Taste of new government on economical front

Society Pakistan & World Affairs
41

I do not know what to do or say, but every day is bringing new nadir in the plight of Pakistan economy. After record dive last week, today KSE showed a new nadir.

**Karachi Stocks down 493.11 points: **KARACHI, June 23: At close of trading, the KSE-100 index was at 11162.17, down 493.11 points. (Bureau Report) (Updated @ 14:15 PST)

**Forex update: **KARACHI, June 23: The Pakistani Rupee was traded at Rs 68.6 to the US Dollar in the open market. (Bureau Report) (Updated @ 14:15 PST)

Since government has changed, KSE saw several near 500 points fall. KSE capitalisation was $75 billion on 22 Feb 2008. It was same on 23 April 2007 (around $75 billion). On 23rd June 2008, KSE capitalisation is worth $50 billion.

Here is how Pakistan reserves got depleted since Oct 2007 (last month of Shaukat Aziz in government). Most worrying is that, reserves that was increasing every month since Nov 1999 (when Musharraf took over), a continuous increase for around 96 months, started going down very fast every month since Oct 2007 and has not increased a single time in last 8 months (it depleted very fast once new government took over on 1 April 2008).

Just see how things changed once Shaukat Aziz left the scene in early Nov 2007.

1998-1999 = $2279 million
(This reserve went down to less than $1000 million by Oct 1999).

1999-2000 = $1967 million (Year Shaukat Aziz joined the government)
2000-2001 = $3219 million (increased)
2001-2002 = $6431 million (increased)
2002-2003 = $10719 million (increased)
2003-2004 = $12339 million (increased)
2004-2005 = $12623 million (increased)
2005-2006 = $13136 million (increased)
2006-2007 = $15611 million (increased)
(year ends June 2007)

July 2007 = $15723 million (increased)
Aug 2007 = $16106 million (increased)
Sept 2007= $16145 million (increased)
Oct 2007 = $16486 million (increased)
(Reserve increased by $341 million in Oct 2007, last month of Shaukat Aziz in government and last month reserved increased. Once Shaukat Aziz gone, decrease in reserve started)

Nov 2007 = $15807 million (decreased … first month of Caretaker govt)
Dec 2007 = $15589 million (decreased)
Jan 2008 = $14657 million (decreased)
Feb 2008 = $14031 million (decreased)
Mar 2008 = $13232 million (decreased)
April 2008 = $12362 million (decreased … first month of PPP/PMLN govt)
May 2008 = $11258 million (decreased)
13 June 2008 = $10909 million (decreased)
Recently, I have heard that reserve has already gone down below $10 billion.

I do not think that Pakistan could afford such corrupt and incompetent people in government. Someone have to act quickly before Pakistan economy completely melts down (I mean those with guns).

42

Re: Taste of new government on economical front

Saleem, Musharraf has already blamed the previous Govt for the economic crisis, no point in posting these long blame game paras.

43

It is lie that Musharraf has blamed previous government for economic crisis. I do understand that you hang around with people in PML(N) and they are mostly crooks and liars, so you may have heard such news full of lies. Anyhow, even if Musharraf had said that (though he did not) then still it would have been wrong blame and I do not have to agree with it as I do not agree with many things that is done by Musharraf. For instance:

President Musharraf has done wrong by giving pardon to convicted terrorist Nawaz waiting to get hanged. I think that this liar did not deserved to get that pardon and thus I believe Musharraf did wrong by saving the life of this crook and letting this retard to live. Similarly, I do not agree that NRO should have got issued as I believe that anyone who got accused should get absolved of that accusation through proper channel after investigation and court judgment. So, to me all including Zardari benefitting from NRO was wrong.

44

Re: Taste of new government on economical front

lol I dont know how pardons and NRO came into this discussion but check this out Saleem :hehe:

RAWALPINDI: President Pervez Musharraf, Wednesday said he is not responsible for the economic crisis presently confronting the country.

Talking to senior journalists and columnists here, he said the previous government may be held responsible for the economic downturn.

“My policies and steps be viewed in the backdrop of circumstances that existed in the country at critical point in time in the past,” President Musharraf maintained.

He said the democracy is under no threat and that “why would I want to rip the sapling that I myself planted.”

“No conspiracy is being hatched from the Presidency,” he added.

