Yellow Cab Scheme Hits Financial Hurdles

By Farhan Bokhari, Monitor | The Christian Science Monitor, September 1, 1993 | Go to article overview

Yellow Cab Scheme Hits Financial Hurdles


Farhan Bokhari, Monitor, The Christian Science Monitor


PAKISTAN has been flooded with about 51,000 new, fancy yellow cabs in the last two years, thanks to a scheme begun by Nawaz Sharif, the former prime minister.

From the largest urban centers to the remotest villages, it is hard not to see a slick yellow cab, mostly of Japanese or Korean make. But now the scheme has been stopped by Prime Minister Moeen Qureshi's government, largely because owners could not keep up with payments.

Many Pakistanis breathed a sigh of relief when the newer cars first replaced the battered old cabs which were in poor running condition, and some more than 20 years old.

Mr. Sharif hailed the scheme as one of his most important achievements, serving both the public interest and providing jobs to the unemployed. Owners were required to pay only 10 percent in down payments, with the rest financed through bank loans.

But the massive investment to import the new cabs and the failure of owners to keep up with payments finally broke the resolve of Pakistani banks to continue the program. At least 15 billion rupees ($500 million) was given in loans. Senior bankers say, however, that almost 70 percent of the cab owners have failed to maintain adequate payments.

In part, that is because Pakistani banks have had a poor track record of taking over defaulted assets and liquidating them. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

Yellow Cab Scheme Hits Financial Hurdles
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.