Twirp: Terrorist Wahabi Islamic Rep Pakistan 5

[Naresh]

<!--QuoteBegin-Mudy+Nov 21 2009, 10:52 PM-->QUOTE(Mudy @ Nov 21 2009, 10:52 PM)<!--QuoteEBegin-->Sipah e Sahaba's general secretary was shot dead, last night. And today SSP (a 'banned' organization) made a show of force in Karachi, blocking business and traffic.

Here is a pic of banned organisation gathering

[right][snapback]102707[/snapback][/right]
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<b>Mudy Ji :</b>

You have posted the <b>"Cause"!</b>

Here is the <b><span style='font-size:14pt;line-height:100%'>"Effect"!! :</span></b>

[center] <!--emo&:flush--><img src='style_emoticons/<#EMO_DIR#>/Flush.gif' border='0' style='vertical-align:middle' alt='Flush.gif' /><!--endemo--><b><span style='font-size:21pt;line-height:100%'>Debt, liabilities rose to $55bn in past quarter</span></b> <!--emo&:flush--><img src='style_emoticons/<#EMO_DIR#>/Flush.gif' border='0' style='vertical-align:middle' alt='Flush.gif' /><!--endemo-->[/center]

<b>ISLAMABAD : If Pakistan decides to retire its entire external debt and liabilities (EDL), it has to slash one-third of its economy, as at the end of September 2009, the country’s EDL have increased to a worrisome $55.216 billion.

International Monetary Fund (IMF) few months back projected that Pakistan’s external debt would reach $74 billion by 2015. The nature of whopping increase in country’s external debt indicates that Islamabad would cross the limit very shortly and before the fund’s projected year.</b>

It is interesting to note that during a short span of three months, these liabilities jumped $2.88 billion from end June 2009 level of $52.33 billion.

Out of EDL, external debt stood at $53.79 billion against $50.76 billion at end June 2009 depicting an increase of $3.035 billion. It is notable that at end 2008,it stood at $44.46 billion.

However, external liabilities reduced slightly to $1.42 billion from $1.57 billion recorded at the end of financial year 2008-09.

According to the State Bank of Pakistan (SBP) data during the last 15 months, about $9.053 billion were added to external debt and liabilities. Last year at the end of June, these stood at $46.16 billion. Rupee depreciation against major currencies, especially the US dollar, was another factor contributing to the debt burden.

Pakistan’s back record revealed that external debt has increased significantly in the last few years. As on June 30, 2003 external debt stood at $32.46 billion, June 2004 ($32.93 billion), June 2005 ($34.04 billion), June 2006 ($35.89 billion), June 2007 ($39 billion), June 2008 ($44.46 billion), June 2009 ($50.76 billion) and now at the end of September 2009, it has jumped to $53.79 billion.

Independent economists believe that the increase in public debt could have severe long-term direct and indirect negative impact on economy. They say the government to make strong fiscal adjustments instead of more borrowing. Otherwise, in coming years, debt problem will cause severe macroeconomic consequences like low economic growth, closure of businesses, rising unemployment and poverty, deterioration of physical and human infrastructure, high inflation, pressures on exchange rate, discouragement of both domestic and foreign private investment etc.

Already the debt-servicing burden has progressively reduced the government’s ability to undertake much needed infrastructure development projects, and further rise in debt burden would hamper country’s efforts for social and economic development.

Cheers <!--emo&:beer--><img src='style_emoticons/<#EMO_DIR#>/cheers.gif' border='0' style='vertical-align:middle' alt='cheers.gif' /><!--endemo-->