Pakistan seeks waiver of $50 bn foreign debt

[ajtr]

Pakistan seeks waiver of $50 bn foreign debt​

Islamabad, Nov 14 (IANS) Pakistan Sunday urged the international community to waive its debt of over $50 billion to ease the financial burden on the country and enable it to combat terrorism and other challenges.

The country has paid a 'heavy price' after becoming part of the war on terror in 2001, Interior Minister Rehman Malik said at the inauguration of the two-day Pakistan Development Forum here.

'The waived-off foreign debt will be utilised in the fight against terrorism,' he said adding: 'We need trade instead of aid.'

The minister said: 'Terrorism in Pakistan is being exported from Afghanistan as around 50,000 people crossover daily to the Pakistani side from the porous borders with Afghanistan.'

Pakistan has been demanding financial and trade assistance from the world after suffering from heavy losses of life and infrastructure in rampant terrorism activities that have killed thousands of people since the start of operations against the Taliban in the country's northwest and neighbouring Afghanistan since 2001.

At the Forum, Pakistan's provincial and federal representatives presented before the audience, which included foreign envoys and representatives of financial institutions, details of their requirements after the devastation caused by the floods, which have left more than 1,800 people dead and over 20 million homeless across the country.

 

[jayron]

What ever makes them stable! But I don't agree their reason for their economic condition. Would they rather live with and let the terrorists grow than destroy them just to have a stable economy?

 

[flameboard]

a stable economy is what they need to keep fighting the Taliban why do u think the USSR collapsed?

 

[Evil Flare]

we have to repay our loan .. that loan is given to us by bankers not by any govt .

 

[xenia]

we have to repay our loan .. that loan is given to us by bankers not any govt .

sorry???????

 

[Hyde]

yes yes, please do it
=========
Sayasi bayan hai bhai logo - zayada tawajjo naa do

 

[xenia]

instead of having a begging bowl, FO ll do a great job if it gets the loan waived..we can use that money to overcome budget deficits..
mr malik n qureshi..the reasoning u have to offer is just same but change the last words..say waive our debts instead of saying give us money..
additional benefit...corruption ll be checked..

 

[xenia]

yes yes, please do it
=========
Sayasi bayan hai bhai logo - zayada tawajjo naa do

kuch NGOs ne kafi khap daali to hui hay..baray phadday chal rahay hen g...bus FO tough stance lay le..

 

[PeacefulIndian]

instead of having a begging bowl, FO ll do a great job if it gets the loan waived..we can use that money to overcome budget deficits..
mr malik n qureshi..the reasoning u have to offer is just same but change the last words..say waive our debts instead of saying give us money..
additional benefit...corruption ll be checked..

That's absolutely a BS. Zardari is buying palaces, landlords are not paying taxes, your elite is not ready for tax reforms. Angelina Jolie, Hillary Clinton have spoken against the feudal tax system many times by now. So your solution is writing off the debt? Great attitude.

And does anyone get that borrowing money & not returning is equivalent to theft?

 

[Hulk]

I will support it if the money was used for right purpose. The problem is if you wave this debt then they will use the same money for more defense related purchase than something meanigful.

 

[Hyde]

kuch NGOs ne kafi khap daali to hui hay..baray phadday chal rahay hen g...bus FO tough stance lay le..

Pakistani NGOs ke kehne se kya hona hai xenia jee,

Baat to tab banti hai ke agar American public White House ke samne banner utha ke jalsay nikalay "Stronger Economy of Pakistan, The only solution to Global Peace"

Aur phir Americans is per koi notice lain
Pakistan FO jo marzi kar le, kuch bhi nahi hona in se

 

[xenia]

That's absolutely a BS. Zardari is buying palaces, landlords are not paying taxes, your elite is not ready for tax reforms. Angelina Jolie, Hillary Clinton have spoken against the feudal tax system many times by now. So your solution is writing off the debt? Great attitude.

And does anyone get that borrowing money & not returning is equivalent to theft?

i am saying instead of pouring in more money, waive off the debts..it ll teach a lesson to those in higher echelons of power..when they dont easy cash..rescheduling of some n waiver of others ll do a good job..
n no its not akin to theft, many countries have got their debt waived esp the ones hit by natural disasters..n if u dig into the past of this debt issue its a long debate..its a long standing demand of LDCs for more equivalent share of world resources..sa i said a different debate altogether..

 

[xenia]

Pakistani NGOs ke kehne se kya hona hai xenia jee,

Baat to tab banti hai ke agar American public White House ke samne banner utha ke jalsay nikalay "Stronger Economy of Pakistan, The only solution to Global Peace"

Aur phir Americans is per koi notice lain
Pakistan FO jo marzi kar le, kuch bhi nahi hona in se

resloution ae thi senate me ya punjab assembly me (dont remmebr exactly), a few days back..FO tough stance lay to it is possible..happened in musharrafs era a s well..obviously am not asking for a waiver of full $50 bn..but a combination of rescheduelling n waivers by some powerful "FODP"..

 

[desiman]

No I dont support it, such waivers make a country used to getting "Free Money". Pakistan should conserve and pay this loan back. Follow what India did in the 90's when we tightened out belts and worked hard for a decade to pay everything off. Pakistan should work on developing its economy and becoming stable in that aspect. Pakistan will makes its life even more tougher by asking for such waivers because then international banks will be more reluctant to loan anything to you. Dont take the easy way out, conserve, spend money in the right sectors and pay this back.

 

[xenia]

No I dont support it, such waivers make a country used to getting "Free Money". Pakistan should conserve and pay this loan back. Follow what India did in the 90's when we tightened out belts and worked hard for a decade to pay everything off. Pakistan should work on developing its economy and becoming stable in that aspect. Pakistan will makes its life even more tougher by asking for such waivers because then international banks will be more reluctant to loan anything to you. Dont take the easy way out, conserve, spend money in the right sectors and pay this back.

desiman plz come n monitor our economy..