Loud Thinking

Archive for July, 2013

Once you learn how to be happy, you won’t tolerate being around people who make you feel anything less.

Dear Bank,

We (Pakistan), paid $37.2 billion as debt-servicing alone in the last eight years.

This is many times more than the principal amount that we borrowed during this period.

Naeem Sadiq

Attention Mr. Ishaq Dar, the IMF and the World Bank.

we paid $37.2 billion as debt-servicing alone in the last eight years. This is many times more than the principal amount that we borrowed during this period.

An Eye Opener by Mr. Naeem Sadiq

Dear Bank

Naeem Sadiq
TheNews
Friday, July 12, 2013

Many thanks for the $5.3 billion loan. One small step for a bank, a giant leap for a chronic borrower. I can proudly claim that my debt, steadily rising every year, has now reached $66.17 billion. This would mean that every member of my family must cough out $366 to repay this loan. This can only happen if we all stop eating, drinking – in fact living – for the next 10 months. Is that what they also call collective suicide? I made sure not to consult my unenthusiastic family, on whose behalf these loans were taken. They never seem to agree with my lifesaving – or should I say death-delaying? – initiatives. You too must be equally ecstatic. After all you end up gaining the most. You will retain most of this amount as repayment of the earlier loan, while my unflinching yearly debt-servicing will keep you charmed for a long time to come.

You had raised a number of questions before you approved the loans. Why is it that despite such massive borrowing, my family shows no signs of getting any better? Why are 50 percent of the family members illiterate and 60 percent below poverty level? Why are half the children out of school? Why is there no electricity half the time? Why does no one in the family have access to clean tap water?

You also wanted to know the reasons for the striking disparity in the lifestyle of some other members of our family. They move about with armed guards in obscenely large vehicles (often smuggled), live in luxury homes, have properties and cash stacked in foreign lands and drink corporate soda or water only from those neat-looking plastic bottles. It is only this segment of the family that is forever pushing for more loans. They are the ones who justify the bank’s slogan of ‘poverty alleviation’ – since this is the only group whose poverty gets truly alleviated.

My sixth sense tells me that you already know the answers to all these questions. You were merely going through the motions, filling forms, giving an impression of officious formality and appropriateness. The fact that I earn little, waste a lot and pilfer the most, makes me an ideal customer for the sort of business you are in. I have learnt to plead my case by closely studying beggars who flock the streets of Karachi during the holy month of Ramazan every year. I use exactly the same techniques with only three minor variations – dress, language and location.

Now, some bad news for you. My entire family, except those very few who gained the most from your loans, got together last night to say that they would no longer tolerate being pushed into this bottomless cesspool.

When I gave them your message that they needed to tighten their belts, they said they were too poor and did not have any belts to tighten. They said they were fed up of the loans taken on their name – the loans that make the elite of the family get richer and have still more fun. The mounting loans have made them poorer than before and taken away the last shreds of dignity that covered their half-naked bodies. Getting crumbs like 0.8 percent for health and 1.8 percent for education made them still more unhealthy, and yet more uneducated.

In simple words, my family has decided not just to stop seeking any further loans but to also stop any further debt-servicing. An unemployed maths teacher in my family spent some time to calculate that we paid $37.2 billion as debt-servicing alone in the last eight years. This is many times more than the principal amount that we borrowed during this period.

We are absolutely sure that there is no law that can force us to close our schools, starve our children, privatise our resources and abandon our welfare, simply because our selfish elders borrowed huge sums on behalf of those who cannot even spell the word ‘loan’ or have ever seen a bank from the inside.

Having paid off the principal amount several times over, we have a good reason to ask for total debt cancellation and an immediate freeze on any further debt-servicing. Do you realise that discovering a new mode of dying – by getting trampled while struggling to receive free food donations – speaks volumes about the poverty that your loans have been able to alleviate?

Sincerely,

Issac.dare@gmail.com

naeem sadiq
twitter : @saynotoweapons
———————————————————————
How the state promotes crime and militancy. Look at the yearly average for prohibited bore licenses (PB) and non prohibited bore licenses (NPB) issued in last 10 years to the rich and powerful, to friends and relatives and to party men and criminals.

Yearly average of PB licenses, from 2003 to 2007………361
Yearly average of PB licenses, from 2008 to 2012 ………13895

Yearly average of NPB licenses, from 2003 to 2007………15261
Yearly average of NPB licenses, from 2008 to 2012 ………240494

Ref: official info obtained by using FOI and SC Suo moto case 16/2011

The best thing about Malala’s recovery is that there is no visible scar mark, which reflects the excellent medical treatment she was provided in Pakistan and the UK.
Malala stay blessed.

