Pakistan’s poor should benefit from subsidies, not the wealthy: IMF chief

[VCheng]

Will? Oh they understand every one bit of it, it is only that they wish that few others who understand this shouldn't understand it or talk about it.

The next interesting drama unfolding right now is, politicians indirectly blaming and targeting jarnail class, it is totally pop corn worthy show, politicians ganging up on jarnail class (not because they have some how found the ghairat or the lost courage, but because this is new to win the votes). Sympathy vote this time is for the ones who more openly accuse jarnail mafia. I do feel like that going bankrupt is a blessing in disguise. Judge, bureaucrat, parliamentarian, jarnail .. they all very well know, what is wrong and how it can be corrected, but obviously why would they?

The Generals have their own crimes to answer for, to be sure, but dealing with - or rather, the failure to deal with - the current mess is the responsibility of the present pathetic lot in charge.

 

[Dalit]

"Impossible conditions" -Shahbaz Sharif.

LOL Exactly. What an impossible condition to tax the rich.

 

[I.R.A]

The Generals have their own crimes to answer for, to be sure, but dealing with - or rather, the failure to deal with - the current mess is the responsibility of the present pathetic lot in charge.

I believe the current nazuk daur and burhan is mostly because of Mariam Safdar, that stupid woman has done some serious damage and continues to do so, and somehow no one has the ability or courage to oppose or throw her out.

 

[Burger_King]

BS and I will prove why.

Imagine you have a deposit in a bank whose management comprises of corrupt MFers who invest depositor's money in ponzi investments in return for kickbacks. Imagine auditors are on the take as well so no one finds out until a whistle blower exposes the scam after which there is a bank run.

To stop the bank run, central bank steps in and agrees to bailout depositors to the tune of 50c to a dollar but, due to political pressure, leaves the corrupt MFing management in place. Another condition of bailout would be that depositors cannot get access to the funds for three years.

In your opinion, how much will the depositor receive after lockout period? My answer is not a lot. CEO is a CIA tuttoo and knows he is untouchable. He wants Mayfair apartments, Rockwood Mansions and thoroughbred horses for his ever expanding family members. He therefore has no reason to cleanup his act.

IMF's intention might be pure, and even that is debatable, but without dealing with the root cause, IMF is prescribing all pain and no gain for Pakistanis. We know that Pakistani political leadership comprises of people who are corrupt, incompetent and a sellout bunch of thugs. We have records going back nearly forty years which exposes their gory kurtooths in graphic details. Western governments as well as gora press, when it has suited them, published tomes on the degeneracy of Pakistani ruling elite. And yet time after time, these people find shelter in the west. Why would criminals reform themselves when there are no penalties for crime? Why burn the midnight oil when degeneracy is so much easier and profitable. Why get involved in minutia of raising wheat crop yields or improving animal husbandry when you can pour over brochure of latest Candy Brother offering in the middle of Knightsbridge?

IMF prescription for Pak is akin to applying bandage for a bullet wound while allowing shooter to roam free. If IMF had the interest of Pakistanis at heart, it would force western governments to disclose details of foreign assets of Pakistani politicians, generals, judges and bureaucrats. But our Robin Hood wanna be IMF apparatchiks will never step on gora toes because they know which way their bread is buttered. Cant blame them as everyone has a mortgage to pay.

But blame lies and solution lies with the awam. Neuter criminals instead of doing their puja and see how fast fate improves. Until then, no dice.

 

[ziaulislam]

Such a shame that she has to tell us these things, and then we make the IMF the bad poster child for our public.

Yes but problem is why I know it's not IMF mandiate but the axe will fall on poor due to increased in sales tax with no increase in other taxation

 

[VCheng]

I believe the current nazuk daur and burhan is mostly because of Mariam Safdar, that stupid woman has done some serious damage and continues to do so, and somehow no one has the ability or courage to oppose or throw her out.

Not just her, but SS, Dar and a whole bunch of other corrupt criminals too.

It goes even beyond that, this IMF chief can be a God-send if they know how to negotiate with her.

