New Electricity Plants in Pakistan

CONGRATULATIONS PAKISTAN. Decades pass and then ONE GOOD News ?
Pakistan HAS NO Money to BUILD future of PAKISTANIS. Pakistan needs FOREIGN AID investment from UAE to CHINA’s skills to build BASIC RUINED NEEDS of Electricity. And THEN will COME time to COLLECT electricity BILLS of these GENERATORS. In 20 years of OPERATION these PLANTS will have NO Spare Parts. Like RAILWAY of today.

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This is NOT proud photo of Pakistani ACHIEVEMENT !!! Just a ruined little electricity COLLECTION ability country thinking CHEAP future ELECTRICITY !!!
NO MULLAH, or DEAD ZIA ul HAQ or PPP or PML or PTI or USA or SAUDIA can PROVIDE you CHEAP CHEAP electricity. Its just BRAINWASH ruined MENTALITY that we even think ELECTRICITY is like a bus or car = Foreign QUALITY countries can send you on SHIPS. Price Controlled ELECTRICITY is like Pak Railway and Pak Schools = LISTEN = you get what you pay for. More Zias and more Osamas but no QUALITY. Look at Price Controlled RAILWAY and FAILED CHEAP SCHOOLS and HOSPITALS for majority of Pakistanis.

HEC publishes book on journalists’ corruption in Pakistan

 

Tuesday, July 23, 2013

http://www.dailytimes.com.pk/default.asp?page=20137\23\story_23-7-2013_pg13_8

 

HEC publishes book on journalists’ corruption in Pakistan

* Authored by Dr Shahzad and Dr Khalid, the book names journalists who took undue and illegal advantages
By Shabbir Sarwar

LAHORE: Corruption and misuse of power within press, acquisition of wealth and exploitation by journalists for personal gains are elucidated in detailed in the book “Press, Pressmen and the Governments in Pakistan: Mishandling of Power and Positions”, published by the Higher Education Commission of Pakistan.
Different cases of corruption of journalists such as acquiring financial gains, getting high official posts, multiple plots, and foreign trips are discussed in various chapters of the book.
The book has been published by the HEC Pakistan and authored by Dr Shahzad Ali, distinguished assistant professor of Department of Mass Communication Bahauddin Zakariya University, Multan and co-author Prof Dr Muhammad Khalid, Chairman Department of Mass Communication, University of Management and Technology, Lahore. The authors have dedicated the book to Habib Jalib calling him a “zealous revolutionist”, who believed that reticence is a sin’.
The book starts with discussing perception and notions about press freedom, as well as the media boom in Pakistan over the last decade. The opening remark of the book is a quote by Surin Pitsuwan, Thai Minister of Foreign Affairs, who said, “No nation is so poor that it cannot afford a free press. In fact, the poorer you are, the more you need a free press,” highlighting the need of free press especially in developing countries such as Pakistan.
Different atrocities against press and freedom of speech in Pakistan are also discussed throughout the book, including violence against journalists, which continue to this day in different parts of Pakistan as a tool to keep the press in check and silence others who might raise their voices.
The most interesting part of the book is frank discussion and disclosure of corruption, misuse of the power by journalists. Details of many journalists’ and corruption have been discussed in the book with clear mention of their names as well their relatives who gained illegal advantages.
The book highlights the current as well as the historic situation of media in Pakistan, while focusing on the press freedom and developments and changes during different regimes in the country. Violence suffered by the press as well as cases of yellow journalism and bad practices are also discussed with details in seven chapters of the book.
Evolution of media laws in Pakistan are discussed and analysed in great details in the beginning chapters of the book, which also highlights the concerns and interests of different regimes in the country. Another aspect of the book is the chronological analysis of the media, which helps in understanding different phases of press in Pakistan.
In the preface of the book Dr Shahzad states that ‘most of the books published in Pakistan have deliberately or unconsciously overlooked the negative role of media practitioners. The primary objective of all previous books had been to highlight the severe actions of successive regimes, irrespective of democratic or autocratic in curbing the freedom of press. The ruling Junta was portrayed as a villain, oppressive, and fascist in a derogatory manner, whereas the media groups and their working journalists were depicted as custodians of constitution, of law, of human rights, and above all as comrades fighting for the rights of less privileged classes.
Several writers eulogised in hyperbolic way the meritorious services of the media practitioners as equivalence to Messiah of the country. In short, the projection of work for newspapers was exaggerated as sacred and as holy as the constituent steps of doing ablution or going on a pilgrimage.’
‘Press, Pressmen and the Governments in Pakistan: Mishandling of power and positions’ can undoubtedly be called the most in-depth look into Pakistani media, as it covers each and every historic event of press’ life in Pakistan.

