Pakistan should refuse to pay foreign aid: Labour Relief Campaign

[sunny001]

LAHORE: Three prominent progressive organisations have urged the Pakistan Peoples Party-led government to refuse paying all foreign debt worth $54 billion as well as annual instalments of $3 billion, and divert the entire amount to relief and rehabilitation projects for the 20 million flood victims in the country.

Under the umbrella of the Labour Relief Campaign, representatives of the organisations Campaign for the Abolition of Third-World Debt, the Labour Party of Pakistan and the National Labour Federation, Abdul Khaliq Shah, Farooq Tariq and Niaz Ahmad respectively, addressed a press conference at the Lahore Press Club on Friday, pressuring international financial institutions and donor countries to repudiate Pakistan’s debt.

Abdul Khaliq Shah, a spokesman for the Campaign told journalists that Pakistan was currently paying about $3 billion in debt servicing every year, while the country’s current foreign debt worth $54 billion was also increasing day by day. As a result, he said, the debt-servicing ratio would also increase.

He said that Pakistan was facing the worst disaster in its 63-year history, with more than 20 million people having been badly affected and major infrastructure having been destroyed in many parts of the country by recent rains and continued floods.

Justified: He said that in such a situation, certain provisions of international law could be invoked as legal justifications for the refusal to pay external debt. One such justification, he said, is the ‘State of Necessity’, in which the economic or political survival of a country is jeopardised, and it becomes impossible to pay the debt and provide for the very basic needs of the population such as health, food, water and housing.

He said that since the state of Pakistan is now unable to fulfil the fundamental human needs of more than 20 million people, the government needs to show its political will and should refuse to pay its foreign debt.

Farooq Tariq of the Labour Party also announced a campaign to put pressure on the government to refuse to pay foreign debt. He said the campaign would hold rallies, long marches, seminars and door-to-door awareness drives in favour of its demands.

Source: Daily Times - Leading News Resource of Pakistan

 

[Nahraf]

These people have the right to speak and the government has the right to ignore them.

 

[sunny001]

I find this article very interesting. If Pakistan refuse to pay its external debt, can the country survive the trade barriers that will be placed on it after that. No FDI from then on for at least 50-60 years.

 

[sunny001]

These people have the right to speak and the government has the right to ignore them.

I know, I just wanted to see how many would support such a initiative.

 

[Dark Angel]

In simple words ...... Its suicide

 

[muse]

The PPP are never too far from theft, it's what they are about - just imagine taking loans and then defauting, if this this not theft, then what is it?


That such an idea comes from otherwise responsible people goes ot show the intellectual and moral bankruptcy of such people and ideas.

Instead of coming up with ideas to promote growth, to create greater economic and therefore political liberty, these "muft khor" have come up with yet another way to legitimize theft.

 

[Sonic_boom]

These people have the right to speak and the government has the right to ignore them.

 

[True_Pakistan_Zindabad]

.

Instead of coming up with ideas to promote growth, to create greater economic and therefore political liberty, these "muft khor" have come up with yet another way to legitimize theft.

Precisely. We are eating blowback from years and years of this "Muft" disease. Nobody wants to do their job properly, each is concerned about looting as much as possible before his junior takes over his position. There is a lot of money in begging, aid and "muft khor" syndrome to be made for thieves.

 

[Spring Onion]

And who knows these idiots who have forwarded such a suggestion

come on guys tomorrow if my cat suggests anything will you take it seriously after he is not PM or President

 

[Frankenstein]

They want it for themselves, PPP government will soon end, they just want to grab as much as they can

 

[muse]

Pakistan is trapped

Rubbish! Pakistan has tremendous economic potential - what it needs are these political losers to get out of the way of the busness community and to not impede it.

PPP historically has no value for private property (other than what it's leaders can "appropriate" for themselves) the problem in Pakistan has been that so called civilian politicians are very much impressed by every socialist or utopian economic idea they run across and they have tried to prevent not promote economic activity - that is they see their benefit in preventing economic activity.

Consider, what kind of political party does the PPP promotes itself as? ZAB a socialist, populist from a land owning family - nationalization, a ZAB/PPP idea - result? Capital flight, economic downturn, govt. mismanagement Bhutto family become Billionaires. Follwed yong attactive only woman premier of a Muslim majority country, with influential foreign fiends, and yet at home she just a feudal who married for political reasons to a crook who earns a repuation as Mr. 10% -- fast forward to the present - PPP takes over from a hybrid military/civilian governemtn that brough down poverty rates in 7 years - and now Pakistan is back whereit was 10 years ago -- notice each time civilian order comes to town, the politicians become richer, the countryh poorer and deeper in debt - the politicians then threaten the intl. community with default.

So this is the nature, the reality of "liberals" in Pakistan - just like they understand democracy in their own uniquely feudal and opportunitis manner, similarly their opportunism reflects their understanding of Liberal -- always without liberty, but with a greater chunk of public monies transfered into private (read PPP) hands.

 

[ameer219]

Pakistan is trapped,on one hand,its future with the debts payable is at risk and on the other,the present situation of its people.

When we lost the 1971 war,we thought we wouldnt make it, but we did.

When we faced Russia who threatened nuclear war during the Afghan war, we thought we wouldn'e make it, but we made it through.

We thought that when US placed an arms embargo over our controversial nuclear weapons programme, we thought we wouldn't make it through, but we created out orn arms industry, and did many joined projects with China

When the 2005 Kashmir Earthquake occurred,we thought that we would not make it but we did.

When Bhutto died and Zardari started taking the role of president, we thought we would not make it , but we did.

When the suicide bombings occur, and all the investors ran away, and our international reputation was down and that we wouldn't made it through, but we did..

What I am trying to say is that, if there is a will there is a way, and I urge all Pakistanis on this forum not to be pessimistic. Life is full of ups and downs, and we should always be ready for this. Insyallah we would all make through this

 

[Meengla]

The PPP are never too far from theft, it's what they are about - just imagine taking loans and then defauting, if this this not theft, then what is it?
.

A fringe labor group of not much importance and fame comes up with this idea and you accuse the largest political party of Pakistan of 'theft'?! Did this statement come from the PPP CEC? Gilani? Zardari?

You guys' hatred and illogical arguments when it comes to democracy in Pakistan and PPP rule can be funny. But it is getting too much to the point of mere trolling.

I think we should start a separate FORUM called 'Lets bash Zardari, democracy and PPP' where your 'energies' can be better focused and channeled.

If you guys cared so much about Pakistan then your attention would have been better focused toward the flood and water management instead of the 'shoe' incident. There is an obsession with Bilawal bordering on neurosis. A tiny percentage of parliamentarians have fake degrees and you guys accuse 'democracy' itself.

For your kind information, since 1977, Pakistan has been ruled by military for about 20 years directly. Even today the majority of Pakistan (Punjab) is ruled anti-PPP political party. So why is Pakistan is in such a bad shape then? Could it that the generals-turned-politicians were no good in governing Pakistan considering they ruled Pakistan for the most of the time since 1977?


By the way, wrong idea to not payback the debt, as pointed out by others.

 

[MilesTogo]

Aid money has better chance of reaching the flood affected areas.

 

[Materialistic]

We cannot refuse to payback it will bring us in bad light but we can formally ask for our debts to be written off fully or partly at least. Such a concession was given in past to many countries including Egypt.