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Archive for the ‘Pakistan’ Category

Height of economic mismanagement..!

The government of Pakistan finalised a deal on Sept 23 with a consortium of banks to arrange $625 million loan at an average rate of 5.3 per cent over London Interbank Offered Rate (LIBOR).

Considering that world over, one hardly gets 1% interest, over dollar deposits in banks, if the GOP had offered even 4% profit to the expatriate Pakistanis, it would have fetched foreign exchange many times over $625 million, that too on a much cheaper rates.

I am just astonished at the way the financial affairs of Pakistan are being run by the experts of the ministry of Finance.

However, one thing is certain, the previous PPP government is now looking much better than the current PMLN’s highly experienced rulers, especially in the financial affairs.

Mr. Ishaq Dar can you answer the questions raised below, or the nation should rue that moment, when PMLN was voted by the people to govern with its team of extremely incompetent and nincompoop finance managers.

Now there is hardly any doubt that PMLN has totally messed up the country’s economy. Needs any proof, just read the letter attached below, and decide for your self, the sheer incompetence of the government’s finance team.

A letter titled “Flight of capital” published by the daily Dawn on 4 October, 2013.

PAKISTAN’s rupee was at 100 to one US dollar on June 1 and today’s rate is hovering around Rs110 to one US dollar. This means we have a devaluation of 10 per cent in less than three months since this government came into power.

The unabated beating of our currency in the exchange market has very serious consequences. It is sharply resulting in hyper inflation, mainly because we are consuming imported goods worth around $4 billion a month, and the depreciating currency directly increases the cost of imports.

The daily increasing inflation is making lives of the people miserable. In a desperate effort to increase forex reserves and stop the currency falling over the cliff, the government finalised a deal on Sept 23 with a consortium of banks to arrange $625 million loan at an average rate of 5.3 per cent over London Interbank Offered Rate (LIBOR).

Instead of stabilising Pakistan’s rupee, this reported deal backfired and has spurred currency devaluation because clearly this deal has sent wrong message to forex market.

Even the stock market reacted very negatively, and the Karachi Stock Exchange lost more than 500 points on Sept 24. I think many economy watchers in and outside the country would be wondering why the government should show such an immense desperation to market by entering into such a forex loan at such a high interest rate as 5.3 per cent above LIBOR.

This government-bank consortium deal of $625 million loan appears to have been done in unnecessary desperation and haste without much economic homework.

I do not know if the following points were debated at length before making such a deal. What is the surety that such a deal will not lead to cannibalisation of dollar deposits?

How will such a deal increase reserves if banks of consortium transfer foreign holdings of residents to the SBP and earn higher profit of 5.3 per cent above LIBOR?

Will it not lead to more dollarisation of the economy when market senses so much desperation of the government that it enters into such a deal? Instead of making such deals, the government should take bold steps and make necessary structural reforms because the country’s economy is completely fractured.

EJAZ AHMAD MAGOON
Lahore

نہ سمجھو گے تو مٹ جاوگے اے حکمرانوں تمھاری داستان تک نہ ھوگی داستانوں میں

Dooms day for the honest people of Pakistan.

What is happening in Pakistan. Are the rulers so naive that they are being misled by their core team, to commit absolutely stupid mistakes? Are the rulers so ignorant that they are not aware about the fact that they can not extract any further juice from the public, after it has been put through the juice extraction machine, many times over, since the take over of the PMLN government?

In India, Petrol price cut (due to the reduction of international oil prices from $117 to $113) by IndiaRs 3.05 per litre (A Times of India news published on 30 Sept. 2013).

Now, look how exactly on the same day, PMLN’s government has treated the Pakistani nation, by increasing the electricity rates for the domestic consumers by 40-80%, and instead of reducing the petrol prices, it has been further enhanced by PKR. 4.12/L.

The only argument with the PMLN’s government, for increasing the power rates is that how can expensive electricity be supplied, at a less rate and as such, general public can not be given subsidy on electricity? This argument does not hold water, in view of the fact that; instead of recovering electricity bills from those people, who are involved in power theft, at an ultra massive level (above 40% line losses as per NEPRA), the government has adopted the easy way of recovering the enhanced bill, by punishing those 60% honest bill payers, who have never been involved in the power theft.

Everybody, even the layman knows in our country that our electricity is costing very high, just due to the world’s highest ratio of theft or line losses.

As far as, the matter of subsidy is concerned, our rulers are enjoying all types of subsidies for the officially allowed luxuries even to their families, as well. Moreover, poor masses are going hungry, as they can not buy ROTI being sold in the market at Rs.8-12; but our parliamentarians are getting 5 star quality food, at highly subsidised rates, where they are charged just Re.1 (Rupee one only) for a Roti.

