China’s Official Press Agency Calls For New Reserve Currency, And New World Order

by Tyler Durden

We assume it is a coincidence that on the day in which we demonstrate China’s relentless appetite for gold, driven by what we and many others believe is the country’s desire to have a call option on a gold-backed reserve currency when the time comes, just posted in China’s official press agency, Xinhua, is an op-ed by writer Liu Chang in which he decries the “US fiscal failure which warrants a de-Americanized world” and flatly states that the world should consider a new reserve currency “that is to be created to replace the dominant U.S. dollar, so that the international community could permanently stay away from the spillover of the intensifying domestic political turmoil in the United States.”

Of course, if China were serious, and if the world were to voluntarily engage in such a (r)evolutionary reserve currency transition ….

Read more » Zerohege,com
http://www.zerohedge.com/news/2013-10-13/chinas-official-press-agency-calls-new-reserve-currency

India gripped by mood of crisis as rupee falls again

By James Crabtree in Mumbai and Victor Mallet in New Delhi

The Indian rupee fell to a new low against the dollar on Wednesday and stocks declined after a central bank promise to inject liquidity into the country’s financial markets provided only temporary relief from a deepening sense of crisis….

Read more » Financial Times
http://www.ft.com/cms/s/0/af335904-0a21-11e3-aeab-00144feabdc0.html#axzz2ceOcBPBJ

An Irish engagement with the Greek crisis

To the crucible: an Irish engagement with the Greek crisis and the Greek left

By Helena Sheehan

January 21, 2013 — Irish Left Review, posted at Links International Journal of Socialist Renewal at the author’s suggestion and with her permission — A monumental drama is playing out before our eyes. It is a true Greek tragedy. The plot: A society is being pushed to its limits. The denouement is not yet determined, but survival is at stake and prospects are precarious. Greece is at the sharp end of a radical and risky experiment in how far accumulation by dispossession can go, how much expropriation can be endured, how far the state can be subordinated to the market. It is a global narrative, but the story is a few episodes ahead here.

Greece is the crucible.1 It is a caldron where concentrated forces are colliding in a process that will bring forth either a reconfiguration of capitalism or the dawn of its demise.

Salaries, pensions, public services are falling, while prices and taxes are rising. Massive asset stripping is underway. Water, power, ports, islands, public buildings are for sale. Unemployment, emigration and evictions have brought a sense of a society unraveling. Homeless people wander the streets and scavenge for food in bins or beg it from the plates of those eating in tavernas. If they are immigrants, they are terrorised. Those looking into a horizon without hope either drift into desolation or perform the ultimate decisive act of suicide. Some have done so in private spaces, while others have chosen public places to underline the political nature of their fate, as they jump from heights, set themselves on fire or shoot themselves. In April 2012, Dimitris Christoulas, a retired pharmacist, who felt he could no longer live a dignified life after his pension had been slashed, shot himself in front of parliament. His last words were: “I am not committing suicide. They are killing me.” He urged younger people to fight.

Excerpt of Naseer Memon oped published in Sindhi Daily Kawish on the issue of controversail local govt. law

Creation of Metropolitan Corporations

· Government will create Divisional Head Quarter of Karachi, Hyderabad , Sukkur, Larkano and Mirpurkhas as Metropolitan Corporations But Karachi Metropolitan will be consist of five districts [Note: only Karachi is different from all other Metropolitan all other metro will be consists of only one district while Karachi five]

According to 1998 census MQM has only majority in two districts out of five. If Karachi Metro consists of five District Councils then MQM can have control on only two district councils and they cannot even win mayor ship of Karachi Metro! So MQM knowingly using this Ordinance created Karachi Metro based on five districts instead of 18 towns.

· Union Council boundaries with in the Metro area cannot stretch into any Talku or town

Please note that this doesn’t apply to Town boundaries, there are 5 districts and 18 towns are in Karachi. 18 towns were created in dictator Gen. Musharaf period gerrymandering so that MQM elect their Mayor. It was not possible before since out five districts MQM can only elect two districts only.

