New Delhi, July 3 (IANS) Bangladesh’s power sector has run into a major crisis as the country’s independent power producers (IPPs) are facing a cash crunch due to increasing delays in payments by the government, according to a new report.The Bangladesh Power Development Board (BPDB) reportedly owes approximately Tk 25,000 crore to IPPs. As a result, the power producers are running out of working capital to purchase fuel, service debt, maintain equipment and pay thousands of employees, which is…
Latest Financial crisis News & Updates
United Nations, July 2 (IANS) The world organisation is in danger of going broke by the end of next month despite a lifeline thrown to it by the General Assembly through a change in funding procedure, according to UN officials. Assistant Secretary-General Chandramouli Ramanathan put it bluntly on Wednesday (local time): “We don’t have cash beyond August”.That’s just before the UN’s annual high-level meeting that convenes in September with a parade of world leaders.Come “September, money is gone”…
Thiruvananthapuram, June 19 (IANS) Leader of Opposition in Kerala Assembly Pinarayi Vijayan on Friday launched a sharp attack on Chief Minister V.D. Satheesan’s maiden Budget, questioning the government’s claim of a financial crisis and alleging that the document lacked a vision for the state’s future.Reacting to the Budget, Vijayan said the narrative built around Kerala being in a severe financial crisis, first through the White Paper and later repeated during the Budget presentation, app…
Chennai, May 10 (IANS) In an emotional and politically charged first address after assuming office as the Chief Minister of Tamil Nadu on Sunday, Tamilaga Vettri Kazhagam (TVK) President C. Joseph Vijay promised transparent governance, women’s safety, welfare-oriented administration, and a corruption-free government, while thanking the people for placing their trust in him. Addressing a massive gathering shortly after taking oath at the Jawaharlal Nehru Indoor Stadium here, Vijay said he rose …
New Delhi, Feb 24 (IANS) Pakistan’s economy is in dire straits as inequality and poverty are rising, while the Federal government is close to bankruptcy, according to an article in the Pakistani media.The article in the Karachi-based Business Recorder pitches for export-led growth as the way ahead to uplift the masses by creating economic opportunities, along with a drastic overhaul of governance in public service delivery, especially in education.It notes that political parties refuse to devolv…
Islamabad/New Delhi, Jan 30 (IANS) Pakistan has cut short the anti-polio campaign over cash crunch and a slash in workers’ payments, according to a media report.The Tribune Express reported that the duration of the anti-polio drive has been reduced to just four days from the earlier scheduled seven days.Major cuts have also been made to the compensation of male and female polio workers, area in-charges, and union council medical officers.While polio workers, previously paid a lump sum of 13,000 …
Chandigarh, Jan 28 (IANS) BJP National General Secretary Tarun Chugh on Wednesday termed the Aam Aadmi Party (AAP) government’s ‘Mukhyamantri Sehat Insurance Scheme’ in Punjab as misleading, impractical and entirely publicity driven. Chugh claimed the biggest and most fundamental failure of the scheme was its rigid package capping, which exposes the Rs 10 lakh health coverage claim as hollow from the very beginning.“The reality is that the scheme provides actual insurance of only Rs 1 lakh p…