45

the last time i checked he wasn't considered a terrorist, maybe to you anyone against your flawed analysis is a supporter of PML(N) which i think is pretty pathetic because it just shows you lack confidence in your flawed analysis that you end up resorting to name-calling.
However, in reality, MQM is a political party that is considered a terrorist organization internationally. Please ask me for proof. I'd love to post it. :D

46

You have not replied to my last post, where I asked you to declare after witnessing Allah that you did not lie when you claimed that people voted against Musharraf, as if NRO was result of a deal than PPP votes are not anti-Mush vote. :). Here is the post: #20](http://www.paklinks.com/gs/showpost.php?p=5892885&postcount=20)

Anyhow, similarly here also you are again lying or probably claiming wrongly due to ignorance that Nawaz is not a terrorist. Fact is that, Nawaz is convicted terrorists. He got convicted by ‘Anti Terrorist court’ (court that Nawaz himself started in 1997) on hijacking charges as terrorist and was given death sentence by hanging. He was waiting to get hanged when Musharraf gave him pardon and sent him to Saudi Arabia.

I disagree with Musharraf decision, as many convicted terrorists got hanged due to sentence of this court during Nawaz 1997-1999 rule, and thus if this court convicted Nawaz of terrorism and given him hanging sentence then he should have got hanged too. His pardon was injustice to thsoe who got hanged by this court during Nawaz rule of 1997-1999.

PML(N) is only Party in Pakistan that has convicted terrorist (Ameer-ul-Qazibeen wa Ameer-ul-Mujrameen) as their leader.

47

Re: Taste of new government on economical front

Saleem bhai, please reply to my post as well :hehe:

48

Brother think. Musharraf is talking about caretaker government as they did not take appropriate steps that could have stopped some present economical rut. Still, you should realise that Musharraf is trying to make life of present government as easy as possible so that they can come to right path and start governance with commitment and responsibility.

However, in Musharraf’s statement there is word ‘may’ and that means possibility and not certaianty. Hence: zoor kiss per hua .. ‘may’ per … English ka ‘may’, not Urdu ka ‘may’ :slight_smile:

49

Seem like you not only have flawed analysis but your memory doesn’t serve you well either. Neither does your truth-ability.

Here, let me refresh your memory:

http://www.paklinks.com/gs/showpost.php?p=5892366&postcount=11

my response to that was:

http://www.paklinks.com/gs/showpost.php?p=5892710&postcount=15

then you again:

look how you ran away from the accusation, and tried to hide under the veil of ‘Swear’…pathetic! :slight_smile: (Notice the bold parts, how you contradict yourself and totally seem to forget that you go around accusing anyone with a different opinion a liar. tsk tsk tsk…

Here’s my REPLY to it (which you say i never replied to)-Go check it out and please post some more of your flawed analysis and some more prophecies about who’s going to be the next President!
http://www.paklinks.com/gs/showpost.php?p=5894854&postcount=23

50

you are hilarious! :bizz:So what if I show you another statement of Musharraf where he is blaming Shortcut Parachute Aziz? I am surprised you didnt say Geo made that up and is on Nawaz’s payroll as well :bizz:

51

Well, read your post … have you replied? I am not interested in BullShi*ts. I am still waiting for your reply making Allah your witness, so that I can apologise to you believing that your statements were due to ignorance and you did not knew that NRO was result of deal :slight_smile:

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Re: Taste of new government on economical front

Being a part of NRO does not mean you are pro-musharraf. It just shows how corrupt and low Musharraf is, to even pass something like that in hopes that in-coming parties will spare him.

Try again pal!

BTW, i have no issues with your flawed analysis and prophecies, i enjoy them. It's good for laugh.

and let me know if u want proof of other countries ejecting MQM affiliates, because they're considered a terrorist organization. I'd love to enlighten you and take you out of your ignorance, and i won't even make you swear your allegiance. Because i'm not as shallow as you.

Carry on!

Khattichic!
53

Spock, are you trying to be funny?

As far as I know, Musharraf never made such foolish statements that Shaukat Aziz government was responsible of Pakistan present economical rut. On the other hand, I also wrote that even if Musharraf had made such foolish statements, still for me it would have been irrelevant, as knowing enough about economy, I know that Shukat Aziz policies as well as his handling of economy was very efficient and that he is not responsible of present day economical rut.

What I can see is that, only place he lacked in planning is on not forcing for fast increase in electricity generation and addition of electricity generation in Pakistan was less than required. Economy increased too rapidly causing increased electricity demand, but government did not took appropriate steps in anticipation of this expected increase in demand, maybe because his government did not thought that rapid increase in economy would rapidly increase electricity demand too, as happened. So, I am not accusing present government of electricity shortages, but all other economical rut is due to present government.