 

 

 

(IWCCI) lauded the decision of the government to phase out power subsidies

BUSINESS PERISCOPE : Govt’s decision to cut power subsidies hailed

http://www.dailytimes.com.pk/default.asp?page=201379\story_9-7-2013_pg10_1

ISLAMABAD: Islamabad Women’s Chamber of Commerce and Industry (IWCCI) lauded the decision of the government to phase out power subsidies gradually terming it in the best interest of country. It is very difficult for Pakistan to survive without foreign aid in presence of power sector and energy subsidies, Farida Rashid said. The subsidies have not benefited poor but rich while it misbalances the budget. Subsidies leave little funds with government to spend of public welfare, it boost demand while reduces investment in renewable. Subsidies also contributes to social injustice, discourages private sector and push up the global warming, she added. She said losses of the power subsidy have reached to an extent that it has become an issue of national security. Last year our oil import bill was $14 billion, which will touch mark of $50 billion in seven years, enough to leave Pakistan bankrupt. app

Reasons for declining fertility rates in Pakistan.

Pakistan sixth most populous country in world: survey

* Life expectancy increased from 65.8% (female) and 63.9% (male) in 2010-11 to 66.1% (f) and 64.3% (m) in 2011-12

http://www.dailytimes.com.pk/default.asp?page=20136\17\story_17-6-2013_pg12_7

KARACHI: Pakistan is sixth most populous country in the world with an estimated population of 184.35 million in 2012-2013.

The growth rate of population during 2012-2013 is 2.0 percent. Under current circumstances, it is expected that Pakistan will attain fifth position in the world in terms of total population in 2050.

According to new Economic Survey of Pakistan 2012-13, the comparison of population data published by Population Reference Bureau shows that the world population growth rate reduced from 1.4 percent in 2011 to 1 percent in 2012. Nevertheless the decreased growth rate added 71 million people in global population, and the total world population crossed the figure of seven billion at the end of June 2012. Each year the number of human beings is on the rise, but the availability of natural resources, required to sustain this population, to improve the quality of human lives and to eliminate mass poverty remains finite.

Resultantly, these resources are becoming scarce and incapable of fulfilling ever increasing demand of population. The main affectees of increasing population are the developing countries where population growth rate is higher than developed countries while availability and use of natural resources is scarce as compared to developed world. However, this issue can be handled by advancement in technology and human resource development.

Increased investment in the technological development and higher labour productivity through improvement in education, health and training facilities are the main modes of increasing productivity of human resources.

People are living longer in both industrial and developing countries because of increased access to immunisation, primary health care, and disease eradication programs. In Pakistan, life expectancy has also increased from 65.8 (female) and 63.9 (male) in 2010-11 to 66.1 (female) and 64.3 (male) in 2011-12.

Age composition of a population is the number of people in different age groups in a country. It is one of the most basic characteristics of a population. A person’s age influence what he needs, buys, does, and thinks. The study of age composition of population is also helpful in determining the proportion of the labour force in total population. It also facilitates in understanding about the dependent population, longevity and aged population. According to age composition, population of a nation is categorized into three broad groups. These are Children (young), adult (middle age) and aged (old age).

The adult population is considered as wealth of a nation in terms of human resource. Adult population (15-59) has increased from 104 million in 2011 to 110 million in 2013. This age structure of a population affects a nation’s key socioeconomic issues. These people are economically productive and they comprise the working population.

Nevertheless, the rapid growth in this group can become problematic, if they are unable to find employment. However, the government with appropriate polices can utilise this youth bulge for the development of the economy. The population in third group (60 years and above) has shown a mild increase i.e. less than one million during 2011 to 2013 period. Total fertility is a general term covers the relationship between the current population (typically the current female population) and current numbers of births.

