Its like taking a loan and blowing it all up on hookers and cocaine and later complaining about the bank being responsible for your miseriesI personally blame the Martians.
Whowuddathunk that accepting responsibility squarely where it lies is the first step to rectifying the problem?! If we blame others, we don't have to solve anything. Brilliant!
NOTE: This article includes suggestions about dealing in interest bearing instruments. Interest is Haram in Islam and the author abides by this Islamic teaching. Unfortunately, a discussion on the problems of Pakistan's interest based economy necessarily needs to include interest based solutions. The discussion on how to convert the economy to a non-interest one is out of the scope of this article, and beyond the capabilities of this author. More knowledgeable people and actual religious scholars are encouraged to inform everyone on this very important topic.
I have on many occasions criticized the Bajwa-Khan duopoly that has ensnared Pakistan within its heinous tentacles. I have maintained that this regime is taking Pakistan towards complete Western takeover and eventual secession into multiple independent countries. One important component of this heinous crime is financial subjugation of Pakistan. I feel the BKT (Bajwa-Khan Traitorship) has shown its true nature by perpetrating terrorist policies, and the time is now ripe to bare these policies in front of Pakistan.
First let us review the high level roadmap of BKT's malicious plan:
1. Circa April 2019 - Imran Khan accepts the existence of terrorists in Pakistan during visit to Iran, thus going against Gen Raheel's policy to deny the existence of terrorists within Pakistan. https://www.dawn.com/news/1477837
2. Circa May 2019 - Influence China to stop blocking the declaration of Maulana Masood Azhar as a global terrorist. https://www.thenews.com.pk/print/465278-un-to-declare-masood-azhar-a-global-terrorist-today
3. Circa June 2019 - Pakistan is put into the FATF gray list. https://www.dawn.com/news/1418143
So far, everyone can understand the anti-Pakistan machinations of these traitors. In this article, we shall discuss at length the more obscure parts of this plan:
4. Circa June 2019 - Pakistan agrees to IMF conditions that go against its national interests. The relevant program can be accessed here: https://www.imf.org/en/Publications...he-Extended-Fund-Facility-Press-Release-47092
5. Under the IMF program, a huge focus is given to increasing government revenue through tax collection. This has been a multi-year odyssey of the PTI government.
6. Under the IMF program, key financial positions are given to IMF agents. The Governor State Bank Raza Baqir, FBR Chairman Shabbar Zaidi, and Adviser later to be Finance Minister Hafeez Shaikh have all served in IMF or World Bank.
7. A superfluous strengthening of the Rupee is seen which is followed by a sudden drop.
8. A superfluous improvement in Current Account Deficit is seen which is followed by a sharp increase.
9. The agenda of privatizing key government entities is pushed.
10. No attention to flight/loss of capital in the name of 'exports'.
All the while, no one amongst Pakistan's intelligentsia and political elite has the motivation or capability to speak truthfully about the country's troubles and how to fix them. This gives a free hand to BKT to shamelessly tout their treason as economic growth and improvement.
In what follows, I will first explain the real problem being faced by Pakistan, and the actual solutions needed to fix them. It will be abundantly clear how BKT's policies amount to financial terrorism.
Dollars - Pakistan's biggest problem
Pakistan's biggest problem today is the dollar denominated debt that needs to be paid to the tune of approximately 10 billion dollars every year. Any sensible person would argue that Pakistan needs to generate dollars to pay back this debt. Instead, under IMF dictation, the sole focus is on revenue collection in Rupees. These need to be converted into dollars, thus weakening the rupee even further just by paying back debt. The practical outcome of this insidious policy is the strengthening of PKR when debt was temporarily suspended due to COVID. As soon as the COVID crises ended, the PKR lost that strength. This is exactly the IMF plan to keep a country forever indebted: by focusing on revenue collection in the vernacular currency, subjecting the country to exchange rate shocks when it is converted into dollars on the international market.
Instead of highlighting this fundamental problem and discussing solutions for it, BKT has built and controlled a false narrative around CAD (Current Account Deficit) and revenue generation.
So this is Pakistan's question to BKT terrorists: why are you forwarding IMF's agenda to keep Pakistan under ever increasing debt?
