Step 1: Start the Witch Hunt

Bad Mouth the previous Financial Managers to initiate the loss of investor confidence

Step 2: Find the worst rates possible for debt financing

Run to IMF & WB ... Get the worst rates and terms possible, because you can't tell your head from your ass when it comes to economics

Step 3: Handover economic control to IMF/WB

Now WB & IMF dictate the economic policies of Pakistan, priority becomes servicing the debt and not the people, for whom the debt was taken in the first place

1. Stop spending on education because IMF/WB tell's you
2. Stop spending on development projects because IMF/WB tell's you
3. Reallocate funds from development projects to debt servicing, perhaps interest only because IMF/WB tell's you
4. Stop subsidising basic nessescity items because IMF/WB tell's you
5. Stop subsedising Fuel prices because IMF/WB tell's you
6. Apply the CGT because IMF/WB tells you

Step 4: Feast on crop of Step 1 to Step 3

As Pakistan is forced to stop subsidising fuel, the immidiate price hike (around september, as mentioned by Naveed Qureshi) will be Rs. 30 per liter bringing the total cost to just south of Rs. 100 per Liter

However, as of today Crude Oil options are selling for Over $250/barrel, which means that Pakistanis, if left without subsidies will be paying in excess of Rs. 200 per liter by early next year. And thats a conservative estimate because I haven't counted for Rupee's fall against the dollar after Musharaf Goes home and these political thugs struggle to handle the country & stability, expect Nawaz to be on Zardari's thoart the moment Musharaf is gone

Step 5: Ensure Epic inflation to get -ve GDP growth rate

Without increase in the purchasing power of the masses, Rs. 200/liter fuel will stop the wheels of progress or even a positive GDP growth rate, since the production houses will suffer the wrath of the epic inflation due to collosal fuel prices

Step 7: Bring in a budget who's final draft is approved by IMF/WB

And send the masses to a gutter line from which they can never be retrived.

Instant : You made my day .. Now at least I can laugh myself to death !!! Dead Sad.

Instant you're going to have to cite your post, otherwise Ishaq Dar might sue for plagiarism.

Bloody great bro!

Its not funny. 9 years of work, of painful decisions, of sacrifices and development. All vanished. It'll take 40 years to comeback.

loved it ... this should be on the front page of newspapers in Pakistan

Make the post sticky...

One from me aswell

F*CK THE MOTHERF**KING ISHAQ DAR

Nice post!... Sometimes i believe, us Pakistanis, are our own worst enemies!

With a neighbor like China we should be doing better than we r now... Have more trade agreements with china... Thats where our future is...

Nice post!... Sometimes i believe, us Pakistanis, are our own worst enemies!

Clutch I always say this for ourselves : "Friends like these, who needs enemies".

Brother instantexcess ... great post and truthful summary of ‘Some sinful steps Pakistani corrupt politician are following and leading Pakistan toward disaster again’.

We all know that Pakistan is not a rich and prosperous country but we saw a glimpse of hope and sign of fast development during last few years. Now to see dark clouds again and curse of thugs back on seat of power is really disappointing.

Well said.

Pakistan economic growth slowest in 5 years, central bank says
International Herald Tribune, France - 31 May 2008Link

ISLAMABAD, Pakistan: Pakistan's economy will expand by less than 6 percent for the first time in five years amid double-digit inflation and ballooning budget and trade deficits, the central bank said Saturday.

Economic problems are adding to the pressure on Pakistan's new civilian government as it struggles for power with President Pervez Musharraf and tries to tackle Islamic extremism.

In a quarterly report released Saturday, the State Bank of Pakistan said the economy was showing "increasing signs of stress" as a result of both homegrown and international factors.

A disappointing wheat harvest will likely hold back the key agriculture sector, while chronic energy shortages — both households and businesses face regular power cuts — have hampered industries including steel and textiles, it said.

As a result, the central bank expects economic growth will come in between 5.5 percent and 6 percent in fiscal 2008, which ends June 30, down from 7 percent the previous year.

Pakistan is struggling to deal with the rise in prices of international commodities such as crude oil and foodstuffs.