This also shows that Karachi is different from other Metro areas.

· Through this ordinance Mayor and Chairman have authority to remove encroachment and maintain peace using Criminal Procedure Code 109, 133, 143, 144 and 145 under the Police act of 1861 and under section 30A-34B. Also they have section 144 under their authority.

Using this authority MQM Bulldoze any Sindhi area, do not allow any political rally and activity, remove any flood relief camps etc.

· Using their financial resources councils have authority to create any new department

Obviously only Karachi and Hyderabad has revenue to create any new department. We already had seen how MQM created city police by recruiting its entire party worker. Rest assured how will these departments server the city.

· Using this ordinance Deputy Commissioner office becomes irrelevant and all the powers are transferred to Chief Officer, who reports to Metro Government. Only revenue matters left to DC office but Karachi will be different again.

Now you can imagine how MQM will utilize Chief Officer Office.

· Financial grant of Metro based on its financial needs, revenue potential and revenue generation

In other words since Karachi and Hyderabad generate most the revenue hence they need more money and rest of Sindh will go to hell. There is no parity for poverty which considers in federal divisible pool.

· Using this Ordinance there are many departments moved to Metro area but most consequential are primary education and fisheries

If Karachi metro can regulate primary education it means the small number of Sindhi medium school running will be closed and there will be no new sindhi medium school will open. Also fisheries department transferred to Karachi Metro mean they will regulate all the harbors where majority of Balochs and Sindhi currently works. They will also not allow any new fishermen housing society in future.

· Military dictator Gen. Musharaf police Ordinance only reactivated in Karachi only, rest of Sindh will still in 1861 act

Courtesy: Sindhi daily Kawish, 05 October, 2012

Via – World Sindh Congress (WSC) facebook wall.

The Costs of Capitalism’s Crisis: Who Will Pay?

Economics Professor Richard Wolff details the problems of capitalism and urges our recognizing its obsolescence and replacing it with institutions that truly serve the people.

Talk at Church of All Souls in New York City, January 24, 2012. Camera, audio: Joe Friendly.

Read more » YouTube

Senator Faisal Raza Abidi demands Chief Justice’s resignation

– – – – – – – – – –

By Sidrah Moiz Khan

Abidi held Justice Chaudhry responsible for the alleged financial impropriety done by his son, Dr Arsalan Iftikhar

While hurling fiery allegations at Chief Justice Iftikhar Muhammad Chaudhry, Pakistan Peoples Party (PPP) Senator Faisal Raza Abidi on Sunday demanded a resignation from him and other judges who were reinstated under the Provisional Constitutional Order (PCO).

During a press conference in Islamabad, Abidi held Justice Chaudhry responsible for the alleged financial impropriety done by his son, Dr Arsalan Iftikhar.

The senator said that if the chief justice does not tender a resignation, then he will “force him out from the same way he had been restored as a judge.”

“He [Justice Chaudhry] says that he did not have any idea where his son got all that money from…I ask, when the case emerged, did you ask him where he got Rs900 million from?”

The senator produced bank account statements of Dr Arsalan and said that the person who used to “work under somebody else” now owns billions of rupees. He also showed that the billing address mentioned was that of the Chief Justice House in Islamabad.

“You [Justice Chaudhry] are to be blamed for this. This happened right in front of you. You cannot pretend to not know anything. Who gave Dr Arsalan the right to use government’s property for running his own businesses? Could he not rent out an office in some other area?

Global super-rich elite has hidden an extraordinary $21 trillion of wealth offshore

£13tn: hoard hidden from taxman by global elite

• Study estimates staggering size of offshore economy

• Private banks help wealthiest to move cash into havens

A global super-rich elite has exploited gaps in cross-border tax rules to hide an extraordinary £13 trillion ($21tn) of wealth offshore – as much as the American and Japanese GDPs put together – according to research commissioned by the campaign group Tax Justice Network. ….

