Loud Thinking January 31, 2015 at 10:29AM

My letter published today by the daily “The Nation”.

An out of box suggestion to reduce debt

January 31, 2015

Dear Mr. Prime Minister, the three recent steps taken by the government such as activation of National Action Plan against terrorism, reduction of the prices of petroleum products and swift control of shortage of petrol in Punjab, initiated under your direct command, speaks volumes about your concerns regarding the public’s welfare, for which you deserves full kudos.

In this regards, I invite your attention to a fragile economic situation and the golden opportunity available to us, in the shape of an international decline of prices of the petroleum products.

Pakistan’s economy is heavily burdened by debt servicing, which, in coming days will increase. We must find some out of the box solutions to eliminate this debt.

Considering that the poorest of the poor has had the trickle down affect of the petroleum prices reductions, it is proposed that the financial benefit of any further reduction(s) on the petroleum products prices should be deposited in a National Debt Servicing Fund, to meet the most important financial need of the country.

I am sure many financial wizards will oppose this proposal and bring their own reasons to not accept the above suggestion, but nevertheless, they should be told that no solution is perfect or ideal and the country cannot shift its focus from its major issues, due to minor problems.

SYED NAYYAR UDDIN AHMAD,
Lahore, January 29.

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