Pakistan Facing Bankruptcy

As global financial crisis deepens, Pakistan is facing bankruptcy problems. Pakistan’s foreign reserves have decreased to 4.5 billion from $16 billion, foreign investors are leaving the country due to political instability and security problems, value of rupee is diminishing every day, the international credit rating agency downgraded Pakistan position and the government is looking for an amount up to $10 billion to shore up the finances.

Pakistan was hoping for assistance from its long-term friend China, but President Asif Ali Zardari returned from Beijing without any commitments made. Another traditional ally, Saudi Arabia, has refused to provide financial assistance to Pakistan.

In all these circumstances the last option that Pakistan has is a call to IMF for assistance. Such a step will will have devastating effect on the poor and it will make their lives more miserable. Financial advisor Shaukat Tareen told Bloomberg.com that he would write to IMF in three or four weeks if Pakistan is not able to obtain funds from ant ally or agencies. Pakistan has already presented its economic policies to the IMF which includes susidies in price and tighter moneatry policy oi finance the deficit budget.


7 thoughts on “Pakistan Facing Bankruptcy”

  1. “we will eat grass but will make nuclear bomb”, a famous quote frm a pak leader… My dear paki friends its time 4 u to eat grass…!
    If u have respect and dignity for yourself,dont accept ‘aids’ and loans frm IMF,WORLD BANK,AMERICA…becos u dont like them but still u accept money and aid frm them.
    U burn flags of U.S and then wait 4 their billion dollar package.. What a country this is!

  2. $33 billion ..haha…my friend…it was before Benazir and Zardari looted + Nawaz’s corruption…but now its worst than ever!
    Where the hell is aga khan? and why isnt zardari giving away some of his own treasures for pakistan? this problem can definitely be solved without IMF’s help but they’re not asking the right people!

    All the great businessmen FROM pakistan…they can donate a bit cant they? + Mr. Altaf the great? he can donate some? oh and what about benazir’s jewelery?

    oh and…if i remember correctly…zardari wasted 20 crore Rs recently coz he thought Aiwan-e-Sadar didnt have enough security when WE THE ppl are the ones actually deprived of security!

    Allah Bachaye Pakistan ke logon ko Aameen

  3. When General Mohammad Zia Ul Haq’s plane crashed in Bahawalpur in Aug 88, courtesy of America’s Jewish Ambassador Arnold Rafael, there were $ 33 billion of forex reserves with the State bank.

    What has happened to Pakistan’s economy in the 20 years since is analogous to what has happened to the rest of the government as a whole.

    Yesterday a private TV channel aired the interview of Ms Hina Rabbani Khar “Special assistant to the Prime Minister on Economic Affairs”. The interview was conducted by a Mr Malik who is known for his bias towards “anjihani” Benazir and her disgusting remnants.

    Throughout the interview Ms Khar who is a niece of the famous feudal rapist Ghulam Mustafa Khar talked rubbish while Mr Malik kept agreeing with her given his own ignorance and sycophancy.

    After the interview Mr Malik chose to arrogantly claim to viewers of ARY -TV that they may not have understood the interview. May be given his own mental level Mr Malik had not understood the interview. As far as the average viewer is concerned it was clear Ms Khar was trying to justify the incompetence, ignorance and corruption of the feudal elite who are destroying Pakistan.

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