The central bank forecast that inflation would reach between 11 percent and 12 percent this year, up from 7.8 percent in fiscal 2007. Inflation reached an annualized 17.2 percent in April — the highest level in 13 years.

Prices are rising fast partly because the government is reducing costly subsidies on fuel and foodstuffs.

The subsidies have contributed to the government's rising budget deficit, which the central bank said would reach 6.5 percent to 7 percent. The deficit was just 4.3 percent in fiscal 2007.

The government is expected to present a budget in Parliament next month including unpopular tax hikes and spending cuts.

With imports rising faster than exports, the central bank said Pakistan's current account deficit will rise between 7.3 percent and 7.8 percent — a record high.




Economic growth to hit five-year low
By By Saad Hasan Link
6/1/2008

KARACHI: Pakistan’s economic growth will slow down to a five-year low in the outgoing fiscal year, dragged down by a poor wheat harvest and slump in manufacturing output, the State Bank of Pakistan (SBP) has forecast.

Real GDP growth in fiscal 2007-08 has been estimated lower between 5.5 and 6 per cent against the budgeted target of 7.2 per cent while an all-time high current account deficit of 7.3-7.8 per cent is projected in the quarterly report for January-March period released on Saturday.

Food inflation, which leaves a disproportionately high impact on poor, has remained in double digits during the third quarter and future outlook is dismal in view of the increase in food transportation cost after upward revision in fuel prices.

“There is a need to take necessary administrative measures to protect low-income households by providing targeted subsidy to them through ration cards, utility stores or through students of public schools,” the central bank said.

Full year fiscal deficit at a high of 6.5 - 7 percent threatens to further fuel inflation if government did not divert its borrowing sources away from central bank, SBP has again cautioned.

Though exports grew by 10.2 percent during July-April 2007-08, country’s trade deficit has swelled to record $16.8 billion due to huge import bill.

Most of the export growth came during the third quarter on back of non-textile products as Pakistani rice and sugar fetched higher values from international markets.

Massive imports led by high petroleum product cost nullified export growth and further strained the current account. The financial and current account surplus also declined during nine months as foreign portfolio investment plunged to $118 million from $1.76 billion in corresponding period of previous year.

Unlike slow performing agriculture and large scale manufacturing sectors, services sector is poised to achieve the annual targeted growth, SBP says. “The main contributors to this performance are wholesale and retail trade, transport and storage and communication as well as public administration and defence sub-sectors.”

About improvement in agricultural output, the bank has proposed that government ensures a farmer get benefits of increase in food prices. Moreover, there is need for enhancing investment in agriculture-sector infrastructure like farm-to-market roads, it added.

The manufacturing sector suffered at hands of a severe energy crises and political unrest, which gripped the country after assassination of former Prime Minister Benazir Bhutto.

SBP says that conduct of monetary policy has become challenging as inflationary pressures fed by unprecedented hike in global food and energy prices persist and government continues to rely on it for meeting the budgetary deficit.

Maintaining a tight monetary policy is imperative to control the expected continuation of high inflation, it suggested and called for government’s support in shape of fiscal prudence.

Nevertheless, credit demand is strong despite a slowdown in growth to consumers mainly because of rise in working capital requirements due to higher input costs and payments to oil companies and IPPs under the head of price differential claims.

Seven food items contribute 47.1pc to inflation: SBP report
By By Faryal Najeeb Link
1/6/2008

KARACHI: The State Bank of Pakistan’s third quarterly report highlights that only seven food items with a total weight of 19.9 per cent in the CPI basket contributed 47.1 per cent to the overall inflation during April 2008.

While the prices of most of the food items are rising, three items contributed 56.1 per cent to the food inflation during April 2008. Wheat contributed 15.8 per cent to the food inflation, vegetable ghee 10.5 per cent whereas, fresh milk 8.7 per cent.

The CPI (Consumer Price Index) food inflation was 25.5 per cent during April 2008, as compared to 9.4 per cent in the corresponding month last year. The quarterly report notes that trends of food inflation are similar in both CPI and WPI.

