Pakistan in the past 5 decades has greatly benefited from the astronomical rise of China’s re-entry in the corridors of world power. China has proven to be Pakistan’s time-tested friend and the two countries’ enjoy time-tested brotherly relations. Pakistan and China must focus on developing their relations to the next logical level. Currently, Sino-Pakistani coordination is mostly limited to national security issues such as development of military applications at cost-effective prices and a sprinkle of Chinese investment in Pakistan’s private sector for the development Pakistani industry. Both countries have time and time again identified the need to make their close relations be reflected by increased commerce and trade however this has been limited due to several structural and stability issues on the Pakistani front. Pakistan should focus on ways to fasten regulation and increase incentives for enhanced Chinese investment in Pakistan’s national economy. Cooperation between China and our country – and the ability of Pakistan to take not just from China’s tangible wealth but also to learn how they produced this wealth and regained their greatness can serve the interests of the rising aspirations of the Pakistani people.

Deng Xiaopeng, chairman of the Communist Party of China remarked that it is ‘glorious to get wealthy’. His remark set in motion the events of 1978, when China took steps to de-regulate its command-style economy and the restructuring that resulted in the conversion of the sleepy town of Shenzhen with a population of 5000 people in 1978 to a major world city with a per capita gross domestic product within the city that would compete with Western standards. Shenzhen was the first site of the Chinese experiment with a new form of Chinese communism – one which took some of the tenets of Marxist-Lennism, blended it with Chairman Mao’s desire for self-efficiency, self-reliance and ‘collectivization’, recognized the basic attributes of 5000 years of Chinese culture and psychology, and gave birth to ‘Communism with Chinese characteristics’.

From 1978 onwards, China has liberated over a three hundred million people out of poverty in mainland China. A Chinese middle class has emerged which makes Western multinationals envy the depth of the Chinese consumer’s pocket. While China may have abandoned collective industrial units of Mao or the collective farming societies, China has created a new form of collectivization. Whether this is inadvertent or not is simply not known, but the Chinese Nation thinks with one heart beat when it comes to perceive dangers to Chinese national interest. For example, the typically holier-than-thou patronizing behaviour of the French towards China annoyed the people of China to such an extent that they collectively used the depth and strength of their pockets to ignore French products. This resulted in a downward spiral of profits which were previously being enjoyed by French multinationals in China. At one point, France used to be the #1 destination for Chinese tourists. After the debacle in Paris when the French hosted that imposter the Dalai Lama and dared to intervene in Chinese internal affairs, France’s popularity dropped dramatically amongst the Chinese. The Chinese stood up for their country. France this summer was holding the rotating presidency of the European Union. The Chinese premier rightfully snubbed Sarkozy by calling the E.U-China summit off. President Zardari was able to ‘snub’ Gordon Brown over the illegal Pakistani student arrest issue by refusing to have a joint press conference only to honour Brown’s presence in Islamabad by having our Prime Minister shake hands appear with Gordon Brown in the press conference and Mr.Brown showed neither remorse nor pain for the emotional horror he caused to the families of those ten innocent Pakistani students – a national disgrace for our pride.

Pakistan is not as weak as her civilian leaders make it seem. In the 1970’s, China was surrounded by hostile states. The U.S was considering the possibility of diplomatic relations with the Revolutionary Republic but it remained hostile to China. The Soviet Union and China were increasingly in an estranged relationship and there was a massive military mobilization on their mutual borders and as a consequence there was a genuine split between both countries. China and its neighbour Vietnam were having tensions, while China’s friction with Japan and South Korea remained hot due to both countries hosting American military bases and the conflict in the two Koreas. In between all of this, there was a recalcitrant India under the leadership of Indira Gandhi who had just defeated China’s principal ally Pakistan and she showed signs of wanting to pick a fight with China to avenge the 1962 national humiliation the Chinese delivered to their largest South Asian neighbour in a brief but bitter war. Yet no one could challenge China. China focused on internal development and decided to make itself internally strong.

