Tag Archives: taxpayers

View from McLeod Road: Why the Sino-Pak alliance is economically worthless

In the 12-year period between July 2000 and June 2012, net foreign investment in Pakistan amounted to about $29 billion, of that, just $0.8 billion came from China

KARACHI: Pakistan’s leaders love using laughably outrageous metaphors in describing the country’s relationship with China, yet the truth is that this so-called alliance means almost nothing positive for the Pakistani economy.

All of Islamabad – indeed all of Pakistan – appears to be bending over backwards in laying out the red carpet to welcome Chinese Premier Li Keqiang. But the fact of the matter is that China will give Pakistan almost nothing, and this two-day trip is really only being made by the Chinese premier to avoid slapping Islamabad in the face completely, after having made his first trip abroad a three-day visit to India, in a key signal about the real shifts in Chinese foreign policy.

Pakistanis love to proclaim China as our “all-weather friend. In his last visit to China, former Prime Minister Yusuf Raza Gilani described the relationship ashigher than mountains, deeper than oceans, stronger than steel and sweeter than honey.”

On this trip, Premier Li described the relationship as “a tree, now exuberant with abundant fruits”.

This was not him being poetic. It was delivering a message that nobody in Pakistan seems to have gotten: that China’s ties with Pakistan are not some eternal alliance of friends, but a strictly utilitarian relationship in which Beijing uses Islamabad occasionally to scare the living daylights out of the United States and India to get what it wants in its negotiations with Washington and New Delhi, and then abandons Pakistan once that transaction is completed.

A look at the numbers suggests that the Islamabad-Beijing relationship has had very little benefit for Pakistan as whole.

In the 12-year period between July 2000 and June 2012, net foreign investment in Pakistan amounted to about $29 billion, according to the State Bank of Pakistan. Of that, just $0.8 billion came from China, and nearly all of that was China Mobile’s investment in Zong.

China’s investment in Pakistan is less than that of tiny Netherlands, which invested $1.4 billion during that time. The supposed “Great Satan” – the United States – invested the most in Pakistan: $7.7 billion, or more than a quarter of all foreign investment in the country. There is only one major Chinese company with actual investments in Pakistan: China Mobile. The number of major US companies investing in Pakistan? More than 30.

Continue reading View from McLeod Road: Why the Sino-Pak alliance is economically worthless

US Suspends $800 Million in Military Aid to Pakistan‎

– U.S. Suspends $800 Million in Pakistan Aid

WASHINGTON— (Associated Press) – President Barack Obama’s chief of staff confirmed that the U.S. is suspending $800 million in military aid to Pakistan.

William Daley said the U.S. relationship with Pakistan is “difficult” and must be made “to work over time.” But he told ABC television’s “This Week” that until “we get through that difficulty, we’ll hold back some of the money that the American taxpayers are committed to give” the U.S. ally.

Mr. Daley says the countries are trying to work through issues that have strained ties.

The New York Times reported that the U.S. is upset with Pakistan for expelling American military trainers and wants tougher action against the Taliban and others fighting American soldiers in Afghanistan.

Tensions between the countries have surged since U.S. forces killed Osama bin Laden in Pakistan in May.

Courtesy: → THE WALL STREET JOURNAL

IT’S NOT CORRUPTION WHEN WE DO IT.

by Ghulam Haider

Journalistic corruption is doubly evil because infected columnists and ‘plot-zada’ journalists then collude with corrupt generals, politicians and bureaucrats and aid them in their thievery in the hopes of a few crumbs falling their way.

The institutionalized loot and plunder of state resources, especially the allotment of expensive residential plots to hand-picked Darbari journalists by successive governments to ‘shackle their pens’, has reached unprecedented heights in Pakistan.

The so-called fourth pillar of the state – the press – has been witnessing its foundations reeling under the burden of the ‘legendary journalists’, who do not tire while preaching morality and ethics on electronic and in print media, have become the part of this dirty loot.

Media are considered a watchdog for any society. Journalists are supposed to point out loopholes in the government policies for safeguarding public money and greater public interest. But one wonder if journalists too get themselves involved into dirty plot politics, who would safeguard greater public interest and the interest of tens of teeming millions who are shelterless, jobless, needy and poor, who perhaps deserve far more than those for whom the floodgates of the taxpayers’ money see no limit. …

Read more : ViewPoint