Total fertility rate represents the number of children that would be born to a woman if she were to live to the end of her childbearing years and bear children in accordance with current age-specific fertility rates. The fertility rate has rapidly declined in those countries which achieved major improvements in child survival rates and educational levels and have implemented family planning programs as well.

The increased access to family planning is helping parents to control the number and spacing of their children. In addition, with greater access to education and jobs more women are starting their families later and are having fewer healthier children. The fertility rate is continuously declining and reached at 3.3 in 2013. There are number of reasons for declining fertility rates in Pakistan. However, the main reasons are the introduction of the family planning methods, increased workforce participation by women and increased costs of child rearing. ppi

 

Inspecting A Country’s Debt

Inspecting A Country’s Debt

 
 
Inspecting A Country's Debt
Nothing ruins a nice dinner party quite like discussing economics and fiscal policy. Blood boils, friends become enemies and no one bothers touching dessert. In the United States the rancor and gnashing of teeth over such matters reached a fever pitch during the 2012 elections and still carries on through negotiations over the federal budget. Questions about the role of spending and debt are a global issue, but the core issue isn’t how much to spend or what to spend it on as much as it is on whether debt is inherently bad. Tensions over just how to handle debt are pitting the rich world against the developing world like never before.

Developed Does Not Mean Better
Researchers often focus on the debt of developing countries rather than the debt of the rich world. To a certain extent this makes sense considering that developing countries can be neophytes when it comes to managing external debt and the flow of money. Developing country governments are faced with an ever-broadening array of financing options and may find themselves on the verge of a debt crisis, without strong institutions and policies in place to keep debt in check.

The argument posited by international organizations such as the IMF and World Bank, as well as rich world crediting nations, is that developing countries should follow the sort of policies described in the Washington Consensus. The 2008 global crisis has turned the argument on its head, however. According to the IMF, general government gross debt for advanced economies grew from 72.5% of GDP in 2000 to 109.9% in 2012, with much of that increase occurring after 2008. During the same period, emerging markets and developing economies saw their percentage drop from 36.6 to 34.4%.

Of the 35 countries considered advanced by the IMF, all but nine are in Europe, which has yet to right itself four years into its sovereign-debt crisis. Between 2008 and 2011, 13 European countries – half of all European countries considered advanced – had increases of general government gross debt exceeding 40%. In short, some developing economies are less indebted than developing ones.

Public Sector Vs. Private Sector Debt
Arguments over debt tend to focus on government debt, with particular focus on government debt as it relates to GDP. While high-debt ratios do indicate a greater claim on future growth by creditors, since debt requires service payments, focusing solely on government debt misses the other elephant in the room: private sector debt.

To illustrate how focusing solely on government debt can turn into a Titanic-meets-iceberg moment, Cyprus, the small island nation now dominating financial news, was flying under the radar with a debt ratio of 61% in 2010 (compare this to 98% in the United States). What everyone missed was that its banking sector debt was nearly nine times its GDP in 2010; the eurozone average was 334% in 2010.

Governments – and ultimately taxpayers – face two issues when it comes to debt. High government debt means that a greater portion of tax revenue has to be earmarked for debt service payments. This reduces funds for other programs. High private sector debt, while ostensibly backed by investors in the companies taking on debt, can wind up pulling in the government. Hence the popularity of the “too big to fail” quote.

In some respects private sector debt is more frightening than public sector debt, since a government keeping a tight fiscal ship won’t have as much of an impact (hence monetary policy). For example, a banking crisis in the private sector can cause business credit to seize, unemployment to spike and bankruptcies to ensue. This in turn would lead to decreased tax revenue, which would lead to a vicious cycle of cuts and contraction.

For many developed nations with sophisticated banking systems, a good portion of private sector credit comes from within. A review of World Bank data on domestic credit to the private sector shows that 23 developed economies had ratios greater than 100% of GDP in 2011, with five countries – Cyprus, Denmark, Ireland, Spain and Hong Kong – with ratios greater than 200%. This matters because a private sector failure, such as a collapse of several big banks, will hit residents harder. This is part of the reason the European Central Bank is at odds with Cyprus: domestic depositors don’t want to take a hit.