What began in 1978 transformed the imagination of the Chinese people. In little over a decade, China marched straight to economic progress and technical recovery. By the turn of the millennium, China’s share in global trade took an increasingly upward trend. China averted a South East Asian recession in 2000 when the tech bubble burst in America caused American demand of products from Japan, South Korea, Philippines and Malaysia to decrease significantly. China however in less than 30 years had managed to build up the required capacity to consume those products and hence cushioned the effects of the tech bubble crisis spilling over to South East Asia. Trade and commerce are not just activities for generating employment but should also be used as instruments of foreign policy.

China’s grand stock of over $1.5 trillion in foreign reserves makes it one of the most powerful countries in the world today. While on news we read about Obama announcing stimulus packages, the Chinese are out there too announcing $600billion stimulus packages for their own national economy. While the principal pillar of growth in China since 1978 has been foreign direct investment, in the year 2008 domestic consumption overtook foreign direct investment in size and its totality.

Pakistan needs to learn from China. We cannot just go with a beggars bowl and ask for $500 million every now and then from Beijing. They are our friends and they care for us because they realize the importance Pakistan can play in the emerging world order. But we cannot be part of the new world order that is coming if we remain addicted to peanuts and crumbs because this is making our decadent political elite even more decadent while Pakistanis are unable to realize the Pakistan Ideal.

Pakistan must learn from China. We must focus on developing a holistic trade policy with China. Chinese investment in Pakistan is critical. The technicalities of what China should or should not invest in are a totally different topic, but the main areas need to be mentioned. The need for

• a fibre optic cable connecting Pakistan and China,
• building consumer and cargo railways along the Karakoram Highway,
• enhanced technical partnership,
• enhanced educational partnership,
• and enhanced energy,
• water security, and
• crop production coordination are the areas
• besides defence where China can play an instrumental role.

This will bold well for our national security and help connect Islamabad into a closer orbit with Beijing. The need to promote Mandarin in Pakistan is also needed. While China has instructed many of its institutions to dedicate a certain portion of their staff to learn Urdu (or any other language that would help China), Pakistan has failed to do this. Pakistani officials can sometimes be so insensitive to China that while the Chinese Ambassador to Pakistan was gifting medals and presents to special Pakistani participants in the Special Peoples’ Olympics, Pakistani officials were busy asking Chinese journalists to sit in the back so that foreign (read European and American journalists) could sit in the front while Zardari would unleash the inimitable light he withholds within and which no one can sense or feel at a press conference few months ago. This is not just comical but it is also painful. Get over the hangover that the white man is the master. He is not. We are the masters of our own destiny, as China has demonstrated.

Pakistan is today surrounded by hostile states with the exception of China and the on-again, off-again double-mindedness of Iran. Even though most of us believe the current rounds of tensions with India began after the Mumbai tensions and allegations, this is not true – they merely came to the surface.

• Indo-Pak tensions have been building since 2004 when India unilaterally began constructing dams in Indian-occupied Kashmir, unilaterally violating the Indus Water Treaty and as a consequence severely cutting the water flow of Pakistani rivers and effecting our food security, energy security, and water security.
• Our tensions have also been rising because of Pakistani support to Sri Lanka’s War Agaisnt Terrorism. Our neighbour has been very unhappy of Pakistani assistance in training the Sri Lankan Air Force in precision guided aerial-bombing which has in fact been instrumental in the current success of Sri Lanka in stamping out the Tamil Tiger Threat.

We must not waiver in our conviction that we have the sovereign right to manage our relations bilaterally with who ever we chose to do so and however we choose to do so. We also must have the conviction in ourselves that we have the right to choose how we wish to perceive any 2nd country and for that matter President Obama should kindly focus on the appalling failure of the U.S in Afghanistan and not focus in Pakistan bashing.

