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Pakistan is in a debt (death) trap

Look bro, Pakistani economy is in trouble. I guess we both agree on that.

Unfortunately your assumption of west is a Santa that comes to save people. No, their help always comes with political attachments. They will plant useless people, actually their lackies, in your country through training them in their universities and through financing them.

Pakistani economy has come a long way and no sane person would ask a country to depend on one side. China has huge benefit from dealing with west. It had good and bad results, they have almost lost Taiwan but they have become a global economic power.

Paktsan is different from China, Pakistan is a Muslim majority country hence hated by westerners by majority of them. This factor slowly but surely tries to align your country and society with western values under prrssure of IMF/FATF etc. Slowly breaking you, slowly changing your culture and slowly destroying your traditions. No matter how much you resist, the way your politocians and military men rule the country, they will eventually win.

Pakistan is militarily, governmentally, economically and politically aligned with west hence this miserable situation.

Pakistan has a huge labor force but unlike China, they leave the country for remittances. I have seen Pakistani workers, man they have screwed the concept of hardworking but they work for someone else. That's my point, your workers along with your talented people migrate to west and work for them at every level of their societies. At the end of story Pakistanis and Asians as a whole are insulted as refugees and invaders of western and Arab countries while we know that without these hardworking people, Arabs won't be able to clean their backside let alone harwork.

Pakistan has been suffering and suffering because of western imposed models on their politica, military and economy. You can't blame others for it.

Help from virtually any country comes with political attachments or expectations.
CPEC also has terms and conditions.
Economically strong country is able to negotiate better deals with other countries.
Economically weak countries are vulnerable to exploitation.

Western business ethics are infinitely better than Asian business ethics. China has tremendously benefited from Western investments but see this. This is how you shoot yourself in the foot.

I have to disagree with you. Western people do not hate Pakistani but they are put off by sheer level of corruption and lack of work ethics in the country.




FATF was aimed to reduce corruption in Pakistan but it has failed to.

Pakistan has not managed to create a sustainable economy due to political instability and prevalence of corruption.
Pakistan has failed to develop and protect its industry and rely too much on imports from China to meet local needs.
Pakistan rely too much on remittances to bridge gap between imports and exports.
This is why Pakistan knocks on the door of IMF from time-to-time.

I have always maintained that Pakistan must have good bilateral relations with as many countries as possible.
Pakistan has 4 neighbors and it is on good terms with just one neighbor. Imagine this.

Priorities, bro.
So much is wrong here.
 
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Help from virtually any country comes with political attachments or expectations.
CPEC also has terms and conditions.
Economically strong country is able to negotiate better deals with other countries.
Economically weak countries are vulnerable to exploitation.

Western business ethics are infinitely better than Asian business ethics. China has tremendously benefited from Western investments but see this. This is how you shoot yourself in the foot.

I have to disagree with you. Western people do not hate Pakistani but they are put off by sheer level of corruption and lack of work ethics in the country.




FATF was aimed to reduce corruption in Pakistan but it has failed to.

Pakistan has not managed to create a sustainable economy due to political instability and prevalence of corruption.
Pakistan has failed to develop and protect its industry and rely too much on imports from China to meet local needs.
Pakistan rely too much on remittances to bridge gap between imports and exports.
This is why Pakistan knocks on the door of IMF from time-to-time.

I have always maintained that Pakistan must have good bilateral relations with as many countries as possible.
Pakistan has 4 neighbors and it is on good terms with just one neighbor. Imagine this.

Priorities, bro.
So much is wrong here.
Ok, looks like you are happy with western investment in your country. Enjoy the outcome
 
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Once a Govt is compelled to take loans to repay previous loans, once it loses its ability to control fiscal events and activities, once a govt cannot reclaim ownership of assets it was compelled to mortgage.. its best to wipe the slate clean with declaring a state of default and start afresh.Provided of course, the courage exists to make the changes necessary to go forward.

View attachment 950905

KARACHI:
During the last week the Pakistani Rupee achieved a historic first. It broke through the Rs300 barrier against the Dollar. Other firsts were also recorded: The price of petrol broke through the Rs300 per litre barrier. The cost of a unit of electricity rose to a historic high. More increases are forecast for the coming weeks.

Inflation is on the rampage. It is near impossible now for the poor to cover their basic living expenses. Defiant protestors are taking to the streets to burn their electric bills in public. Retailers are observing “shutter down” days to register their disapproval or disgust at the way the economy is being managed.

