IMF man to head State Bank of Pakistan

[pragmatic_dude]

Indeed. They were enjoying their perks & privileges and planning their post retirement plans. All this began with Musharraf signing NRO to let both crooks return to politics, then Kiyani proved to be a pet of Zardari and focussed solely on getting extension after extension. Raheel Shareef was much better but still he did not do the needful on many occasions and the same is with current COAS when he took a U-turn on the Dawn-leaks issue.

Weird country! Expectation to improve the economy is from the millitary. ‍

Your missing the point. Our problem is inside Pakistan. Not the darned IMF. Our failure is mainfested by having to go to IMF clutching our testicles. IMF does not jump on us. We go to it because we fcuk up. IMF is a symptom. We are the disease.


South Korea is practically a US colony but look how successful they are. We have had SOE's. We have a heavily regulated economy but the only thing that seems to have been nurtured in our case is rent seekers. Hyundai were rolling by 1970s.By 1980 they were exporting cars to UK.

Chung Ju-Yung founded the Hyundai Engineering and Construction Company in 1947. Hyundai Motor Company was later established in 1967. The company's first model, the Cortina, was released in cooperation with Ford Motor Company in 1968.[8] When Hyundai wanted to develop their own car, they hired George Turnbull in February 1974, the former Managing Director of Austin Morris at British Leyland. He in turn hired five other top British car engineers. They were Kenneth Barnett body design, engineers John Simpson and Edward Chapman, John Crosthwaite ex-BRM as chassis engineer and Peter Slater as chief development engineer.[9][10][11][12] In 1975, the Pony, the first South Korean car, was released, with styling by Giorgio Giugiaro of ItalDesign and powertrain technology provided by Japan's Mitsubishi Motors. Exports began in the following year to Ecuador and soon thereafter to the Benelux countries. Hyundai entered the British market in 1982, selling 2993 cars in their first year there.[13]

So Hyundai began making cars in 1967. Within 13 years years they were exporting to the world. Now pleasse tell me one Pakistan rent seeker who over 70 years has gone abroad and made their mark? Yes, Hyundai's founder Chung Ju-Yung began as a rent seeker who used the South Korean state to stand up but within 13 years he had built Hyundai into a global brand that was in competition with Ford, Toyota, Nissan, Honda etc.

Please give me one rent seeke dash industrialist who over the last 70 years under multitude of governments, military and elected has gone abroad and made a mark?

1975. Yes 1975, Hyundai made their first car. Tell me in 2019 after 70 years has Pakistan managed to make it's own car? No.

One thing about PMIK unlike your castrated egg, Modi is the type to never get pushed around. I think his entire life is testament to that including 22 long years in political wilderness.

The problem with simple people is they worship leaders. A leader on top of a weak institution is weak. If the IMF comes with a string of conditions, he has to accept it. It has nothing to do with how strong or weak he is.

 

[Nilgiri]

Your missing the point. Our problem is inside Pakistan. Not the darned IMF. Our failure is mainfested by having to go to IMF clutching our testicles. IMF does not jump on us. We go to it because we fcuk up. IMF is a symptom. We are the disease.


South Korea is practically a US colony but look how successful they are. We have had SOE's. We have a heavily regulated economy but the only thing that seems to have been nurtured in our case is rent seekers. Hyundai were rolling by 1970s.By 1980 they were exporting cars to UK.