What a system, where a poor citizen (Mr. Ishaq Dar himself admitted when he spoke in a seminar on 9 September, 2013 that more than 60 percent Pakistani population or 110 million people were living below the poverty line, which was One Dollar a day) is sleeping hungry with his entire family, where people are committing suicides on daily basis, due to the extremely harsh economic hardships; but these poor people are being made to pay for the free rides of the public representatives?

Today is a dooms day for the honest people, who in fact, deserved a reduction in the petrol prices, have been punished by the government, with a historic rise in the power and petrol rates.

Isn’t it a fit case for a Suo Moto action, as was done in the case of high sugar and petrol prices, in the last PPP era?

Since, this democratically elected parliament, has again failed to shield the masses from the tyranny and excesses of the government, the people are fully justified in looking towards the others, to come to their rescue.

For the general public, it matters the least that who rules them, but what matters them the most, is how they are ruled.

In view of the foregoing, I forewarn the Pakistani ruling elite and all the public representatives, to beware of the day, when people will welcome any other system with open hands, which will not be so cruel and tyrannical, like the current decadent system of governance.

Moreover, the Honourable Prime Minister of Pakistan, Mian Muhammad Nawaz Sharif Sahab (Hope you remember the solemn commitment of your government on the floor of the house that no mini budget will be coming during the year) is again reminded that, as forewarned earlier, your honour should immediately shunt out those advisors, who are hell bent to ensure that Mian Nawaz Sharif be remembered in the history of the country, as the most hated, cruel and tyrannical ruler of Pakistan, who snatched even the last piece of the dry bread from not one or two persons, but crores (minimum 11 crores) of poor masses.

As a safety and precautionary step, government must announce that with immediate effect, no vehicle of any type, including cycles and motor cycles etc., be allowed to enter or be parked in any bazaar throughout the country.

This is a harsh and very inconvenient step, but it may save many lives.

Rahul Gandhi’s severe chiding of Man Mohan Singh, reveals the true worth of the Indian PM, who looks more of a nincompoop stooge than a man in charge of the government.

As I have said earlier, meeting the Indian PM, will be a sheer waste of time of Mian Nawaz Sharif, who should deal directly with the Indian army chief, who is the man calling shots in India.

Civilians are used as pawns in India, by its all strong establishment, who recently came out in the open, informing the media that Indian ministers are on the payroll of the army; and that even MOD, was bugged by the Indian army.

Moreover, there is no doubt that the epicentre of all the terrorist activities, killings and destruction in Pakistan, is the Indian army’s HQ in Delhi.

If America has a right to bomb using drones, people in Waziristan area, thousands of miles away from Washington, then Pakistan has also the right to bombard those consulates. which are hands in glove with the insurgents, who kill on daily basis our soldiers, civilians, women and children.

Mr. Nawaz Sharif, hope you remember once our Air Force had the motto “QATAL MOOZI QABAL EEZA”

Now, I must repeat, enough is enough, our brothers, sisters and kids are are being murdered in dozens and dozens, on a daily basis.

We can not stop these attacks on churches, buses and military convoys, by just sitting idle.

If its a war, then let it be a war.

The IG FC has very clearly said these consulates are mongering mischief against Pakistan.

This war can not be won without going on an offensive.

We can no more sit like a duck and wait for the next attack from a suicide bomber or an IED supplied from across the border.

Either, the border should be completely sealed and mined, or you may issue necessary orders to our forces, to attack and annihilate the consulates established along our western borders in Afghanistan.

Or as a last resort, short of attack on consulates, all ground and air traffic to and fro from Afghanistan must be blocked, till such time Afghanistan guarantees that its territory will not be allowed to be used by any country, against Pakistan.

Mr. Nawaz Sharif, hope you know very well that Pakistan is in a state of war for the last more than a decade, its people are badly bruised and exhausted and that offence is the best defence.

Now for us its a do or die situation, thus, you must act because action is better than inaction.

My replies to the Indian PM on his latest Twitter Messages after 12 Indian security personnel were reported to have been killed today in an ongoing insurgency in Indian held Kashmir.

1. @PMOIndia: “This is one more in a series of provocations and barbaric actions by the enemies of peace.” http://t.co/BJ8wKK01wt

Reply:- @nayyarahmad: @PMOIndia exactly we had the same feelings when Church was bombed in Pakistan.