Earning dollars - The fix for Pakistan's problems
Let us discuss the means through which Government of Pakistan can earn dollars.
Holding US Treasuries
Economically powerful nations keep a part of their dollar reserves in the form of US Treasuries. Japan and China are two of the biggest holders of such bonds. The key benefit of holding T-Bills is that they are interest bearing. Instead of money sitting idle in the reserve, treasures generate more dollars, albeit the inflation adjusted outcome my still be negative. A sound economic policy must include treasuries within the reserve basket.
Investment through Sovereign Wealth Fund
The IMF supports the formation of 'Sovereign Wealth Fund' and has done a lot of work in the recent past to define acceptable practices around the management of such funds. This is one case where at least some Pakistanis have tried activism to raise awareness. Googling for 'Pakistan Sovereign Wealth Fund' brings up the page for an advocacy group that aims to free Pakistan from its current financial shackles. But under BKT leadership, no work has been done on this very important front.
The management of an SWF cannot be left simply in the hands of foreign managers. Pakistan needs professionals of highest caliber, who are also patriotic Pakistanis, to manage such a fund. But again, we find complete absence of policy and direction from BKT in creating the required human resource for this.
Careful investment by an SWF can be a powerful tool to earn dollars that can be used to pay off Pakistan's debts. The complete absence of Treasuries and SWF from BKT's economic plan shows either incompetence or subversion. In either case, this presents an extremely poor picture of BKT's three year tenure.
Government enterprises for exporting goods and services
This is a sordid chapter of BKT's reign. Imran Khan seems take an almost fetishistic interest in selling off PIA and Steel Mills. Thankfully, there is a PAF general heading PIA which has been the saving grace. Otherwise, Imran Khan's own minister has gone out of his way to ensure the demise of the national carrier:
Pakistani pilots grounded over 'fake licences'
Pakistan's aviation minister said a large number of pilots cheated in exams or have fake qualifications.www.bbc.com
The saga of the licenses of Pakistani pilots was a direct attack on Pakistan's economic well-being. Most people have been fed the propaganda of state run enterprises being inefficient. Be that as it may, there is nothing to suggest that state owned enterprises should also be inefficient. Unfortunately, in an environment of misgovernance, the past experiment with a German CEO has not borne any fruit. But this is misgovernance. PIA can earn valuable foreign exchange for the government if managed properly. And given its potential and the state of Pakistan's economy, this should have been one of the highest priority projects.
Similarly for Steel Mills. Export of high quality steel or finished products can become a big source of dollars, but again the enemies of Pakistan are making every single effort to make sure that dollar revenues are denied to Government of Pakistan.
The current crisis is the perfect case for creating government owned enterprises that lead to both domestic job creation and exports earnings. Why is no attention being paid to this important aspect? And why is BKT taking a completely 180 degrees approach?
Dollar denominated excise and customs
Yet another source of dollars can be duties and taxes on imports that are denominated in dollars. This author does not have the necessary data regarding dollarization of the tax regime, but had this been implemented properly, we would see a generous revenue stream.
A regime focused on destruction
The reader should now have a fairly good idea of what good economic management would look like. Which immediately shows BKT's economic management as not just disastrous, but outright anti-Pakistan. Let us now discuss another false narrative - rising exports.
It is true that Pakistani exports are doing much better than before. But what is not being discussed is the loss of revenue. This is how the export model of many Pakistani companies is structured. They have sister companies in Western countries that finalize business deals. These sister companies then proceed to buy goods and services at cost from their local operations and sell them at a profit. Pakistan only receives the cost in dollars whereas the real profit is kept overseas. This author is not aware of any studies into the size of this revenue loss, but just this component can easily run into billions of dollars.
Similarly, Foreign Direct Investment, or FDI is pushed as a silver bullet, especially by IMF. But FDI can be a double edged sword. Without proper government oversight, FDI can lead to dollar outflows. It is for this reason that well managed countries have mechanisms for deep government oversight. Take a look at how the Australian government reviews foreign investment:
Foreign investment | Treasury.gov.au
Australia’s foreign investment review framework strikes a balance between facilitating investment and protecting Australia’s national interest.treasury.gov.au
Conclusion
It should be abundantly clear to the reader that the Bajwa-Khan Traitorship has been installed by the enemies of Pakistan to further their agenda of economic and financial terrorism. Until and unless this nation learns to take its leaders to task and make them pay for their crimes, Pakistan will remain a joke in the eyes of the world. The common man will continue to suffer under exorbitant prices and lack of services. When will Pakistan wake up and rise?
