An open letter to the PM..!

Mian Muhammad Nawaz Sharif,

AoA.

Sir,

Please note that it is the prime duty of the PM Pakistan to use all his abilities and resources at his disposal, to free Pakistan from the foreign debt, rather than allowing taking of more burden of loans, to pay off the old loans.

Already, the debt repayment situation has reached an extremely alarming level to the extent that almost more than 40% of the tax revenue goes into the debt repayment. And in the coming years, the current high interest rate loans repayments may eat up almost the entire tax revenues.

This grave situation may not only create unprecedented economic hardships; but can badly erode the military capabilities as well; resulting in virtual collapse of the economic and geographical sovereignty of Pakistan.

Under the circumstances, no one else in the country but you Mr. Prime Minister, may take this challenge to utilise all your abilities and resources, to arrange a 100% foreign debt write-off for Pakistan.

In this regard, as a first step, since you are visiting Germany from Monday, this issue may please be taken up with the German leadership, for garnering support for the write-off of the entire Pakistani foreign debt, in consideration for its services, in the War on Terror (WOT) plus the permission granted for the FREE use of Pakistan’s air space, to all the 49 nation coalition of NATO forces: which if had been charged during the last 15 years of WOT, would have amounted to earnings to Pakistan of about a trillion US dollars (1000 billion USD). Against which amount our entire foreign debt is much less than $100 billion.

Mr. Prime Minister, besides the German leadership, you should also take up this case individually, with all the 49 countries of the NATO’s alliance on WOT in Afghanistan.

Last but not the least, most of the financial experts will advise you that this is a pipe dream and well neigh impossible. Sir, simply tell such advisors that in order to achieve the impossible, it is precisely the unthinkable which must be thought. Moreover, in the past as well, most of the people discouraged the Quaid-e-Azam, by saying that carving an area for the creation of Pakistan from India, was impossible. However, his sheer determination, unflinching conviction for his just cause and focus on solution instead of the problems, enabled him to achieve the once impossible looking task.

With best wishes and kind regards.

Syed Nayyar Uddin Ahmad
10 November, 2014.

Tags: My Views