However, the emerging dente in America is to de-hyphenate the Western World’s relationship with India and disregard Pakistani and Kashmiri sensitivity with regard to the ongoing occupation in Indian-occupied Kashmir. This emerging dente is the most dramatic change in the South Asia power equation since decades. The only other changes which occurred were the dismemberment of East Pakistan in 1971 and the creation of a Pakistani atomic weapon which had such a profound implication on the regional security of Pakistan. Who does Washington think it is to firstly decide for the entire Western World and also to stab Pakistan in the back once again? Washington is strong in international affairs, but not as strong as it used to be. This creates a creative dynamic in the corridors of world power and Pakistan can manoeuvre smartly if we took the right steps.

What does Pakistan do in the face of a rising pro-India sentiment in Washington? When in doubt, look to Beijing. While we look to Beijing, we should not expect that the Chinese will always be there. Hence we must introspect. While we introspect, we should take Chinese ideas on the sort of actionable change they were able to bring and then we would make the defence of Pakistan impregnable. For now, Pakistan must deeply search its soul and we must all collectively ask ourselves why our parliamentary democracy has failed in living up to the expectations and zeal of the Pakistan Movement. The answer to this is the ‘FM’ word, and feudalism is bad. But the feudal mentality of Pakistan’s decadent political elite reeks of backwardness and is not going anywhere soon. They would rather meet foreign politicians, foreign leaders, and foreign envoys while compete against other feudal-minded personalities’ on how much they are willing to sell our dignity and our sovereignty for a wink (read chance) to sit in the seat of power in Islamabad and the four provinces. Pakistan is in need of a Pakistani Deng Xiaopeng. A man or woman who will display the courage, the audacity, the credentials, and the eloquence needed to march Pakistan to the path of technical capacity, economic prosperity, and intellectual wealth. This will also ensure that a strong sovereign Pakistan emerges which is capable of standing up for its strategic interests externally in this region and beyond. If Pakistan could banish forever the corruption of the feudal mentality, provide some semblance of stability, and adopt ‘Deng Xiaopeng Thought’, then we could really ensure that rooti, kapra, makan would be more than just rhetoric and make it a reality. We could then also aspire for Gari, tahleem, and an avaaz. This voice would be strong and would reflect the imagination of the Pakistani people. Even the moon would be within our reach – as China has demonstrated.

ISLAMABAD: Prime Minster Syed Yousuf Raza Gilani has said that no country could make progress without good governance as this is the key to success and without observing these norms it is not possible to achieve the desired results. He said the people have given us the mandate for change and there is huge responsibility lying on us to come up to their expectations. The Prime Minister expressed these views while chairing a meeting to review the performance of the Planning Commission and progress of various projects at the planning commission here on Friday.

The Prime Minister directed the planning commission to incorporate 9-Point economic agenda in their planning fold which had already been approved by the Cabinet taking all the stakeholders on board for ensuring better coordination and implementation.

He said he would hold a quarterly meeting to review the status of the projects. He also directed that all future planning should focus on areas which could bring about positive change in the lives of the people through socio-economic development.

The Prime Minister also directed the Planning Commission to adopt proactive approach while envisaging various projects for securing more FDIs for infrastructural development with a view to alleviating poverty from the country.

He further directed for a close coordination with all the ministries while monitoring of the GOP projects and underscored the need to avoid duplication and overlapping of work as it would not only prove counter productive, but would also cause waste of public money. He directed the Planning Commission to induct a woman as a member in the task force to ensure representation of this important segment comprising over fifty per cent of the population.

The Prime Minister said that foremost priority areas before the government are to address law and order situation and the economic crisis as both are interrelated. He said more funding is being earmarked for the infrastructural development and poverty alleviation in the country. He also asked the planning commission that they should formulate policies which have the capacity to absorb both internal and external shocks at the time of crisis.

He said despite global economic recession, Pakistan’s economy has now started showing positive results. He said, not only the inflation is reduced but other economic indicators are also showing improvement. He said that this became possible only due to prudent economic policies introduced by the present government.

Recalling last year’s economic situation, when the country was passing through a difficult time, the Prime Minister said the government took unpopular decisions in the best interest of the country.