Here is my full rebuttal to the claims you have made which you call undeniable proof.
You claim that PMIK and COAS want a complete Western takeover and break up of the country, but bringing back the country from a near bankruptcy from the time of taking over the office and towards economic stability it contradicts your statement.
First of all you have twisted the words. He didn’t accept the existence of terrorists in Pakistan, he accepted that in the past terrorists had indeed use Pakistani soil to hurt Iran. The quote from the article that you shared
“Prime Minister Imran Khan on Monday took an unprecedented, albeit bold, step to infuse much-needed trust into the bilateral relationship with Iran by publicly acknowledging that terrorists had in the past misused Pakistani territory to undertake attacks against Iran.”
So what did PMIK say wrong here? it’s a fact that terrorists have used Pakistani soil to attack Iran. Also I can’t find anything to say that Gen Raheel ever denying the existence of terrorists in Pakistan, I think you just made that up yourself. infact Gen Raheel was the one who started the war against the terrorists in Pakistan even during Raheel Sharif’s term Pakistan acknowledged the arrest of Salam Rigi.
“On Saturday, Pakistani sources told the country’s media that authorities in Southwestern Pakistan had arrested the ringleader of Jaish al-Adl terrorist group as he was travelling on a bus from the border area.”
https://tribune.com.pk/story/848585/captured-in-pakistan-iran-seeks-custody-of-fugitive-rigi
So I just negated your “undeniable proof”.
How does declaring Azhar a terrorist assist in “taking Pakistan towards complete Western takeover and eventual secession into multiple independent countries.”?
Snippet from the article you shared
“The United Nations is all set to declare Maulana Masood Azhar a global terrorist today after a green signal by Pakistan and China. It also comes after the ‘1267 sanctions committee’ of the UN deleted Masood’s linkage with the Pulwama incident and the unrest in the Indian Occupied Kashmir as propagated by India.
“Pakistan’s primary objection to Masood’s listing was that he had no link to the Pulwama attack or the ongoing freedom movement in the Indian Occupied Kashmir, asserting that it is an indigenous freedom struggle resisting Indian occupation and that Pakistan would continue with its ‘moral, political and diplomatic’ support to the oppressed people of Kashmir.”
Basically Pakistan objected linking Azhar to Pulwama on India’s request. Once that was removed Pakistan let them brand him as a global terrorist. I see a win for Pakistan here as India was denied linking him to Pulwama.
Also if I remember right wasn’t it PMIK and Bajwa duo that replied to India’s dropping of bombs in Balakot with full force of the PAF. I don’t think a traitor whos agenda is the breakup of the country will fightback the enemy aggression like they did on 27th Feb 2019. Compare it with the response of an actual traitor NS for the shooting down of PN’s Atlantique by IAF on 10th Aug 1999.
So that also negates your undeniable proof of treason.
I already responded to this one previously however I will just say it again that the article you provided as “undeniable proof” itself states and I quote
“This is not the first time Pakistan has found itself on one of FATF’s list of not-so-good guys; the country was there in 2008 and from 2012 to 2015.”
Also the current grey-listing of Pakistan was decided in Feb 2018, not in June 2019 which you are trying to portray
Quote from the article
“But FATF again put Pakistan back on the grey list in 2018. In June 2018, Pakistan was placed on a watch list of countries for persistently inadequate controls to deter terror financing and money-laundering. The decision to place Pakistan on the list was taken in February 2018 following a US-sponsored move supported by the UK, France and Germany.”
https://tribune.com.pk/story/2286167/fatf-grey-listing-caused-38b-losses
So even this “undeniable proof” is false.
So is going to IMF a treason? If so Pakistan has taken 22 loans from IMF, so how is it that this time its treason but all the previous times it was a sound economic decision?
