A professor was once lecturing his class on the hazards of alcohol. In a glass jar containing a small fish he poured in some whiskey. The fish struggled and died. See this is exactly what I am trying to explain remarked the professor. So what is that you have learned, he asked of his pupil? A few of them replied that the fish and alcohol did not get along well.
In quite a similar manner, citizens of Pakistan are at a loss to comprehend what their future holds, while our Finance Minister Mr. Ishaq Dar is making the merry go round with IMF and other lender agencies, while making monies / building empires for himself and for those who have installed him, as the state edges towards a black hole, wherein it would be pulled and disappear if such situations continue.
The following figures will explain the rapid rise of our total debts and liabilities, as reported by the State Bank of Pakistan, more so ever since this cancerous blood sucking democracy has held us, the people of Pakistan hostage.
During General Pervez Musharaf Government = 4,000 Billion Rupees.
During Pakistan Peoples’ Party Government = 12,000 Billion Rupees.
During Pakistan Muslim League Nawaz Government = 20,000 Billion Rupees.
Since majority of revenues collected are tendered towards debt servicing, state run corporations do not have enough funds even for payment of salaries and emoluments. This is one major argument extended for the proposed privatization of strategic state assets like PIA and Pakistan Steel Mills etc.
Loans; are being taken because there is a striking disparity between income and expenditure. This gap will keep increasing till revenue collection and generation methods are not revamped. Tax collection right now is based on adding new taxes on the same old payers which includes the salaried class and the filers. A more prudent approach is to widen the tax net and put in efforts to bring in new and more tax payers. Link of a relevant presentation posted on word press is appended below for ready reference:
http://ift.tt/1PBSENm
Privatizations; state run corporations and organizations are in a nose dive direction because they have not been run as business entities. Following reasons will explain why:
Political interference; appointments have been made on will and wish and all other considerations but never on merit.
Over staffing; different political parties and leaders have been injecting thousands of their loyalists in these organizations and corporations for continuance of political support and loyalty.
Repair & maintenance; frequent break downs due to lack of, or no repairs and maintenance have been a major reason for the continuous setbacks.
Corruption; since appointments are never on merit the criteria for continuity of job depends on how well one is able to make big money and deliver the same to mentors.
Accountability; in Pakistan even the corrupt of the corrupt have never been subjected to true accountability. If one is questioned the next day one gets a protective bail or an interim injunction from a competent court, which again cannot be a subject of blatant criticism because political and personal vendetta and victimization have been a prevalent norm.
Truth: certain organizations and corporations are deliberately being ignored so that deterioration becomes an acceptable cogent reason for privatization. Bids will be invited and offers will be made by foreign based self owned back door companies. As the process of bidding, its acceptance and approval is in the hands of the rulers and to be prospective buyers, the assets will get sold at throw away prices. Since foreign investment will be involved, the state will be bound to protect it. The same companies will be turned around in a matter of no time and become massive profit making giants. Two most relevant examples are that of PTCL and K - Electric.
How do we get out of this situation? We cannot. Elections are not fair and free. Those who come into power do not come through legitimate means. They are not pushed about the peoples’ welfare or sentiments. Martial law is un-viable. It is not accepted well or welcomed by the western world and the comity of civilized nations. Politicians very well understand this phenomenon and continue to make hay while it shines. This is exactly why the corrupt want this sham democracy to continue because it suits them, while people like Imran Khan refer to it as status quo. What bigger proof would one need when politicians who rule us spend more time and have more assets abroad than in Pakistan. A glaring example also is of the fact that every state owned organization is in huge losses while every company owned by our rulers is money making machine. Economic terrorism as a result goes on unabated. Unfortunately the rich get richer and the poor get poorer and the noose around necks of the general public continues to get tightened with every passing day.
Loans & Privatizations.
A professor was once lecturing his class on the hazards of alcohol. In a glass jar containing a small fish he poured in some whiskey. The fish struggled and died. See this is exactly what I am trying to explain remarked the professor. So what is that you have learned, he asked of his pupil? A few of them replied that the fish and alcohol did not get along well.
In quite a similar manner, citizens of Pakistan are at a loss to comprehend what their future holds, while our Finance Minister Mr. Ishaq Dar is making the merry go round with IMF and other lender agencies, while making monies / building empires for himself and for those who have installed him, as the state edges towards a black hole, wherein it would be pulled and disappear if such situations continue.
The following figures will explain the rapid rise of our total debts and liabilities, as reported by the State Bank of Pakistan, more so ever since this cancerous blood sucking democracy has held us, the people of Pakistan hostage.
During General Pervez Musharaf Government = 4,000 Billion Rupees.
During Pakistan Peoples’ Party Government = 12,000 Billion Rupees.
During Pakistan Muslim League Nawaz Government = 20,000 Billion Rupees.
Since majority of revenues collected are tendered towards debt servicing, state run corporations do not have enough funds even for payment of salaries and emoluments. This is one major argument extended for the proposed privatization of strategic state assets like PIA and Pakistan Steel Mills etc.
Loans; are being taken because there is a striking disparity between income and expenditure. This gap will keep increasing till revenue collection and generation methods are not revamped. Tax collection right now is based on adding new taxes on the same old payers which includes the salaried class and the filers. A more prudent approach is to widen the tax net and put in efforts to bring in new and more tax payers. Link of a relevant presentation posted on word press is appended below for ready reference:
http://ift.tt/1PBSENm
Privatizations; state run corporations and organizations are in a nose dive direction because they have not been run as business entities. Following reasons will explain why:
Political interference; appointments have been made on will and wish and all other considerations but never on merit.
Over staffing; different political parties and leaders have been injecting thousands of their loyalists in these organizations and corporations for continuance of political support and loyalty.
Repair & maintenance; frequent break downs due to lack of, or no repairs and maintenance have been a major reason for the continuous setbacks.
Corruption; since appointments are never on merit the criteria for continuity of job depends on how well one is able to make big money and deliver the same to mentors.
Accountability; in Pakistan even the corrupt of the corrupt have never been subjected to true accountability. If one is questioned the next day one gets a protective bail or an interim injunction from a competent court, which again cannot be a subject of blatant criticism because political and personal vendetta and victimization have been a prevalent norm.
Truth: certain organizations and corporations are deliberately being ignored so that deterioration becomes an acceptable cogent reason for privatization. Bids will be invited and offers will be made by foreign based self owned back door companies. As the process of bidding, its acceptance and approval is in the hands of the rulers and to be prospective buyers, the assets will get sold at throw away prices. Since foreign investment will be involved, the state will be bound to protect it. The same companies will be turned around in a matter of no time and become massive profit making giants. Two most relevant examples are that of PTCL and K - Electric.
How do we get out of this situation? We cannot. Elections are not fair and free. Those who come into power do not come through legitimate means. They are not pushed about the peoples’ welfare or sentiments. Martial law is un-viable. It is not accepted well or welcomed by the western world and the comity of civilized nations. Politicians very well understand this phenomenon and continue to make hay while it shines. This is exactly why the corrupt want this sham democracy to continue because it suits them, while people like Imran Khan refer to it as status quo. What bigger proof would one need when politicians who rule us spend more time and have more assets abroad than in Pakistan. A glaring example also is of the fact that every state owned organization is in huge losses while every company owned by our rulers is money making machine. Economic terrorism as a result goes on unabated. Unfortunately the rich get richer and the poor get poorer and the noose around necks of the general public continues to get tightened with every passing day.
by webmaster@insaf.pk (tkiadmin)
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