All this has not happened suddenly. It has been in the making for a long time. Corrupt, incompetent and in many cases illiterate politicians have been voted into power time and again. This the result of a sham democracy that has enabled feudal landlords, land grabbers and gangsters to terrify and compel a hapless nation to vote for them. And once voted into the corridors of power their main interest is to enrich themselves. The public be damned.

Can Pakistan be fixed and put back on the track? The answer is yes. But doing so will need the sort of courage and daring that has been lacking in the past. As it stands today, there is a transition government in place with a constitutional mandate to hold elections within 90 days and hand over power to an “elected” government.

This is a recipe for disaster. Elections under the present system will bring the same old crooks back to power who will, without doubt, hammer the final nail into the coffin. Saving Pakistan will involve two sets of measures – short term and long term.

Look at the short term first: Pakistan is choking on debt. Tracheostomy needs to be applied immediately. Consider that in the coming fiscal year the government’s own budget estimate puts government revenue by tax collection at Rs7 trillion. The same estimate puts expenses at Rs14.5 trillion. Of this Rs14.5 trillion, Rs7.4 trillion is for debt repayment. Consider the absurdity of this: The entirety of government revenue fails even to cover debt repayment!

We are in a debt trap, really a death trap. The only way to escape it is to place an immediate moratorium on all debt repayments – interest and principal. This should apply to all lenders – institutional and private. At the same time negotiations must begin on sensible restructuring with the expectation that all lenders should be ready to take a substantial haircut.

This is not a step for the faint hearted. And certainly not a step that the present transition government will take, especially since its finance minister is a former World Bank executive. Her and her ilk consider default, which is what a moratorium will mean, to be anathema.

To be clear, default will have unpleasant consequences. But they will be nowhere as serious, or irreversible, as death. In fact, it (default) will give us room to put our house in order. We have a steady stream of remittances which last year was of the order of $30 billion. Our exports are of the same order of magnitude. What will be needed is a drastic reduction in imports, which are out of control, and a zero-based budgeting (ZBB) approach to government expense.

Put all this together: moratorium, debt restructuring, haircut, remittances, export earnings, cut in imports and ZBB for government expenses and you have potentially a lifesaving formula.

To design and implement this, the composition of the transition government must be changed. Anyone who has anything to do with the International Monetary Fund (IMF) or World Bank must be removed. These are people whose DNA is infected with a virus that gives them resistance to any solution that does not involve taking more debt.

Once a competent transition government is in place its mandate must be changed: Elections are to be put off as long as is needed to put the economy back on track. And the primary mandate must become economic and political restructuring. Because once the economy is saved, putting it back in the hands of the people who brought us here borders on insanity.

In the longer term, the political system must be redesigned to, in effect, interdict the path of the usual crooks – feudals, land grabbers and gangsters – to parliament. And instead, open the door to people of competence, integrity and decency to play their role in running the nation. This is not impossible to do. Several measures come to mind. The simplest of these, and the easiest to achieve, is to give the right to vote only to people who have completed matriculation.

Voters who have a basic level of education will not be easily intimidated or fooled. They will be able to vote according to their conscience rather than being commanded to vote by a local landlord. They will welcome new entrants who represent a departure from the dismal past and truly promise a new beginning.

There are self-appointed guardians of democracy, especially in the West, who will protest that this is undemocratic. They need to understand that democracy does not come in one shade or colour. And that there is no manual of democracy descended from the sky which says that there must be a vote for everyone. In fact, in the Islamic tradition “democracy” involved consultation with those who were the most able to provide it.

Pakistan needs to find its own way. We can no longer afford to remain slave to those who value their own interests above ours.

The writer is Chairman of Mustaqbil Pakistan. He holds an MBA from Harvard Business School and an engineering degree from MIT

Published in The Express Tribune, September 4th, 2023.
Nations only progress if there leaders are sincere to there people, sadly Pakistani nation is enslaved to the army so no chance there. Economy only moves forward when the wheels of the economy is oiled by the traders and investors who think their monies are safe in the country and they will be rewarded with there investments with profits.
When country investors are buying properties abroad then obviously they feel there investments are safe abroad. If some one brings money into the country it always ends up in tears so Pakistan is no go area for most investors contrary to the propaganda of DHA foujistan regime. Let people free and follow the rules and the law it benefits all.
 