Gratitude is being thankful.

“Wealth consists not in having great possessions, but in having few wants.”

Epictetus (55-135);
Stoic philosopher

There will always be people in life who treat you wrong. Be sure you thank them for making you STRONG!

Dear Mr. Ishaq Dar,

Your kind attention is invited towards the following news item titled “IMF extends zero interest rates on poorer country loans” published by the daily “Pakistan Today” on 23 December, 2012 detailed news available at the link :- http://www.pakistantoday.com.pk/2012/12/23/news/profit/imf-extends-zero-interest-rates-on-poorer-country-loans-2/

In this regard, as per my many earlier submissions to the PM and the entire nation, I am fully convinced, without an iota of doubt that it is sheer disaster recipe for the Pakistan’s economy, to seek loan (that too on an exorbitantly high rate of 3%) from IMF, to repay their old loan. Moreover, your argument that this was the only option to avoid a default, also do not hold water, as firstly, I have explained not one but many viable options in my earlier communications and secondly, default is better than the destruction of the very foundations of the nation’s economy. Hope you know very well that in the recent past, many countries have bravely negotiated with the international lending agencies and succeeded in getting reduction of up to 60% of their loans.

However, in Pakistan’s case our loan amount is increasing with an unbelievable speed. It was recently reported that when PPP government took over in 2008, our debt liability was $40 billions and now it has increased to much more than $60 billion.

The nations fails to understand that why you remained silent as PMLN’s financial expert and also as a senator, during the PPP tenure, when it crossed the LEGAL and constitutional limit of 6% debt to GDP ratio. This was such a grave violation of the law that had PMLN taken up this issue with the Supreme Court, the PPP government would have been immediately dismissed.

So how can you now absolve yourself from this financial mess, by just saying that you took over the government with nation’s economy in very bad shape?

Also, how can the history exonerate the PMLN in general and Mr. Ishaq Dar in particular, for not playing a pro Pakistan role when the PPP government was playing havoc, with the country’s economy?

As such, Mr. Ishaq Dar, there is only one way of atonement of our past acts of commissions and omissions, by not to further burden the nation’s economy with extremely and unprecedentedly expensive loans of IMF, lest the future generations may not have to say that “لمحوں نے خطا کی تھی صد یوں نے سزا پائ”

Kindly still there is time to explore other options to avoid IMF loan. Nothing is impossible. Where there is a will there is a way.

With best regards,

Syed Nayyar Uddin Ahmad
0321-9402157
Lahore.

Sent from my iPad3 4G LTE

H’able Mian Nawaz Sharif Sahab,

Salaam.

The above mentioned news reported today on 10 July, 2013, by the jang.com.pk that Saudi Arabia and UAE are providing (interest free and conditions free) cash and kind assistance of $8 billion to Egypt, further highlights the importance of my three doable suggestions put forward for your kind consideration in my article titled “Mr. PM! there are three options to avoid IMF loan”. published in the daily “The News” dated 27 June, 2013 links:-

http://www.thenews.com.pk/Todays-News-13-23752-Mr-PM!-There-are-three-options-to-avoid-IMF-loan

http://images.thenews.com.pk/27-06-2013/ethenews/t-23752.htm

In this regard, vide my email dated 9 July, 2013 addressed to your honour, titled “Few Suggestions to Revive Economy, Fast Track Improvements in Energy Crisis and Nation Security Policy” the possibility and practicability of option No.2, of my above mentioned article was duly elaborated for the convenience of your finance team as below:

Quote. “Your kind attention is invited to my earlier email informing that the news that Abu Dhabi has planned a $50 billion investment in India; and the negotiations are at a very advanced level. Abu Dhabi has the WORLDS BIGGEST SOVEREIGN WEALTH FUND . Now considering the following plus points of Pakistan:

i. Pakistan is the only country in the world which allows foreign investors to repatriate 100% profit and investment without any hassle.

ii. There is no income tax on IPP’s in Pakistan.

iii. The Indians are severely annoying the Abu Dhabi people with objections on their deal of Etihad Air with Jet Airways of India, which will give EA rights over 37,000 weekly seats in India, after EA purchases 24% shares of Jet Airways. Pakistan must grab this opportunity and offer a suitable agreement with PIA. Indian Jet Airways is in much more bad financial shape than PIA and is owned PRIVATELY.