54

Oh, I never knew that you are naive too. :) If NRO for PPP and Musharraf does not mean PPP getting included in the team of President, then what NRO mean for PPP and Musharraf?

Only mentally incapables would think that NRO means nothing.

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Re: Taste of new government on economical front

NRO isn't only for PPP, is it? :)

Are all the political parties pro-musharraf then? How very naive of you!

Am I a social outcast? :(
Am I a social outcast? :(
56

NRO only forgives those who have pending or unfinished political cases that started before Oct 1999. Nothing done after Oct 1999 are part of NRO. Surprisingly, no cases against PPP were made during Musharraf period and most cases that got forgiven by NRO were against PPP, so they benefitted most.

If Musharraf was worried about corruption by his team then NRO would have included period after Oct 1999 too. Further, NRO only forgives politically motivated cases, not proper criminal cases. Hence, NRO is mostly PPP specific.

57

Well, if you believe that PPP contested election as anti-Musharraf party than why not make Allah your witness and say that? Believe me, I will apologise to you and would leave you on the judgment of Allah.

58

Here you go :hehe:

http://thenews.jang.com.pk/top_story…l.asp?Id=15440

ISLAMABAD: President Pervez Musharraf has said he had invited former prime minister Shaukat Aziz thrice to come back to the country and defend his much-criticised economic policies. However, Shaukat refused and said he feared for his life.

The president expressed these views while taking to columnists and editors here at the Presidential Camp Office on Wednesday. The president disclosed the former prime minister had refused his offer and said he would not return until he was given concrete guarantees and he feared that his life would be threatened if he returned.

The former premier thinks that the incumbent PPP government might put his name on the exit control list after which he would be ‘dumped’ in Pakistan, the president said. The president said Shaukat Aziz also fears for his life as his political opponents are linking his name to the Lal Masjid saga and the Balochistan operation. He feels that when he was the prime minister a lot of law enforcement agencies were responsible for ensuring his protection but now when he would return the government would not provide him any security cover.

When asked why he feels that Shaukat Aziz should return, the president said he feels the former prime minister should return and defend his policies as lots of fingers are pointing at him and should not be scared and have trust in Allah, who is the protector of all.

However, the president refused to comment when asked if Shaukat Aziz could be summoned back forcibly. When asked wouldn’t the government provide Shaukat Aziz a security cover since he was the former prime minister, the president said, “Why not. When the tenure of this government ended, Shaukat Aziz remained in Karachi for a while without any security cover and nothing happened to him. No attacks were made and I don’t think now anything would happen to him either, so there is no harm in coming back.”

The president said he is not responsible for the economic crisis confronting the country. He said the previous government may be held responsible for the economic downturn. “My policies and steps should be viewed in the backdrop of circumstances that existed in the country at a critical point in time in the past,” Musharraf maintained.

Musharraf strongly rejected allegations of a conspiracy against democracy being carried out in the presidency and said he was a strong supporter of democracy. He also rejected allegations consistently being imposed by a single party, maintaining he was witnessing Pakistan’s future as quite bright.

He said he has worked for the promotion and development of democracy and embraced the people’s mandate when he was Army chief. However, he ruled out any notions of quitting the office of president.

He further said he himself planted the tree of democracy in the country, which would soon bear fruit, while strongly ruling out the notion that he was unstable or any conflict existed in the Army. He said parliament which was the real forum had elected him as president.

“If he is impeached in parliament, then it is the right of parliamentarians,” he said. Defending his Nov 3 steps, he said if emergency was not imposed at that time democracy would have been derailed, adding he has no personnel vengeance against anybody.

The president said the country was passing through a very critical time and he was performing his constitutional role to pull the country out these crises. About terrorism and extremism, he said he would not compromise on Pakistan’s national interests. In response to a question regarding judges’ reinstatement, he said the situation was not yet clear enough for any comments or actions.

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Re: Taste of new government on economical front

By previous govnt, did he mean the caretaker govnt or the previous previous govnt, i.e. shaukat?

60

Even though previous means the one preceded and that is caretaker government (ruled from early Nov 2007 to end of March 2008), still, from above article it is clear that Musharraf did not said that previous government is responsible for the economical downturn. It is retarded interpretation of ‘The News’ a part of ‘Jang-group of companies’ infamous for their lies and misinterpretations.

As for Musharraf expecting Shaukat Aziz to come and put crooks of present government on hook and expose their lies, it is good advice. But I can understand Shaukat Aziz problem too. Shaukat Aziz is not politician and is scared of the thugs and crooks of PML-N and PPP, so is thinking to stay away from the scene.