“22 loans in 61 years: Pakistan’s unwavering habit of going to the IMF”
https://tribune.com.pk/article/8186...akistans-unwavering-habit-of-going-to-the-imf
Also you have failed to provide what conditions were agreed on which were against the national interest.
So again your “undeniable proof” has no legs to stand on
How do you even consider this as proof of treason? No numbers, no data, it feels like you wanted to fill some blank space. It actually negates the previous point where you claimed that IMF program was against national interest.
However lets look at the snapshot of revenue collected over the years and its pretty self-explanatory.
https://tradingeconomics.com/pakistan/government-revenues
And also let me add that the excluding yourself majority of overseas Pakistani have a lot more trust and faith on PMIK than previous leaders and it shows in the amount of remittances that they are sending back even with the ongoing global covid situation.
https://tradingeconomics.com/pakistan/remittances
So your claimed traitors are actually collecting more money and overseas Pakistanis are sending more to Pakistan which is benefitting the country, amazing traitors these guys are don’t you think?
Where is your “undeniable proof” of them being IMF agents? Or of any actions they have conducted that harmed the country?
Reza Baqir has a PhD in economics, yes he has worked for IMF but that doesn’t make him an agent
Shabbar Zaidi is a Charted Accountant and has never even worked for IMF.
Hafeez Shaikh also has a doctorate in economics and also never been with IMF.
Previously we had the absconder Dar as the Finance Minister who was actually caught by IMF for fudging data. We had Hussain Haqqani the Ambassador to US who along with his wife consistently dole out anti-Pakistan articles. We Qamar Zaman Chaudhry who was the Chairman of NAB and blatantly refused to do his job. Now if I wanted to break up the country then these are the types of people I would hire.
Its floating exchange rate so ups and downs are bound to happen, the government has no hand in deciding the rate. If it did it would be a fixed exchange rate as what the absconder Dar had and we are still reeling from that mess.
Here is the latest on the Pakistani current account, and as you can see its still a lot better than when they inherited the government.
https://tradingeconomics.com/pakistan/current-account
Nothing wrong with privatization, ever since the nationalization blunder by ZAB, every Pakistani government has been trying to privatize.
With no figures or explanation, these have to be the best undeniable proof that I have come across. Looks more like you just wanted to make double figure points or by filling up space you wanted to make people believe that you have done through research.
This section of your post its clearly evident that your economic intellect is ZERO. Now I am not going to waste my time trying to educate you. I will however explain briefly that the revenue collection in rupees is for the day to day running of the country. $$$ are mainly for imports. Pakistan has been going to IMF because we don’t have enough money to run the country.
The rebuttal for this is very simple, with which reserves did you want PMIK to be hold these T-Bills? When PMIK took office, the reserves in Pakistan were for less than 3 months of Import.
Wait, did you just support IMF? After all your rants, reading this makes you look like a complete hypocrite.
As for SWF, here is he definition of Sovereign Wealth Fund.
As I said before Pakistan doesn’t have any surplus reserves. Also SWF delivers results in the long run, not when the country needs urgent fixes.
Again no figures, no data, no history, just rants and more rants, looks more like the author himself has a fetishistic interest in PMIK.
Just simple questions that will refute this part of your post
The answer to these questions will point you to who are the actual economic hitmen
- When was the last time PIA made a profit?
- Should PMIK let the pilots with fake licenses keep flying?
- When was the last time Steel Mill made a profit?
This is hilarious, admits he has no information but still thinks that it will work. Anyway why stop here, why not start collecting tax in $$$.
Actually NO, the author has failed to provide any stats or figures or comparison in support of his claims. He has conjured delusions only. Basically saying exports and FDI are bad, increasing revenue is bad, privatizing loss making entities is bad, going to IMF is bad but holding US treasury bills and Sovereign Wealth Fund is good. All this proves that the author's claim of "undeniable proof" was just a figment of his imagination and nothing more.
Pakistan will rise after it removes people like the author from the posts that they got without merit.
Hope you practice what you preach.
I personally blame the Martians.
