Friday, November 23, 2012

Pakistan Stands on $67 billion Dept

Pakistan Stands on $67 billion Dept,97 billion dollars in Swiss Banks,Rs8.5 trillion (US $94 billion) in corruption.
BY:Shoaib Habib Memon
The USA is a vast country with huge resources, but it has a mounting debt too that has to be repaid. The total national debt of the US stands at more than $15 trillion. This loan works out to be $49,762 for every man, woman and child in the US. It owes to China $1.3 trillion.
There’re various reasons for the accumulation of this loan, among which, Bush’s policies, the federal government’s spending spree and paying for two wars on borrowed money, stand out prominently. But, despite this loan, it’s also advancing aid to various countries. One fails to understand as to how it’s managing all this?
It looks as if we, in Pakistan, are also toeing the US line. Our total external debt has swelled to around $67 billion. This is over and above the huge internal debt. We’re printing currency notes to the tune of Rs1.5 to 3 billion daily. Every Pakistani man, woman and child is indebted to an amount of Rs 61,000 each. It appears that this loan will keep rising till the time the next general elections take place. One fails to understand as to where all this money has gone and how this debt is going to be repaid.
The value of Pakistani rupee has fast eroded during the last four-and-a- half years, and will soon touch Rs100 to a dollar.
Therefore Poverty has brought Pakistan face to face with a reality that it will find hard to accept: every third Pakistani is caught in the ‘poor’ bracket i.e. some 58.7 million out of a total population of 180 million subsist below the poverty line. This includes more than half the population in the forever remote Balochistan, 33 per cent in Sindh, 32 per cent in Khyber Pakhtunkhwa and 19 per cent in Punjab. These are daunting figures. But they are much needed for planning, especially when the government appears too embarrassed to release statistics related to poverty.
A Study identifies the 20 poorest districts, 16 of which exist in Balochistan that has been long agitating for attention. There are no marks for guessing that the other four poorest districts are also located away from the train of progress, in Khyber Pakhtunkhwa. The exercise doesn’t identify the causes behind this continued and unfortunate disparity, but the basic factor responsible for the situation is not very difficult to list. The primary reason is the lack of proper, meaningful and non-discriminatory representation for all regions in decision-making. Those who are able to some extent participate in the running of affairs do manage to secure a better deal. Others are denied participation, and democracy for them remains an illusion. The first resource they are looking for is the space from where they can speak and be heard. This is the most essential prerequisite to progress.
 Sametime if We Look Statment of Director Swiss Bank said that Pakistan has 97 billion dollars in Swiss Banks.

Director Swiss Bank said  on Sep 2011 that ‘Pakistanis are poor but Pakistan isn’t a poor country.’ He added that 97 billion dollars of Pakistan is deposited in respective bank and if this money would be utilized for the welfare of Pakistan and its people then Pakistan can make tax less budget for 30 years, can create 60 million jobs, can carpet four lanes road from any village to Islamabad, endless power supply to five hundred social projects, every citizen can get 20000 rupees salary for the next 60 years and there is no need to see IMF and any World Bank for loans.
According to calculations performed by Transparency International Pakistan has lost an unbelievably high amount, more than Rs8.5 trillion (US $94 billion), in corruption, tax evasion and bad governance during the last four years . An adviser of Transparency International acknowledged that "Pakistan does not need even a single penny from the outside world if it effectively checks the menace of corruption and ensures good governance".The Transparency International also noted that the four years of the present regime had been the worst in terms of corruption and bad governance in the country’s history.
Pakistan is a Passing in Difficult Condition due to Terrorism . Its economy is facing fluctuations now a day. At the time of independence Pakistan has very low resources and capital, so the processes of progress were very slow. Unfortunately the politicians of Pakistan were all not well aware of modern global system and the progress processes and the needs of country. Due to bad policies today Pakistan is facing a lot of problems. The continuous failure of policies leads the people of country to miserable conditions. The major problem in the country is poverty which is becoming the cause of crime and social disorder.
Sources: Collected from Dawn,Pakistantoday News.
Writter is Independent Observor you Can Reach by Mobile.0314 2090252

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