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After all the hypocritical statements coming from U.S.Z and NATO heads of state, it's now time that Pakistan should decisively quit the International Monetary Fund (IMF) lending program agreed in late 2008, once and for all. This can easily be done by winding up the Standby Arrangement that was signed by the traitors of PPPP with the Washington-based institution. A final decision on terminating the Standby Arrangement will be made by November, according to some very authentic sources.
Pakistan is yet to receive the sixth and seventh tranches of a U.S.Z $ 11.3 billion IMF loan, each worth about $1.7 billion. The government was drooling over the remaining two tranches of the IMF loan but due to the real pro-Pakistan power centers of the country, it is now considering not to take the second of these payments after completion of a fifth IMF review, meeting the outstanding loan conditions, and receiving the sixth tranche. The authorities discussed the option in internal meetings and a final decision about the termination of the Standby Arrangement would be made by November, keeping in view the economic situation at that time.
The IMF has withheld payments of the remaining installments of the present Standby Arrangement because the puppet government has failed to meet performance criteria. The Standby Arrangement was aimed at "restoring" financial stability through a tightening of fiscal and monetary policies to "bring down inflation", "strengthening" of foreign currency reserves, and "raising" budgetary revenues through the so called "tax reforms" but most of the global economy experts strictly on it that these promises were nothing more than pure and utterly hollow hoaxes.
Practically speaking, the IMF program, however, did cause a significant economic slowdown due to causing interest rates rise and the tight monetary policy it required as was the case in Yogoslavia just years before its downfall.
The Pakistani business community welcomed this decision to study future economic plans without IMF directions, arguing that the country’s economic managers have at last realized that dependence on conditional loans is not in the interest of the country. It urged that economic plans must be pursued without IMF assistance at all costs!
The country’s foreign exchange reserves increased last week to about $16.75 billion, despite the worst dacoits in history still remain in power. This is a clear sign itself that there are some untold forces operating behind the scene to guard Pakistan against their massive corruption and looting. It is enough to cover more than five months’ imports. Robust remittances from overseas Pakistanis and a narrower trade deficit had given the government confidence to consider a premature cessation of the IMF program.
The puppet government, however, wants to meet the remaining major conditions of the IMF program, including imposition of value added tax and the so called "reform" of the energy sector during the current quarter (October-December) so that it can successfully complete the fifth IMF review in October-November and cripple the economy of the middle / lower middle class comprehensively as per Richard Holbrooke's Yogoslavia doctrine.
The IMF executive board in September delayed completion of the fifth review under the Standby Arrangement as the most corrupt puppet government in Pakistan's history, had failed to meet some of the "performance benchmarks", including introduction of VAT from July 1. The government was forced to further delay the imposition VAT until November, and IMF doesn't like their puppets being forced by some secret pro-Pakistan forces.
An IMF mission is due to visit Pakistan this month to discuss implementation of the Standby Arrangement benchmarks but inshAllah nothing except khair and barakah await for Pak Sarzameen in the very near future.
Enticing Fury
Pakistan Cyber Force
After all the hypocritical statements coming from U.S.Z and NATO heads of state, it's now time that Pakistan should decisively quit the International Monetary Fund (IMF) lending program agreed in late 2008, once and for all. This can easily be done by winding up the Standby Arrangement that was signed by the traitors of PPPP with the Washington-based institution. A final decision on terminating the Standby Arrangement will be made by November, according to some very authentic sources.
Pakistan is yet to receive the sixth and seventh tranches of a U.S.Z $ 11.3 billion IMF loan, each worth about $1.7 billion. The government was drooling over the remaining two tranches of the IMF loan but due to the real pro-Pakistan power centers of the country, it is now considering not to take the second of these payments after completion of a fifth IMF review, meeting the outstanding loan conditions, and receiving the sixth tranche. The authorities discussed the option in internal meetings and a final decision about the termination of the Standby Arrangement would be made by November, keeping in view the economic situation at that time.
The IMF has withheld payments of the remaining installments of the present Standby Arrangement because the puppet government has failed to meet performance criteria. The Standby Arrangement was aimed at "restoring" financial stability through a tightening of fiscal and monetary policies to "bring down inflation", "strengthening" of foreign currency reserves, and "raising" budgetary revenues through the so called "tax reforms" but most of the global economy experts strictly on it that these promises were nothing more than pure and utterly hollow hoaxes.
Practically speaking, the IMF program, however, did cause a significant economic slowdown due to causing interest rates rise and the tight monetary policy it required as was the case in Yogoslavia just years before its downfall.
The Pakistani business community welcomed this decision to study future economic plans without IMF directions, arguing that the country’s economic managers have at last realized that dependence on conditional loans is not in the interest of the country. It urged that economic plans must be pursued without IMF assistance at all costs!
"Seeking loans for paying back installments of past loans is out of the question. Reliance on national resources to face the challenges is a better strategy, which would have multiplier effects in shaping up the future of Pakistan.”
Daily Times quoted Tariq Saeed, a former president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI).
The country’s foreign exchange reserves increased last week to about $16.75 billion, despite the worst dacoits in history still remain in power. This is a clear sign itself that there are some untold forces operating behind the scene to guard Pakistan against their massive corruption and looting. It is enough to cover more than five months’ imports. Robust remittances from overseas Pakistanis and a narrower trade deficit had given the government confidence to consider a premature cessation of the IMF program.
The puppet government, however, wants to meet the remaining major conditions of the IMF program, including imposition of value added tax and the so called "reform" of the energy sector during the current quarter (October-December) so that it can successfully complete the fifth IMF review in October-November and cripple the economy of the middle / lower middle class comprehensively as per Richard Holbrooke's Yogoslavia doctrine.
The IMF executive board in September delayed completion of the fifth review under the Standby Arrangement as the most corrupt puppet government in Pakistan's history, had failed to meet some of the "performance benchmarks", including introduction of VAT from July 1. The government was forced to further delay the imposition VAT until November, and IMF doesn't like their puppets being forced by some secret pro-Pakistan forces.
An IMF mission is due to visit Pakistan this month to discuss implementation of the Standby Arrangement benchmarks but inshAllah nothing except khair and barakah await for Pak Sarzameen in the very near future.
Enticing Fury
Pakistan Cyber Force