iv. Pakistan should also offer to Abu Dhabi, management sharing in other avenues like, Port Qasim, KPT, steel mills, OGDC, PNSC etc., in lieu of their investment.

v. Pakistan can also offer to Abu Dhabi to invest in new Islamabad Airport, expansion and development of other airports, helicopter and small planes air taxi service to and from big cities to many smaller cities and towns, and development and export of world class fisheries, corporate farming, export of dairy products, fruits, flowers etc.

vi. Abu Dhabi had a very long and successful JV experience with Pakistan viz., Pak Arab Fertilisers Limited. Now they can be offered such JV’s for Refineries, Oil and Gas explorations, defence related production items and air craft manufacturings etc.”Unquote.

Mr. Prime Minister, this news of cash and kind (interest free and conditions free) financial help of Egypt, by the KSA and UAE proves that Pakistan was deliberately forced to take IMF loan with very high repeat very high interest rate of 3%, coupled with conditionality’s. Further, it has also proved that we have completely failed in convincing our Arab friends and 49 NATO countries led by the USA, that helping Pakistan is helping the world and its neighbours, against the menace of terrorism, mainly because Pakistan is the front line state against this world war of terrorism, for the last 13 years. Our friends and allies should be cognisant of the fact that the more Pakistan goes into poverty and economic deprivation, the more this situation will breed the terrorists.

In view of the foregoing, Mr. Prime Minister, you are passionately requested to personally take the charge of the economic policies of Pakistan, vis-a-vis it’s friends, to save Pakistan from the stranglehold of IMF and the World Bank; and from the tunnel vision of our financial and foreign affairs experts. This is all the more necessary because business as usual will never deliver (like the lousy suggestions of increasing tax burden and enhancing utility services rates, so that the ages old policy of penalising the honest common man and rewarding rich scoundrels, continues in this tenure as well, which obviously is the best recipe of an early demise of ANY government).

Pakistan needs nothing, except out of box solutions, which is only possible from a fearless leader and not a timid person, because a timid person like Pervaiz Musharraf, can rule a country, but he can never rule the hearts of his subjects.

With Best Wishes and Kind Regards,

Syed Nayyar Uddin Ahmad

snayyar.com
Lahore.

Sent from my iPad3 4G LTE

Few Suggestions to Revive Economy, Fast Track Improvements in Energy Crisis and National Security Policy

H’able Mian Nawaz Sharif Sahab

Salaam.

This is to felicitate you and your team for a highly successful visit to China. I know you must not even be resting in your sleep and always pondering how to put back Pakistan on its rails, which obviously is a gigantic task. However, Allah gives the hardest battles to the strongest soldiers.

Under the circumstances, revival of economy, minimising terrorism and restoration of law and order are the crying needs of Pakistan.

Your kind attention is invited to my earlier email informing that the news that Abu Dhabi has planned a $50 billion investment in India; and the negotiations are at a very advanced level. Abu Dhabi has the WORLDS BIGGEST SOVEREIGN WEALTH FUND . Now considering the following plus points of Pakistan:

i. Pakistan is the only country in the world which allows foreign investors to repatriate 100% profit and investment without any hassle.

ii. There is no income tax on IPP’s in Pakistan.

iii. The Indians are severely annoying the Abu Dhabi people with objections on their deal of Etihad Air with Jet Airways of India, which will give EA rights over 37,000 weekly seats in India, after EA purchases 24% shares of Jet Airways. Pakistan must grab this opportunity and offer a suitable agreement with PIA. Indian Jet Airways is in much more bad financial shape than PIA and is owned PRIVATELY.

iv. Pakistan should also offer to Abu Dhabi, management sharing in other avenues like, Port Qasim, KPT, steel mills, OGDC, PNSC etc., in lieu of their investment.

v. Pakistan can also offer to Abu Dhabi to invest in new Islamabad Airport, expansion and development of other airports, helicopter and small planes air taxi service to and from big cities to many smaller cities and towns, and development and export of world class fisheries, corporate farming, export of dairy products, fruits, flowers etc.

vi. Abu Dhabi had a very long and successful JV experience with Pakistan viz., Pak Arab Fertilisers Limited. Now they can be offered such JV’s for Refineries, Oil and Gas explorations, defence related production items and air craft manufacturings etc.

Proposals for Energy sector policies.

In this regard, few suggestions are submitted for your perusal and consideration.