2. @PMOIndia: We are firmly resolved to combat and defeat the terrorist menace that continues to receive encouragement from across the border. -PM

Reply:- @nayyarahmad: @PMOIndia Sir, pl also comment on the role of Indian consulates in Afghanistan in Swat, Balouchistan insurgencies & suicide attacks in Pak.

3. @PMOIndia: Such attacks will not deter us or succeed in derailing our efforts to find a resolution to all problems through a process of dialogue. PM

Reply:- @nayyarahmad: @PMOIndia no doubt your this statement reflects that it has come from a statesman. Fully appreciated.

There is a debate going on in the Pakistani cricketing circles, that should Misbah ul Haq be retained as captain of the Test and ODI teams or not?

Firstly, it should be made clear to every player that if anyone is removed from the captaincy, it does not mean the end of his playing career. In the past we have seen that when legendary Sir. Ian Botham was removed from the captaincy of the England’s team, not only there was a big spur in the performance of Ian Botham, but in the entire English team, as well.

Generally, people appreciate the batting prowess of Misbah ul Haq. However, he is also being criticised for startlingly wrong team selections, unimaginative batting order decisions, defensive field placings, wrong bowling schemes and his own very slow start of the innings, even in the ODI matches. On an over all basis, now he is being labeled as a defensive captain.

In particular, MUH’s moves in South African tour dented his reputation very badly, when he unnecessarily called players from Pakistan, even before the start of the first Test match. Moreover, his media statements also even before the start of the series, confirmed that he had surrendered the series before the first ball was was bowled. One should never be over awed by the paper strength of the opposition. Going by the analogy of MUH, the Zimbabwe should have also surrendered before the start of the series against Pakistan. And now MUH has the guts to say that he was not a defensive captain. Yes, he is in fact, not worth even a defensive captain, which was a label affixed on Zaheer Abbas, as well.

Captains are sheer brain and cricket is played in the mind, just like a chess game. But in MUH’s case, we are at a loss to know that he is totally devoid of the common sense, which he amply exhibited in South African series, when everybody knew that Hafeez was bothering their batsmen with new ball, MUH made sure, he was not given the new ball, at many such moments. The whole of Pakistan knew how much Irfan bothered the SA batsmen on their pitches, but he was not selected to play the first Test match. We can easily write the details consuming reams of papers, about the common sense decisions not taken by MUH, in selection of players and during the currency of the games, specially during the South African series, champions trophy in England, West Indian and Zimbabwe tours.

Now the question is what is expected from a captain? Firstly, it should be remembered that in all the team games, the role of a captain in the game of cricket, is of the prime importance. A cricket captain is invested as is an American president, with a fanciful suite of powers and responsibilities, more than any one man can bear (Link:- http://www.smh.com.au/sport/cricket/clarke-versus-cook-ashes-a-defining-test-for-captains-20130710-2poxm.html) A good captain can make a poor team good and a good team great (link:-http://m.wikihow.com/Captain-a-Village-Cricket-Team) Here, we remember late AH Kardar, who had to lead a pack of Pakistani players, out of which 8-9 players were the worst fielders. But then, he always used his players in such a manner, that their weaknesses were least exposed to the opponents.

Captains in cricket have to have a brain to create victories, because victories are never offered by the opponents in a plate, rather it is carved out on the chess board of the cricket field.

It is the foremost job of the captain to always keep his team players so charged up, focused and motivated that victories are snatched from the jaws of the defeat; and not that defeats are snatched from the jaws of the victory; as happened with our team, twice in the recently concluded tour of Zimbabwe.

The captain is also required to do the following:

Know what you’ll do if you win the toss. Think about the conditions, the points system and the relative strength of your team. If in doubt then go with your teams strength, if you’ve lots of good bowlers then bowl first. If you all bat then bat first. Once you’re on top, you’ll probably win.

Attack in the field. Bowlers bowl better with attacking fields. Always attack the new batsman. If a batsman hits two similar shots into the same place then put a fielder there. Always have a plan – or look like you have one. Never keep the same field for two different batsmen. Be active!

Practise catching and throwing more than any other team at the nets and before a game. Catches really do win matches. No-one means to drop a catch so encourage everyone to go for everything and praise everyone for every genuine attempt. Keen fielding teams win most of their games.

Role Allocation. Give everyone a role in the side and make them feel important, then let them get on with it. Encourage everyone to express themselves – spinners to toss it up, pacemen to bowl fast, stroke makers to hit it and stone wallers to rotate the strike without getting out. (Link:- http://m.wikihow.com/Captain-a-Village-Cricket-Team).