Chung Ju-Yung founded the Hyundai Engineering and Construction Company in 1947. Hyundai Motor Company was later established in 1967. The company's first model, the Cortina, was released in cooperation with Ford Motor Company in 1968.[8] When Hyundai wanted to develop their own car, they hired George Turnbull in February 1974, the former Managing Director of Austin Morris at British Leyland. He in turn hired five other top British car engineers. They were Kenneth Barnett body design, engineers John Simpson and Edward Chapman, John Crosthwaite ex-BRM as chassis engineer and Peter Slater as chief development engineer.[9][10][11][12] In 1975, the Pony, the first South Korean car, was released, with styling by Giorgio Giugiaro of ItalDesign and powertrain technology provided by Japan's Mitsubishi Motors. Exports began in the following year to Ecuador and soon thereafter to the Benelux countries. Hyundai entered the British market in 1982, selling 2993 cars in their first year there.[13]

So Hyundai began making cars in 1967. Within 13 years years they were exporting to the world. Now pleasse tell me one Pakistan rent seeker who over 70 years has gone abroad and made their mark? Yes, Hyundai's founder Chung Ju-Yung began as a rent seeker who used the South Korean state to stand up but within 13 years he had built Hyundai into a global brand that was in competition with Ford, Toyota, Nissan, Honda etc.

Please give me one rent seeke dash industrialist who over the last 70 years under multitude of governments, military and elected has gone abroad and made a mark?

Thing is with Koreans, is they are relentleses. I do shudder at this K-pop garbage libtard crap they have now as their country main thing etc....becaues if you look at 20th century, they worked their butts off big time.

I remember to make sure that a big oil major (in gulf i think) went for their oil rig in the 70s...they worked 24/7, no sleep no food...everyone had to pitch in managers and all.....and they delivered the thing across the ocean taking 0 insurance (because no one found that liability attractive since south korea was so poor + no history in industry etc).

Another story I remember of 70s Korea is in construction, the worker asked his foreman for tools to do a job...and the foreman is like "what am i paying you for, to give you tools? i can hire anyone off the street, give him tools and he would do the job...so why did I hire you?" (I.e fix the problem you god damn self lol, dont come to me with excuses).

So it lot more than the automobile stuff (which tbh came later and was like cherry on top of cake). The core industry stuff, people need to want to get someplace and sacrifice everything to get there and succeed...nothing less works. In South Asia, lot of people (even when educated) are just content with doing stuff half-assed or not even trying...and then blame X Y Z for it later. There is essentially not enough of the "hive mind" in operation (i.e put your heads down and work your tail off) during the crucial early industrial phase....everyone already has a me-me-me bitch-bitch-bitch complex....because given prevalence of english in elite, they often have access to easy street "over there" anyway instead of being forced to succeed at home or bust.

 

[H!TchHiker]

Economy outsourced to IMF...good decision by IK...

 

[Fledgingwings]

Bad news.

 

[xyx007]

Bureaucracy is a engine of growth in developing countries.Corruption , inefficiency, bloated size,absence of accountability , and resistance to change were portrayed as the manifestation of Pakistani bureaucracy . Aren’t bureaucrats the source of our national failures,’ we ask? Their corruption, nepotism and customary incompetence have often been a scourge on Pakistan.
Yet, the question is why the Pakistani bureaucracy is so ill-organised? The paradox is that if the state has to provide services, administer justice, maintain law and order and bring about prosperity, and if it has to be effective, it has to have a good bureaucracy.

A country of 180 million people cannot be managed as a tribe on the basis of personal dealings and Jirga morality. It needs rules–based and impersonal decision-making, which is the hallmark of a real bureaucracy. To rebuild Pakistan, the first priority should be to restructure the bureaucracy, because that is the ‘machine’ that maintains law and order, implements public policies and produces services.

When you paid 25 Laks to clear in CSS exam and use your political pressure to appoint yourself on key post . then definitely , Economic hit men easily attack us because our foundation is not strong enough to handle the situation.

The deadly blow to the bureaucracy’s professionalism and integrity was given by the Prime Minister Bhutto, who removed the constitutional security of tenure for civil servants. After that the authority to post, transfer or retire began to be used to beat public officials into submission. What he began was completed by the president Zia ul-Haq and Prime ministers Nawaz Sharif and Benazir Bhutto.

Pakistan’s bureaucracy needs new codes of ethics for public responsibilities. A wide ranging exercise should be undertaken to formulate detailed codes of conduct for various services. A new moral order of public service has to be framed and enacted.

