Pakistan’s Economic Crises & “The Short-Cut Tareen” Formula
By Farid Masood • Oct 28th, 2008 • Category: Politics • One Response •Mr Shaukat Aziz, Ex-Prime Minster of Pakistan, became Prime Minister through a shortcut route, due to it he was nick named as ‘Short-cut Aziz’. His policies were to snatch hard earned money of the nation through various offers from the banking sector (credit cards, loans etc) and to strengthen the banking sector, coz he was a banker not an economist.
Time and again many writers were writing about the poor <a href=“http://www.pakspectator.
Mr Shaukat Tareen, Advisor to Prime Minister, appeared on the media (a few days back) and gave his plan to revive country’s economy. But concerns are there that how a banker may revive an economy like Pakistan’s. Dr Manmohan Singh has vast experience as an economist, he is not willing to work more as he worked a lot during his career but India needs his services, why they don’t appoint a banker as Prime Minister or an Advisor to Prime Minister. The answer is that they don’t want foreign banks and money lending institutions to control their economy.
Mr Shuakat Tareen’s formula of three option ‘A’,'B’ and ‘C’ was put against the nation a few days ago and the next day he himself was saying that we have to choose option ‘C’ that is borrowing from International Monitory Fund ‘IMF’. The reason was option ‘A’: ‘Friends of Pakistan’ have refused to lend directly to government, option ‘B’ is already a weaker one. These plans are to go to IMF via ‘Bhatinda’ and designating this option ‘C’ is ‘Short-cut Tareen formula’ means the shortest way to bring easy money. If we are 170 million people and government borrows (e.g.)10 Billion dollars or so then every Pakistani will become under loan more than Rs 6,000. The regulation enforced afterwards from IMF to collect their money will effect the nation which is about to opt for two time foods a day instead of three times due inflation and food, power & fuel prices gone beyond their purchase power.
On the other hand government is trying hard to privatize ‘Qadir Pur’ Gas Field (the biggest gas field), which is a <a href=“http://www.pakspectator.
Why the borrowing is the easiest option for us? Why businessmen earn in Rupees and transfer in Dollars and Euros to foreign banks? Asking our workforce in other countries to send maximum remittances through banks or Importing useless commodities is justified? Our motorcade of black Mercedes really tell that this country remained surviving on borrowed money? Does sacrifice is only for the nation or government may also sacrifice their luxuries?
What about selling of government buildings of luxury design?
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Farid Masood
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Nice post……
There is lot of difference between Shoukat Aziz and Shaukat Tareen. Shaoukat tareen has proved himself by reviving few banks and sick units. Union Bank was built on his vision and being a customer of Union bank and Citi Bank…. I least found any big difference in services of both. Union bank was Pakistani bank but it was competing with Citi Bank… and selling it at 4 times of its book valus is proof of it.
Now come toward borrowings… What Pakistan have to export??? If you don’t have exports then even small borrowings can take country in hell. Trade deficit is increasing and increasing and it can’t stop because Pakistan is second MADE IN CHINA.
One man can do nothing… if all leaders and people sitting on higher positions are least worried about future. I think, Shoukat Tareen took a big risk by accepting this position. his past record is good and this will change his goodwill to badwill.
I have no problem with this guy. Worst is already done so he has nothing else to else… I hope some thing good will be done…if government will take initiatives, as he will suggest.
I personally know one professional… who is economist, qualified from Harvard University and Pakistani. He has big contribution in making economic policies of Kazikistan and they praise that guy. Shoukat Aziz requested him to join his team and do some thing for his own country. he spent 2 years and in last he gave resing and went back. he said me that Saleem, iss mUlk ka khuda he hafiz hai… Yeh loog iss ko nahi chalnay dain gay. But he said that Shoukat Aziz is not as bad as projected. He discussed many things about govt policies and criticized that no body really want change here…they only speak but do nothing.
Anyway I can just pray and can contribute as per my power in the growth of country. Allah Bless Pakistan.