Saturday, September 27, 2008

Pakistan is Teetering at the Brink of Bankruptcy

Friends of Pakistan Conference unveiled an economic support package to avert possible bankruptcy.

Pakistani officials claim that “reserves are falling fast and if forward liabilities are included, the real reserves may go down to $3 billion. This cannot meet the import bill of one whole month”.

If Pakistan is struggling to barely meet one month import bill, who is going to pay back debts, if misses the deadline, may lead to bankruptcy on overdue payment. This means stiff loan conditionality, higher interest rate on loans and negative rating by Standards & Poor’s and Moody’s.

Recent reports in the western media indicate that Pakistan needs as much as $10 billion to avoid an economic meltdown.

I just want to ask few questions to so called intellectuals with dumb head, how you can fight the world esp. US, with nothing to eat, with economic meltdown.

Few analysts claim that lets fight, Pakistan can eat Onions & Bread (Peyaz aur roti)! Does Pakistan have enough money to give Peyaz aur roti to its people?

Beggars are not choosers!!

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