K-P to pay Rs15 billion interest on BRT loan

[RajaRawal111]

Despite Pakistan Tehreek-e-Insaf (PTI) chairperson Imran Khan’s criticism on foreign loans taken by the federal government, the PTI led Khyber-Pakhtunkhwa (K-P) government has agreed to a deal where they will be paying Rs15 billion in interest alone.

The Asian Development Bank and the K-P government have signed an agreement, for the former to release a loan of Rs35 billion – to be paid off over a 20 year period – for building a Bus Rapid Transit (BRT) system in Peshawar.
The total amount needed for the BRT comes to over Rs61.8 billion and the project will be inaugurated on 19th of October.

​

According to the loan agreement documents, a copy of which is available with The Express Tribune stated that ADB has approved over Rs35 billion to be given for executing the BRT project to the borrower (K-P government) for a principal repayment period. The K-P government, according to the agreement, will pay interest at the Libor rate.

Currently, the Libor interest rate for a 20 year loan is 2.64% annually, against the total loan payment while 0.10% is the annual maturity premium, followed by a 0.15% commitment charge, which brings the total to almost 3%.

According to the interest rate, the K-P government is supposed to pay ADB an amount of around Rs51 billion, including both the principal amount and the interest. The loan agreement will start biannually from August 2022 starting from repaying 1.75% of the total loan which will later be increased to 3% and by 2042 all the repayments will be completed.The document also says that during the implementation period of the project, 2017 to 2021, a total of Rs1.4 billion will be paid to the ADB as interest against the withdrawal amount.

The document has a payment schedule specified for this period as well, where the K-P government will receive Rs2.5 billion in 2017, Rs15.5 billion in 2018, Rs12.2 billion in 2019, Rs2.7 billion in 2020 and Rs2 billion will be given for the project’s execution in 2022.
Other than the ADB, a loan of $150 million will be taken from Agence Française de Development (AFD) and the European Investment Bank (EIB) while the rest of the amount will be afforded by the K-P government.

According to details, the BRT in Peshawar will be accessible to 17 per cent of the city’s total population or around 500,000 individuals. According to the plan, BRT routes will be extended beyond the corridor to provide ease to the population living in urban areas of the city.
The proposed BRT corridor is located in a busy part of the city and will be ideal for daily commuters. K-P Finance Minister Muzafar Said was frequently contacted for comment but he could not be reached.

Source

 

[RajaRawal111]

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[Okara]

Do we have any such official document for Punjab projects other than few statements?

 

[RajaRawal111]

Yes they will deliver them right at your door. Just have to be that important
What official document you have seen on this one ????

Do we have any such official document for Punjab projects other than few statements?

 

[Munawarkhan]

Looks totally fine. 20 year loan period starting at 1.75% is an excellent rate. Considering they have to start the payment after 5 years.

Peshawar badly needs a breakthrough transportation system ( infact every large city in Pakistan needs one).
Federal should've supported like they supported the Lahore / Multan Metro projects with funds. The biasses of Federal is very clear.

If you feel that Rs. 15 billion over 25 years is too much, the just compare this with Pindi metro projects. Our federal & Punjab govt paid subsidy of around Rs. 2.5billion in less than 2 year. God Knows how much subsidy they are paying for Lahore & Multan Metro. Interests for these projects are a separate story.

I know that bughz - E - Imran main in stories ko stories ko twist dena aap ki majbori hai, but be fair.

 

[RajaRawal111]

جی جی یہ ہوئی نہ بات اصلی الی
اسے موقع پر یہ بھی کہتے ہے کہ --- جتھے ساڈا نور جمال کھوتا کھرکا سب حلال

Looks totally fine. 20 year loan period starting at 1.75% is an excellent rate. Considering they have to start the payment after 5 years.

Peshawar badly needs a breakthrough transportation system ( infact every large city in Pakistan needs one).
Federal should've supported like they supported the Lahore / Multan Metro projects with funds. The biasses of Federal is very clear.

If you feel that Rs. 15 billion over 25 years is too much, the just compare this with Pindi metro projects. Our federal & Punjab govt paid subsidy of around Rs. 2.5billion in less than 2 year. God Knows how much subsidy they are paying for Lahore & Multan Metro. Interests for these projects are a separate story.

I know that bughz - E - Imran main in stories ko stories ko twist dena aap ki majbori hai, but be fair.

 

[Will_Bite]

So you mean that if the central govt had paid kpks royalties and pending dues of over 100 billion, kpk wouldn't need this?

And secondly this is a projected figure... Likely to be less.

