Our Announcements

Not Found

Sorry, but you are looking for something that isn't here.

Archive for category Pakistan’s Hall of Shame

Sharif family has owned London flats since ’90s: BBC report BY HAMID KHAN WAZIR


Pakistan Today

Sharif family has owned London flats since ’90s: BBC report

BY HAMID KHAN WAZIR

PTI Spokesman Naeemul Haq says PM will have to surrender before the law of the land The news report by BBC Urdu regarding Sharif family’s London flats has helped the claims of Pakistan.

The news report by BBC Urdu regarding Sharif family’s London flats has helped the claims of Pakistan Tehreek-e-Insaf (PTI) who now say that Prime Minister Nawaz Sharif has been left with no option but to surrender before the law of the land.PTI Central Secretary Information Naeemul Haq, in reaction over the BBC Urdu report, has stated that the report has completely exposed the lies of the premier before the nation.He said that the PM could have avoided this humiliation had he not lied before the nation.The BBC Urdu report says that the properties owned by the Sharif family in London’s upscale Park Lane neighborhood were purchased in the 1990s and there has been no change of ownership since then.According to official documents available withBBC Urdu, the four flats were purchased in the name of the Nielsen and Nescoll companies.

 

 

 

 

Naeemul Haq said that Nawaz Sharif has wasted nine months to provide cover to his lies.

“The PM lied on the floor of the Parliament and before the nation; he changed his lawyers time and again to conceal his lies in the apex court,” he added.

Naeemul Haq said that despite efforts by the ruling party, they have failed to hide the truth from the public.

He said that Nawaz Sharif has no way to escape accountability, adding that the premier and his family did not take those who published Panama Leaks to the court. He said that PTI will see whether the family will sue BBC Urdu for its report.

According to the documents, an official record of companies doing business in the United Kingdom reveals that when Hassan Nawaz established Flagship Investment Ltd in 2001, the address he provided at the time of registration of the company was that of his Park Lane apartment.

According to the report, Neilson and Nescoll purchased the following flats:  Flat 17 on June 1, 1993; Flat 16 on July 31, 1995; Flat 16A on July 31, 1995; and Flat 17A on July 30, 1996. There has been no change in ownership since then.

After the Panama Papers were published, Prime Minister Nawaz Sharif’s son, Hussain Nawaz, had accepted the family’s ownership of Nielsen and Nescoll.

Hussain had said: “The Park Lane apartments in London are ours, two offshore companies, Nielsen and Nescoll, own these flats and I am the beneficial owner of these companies, working under a trust held by my sister Maryam Nawaz Sharif.”

Flat 12A is owned by Flagship Investment Company since 2004. Hassan Nawaz is the director of Flagship which was created in 2001, the report added.

 
 
 

, , , ,

No Comments

Pakistan’s External Debt Will Soon Cross a Staggering $75 Billion

Pakistan’s External Debt Will Soon Cross a Staggering $75 Billion

 

Pakistan’s loan situation has steadily grown worse over the course of the last year as the government has continued to take on more loans from local and foreign institutions. While taking loans is not unique to this government, the rate at which the loans are accruing is certainly unprecedented.

Pakistan’s Current Debt

2016 was a record setter in terms of debt for our country. Pakistan’s foreign debt stood at Rs. 74 trillion ($72.98 billion) after the first half of 2016. During the last fiscal year, Pakistan’s debt increased by $7.9 billion, a record amount of foreign debt.

During the past three-odd years, the current government has taken $25 billion in foreign loans. Out of the $25 billion, $11.95 billion was used to pay off other loans.

For the same duration, the PML-N government has borrowed $30 billion (PKR 3.1 trillion) from local banking institutions.

Summing up, Pakistan’s total debt (local and foreign) had increased by $55 billion in the three-odd years of the current govt. Loans from the Chinese institutions are a separate issue altogether and more details regarding those are still incoming.

We would like to mention that domestic borrowings are often not mentioned because their effect is not as adverse as foreign debt. The government could simply devalue the local currency and make up for local payments.

Debt Predictions

According to data from the Trading Economics, Pakistan’s external debt will cross $75.54 billion (PKR 79 trillion) when the details for Jan 2017 come out.

It is expected to cross $79.35 billion (PKR 83 trillion) in 6 months’ time and at the rate, it is progressing, the analyst firm says by 2020 the foreign debt will reach $87.1 billion (PKR 91.2 trillion).