Action to Take
How well a country manages its finances is rarely addressed until something goes wrong. In this sense, strong institutions and close vigilance can reduce the possibility of failure, but incentives often align to push governments toward policies that may kick problems down the street, rather than face them in the present. America allowed loose credit leading up to the financial crisis, while Cyprus basked in the warmth of being considered a banking haven. Debt statistics matter, but the complex workings of economics makes them only part of the overall picture.

Investors looking to take advantage of growth opportunities while reducing risk have a tough task ahead of themselves. The interplay of economic indicators is complex, but some general rules of thumb apply. Countries can run deficits, but just like the average Joe must be able to weigh the cost of borrowing with future growth. The higher the ratio of debt to GDP the more likely a country is to get into trouble.

For the optimist, looking into countries with healthier balance sheets will bring more stability, but with reduced risk comes slower growth. For the pessimist, investing against the negative consequences of a country running a greater deficit can mean taking positions that profit from increases in interest rate spreads. Investors can also look to currency trading to take advantage of a possible default.

 

 

Wahhabi Oil Cash – Pakistanis are/were never Wahhabis

The Wahhabi Invasion

Saudi charities pump in huge funds through hawala channels to radicalise the Valley
Kashmiri men offer Friday prayers at the Ahl-e-hadith mosque in Gawkadal, Srinagar.
Kashmiri men offer Friday prayers at the Ahl-e-hadith mosque in Gawkadal, Srinagar.

The famed Sufi tradition and spirit of Kashmiriyat in the Valley, already ravaged by decades of insurgency, faces a new challenge. Wahhabism, an austere, puritanical interpretation of Islam promoted by Saudi Arabia, is making deep inroads into Kashmir due to the efforts of the Jamiat Ahl-e-Hadith, which calls itself a religious and welfare organisation.Swelling congregations flock to about 700 mosques that the organisation, which registered itself way back in 1958, has built across the Valley. Practically every village along the picturesque, poplar-lined, 60-km stretch northwest of Srinagar towards Gulmarg has one or more Ahl-e-Hadith-funded mosques. The new mosques and their attendant madrassas make for a contrasting picture with the hundreds of dilapidated mosques built over centuries in the age-old Sufi tradition. Unlike worshippers at the older Sufi shrines, Ahl-e-Hadith mosques are overtly more conservative: women wear burqas or at least a headscarf, while the men sport beards and don skull caps; their traditional salwars end just above the ankle in accordance with Wahhabi tenets.

 

Mohammad Yousuf Tarigami, CPI(M) legislator

“Young Kashmiris are restive and disillusioned. To them, Ahl-e-Hadith is a new, more committed and determined option.”
Mohammad Yousuf Tarigami, CPI(M) legislator

Jammu and Kashmir (J&K) Police and Central intelligence officers say Ahl-e-Hadith’s funding comes primarily from Saudi Arabia. Based on US intelligence, they believe that the House of Saud, rulers of Saudi Arabia, had in 2005 approved a $35-billion (Rs.1,75,000 crore) plan to build mosques and madrassas in South Asia. “Wahhabi groups across Jammu and Kashmir were beneficiaries of this largesse,” says a senior police officer.

Scarf-clad students at the Salafia Muslim Institute in Srinagar.
Scarf-clad students at the Salafia Muslim Institute in Srinagar.

Intelligence sources say Saudi charities and private donors route zakat (charity) money to J&K through illegal hawala channels. It increases during the Eid season. Whenever mosque managements are questioned about it, their explanation is that it is donation or goat-skin money. All organisations registered under the Foreign Contributions Regulation Act (FCRA), 1976, have to submit their annual balance sheets to the Ministry of Home Affairs (MHA). “Not one organisation registered under the FCRA in J&K accounted for money coming in from Saudi Arabia,” says a senior MHA official. However, there is no way to keep track of funds received by organisations that are not registered with MHA. Most of the organisations, which have contributed to the growth of Wahhabi and Ahl-e-Hadith movements in Kashmir, are not registered.Sources in the Intelligence Bureau admit that they are aware of the large-scale illegal funding, but add that they cannot do much due to the sensitive internal situation. “We have taken up the issue several times with the state police but nobody wants to get into it. It suits them to ignore it,” claim sources.

