musharraf’s critics blame him for causing power crisis. these critics dont know their head from their $%$. here is a background of power crisis:
when musharraf assumed the presidency, pak govt was bankrupt. budget deficit was running close to 10% of gdp which meant that govt did not have the money needed to install new power generation capacity. even small power projects cost billions of dollars which means that even now, govt cant build power plants from its own resources despite govt’s finances being in much better shape. unfortunately since the new govt has come to power, govt finances are once again on a declining trend and govt is having a hard time meeting obligation to installed ipps. moreover, even if the govt some how managed to find the money for new power plants, country does not have the foreign exchange to pay for it. power plants have to be imported which requires dollars. unfortunately pak reserves at this point cant even cover its yearly current account deficit.
since govt of pak does not have the means to build new power plants, onus falls on foreign investor since local investors dont have the necessary resources. since pak govt had defaulted on its debt at the end on ns tenure, no foreign investor in his right mind would have made the kind investment needed to meet pakistan’s power generation requirement. investment climate began to improve in pakistan by the middle of this decade and had the investment climate stayed on track, pak would be in position to attract significant investment in this sector. unfortunately due to political instability caused by ghaddar politicians and the media and jaahil awam, pakistan investment climate began to deteriorate last year and will soon reach pre-musharraf level. moreover with weakning of macroeconomic indicators, investors will require a much higher rate of return even if they are willing to invest in pak. given the slowdown in the economy, the expected rise in fuel prices and the rate of investment required, new power projects are commercially unviable meaning pakistani awam cannot afford to have electricity 24x7 like citizens of most other countries.
given that there is already a huge power deficit in pak and that no new capacity will be coming on-line in the next 3-5 years and the demographic trends, power situation is pak is going to reach dire proportion - much much worse than anything seen right now. govt can off course prevent situation from getting to that stage but chances of that happening are about the same as the chances of nest govt holding free and fair elections.
while the scenario looks bleak for pakistan, i am confident that pakistani army wont let the country down. these politicians should make hay while the sun shines because within the next couple of years army will step in again and next coas wont make the same mistake that musharraf did.
So summing up, youre hoping the next dictator in line does not turn out to be a buffoon like Musharraf.
If Musharraf was buffoon, then what about the guy who signed a paper agreeing on a 10 year exile, because he was told that 10 years would be changed to 5 years soon. absolutely brilliant.
This seems to be the most telling line in this whole rant: jaahil awam and ghaddar politicians and the media. Kinda tells us how smart the author is and how dumb the nation of 160 million people is. Poor Musharaf… stuck amongst legions of morons.
Even the last paragraph that was supposed to be filled with uplifting message fell kinda flat. Army appears to be the sole savior of this country. Everyone else is just there to mess things up. Hail the next COAS!
musharraf's critics blame him for causing power crisis. these critics dont know their head from their $%$. here is a background of power crisis:
when musharraf assumed the presidency, pak govt was bankrupt. budget deficit was running close to 10% of gdp which meant that govt did not have the money needed to install new power generation capacity. even small power projects cost billions of dollars which means that even now, govt cant build power plants from its own resources despite govt's finances being in much better shape. unfortunately since the new govt has come to power, govt finances are once again on a declining trend and govt is having a hard time meeting obligation to installed ipps. moreover, even if the govt some how managed to find the money for new power plants, country does not have the foreign exchange to pay for it. power plants have to be imported which requires dollars. unfortunately pak reserves at this point cant even cover its yearly current account deficit.
Some literate person also forgot that Pakistan was under many sanctions post May 1998 (Nuke test), there was big price for Pakistan to pay.
pakistanis might think otherwise but for civilised nations, country going bankrupt is a sign of shame. the fact that pakistanis keep voting for leadership that has bankrupted the country is an apt comment on the intelligence of pak awam and the media which supports these politicians.
Some literate person also forgot that Pakistan was under many sanctions post May 1998 (Nuke test), there was big price for Pakistan to pay.
wrong. pakistan was bankrupt even before sanctions were imposed. foreign currency deposits were frozen right after the nuclear explosion. moreover sanctions did not apply to foreign investment and same set of sanctions were imposed on india which did not default unlike pakistan.
wrong. pakistan was bankrupt even before sanctions were imposed. foreign currency deposits were frozen right after the nuclear explosion. moreover sanctions did not apply to foreign investment and same set of sanctions were imposed on india which did not default unlike pakistan.
Don't compare Pakistan with India, they are different animal, we are different. Comparing India and Pakistan is now comparing apples with oranges.
Re: last person to leave please turn the lights off
^^ and these bunch of baboons made comparison of india with Pakistan , even when zia left the world, Pak rupee had more value than Indian one, later it became other way around.
criticise mushy for his bad deeds. but dont forget the baboons who loot and plunder, dont ignore them for Allah sake!
the fact that pakistanis keep voting for leadership that has bankrupted the country is an apt comment on the intelligence of pak awam and the media which supports these politicians.
So you are convinced that 160 million "pak awam" are jaahil, anyway. Its these 160 million people who have to live there, and if they are voting repeatedly for these "crooks" and "corrupt" politicians, then they are seeing something in them, that you are not seeing. And quite frankly if 160 million people collectively decide to commit hara-kiri, is there really you can do about it?
^^ and these bunch of baboons made comparison of india with Pakistan , even when zia left the world, Pak rupee had more value than Indian one, later it became other way around.
I'm not an expert of economics, don't know what Ziaul Haq's regime did. His mistakes which were then repeated by Benazir have pushed us to this state. Had they stayed away from venturing into Afghanistan without putting Pakistan into order first we'd not be seeing this day of chaos in our own backyard.
criticise mushy for his bad deeds. but dont forget the baboons who loot and plunder, dont ignore them for Allah sake!
I do agree that there were some good changes during Mush era and I am against these baboons/buffoons (NS and AZ) but Mush has only shown us some cha-ching, what else?
Re: last person to leave please turn the lights off
factual posts on a website like this are a waste of time but just to set the record straight, by the time shaukat aziz's tenure came to an end, the finances of gop were in a better shape than the finances of goi. for the 2007 fiscal year, pak's debt/gdp and budget deficit/gdp was lower than that of india's despite the fact that pak govt was spending more on per capita basis than the govt of india. in addition in 2007, pakistan attracted more fdi on a per capita basis than india did. india's external position though was stronger than that of pak.
anyway all this is moot now because musharraf will very soon be history and if history is any guide, under the current govt, pak will have a hard time keeping up with even bdesh which incidently continues to be controlled by the army. not that i am complaining because thanks to the wisdom of pakistani awam i now have a fool proof way of making money. selling pakistani assets now is a sure fire way of making a quick buck. and no, i feel no shame in betting against my country because hey, 160mn people cant be wrong!
Re: last person to leave please turn the lights off
^ Unless you are selling short, its unclear how you actually make money simply by selling your assets in an economy that is already in the toilet. But I digress. Its your money, I am sure you know what you are doing. :)
By the way, it was good to know that in 2007 "the finances of gop were in a better shape than the finances of goi". Such uplifting memories are always a joy to read.