But the again we are debating noon leagues official town crier. So let him be a raja

 

[RashidAhmed]

جی جی یہ ہوئی نہ بات اصلی الی
اسے موقع پر یہ بھی کہتے ہے کہ --- جتھے ساڈا نور جمال کھوتا کھرکا سب حلال

کھر کی سابقہ بیگم خادم اعلیٰ نے حلال کی ہوئی ہے
اور کھر پی ٹی آئی میں آکر حلال ہوگیا ہے
(bigsmile)

 

[arafay]

this cost will be paid by the 500k riders who use the bus unlike punjab where Rs5-10 billion per year are spent on subsidy of metro buses. This doesn't include the 10 billion per year subsidy of lahore orange train.

Punjab govt is effectively pay people to ride metro bus and metro train. The irony is that this service is mainly used by citizens of lahore and rawalpindi while the subside comes from tax collected from all 35 districts of punjab. This means that a punjabi kids born in bhakkar/gujrat/dg khan etc, who may never visit lahore/rawalpindi/multan and will never ride metro bus or train in their entire life, will be forced to fund lahore metro riders their entire life!

 

[zaheer2003]

Yes they will deliver them right at your door. Just have to be that important
What official document you have seen on this one ????

Official Details Here..........

https://www.adb.org/projects/48289-001/main

 

[Dawood Magsi]

Its a Shame the thieves in Federal Govt do not provide funds to KP and invest everything in Lahore, how big is the 35 Billion rupee amount for federal govt ? why cant they provide the funds to the most effected province by terrorism in last 15 years ? And the load example set by Punjab will be followed by every other province because the Nawaz Khhanzeer has set the standard of development with Metroes, so there goes another Metro.

 

[Munawarkhan]

جی جی یہ ہوئی نہ بات اصلی الی
اسے موقع پر یہ بھی کہتے ہے کہ --- جتھے ساڈا نور جمال کھوتا کھرکا سب حلال

So you mean that if the central govt had paid kpks royalties and pending dues of over 100 billion, kpk wouldn't need this?

And secondly this is a projected figure... Likely to be less.

But the again we are debating noon leagues official town crier. So let him be a raja

It's not only the pending dues, but centre also didn't pay a single penny for peshawar transport. whereas, federal not only contributed to the cost of Lahore, Multan & Pindi metro, but also are paying 60% subsidies on these projects. in kay bap ka raj hai isi liyay badshahat banayee hui hai. bad main jamhoriat jamhoriat rotary hain.

 

[Jehanzeb Khan]

A few rational arguments and i dont see any patwari likhari any where nearby ......hahaha

 

[mhafeez]

this cost will be paid by the 500k riders who use the bus unlike punjab where Rs5-10 billion per year are spent on subsidy of metro buses. This doesn't include the 10 billion per year subsidy of lahore orange train.

Punjab govt is effectively pay people to ride metro bus and metro train. The irony is that this service is mainly used by citizens of lahore and rawalpindi while the subside comes from tax collected from all 35 districts of punjab. This means that a punjabi kids born in bhakkar/gujrat/dg khan etc, who may never visit lahore/rawalpindi/multan and will never ride metro bus or train in their entire life, will be forced to fund lahore metro riders their entire life!

اس بات کا کوئی جواب نہیں دیتا کہ لاہور کی آبادی پشاور سے سات گنا زیادہ ہے لیکن اسکی میٹرو پر سوا لاکھ سواریاں روزانہ سفر کرتی ہے تو پھر پشاور میٹرو کے دو نمبر روٹ پر پانچ لاکھ کیسے سفر کریں گے یاد رہے ایک نمبر روٹ وہ تھا جس کیلئے ریلوے نے زمین نہیں دی

 

[mhafeez]

Its a Shame the thieves in Federal Govt do not provide funds to KP and invest everything in Lahore, how big is the 35 Billion rupee amount for federal govt ? why cant they provide the funds to the most effected province by terrorism in last 15 years ? And the load example set by Punjab will be followed by every other province because the Nawaz Khhanzeer has set the standard of development with Metroes, so there goes another Metro.