Pakistan’s Debt Due in 18 Months

Pakistan has to pay $11.5 billion within the next 18 months. Various international monetary are owed different amounts from that sum. These are:

  • Pakistan has to pay a sum of $8.76 billion to International Monetary Fund (IMF), World Bank and Asian Development Bank.
  • $160 million has to be paid in Saudi Riyals to Islamic Development Bank.
  • Pakistan has to pay $1.6 billion to China within 18 months.
  • Japan has to be paid back 192 billion Yen.
  • Paris Club from France is owed 625 million Euros.

Debt History

Let’s take a look at Pakistan’s debt history:

  • Pakistan had received $121 million from 1951 to 1955.
  • The figure nearly had tripled in the next five years.
  • By December 1969, the external debt of Pakistan had amounted to $2.7 billion.
  • Pakistan’s total external debt was $3 billion by December 1971.
  • Foreign debt figure had then subsequently increased to $6.3 billion in 1977.
  • Pakistan’s external debt was $21.9 billion in 1990.
  • It was $35.6 billion in 2000.
  • Pakistan’s foreign debt and liabilities in July 2013 stood at USD 61.9 billion
  • In July 2014, Pakistan’s foreign debt soared to USD 63.4 billion, showing an increase of USD 1.5 billion.
  • In July 2015, the foreign debt rose to USD 65.1 billion recording an increase of USD 1.7 billion.

Some Facts

With updated information about Pakistan’s debt, some often used facts need to be updated.

  • With a foreign debt of 74 trillion and a population of 190 million. Each Pakistani owes Rs. 389473.68. (The amount is higher when considering local debt.)
  • With a foreign debt of 79 trillion (Recent prediction) and a population of 190 million. Each Pakistani will owe Rs. 415789.47. (The amount is higher when considering local debt.)
  • When the debt is converted to $1 notes, it can be wrapped around the world 284 times (293 times with $79 billion).

 

Which Countries Have The Highest Default Risk: A Global CDS Heatmap

Tyler Durden's picture

Sweden beats USA and Germany as the least likely to default on its bonds but at the other end of the global sovereign risk spectrum lie two socialist utopias – Venezuela (CDS just shy of 6000bps) and Greece (CDS around 1800bps) are the nations most likely to default.

Of course, our readers will be well aware of this: back in December, when its CDS was trading at “only” 2300 bps (or whatever points upfront equivalent it was back then) we said Venezuela CDS are going much, much wider. Little did we know that in just about 14 months they would more than double, and as of last check, Venezuela CDS are just shy of 6000bps suggesting a default is virtually guaranteed.

So aside from these two socialist utopias, who else is on the default chopping block? The CDS heat map below lays out all the countries which according to the market, are most likely to tell their creditors the money is gone… it’s all gone.

Below, in order of declining default risk, are the ten most likely to follow Venezuela and Greece into the great default unknown:

  1. Ukraine
  2. Pakistan
  3. Egypt
  4. Brazil
  5. South Africa
  6. Russia
  7. Portugal
  8. Kazakhstan
  9. Turkey
  10. Vietnam

Sovereign Credit Default Swaps (CDS) are financial contracts that measure the risk of default on sovereign debt: the higher the spread, the greater the risk of default.

Source: BofA

 

 

 

 

 

, , , ,

No Comments

THINK OVER IT.

Image result for Pakistan Corrupt Politicians
Image result for Pakistan Corrupt Politicians

Related image

Think over it!

١: ایک پاکستانی سیاستدان دو یا دو سے زائد حلقوں سے بیک وقت الیکشن لڑ سکتا هے،
 
مگر ایک پاکستانی شهری دو حلقوں میں ووٹ نهیں ڈال سکتا.
 
٢: ایک شخص جو جیل میں هے ووٹ نهیں دے سکتا مگر ایک پاکستانی سیاستدان جیل 
 
میں هونے کے باوجود بھی الیکشن لڑ سکتا ھے
 
٣: ایک شخص جو کبھی جیل گیا هو کبھی سرکاری ملازمت نهیں حاصل کرسکتا مگر ایک 
 
پاکستانی سیاستدان کتنی بار بھی جیل جاچکا هو صدر، وزیراعظم، ایم پی اے، ایم این اے 
 
یا کوئی بھی عهده حاصل کرسکتا هے.
 