In view of the foregoing and keeping under consideration of the long term interests of the Pakistani cricket, which has to plan for upto June-July 2017 Test matches championships and 2015 ODI World Cup, there is no doubt that at the best we have a 50:50 chance that Misbah ul Haq will be able to continue till the above named two important events. Therefore, we have no option except to appoint Younis khan as captain (with certain factors of fitness, age, experience, class and abilities in his favour more than any other cricketer in Pakistan) to give him a fair chance to rebuild the team for the next 3-5 years. Yes MUH must be retained to play as a seasoned batsman in team, as long as he is able to deliver.

India and Pakistan – Prisoners of the Past

Honourable Mian Muhammad Nawaz Sharif Sahab,

AoA.

The world knows very well that you are a man of peace, not just for the sake of peace, but you want to use peace, as a vehicle for eradicating ignorance, hunger, poverty and disease, which has become a fait accompli, for the millions and millions of poor, not only in Pakistan, but for the dwellers of the entire SAARC region.

In order to ensure that your message and vision is known to all and sundry, it is imperative that besides meeting the Indian PM in closed doors, for exchange of views in a typical diplomatic ambience, you should directly talk with India from the rostrum of the UNGA; and tell them absolutely clearly that:

-Let India and Pakistan decide once and for ever, to pledge not to be the prisoners of the past.

-Let both the countries decide to adopt the famous quote of L.M. Montgomery, which states that “Isn’t it nice to think that tomorrow is a new day with no mistakes in it yet?”

-If both the countries have to be friends, then that friendship must be in true sense; and we must not act and behave with each other, in a hypocritical manner.

-Also please assure the Indians that even if we wanted, we can not conquer India. At the same time, even if India wanted, it can’t pull down Pakistan, without India being destroyed, as well. So why to waste time in imaginary hate policies? Let both the nations be friends in true sense, like all the European countries.

-Let India show magnanimity as the largest country in the region; and not expect from Pakistan to stretch beyond its capacity, to match the Indian gestures of goodwill.

-Let India support Pakistan in its fight against the terrorists, by closing about a dozen consulates established along Pak-Afghan border, inside Afghanistan. This will also prove Indian intentions and desire, towards authentic peace with Pakistan.

-Let both the nations have a genuine peace. Let India remove all its strike forces from our borders, without any fear.

-Let both India and Pakistan decide immediately to withdraw troops for the Siachin area. Let both the countries take some big confidence building measures. Let India remove all non-tariff barriers against Pakistani imports in India.

-Let both the nations join hands to wage a war against poverty, hunger, disease and illiteracy.

-Let us turn this subcontinent into a bastion of peace and a heaven on earth. India and Pakistan just need a period of single decade of genuine peace, to turn around its fortunes and to emerge as the most potent economic and cultural power house of the world. The only condition is genuine and authentic peace, like the one which exists in between the EU countries.

-India and Pakistan should not be afraid of the problems, because they will remain for ever, but we have to give priority to peace over the problems. We have to increase spendings manifold in the areas of education, health and social sectors.

-Failure in promoting genuine peace between the two countries is not an option; rather both the countries can not sustain for long, under the policy of low intensity hostilities, or no war no peace situation.

Wishing you Mr. Prime Minister, best of luck in your endeavours to make this region a bastion of peace.

Kind regards.

Syed Nayyar Uddin Ahmad

In any crime investigations, the first logical step is to find the beneficiary of that criminal act.

Here, in Pakistan we have observed a pattern, which reveals that either, the terrorists have been targeting the GHQ, Naval and Air Force bases or indulging in specific targeted attacks on Sri Lankan cricketers, Chinese, foreigners and Pakistani minorities.

All these operations are carried out (at specifically chosen vital timings) not only to inflict maximum men and material losses, but also to undermine Pakistan’s military power; and create isolation in foreign policy, sports and tourism etc.

We should not be so naive to indefinitely close our eyes and ignore the role of huge number of Indian consulates, specially based near the Pakistan’s western borders with Afghanistan. In fact, the terrorism in Karachi and the insurgencies of Swat and Balouchistan are a clear testimony of the Indian evil designs, being perpetrated through these consulates in Afghanistan.

However, Pakistan must rest assured that this Indian game plan, specifically designed to keep Pakistan burning for an indefinite period, will never cease, till such time we repay the Indians in the same coins, by devising an strategy to fight fire with fire.

As such, it is high time that Pakistan officially warn India to immediately pack up all its consulates in Afghanistan, failing which Pakistan should also immediately take steps to establish its own consulates, in the border areas of all those countries, which share a common border with India e.g., China, Nepal, Bangladesh, Myanmar and SriLanka etc.

PAKISTAN PAINDABAD.