Will we refuse to elect the ‘loan takers’ in 2007
“The progress here has been superficial … absolute poverty and absolute wealth in Pakistan … too much money has gone into creating modern institutions that in themselves absolutely make no difference to the welfare of the 80 per cent of the poverty-stricken population. At the World Bank consortium meeting in 1988, I was shocked that out of the $3.2 billion allocated for the social sector in Pakistan, less than three per cent of this sum, I repeat, less than three per cent of $3.2 billion was spent on social development! My advice is a moratorium on more foreign consultants, more reports, more loans. Instead let’s retire to a quiet corner with the people, who are real people and develop a strategy with them.” UN Rep in Pakistan.
As of today, Pakistan’s total external debt and liabilities stand at $37.7 billion. We continue to take loans, and blow them up, as if there was no tomorrow. The $350 million “Access to Justice” loan, borrowed from the Asian Development Bank has been comprehensively devoured. For the ordinary people of Pakistan, the “access to justice” continues to remain as distant as it ever was.
There is bad news for the year 2007. Regretfully, the World Bank has stated its intent to provide up to $6.5 billion loan to Pakistan over the next four years. This amount is the largest single award ever by the Bank to Pakistan.
Will the people of Pakistan refuse to elect the “loan taking” scavengers in the year 2007.