Pakistan to seek more economic aid from US to compensate war on terror losses

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Pakistan to seek more economic aid from US to compensate war on terror losses

(14 posts)

secular__pakistan
Blocked

New US government to get full picture of terror war losses: Pakistan's report for seeking compensation
SOHAIL SARFRAZ
ISLAMABAD (November 08 2008): In a major move to seek economic support from the United Sates, Pakistan Embassy in Washington has decided to submit a comprehensive report to the newly elected US government on the negative impact of "war on terror" on Pakistan's economy, trade, imports/exports and tourism. The embassy would present the overall review of Pakistan's economy to obtain maximum economic support from the new US government.

The report would highlight flight of capital; infrastructure destruction; sluggish business activity and impact of "war on terror" on the foreign investment in Pakistan. It seemed to be a major diplomatic move by Pakistan to present a strong case before the newly elected US government for obtaining economic assistance.

In this connection, the Pakistan Embassy in Washington is actively interacting with the Ministry of Foreign Affairs in Pakistan for early compilation of a report on Pakistan's economy.

Pakistani diplomats in Washington would submit the report to the US government, covering the following areas:

-- Negative financial implications due to "war on terror in Pakistan."

-- Devastation of the military, security, social and developmental infrastructure due to "war on terror."

-- Reconstruction cost of the decimated infrastructure in Pakistan.

-- The loss of inflow of direct foreign investment (FDI).

-- Flight of capital, which occurred in recent years due to fears of insecurity.

-- Loss of employment and its impact on taxation base and low tax-GDP ratio in Pakistan.

-- Closure of industries in areas, which are hit by the war and its "spill over" impact on the broader economy.

-- Sustenance of the internally displaced persons.

-- Stagflation that the economy has faced due to slowness of growth.

Details revealed that the Pakistan Embassy in Washington DC has requested the Ministry of Foreign Affairs to prepare an analysis report on the economic impact of the ""war on terror in Pakistan". The mission intends to utilise this information for making a case, seeking economic support for Pakistan.

At present, the Ministry of Finance, State Bank of Pakistan (SBP), Ministry of Defence and Ministry of Interior and Ministry of Tourism are compiling data on the impact of "war on terror in Pakistan." Sources said that it was a serious effort of the Pakistan Embassy in Washington to obtain economic support from the US by presenting a realistic picture of the country.

Copyright Business Recorder, 2008

http://www.brecorder.com/index.php?id=833753&currPageNo=1&query=&search=&term=&supDate=

Posted 3 years ago on 08 Nov 2008 8:00 #
Asif
Blocked

I like that move provided coupled with sincerety.

Posted 3 years ago on 08 Nov 2008 8:04 #
Beenai
Moderator

yah ...we need more money...coz our president is a poor widower and has to raise 3 kids.

Posted 3 years ago on 10 Nov 2008 8:41 #
secular__pakistan
Blocked

Beena,

Healthy and deserved criticism is good, but, I dont like these negative and cynical views (about everything) which are far too prevalent in our society.

Yes, WE (Pakistan) need money to stabilise our economy which has taken a severe battering over the past 20 months.

Posted 3 years ago on 11 Nov 2008 7:25 #
Beenai
Moderator

@Secular,
bhai i am not trying to be funny or sarcastic or synical.
thats the fact of the day that what Zardari is asking ,is asking for himself only.
every country knows his track record of being a corrupt.
so nobody is willing to give us money ....

Posted 3 years ago on 11 Nov 2008 8:13 #
Anonymous

@ Beenai
As you wrote here ...."yah ...we need more money...coz our president is a poor widower and has to raise 3 kids."....
you did not calculate well, i meant his 55 very very poor ministers too>>>
I have daubt that Zerdari will ever visit swiss , because of his proved corruption there.>>>>>>>>>> I have a dream, I want Zerdari in Swiss<<<<<<<< I have a dream....:)

Posted 3 years ago on 11 Nov 2008 17:54 #
secular__pakistan
Blocked

Beena baji,

I know how corrupt Zardari is. But, that doesnt mean that all the aid or loans that are given to Pakistan will end up in his pocket.

IMF will strictly monitor the utilization of the loans, the economic discipline and policies.

Stealing a little here and there is easy, but, its not easy to launder billions and billions of dollars! You eventually get caught, like Zardari and Benazir did when cases against them sprung up around the world.

They got lucky once and it was all written down. It wont happen again.

Posted 3 years ago on 11 Nov 2008 20:39 #
Insider
Member

sounds like pakistan is still up to its old fakheeri habits.

its like a drug addict that needs just one more aid package.

Posted 3 years ago on 13 Nov 2008 21:01 #
codefreaq
Member

insider right now every country except china is a fakeer so lets not get too cocky here

Posted 3 years ago on 14 Nov 2008 0:06 #
secular__pakistan
Blocked

Actually, even China is fakeer now. The country with the best economic performance for the past 30 years, China, had to inject $600 billion into its now ailing economy.

These are tough times.

Posted 3 years ago on 14 Nov 2008 0:46 #
codefreaq
Member

thats not right. chinese economy is seeing a slump because all of chinas consumers are going through a recession however unlike other countries china has huge $$ savings to ride out the bad times it doesnt have to borrow money from other countries to help its economy

Posted 3 years ago on 14 Nov 2008 1:33 #
Beenai
Moderator

@Secular Bhaiyya,
looting is not that easy???
what r u talking about???
looting money is the easiest thing ,one can do in Pakistan.
how come Zardari and BB had become most rich couple of Pakistan???
how come Nawaz and others are rich and getting richer???
all political leadears ,army generals,beaurocrats are looting this country.
eating it up like a cake.

Posted 3 years ago on 14 Nov 2008 5:20 #
secular__pakistan
Blocked

Codefreaq,

If by China's consumers you mean China's biggest customers, ie, the US and Europe, then you are completely right. That is why the Chinese economy is hurting, growth has dramatically slowed down.

But the Chinese have huge savings and massive amounts of foreign currency, you are right.

My guess is they will be using these to stimulate their local consumption/demand/market during this crisis. This is probably what the $600 billion stimulus was meant to do.

But no doubt, China is still better placed than most, if not all others.

Beena,

What I meant was that looting in large amounts (billions of dollars) is very hard because you eventually get caught. Small loot is easy, and, they all do it.

Which is really tragic. I just read an article about some beuracrats taking advantage of a confused govt. to unlawfully allot themselves govt. land. Truly truly sad. I posted it here on this forum.

I dont know what to say.

Ill be honest with you today. I believe the problem lies within our society, its a much deeper problem. Our society and people lack honesty and sincerity and discipline and good morals; the rulers who come into power are a reflection of our society which lacks all good morals and values.

Posted 3 years ago on 14 Nov 2008 7:55 #
Beenai
Moderator

@Secular ,
here the whole national excheqer has been stolen and u still think that bigger size of looting and plundering is not possible...
i think it is quite possible,,,dont underestimate ur political leaders,beaurocrats and army generals ...they can eat more than we can think of....
they r quite capabile ...believe me ....
on that note i 100% agree with u ,that we as a nation lacks honesty,sincerity and vision ...so thats why we cant expect our leaders to be laundry clean.
but to some extend we can have some expectations...for them to be a little better than us to prove that ,they deserve to rule us and called leaders by us .

Posted 3 years ago on 14 Nov 2008 8:25 #