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Ok, looks like you are happy with western investment in your country. Enjoy the outcome
Pakistani leaders have come up with the cypher story for political reasons and gains but no side has benefitted from this nonsense. Public is not interested in this BS but desire accountability, growth, and a sound foreign policy.

A large number of households in Pakistan are able to make ends meet due to employment created by Western companies and Western clients. These households positively contribute to economy of the country.

Pakistan cannot excuse itself from Western markets, investors, and clients and call it a day. This is not how it works.

What is the alternative then?
Chinese market is different.
Chinese consumers are different.
Russian market is different.
Russian consumers are different.

Iran has oil that can be sold to other countries. Pakistan does not have this luxury.

Pakistan cannot follow in the footsteps of Iran and risk global isolation. Pakistan cannot risk becoming another North Korea. Pakistan will descend to civil war if it comes down to this.

If something in the country is right, do not damage it.

1. Pakistan is in dire need of societal reforms and Good Governance.
2. Pakistan needs to find a way to make electricity affordable and revive its industrial capability.
3. Pakistan should strive for having good bilateral relations with as many countries as possible.

This is how Pakistan will become strong and have an independent foreign policy.

If you want to do bloc politics and fight Cold War of superpowers, you are not a strong country with independent foreign policy but an expendable pawn in FITNA of others.

Smart countries will excuse themselves.
 
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Alot of business men have been sending money to UAE to buy properties.

I guess they know parking their savings in UAE property or in AED is a better option than keeping a property in Pakistan or saving in PKR.
 
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No army inside on 100 kms from the border.
No dha, no army run industries , no jobs for anyone from the army in any other govt or private institutions.

Army role is at the border to keep our map intact.

Sell all dha and use that money to install textile industries. That's our main export. Strengthen it.

Sell all vigos and invest in 2-3 big universities to pay faculty from best of Pakistan anywhere in the world. No religion or politics in this place to be allowed.

Free or subsidized education here for the best of students (from entrance exams so no recommendation, jernails kids get entry nothing of that sort)

Agreement from these graduates that 5-10 years after graduation, stay in pak and build something in pak (in return for free or subsidized education)

Doesn't matter which way you govern .. the above is very much possible. The most minimum we can do to atleast guarantee a foothold of an economy to grow at a later stage.
 
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Pakistan has to reduce it expenditure and learn to live within its means.. and of course, actually get the middle class and wealthy to pay taxes !!! ( novel concept for pakistan )..

reduction of the defence spending, increase spending in education to stimulate growth would be good ideas too...

The country was also hit by a 20 year old Afghan war, preceded by three years of sanctions and proceeded by devastating floods.

It's political history and stability needs to be assessed when discussing economic problems. Plus it the country needs to repatriate millions of illegal migrants.

It won't solve the problems of the country but definitely reduce a fraction of them. We should not be taking in migrants when our own don't have have a proper standard of living/
 
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It was PVN who guarded MMS. If he was not there then MMS wouldn't even not able to present budget.

MMS did a commendable job of presenting budget by riding back of PVN support. So, I rate PVN as father of India's economic revival policy rather than MMS, he not only showed most remarkable will power for allowing MMS to present the budget but also stood on ground when his own party INC opposed it and because of it he remined sidelined by INC for his entire life and until recent INC refused to recognise his contribution toward India economic revival.

Pakistan have MMS but they are lacking PM of PVN caliber :-) when IK became PM I thought he will turnaround Pakistan economy but he found out more novice than NS.



I forgot that point
You sound like saying MMS doesn't deserve that credit.


PVN, the whole Congress, Janata dal, CPI M all came together then to pull India out of bankruptcy.

Yes he was listened to as a technocrat, and a smart guy by the politicians who realized they were in above their heads when gold had to be shipped off to London to pay for food for people.

Politicians like Congress BJP and Communists only let educated people take control when it suits them.

I appreciate PVN having guts enough to let smarter guys take over when they failed, give it to him, the flip side which is not very well known is PVN was a nobody put in PMs chair to make unpopular decisions.

That's politicians for you.

Now back to Imran Khan, he alone doesn't have that kinda power for sure, he landed up in jail since the political setup nor common people gave him enough support, that's why he failed compared to PVN.

Closest to MMS comparison would be that economist that was fired for being an Ahmadi, MMS was given support soon after the sikh hatred and riots stemming from Indiras murder, Pakistani are so infatuated with religion that they can't even tolerate a minority that never did that nation nothing but good

Therein lies the rub, a tolerant society progresses, others are relegated to servitude.

