Dar’s delusion . A man destroyed Pakistan economy ( must must read)

[HAIDER]

Dar’s delusion​

Editorial Published September 3, 2023 Updated about 18 hours ago


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ISHAQ Dar lives in a world completely divorced from reality, a world where he can be a self-styled ‘saviour’. During a media talk in London, the former finance minister once again boasted of having rescued Pakistan from the verge of defaulting on its foreign debt payments.
As always, he conveniently skipped the part where he botched the previous IMF loan programme that his predecessor and party colleague had helped revive after significant fiscal adjustments and months of tough talks with the lender. Nor did he mention his own role in bringing the country to the brink of the default he now claims to have averted.
Indeed, Pakistan’s economy was not faring very well when PML-N leader Nawaz Sharif removed Miftah Ismail unceremoniously from the Q Block and dispatched Mr Dar to Islamabad to replace him. Yet, investor confidence had clearly started to improve on the revival of the loan deal with the IMF, and Pakistan was expecting to successfully complete the next programme review that would have paved the way for more official capital inflows and ameliorated its balance-of-payments position.



However, Mr Dar’s advent totally changed the scene, reversing whatever little progress had been made since the revival of the IMF loan facility. His preoccupation with manipulating the exchange rate for a stronger rupee, as well as controlling interest rates, sabotaged Pakistan’s relationship with the IMF.
No matter what he did later — for instance, imposing huge additional taxes on already taxed persons through a supplementary finance bill and devaluating the currency — he was unable to convince the IMF to complete the pending review and release the money.
The deepening economic crisis, characterised by entrenched inflation, steep rupee depreciation and rising costs of power and fuel that we have on our hands today is largely because of his obsession with a strong rupee and low interest rates, as well as his failure to cut the huge fiscal deficit by taxing the undertaxed and untaxed sectors.
He says his party has paid a heavy political price to avert a sovereign default. What about the unimaginable price the majority of Pakistanis are forced to pay every day, and will continue to pay for the next several years because of his flawed policies and gimmickry? No wonder many don’t want him to return, at least not to Q Block.
Published in Dawn, September 3rd, 2023

 

[AZADPAKISTAN2009]

Well it is called

"Denial" , the man clearly has lost his marbles

1. Destroyed Pakistan before
2. Came back and claimed 5 year salary while he was away in UK hiding from court cases
3. Took up a high post again and destroyed Pakistan 2nd Time

When Excellence is finished in a country they keep appointing Metric Fail or Corrupt people over and over again for sensitive positions


The End result is financial turmoil


Most educated people of Pakistan are working for western countries now helping those companies make billions yearly


While in Pakistan all state assets are in hands of Retired-Unretired army Tola
Making Losses

 

[tman786]

Comments from house patwaris are welcome here

 

[AZADPAKISTAN2009]

What is astonishing is that in Pakistan a man like Dar , wanted criminal , can escape overseas
for 5 years

1- He is not removed from office
2- His salary is accumulated
3- He can come anytime , and collect lum sum salary for 5 years

I once came across a man in living abroad , he was working for Pakistan railways
Collecting salaries overseas but he himself was residing overseas for 2-3 years
He kept sending a letter to Pakistan Railways that he was overseas for purpose of study


Just like the bastard Dilawar Judge who put Imran Khan in jail , he also made a run away to UK for purpose of a courses

The plan is always safe go abroad for 3-5 years keep collecting salary being a federal employee and then if people forget you come back to country else you continue to live oversea collecting salary

 

[ghazi52]

While people of Pakistan suffering....Day and night,

The problem with household electricity consumption​

An increase in imports depreciates the rupee, making electricity more expensive and fueling inflation.

 

[HerbertPervert]

What is astonishing is that in Pakistan a man like Dar , wanted criminal , can escape overseas
for 5 years

1- He is not removed from office
2- His salary is accumulated
3- He can come anytime , and collect lum sum salary for 5 years

I once came across a man in living abroad , he was working for Pakistan railways
Collecting salaries overseas but he himself was residing overseas for 2-3 years
He kept sending a letter to Pakistan Railways that he was overseas for purpose of study


Just like the bastard Dilawar Judge who put Imran Khan in jail , he also made a run away to UK for purpose of a courses

The plan is always safe go abroad for 3-5 years keep collecting salary being a federal employee and then if people forget you come back to country else you continue to live oversea collecting salary

This is a societal problem. Too many people in Pakistan don't want to work hard so they look for easy ways to make money even if it's theft or bribes. That's one big reason why your exports are low, productivity is low

One of the reasons the US in its early history was economically strong was because the early immigrants from England, were Protestant Christians who strongly valued honest labor, or earning with one's own hands. So productivity was very high in the US and still is. Chinese people are very productive and can make a lot of sacrifices. Some couples leave their single child with grandparents in villages and travel to work at the city for a year, visiting during holidays.

I've heard of people here in motor vehicle administration taking bribes. These employees were from India & Pakistan whereas I've never heard of a white guy doing that. Too many people from there are corrupt and rotten to the core. It doesn't matter where you go.

@PakFactor

 

[HerbertPervert]

Not true

People from Pakistan do Pay full taxes
People of Pakistan do pay Donations to all good cause

Sure. Imran Khan was saying the same stuff about how charitable they are, etc. I'm sure his face turned pale when he saw total collected tax revenues.

Pakistan has one of the lowest collected tax revenues on the planet.

 

[AZADPAKISTAN2009]

Pakistan has been crumbling gradually since 1965


Army officers enjoying , lavish life style , since 1965 all the way to Present
They want to run all profitable businesses on side , while being in army because they have power

Police feels that it can ask for bribe when ever they feel like it
Or they can beat up shop keepers or other folks


Custom officers were also known to harass people at airport not letting them go , or stealing bags / goods of Pakistan people returning from Saudia


The judges as we can see , can be threatened or controlled by officers visiting them 1 on 1 and threatening them with their power and control of Army men or Police men


The Society

• The society is reflection of the leaders , when Army is corrupt and police is compromised the society is full of people who want to make $$$ by giving bribe in order to get ahead in queue and get their applications approved