75 years since the inception of Pakistan, its debt liabilities are roaring at Rs.53.5 trillion. Imran Khan’s government alone have to their credit a major chunk of this accumulated loan, of Rs.23.7 trillion – much more than the PPP or the PML-N’s total tenures in government. The PPP regimes took a debt of Rs.8 trillion, whereas the PML-N took 10 trillion. This includes debts from China, Saudi Arabia, the United Arab Emirates, others and the IMF.
The debt burden has resulted in soaring prices, enormous inflation, unprecedented devaluation of the rupee against the dollar, breaking the backbone of the common person and virtually crippling business, especially the foreign/export and import-related business enterprises.
Respite of some kind came only thanks to the foreign remittances of $ 23.12 billion, which rendered an artificial reserve of $13 billions to the IK government.
Can IK deny the above-mentioned figures? In the long run, his rhetoric (using Islamic fundamentalist slogans and the US conspiracy theory narratives which has been incessantly denied by Powers That Be and all responsible institutions of the state, including the Ambassador of Pakistan in the United States).
And yet, these narratives seem to sell in Pakistan. In the past, crowds have responded just as well to many others who history has condemned as villains and demagogues, responsible for getting people killed and maimed through their false and concocted rhetoric/narratives.
Pakistan’s economy presently is at such a critical juncture that rulers and ex-rulers alike ought to speak the truth, relying purely on facts and figures. If they are sincere to the people, they should speak about their respective performances, rather than using their past charisma etc.
Or are they waiting for a Sri Lankan type situation, where there are fuel riots going on, as people have to wait for days together to get some quantity of fuel? Around 80% of Sri Lankans are barely surviving, because of lack of lack of nutrition and other essentials.
Pakistan will never be a LANKA
Lanka was doomed by the Disasters of Gotabaya
Banning Chemical fertilisers – which led to dramatic declines in rubber and plantation yields,and rice and other food crops – which in turn,led to food shortages,crash in exports and expensive food imports and loss of FX – He says that it was done to SAVE FX ! (Who gave him that advice)
Slashing VAT by half,and lowering Taxes on incomes
Making up loss of tax revenues,by ISB of short tenor and high ROI
Using FX reserves,to pay off ISB
Sugar and Coconut Oil Import duty scam,to benefit his pets
USING PRECIOUS FX TO DEFEND THE SRI LANKAN RUPEE – WHICH SHOULD HAVE BEEN ALLOWED TO COLLAPSE, A LONG TIME AGO
BUT THE REAL DISASTER WAS THE FERTILISER BAN WHICH CAUSED FOOD IMPORTS AND REDUCTION IN PLANTATION EXPORTS – IN A COVID TENOR – WHEN TOURISM WAS DOWN (which led to losses of Billions of USD).dindoooohindoo
AND THIS COULD NOT HAVE BEEN HIS IDEA !