Tag Archives: Rich

The profit of misery: what they know and we do not

– Dr Manzur Ejaz

The ruling elites induce various crises to make money for themselves and their allies. From the power crisis to sugar shortages, every occasion is used to siphon off billions of dollars to private accounts. The misery of the Pakistani people has become a profitable commodity for the rich and powerful …

Read more : Wichaar

ROLE OF BANKS TO HELP THE FLOOD AFFECTED PEOPLE IN PAKISTAN

by Dr Ali Akbar Dhakan, Karachi, Sindh

Since denationalization, liberalization and privatization of banks in Pakistan mostly 1980s, the private banks and foreign banks have earned Trillions of Rupees as profit yearly. At present there are 4 bank in public sector, 4 specialized banks, 25 private local banks, 7 foreign banks, 8 development financial institution and 7 micro finance banks.Since their start, they have earned not less than about 20 billion each every year. If we see their performance they have done no service for the common people of Pakistan .They have earned their profit for their owners (Seths ) and they keep that money in foreign countries for their future safety and children and families to live abroad with luxuries and lavish expenditures .In the days of tragedy and calamities throughout the country Pakistan, they must have felt their utmost duties and responsibilities to bring back all the money kept by them in the foreign countries and donate at least rupees 2 billion each bank to rehabilitate and accommodate our devastated people who are bravely facing with the hardships and odd times in the floods.

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While, Pakistanis are dying to be pro-Arab, the beloved Ummah doesn’t give a damn!!!

DIPLOMATIC BUBBLES: Disaster tourism amidst concern for Muslim Ummah —By Saeed Minhas

Excerpt:

…. Countries like Saudi Arabia, Kuwait, UAE, Egypt and their oil-controlling giant Organisation of Petroleum Exporting Countries (OPEC) has contributed only a couple of hundred million dollars altogether, and that too through the Red Crescent or other International organisations for in-kind donations. Despite knowing that over 65 helicopters, 19 of which come from the US alone, are working around the clock, none of these oil-rich countries have even asked to foot the oil bill or donate oil for these humanitarian sorties. An hour of a helicopter flight costs an estimated Rs 100,000 in fuel expenses alone, and so far as per the Pakistan Air Force (PAF) figures, over 200 hours of flight operations have been carried out throughout Pakistan.

Another diplomat chipped in by saying that all these ‘brothers’ seem to be good enough for political and strategic guarantees but nothing more for Pakistan. …

To read full article >> Daily Times

WASHINGTON DIARY: Their rich and ours

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Dr. Manzur Ejaz

Dr. Manzur Ejaz

Courtesy: Wichaar, November 11th, 2009

One can detect the difference of behavioural patterns of the rich and powerful in the western and developing world. It is likely that the members (or their spouses) of the highest legislative bodies of the US would be going to stores for grocery shopping and to take care of other chores. Many of them can hardly afford domestic help. Therefore they remain close to the basic realities of their society.

Forty-six of the richest Germans have startled the world by posting an online petition asking their government to raise their taxes to help society out of the economic downturn. Similarly, when President Bush was cutting taxes for the rich Americans Warren Buffet, one of the richest US investors protested and said that he is already paying lower taxes than his secretary. Why do some rich people in western countries, unlike their counterparts in countries like Pakistan, preach higher taxes for themselves?

Most probably the western rich class, or part of it, believes that they are an organic part of society. Probably they feel that if society gets sick, their well being will be jeopardised as well. On the contrary, the rich in countries like Pakistan are used to the impoverishment of the general masses. They do not relate to society as an organic whole and consider themselves a separate category from it. Consequently, when the economic conditions deteriorate and the general public suffers, they remain unconcerned. As a matter of fact they thrive on the impoverishment of the common man.

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