Asian development bank pakistan



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ISLAMABAD: Pakistan has had no luck with the World Bank funding its 4500 power unit Diamer-Bhasha dam, a protrude that bharat opposes, because it's set in a disputed area in Gilgit-Baltisan. And yesterday, the Asian Development Bank (ADB) too declined to fund the $14 billion dam over the Indus river, Pakistani media reported. Two days ago, the World Bank refused to go on board as a lender for Diamer-Bhasha, because Pakistan didn't want to seek a no-objection instrument from India for the project.
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THE asiatic DEVELOPMENT BANK ORDINANCE, 1971 ORDINANCE NO. IX of 1971 [16th April, 1971] An Ordinance to implement the international agreement for the establishment and operation of the Asian modification Bank and for matters connected therewith. In this Ordinance, unless in that respect is thing detestable in the capable or context,— (a) "Agreement" means the preparation for the estab­lishment and operation of the international body known as the Asian Development Bank; (b) "Bank" means the Asian Development banking concern estab­lished below the Agreement. commercial enterprise provisions.—(1) There shall be paid out of the [Federal Consolidated Fund.] 4. The State financial organisation of Pakistan shall be the depository of the Pakistan currency holdings and other quality of the Bank located in Pakistan. Certain provisions of the agreement to have force of law.—(1) Notwithstanding anything to the contrary restrained in any other law, the supply of the Agreement set out in the Schedule shall have the force of law in Pakistan: Provided that nothing in subdivision 56 of the Agreement shall be construed as— (a) entitling the Bank to import into Pakistan good free of any duty of customs without any restriction on their subsequent sale therein, or (b) conferring on the Bank any immunity from duties or taxes which shape physical object of the price of goods sold or which are in fact no additional than charges for services rendered. The [Federal Government] may, by notification in the official Gazette, get rules for carrying out the purposes of this Ordinance. WHEREAS PAKISTAN is a signatory to the understanding establishing the Asian Development Bank and thereby became a part of the said Bank; AND WHEREAS it is expedient to make provision for the implementation of the planetary concordance for the establish­ment and operation of the aforesaid Bank and for carrying out the obligations of islamic republic of pakistan as a member of the said Bank and for matters affiliated therewith; NOW, THEREFORE, in pursuance of the Proclamation of the 25th day of March, 1969, read with the Provisional Constitution Order, and in utilisation of all powers enabling him in that behalf, the President is chuffed to alter and promulgate the following Ordinance :— 1. (3) It shall travel into cause at once and shall be deemed to have taken effect from the 19th December, 1966. (2) The [Federal Government] may, by notification in the official Gazette, amend the Schedule in conformity with any amendments, which may hereafter be duly made and adopted, of the provision of the Agreement set out therein. THE plan (See part 5) Provisions of the accord which shall have the force of law..
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