IMF is the arm of western capitalism to ensure that decolonized countries may never take off economically. IMF is a part of Brenton wood institutions in addition to World Bank & IFC established in 1945. IMF always lends money on very strict conditionality’s to meet their wasted interests.
IMF always tells the country seeking loan that your balance sheet is not good enough to ensure the return of money and IMF like to depute their own loan experts and economists to draw a road map of remedies for a country to follow on and on the completion of agreement & conditions from both sides the loan money is granted.
Keeping in view this agreed arrangement IMF strictly dictates to impose agreed terms of in the shape of taxes on oil gas retail energy buying selling or retail selling. This is what is happening to Pakistan all the development projects are held & cost of doing business is sky rocketing. Dollar is getting stronger and stronger and rupee is down on the earth because our trade deficit is out of control we are stuck at about 22 Billion dollars exports where as our imports are three times more than our exports. It is aver pertinent question that what we are importing for Pakistan or for Pakistanis. What Pakistan importing is luxury items expensive automobiles and all those items which are available in Pakistan infect some made in Pakistan product is returned with global logo. We need to block all such imports for five years and control our borders against smuggling. Border trade must be as per international rules and per trade agreements.
Pakistan has started to impose more taxes on import of machinery and plants which is stopping industrialisation.SBP is in a state of shock for matters out of their control or their powers are seized. New Finance Minster took over at the time when complete damage was done and he has nothing to do in this matter infect there is nothing in his basket to offer Pakistan to retrieve this situation. He cans only try to repair the damage all ready done but how long and who far.
IMF is acting only as per agreed terms of loan with Pakistan. Delay in making decisions are some time more damaging and expensive than making wrong decisions. Why Pakistan did go to IMF after waiting one year why not China? China was ready to step forward and grant more support to Pakistan being an old friend and more over they have great stake of CPEC project. I know the names of great Muslims countries that could be approached especially by our PM Pakistan personal relations & his great goodwill.
All the hard work of Pakistanis and Government is not bringing a trickledown effect on the economy. We must ensure regular increase in exports to achieve desired results. I strongly feel that: Consultation is a great strength and our policy makers on national level must open gates for proposals: Can someone stand up to say- Stop import of High priced vehicle’s, useless items & luxury items for 5 years.
Our youth is our human bomb and all of them are ranging age of 30-40 years seeking jobs but due to difficult economic conditions they are getting confused they must be at once provided Technical Education & Skill Development to meet global standards for overseas employment again our PM can use his personal relations to promote exports of skilled Labour. We are paying extra cost on dollar at every stage if we give some bonus to overseas remittances on bank transfers the remittance of 20 billion will touch 60 Billions in a year. Oversea employees need more cash not bonus cards on their remittances. Give some more respect to them Bank Bonds of Pakistan be floated for 3/4 billion dollars collection and returnable in ten years time will be easy to return.