At the same time, it is important to note that non-food inflation is also likely to reach close to double-digit levels by the end of the current fiscal year. CPI non-food inflation rose to 11.2 percent in April 2008 compared with 5.2 per cent in the same month last year.

The recent increase in nonfood inflation is mainly attributed to the jump in inflation in house rent index (HRI) and cleaning, laundry and personal appearance sub-groups during April 2008.

The rise in HRI is principally owed to increasing international metal prices and the continued uptrend in the domestic wages of construction workers. Moreover, a trend reversal in sub-groups of transport & communication, as well as, fuel and lighting also put upward pressures on nonfood inflation.

Income group-wise Inflation: The contribution of food inflation in the overall CPI remained high in the first nine months of FY08. This resulted in a larger incidence of inflation for the low income groups, where food staples typically account for a greater proportion of total expenditure.

Wholesale Price Index (WPI): Inflation measured by WPI recorded 23.5 per cent growth during April 2008, which is significantly higher than the 6.0 per cent recorded in April 2007.

WPI food inflation reached 24.6 per cent in April 2008 compared with 8.4 per cent in the same month last year. WPI non-food inflation also rose to 22.7 per cent in April 2008 compared to a subdued 4.3 per cent during the same month last year.

Sensitive Price Indicator (SPI): Weekly inflation measured by SPI also increased considerably from 7.7 per cent in the last week of FY07 to 25.4 per cent in the first week of May 2008.

The report states that there is a need to take necessary administrative measures to protect low-income households by providing targeted subsidy to them through ration cards, utility stores or through students of public schools.

Providing subsidy is, however, a short-term measure therefore in the long-term, investment in the agriculture sector to raise productivity is essential. This may be done by providing certified seeds, access to institutional credit, subsidy on fertiliser, reducing wastages, water reservoirs and investment in value addition chains.

If inflationary pressures are, principally driven by rising food prices, a tight monetary posture may help contain second-round effects of high food inflation on CPI non-food inflation.

However, heavy government borrowing from SBP undermines its efforts to mitigate second-round effects of sustained high food inflation, which further fueled the inflationary pressures. As a result of large fiscal deficit, money growth remained well above the desired level and more than required growth in liquidity complicates monetary management.

The muted impact of monetary policy is also evident in the rising core inflation throughout the FY08. Core inflation, measured by 20 per cent trimmed mean, accelerated to double digits (14.1 per cent -historic high level) in April 2008.

Given the present inflationary pressures in the economy, SBP forecasts were revised upward with CPI inflation likely to fall between 10 to 11 per cent during FY08, significantly higher than the 6.5 per cent target for the year.

Pakistani Power Struggle Bogs Down Economy, Stocks
Bloomberg - 30 May 2008 Link

Pakistan's three-way power struggle between President Pervez Musharraf and the largest political parties has slowed the response to food shortages and spiraling inflation, triggering the biggest stock plunge in eight years.

``Musharraf has to go,'' Farhatullah Babar, spokesman for the Pakistan Peoples Party, the main group in the coalition government, said in a phone interview today. ``It is his choice whether he wants to go in a dignified manner, or wishes to be impeached.''

Musharraf denied a report he would resign in a television appearance last night, blaming the speculation on ``a malicious campaign to create uncertainty.'' The dispute threatens to hamper efforts to combat terrorism and improve living standards for the nation's 163 million people, half of whom can no longer afford sufficient food, according to the United Nations.

``If this remains unaddressed, it could lead to real instability in coming months,'' said Talat Masood, a retired general who works as an independent consultant in Islamabad.

The Bush administration has called Musharraf its key ally in the battle against Pakistan-based militants of al-Qaeda and the Taliban. The U.S. has encouraged Pakistan's main parties, led by former Prime Minister Nawaz Sharif, ousted in a 1999 coup by Musharraf, and Asif Ali Zardari, to keep him in office even after their victory in parliamentary elections in February.

Rudderless Government

Pakistan's key stock index has tumbled 23 percent this month, the biggest decline among 89 global benchmarks tracked by Bloomberg. Brokerage officials flew to Islamabad this week to urge the coalition to take action to restore confidence and about 100 investors and brokers gathered outside the Karachi Stock Exchange yesterday, shouting anti-government slogans.

