Pakistan seeks waiver of $50 bn foreign debt

[indushek]

How is this going to help us? The corrupt leaders can't steal money since none will be given. And what about international image? I don't know if you've noticed or not, but every single Western views Pakistan as a backwards, terrorist loving radical Islamic Muslim nation.

Someone pointed out how India paid off her debts in the 90's, but the thing was, India wasn't fighting much of a war back than like Pakistan is now.

I accept my friend that problems of Pakistan are one too many. By saying that what i meant is that, when Pakistan has the burden of the huge debt to be paid the government, it will be forced to take measures to improve trade and finance right?? We can never discount corrupt politicians and self serving middlemen in countries like ours (this is the same case of India too) but they can't just go on eating money for eternity!!! they will out of interest in power (not nations interest as we both know) be forced to taking corrective measures. You could see the case with us, we went bankrupt unlike yours which is still going on at decent rate even under the circumstances.

Also India was lucky in having people who wanted to develop trade here i.e. businessmen in private sectors not the govt owned which has helped us. I am thinking that given the chance u too have such enterprising individuals.

The image thing is transient one , u see after world war II Japan and the other Axis powers were looked down upon particularly Germans. Look at them now. Though this is not an exact parable for ur case, once Pakistan can get out of these circumstances it will regain its rightful place under the sun. This is the reason i am saying that waiving off will only make u complacent and give the corrupt politicians reason to do some good work!!!

 

[deckingraj]

How is this going to help us? The corrupt leaders can't steal money since none will be given. And what about international image? I don't know if you've noticed or not, but every single Western views Pakistan as a backwards, terrorist loving radical Islamic Muslim nation.

Someone pointed out how India paid off her debts in the 90's, but the thing was, India wasn't fighting much of a war back than like Pakistan is now.

Remember money is power...the same land that was laughed upon by terming as land of cows and snake charmers is giving west some run for its money...Same is true for China....Look India's have huge set of problems and reaching where we are today was by no means an easy job....May be you won't believe but animosity with India is not letting you guys concentrate on the great potentials you have....As far as India's problems during 90's the let me highlight some of the those problems

- We were on the verge of bankruptcy
- Kashmir was burning and eating lot of national resources
- Same was true for Punjab
- China was registering double digits growth and our relations with them were not as good as compared to these days
- Last but not the least, our long term partner USSR broke. At that time almost entire defense was dependent on them...

Now please consider all this and tell do you see there was any dearth of problems that Indians were facing??? Now question would be what helped us??? I believe this should be the question that pakistani should be asking them.... If India, China can do it i don't see a reason Pakistan cannot do it...Just to give you a hint - Even though China was stronger than India and had border issues with us yet they did not bother to up the ante....Had Pakistan been in that situation do you have any doubt they would have attacked India??? I believe this is where lies the difference....

 

[JonAsad]

Pakistan's foriegn debt should not be cleared nor we should seek it, instead we should seek to remove corruption and dirty dollars hungry politicians, change the systm or we would again be in another billion dollars debt in the next decade.

Do we deserve a waiver- No

 

[HAIDER]

Solution is very simple,,,if Feudal start paying tax, Pakistan don't need any help.Every year 300 billion rupees of unpaid taxes ...or you call it " tax chori".
Its so funny , Gilani begging for help and he is the one who is not paying tax..Mr Nawaz paid 5000 rupee tax. Zaradari few thousands.

 

[syntax_error]

Simple question...
all the Pakistani members in this thread ... just ask yourself...do you and ur family and relatives pay taxes according to what you earn or do u hide the amount and evade ... do you all pay all your taxes... if you can answer this you will also know whether this load waiver will help Pakistan or not.

 

[muse]

And people in hell want ice water.



Unfortunately the PPP government is more adept at playing the fool than it is at sobriety. One can imagine the argument that fighting insurgencies is costing too much and that Pakistan should consider giving up the struggle.

Always with populist and socialists of Pakistan, it's always, always, not growing the pie but distributing it to their favorites.

 

[JackTR]

It's about leadership man. Just look at it.. Country is run by Mr Zardari
he has least respect among in'l leaders :|
Pakistan has all capabilities like any other country to feed its own people, without havin debts.

Making democrary stronger, electing respected educated leaders will improve things in long run.

i bet, here, some Pakistani members are way more intelligent than Zardari and some of nations policy makers are.
Country hasn't been run by its most able citizens.

(@tp)

 

[MST]

Not going to happen. Can't see any motivations among people who matter (Zardari, Pakistan Military and Americans). As long as the Loans and Cash dole outs are flowing war on terror will continue and Americans know that.

Loan waver is only going to help the common people of Pakistan who sadly don't matter in this game.

Also India is going to make big noise about this esp. in World Bank and IMF where we have some say. Damn we made so much of hue and cry for $2 billion given by US government. Think what will happen when $50 billion waver from IMF and World Bank.

On a side note aren't we the country with most poor people in the world (some say 80% below poverty line ). So India should get a loan waver first before Pakistan gets any of it

 

[Infinite Sapience]

Only bilateral loans can be waived by individual countries for waving/deferment of IMF/WB loans a general vote has to be called of all member countries.

With any loan waiver requiring 2/3 rd votes in its favour.

As of now US hold maximum 17%/18% votes in IMF/ WB hence giving it near veto power on any decision.

Last Pakistani loans were rescheduled, back in 2002, when it joined US WOT.
I have gut feeling this time too Pakistan will have something special to get its loans waived.

So question is does Pakistan's political class, have enough cojones to do that "something special", because last time it was dictatorial govt and the decision to join WOT was quick and decisive.

 

[rubyjackass]

The request for waiver was a personal request from Rahman Malik. I thought his comments messed up just his own department. Now he is after the other parts of government too.:rofll:

 

[muse]

It would be interesting to see where the Mullah types come down on this issue - How Muslim is to not pay what you owe??

By the way, is it that people misunderstand the term "credit"?? It really means "Ehtehbar" or "Trust"

 

[rubyjackass]

Here you go...
DAWN.COM | Pakistan | Hafeez disowns call for debt write-off

 

[Abu Zolfiqar]

It's about leadership man. Just look at it.. Country is run by Mr Zardari
he has least respect among in'l leaders :|
Pakistan has all capabilities like any other country to feed its own people, without havin debts.

Making democrary stronger, electing respected educated leaders will improve things in long run.

i bet, here, some Pakistani members are way more intelligent than Zardari and some of nations policy makers are.
Country hasn't been run by its most able citizens.

(@tp)

Oh I can't think of anyone in this forum, regardless of nationality, arguing with your post there!!

through an effective leadership will come a lot of welcome change.....through effective change, a lot of overseas Pakistanis who are succesful (many of them are existing) will return to the motherland and contribute their knowledge and other acquired capital

a lot of people inside and outside see the current administration as a rotten one -- one in dire need of accountability and massive reforms

these are attributes of a true democracy

 

[muse]

I think their dime just dropped - I mean what would happen to their own assets and accounts

 

[true_indian]

My 2 cents.. If Pakistan even asks the international community to waive off its debt..it can say goodbye to investment for its near future.. If does get the waiver, there'll be no investment for a decade or 2 least..