He said the government gave more importance to the agriculture sector to make the country self sufficient in food. He said agriculture is the backbone for the economic prosperity and its development must incorporate a pre-defined income security mechanism for farmers that could lead to productivity enhancement and high value crops, focusing internal consumption and increased exports.

He said the other area needing urgent attention is to develop an integrated energy generation and conservation plan in a manner that it could boost our agriculture, industry and other production sectors in overall economic development of the country.

Highlighting the importance of creating a social safety net to protect vulnerable groups of the population through extending outreach of Benazir Income Support Program, the Prime Minister said that it should incorporate comprehensive transparency while covering the poor sections of society. Recognizing the importance of private investment as the main accelerator of economic growth, the Prime Minister asked the Planning Commission to involve private sector in their future projects.

Earlier, Deputy Chairman Planning Commission in his welcome speech gave an overview about the overall working of the planning commission. He said that planning commission which has many task forces providing policy input in core development areas focuses its attention towards better planning and designing of the projects which could deliver and bring change in people’s lives thus contributing towards progress and prosperity of the country. Secretary and the members of the planning commission gave presentation on their respective areas.

ISLAMABAD: The Deputy Chairman Planning Commission, Sardar Aseff Ahmad Ali has called for better alternatives to debt to ease Pakistan ’s fiscal problems and meeting macroeconomic challenges being faced by the country. He expressed these views while chairing the meeting of Asian Development Bank representatives, and government officials of the Planning Commission and other relevant ministries.

Sardar Aseff Ali urged the donors that grant not debt was the need of the time. He said that given the existing economic situation, the country should be looking at other alternatives to debt, adding that even soft debt needed careful review because it had to be returned unless written off.

He said that the public-private partnership and direct foreign investments needed to be encouraged, considering poverty statistics of the country and a situation where painful exercise of rationalization of public sector development programme had to be undertaken.

The ADB fact finding mission led by Jesus Felipe gave a presentation on ‘policy implications of structural transformation in Pakistan,’ with the purpose of the consultation being ‘accelerating economic transformation programme in Pakistan in the context of Pakistan’s fiscal and external problems compounded by the international economic situation.’

The delegation explained that ADB’s role was to contribute to the development of a program that led to upgrading and diversification i.e., structural transformation of economic base in partnership with the country’s public and private sector.

It focused on the need of structural transformation, particularly in the industrial and exports sector. He emphasized that Pakistan should pay attention to increasing the level of sophistication of exports particularly in textiles.

Sardar Aseff Ahmad Ali in his concluding remarks thanked the ADB mission and underscored the need for increased value addition in view of insignificant value addition in exports. One participant suggested that the fastest way to value addition was to bring technology through joint venture as it would have low gestation period but significant impact. Another stressed on the need for ‘indigenous industrialization.’ Ms. Hina Rabbani Khar, Minister of State for Economic Affairs also attended the meeting.

ISMAABAD: Malaysian government agency “The Malaysia’s Professional Services Development Corporation (PSDC)” will channel the Malaysian trade, investment and services to Pakistan. According to statement, received from Pakistan High Commission Malaysia, PSDC’ Manager S. Arokiadass on behalf of PSDC President, IR Ahmad Asri Abdul Hamid speaking in a seminar held by PSDC on the theme “Doing Business in Pakistan” in Kuala Lumpur, said that Pakistan and people of Pakistan are serious and committed to do business, trade and investment with Malaysia.

He said that PSDC will coordinate and facilitate any business venture of Malaysian Professional Services Providers, trader and investors with Pakistan by coordinating their proposals with the Pakistan High Commission and the government of Pakistan.

The High Commissioner for Pakistan in Malaysia Lt. Gen. (R) Tahir Mahmood Qazi in his introductory remarks said that Pakistan provides immense lucrative business trade and investment opportunities, specially in the field of Housing and Construction, Power Generation and Infrastructure Development.