Whowuddathunk that accepting responsibility squarely where it lies is the first step to rectifying the problem?! If we blame others, we don't have to solve anything. Brilliant!
www.fatf-gafi.org
A former World Bank employee told me this: countries like Pakistan and Venezuela are bank rolling the IMF. You owe more than 100 billion dollars to the IMF and its cronies and they want that money back. It doesn't serve their purpose to create another Libya. It serves their purpose to create an acceptably functional society which can keep paying them interest. While pressurizing you through this financial tool, the West will support other initiatives for the eventual break up. Which is why OP says One important component of this heinous crime is financial subjugation of Pakistan. Why are you turning a blind eye to Bilawal's recent visit to Washington? PTM? BLA? What is BKT doing about all of this? They are facilitating them fully and completely. This thread was to highlight the financial component of this strategy and it depends on the awareness of Pakistanis to supply the missing link. Looks like it is too much to ask from Pakistanis?
The article is simply trying to lower the impact of Imran Khan's real statement. Here, watch from 22:05
Now immediately before that statement, he tries to explain how Pakistan itself suffers from terrorism etc, but this statement in the run up to FATF grey listing is smoking gun proof of his culpability. Take a look at what Hina Rabbani Khar has to say. Do I need to remind you that she has served as Foreign Minister of Pakistan?
'This is not funny anymore': PM Imran's statement in Iran comes under intense opposition attack
Minister says PM's acknowledgement that Pakistani soil had been used against Iran in the past was quoted out of context.www.dawn.com
Dawn has tried to downplay Imran Khan's words. But thank you for helping me inform the whole world just how criminal his words actually were. Now negate this 'undeniable proof'.
When you open your mouth on a subject, try to have some background information on it. Because the matter of Maulana Masood Azhar as global terrorist is not an outcome of the Pulwama attack. At that point, China had blocked multiple attempts by the West to declare him a global terrorist. De-linking his name from the Pulwama attack is exactly the same kind of small, trivial win that gives stooges like yourself a sense of self-importance and accomplishment. Get out of your limited view and look at the larger picture. Your traitor leaders helped the enemy in declaring the someone inside Pakistan is a global terrorist - a threat to nations globally. And since then, Maulana Masood Azhar is the centerpiece of Indian vitriol against Pakistan. This Indian agent is a facilitator of diatribe against Pakistan.
Go read this entire thread to see how SR is a sordid saga of BKT working against Pakistan's vested interests
Contextualizing Swift Retort: Surprise within, shock without
Much ink has been split to retrace the events leading up to and following Swift Retort (SR). So far, all such efforts portray SR as a knee jerk response to Indian aggression following the Pulwama attack. In this article, I would like to contextualize SR in the larger sequence of events. This...defence.pk
Read here:
Financial terrorism committed by the Govt-Military duos
You are showing your utter cluelessness here. Because consumption led growth fuelled by debt IS capitalism itself. Developing countries do NOT run such huge deficits they prioritize export led growth...defence.pk
And now you have descended down to outright prevarication. This is what the article actually says
The word put, which I have emboldened, leads to the IMF website which is dated 29 June, 2018. On that date, this is what IMF has to say
Documents - Financial Action Task Force (FATF)
In June 2018, Pakistan agreed to implement a set of reforms. It had NOT been put into the grey list. You have dishonestly used an incorrect excerpt from Tribune in an attempt to portray OP as self-contradictory. This only lessens your own credibility.
If you have been reading the link I have been posting, you can see how this is just a comprehension issue on your part.
As good puppets of their masters, they are raising the money needed to pay back debt. And what OP is telling you is that you will continue to pay debt forever if you keep following these traitors blindly. What you are showing is a comprehension problem and that you have either not read OP at all, or haven't understood it at all.
Thank you for giving us a history lesson on traitors of Pakistan. But since I am focused on the present, take a look at what these 'highly qualified' people tried to do.
Shabbar Zaidi - Tried to drown Pakistan in a sea of documentation by requiring ID cards for Rs 50000/- transactions and above. Here, take a look at what bureaucratic hellhole looks like
The hell of Russian bureaucracy | Russia | The Guardian
Hafeez Shaikh - Tried to put State Bank under IMF's control. I spoke out about it in the past
Pakistan central bank will no longer finance government deficit
Imran Khan cannot play cricket Imran Khan cannot win the world cup Imran Khan cannot make free cancer hospital Imran Khan cannot do politics Imran Khan cannot become PM Imran Khan cannot fix Pakistan Non-stop hate and bughaz for Imran Khan goes on and yet he keeps winning, defying all haters and...defence.pk
The problem with our so called 'educated Pakistanis' is that education hasn't really opened their minds and they don't think for themselves. They get easily impressed by World Bank and IMF qualifications. Which goes in favor of our enemies.
