Loud Thinking

Archive for the ‘My Views’ Category

Mr. Prime Minister, just for your information, I am reproducing below my six questions to the then finance minister of Pakistan, Mr Abdul Hafeez Sheikh, which remained un-replied till date, but are an eye opener, that how Pakistan was plundered by the past government.

1. Pakistan is repaying $7.6 billion to the IMF. Did we receive exactly this much amount or the total sum was less than this figure?

2. How much amount of interest Pakistan will be paying over the principle sum of this loan of $7.6 billion from the IMF? Or the IMF will be charging interest on the whole sanctioned amount of $11.3billion?

3. Did Pakistan pay and what was the total bill for the travelling, boarding and lodging of IMF delegation’s recent visit to UAE, for discussions with our economic team?

4. Besides the interest, how much service, handler’s commission and or other charges were deducted by the IMF, on its loan of $7.6 billion to Pakistan?

V.V. Important question.

5. How much service charges or penalty was charged by the IMF to Pakistan, for not utilising or obtaining the remaining $3.7 billion amount, from the originally sanctioned loan amount of $11.3 billion; because Pakistan got only $7.6 billion from IMF?

6. When will Pakistan get its overdue payment of $800 million from the Etisalat Telecom?

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

Mr prime minister, every student of economics knows that never to use good money to chase bad money. Hence, there is no logic in seeking fresh loan to repay the old loan. This is a sure shot recipe for disaster, just like treating a cancer patient with fake medicines. IMF should be clearly told that Pakistan was well within its rights, to have asked for the write off, of the remaining unpaid amount of their loan. However, what we are seeking is just a moratorium.

Pakistan cannot afford to pay IMF’s remaining loan, over the peril of its economic demise.In this regard, you may also order the Foreign Office to contact all the 49 Nato governments, to extend moral and financial support to Pakistan, so that we are also able to strongly look after their interests, in providing all the necessary facilities for their troops in Afghanistan. The USA and the Nato should also be reminded that Pakistan is not charging a single penny for their military over flights, for which they offered more than $20 billion to Turkey, during the last Iraq war.

As such, Pakistan’s whole hearted cooperation in the WOT deserves matching reciprocal response in the shape of using their influence in IMF to facilitate Pakistan by way of at least 20 years moratorium in the IMF loan repayments.

Link:-

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

It is very surprising that PML-N’s government is not working on the lines to ask the IMF to have a heart and be patient with our loan repayments, considering the fact that Pakistan has been totally destroyed during the last 15 years of war on terror, jointly fighting with 49 Nato countries as a major non Nato ally. Moreover, this war has inflicted more men and material losses on Pakistan than the combined losses of the 49 Nato countries. As such, Pakistan has a right to be given some moratorium in its repayment of IMF loan. Even otherwise, Pakistan has already repaid more than the entire amount of the loan by partnering the West in it’s WOT; and also by not demanding any penny from the Nato for the military over flights to and from Afghanistan. Here, the Nato must also be reminded that at the beginning of the Iraq war, Nato offered more than $20 billion to the Turkish government for the over flights.

Link:-

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

Mr prime minister, not that I am only saying that your government must not take IMF loan to pay the old loan, which will be the biggest trap for our future generations; but I have also given three out of the box solutions (at the bottom of this write up) for Pakistan, to resolve this issue of old IMF loan payments, without taking fresh loans from the IMF.

Link:-

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 sense, every IMF mission is FRAUDULENT even today.

In 1988, economist Davison Budhoo revealed in his 22-page resignation letter – more of an expose of IMF ‘expertise’ – after his 11 years with it: “When we went on a mission, we did not even have the scope to innovate, to look at the country and make projections, that you thought were reasonable… there was already a briefing paper before we entered the country. We were told what we were expected to do, and give conditionality in terms of what the fiscal deficit was and how much it should be reduced; even before we entered the mission… we were expected to structure our findings in relation to the figures in the briefing paper, which were put there without any research, and were predetermined. So the conditionality was also predetermined… In this sense, every IMF mission is fraudulent even today…”

My article link :- http://e.thenews.com.pk/6-27-2013/page4.asp

“People are attracted to you by what they see in you; they
remain attracted to you by what you see in yourself.”

— Mark Amend

Not all journeys have a reason
Not all roads have a destination.

Why CH Gayle almost EVERY times fails to score against India? Is there something else to it? Where is ICC’s ACU….sleeping?

Why CH Gayle almost EVERY times fails to score against India? Is there something else to it? Where is ICC’s ACU….sleeping?