He urged the Malaysia businessmen to avail this time bound opportunity and be a part of six hundred foreign companies which are currently doing business in Pakistan in various sectors of Pakistan’s economy.

The Commercial Counselor for Pakistan High Commission, M. Majid Qureshi gave a comprehensive presentation on the theme “Doing Business in Pakistan” to a large number of Malaysian Professional Services Providers, bankers, traders, investors and business persons who attended the seminar in a large number.

Majid Qureshi during his presentation said that despite of global economic slow down; various indicators of Pakistan’s economy are still positive and healthy. He said that all sectors of Pakistan’s Economy are open for foreign investment barring security printing and explosive.

He said that Pakistan offers immense opportunities for foreign investors in the field of Housing and construction, renewable energy, agriculture and Infrastructure Development. He said that any businessperson of Malaysia who intends to visit Pakistan may contact Pakistan High Commission which in turn will not only facilitate his visit to Pakistan, but will provide all necessary assistance and guidelines for his business venture in Pakistan.-SANA

ISLAMABAD: The Economic Coordination Committee (ECC) on Tuesday authorised Trading Corporation of Pakistan (TCP) to import 200,000 tonnes of refined sugar to meet an expected shortfall this year. ECC of the Cabinet met under the chairmanship of Adviser to PM on Finance and Economic Affairs, Mr. Shaukat Tarin here at the Prime Minister’s Secretariat and considered Ministry of Industry and Production’s summary reviewing sugar industry prices, availability of stock, probable domestic consumption and.

ECC directed TCP may import 200.000 tons of refined sugar in phases, breaking up the import process in manageable tendering size and ensure that overall market pricing of sugar at USC outlets is maintained at Rs.38 per kg. ECC authorised TCP to import of refined sugar in phases.

The government decision to import refined sugar comes after domestic sugar prices increased more than 23 percent to 42 rupees/kg from 34 rupees two months ago. In December, the government said that it would import raw sugar but deferred a decision on the amount until an assessment of how much was needed. The government and industry bodies had expected refined sugar output in the 2008/09 financial year would fall to between 3.5 and 3.6 million tonnes.

ECC also decided not to impose export duty on export of molasses, advising TCP to offload one lac tones sugar from its own stocks through USC outlets to supplement domestic market needs.

While reviewing FBR proposals for modification/revision of regulatory duties on paper, paper board, ceramics tiles, flat rolled products of iron/steel, glassware and potatoes, ECC decided to allow exemption of duty for twelve months window period to international franchise food chains for import of ware potatoes in order to encourage Foreign Direct Investment (FDI).

It also advised the concerned GOP organizations to take up the matter of indigenizing the production of processed ware potatoes with international food chains during the said period. ECC, however, decided that existing regulatory duty on all other imports of ware potatoes for sale in the market shall continue to remain liveable.

ECC deferred consideration on modification of regulatory duty on flat rolled steel products, advising FBR to review overall steel related proposals in consultation with stakeholders, complete its technical homework and resubmit the proposal. ECC allowed FBR to modify/revise regulatory duties on other items of input used in local industry of paper board and ceramic tiles.

ECC considered FBR summary for items included in the list of anomalies cases taken up by Tariff Anomaly Committee (TAC), besides other proposals for levy of regulatory duty and approved its proposals to modify/revise regulatory duties on items like viscosc twisted yarn, cryogenic tanks, ceramics ware, HRC stainless steel sheets and other industry specific products. ECC also allowed FBR corrections in its various SROs through technical rewording/rephrasing.

In the end, Governor State Bank briefed the ECC on Central Bank’s existing fiscal policies aimed to ensure positive liquidity flow in the banking system, balanced market interest rates and improved forex reserves.-SANA

ISLAMABAD: Federal Minister for Overseas Pakistanis, Dr. Farooq Sattar has called for introducing new policies to increase foreign remittances from $ 7 billion to $ 15 billion and for the purpose incentives should be given to Overseas Pakistanis. The Minister expressed these views while talking to the State Bank of Pakistan Governor, Syed Salim Raza who called on him here on Tuesday.