(Apologies for a rather long post, just biding time on a long flight)

Cheers!
 
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They need a Manmohan Singh, but public isn’t ready for that yet.
Manmohan singh will fail in Islamic republic , they need dictator who can deal with religious clergy with iron hand .There is one hope if they can learn from saudi arabia , total control on mullas and modernisation in daily life .
 
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Manmohan singh will fail in Islamic republic , they need dictator who can deal with religious clergy with iron hand .There is one hope if they can learn from saudi arabia , total control on mullas and modernisation in daily life .
Let's not whitewash all Islamics.

Look at Iran, Turkey, Indonesia, great examples of a modern successful Islamic society that respects others rights and beliefs.

Pakistan isn't Islamic by a long shot, fwiw it's a mish mash of people that value power and supremacy of their culture over others.
Islam was, and is, abused by a lot of Pakistanis for money and power.

Give a thought on this, these are the kind of people who disrespect their own holy book for greed of money..
 
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Let's not whitewash all Islamics.

Look at Iran, Turkey, Indonesia, great examples of a modern successful Islamic society that respects others rights and beliefs.

Pakistan isn't Islamic by a long shot, fwiw it's a mish mash of people that value power and supremacy of their culture over others.
Islam was, and is, abused by a lot of Pakistanis for money and power.

Give a thought on this, these are the kind of people who disrespect their own holy book for greed of money..

Turkey and Iran no. The opposite. Turkey and Iran have suppressed the rights of religious minorities. Not that Pakistan is much better.
 
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middle class and wealthy to pay taxes !!!
only the middle class pays taxes in pakistan. the wealthy know ways to avoid it, or simply bribe the officials. the poor do not earn enough to be directly taxed.
 
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You sound like saying MMS doesn't deserve that credit.


PVN, the whole Congress, Janata dal, CPI M all came together then to pull India out of bankruptcy.

Yes he was listened to as a technocrat, and a smart guy by the politicians who realized they were in above their heads when gold had to be shipped off to London to pay for food for people.

Politicians like Congress BJP and Communists only let educated people take control when it suits them.

I appreciate PVN having guts enough to let smarter guys take over when they failed, give it to him, the flip side which is not very well known is PVN was a nobody put in PMs chair to make unpopular decisions.

That's politicians for you.

Now back to Imran Khan, he alone doesn't have that kinda power for sure, he landed up in jail since the political setup nor common people gave him enough support, that's why he failed compared to PVN.

Closest to MMS comparison would be that economist that was fired for being an Ahmadi, MMS was given support soon after the sikh hatred and riots stemming from Indiras murder, Pakistani are so infatuated with religion that they can't even tolerate a minority that never did that nation nothing but good

Therein lies the rub, a tolerant society progresses, others are relegated to servitude.

(Apologies for a rather long post, just biding time on a long flight)

Cheers!

Without support of PVNs MMS was just a bureaucrat nothing more, under the PVN, MMS presented economic revival plan for India and became greatest reformer. Indians forgot PVNs contribution toward economic revival, whereas MMS became PM in 2004.

Though MMS has been the best FM & PM for India but people forget to recognize the contribution of PVN who put MMS in driving seat.

regarding Pakistan, till the time Establishment is in control of the economy nobody can change situation of Pakistan. IK is just another opportunist like NW & BB, he was used like sugarcane and thrown out.
 
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Turkey and Iran no. The opposite. Turkey and Iran have suppressed the rights of religious minorities. Not that Pakistan is much better.

Turkey still treats kurds as their people and separated PKK from Innocents.

Iran respects their own Sunnis Christians Zoroastrians Jews and Ahmadis.

When did we last hear of a Kurdish or Sunni mosque blown up in a turkey or Iran?

Without support of PVNs MMS was just a bureaucrat nothing more, under the PVN, MMS presented economic revival plan for India and became greatest reformer. Indians forgot PVNs contribution toward economic revival, whereas MMS became PM in 2004.

Though MMS has been the best FM & PM for India but people forget to recognize the contribution of PVN who put MMS in driving seat.

regarding Pakistan, till the time Establishment is in control of the economy nobody can change situation of Pakistan. IK is just another opportunist like NW & BB, he was used like sugarcane and thrown out.
You kinda are repeating whatever I am saying anyways, you seem to have an issue with MMS right?
 
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