Read more » guardian.co.uk

Via – Twitter

Pakistan is defaulting on sovereign debt

Power sector dues: Govt defaults on sovereign guarantees

By Shahbaz Rana

ISLAMABAD: Failure to honour its financial commitments to Independent Power Producers (IPP) has led to the first-ever sovereign default by the government in Pakistan’s history.

The default on sovereign guarantees – assurances the government provides to foreign investors – may not only unnerve the financial markets, but also downgrade the government’s creditworthiness, making it more expensive to borrow money.

“Today, the government of Pakistan has committed a sovereign default for the first time in the history of the country”, announced the IPPs Advisory Committee here on Tuesday.

“The government has defaulted on payments of roughly Rs45 billion to nine IPPs that generate 1,700 megawatts of electricity”, said Abdullah Yusuf, Chairman IPP Advisory Committee while talking to The Express Tribune. These nine IPPs started operations in 2004 and their total receivables amount to almost Rs232 billion.

Taking legal course

The IPPs gave a 30-day payment notice to the power purchaser, the Central Power Purchasing Agency (CPPA), followed by a 10-day notice to the government. Neither the CPPA nor the government cleared the overdue amounts, said the advisory committee.

The IPPs have exhausted all avenues available and the notice served to the government expired on Tuesday, the committee said.

After the default, the IPPs have issued a legal notice to the government for recovery by Thursday, May 10th, 2012 failing which the IPPs will follow a legal course.

Yusuf said the IPPs will go to the Pakistani courts.

“The default is a very serious matter and carries negative implications for the country”, Yusuf added. ….

Read more » The Express Tribune

Chinese bank pulls out of Pakistan-Iran pipeline project

Industrial and Commercial Bank of China won’t help finance the natural gas pipeline to Pakistan, apparently because of U.S. sanctions on Iran.

By Paul Richter and Alex Rodriguez, Los Angeles Times

Reporting from Washington and Islamabad, Pakistan—

China’s largest bank has backed out of a deal to finance a proposed Iran-to-Pakistan gas pipeline that is opposed by the United States, a potential sign of the lengthening reach of U.S. economic sanctions on Iran.

Pakistani officials confirmed Wednesday that Industrial and Commercial Bank of China had withdrawn from plans to head a consortium that would finance the $1.6-billion Pakistani portion of the cross-border pipeline, apparently over concern that the bank could be excluded from the U.S. economy.

VICTIMIZATION OF SASSO OFFICERS

Would the Chief Secretary and the Chief Minister of Sindh redress the financial problems of Sindh Government retired Sasso officers as they are not being paid their monthly pensions in time. When approached the concerned Section officer of Sindh Agriculture department, he responded rudely that State Bank of Pakistan does not release them the funds and if any further inquiry or reason is asked, he usually stop talking and putting the receiver of the phone to avoid any further inquiry. Secondly, the annual increment as allowed by the Government to their other serving and retired employees, has still not allowed Sasso officers such annual increments. We shall be highly grateful if our financial problems are solved being the retired and senior citizens of Sindh Pakistan.

Ghulam Hussain Qureshi, Retired officer of Sasso, Old Halla – Sindh

Received via email – drdhakansindheconomist@hotmail.com

Why the U.S. is Not Regulating Wall Street

The “Other Reason” Why the U.S. is Not Regulating Wall Street

Financial Giants Overshadow Governments

by Washington’s Blog

Sure, American politicians have been bought and paid for by the Wall Street giants. See this, this and this.

And everyone knows that the White House and Congress – while talking about cracking down on Wall Street with strict regulation – have actually watered down some of the most important protections that were in place. ….

