Thanks to "Democracy, Pakistan's foreign debt to reach 100 Billion USD

[El Sidd]

i don't see any hope.there is actually no hope.

Oh noooooooo

Shall i press the button?

 

[jetray]

honestly 100 billion of debt itself is not a worrysome figure really, problem is economy which is not performing well to service these loans

yup debt is not an issue, but whether you can service it or not is the issue. If the country's economy is growing it is normal to take loans to boost growth in a developing country.

 

[PakSword]

It is about Democracy. It is a failure. All votes are not equal.

In order to win in a democracy you have to be the one to promise the most free stuff at the public expense. And then when you get into power loot the country until everyone realises you are a fraud and vote you out of office, then you take all of that money you looted and relocate abroad until the guy who replaced you in office loots his share, then you return to run for re-ellection and the public has already forgotten the last time when you looted the country and yet again vote you into office because you promise lots of free stuff.

This is the democracy people love to worship @Psychic @Reichsmarschall @PakSword

i don't see any hope.there is actually no hope.

To be honest, I am counting on the next GEs.

We have seen PMLN and we have seen PPP governments, we have yet to see the performance of PTI government.

They had power in one province, that too limited. In that limited power, they have done a very good job. We haven't seen corruption scandals etc..

According to UN, approx. 10 billion US dollars are illegally remitted from Pakistan every year. An honest government can put a cork on this leakage. This is one area where we can massively improve our balance of payments.

The second area is corruption itself. So an honest government will entertain competitive bids only for development projects and imported goods. One example is LNG, where we are facing approximately 1 billion dollars annual loss. There are many more projects which, if awarded to the right organizations at competitive price, will save us a lot of money which can again be invested in redeveloping the national institutions, such as PIA and Steel Mills. Here I can sense that we can at least save 3-4 billion dollars annually, not just because of saving, but because of quality of projects. A highway that is built with quality materials lasts at least three times the number of years..

Thirdly, we have huge huge huge resources in Baluchistan. Foreign powers are therefore after this province and funding separatists because they know, any honest government can get earn massive foreign exchange from these.. One example is Reko Diq. I have audited that area.. it has enormous reserves of gold, graphite, etc.. Only gold reserves can reach 300 billion US dollars.. but we can only get part of the money.. Even if we get 75% of the money from extraction, it will be enough..

But it all depends on honest government.. That's why I have said many times on this forum that I will decide about my future after 2018, whether to invest in Pakistan or take out all my investments and move abroad for ever.

I am giving democracy a last chance..

 

[Shane]

To be honest, I am counting on the next GEs.

We have seen PMLN and we have seen PPP governments, we have yet to see the performance of PTI government.

They had power in one province, that too limited. In that limited power, they have done a very good job. We haven't seen corruption scandals etc..

According to UN, approx. 10 billion US dollars are illegally remitted from Pakistan every year. An honest government can put a cork on this leakage. This is one area where we can massively improve our balance of payments.

The second area is corruption itself. So an honest government will entertain competitive bids only for development projects and imported goods. One example is LNG, where we are facing approximately 1 billion dollars annual loss. There are many more projects which, if awarded to the right organizations at competitive price, will save us a lot of money which can again be invested in redeveloping the national institutions, such as PIA and Steel Mills. Here I can sense that we can at least save 3-4 billion dollars annually, not just because of saving, but because of quality of projects. A highway that is built with quality materials lasts at least three times the number of years..

Thirdly, we have huge huge huge resources in Baluchistan. Foreign powers are therefore after this province and funding separatists because they know, any honest government can get earn massive foreign exchange from these.. One example is Reko Diq. I have audited that area.. it has enormous reserves of gold, graphite, etc.. Only gold reserves can reach 300 billion US dollars.. but we can only get part of the money.. Even if we get 75% of the money from extraction, it will be enough..

But it all depends on honest government.. That's why I have said many times on this forum that I will decide about my future after 2018, whether to invest in Pakistan or take out all my investments and move abroad for ever.

I am giving democracy a last chance..

You are absolutely on the mark about the potential and resources of Pakistan. I do understand your pov about leaving Pakistan and the pain that the thought carries too...

Giving Last chance is a very personal decision and everyone is entitled to their own. But there is life after 2018 elections too even if Maryam somehow manages to overcome her odds or Shahbaz manages another cunning comeback.

Sometimes I am amazed at the persistence and temperament of IK. I couldn't even imagine his disappointment after 2013 elections when he was literally robbed off of a dozen or so seats at the ascendancy of his popularity. Imagine if PTI was in charge of the seat of opposition leader for the last 5 years...the impact on constitutional appointments alone must had been astronomical e.g. NAB chairman, ECP etc.

There are those who may never leave Pakistan for moving to another economically or socially better country.
I have thought about it too and decided that I will remain here (unless get a chance to live near Harmain Sharifain for obvious reasons) and resist in which ever way possible. If not just AMAR BIL MAROF - then - WA NAHE ANIL MUNKIR has many undiscovered or never tested avenues yet in Pakistan...

