors Upgrades Pakistan Bond Ratings
Most foreign investment in Pak these days is from Middle East and China
Re: Moody’s investors Upgrades Pakistan Bond Ratings
Better then nothing… I know ME emirates is investing big in real estate, but what exactly are the Chinese doing besides Gawadar port?