Read more » Global Research

Desis stay away from Occupy Wall Street

by Dr. Qaisar Abbas

Excerpt;

While the American silent majority has spoken lodging its protest throughout America, the so-called model minority of Desis seems to be in a state of perpetual silence. The affluent are part of a capitalist system which they cannot afford to oppose anyway. On the other hand, the disadvantaged communities of the diaspora are so isolated from the American society; they do not feel to be part of a grassroots movement …

…. The grassroots agitation against the exploitative capitalist system is challenging the powerful businessmen, financial institutions and politicians in the United States. The recent issue of the progressive journal “The Nation” reports the deplorable economic conditions in the United States in these figures:

• Twenty five million Americans are unemployed who are desperately looking for jobs
• While corporate CEOs are paid handsomely, wages of 70% Americans without college education are declining
• One in 6 American lives below the poverty line
• One in four homes, considered to be the largest asset for most Americans, is at the verge of foreclosure and eviction by banks for nonpayment of mortgage loans
• Fifty million people are unable to afford health insurance as healthcare costs are soaring
• The economy works well for the rich 1% who control 40% of the wealth
• Multinationals have conveniently transferred domestic jobs in other countries to reduce production costs
• The rising cost of education is becoming unbearable for youth and they are burdened with a record high education loans ….

Read more » ViewPoint

Thousands of protesters fill New York Times Square

– Thousands of protesters fill NYC’s Times Square

by Associated Press

NEW YORK — Thousands of demonstrators protesting corporate greed filled Times Square on Saturday night, mixing with gawkers, Broadway showgoers, tourists and police to create a chaotic scene in the midst of Manhattan.

“Banks got bailed out, we got sold out!” protesters chanted from within police barricades. Police, some in riot gear and mounted on horses, tried to push them out of the square and onto the sidewalks in an attempt to funnel the crowds away. ….

Read more » The Wall Street Journal

OWS spreads all over

– Occupy protests spread around the world; 70 injured in Rome

By Faith Karimi and Joe Sterling, CNN

(CNN) — Thousands of people across the world railed against corporate power, grinding poverty and government cuts Saturday as the Occupy Wall Street movement spread to the streets of Europe, Asia and Australia — and took a particularly violent turn in Rome.

Firefighters battled a blaze at an Interior Ministry building near Porta San Giovanni in Rome, the main gathering site of the Italian protesters taking part in the Occupy movement Saturday, said eyewitnesses who reported seeing a Molotov cocktail thrown near the building.

A spokesman for Mayor Gianni Alemanno, who condemned the violence, confirmed 70 people were injured, 40 of them police officers. No arrest numbers were available late Saturday. ….

Read more » CNN

Dangerous Minds: Noam Chomsky on the Wall Street protests

Noam Chomsky sends a “strong message of support” to the organizers of the Occupy Wall Streetprotests:

“Anyone with eyes open knows that the gangsterism of Wall Street — financial institutions generally — has caused severe damage to the people of the United States (and the world). And should also know that it has been doing so increasingly for over 30 years, as their power in the economy has radically increased, and with it their political power. That has set in motion a vicious cycle that has concentrated immense wealth, and with it political power, in a tiny sector of the population, a fraction of 1%, while the rest increasingly become what is sometimes called “a precariat” — seeking to survive in a precarious existence. They also carry out these ugly activities with almost complete impunity — not only too big to fail, but also “too big to jail.”

The courageous and honorable protests underway in Wall Street should serve to bring this calamity to public attention, and to lead to dedicated efforts to overcome it and set the society on a more healthy course.” …

Read more » Dangerous Minds

Occupy Wall Street rediscovers the radical imagination

– The young people protesting in Wall Street and beyond reject this vain economic order. They have come to reclaim the future

• Police tactics attacked as officers pepper-spray women
• Occupy Wall Street: the protesters speak

by David Graeber

Why are people occupying Wall Street? Why has the occupation – despite the latest police crackdown – sent out sparks across America, within days, inspiring hundreds of people to send pizzas, money, equipment and, now, to start their own movements called OccupyChicago, OccupyFlorida, in OccupyDenver or OccupyLA?