Look at it this way, our parents, like their parents before them faced similar political turmoil by repeated martial laws and even half of the country getting chopped off, yet they remained here and weathered all those calamities that had befallen Pakistan. At least we are part of a sizeable resistance or opposition to the corrupt oppressors sucking the life blood of our nation.

Just imagine how It must have been all loom and gloom, imagine half of the country getting chopped off, yet Pakistan managed to march on.

I know there are question marks on the aftermath of next elections so all I have is patriotic bhashan to sell you along the lines of paywasta reh shajar say and what not.

Realistically you are spot on about 2018 elections, this may be the last chance to change the downward slide of Pakistan without bloodshed.

Bottom line is clear, I feel your pain and respect your decision and present you with a pov that you may already know and the very same might have stopped you until now too but still I shared it anyway, having exchanged ideas with you so many times.

 

[wiseone2]

It was 11 Billion USD at the end of General Zia era in 1988 (23 Billion Dollars in today's money after compensating for inflation)

30 Billion Dollars in 2008 at the end of Musharraf era (34 Billion in Today's money after compensating for inflation).

34 Billion USD at the end of Zardari era in 2013. However the country saw the highest price rise in history during Zardari regime as the prices of basic necessities shot up five folds during those 5 years.

From 2013 to now 2018 the country has taken the largest sums of foreign debts in it's history. Nawaz era has seen Pakistan's foreign debts rise another 60 Billion USD to a total of 90 Billion USd and rising to reach 100 Billion USD.

it should be easy to post the statistics where the increase happened - to whom the money is owed

To be honest, I am counting on the next GEs.

According to UN, approx. 10 billion US dollars are illegally remitted from Pakistan every year. An honest government can put a cork on this leakage. This is one area where we can massively improve our balance of payments.

A pakistani friend of mine sold his properties in Pakistan because his parents died. he took his money out abroad
you are not going to stop this.

To be honest, I am counting on the next GEs.
Thirdly, we have huge huge huge resources in Baluchistan. Foreign powers are therefore after this province and funding separatists because they know, any honest government can get earn massive foreign exchange from these.. One example is Reko Diq. I have audited that area.. it has enormous reserves of gold, graphite, etc.. Only gold reserves can reach 300 billion US dollars.. but we can only get part of the money.. Even if we get 75% of the money from extraction, it will be enough..

Has any densely populated third world country improved standard of living selling minerals ??

 

[HAIDER]

Its not about democracy its about lack of leadership

Unfortunately we have no criteria of selection . We have army of fake technocrats. Elected leadership is so jahil they burn all there energy to make money and transfer to foreign land before the end of 5 years. Imagine the education of Nawaz, Zardari etc.... do they really deserve to become PM of Pakistan or there cronies in senate or NA ? .... Only way Pakistan can prosperous if all foreign countries put total block on transfer of funds and all type of illegal fund control and connect all these act with Act of Terrorism.

it should be easy to post the statistics where the increase happened - to whom the money is owed



A pakistani friend of mine sold his properties in Pakistan because his parents died. he took his money out abroad
you are not going to stop this.



Has any densely populated third world country improved standard of living selling minerals ??

This is legit transfer , here the issue is illegal transfer . Cash flow from through all illegal means . Black money , money from illegal source. Blanket / fake corporations in Virgin Island etc etc .

 

[wiseone2]

This is legit transfer , here the issue is illegal transfer . Cash flow from through all illegal means . Black money , money from illegal source. Blanket / fake corporations in Virgin Island etc etc .

What do you think wealthy Pakistanis who settle abroad going to do ? They will sell properties and transfer the money abroad. I do not think the money transfers are legal. Even India has a cumbersome process of taking money out of the country.

 

[HAIDER]

What do you think wealthy Pakistanis who settle abroad going to do ? They will sell properties and transfer the money abroad. I do not think the money transfers are legal. Even India has a cumbersome process of taking money out of the country.

Well, there should be a law. Which i don' t know.

 

[wiseone2]

Well, there should be a law. Which i don' t know.

the big problem is that India does not make it easy to transfer money. in fact they criminalize a lot of these transfers. the logic is that they do not have the FOREX to support the outflows. i would assume pakistan is in the same boat. making laws to criminalize routine actions serves no purpose in real life. they are excellent talking points for the media.

 

[EpiiC]

India owes how much?

69% of its GDP.
Pays 25% of its national revenue towards debt service.
Owes 500 billion to IMF/WB/ADB
155 billion trade imbalance in the last 12 months...(importing more than exporting)
3.5 % of current account deficit.

This is under Modi, the Ayatollah of Bharat mata.

Indias Economy is growing very fast.... There economy is better than Pakistans and also Bangladesh have overtake Pakistan GDP Nominal.