Energy

1. Immediate action may be initiated for meeting the electricity shortfall from both the demand as well as, the supply side.

2. From the supply side, it has been reported that if electricity is imported from other countries like India, it may take two years for just 1000 MW availability. In my opinion, if wind and solar energy farms are deployed on a war footing basis, we can generate much more energy, in less than a years time.

3. Another better way to give IMMEDIATE relief to the general public, is to order the banks to give interest free loans for installation of complete day and night working solar energy systems (I have one working at my residence of 4000 Watt capacity which runs each and every domestic item except air conditioners, which are on WAPDA power). In this regard, public should also be allowed to import all Solar system items and batteries duty free.

Moreover, dual system or two way metering, electricity meters be also allowed to be installed, so that any spare electricity going into the WAPDA system, be adjustable in the bill.

4. No shop or business concern be allowed to be open after 7 PM in the evening. This law should be strictly and ruthlessly applied, without any distinction or discrimination. Further, , there should be a complete ban on decorative lightings and other wasteful electricity usage.

4(a). In view of the recent government report that over 40% electricity bills are not paid/recovered and also the known huge gas thefts of billions of Rupees, an across the board crack down with iron hand on stealers of electricity and gas, without any discrimination, must be unleashed, so that there was NO NEED FOR INCREASE OF POWER AND GAS RATES TO PUNISH THE HONEST PEOPLE WHO ARE ALREADY PAYING EACH AND EVERY PENNY OF THE BILLS HONESTLY. REPEAT DON’T PUNISH THE HONEST AND DON’T REWARD THE THIEVES BY EASY METHOD OF GENERATING REVENUE THROUGH HIKE IN TARIFFS. PEOPLE ARE ALREADY FED UP WITH THE PRICE INCREASE IMMEDIATELY AFTER THE TAKING OVER OF NEW PMLN GOVERNMENT. THIS IS A VERY DANGEROUS SIGN AND YOU MUST NOT ALLOW THE SUGGESTIONS WHICH WILL FORCE MASSES TO GO AGAINST YOUR GOVERNMENT. YOU MUST NOT REPEAT MUST NOT ALLOW YOUR ADVISORS TO MAKE NAWAZ SHARIF OF MURSI IN LESS THAN A YEARS TIME.

5. As was allowed in your earlier rule, all marriage halls should only serve soup or cold drink and serving of food be strictly prohibited.

6. If you want to earn a few quick billion USD’s in the government coffers, go for a very fast track 3G telecom license auction, under a very honest man like Justice Bhagwan Das Sahab. Plus also go for auction, again on a very fast track basis, for the installation of excise revenue tax stamps system on cigarettes manufacturing units. The Turkish government, where cigarette consumption is almost equal to Pakistan, is getting additional revenue of 2 billion US Dollars, with the installation of this system (gradually this system can be implemented on other excise paying items). These two auctions, will not cost a single penny to the government, but may give a revenue income boost of about 5 billion US Dollars, IF THE AUCTION IS DONE PRUDENTLY AND HONESTLY, particularly in the telecom auction, no one should be allowed payments in INSTALMENTS AND ALL PAYMENTS SHOULD BE IN USD ONLY.

7. Last, but not the least, Pakistan can not be put back on the track, till such time normalcy and peace is restored in the entire length and breadth of the country, for which Pakistan immediately needs an original and home grown security policy, which should be later on implemented, as is being done in the USA, by the Homeland Security Department, without any exemption or discrimination for the VIP’s etc. Besides other comprehensive details, this policy should also aim in the long run, to make Pakistan a gun free country. This may sound a bit far fetched idea, but then not failure, but low aim is a crime and in order to achieve the impossible, it is precisely the unthinkable that must be thought. Moreover, Pakistan has reached a stage of life and death against the terrorism, which has virtually blown the country to the smithereens. So, the security policy makers must be clearly told to not just copy and paste the American or Israeli security policy measures. Ours is a different case and we have NO OTHER OPTION EXCEPT TO PREVAIL OVER THE MENACE OF TERRORISM IN THE SHORTEST POSSIBLE TIME. As such, our security policy paradigms should be proactive, ingenious and visionary. At any cost we have to be a step head of our internal and external enemies. This security policy should be an amalgamation of internal, external, defence, religious and national issues.

Wishing you Godspeed in your endeavours to uplift Pakistan from the abyss.

Best regards,

Syed Nayyar Uddin Ahmad

Lahore.
snayyar.com

Sent from my iPad3 4G LTE