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Is Pakistan facing bankruptcy ?

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By Abdul Khaliq/ Pakistan’s sovereign debt is going to be the riskiest. For the week ending Aug 29 2008, Government of Pakistan bonds overtook Argentina’s to be the unsafe for investment, say London financial market indicators. In London, where Credit Default Swaps (CDS) are traded, the price for insuring $10 million worth of Argentina’s debt stood at $788,000 while the price to insure the Government of Pakistan-guaranteed debt skyrocketed to $950,000 — something that has never happened before — Pakistan’s ... Read More »

Debt challenges to South Asia

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By Abdul Khaliq/ Debt has become the most important problem for the countries of the developing world. The nations that are the poorest in the world are also the most highly indebted. There cannot be any doubt in the minds of economists, sociologists, political scientists or the general public that debt has become a burden for the poor nations rather than the much-advertised source of financial help to these countries. Therefore, nothing is more important than the debt question. Pakistan, ... Read More »

Plundering Public Assets – Story of Privatization in Pakistan

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By Abdul Khaliq/ Pakistan, under the gospel of market economy is aggressively pursuing the policy of market liberalization and privatization since 1991. Government of Pakistan during 1990s after being hit by economic downturn was forced to adopt Structural Adjustment Program (SAP) under IMF to reform economy suffering from macroeconomic instability. Under the SAP, it adopted the policy of market liberalization, privatization and deregulation. Pakistan, since then seems to have indulged in privatization binge under which plans have been set to sell ... Read More »