He said Overseas Pakistanis investors would be attracted through incentives to invest in housing and textile sectors in the big cities like Karachi and Lahore in the country. The availability of ideal atmosphere is necessary for the foreign investment. District governments can play a vital role to create opportunities of investment in the housing sector.

The minister said the services of commercial attaches appointed in Pakistani missions abroad should also be utilized to increase foreign investment in the country. For the purpose they should make contacts with them and have better interaction.

The minister said pharmaceutical sector has big potential abroad and Pakistan can send professionals of this field to foreign countries to earn a big amount of foreign exchange. Such institutions of well repute will be established in the country in collaboration with Agha Khan University and its other affiliated institutions to produce qualified professionals to meet demand of the foreign countries.

He proposed to subsidize services charges in transaction of money to bring more remittances in the country and added that the Ministry is running an insurance scheme under Overseas Pakistanis Pension Trust to provide an opportunity of investment to Pakistanis living abroad. The initiation of Foreign Currency Product Investment (FCPI) scheme for Overseas Pakistanis was also discussed in the meeting as this scheme can also attract investment in the country.-SANA

ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani will inaugurate joint venture in pharmaceutical field between Pakistan and Argentina in January 2009. This was stated by the Minister of State for Investment Saleem H. Mandivewalla, here on Saturday.

The Minister of State, after the meeting with Argentinean Ambassador, Rodolfo J. Martin Saravia told the reporters that various ways and means to further enhance economic relations between Pakistan and Argentina were discussed in defile during the meeting.

It may be noted that various Argentinean companies are keen to invest in Pakistan. The ambassador told the Minister of State that BAGO group of Argentina is investing in a joint venture; with Ferozsons Laboratories, being the first Pharmaceutical Company, not only in Pakistan but in the region to meet U.S. Food and Drug Administration (US FDA) and EU specifications and standards.

The joint venture will not only provide medicine for prevention of Cancer and Hepatitis C for Pakistani market at affordable prices but is also designed to produce the medicine in large quantity for Latin American region.

The Ambassador also mentioned that more companies are looking towards Pakistan as investment destination, and Joint ventures for establishment of CNG stations, exploration of Gas and development of tourism sector. Argentina is one of the leading countries in manufacturing of CNG Kits and accessories, and joint venture to manufacture Cylinders and compressors in Pakistan are under active consideration.

The Minister of State appreciated the interest of Argentinean companies and private sector to invest in Pakistan and assured all possible facilitation from Board of Investment to materialize the projects on fast track basis.

Board of Investment has been actively working with Argentinean Company, BF Bioscience Limited, since March 2008. The Minister also told the Argentinean ambassador that Pakistan was open for business and Board of Investment provided all support and assistance to investors to make investment a successful proposition, to make it cost competitive in the region to realize the vision of making Pakistan an export and business hub.-SANA

The Pakistan Economy Watch on Saturday said Pakistanis have lost billions of dollars of investments in speculator-oriented Dubai real estate property downturn. Those who lured Pakistanis by showing them golden dreams of rich returns by investing in the oil-poor emirate have walked away. These include salesmen, so-called developers, intermediaries and bankers, etc who must be brought to book.

Shares of top property giants in Dubai have fallen as much as 85 per cent bringing many mega projects to halt, said Dr. Murtaza Mughal, President Pakistan Economy Watch while unveiling ‘overseas risk report’. Many local and foreign companies have opted for mergers to avoid bankruptcy. The giants are cutting expenses, plans and number of employees.

He said the losses in the realty sector are roughly equal to that of GDP of Dubai. The government of UAE is pumping billions to avoid failure. 30 billion dollars have been pumped in the banking system and selling of some highly acclaimed assets is under serious consideration.