Paramedics at a diagnostic centre run by the Jamiatahl-e-Hadith in Barbarshah, Srinagar.
Paramedics at a diagnostic centre run by the Jamiatahl-e-Hadith in Barbarshah, Srinagar.

Admitting massive cash inflows to the Valley, a senior state police officer says that the bulk of the illegal funds meant for Wahhabi groups and other hardline factions are physically transferred across the Line of Control and and at the trading station in Uri in the form of hard currency-both real and fake Indian currency notes-taking advantage of the barter trade being permitted between J&K and Pakistan-Occupied Kashmir. “Checks by customs officers are at best cursory. There are no X-ray machines and other standard international border control equipment. The army merely observes the goings-on,” he says. The officer adds that it is impossible to quantify the smuggled funds and that no agency-Central or state-has made any effort to do so.What concerns police and intelligence officials more is the possibility of Lashkar-e-Toiba and Tehreek-ul-Mujahideen militants relying on Ahl-e-Hadith members to provide them hideouts. “Indoctrinated Wahhabis are the least likely to turn in Islamist militants to the police,” says a senior intelligence official.

 

Mehbooba Mufti

“A knee-jerk response could be dangerous. The organisation is doing a lot of good work and has a considerable following.”
Mehbooba Mufti, People’s Democratic Party chief

Scarcely visible a decade and a half ago, Ahl-e-Hadith now claims over 15 lakh members, over 16 per cent of Jammu and Kashmir’s Muslims. Besides the 700 mosques and madrassas it built, Ahl-e-Hadith is believed to have funded 150 schools, several colleges, orphanages, clinics and medical diagnostic centres. It has also proposed a Rs.200-crore Islamic university, Transworld Muslim University (TWMU), in Hyderpora, Srinagar, affiliated to leading Saudi institutions. The proposal was referred to a select committee after state Congress chief Saifuddin Soz opposed it in the Legislative Council on October 9, 2010.TWMU is planned as a multi-disciplinary institution with a stated mission to “facilitate a new generation of leaders in medicine, science, technology and religion based on the Shariahâ”. Ahl-e-Hadith is already engaged in setting up key faculties within its existing institutions across Srinagar. Accepting responsibility for halting the proposal, Soz was reticent about his reasons for refusing permission, since the proposal was cleared in February 2008 by then Congress Chief Minister Ghulam Nabi Azad. Official sources claimed it was blocked, following intervention by J&K Governor N.N. Vohra on the advice of security agencies. Both the ruling National Conference and the Opposition People’s Democratic Party (PDP) had supported the bill. PDP head Mehbooba Mufti cautions that any decision to scuttle the university must be preceded by a thorough investigation into Ahl-e-Hadith’s sources of finance. “A knee-jerk response could be dangerous. After all, the organisation is doing a lot of good work and has a considerable following,” she says.

 

PURISTS ON THE PROWL

Wahhabi codes run counter to the age-old Sufi tradition.

  • Wahhabis forbid invoking names of prophets or ‘pirs’; Shrines are viewed as ‘deviant’ and forbidden.
  • Stringent dress codes are prescribed for both men and women. Men must grow beards, wear a prayer cap and keep trousers just above their ankels; women must observe purdah.
  • Music and dance, even loud laughter and demonstrative weeping at funerals, is actively discouraged.
  • Alcohol, tobacco and other stimulants are prohibited.
  • Women are dissuaded from working except where their families are in financial distress.
  • Gender segregation is actively enforced. Men and women are discouraged from socialising in public forums.