The sense of rudderless government has put the Karachi Stock Exchange 100 index on course for its biggest monthly decline since May 2000. The central bank stepped in on May 23, raising its benchmark interest rate to tame inflation at a 25- year high.

``There is the perception that nobody is actually in command to address the real issues and take the country forward,'' said Habib-ur-Rehman, chief executive of Atlas Asset Management Co. in Karachi.

The equity benchmark dropped as much as 2.6 percent to a nine-month low this morning before recovering. The index gained 1.4 percent to 12,401.53 at 2:45 p.m. as some investors judged the recent decline as excessive and brokers ended their protest outside the exchange.

Economy Blossomed

Pakistan's economy has blossomed during Musharraf's years in office, reaching an average annual growth rate of 7.5 percent over the past four years. Foreign investment reached a record $8.4 billion in the year ended June 30.

The government predicts growth will slow to 6 percent this fiscal year, after 14 months of political turmoil since Musharraf's attempt to sideline the chief justice in March 2007.

International rating companies -- Standard and Poor's and Moody's Investors Service -- downgraded Pakistan's government bonds for the first time in nine years. ``Investors' confidence has declined and capital flight has started,'' said Rehman, who manages the equivalent of $80 million in stocks and bonds.

Musharraf resigned in November from his most powerful post, commanding general of the army. His chosen successor, Ashfaq Parvez Kayani, has pulled the army back from politics, withdrawing officers from civilian government posts and ordering them to avoid involvement with politicians.

Speculation that Musharraf would resign arose yesterday after an English-language daily, the News, suggested that Kayani had pushed Musharraf to quit during a meeting the previous night. Musharraf denied yesterday that any divisions had arisen between himself and Kayani.

Clinging On

Musharraf's attempts to cling on to power were bolstered this month when the governing coalition started to unravel because of a dispute over judges. The president had sacked the justices last November because they were preparing legal challenges to his tenure.

Zardari's Pakistan Peoples Party last week proposed a constitutional amendment to strip Musharraf's most important remaining powers, the ability to dissolve parliament and appoint military service chiefs.

Support from Sharif's Pakistan Muslim League would ensure the two-thirds majority required to pass the amendment in the National Assembly. The debate would then move to the Senate where he'd need defections among Musharraf loyalists to make it law.

Term Limits

The Muslim League, which withdrew its cabinet ministers on March 13 because of the judicial dispute, will meet today to discuss Zardari's proposals. A key sticking point may be conditions that would weaken the restored judges, including a term limit for the chief justice.

Zardari, whose wife Benazir Bhutto was assassinated in December, spent eight years in prison under Sharif and Musharraf on what he says were politically motivated corruption charges. Musharraf canceled further prosecution against Zardari last year as part of negotiations that persuaded the then PPP leader Bhutto to return to Pakistan where she was killed after an election rally.

Sharif opposes restrictions on restored judges because his party won votes in February by promising unconditional reinstatement. The party feels it will lose support in future elections if it backs away now, said Muhammad Mehdi, a Muslim League coordinator on foreign affairs.

The two parties seem closer to agreement on the president's future. Zardari last week joined Sharif's call for Musharraf to step down, calling him ``a relic of the past.''

``If he resigns voluntarily, it is good for everyone,'' said Babar of the Peoples Party. Otherwise, ``he will be kicked out.''

-- Editors: Bill Austin, Stephen Foxwell

To contact the reporter on this story: James Rupert in Islamabad at jrupert3@bloomberg.net.

Last Updated: May 30, 2008 05:58 EDT



Pakistan stock index falls to 14-month low amid Musharraf resignation rumors, economic woes
The Associated PressPublished:
May 31, 2008Link

KARACHI, Pakistan: Pakistani stocks have fallen to their lowest level in almost 14 months as swirling talk that President Pervez Musharraf will resign adds to concern about the country's economy.

Thursday morning, the Karachi Stock Exchange's 100-share index fell 4.2 percent to 11,742.83. The index hasn't touched that level since early April, 2007.

