josimar wrote:The biggest beneficiary in this whole arrangement will be China, we shall pay back the loan + interest, if the locomotives are from China be rest assuared that for the next 10Years we shall be purchasing spares from them. All these money will be going to their economy.
@josimar, And the alternative would be? Care to share?
Do we tax ourselves for several years to raise the amounts needed? How much would we raise and how much would that hurt the economy?
If loans are that bad,why do we take loans from banks?
Is it that individual development loans are good but gov't development loans are bad?
Bottom line is, if the loan is utilized well, the multiplier effect of an efficient transport system out weighs the financing costs.
We don't make spare parts of anything,heck we even import toothpicks. Where else would we be getting spare parts from if not importing.
What we should be championing is transparency and accountability.