Apart from changing the behavioral norms of the bureaucracy, its structure and processes need a major overhaul. All steps in the public decision-making processes, from record keeping, information gathering, noting and drafting to the decision criteria and performance evaluation of officials have ossified.

 

[Crusher]

If this time you want money from IMF they aren't going to trust your corrupt lying bureaucrats of state bank and ministry of finance, that is probably the reason they have recommended this guy for the post of state bank president and the government of pakistan desperate for easy money from IMF is simply complying with their demand. That is also yet another testimony that international financial organizations don't trust much the financial expertise of local bureaucrats coming out of the CSS system of pakistan.

It is high time that Pakistan brings basic reforms in the selection and grooming process of new young bureaucrats, there is an urgent need to completely overhaul our good for nothing outdated CSS sh1tty system. This is an age of experts, an MA English literature or a Law degree holder fella who just happens to pass CSS exam cannot be turned into an expert bureaucrat for ministry of finance, FBR or State bank, but that is what is happening under pakistan's current CSS based system.

 

[FOOLS_NIGHTMARE]

Economy outsourced to IMF...good decision by IK...

Are you serious bro?.These Technocrats have nothing to do with IK or PTI,they are all KINGS men,recommended by KINGS boss. Throughout our history we have witnessed a lot of these novelties with a little temporary joy. These outsourced Pakistani look a likes have always been deputed at a heavier cost to the nation.Any sinister motives behind them will be exposed in no time. As an impotent nation we will still do nothing but just moan.

 

[H!TchHiker]

Are you serious bro?.These Technocrats have nothing to do with IK or PTI,they are all KINGS men,recommended by KINGS boss. Throughout our history we have witnessed a lot of these novelties with a little temporary joy. These outsourced Pakistani look a likes have always been deputed at a heavier cost to the nation.Any sinister motives behind them will be exposed in no time. As an impotent nation we will still do nothing but just moan.

I believe IK has the authority to appoint...

 

[LeGenD]

Isn't this sheer irony? Our politicians love to bash IMF in jalsa and in talk shows, but when they are at the helm of affairs, they request the same organization to fix Pakistan's economic woes.

What kind of society we are a part of.

@BHarwana
@Verve

 

[Skull and Bones]

From not going to IMF, to appointing a IMF appointed man as a head of State Bank. Things just got interesting.

 

[Pakistan Space Agency]

Why not just let the IMF fully takeover Pakistan? Only the disastrous PTI can manage this stunt.

 

[VCheng]

Isn't this sheer irony? Our politicians love to bash IMF in jalsa and in talk shows, but when they are at the helm of affairs, they request the same organization to fix Pakistan's economic woes?

What kind of society we are a part of.

@BHarwana
@Verve

What irony?

PMIK is not corrupt and he is a strong leader with the Army's backing. Every decision he is making is therefore in the best interests of Pakistan, without a doubt.

Tabdeeli aaa chuki hey! Aap ney ghabrana nahi hey.

Everything will be alright, just give him some time to deliver the results he promised.

 

[God Parshuram]

Some of the most successful countries in Asia have been driven by and worked under direct US umbrella. South Korea, Japan, Singapore, Taiwan come to mind. These are the East Asian tigers ....

So the for Pakistan to become Asian tiger is opened. Congrats. This should have happened much earlier.

 

[Darth Vader]

Its just strange hatred against IMF
Its Pakistan who runs towards imf for the bail out and i see people crying here
Any Pakistan who is half decent at his job and any attachment with any western company somehow being branded devil in humans disguise

People one suggestion lets just stop trading with whole world let the Mullah group create new economy for Pakistan
A guy who was worth trying he became demon he wasnt mulsim.

Honestly i dont blame politicians i blame people citizens who still vote them you guys deserve that

 

[Proudpakistaniguy]

Dictation nhi lein ghey hum IMF sey bus IMF k samne leet jahein ghey

https://twitter.com/x/status/1124581090264481793