٤: بینک میں ایک معمولی ملازمت کیلیئے آپ کاگریجویٹ هونا لازمی هے مگر ایک 
 
پاکستانی سیاستدان فنانس منسٹر بن سکتاهے چاهے وه انگوٹھا چھاپ هی کیوں نه هو.
 
٥: فوج میں ایک عام سپاهی کی بھرتی کیلیئے دس کلو میٹر کی دوڑ لگانے کے ساتھ 
 
ساتھ جسمانی اور دماغی طور پر چست درست هونا بھی ضروری هے البته ایک پاکستانی 
 
سیاستدان اگرچه ان پڑھ، عقل سے پیدل، لاپرواه، پاگل، لنگڑا یا لولا هی کیوں نه هو وه 
 
زیراعظم یا وزیر دفاع بن کر آرمی، نیوی اورایئر فورس کے سربراهان کا باس بن 
 
سکتاهے.
 
٦: اگر کسی کسی سیاستدان کے پورے خاندان میں کوئی کبھی اسکول گیا هی نه هو تب 
 
بھی ایسا کوئی قانون نهیں جو اسے وزیر تعلیم بننے سے روک سکے اور…..
 
٧: ایک پاکستانی سیاستدان پر اگرچه هزاروں مقدمات عدالتوں می اس کے خلاف زیر 
 
التوا 
 
هوں وه تمام قانون نافذ کرنیوالے اداروں کا وزیر داخله بن کر سربراه بن سکتا هے.
 
گر آپ سمجھتے هیں که اس نظام کو بدلنا چاهیئے، ایسے نظام سے جس میں ایک عام 
آدمی اور ایک سیاستدان پر یکساں قانون لاگو هو تو پاکستان کی عوام میں زیاده سے 
زیاده آگاهی کیلیئے اس پیغام کو دوسروں تک پهنچانے میں تعاون کریں.همیں درحقیقت اس نظام کو بدلنے کی ضرورت هے.

 

 


 Selection Editor: Ali Syed, Pakistan Think Tank

Poll on Political Corruption

  • Nawaz Sharif. 53 vote(s) 45.3%
  • Asif Ali Zardari. 100 vote(s) 85.5%
  • Shahbaz Sharif. 17 vote(s) 14.5%
  • Altaf Hussian. 30 vote(s) 25.6%
  • Raja Rental ( Parvez Ashraf ) 31 vote(s) 26.5%
  • Yousef Raza Gilani. 22 vote(s) 18.8%
  • Mulana Diesel Fazal-ur-Rehman. 23 vote(s) 19.7%
 

,

No Comments

THE LAST CHANCE. By FAKIR AYAZUDDIN

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

THE LAST CHANCE.

  By

FAKIR AYAZUDDIN

 

 

 

 

 

    The figures showing the increase in our National debt are frightening. They show that not only are our leaders incompetent, but the reckless manner in which they have run the country to take the debt from 1500 billion at the end of Musharrafs era to 14000 billion after Zardari’ last spell, and then Nawaz has not ended his spell, but has borrowed ,18,800 billion! In just 18 months, and his term is not over yet.
A friend of mine who has been with the World bank for twenty years had the following comments on these figures.
‘Ayaz
Interesting figures.  The following points come to mind.
1. Performance under military govts  – two and half to three times better than under politicos.  Per capita income which measures people’s welfare showed consistent improvement under military govts. Stagnant under political govts. and particularly abysmal under the Bhuttos, who played with peoples expectations.  No delivery.

2. Scandalous level of debt financing under zardari.   He almost de-constructed the economy and the country.  You don’t see such rapid debt build up in peace time. Oil price increases may have contributed to no more that 25-50 pc of this increase. but nearly 900 pc increase in 4 to 5 years only shows that  our finances were in a free fall.  This can only sustain in a culture of corruption and cronyism or war.

