BB sold Surrey Palace, NA told

[Spock]

Re: BB sold Surrey Palace, NA told

*He urged the former owner of the palace — indirectly asking Benazir Bhutto — to donate the hefty amount to the government to eradicate poverty that already was on the decline. *

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*Interesting indeed, BB donating money to musharraf to be pardoned... *

[Aalsi]

Re: BB sold Surrey Palace, NA told

@Sa1eem

In Pakistan direct tax has increased more than 3 times (110 billion rupees in 1999 to today 333 billion rupees in 2007) and so did overall federal tax collection that was 308 billion rupees in 1999 is over 846 billion rupees in 2007 (even though import duty got decreased substantially during last 8 years). Actually this year it would be over 1000 billion rupees. Sales tax that shows how people are spending increased from 72 billion rupees in 1999 to 309 billion rupees in 2007 (around 3.5 times)..

Mashallah. That is indeed very good news. :k:

God Bless President Musharaf and hos govt. for their economic policies. God Bless Pakistan.

[yazdi]

Re: BB sold Surrey Palace, NA told

is that so? lets ask some ppl who work in banking in pakistan because I am fairly certain there is a way, or..three to check financial worthiness of individuals.

Pakistani banks are not as liberal as your typical banks in UK or USA as far as consumer loans are concerned...Collaterals have to be very secured and much in excess of the amount loaned in Pakistan.....banks check the official income declared and tax paid and assess the repayment capacity of the individuals. All in all it is a very effective way of lending and the bottom line is bad debts are almost non existent or minimal as far as consumer loans are concerned...

The real casualty in all this system is economic progress of the country as the banks do not lend enough to give stimulus to many important sectors such as housing I mentioned earlier. The problem is not bad debts as far as consumer loans are concerned, the problem is many people are not able to get these loans to uplift their living conditions which can give in turn a big boost to the economy by increasing consumption...

By the way I am not a banker but I do deal with the banks extensively....and socialise a lot with the banking circles in Pakistan.