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IMF-designed budget to suppress the Pakistani economyb

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    IMF-designed budget to suppress the Pakistani economyb

    The Pakistani government has conceded to International Monetary Fund (IMF) demands to impose crippling taxes on the Pakistani economy, on the pretext of loan repayments. After talks with the Pakistani government well before the budget, the IMF declared, "On the fiscal side, a significant improvement in tax revenue remains a key challenge...This will require the further reduction of tax exemptions, subsidies..." (IMF News Brief No. 02/25, 27 March).

    As a direct response to IMF demands, the budget announced increased targets for direct and indirect taxes, as well as more levies on petrol. The government even hides the IMF's exploitation by spreading tax increases throughout the year. Before the present budget the government implemented the General Sales Tax (GST) on medicine. And after the recent budget, the government will announce a full levy of GST on electricity, as agreed by the Finance Minister with the IMF on 12 March.

    The West knows well that Pakistan has one of the greatest economic potentials in the world. By demanding more and more taxes, the IMF ensures that Pakistan cannot develop an independent economy and so must remain economically enslaved to the West. Pakistan's industry is handicapped by the increased prices of gas, electricity and petrol. And Pakistani agriculture is badly hit by more expensive seeds, pesticides and urea. Meanwhile, ordinary Pakistanis will continue to suffer because of the increased prices of essential goods such as medicine, ghee and edible oils.

    Saif, can you list some reasons why you think Pakistan has a great economic potential?


      Arjun, back in the 50s and 60s, Pakistan was quoted as a success by other countries... Although I admit the Korean war and the disovery of natural gas at Sui gas helped us alot (every house in pakistan has a direct gas connection, Indian doesnt), but our reserves shot up. If the economy could have shot up at that time, it could do so now. At that time there was also political instability and intriges, espcially in the 50s, when so many Prime Ministers were coming and going that Nehru once joked that he didnt change his dhoti as fast as Pakistan changed its Prime Minister...


        I'm all against loans from IMF and World Bank. I didn't like the idea Musharraf taking loans from the World Bank recently Though, it boosted up our forex resevers up to 6 billion dollars for the first time in 50 years. It should have to reach more than 50 billion dollars.

        In order to get rid of foreign debt, Pakistan has to raises the price of basic needs of life, which is a PROBLEM.

        Only one way is possible. Trade relationships with Western Countries in order to keep mutual balance.



          Pakistan has a great potential....first there is alot of enterpurial spirit...second... we have relativly good amounts of resources...third...we are strategically located as such we can serve the Chinese as well the central asian states..our traditionally cordial relations with oil producing arab states gets us oil on concession...the only reason we are not able to achive good economic is due to bad economic policies of the ZAB years..the lawlessness which emerged during the Zia years and is still happening...and we our rulers are still not overcoming the colonial methods of dealing with the citizens... If we can have a sound educational and a strong judicias branch there is no reason why we can't emerge as the next great economy



            Pakistan has many factors in its arsenal that make it a potential strong leading state with influence. I will give just a few examples.

            Pakistan is a large country with a strategic locations.

            If we look at oil – Baluchistan and Kohat have an abundance of it – such that 23 foreign companies are drilling for oil as we speak.

            Pakistan has the largest untapped coal deposit in the entire world in Thar (tarr).

            As for gas, there are massive reserves in the North of Pakistan.

            In addition to all of these, Pakistan has the capability to generate energy using nuclear power, hydroelectric power and solar power.

            If that wasn’t enough, Pakistan has almost every single mineral that Allah (swt) bestowed on the earth.

            For example it has an abundance of copper – and it is well known that where copper is found so is gold.

            In addition, Pakistan has been blessed with fertile lands on which almost all fruits and vegetables known to man can flourish.

            So as you can see pakistan is self sufficent it just the case, that the old colonial system is still there holding back the potential. The system needs to be changed and reliance on the likes of america needs to be cut as they supress and hold pakistan back.


              IMF World Bank NGOs

              Need to get out of pakistan why does'nt pakistan use all these resources that is posted in thread and become strong nation!

              Pakistan has hundreds and thousands of graduates from universities why does'n it utilize them to build strong economy and strong workforce. At the moment i see all people with skills leaving pakistan and heading for America and europe.

              Pakistan need to get a grip before it is too late it has everything in its hands gold, minerals, manpower, strong army what more do you need!


                Jihadi dreams have a price! The jihadism from 1989-2001 has made Pakistan beg for every dollar from IMF.

                12 years that turned pakistan topsy-turvy.

                From a poverty level of 27% in 1989 to 43% in 2000

                Growth rates of 5.5-5.7% in 1989 to 2.7% in 2000

                Jihadi dreams have a price.

                but believe me, changes are already happeneing. As Musharaff decides to hang up his jihadi dreams, the economy is slowly speeding up. So, IMF will only strangle you for the next 5-6 years. After that Pakistan will easily come out this mess (as India did in 1991)

                [This message has been edited by kumarakn (edited June 21, 2002).]


                  kumara boy do you have the number of bhokas in India?