The plunge followed a report in a Pakistani newspaper — quickly denied by Musharraf's spokesman — that the president has decided to quit.

Atif Malik, head of research at JA Global Securities, said, "The political uncertainty and the media assertions about the President's resignation gave investors the jitters."

The benchmark index has lost about 25 percent from a record high in April.

Pakistan asked to manage its financial affairs
Khaleej Times, United Arab EmiratesLink
1 June 2008

ISLAMABAD — World Bank has advised Pakistan to manage its financial affairs to avoid more problems for the citizens particularly in the wake of rising international oil and food prices.

Vice-President Praful Patel after spending five days in Pakistan said yesterday that tough essential reforms can ensure that high international food and oil prices do not derail Pakistan's poverty reduction and economic development progress.

"During my last trip to Pakistan two months ago I noted that the economic challenges did not constitute a crisis, but the economic picture for Pakistan was very serious," Patel said after interactions with various stakeholders.

Senior officials of the bank visited Islamabad to review the economic situation inherited by the PPP-led coalition government and suggest measures to steer the country out of economic crisis. Patel visit is the latest in a series by world leaders particularly US senators, who have been here to pursue their agendas.

The senior officials of the multinational donors agencies also seem to be keen to ensure their say in the new economic policies of the government.

A source in the finance ministry said that due to the cash flow problems to finance the soaring balance of payment, Pakistan would need assistance from the International Financial Institutions (IFIs). He said World Bank is attaching its loans with a string of conditionalities including removing of all subsidies including oil by making it very difficult for new government to go for it.

"We are trying to manage our balance of payment issue so not to go for the bitter pills. However, if fail to do so then we have no other option but to accept the donors dictations," the official said.

The source said as Pakistan has no formal arrangement with the IMF so the World Bank is also monitoring the fiscal and monetary policy of Pakistan as well. During the five day stay in Pakistan, Patel met with Prime Minister Yusuf Raza Gilani and the government's economic team led by Federal Minister for Finance Syed Naveed Qamar to discuss the economy and safety nets to protect the poor as domestic prices are adjusted.

Patel offered World Bank support to build upon international best practice in responding to the current situation. During his visit Patel reconfirmed the World Bank's ongoing commitment to Pakistan.

He noted that despite uncertainty in the recent months the bank's programmes in Pakistan remain on track. He said that bank's technical assistance with targeting exercises on the social safety nets, capacity and institution building for water management, and electricity generation and distribution efforts will help Pakistan in meeting its development priorities.

"Over the last five years I have visited Pakistan very often and have always gone back impressed with the resilience of its people," said Patel.

this is why i said democracy will not work in pakistan.

If Pakistan was touted to be the Tiger Economy of Asia for the last several years, then why is it going down so badly? Obviously we were fed alot of fables... manipulation of figures was used to trick the masses.

Maybe the sharp rise in oil and food prices here in the UK is due to Asif Ali Zardari's children living here!!!

A country develops when managers are competent and not corrupt, that also gives investors confidence on the mangers of the country and thus they invests in the country. Pakistan was touted about becoming tiger economy during last several years because it was growing fast and was becoming tiger economy. But most Pakistanis are big idiots and do not know anything about how economy works and how country grows. What they voted and brought in was unexpected as no one thought that Pakistanis are so idiots that they would bring in past crooks and thugs without thinking of their own wellbeing or wellbeing of the country.

Anyhow, since the time these crooks and thugs got their foot in the power corridor of country, they have done everything to erode the confidence and trust of investors. Most investors are finding difficulty in trusting these crooks and since they care for the safety of their investments, many are liquidating their investment and running out of Pakistan with their money. Corrupt politicians like Nawaz, Zardari and other political goons are also transferring their ill-gotten wealth that they accumulated before Musharraf came to power but got stuck in Pakistan after military takeover and now free. All this is effecting rupee value and helping in deteriorating confidence of investors on Pakistan economy. Hence, Pakistan economy is crumbling

Actually, economy may grow reasonably this year (2007-08) but it is obvious that if these crooks would stay and would do what they are doing and what they are good in doing, investors would keep leaving Pakistan and economy would keep deteriorating (I am hoping that sense comes back and things change, but obvious is not so good).