The organisation’s rapid proliferation and increasing popularity among youth is making Kashmir’s predominantly Sufi-Hanafi community anxious. “Opportunities for better education and secure future draw young Kashmiris for whom Ahl-e-Hadith represents a new, untested alternative,” says CPI(M) legislator Mohammad Yousuf Tarigami. The conservative Jamaat-e-Islami, too, is nervous at the prospect of ceding political ground. Ahl-e-Hadith’s feisty General Secretary Abdul Rehman Bhat, 65, insists, “Delhi is unwittingly playing into the hands of separatists like Syed Ali Shah Geelani, who are opposed to our university.” Hurriyat leaders Geelani and Mirwaiz Umar Farooq belatedly voiced support for the university in a joint statement in November. Non-committal on the Wahhabi proliferation, Geelani says the greatest threat to Kashmiriyat is from “the occupation forces deployed by India”. But Tarigami says Ahl-e-Hadith is contrary to the Jamaat’s ideological framework: “The Jamaat- e-Islami leadership perceives a dilution in their own brand value.”The Jammu and Kashmir Peace Foundation (JKPF), a Hanafi organisation devoted to reviving historic Sufi shrines, believes that a sinister process of “fundamentalist indoctrination” is under way in Wahhabi madrassas and schools. Based on a district-wise count, JKPF’s Chairman Fayaz Ahmad Bhatt, 40, says nearly 7,000 mosques, including 911 in Srinagar, preach the orthodox Wahhabi brand of Islam. Kashmir’s non-Muslim minority, too, views the Wahhabi ingress as a “conspiracy to Talibanise Kashmir”. “The Taliban had also sprung from Pakistani madrassas funded by the Wahhabis,” says former Kashmir University professor Kashi Nath Pandita.

Ahl-e-Hadith leaders vigorously deny all links to Islamist extremist groups. “We are more liberal than those that criticise us,” says Bhat. He points out that former Ahl-e-Hadith president Maulana Showkat Ahmad Shah was assassinated by Tehreek-ul-Mujahideen militants outside a mosque in Srinagar’s Maisuma locality on April 8 because he opposed extremism.

Bhat talks about the Ahl-e-Hadith-run English coaching institute for adolescent girls just above his Barbarshah, Srinagar, office and the diagnostic facility and pharmacy on the floor below that offers services at concessional rates. “No one is turned away, not even CRPF (Central Reserve Police Force) jawans,: he says. He also points to the Salafia Muslim Institute, the co-educational school with 800 children on Srinagar’s airport road in Parraypora. “We get strict about scarves for girls only after Class VI,” says Principal Mufti Altaf. Students are segregated by gender after Class II.

Ahl-e-Hadith has two registered charities that are eligible to receive foreign funding under FCRA. But the organisation denies receiving any Saudi money after 1996. Bhat, however, admits there are grants and scholarships for students to go for studies in Jeddah. He claims that the money spent on building new mosques and schools is raised via zakat. The total annual collection from all 700 mosques Ahl-e-Hadith claims to run across the state is around Rs.2.5 crore. Even if one were to accept Bhat’s claim that it costs them only Rs.10 lakh to build a new mosque, the organisation would have ended up spending much more in building the 350 new mosques it has since 2004 than what it gathered through zakat.

Mehbooba is not overly worried about the Wahhabis because she believes Kashmiris would never surrender their inherent freedom so easily. “Sufism is not merely a religious belief but a way of life. Women here did not take to the burqa even when militancy was at its peak,” she says. Her confidence is cold comfort, given the rapid growth of the Ahl-e-Hadith’s influence.

– With Bhavna Vij-Aurora

For a highly indebted economy such as Pakistan’s, there exists a narrow range of three options to manage its debt portfolio

THIS is apropos of the news item ‘SBP keeps interest rate unchanged’ (Feb 9), reporting 25.60 per cent increase in domestic debt and simultaneously assuring that ‘the economy has sufficient reserves to meet its debt obligations’.
http://dawn.com/2013/02/16/debt-servicing/

While many have reason to disagree with such a contention, it is important to consider debt beyond the simple equation of ‘reserve-based paying capacity’. For a highly indebted economy such as Pakistan’s, there exists a narrow range of three options to manage its debt portfolio: a) raising the rate of growth above the rate of interest, b) defaulting on a large proportion of the public debt and going into bankruptcy, c) wiping out of debts via currency depreciation and inflation.