There are obvious reasons. We are watching the beginnings of the defiant self-assertion of a new generation of Americans, a generation who are looking forward to finishing their education with no jobs, no future, but still saddled with enormous and unforgivable debt. Most, I found, were of working-class or otherwise modest backgrounds, kids who did exactly what they were told they should: studied, got into college, and are now not just being punished for it, but humiliated – faced with a life of being treated as deadbeats, moral reprobates.

Is it really surprising they would like to have a word with the financial magnates who stole their future?

Just as in Europe, we are seeing the results of colossal social failure. The occupiers are the very sort of people, brimming with ideas, whose energies a healthy society would be marshaling to improve life for everyone. Instead, they are using it to envision ways to bring the whole system down. ….

Read more → guardian.co.uk

– – – – – – – – – – – –

via → guardian news blog → YouTube

Is Democracy as We Know It on Its Way Out?

By Frank Viviano

A decade ago, only paranoid alarmists would have posed that question.

 Today, it may be an expression of cold, brutal realism.

Is Western democracy coming apart at the seams? A decade ago, only paranoid alarmists would have posed that question.

 Today, it may be an expression of cold, brutal realism.

On both sides of the Atlantic — from the fires that raged in large stretches of London, to the political chicanery that brought the U.S. economy to its knees in early August — the institutional framework that came to define modern democracy in the 19th century is in deep trouble.

The principal organs of financial oversight and management are in tatters. Ferociously xenophobic political movements, an entire constellation of Tea Parties, now play important roles in nearly every European nation, as well as the United States.

Faith in elected leaders and legislatures, the central and defining institutions of democracy, has never been lower.

According to the Pew Research Center, the proportion of the U.S. public expressing trust in the federal government has fallen from just under 80 per cent in the late 1960s to barely 20 per cent today. 

….

Read more → AlterNet

Pakistani intelligence secretly funneled at least $4 million to a Washington lobby group whose leaders improperly lobbied U.S. officials over Kashmir

Pakistan funded Washington lobby group, U.S. says

Washington (CNN) — Pakistani intelligence secretly funneled at least $4 million to a Washington front group whose leaders improperly lobbied U.S. officials over the disputed territory of Kashmir, federal agents alleged Tuesday.

A Pakistani-American man who served as director of the Kashmiri American Council is in federal custody, while a second man accused of steering money to the organization is believed to be in Pakistan, the Justice Department said. The KAC director, Syed Ghulam Nabi Fai, “acted at the direction and with the financial support of the government of Pakistan for more than 20 years,” an FBI arrest affidavit states.

One U.S. congressman quickly gave $4,000 donated by the two men charged in the case to charity, while another said he would consider a similar move if the source of the money was in question.

Fai and his co-defendant, Zaheer Ahmad, have been charged with conspiring to violate the Foreign Agents Registration Act, which requires lobbyists acting on behalf of another nation to register with the U.S. government. The charge carries a possible prison term of up to five years. ….

Read more → CNN

Triple explosions shake India’s financial hub Mumbai

Mumbai: Explosions shake India’s financial hub

The BBC’s Rajini Vaidyanathan says the explosions happened in the middle of rush hour. Three near-simultaneous explosions have shaken India’s commercial capital Mumbai (Bombay), police say. Twenty-one people were killed and 113 injured, said Maharashtra state’s Chief Minister, Prithviraj Chavan. He called the explosions, during Mumbai’s busy evening rush-hour, “a co-ordinated attack by terrorists”. One explosion was reported in the Zaveri Bazaar, another in the Opera House business district and a third in Dadar district in the city centre. …

Read more → BBC

Pakistan: Gross Financial Irregularity in Punjab

– Gross Financial Irregularity in Punjab: Funds Allocated for Clean Drinking Water Project Diverted to “Sasti Roti” Project

Punjab Government Suggests Closure of the Foreign Funded Program

By: Aijaz Ahmed

Corruption and financial irregularities don’t seem to be limited to an individual or a single political party in Pakistan. One very often hears about the fabled corruption of the president of Pakistan and co-chairperson of PPP and also about the gross irregularities, mismanagement and corruption in the federal government. The accusers among others include the PML-N leaders who claim running a very clean government in the Punjab, the largest province in Pakistan. But as this report suggests their hands are not as clean either. They have engaged in financial irregularities and also seem to be playing gimmicks for short-term political gains at the cost of the welfare of the common men.

