IMF Says Pakistan's Real Problem Isn't Just Debt – It's Corruption and State Capture

 


IMF Says Pakistan's Real Problem Isn't Just Debt – It's Corruption and State Capture

The International Monetary Fund has delivered a stark message: Pakistan's never-ending economic crisis isn't mainly caused by external shocks or bad luck. The real disease is deep-rooted corruption and "state capture," where a small group of powerful politicians, bureaucrats, and well-connected businesspeople manipulate laws, policies, and institutions to enrich themselves.

Because of this, public money vanishes, taxes aren't collected from the wealthy and influential, state-owned companies continue losing money, and every reform gets weakened or sabotaged. Ordinary Pakistanis pay the price through soaring inflation, crushing utility bills, unemployment, and a currency that keeps losing value.

The IMF is essentially saying: you can keep borrowing billions from us and others, but as long as the elite continue running the country like their private bank, no amount of loans will fix anything. Real change requires transparent governance, fair taxation, an end to VIP exemptions, and breaking the stranglehold of this narrow circle that treats Pakistan as its personal property.

Until the system stops serving a handful of families and starts serving 240 million citizens, every bailout will just be a painkiller, not a cure.

Comments

Post a Comment

Popular posts from this blog

Recall issued for batches of eggs from 6 Canadian Brands

Image
                                                              watchmore The Canadian Food Inspection Agency (CFIA) has issued a recall for eggs from six Canadian brands due to potential salmonella contamination The affected brands include Golden Valley, Compliments, Foremost, IGA, No Name, and Western Family Key Details of the Recall: Distributed in British Columbia, Manitoba, Ontario, and possibly other provinces 3 7 Affects eggs with best before dates of February 16, February 22, and March 1, 2025 7 Triggered by routine test results 7 Risks and Symptoms: Salmonella can cause serious health issues, especially for vulnerable populations. Symptoms include: Fever Headache Vomiting Nausea Abdominal cramps Diarrhea Consumer Advice: Do not consume, serve, or sell the recalled eggs Check lot numbers on the CFIA website Discard or return aff...
Read more

White House fires National Security Agency chief

Image
Watch more The White House has fired General Timothy Haugh, the director of the National Security Agency (NSA), and his deputy, Wendy Noble. Haugh also led U.S. Cyber Command, overseeing both offensive and defensive cyber operations. The reasons for their dismissal are unclear, but it follows a series of high-profile firings by the Trump administration,  including National Security Council staff members. Lt. Gen. William Hartman will serve as the acting NSA director, while Sheila Thomas becomes the acting deputy director .   Top Democrats have criticized the move, citing concerns about national security and the lack of explanation .
Read more

Premium Bonds prize checker: When is February’s draw and how can I check if I’ve won?

Image
                                                                  Watchmore NS&I has announced the February 2025 Premium Bonds draw, with two £1 million jackpot winners from Yorkshire (Kirklees and Sheffield). Here's how to check if you've won: How to Check Prizes : Online: Use NS&I website prize checker Mobile App: Download NS&I app (iOS/Android) Phone: Call 08085 007 007 (if registered for online banking) By Mail: Write to NS&I at Sunderland SR43 2SB Draw Details : Total prizes: 5.9 million Total prize value: £430,052,425 Jackpot winners: Bond 150EN423722 (Kirklees, purchased January 2009) Bond 513EP525664 (Sheffield, purchased September 2022) Winning Odds : 22,000 to 1 for each £1 bond Prize fund rate: 4% Minimum investment: £25 Maximum investment: £50,000 Prizes will be available to check from Tuesday, F...
Read more