Re: thank you shaukat aziz
Bhai ... these 'may na manoo' group of journalists in sold out media would never accept what truth you mentioned.
Just because some people (certainly not on this forum ... I mean amongst journalists and others of so-called civil society :)) do not like one person (Musharraf because he is beating hell out of anti-Paksitan fasadis) and have nothing to complain (they do not like to openly say that they are fasadi supporters), these people lie and do propaganda against Pakistan based on lies. I do not know what to consider them ... very patriotic or ... completely opposite :)
Just look at some of their statements full of lies and propaganda and think (I am answering their propaganda here). Now what one can say about that. Let me point out their lies and propaganda.
During Musharraf tenure there was KSE scandals of 15 billion dollars plus.
In 1989 (when Zia died) KSE was worth around 3 billion dollars (though KSE-100 index later ... taking it back, KSE-100 index was around 600).
After 11 years in 1999, when Musharraf came to power, KSE was worth around 5 billion dollars (KSE index was less than 1200).
After 8 years of Musharrf rule ... in 2007 ... KSE is worth 70 billion dollars (KSE index is above 14000).
Now how can one blame a person of 15 billion dollars scandal when that person inherrited stagnant stock market going through depression ... and that was valued around 5 billion dollars ... but his government worked the economy so hard that stock market companies start doing booming businesses .... and stock market in 8 years reached 70 billion dollars level?
Best part is that, government owns most of the shares and thus in 1999 value of shares held by government was around 2 billion dollars ... that now is worth around 30 billion dollars (Nation gained 28 billion dollars from this boom) ... Divident from these shares to government also increased from less than 100 million dollars in 1999 to around 2 billion dollars in 2007 ... plus good management means government is spending less on bailing out government held run down companies .
[That is different matter that these people do not know how stock market works as if they knew they would not have said that as 15 billion dollars scandal could not have happened in Karachi stock market with such low total value ... as shares of such value (15 billion dollars) in KSE level stock market never changes hand .. because over 90 percent of shares in KSE are dormant shares ... held by big institutions, banks and government].
**All areas of valuable lands belong to Army: **Another lies ... because first of all what belongs to Army is not individual assets but it is government assets .. second is that area becomes valuable if it is secured, managed good and people demand for it increases. Whatever Army acquires, they manage it good and its value increases. Nevertheless .. I do not think that Army took a lot of lands after Musharraf took over and most lands they have is same as what they had before Musharraf took over ... that includes land in Islamabdad that Army acquired ages ago when they were worth little.
Underhand, dirty privitization of national asstes to favorites: Another propaganda and big lies ... mostly spread by corrupts who use to do it. During corrupt political periods all privatized units were sold cheaply to known and none went on open bidding. That is the reason Pakistan was bankrupt economy as those thugs were looting and plundering all the time. After Musharraf came to power, all units are given on open bidding at very high prices ... for instance KSE was sold at price several time more than its market value. PTCL was sold at Rs 120 per share when in market share price was Rs 40 (actually it was Rs 15 in 1999 and that is the price Nawaz sold PTCL shares).
Government was also selling Steel mill to highest bidder in open bidding. If the corrupts (like NS) wanted to buy than they could have made bid, but price was too high. Actually, Pakistan steal was a bank rupt company in 1999 and was worth negative (even with so many lands with it, as it was giving losses in billions). It was Musharraf government that made it profitable and was selling it at good price.
Let discuss sale of Pakistan steel that corrupt Iftikhar did not understood. Pakisatan was selling 75 percent shares of Pakistan steel (on 4547 acres ... land actual steel mill is built as all extra lands, around governmetn took it back from sale) for around $362 million dollars. That translate to around $500 million for the whole steel mill. This price for a steel mill with very little output compare to world steel mills, that was full of useless and uneducated work force ... many of them political workers ... staff more than requirement of the steel mill ... with most workers getting job security too, and mill running on loss most of its life ... was really a good price to me.
Now compare that with British Steel (7th largest steel milll in the world on vast track of British expensive lands ... 1000s of acres ... much more expensive than Pakistani lands) ... When British government privatized British Steel, government got much less than what Pakistan government was getting for Pakistan steel. I think British government got around 400 million dollars or less ... (around £250 million pounds at that time) for 100 percent shares of British steel ... with no worker's job security. Even toay, 100 percent of 'British steel' is worth around 600 million dollars (almost similar price in pounds what it was privatized).
Now think yourself that Pakistan was getting good price or what retarded and corrupt ex-CJ was talking about was right, backed by corrupt politicians who used the mill to give free wages to their workers, many political steel mill workers who never work, and corrupt journalists in corrupt media was right. In the end, Pakistan is left with Steel mill and I am doubtful that Pakistan would ever get that price again ... plus most likely when corrupt politicians would come ... they would again fill steel mill with their lazy political workers and in future Pakistan tax payer would again start paying to keep the mill afloat (actually before Musharraf came to power, Steel mill was costing tax payers millions of dollars every year to run the mill ... and it seems that is what Pakistanis want, to let political workers have free ride at their expense).
Thank you for clearing many misconceptions people have.