The much-hyped clean government of the iron man # 2, Mian Shahbaz Sharif has been involved in certain gross financial irregularities, ….

Read more : Indus Herald

Pakistan, India & China: A tale of triplets

COMMENT: A tale of triplets — by Shahab Usto

Pakistan’s utmost priority should be to follow the Chinese model: shun external engagements and turn inwards to focus only on economic, social and human development. Remember, we have missed the bus twice

Independent Pakistan, India and China were born at almost the same time, inherited the same decrepit state structures, and shared the same trajectory of international wars and civil strife. But they do not share the same present. China is the fastest growing economy. India is catching up fast with it. But Pakistan lags far behind both.

As it is, China (closely followed by India) is all set to dominate the Asia-Pacific region, if not the world. The US-led West is jittery. Stuck in a financial crisis, the West has lost faith in its economic philosophy based on unregulated markets. “The teachers are in trouble,” as one Chinese minister put it, referring to the ideologues of the failing Anglo-Saxon corporate and financial models. …

Read more : Daily Times

Dubai on Empty

By A. A. Gill

Excerpt:

…. You look at this place and you realize not a single thing is indigenous, not one of this culture’s goods and chattels originated here. Even the goats have gone. This was a civilization that was bought wholesale. The Gulf is the proof of Carnegie’s warning about wealth: “There is no class so pitiably wretched as that which possesses money and nothing else.” Emiratis are born retired. They waft through this city in their white dishdashas and headscarves and their obsessively tapered humorless faces. They’re out of place in their own country. They have imported and built a city, a fortress of extravagance, that excludes themselves. They have become duplicitous, schizophrenic. They don’t allow their own national dress in the clubs and bars that serve alcohol, the restaurants with the hungry girls sipping champagne. So they slip into Western clothes to go out.

The Gulf Arabs have become the minority in this country they wished out of the desert. They are now less than 20 percent of the total population. Among the other 80-plus percent are the white mercenary workers who come here for tax-free salaries to do managerial and entrepreneurial jobs, parasites and sycophants for cash. For them money is a driving principle and validation. They came to be young, single, greedy, and insincere. None of them are very clever. So they live lives that revolve around drink and porn sex and pool parties and barbecues with a lot of hysterical laughing and theme nights, karaoke, and slobbery, regretful coupling. In fact, as in all cases of embarrassing arrested development, these expats on the short-term make don’t expect to put down roots here, have children here, or grow old here. Everyone’s on a visa dependent on a job.

Then there is a third category of people: the drones. The workers. The Asians: Indians, Pakistanis, Sri Lankans, and Filipinos. Early in the morning, before the white mercenaries have negotiated their hangovers, long before the Emiratis have shouted at the maid, buses full of hard-hatted Asians pull into building sites. They have the tough, downtrodden look of Communist posters from the 30s—they are both the slaves of capital and the heroes of labor. Asians man the hotels; they run the civil service and the utilities and commercial businesses; they are the clerks and the secretaries, the lawyers, the doctors, the accountants; there isn’t a single facet of this state that would function if they didn’t maintain it. No one with an Emirati passport could change a fuse. Yet, the workers, who make up roughly 71 percent of the population, have precious few rights here. They can’t become citizens, though some are the third generation of their family to be born here. They can be deported at any time. They have no redress. Many of the Asian laborers are owed back pay they aren’t likely to get. There are reams of anecdotal stories about the abuse of guest workers. I’m told about the Pakistani shop assistant who, picking up an Arab woman’s shopping bags, accidentally passed gas, got arrested, and was jailed.