If Pakistan was touted to be the Tiger Economy of Asia for the last several years, then why is it going down so badly? Obviously we were fed alot of fables... manipulation of figures was used to trick the masses.

Maybe the sharp rise in oil and food prices here in the UK is due to Asif Ali Zardari's children living here!!!

JF-17 .. figures & accouns were checked & cross checked by foreign third party auditors .. & the Rising tiger economy of Asia was not a title from Pakistani's but from financial managers of the world & asian banks etc .. You can fool a fool but not professional and that too for 8 consective years !

It was for clearning the accounts & puting up a system of accounting and checks for which WB & ADB gave Shaukat Aziz awards and used his assessment system for many African countries .. However, you need to take the words of our B.COM LLB Finance Ministry who in his past was just a mere accountant at Ittefaq Foundries !

2007 was marred with suicides & scandals and elections .. hence, one can imagine that the budget went haywire .. but that does not mean that you start questioning all the past 8 years itself !

It's like saying ..KSE is a bubble .. let's start back to 1,500 points from 14,000 because it is a bubble ! Just this official statement will mean KSE will go down minimum 400 points / day and at the end of the month you will have KSE at 10,000 points & you will ... see I was saying so since last 1 month !!

This is how financial statements means to market which is based on free market / capitalist system ! Than again do Pakistani people know this ! The only complain at how govt could not control prices of Tomatos, potatoes & atta !

Why waste your time and breathe on people who have no idea how the financial markets work and only come here to post accusations without thinking.

If Dar couldnt prove the fudged figures because he cant figure out how then Shaukat Aziz is better ?
If Dar cant continue on with what Shaukat Aziz was doing because he dont know how to then Shaukat Aziz is better ?
If Dar cant control the economy and starts to ruin it as against the performance of past 8 years then Shaukat Aziz is better ?

**Sighs**

No need to waste your energy, time and bandwidth with these sheer losers.

just sit back, grab the pop corn and watch your country burnt, plundered, looted untill the people start burning themselves alive.

These politicians are going to bring some sweet pain for the idiot citizens of this country.

I've never been to Pakistan, and honestly I can see why my parents left twenty five years and aren't in the mood of ever returning to live there. I wanted to go, but now I'm not going to even bother. Why would I want to be robbed at gunpoint in the middle of broad daylight in Karachi? Oh wait, don't have to worry about that anymore now do I. The good old mob justice will come in handy because the police are too corrupt to install law and order, just makes Karachi look brilliant to investors doesn't it?

Oh yaar, it doesn't matter if a select few in our society are making a huge killing by playing in the stock market or selling and buying plots in DHA... I live in Pakistan and have lived here for the last 5 years...

You can bring up stats of people making money by satta... But the fact of the matter is that the price of roti from one rupee to five effects everyone (poor and otherwise)

Punjab is a pretty rich area due to the fact that they have the ability to grow their own food and thereby better their lot in life...

If you drive from Multan to DG Khan, you see the difference in people as well as the landscape... As the desert takes over the fields, you see people becoming thinner...

There is a huuuge amount of poverty in balochistan and sindh... Some areas and people resemble sub saharan african conditions... Imagine what the prices would do to those people...

There is a considerable amount of frustration building up in the people; agar ye media naa hota to we would have seen revolution long ago...

You guys don't know what happened when BB died... In my frank opinion, the situation needs to be diffused... If Moshe needs to go to diffuse it all; so be it... His refusal to budge from his seat is the root of the entire problem... Let him go and let the new govt become answerable to the people...