That would work only if we approach IMF as the savior that it is at our request, and not the villain that it is popularly - and deviously - portrayed as by most. We have a tradition of using it as a crutch and then throwing it away when the economy gets a little breathing room, twenty-two times already, and counting. This time is likely to be no different, sadly.

 

[Olympus81]

Me thinks another round of NRO is in order.

NRO1 and NRO2 had a gap of 10 years. Subsequent ones will have a gap of 1 year or less.

 

[Chute]

I totally agree here, but then again no one cannot shield anyone from their own stupidity, specially if it is by choice. Even if they were not part of the intention, it is their choice to bear it all.

True, I suppose it all boils down to where the final breaking point actually is....where the horse bucks off its knight.

As you have said a lot of times, people get the leaders they deserve....since there is obviously some continuous spectrum of responsibility (and lot of recourse for even civil disobedient action) residing in the whole population from the actions and consequences that impact them too.

 

[VCheng]

True, I suppose it all boils down to where the final breaking point actually is....where the horse bucks off its knight.

As you have said a lot of times, people get the leaders they deserve....since there is obviously some continuous spectrum of responsibility (and lot of recourse for even civil disobedient action) residing in the whole population from the actions and consequences that impact them too.

Only a horse that still has some fight left in it will do that. A chronically starved horse with khaki and green blinders on simply will not have the will or the strength or indeed the vision necessary to do so.

 

[Chute]

Only a horse that still has some fight left in it will do that. A chronically starved horse with khaki and green blinders on simply will not have the will or the strength or indeed the vision necessary to do so.

I do not think it has been chronically starved...but of course let us see (as long as we are around to observe it at least).

 

[VCheng]

I do not think it has been chronically starved...but of course let us see (as long as we are around to observe it at least).

The process of deprivation, strangulation and blinders started in the late 70s. This horse is now fit for glue and leather conversion only.

 

[ghazi52]

.,.,.,

 

[Paitoo]

IMF is absolutely right

 

[ghazi52]

.,,..,

It is morally indefensible that officials kept enjoying perks for months despite economic turmoil​

THE austerity measures announced by the federal government on Wednesday should not have come as an afterthought. Pakistan had already been mired in a mushrooming economic crisis when the PDM government took over.

There had been only two key priorities for the new government after it ousted the PTI from power: keep the economy afloat and the state functioning till the next general election rolled around.

The prime minister, it seems, had different plans. Eager to please the many partners in his coalition government, he went on an appointment spree, inducting 34 ministers, seven ministers of state, four advisers, and 40 special assistants to the PM, the last of whom were appointed just weeks ago.

Despite this surfeit of men and women in official roles, however, his government remained unable to prevent itself from stumbling right to the edge of default.

Now, after creating one of the most obscenely bloated cabinets at the worst possible time in our economic history, the prime minister has assured us that he is taking stock.

With the country unable to finance its deficits, he has asked his ministers and advisers to forego their salaries and benefits, give up their luxury vehicles, pay their utility bills out of their pockets, stop staying in five-star hotels while abroad, and fly economy as part of a set of measures intended to save Rs200bn a year.

Other measures include a ban on the import of luxury items and cars for over a year and entitlement to ‘only one’ official plot per government employee.

It is morally indefensible that the public officeholders of a country that keeps returning to international lenders every few years for a bailout had continued to enjoy such extravagant benefits for months after its financial woes became apparent. Cutting corners now, when the country has been placed at the mercy of external creditors, seems too little, too late.

It is little wonder that the IMF has so far refused to extend the country any further help considering how skewed its priorities have been and how obstinately the powerful have been avoiding picking up the tab. Indeed, IMF managing director Kristalina Georgieva’s recent remarks urging “a fairer distribution of the [inflationary] pressures by moving subsidies only towards the people who really need it” had made her sound more concerned about the country’s ordinary citizens than our own leaders.

The federal government, which must eventually turn to the public, has since been shamed out of its inaction. The armed forces, too, are reportedly drawing up proposals to slash non-combat expenditures.

It remains to be seen how the provincial governments and the judiciary respond. The powerful should not expect the masses to continue acquiescing in their extravagance while they struggle to put food on their own table.

Published in Dawn, February 24th, 2023