The last line is particularly important ‘ in a culture of corruption cronyism or war. ‘
The point being that this level of debt increase can only be visited upon a State in a time of war. Gen Raheel Shareef understands well the word war. All army officers have lived with this word. And know well the cost. In lives, their lives are at the forefront. He should apply this yardstick to his decisions. In Wana his soldiers are at war. Not of their choosing, but when pushed to the wall the Pakistan Army under Gen. Raheel had to fight. This has been appreciated worldwide, and has earned him the respect of the world leadership. Gen Raheel should also realize that the actions of the politicians is as dangerous and as damaging as the Taliban. And must be tackled with the same ferocity.
     It shows how the recklessly the Zardari Government treated the State of Pakistan. Zardari has set a record of corruption and of singlehandedly destroying the economy of the country. Along with Gen Kayani, who certainly was a part of this crooked setup, for, without Kayanis tacit approval, this could not have continued.
     During this period no development of any kind, no roads, no airports no Gas/ Oil pipelines were laid. No infrastructure of any kind, the money vanished into the deep pockets of the PPP, via the Sindh Government network. The huge amounts of money– the 200 billion Rs a year that were skimmed off were added into the National Debt. None of the politicians in the opposition or the bureaucracy had the intelligence to realize the enormity of the crime. It is only the people who will continue to suffer their poverty, for their hope has been stolen from them by these rapacious politicians. The entire assembly should be branded as crooks. Even Imran Khan should be taken to task for allowing himself to become a part of this scam, just by attending this bogus assembly.
     It is now apparent that the politicians can not be allowed to govern any longer. They have continually raped the country, while making empty promises, that they had no intention of keeping. They have violated the constitution, and caused immense economic damage to the country. While giving no development of any kind.
     Nawaz Sharif is not visible in the country, neither is Shabaz Sharif. The scams are mounting, the latest is the Ship for the transport of LPG from Qatar. It has been exposed on TV that our port does not have the depth to accommodate such a large vessel, and smaller parcels of gas will have to be brought in. Strangely a company like Engro with sensible management in place could be caught in being party to such blunders. On the same level as Raja Rental. With huge amounts being paid on the contracted LPG if the delivery of the contracted amounts are not taken. These are actions that are part of the systematic rape of the country. Why is this being allowed to continue.?
    Gen Raheel should understand that we the people are powerless to stop this attack on the country, for we are told to wait for the next election. Gen Raheel should understand that there may not be a Pakistan left in 24 months time. He has to act now, for with each year another 1000 billion will be added to our burden. For him there will be no fig leaf of the constitution to hide behind. That fig leaf has been worn threadbare by the politicians, till it is now transparent and everyone can see through it. Anyone in support of the status quo is guilty of treason. This country has contract killers on the loose, unlicensed weapons are freely available– and were on hire till the recent past, but now there is such a huge number available that it is cheaper to buy. Crime does pay, and the politicians are the success story for crime.
     Gen Raheel will have to put a stop to this rot. Otherwise the country will pay a horrific price. Even Imran Khan will realise that being a part of this system will involve him in the resultant mess. How will Imran say he was not involved.?
     Gen Sahib, you must act now, in defence of the country. It is the only one we have.

 

, , ,

No Comments

INTERNATIONAL LAYER OF INSTABILITY By Samson Simon Sharaf

My Opinion in Nation.
 While reading do not miss moles planted within the most vociferous opposition party and the moles within us. 

 

INTERNATIONAL LAYER OF INSTABILITY

Samson Simon Sharaf

 
Like the simile of an onion I have used to frame my hypothesis, the most crucial and damaging is Pakistan’s susceptibility to US interests in chagrin to its short and long-term interests. Whenever a Pakistani leader has shown a flair for independence, he/she has been eliminated. Add to the list Pakistan’s tax evaders, money launderers, political business cartels, offshore businessmen, bad fiscal policies, impotency of regulators, opaqueness in transparency and economic hit-men to make a lethal brew of anti non-state actors. All these layers compliment each other but for the interests of Pakistan. They also coalesce when needed to subdue the winds of change. They exist in every sinew of Pakistan’s politic body. 
 
Pakistan has never had a cohesive, self-serving and permanent national policy; a sad but true reflection of a state that spent half its existence under military dictatorships or tailored democracies under the watchful eye. The first decade was lost to political conspiracies hatched by a group of bureaucrats and politicians, who had the advantage but not the conscience of serving with Quaid-i-Azam Mohammad Ali Jinnah. They chose to wade through a muddied perspective on an elusive and unending journey of inventive nationalism that caused disfigurement. To complicate the national construct, foreign policy resulting in subservience to USA set in motion a diplomacy of invisible interventions that often became violent.
 