PZ you have only been in Pakistan 5 years so it seems you no not realise how bad things were in the 1990's and how in fact the Musharraf era was a period of relatively low inflation.

http://www.accountancy.com.pk/docs/economi...tan-2006-07.pdf

Table 8.3 Historical Inflationary trend (page 121)

Overall CPI

Average 1990s - 9.7%
Average 2000-07 - 5.8%

Food

Average 1990s - 10.1%
Average 2000-07 - 6.4%

Non food

Average 1990s - 9.3 %
Average 2000-07 - 5.5%

Core

Average 1990s - 8.9%
Average 2000-07 - 4.6%

WPI

Average 1990s - 10%
Average 2000-07 - 6.6%

SPI

Average 1990s - 9.9%
Average 2000-07 - 6.9%

For every measure, inflation was higher in the 1990's than in the Musharraf era. So PZ were the poor better off in the 1990's when the average food inflation was 10.1% per year or in the Musharraf era when average food inflation was brougt down to 6.4% per year.

No need to waste your energy, time and bandwidth with these sheer losers.

just sit back, grab the pop corn and watch your country burnt, plundered, looted untill the people start burning themselves alive.

These politicians are going to bring some sweet pain for the idiot citizens of this country.

Psycho .. sorry I will not .. these people by posting negative and we not making noise means some people will get the impression that all was not well for sure. However, you & me know the truth.

It is just like English movies .. they create as much fun about Japanese & Germans as they can and today lots of people believe in it.

Also some people do read our threads and they are foreigners and I don't want to give them a chance to think that our figures are fudged because that's the truth & professionals know that, all banking industry know that .. you can't keep fooling S&P / Moody's rating agencies. You would be a fool to believe that these rating agencies who know all the tricks in the book can be kept on fudged figures for 8 years.

Punjab is a pretty rich area due to the fact that they have the ability to grow their own food and thereby better their lot in life...

If you drive from Multan to DG Khan, you see the difference in people as well as the landscape... As the desert takes over the fields, you see people becoming thinner...

There is a huuuge amount of poverty in balochistan and sindh... Some areas and people resemble sub saharan african conditions... Imagine what the prices would do to those people...

PZ : Please don't talk to me about these areas .. I own in partnership a petrol (diesel) pump at Sadikabad and every year I go ... sometimes by Plane to Rahim Yar Khan or otherwise by Taiz Gam .. don't tell me the stories ..

In Sindh from Tando Allahyar after 4 kilometers to Matyari there is a village called Jhundo Marri my childhood friend & some small land for me gifted by their father is still there ... due to no water .. it is bunger / dry.

& for Baluchistan .. I have many friends in Oman who are from Baluchistan and i plan to go on Deer hunting in Dasht as my a major land owner of Dasht who has car Dasht 1 is a good friend of mine !!

I own a property in Islamabad (DHA phase II extension) & in Karachi (Clifton) too ... I see Pakistan quite clearly & interestingly .. don't tell me the poor are dying of hunger ! A Painter costs 400 Rs. / day in Karachi and he is never doing work .. except smoking & drinking tea .. & people don't have working guys !

Poor people in the village don't buy atta .. they have it from their own barter system of stocks available from the harvest ..

Of course people are surely effected .. but no we don't have people dying of hunger ! Go to Cambodia, Philippines, Sri Lanka, India, Africa .. and than realize what poverty means !

Well lets think about this positively.

They've all got to die some time (credit to god for that one), and somebody needs to stand up and actually lead the country rather than make lists of corruption charges etc, (um........think we're gonna have to look at god for that one too!) then the pakistani masses need to wake up and do something about their nation. (you guessed it, god.)

Conclusion: God help us!

There was a thread on this forum providing an economic comparison between the 1990's and 2000's. Does anybody have the link for it?

http://www.khaleejtimes.com/DisplayArticle...siness&col=



http://www.khaleejtimes.com/DisplayArticle...siness&col=








http://uk.reuters.com/article/oilRpt/idUKSIN17938220080614



--- GEO NEWS --- Today




Looks like Ishaq Dar's gifting Pakistan's economic policy to world bank is starting to pay dividends

The alternatives are-

Borrow from SBP/International lenders and create huge national debt and fiscal deficit.

Reduce developmental budget and compromise on nation building

Increase Tax rates massively and drive away investors to low tax havens

Every govt in entire world fights to contain and reduce subsidies so the advise has merit although WB and IMF are some time to bookish in forcing developing countries to reduce essential subsidies which eventually turn out to be destabilizing and counter productive.

Choices that politicians face are a lot more difficult than most people recognize.