Right, please learn some economics and then come back to discuss. An unstable exchange rate is a threat to business and Pakistan's foreign trade. Instead of paying attention to what OP is saying, you are trying to trivialize exchange rate shock to the economy. You are wasting my time.
Wisdom is lost upon thick headed fools. If this is your response to OP, then you deserve to remain a slave forever.
Tell us the mechanism through which Pakistan raises money to pay back debt. It will become evident what is going on.
You moron, I am listing all the ways in which dollars can be raised and what good economic policy looks like. The reserves today stand at around 20 billion, where is Imran Khan's economic management? His sole focus is on raising taxes.
Comprehension problem. Work on it, maybe even seek help for it.
Or maybe you are trying to grasp on straws to find any opportunity you can to spew sh*t.
Like a good mental slave, you look at the status quo and find it too hard to change anything. So you capitulate and just give up to let others do the job for you. What you have written above is intellectual laziness.
OP is an article, not a book. It relies on the intelligence of readers to make connections and supply missing parts. But when the reader is a fool... well I need to educate fools. We could talk about how to make these institutions profitable, but then what use is your lazy Prime Minister and his team? What is their plan to generate more dollars? Asking overseas Pakistanis to open Roshan Digital Accounts? What a joke! Ill informed morons are the only people impressed by this mismanagement.
This is just childish ranting. I could have a meaningful discussion if you showed maturity. Your response is to take my words and spew vitriolic nonsense. That does not constitute refutation, it does show your idiocy. You are a good case study in mental slavery. Don't think for yourself, and when someone tries to engage your brain just babble nonsense at them. Each of the points I have made in OP can have an entire thread dedicated to it. How unfortunate I have to deal with laughing yahoos here.
you forgot all other forms of interest (which is not even equal to the loss in the value of the original capital) are haraam/forbidden/verboten/mamnooh except from holding US treasury bills and Sovereign Wealth Fund.
was going to delete the thread ...but allowed it to run ....NOTE: This article includes suggestions about dealing in interest bearing instruments. Interest is Haram in Islam and the author abides by this Islamic teaching. Unfortunately, a discussion on the problems of Pakistan's interest based economy necessarily needs to include interest based solutions. The discussion on how to convert the economy to a non-interest one is out of the scope of this article, and beyond the capabilities of this author. More knowledgeable people and actual religious scholars are encouraged to inform everyone on this very important topic.
I have on many occasions criticized the Bajwa-Khan duopoly that has ensnared Pakistan within its heinous tentacles. I have maintained that this regime is taking Pakistan towards complete Western takeover and eventual secession into multiple independent countries. One important component of this heinous crime is financial subjugation of Pakistan. I feel the BKT (Bajwa-Khan Traitorship) has shown its true nature by perpetrating terrorist policies, and the time is now ripe to bare these policies in front of Pakistan.
First let us review the high level roadmap of BKT's malicious plan:
1. Circa April 2019 - Imran Khan accepts the existence of terrorists in Pakistan during visit to Iran, thus going against Gen Raheel's policy to deny the existence of terrorists within Pakistan. https://www.dawn.com/news/1477837
2. Circa May 2019 - Influence China to stop blocking the declaration of Maulana Masood Azhar as a global terrorist. https://www.thenews.com.pk/print/465278-un-to-declare-masood-azhar-a-global-terrorist-today
3. Circa June 2019 - Pakistan is put into the FATF gray list. https://www.dawn.com/news/1418143
So far, everyone can understand the anti-Pakistan machinations of these traitors. In this article, we shall discuss at length the more obscure parts of this plan:
4. Circa June 2019 - Pakistan agrees to IMF conditions that go against its national interests. The relevant program can be accessed here: https://www.imf.org/en/Publications...he-Extended-Fund-Facility-Press-Release-47092
5. Under the IMF program, a huge focus is given to increasing government revenue through tax collection. This has been a multi-year odyssey of the PTI government.
