Pakistan seeks waiver of $50 bn foreign debt

[Vikramaditya]

Islamabad, Nov 14 (IANS) Pakistan Sunday urged the international community to waive its debt of over $50 billion to ease the financial burden on the country and enable it to combat terrorism and other challenges.

The country has paid a 'heavy price' after becoming part of the war on terror in 2001, Interior Minister Rehman Malik said at the inauguration of the two-day Pakistan Development Forum here.

'The waived-off foreign debt will be utilised in the fight against terrorism,' he said adding: 'We need trade instead of aid.'

The minister said: 'Terrorism in Pakistan is being exported from Afghanistan as around 50,000 people crossover daily to the Pakistani side from the porous borders with Afghanistan.'

Pakistan has been demanding financial and trade assistance from the world after suffering from heavy losses of life and infrastructure in rampant terrorism activities that have killed thousands of people since the start of operations against the Taliban in the country's northwest and neighbouring Afghanistan since 2001.

At the Forum, Pakistan's provincial and federal representatives presented before the audience, which included foreign envoys and representatives of financial institutions, details of their requirements after the devastation caused by the floods, which have left more than 1,800 people dead and over 20 million homeless across the country.

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[Virendra]

$50 billion is a big amount .. would be difficult to convince the respective countries. Moreso after the recession, when everyone is busy dousing his own backyard's fire, specially US.
Perhaps the Pakistan Govt. would have to bend down for some under the table compromise to get it done, but again I'm confused on exactly what they can offer to their lenders. :emot0:

 

[sandeepdg]

I say put a penalty of another $50 billion over this amount on them ! They will be broke for the next 50 years ! :emot15:

 

[AirforcePilot]

I say put a penalty of another $50 billion over this amount on them ! They will be broke for the next 50 years ! :emot15:

I'm worried that Obama will give Pakistan $50 billion to pay off their debt.

 

[Vikramaditya]

Well I think when it come to bagging pakistan has no limit.50$bn is huge. One side they are doing double game and on other side they are asking money and waiver on their depth.what are they thinking??

 

[Virendra]

I'm worried that Obama will give Pakistan $50 billion to pay off their debt.

That would be catastrophic and would spoil the power seaters in Govt./Army/ISI further. They would have reasons to believe that they can as many times they want, get away with spending foreign aid for home-gown terrorism propoganda, for their own pockets - and then come out clean, crying for more help. Once done, this would become a habit. It should be avoided at any cost.

 

[smartindian]

beggar paki begging in different way, today they want waiver , they want more military aid, they want everything because they are cancer to the world peace

 

[ganesh177]

Beggars never give up begging. Burden for the planet.

 

[Agantrope]

America getting geared up for the next financial aid package!!!

Bravo pakistan!!!

 

[Rage]

Well, what do they say, ' the turd doesn't fall far from the f@ggot's arse'.

Let them beg, for beggars will be beggars. Nange, bhooke Pakisthan indeed.

 

[Yusuf]

What a joke. UK today can't afford a 5 billion carrier and is lookin to save the bottom pence. So is the state of other western countries. I really doubt anyone would write off any debt. 50 billion is too high an amount to write off that to for a country that has no qualms about spending big money on war toys.

 

[Tshering22]

$50 billion waiver? Is Rehman Malik out of his mind? Does he even know how much that is? It is equal to 8 years of their total defence budget! With already so much aid money gone from the West's pockets, I doubt that USA, NATO or for that matter even China accept such a huge concession.

If impossible happens of all of them accepting this condition, then Pakistan will become IMF's backyard and indirectly that of all the countries who it owes that wealth to. GOP will become irrelevant as lenders will call off the shots. Then no terror economy can be run by their generals, mullas and ISI agents. If it was say $ 2-5 billion, people would have agreed but $ 50 billion!!? :emot0:

I just pray that Manmohan Singh, Arundhati Roy etc don't volunteer to pay their debt off.

 

[thakur_ritesh]

pakistan is a hole, where once the money is put in there is very rare chance of that coming back. musharraf got huge debt waivers and only then he was able to make pakistan debt free when he was ruling but the he then had to make tons of compromise. i dont have a doubt that a part of this 50b usd will be written off but in exchange of what is the big question, as it is pakistan is bending backwards with pants down. let us see, pakistan never ceases to amaze me!

 

[The Messiah]

We should buy whole of pakistan for 50b and send its people to usa and china and wait till pakis destroy both those countries aswell from within.

3 birds with 1 stone :angry_1:

 

[dineshchaturvedi]

$50 billion waiver? Is Rehman Malik out of his mind? Does he even know how much that is? It is equal to 8 years of their total defence budget! With already so much aid money gone from the West's pockets, I doubt that USA, NATO or for that matter even China accept such a huge concession.

If impossible happens of all of them accepting this condition, then Pakistan will become IMF's backyard and indirectly that of all the countries who it owes that wealth to. GOP will become irrelevant as lenders will call off the shots. Then no terror economy can be run by their generals, mullas and ISI agents. If it was say $ 2-5 billion, people would have agreed but $ 50 billion!!? :emot0:

I just pray that Manmohan Singh, Arundhati Roy etc don't volunteer to pay their debt off.

When have you seen him having sensible thought?

Pakistani's are very clever people they try their level best to get free money as much as possible.
They will ask for waiver in the name of poor people and then when they have money they will spend in defense and other expenses.
I think world has figured them out so not happening

 

[LETHALFORCE]

why isn't USA giving more money to Afghanistan?? They need it much more than pakistan who has done nothing for 9 years.Karzai is ready to talk to the taliban and this can turn into a real disaster.

 

[dineshchaturvedi]

Wow to bus nahi chal raha in logon ka warna to 100 billion aur extra mang lain yeah. WOT has becoming a milking cow for Pakistan.

 

[AirforcePilot]

why isn't USA giving more money to Afghanistan?? They need it much more than pakistan who has done nothing for 9 years.Karzai is ready to talk to the taliban and this can turn into a real disaster.

Since 2002 we gave Afghanistan approximately $31 billion in aid. How much more aid do you wish to give them?

It is a known fact that Karzai is talking to the Taliban. Everyone feels a diplomatic solution is the right course of action to take.

 

[anoop_mig25]

it right time that world body reject paks demand this would surely pressurize Pakistan to do its act

 

[gogbot]

The country has paid a 'heavy price' after becoming part of the war on terror in 2001, Interior Minister Rehman Malik said at the inauguration of the two-day Pakistan Development Forum here.

What BS, Pakistan caused the war on terror and escaped being on the losing side only because it had nukes

'The waived-off foreign debt will be utilised in the fight against terrorism,' he said adding: 'We need trade instead of aid.'

If they want trade they need to stand on their own feet. And work like businessman

No businessman i know goes to the people who gave him loans and then beg for it to be forgotten.
And then try to sell them something son after.

The minister said: 'Terrorism in Pakistan is being exported from Afghanistan as around 50,000 people crossover daily to the Pakistani side from the porous borders with Afghanistan.'

The only exporter of terrorism here is Pakistan. Afghanistan is the victim here.