Dubai is facing losses to the tune of hundreds of billions of dollars and risk of defaults. The situation has result in stock exchange crash, dried up credit and shaky wealth funds. Banks have minimised limit of credit cards and mulling their ability for foreclosures. “UAE has already lost 100 billion dollars in the global crunch and it has 500 billion dollars of assets,” said Dr. Murtaza Mughal adding that it is already under stress due to some 60 per cent slide in oil prices.

The plans to make Dubai a hub of financial activities may not realise as attempts for unnatural growth result in such a situation, said Dr. Murtaza Mughal. -PAK Economy Watch

Pakistan Economy Watch on Saturday said Mumbai terror attacks are an incident bigger that the assassination of Indira Gandhi in 1984 and that of Rajiv Gandhi in 1991. India will remain target of homegrown terrorist until it reviews misaddressed policies.

It is a big attack on Indian psyche which will severely damage the 1.2 trillion economy which is already under intense pressure due to global crunch. Overseas investors have pulled out a record 15 billion from the stock market and the flight of capital as well as foreign investors continues, said Dr. Murtaza Mughal, President, Pakistan Economy Watch.

The attacks are bound to hurt morale and sectors like tourism, hospitality, IT etc. The growth rate may decline by 3.5 per cent causing economy to limp. “The incident will increase cost of doing business and security expenditures will be an extra burden on economy,” he said adding that the negative impact of the attacks will be much more than the September’s Marriott Hotel bombing in Islamabad. “The development has emerged as a new challenge for America and US many not be able to concentrate on economy,” said Dr. Murtaza Mughal.

New Delhi should put its own house in order before blaming others
The terror attacks can define new dimensions in the war against terror and has potential to push Indian policy makers to review the foreign policy as well as that of systematic exploitation of religious minorities including Muslims, Jain Community, Sikhs, Christians, Buddhists and Dalits etc. “How can New Delhi blame Pakistan when it has over 120 militant movements in northeast alone,” asked Dr. Murtaza Mughal adding that Hindu fundamentalism will land this country into more troubles.

India always concentrates on Muslims while Hindu rightwing RSS, Shiv Sena, Vishwa Hindu Parishad and others who push Brahmanism have been allowed to play havoc with minorities, especially Muslims. India cannot deny the birth of many homegrown terror outfits. She should deal with it on its own. The policy to blame Pakistan soon after any incident will not help any country in the region but terrorists. Empty talk of non- violence is not going to work forever and the world knows the reality behind rhetoric.-DSANA

ISLAMABAD: Former Secretary General and Minister of State Akram Zaki said on Tuesday privatization and foreign investments are the biggest illusions of the century, it should be banned immediately. He said that we crossed all limits of self-deception and put the future of the country at stake due to dictated policies and imported rulers. Tall claims and dual standards will never help satisfy masses or change the fate of the country.

Akram Zaki said this while speaking at a meeting. He said that government should immediately ban foreign investment in existing ventures and allow it in the new projects, if necessary. Foreign investors view Pakistan as hard area and steps in with one aim; to generate maximum profits in minimum time and go back. They have no interest in infrastructure development. We should know deceit behind their sweet words.

He said that privatization spree has endangered national security and sovereignty. Golden handshakes have contributed to unemployment, crimes and poverty. Privatized entities have stopped providing services to rural areas. Entire focus has been shifted on urban centers which is hurting the fabric of society.

The former Secretary General regretted that out government has never tried to know the consequences of privatization. PPP initiated nationalization and now the very same party is bursting all its cylinders to sell everything we have.

At this occasion Dr. Murtaza Mughal, President, Pakistan Economy Watch said record shows that privatization has never improved working of any unit in Pakistan. It has only changed faces and contributed towards miseries.

Foreign experts are a serious threat to national security and economy, he opined. “A country will never send good experts to other country,” he said adding that we only receive trash in the name of experts who eat up major chunk of loans while man on the street is over burdened for no crime on his part. “Many countries including China and India progressed by avoiding such experts and Pakistan can have some control over these elements if it cannot resist their appointments, said Dr. Mughal. The past and future of foreign experts belongs to other countries, how can we pin hopes on them.-SANA