6. Under the IMF program, key financial positions are given to IMF agents. The Governor State Bank Raza Baqir, FBR Chairman Shabbar Zaidi, and Adviser later to be Finance Minister Hafeez Shaikh have all served in IMF or World Bank.
7. A superfluous strengthening of the Rupee is seen which is followed by a sudden drop.
8. A superfluous improvement in Current Account Deficit is seen which is followed by a sharp increase.
9. The agenda of privatizing key government entities is pushed.
10. No attention to flight/loss of capital in the name of 'exports'.
All the while, no one amongst Pakistan's intelligentsia and political elite has the motivation or capability to speak truthfully about the country's troubles and how to fix them. This gives a free hand to BKT to shamelessly tout their treason as economic growth and improvement.
In what follows, I will first explain the real problem being faced by Pakistan, and the actual solutions needed to fix them. It will be abundantly clear how BKT's policies amount to financial terrorism.
Dollars - Pakistan's biggest problem
Pakistan's biggest problem today is the dollar denominated debt that needs to be paid to the tune of approximately 10 billion dollars every year. Any sensible person would argue that Pakistan needs to generate dollars to pay back this debt. Instead, under IMF dictation, the sole focus is on revenue collection in Rupees. These need to be converted into dollars, thus weakening the rupee even further just by paying back debt. The practical outcome of this insidious policy is the strengthening of PKR when debt was temporarily suspended due to COVID. As soon as the COVID crises ended, the PKR lost that strength. This is exactly the IMF plan to keep a country forever indebted: by focusing on revenue collection in the vernacular currency, subjecting the country to exchange rate shocks when it is converted into dollars on the international market.
Instead of highlighting this fundamental problem and discussing solutions for it, BKT has built and controlled a false narrative around CAD (Current Account Deficit) and revenue generation.
So this is Pakistan's question to BKT terrorists: why are you forwarding IMF's agenda to keep Pakistan under ever increasing debt?
Earning dollars - The fix for Pakistan's problems
Let us discuss the means through which Government of Pakistan can earn dollars.
Holding US Treasuries
Economically powerful nations keep a part of their dollar reserves in the form of US Treasuries. Japan and China are two of the biggest holders of such bonds. The key benefit of holding T-Bills is that they are interest bearing. Instead of money sitting idle in the reserve, treasures generate more dollars, albeit the inflation adjusted outcome my still be negative. A sound economic policy must include treasuries within the reserve basket.
Investment through Sovereign Wealth Fund
The IMF supports the formation of 'Sovereign Wealth Fund' and has done a lot of work in the recent past to define acceptable practices around the management of such funds. This is one case where at least some Pakistanis have tried activism to raise awareness. Googling for 'Pakistan Sovereign Wealth Fund' brings up the page for an advocacy group that aims to free Pakistan from its current financial shackles. But under BKT leadership, no work has been done on this very important front.
The management of an SWF cannot be left simply in the hands of foreign managers. Pakistan needs professionals of highest caliber, who are also patriotic Pakistanis, to manage such a fund. But again, we find complete absence of policy and direction from BKT in creating the required human resource for this.
Careful investment by an SWF can be a powerful tool to earn dollars that can be used to pay off Pakistan's debts. The complete absence of Treasuries and SWF from BKT's economic plan shows either incompetence or subversion. In either case, this presents an extremely poor picture of BKT's three year tenure.
Government enterprises for exporting goods and services
This is a sordid chapter of BKT's reign. Imran Khan seems take an almost fetishistic interest in selling off PIA and Steel Mills. Thankfully, there is a PAF general heading PIA which has been the saving grace. Otherwise, Imran Khan's own minister has gone out of his way to ensure the demise of the national carrier:
Pakistani pilots grounded over 'fake licences'
Pakistan's aviation minister said a large number of pilots cheated in exams or have fake qualifications.
The saga of the licenses of Pakistani pilots was a direct attack on Pakistan's economic well-being. Most people have been fed the propaganda of state run enterprises being inefficient. Be that as it may, there is nothing to suggest that state owned enterprises should also be inefficient. Unfortunately, in an environment of misgovernance, the past experiment with a German CEO has not borne any fruit. But this is misgovernance. PIA can earn valuable foreign exchange for the government if managed properly. And given its potential and the state of Pakistan's economy, this should have been one of the highest priority projects.