Making a choice out of these involves far-reaching impact on the lives of the people and growth prospects of the state. Policymakers in Pakistan have invariably chosen the third option, employing ‘inflation’ as a ‘political phenomenon’ and, thereby, creating forms of debt that, by design, are being shifted to the next generation of the poor and lower middle class.

The ‘cognitive elite’ that, according to Charles Murray, is congregated in a few ‘super zip codes’ has benefited exponentially, while the poor has incurred inter-generational liabilities.

The ability of monopolistic elite to exploit the system in that way is characteristic of a ‘stationary state’. Adam Smith in ‘The Wealth of Nations’ explained that in such a state ‘(the poor) are liable under the pretence of justice to be pillaged and plundered at any time … the oppression of the poor must establish the monopoly of the rich who, engrossing the whole trade to themselves, will be able to make large profits.’

There were a series of attempts in 1692, 1694, 1696, 1704, 1708, and 1715 to avert such exploitation in England. From 1689, the parliament embarked on wide-range reforms, controlling and improving taxation, auditing royal expenditures, and effectively prohibiting debt default.

As a result, writes Nail Ferguson, ‘the debt was successfully reduced with a combination of sustained growth and primary budget surplus. There was no default, no inflation.’

Douglass C. North, Nobel laureate, argues ‘the real significance of the glorious revolution lay in the credibility that it gave the English state as a sovereign borrower’.

Pakistan’s incoming parliament needs a constitutional solution to the debt problem. A solution with wide-range reforms that reduce the discretion and ensure that the elite’s profligacy is not at the expense of the poor.

ALLAH NAWAZ SAMOO
Nagarparkar

 

 

Really Pakistan has few resorts and Snow SHUTS them down ! Amazing.

Must read it …
مری ……… مری میں پڑنے والی برف وبال جان بن گئی، سیاح پھنس گئے، 39 گھنٹوں سے بجلی بند، پانی جم گیا، سڑک پر پھسلن اور گاڑیاں پھنسنے کے باعث اسلام آباد مری روڈ بند کر دی گئی جبکہ بانسرہ گلی کے قریب برف صاف کرنے والے بلڈوزر کا بلیڈ گاڑی پر گرنے سے نوجوان جاں بحق ہوگیا۔ مری میں جمعرات کی شب سے شروع ہونے والی برف باری کے بعد انتظامیہ رابطہ سڑکوں سے برف ہٹانے میں تاحال ناکام رہی، مری کی رابطہ سڑکوں پر 3م 3 فٹ برف جمی ہے جس کے باعث شدید پھسلن سے ٹریفک بری طرح جام ہے اور سیاح کل رات سے مری میں پھنسے ہیں۔ جمعرات کی رات 12 بجے کے بعد سے مری شہر کی بجلی منقطع ہے جسے تاحال ٹھیک نہیں کیا جاسکا۔ مری میں پھنسے اپنے ایک دوست کو وہاں سے نکالنے کیلئے جانے والا پنڈی کا 26 سالہ نوجوان علی رضا بانسرہ گلی کے قریب برف ہٹانے والی گاڑی کا بلیڈ گرگیا جس سے گاڑی 2 ٹکڑے ہوگئی اور علی رضا موقع پر ہی جاں بحق ہوگیا۔ ترجمان موٹروے پولیس کے مطابق مری میں گاڑیاں پھنس جانے کی وجہ سے مری جانے والی اسلام آباد ایکسپریس روڈ بند کر دی گئی ہے۔ تاہم مری سے اسلام آباد واپس آنے والی سڑک ٹریفک کیلئے کھلی ہے۔

Islamic History

“….ISLAM actually had a very advanced civilisation hundreds of years before the western world caught up from about the 1600s.
Islam had universities, a diplomatic corp, cryptography, astronomy, chemistry, soap, and medicine: at a time when most of Europe was illiterate and living in poverty or serfdom….”

Wikipedia really does provide correct unbiased history of Muslims.

http://en.wikipedia.org/wiki/History_of_Islam

http://en.wikipedia.org/wiki/Timeline_of_science_and_engineering_in_the_Islamic_world

http://en.wikipedia.org/wiki/Mongol_invasions

http://www.religionfacts.com/islam/timeline.htm