لاہور اور ملتان میٹرو کیلئے وفاق نے کوئی پیسے نہیں دئے ، اسلام آباد میٹرو وفاق کے زیرانتظام علاقے میں بنی اس لئے وفاق نے اپنے حصے کے پیسے دئے پنڈی والے حصے کے پیسے پنجاب نے دئے

لاہور میٹروجب بنی تو وفاق میں پیپلز پارٹی کی حکومت تھی ، جنہوں نے کوئی ٹیکس معاف نہیں کیا ، نواز شریف نے متعدد بار خٹک کو مدد کی پیش کش کی لیکن خٹک نے ریجیکٹ کردی ، اب طعنے فائدہ؟

 

[Dawood Magsi]

لاہور اور ملتان میٹرو کیلئے وفاق نے کوئی پیسے نہیں دئے ، اسلام آباد میٹرو وفاق کے زیرانتظام علاقے میں بنی اس لئے وفاق نے اپنے حصے کے پیسے دئے پنڈی والے حصے کے پیسے پنجاب نے دئے

لاہور میٹروجب بنی تو وفاق میں پیپلز پارٹی کی حکومت تھی ، جنہوں نے کوئی ٹیکس معاف نہیں کیا ، نواز شریف نے متعدد بار خٹک کو مدد کی پیش کش کی لیکن خٹک نے ریجیکٹ کردی ، اب طعنے فائدہ؟

see how little knowledge is dangerous ?

https://tribune.com.pk/story/1111747/panama-leaks-projects-k-p-hit-snag-centre-delays-funds/


Federal Govt has stopped the development funds of KP, they did 40% last year and again this year.

 

[arafay]

?? ??? ?? ???? ???? ???? ???? ?? ????? ?? ????? ????? ?? ??? ??? ????? ?? ???? ???? ????? ?? ??? ???? ??????? ?????? ??? ???? ?? ?? ??? ????? ????? ?? ?? ???? ??? ?? ???? ???? ???? ??? ???? ?? ??? ??? ??? ???? ??? ?? ??? ?? ????? ????? ?? ???? ???? ??

the reason why lahore has 125k riders is because pmln pays these riders over 40rs per ticket on a single track bus service. The break even price for a ticket is over 60rs while the passenger is charged just rs 20. If passengers are charged the true cost of the ride, the number of riders will come down to 25k revealing the poor planning, mismanagement and lack of vision of paindo punjabi nation.

The peshawar rapid bus service has 5 tracks and dozens of routes reaching every corner of the city. It has more buses and more stops and thus make it easier for passengers to reach any major spot in peshawar from anywhere in the city. This is why the ridership will be close to 500k. The feasibility has been prepared by ADB so I trust their judgement and expertise. If feasibility of peshawar bus service was done by punjab govt then your question would be pertinent.

Another example of failed metro project is multan metro which has poor ridership despite heavy subsidy. Now punjab govt started banning wagon companies of multan to force people to use multan metro buses.

Islamabad metro project also failed earlier despite heavy subsidy and funding by federal govt.
https://www.dawn.com/news/1247577

This is what happens when punjabi is given leadership position. At most punjabis should get class IV jobs because they would cause minimum damage/wastage at that level.

 

[Saqi99]

اس بات کا کوئی جواب نہیں دیتا کہ لاہور کی آبادی پشاور سے سات گنا زیادہ ہے لیکن اسکی میٹرو پر سوا لاکھ سواریاں روزانہ سفر کرتی ہے تو پھر پشاور میٹرو کے دو نمبر روٹ پر پانچ لاکھ کیسے سفر کریں گے یاد رہے ایک نمبر روٹ وہ تھا جس کیلئے ریلوے نے زمین نہیں دی

BRT has 8 feeder routers which gives coverage to additional 68 kms.

 

[RajaRawal111]

اس بات کا کوئی جواب نہیں دیتا کہ لاہور کی آبادی پشاور سے سات گنا زیادہ ہے لیکن اسکی میٹرو پر سوا لاکھ سواریاں روزانہ سفر کرتی ہے تو پھر پشاور میٹرو کے دو نمبر روٹ پر پانچ لاکھ کیسے سفر کریں گے یاد رہے ایک نمبر روٹ وہ تھا جس کیلئے ریلوے نے زمین نہیں دی

So you mean that if the central govt had paid kpks royalties and pending dues of over 100 billion, kpk wouldn't need this?

And secondly this is a projected figure... Likely to be less.

But the again we are debating noon leagues official town crier. So let him be a raja

Hafeez sahib I asked same question about 10 months ago. And will-bite told me that peshawar is like Manhattan where every day lots of officials with naswar in their mouth come from suburbs and work in the skyscrapers of peshawar. They will make the figure of massive travellers. Is it not true will-bite ?

 

[Okara]

Please read your post. Its clearly saying from loan documents. Do we have such agreement for any Punjab projects which is available to public? Alhamdu Lillah all records related to mega projects were burnt.

Yes they will deliver them right at your door. Just have to be that important
What official document you have seen on this one ????