Similarly for Steel Mills. Export of high quality steel or finished products can become a big source of dollars, but again the enemies of Pakistan are making every single effort to make sure that dollar revenues are denied to Government of Pakistan.
The current crisis is the perfect case for creating government owned enterprises that lead to both domestic job creation and exports earnings. Why is no attention being paid to this important aspect? And why is BKT taking a completely 180 degrees approach?
Dollar denominated excise and customs
Yet another source of dollars can be duties and taxes on imports that are denominated in dollars. This author does not have the necessary data regarding dollarization of the tax regime, but had this been implemented properly, we would see a generous revenue stream.
A regime focused on destruction
The reader should now have a fairly good idea of what good economic management would look like. Which immediately shows BKT's economic management as not just disastrous, but outright anti-Pakistan. Let us now discuss another false narrative - rising exports.
It is true that Pakistani exports are doing much better than before. But what is not being discussed is the loss of revenue. This is how the export model of many Pakistani companies is structured. They have sister companies in Western countries that finalize business deals. These sister companies then proceed to buy goods and services at cost from their local operations and sell them at a profit. Pakistan only receives the cost in dollars whereas the real profit is kept overseas. This author is not aware of any studies into the size of this revenue loss, but just this component can easily run into billions of dollars.
Similarly, Foreign Direct Investment, or FDI is pushed as a silver bullet, especially by IMF. But FDI can be a double edged sword. Without proper government oversight, FDI can lead to dollar outflows. It is for this reason that well managed countries have mechanisms for deep government oversight. Take a look at how the Australian government reviews foreign investment:
Foreign investment | Treasury.gov.au
Australia’s foreign investment review framework strikes a balance between facilitating investment and protecting Australia’s national interest.
Conclusion
It should be abundantly clear to the reader that the Bajwa-Khan Traitorship has been installed by the enemies of Pakistan to further their agenda of economic and financial terrorism. Until and unless this nation learns to take its leaders to task and make them pay for their crimes, Pakistan will remain a joke in the eyes of the world. The common man will continue to suffer under exorbitant prices and lack of services. When will Pakistan wake up and rise?
How is promoting peace directly responsible for your conclusion that those are facts. Those are not facts, the temperature reading outside from a certified thermometer can be facts, people dying lf hunger in a third world country documented by multiple witnesses and photographs could be facts - however, your assertion that a messaging for peace overture which even the Quaid proposed prior to partition and then linking APS, 71 (lets link 1857 as well then!) is traitorous is ridiculous.Let's see. This country has already been divided once - fact. It was divided by the actions of they very top most leaders - fact. Riff raff from the East regularly reminisce on their role in that breakup and dream about a similar success - fact. Given this, we need to be extremely alert - quite logical. Now here is the thing - the average citizen doesn't sit in GHQ or PM's secretariat. Please give us complete and unrestricted access and we will talk hard facts. Since this won't happen, it is the responsibility of every citizen to examine the facts available and hold leaders accountable.
Having found nothing else to fault in what I am saying, you are now using the age old strategy to attack the facts. Facts, that I have put in OP, facts that I have discussed in the thread. These facts are enough to make any patriotic Pakistani extremely uncomfortable.
Here is another uncomfortable fact for you. Your army chief is on record saying:
Bajwa seeks world’s help for peace with India
Army chief says it is time to bury the past and move forwardwww.dawn.com
Now let us collate this with another inconvenient fact. We were primed to support the fight against Taliban through the message that the Taliban are actually Hindus
And these Hindus are responsible for APS. So, this traitor Bajwa wants to forget APS, wants to forget the bomb blasts and killings done by Hindus and move forward?
Now please tell me that this fact does not show that Bajwa is a traitor of Pakistan who is in collusion with people wanting to do a repeat of 1971. I will save a picture of it for posterity.
You’re the one saying its a pudding, Im saying you see eggs in one room and milk in another city but are calling it a pudding - there is no onus to convince you but rather refuting what you are asserting.