The great war of the 21st century?

Gerald Celente, the man behind the famous Trends Journal, is Max Keiser’s guest for this edition of Press TV’s On the Edge. The main focus the show is on the relationship between Middle East uprisings and financial changes as a result of such political transformations. Enjoy.

– You Tube

 

Swiss Government Freezes Mubarak’s Assets

By Samuel Rubenfeld

The Swiss foreign ministry said in a statement its federal council ordered a freeze of any assets believed to be in the name of ousted Egyptian president Hosni Mubarak, who resigned earlier Friday after 18 days of massive protests. …
Read more : The Wall Street Journal

We do care and we can make a difference if we try : Begging bowl of the artist Zeenat Sheikh broken by music lovers

Benefit show for financial help of of Zeenat Sheikh was great Suceess. Begging bowl of the artist was broken by art lovers

by Ali Akbar Hingorjo

Begging bowl of folk artist was broken . We are thankful to the civil society and music lovers of Sindh for their generous participation in Zeenat Sheikh Benefit Show organized by Radio Pakistan Hyderabad. The aged folk singer was really moved by the respect given by the people of her land. Hope our people will continue this trend of providing help and paying tribute to their artists during their life time.

January 16, 2011

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More news about folk Singer Zeenat Sheikh : DAWN NEWS CHANNEL REPORT

Pakistan: the worst yet to come!?

Courtesy: Geo TV (Aaj Kamran Khan ke Saath, 03 December, 2010)

via – ZemTV – You Tube Link

No representation of Sindh in financial institutions

by: Dr Ali Akbar Dhakan

The representation to people of Sindh as it has been observed that in the appointment of heads of all institutions, financial corporations, banks and departments etc no Sindhi has been given the post of the head of the Department, bank and financial institution. In this way Sindhis deserving, highly qualified and experienced have been neglected and not given their constitutional rights and representation in any bank or financial institution.

Even recently, for the post of banking ombudsman, a retired Deputy Governor State Bank of Pakistan has been appointed who got two extensions in State Bank of Pakistan.The deserving people of Sindh are depressed and frustrated so much that from the policies of the PPP Government, they are thinking for diversion of their sympathies, hopes and blessings. Not only the appointment as the heads of banks but even no bank or corporation needs representation of Sindhis as its Board of Director or member of its committees. All intellectuals and parties of Sindh are demanding inquiries and checking of these facts to the effect that why not Sindhis are neglected and given their representations in all financial institutions.The President of Pakistan is therefore requested to issue his orders for providing constitutional representation to Sindhi people in all banks and in institutions.

Apirl 15, 2009

Pakistan: No money, No energy, No government!

New intelligence report says Pakistan is ‘on the edge’
By Jonathan S. Landay and John Walcott | McClatchy Newspapers
Courtesy and Thanks: McClatchy
MORE FROM MCCLATCHY
Severe economic crisis threatens Pakistan’s stability
Wave of violence worsens Pakistan’s security, economic crisis

WASHINGTON – A growing al Qaida-backed insurgency, combined with the Pakistani army’s reluctance to launch an all-out crackdown, political infighting and energy and food shortages are plunging America’s key ally in the war on terror deeper into turmoil and violence, says a soon-to-be completed U.S. intelligence assessment.
A U.S. official who participated in drafting the top secret National Intelligence Estimate said it portrays the situation in Pakistan as “very bad.” Another official called the draft “very bleak,” and said it describes Pakistan as being “on the edge.”
The first official summarized the estimate’s conclusions about the state of Pakistan as: “no money, no energy, no government.”
Six U.S. officials who helped draft or are aware of the document’s findings confirmed them to McClatchy on the condition of anonymity because NIEs are top secret and are restricted to the president, senior officials and members of Congress. An NIE’s conclusions reflect the consensus of all 16 U.S. intelligence agencies.