Who are beneficiaries of loan write-offs??

In the wake of Election 2008, the people of Pakistan are happy that the coalition government has shown commitment to give respect to their mandate by removing unconstitutionally imposed president and restitution of deposed judges. However, one issue has escaped the attention of everybody, that is recovery of billions of rupees written off by the banks. According to press reports, the Supreme Court has taken serious notice of the fact as to how banks wrote off a staggering amount of Rs125 billion as "bad debts" during the 2000-2006 period, against Rs30 billion written off during 1985-1999. It is reported that larger number of loans have been written off under Circular No 29/2002, issued by the State Bank of Pakistan (SBP), of which major beneficiaries are politicians and industrialists. The criminal culpability of successive governments in this matter has tarnished the image of Pakistan in the eyes of global community as a haven for the corrupt, plunderers and tax evaders.

During the self-claimed "transparent era" of Musharraf-Shaukat, the loans write- offs in just seven years (2000-2006) crossed the figure of Rs125 billion, whereas in the much-publicised "corrupt eras" of elected governments (1985-1999) it was just Rs30 billion. This comparison speaks for itself and does not require any further comments.

Read further here

King Came To Rescue Sapoy

And when everyone is criticizing SHORTCUT AZIZ of bringing havoc to the country economy, king (read SUPREME LEADER OF MILITARY PAKISTAN) came to rescue.

Reportedly, patient named Shaukat got ill after remarks by his friends (read foes) that the whole country is facing economic instability due to shaukat. The patient called on 911 (or 1122) for emergency rescue as he is trapped in the hole (read man-hole). Emergency staff immediately responded back as the patient used to be the huge investor of the pocket of Emergency LEADER. They got hold of him in hotel in LONDON. and gave some tranquilizers and injections of pure blood (read blood of Pakistanis poor). And then rescued him from the mess with slapping on the faces of insects (read FREE MEDIA).

Read the slap sentences here.

Comments are welcome..

Economic Policies of Shaukat Aziz Govt Shattered..

Kaiser Bengali is currently working for Collective for Social Science Research, a research company based in Karachi, economist Bengali has also served as the managing director Social Policy Development Centre between 2001-2004.
His latest interview is eye opener for the govt and us [BLOODY CIVILIANS]. His comment on the Shaukat Aziz Govt. is something like this

For eight years Shaukat Aziz has mismanaged the economy like no other finance
minister. Because Shaukat Aziz knew he does not has to go back and ask people
for votes, he couldn’t care less about what he did to the economy. All he had to
show for was the stock market performance which is only hot air.

Read the whole interview here.

Comments are welcome!!

Wheat Diaries - Part I

An article at PkPolitics mentioned about a letter written by a person to NAB(National Alliance for Businessmen). He goes on like this..

Being a common citizen of Pakistan, I want to draw your attention towards the
corruption of President Pakistan Muslim League (Quaid), Punjab, and former chief
minister Ch Pervaiz Elahi, former advisor to prime minister on finance Dr Salman
Shah, former food and agriculture minister Sikandar Bosan and the absconding
former prime minister Shaukat Aziz who under a well-coordinated criminal plan to
make billions overnight not only sold 1.5 million ton wheat from official
godowns but also sold and smuggled the same quantity of wheat during the period
between December 27, 2006 and May 3, 2007.

Read the story at PkPolitics