How intense were US interests in Pakistan that Prime Minster Liaqat Ali Khan had to be assassinated by CIA through the Afghan Government because he refused to destabilize Mossadeq’s regime in Iran begs no answer. Subsequently USA not only changed the regime but also reached a long-term alliance with Saudi Arabia that was to later forge the Oil-Dollar Equation. Pakistan’s close relations with Saudi Arabia and other Arab Kingdoms are imbedded in working within US interests and in the bargain provide a security balance to Middle East. Now that USA is easing its policy on Iran after many decades, Pakistan will be dissuaded across the entire spectrum of policy from placation to violence to keep its relations with Iran in concert with US-Saudi objectives. 
 
This shift in Pakistan’s policy was the result of Bhutto’s policy of a greater Muslim alliance through the Islamic Summit. Ultimately it distanced Iran. But Iran too had its hegemonic designs that became aggressive after the Iranian Revolution creating frictions on international border, inside Afghanistan and sectarian lines. Ever since, both neighbors have played a game of brinkmanship with mutual suspicion under the watchful eye of USA and KSA. 
 
On his part Bhutto suffered a fate no different from Liaqat Ali through a military dictator groomed to work for US-Saudi Interests. His judicial murder was actually a correction course for Pakistan lest it became too independent and powerful.What did Bhutto do to merit such a cold-blooded end? The answers lie below.
 
First, he rebooted Pakistan’s nuclear program towards weapons. Bhutto envisioned a nuclear Islamic block strengthened by the oil wealth and Pakistan’s skilled manpower. However, his left leaning policies were viewed with suspicion by his Arab allies. Bhutto had a long-term vision for his country but his economic plan backfired. To put Afghanistan under pressure he supported the Afghan Student résistance against Sardar Daoud. The pressure worked and Daoud was ready to sign a permanent deal on Durand line. Days before the two heads of states were to formalize the agreement; Bhutto was overthrown by a military coup. The military regime never pursued this agreement. Bhutto proving too big for his boots was made an example. 
 
Bhutto’s erstwhile military chief and his executioner fared no better. The military takeover in 1977 served US interests and infused permanent seeds of internal instability in the form of weaponisation of society, drugs, militant organizations, intolerance, sectarianism and religiously inspired violence. The mock Afghan jihad lasted as long as it served US interests and was conveniently relabeled as the invisible floating threat of Islamic terrorists. USA was suspicious of Zia’s growing nuclear cooperation with China. He had to go and so did that fatal flight on C-130. 
The daughter of the East returned to Pakistan with a thumping popular applause. But also attached to her Bhutto symbolism was an ill matched spouse willing to cut her to size whenever she over grew. Her spouse through his corruption twice got her governments removed. 
Yet within her limitations of working with many uncles, new entrants and a dubious husband, she never gave up her father’s vision. The nuclear program progressed to perfection including the weapon testing sites in Chagai. Then began the pursuit of delivery systems and their indigenous production. She continued to pursue the Afghan policy of her father. By 1996, Mullah Omar had agreed to the international demand of a broad based government and also signing the Durand Agreement. A day before she was poised to sign this historic accord with the new Afghan broad based government, President Laghari mysteriously sacked her government. Neither the interim not the subsequent PMLN government pursued this historic opportunity.
 
To her credit, Benazir never lost heart. After 9/11 she almost engineered the handing over of Osama Bin Laden to Turkey, a NATO country. USA refused. Then she returned infused with an elixir. She had made some of the most critical decisions of her life; amongst them to team up with Musharraf to make a formidable Pakistani team and secondly to shed off her yoke. As per her terms of agreement with USA, Nawaz Sharif was to serve his time of self-exile in KSA. She rejected the NRO. The daughter of East had become too hot to handle. Though her fire is seemingly extinguished, it is in the interests of Pakistan that the pyre must burn. Musharraf’s exit after her death and subsequent humiliation were writings on the wall. Zardari became the heir to the political dynasty through a controversial Will. 
 
So what does this entire ongoing drama in Pakistan mean? If precedence is to be followed, it is all hallow and the birds of feather will flock together.  These agents of instability are well placed in every system, organization and political party to allow a departure towards an independent Pakistan. Even if some amongst them wish contrition, they will be ruthlessly cut to size. 
 
Like a conventional current on a boil, everything must go down for a new to begin. 
 
Samson Simon Sharaf

, , , , , ,

No Comments


Skip to toolbar