Loud Thinking November 16, 2014 at 12:38PM

Mian Muhammad Nawaz Sharif,

Honourable Prime Minister of Pakistan,

Dear Sir,

Please remember that MAN IS MORTAL HIS GOOD DEEDS ARE IMMORTAL.

Kindly peruse below a news item published today by the Times of India, which reflects that the Indian PM is talking nothing at the G20 summit in Australia, except about the BLACK MONEY repatriation to India.

Mr. Prime Minister, we are very surprised that although, BLACK MONEY was the main agenda of the PMLN’s Elections 2013 campaign, yet, you have personally never ever talked on this issue, since you became the PM in June 2013.

Your Excellency, the nation demands that your government must seriously fulfil its promises on bringing back nations looted money from abroad; and also fulfil another extremely important promise of breaking the bowl of foreign loans.

Moreover, please also ask your finance minister that he should remember that he was the minister of the Pakistani government and not appointed by either the IMF or the Swiss government. He should not ruthlessly tell the nation that looted money repatriation from abroad was well neigh impossible; and at the same time our government officials are continuing excursion trips of Switzerland, as if they were employed by the nation to have joy rides.

Everyone going abroad on state expenses, must inform on return to the nation that what tangible benefits materialised for Pakistan, due to his foreign trip.

Mr. Prime Minister, please also stop your ministers and officials from taking the nation on a ride.

Mian Sahab, the nation wants results on your promises of bringing back the black money from abroad and breaking the bowl of the curse of the foreign loans. We Pakistanis do not want to be burdened with useless statements and more and more IMF loans.

Kindly give the following ONLY Two tasks to Mr. Ishaq Dar for completion, during your current tenure:

– To get rid of Pakistan from the entire foreign debt, either by getting it written off or by any other way.

– Bring back the ENTIRE looted money of Pakistan of ANYONE and EVERYONE, parked anywhere in the world.

And if the finance minister says that he can not accomplish these two assignments or to him these two tasks looks impossible … then please appointment someone else, as the finance minister with these monumental assignments, which if achieved, will make the tenure of your current rule IMMORTAL.

Mian Sahab, remember MAN IS MORTAL HIS GOOD DEEDS ARE IMMORTAL.

Times of India news report published today, is as below:

G20 summit: Narendra Modi calls for ‘close coordination’ on black money

BRISBANE: As India makes attempts to recover black money from abroad, Prime Minister Narendra Modi on Sunday asked every country, especially tax havens, to provide information for tax purposes in accordance with treaty obligations.

Raising the pitch on the black money issue, Modi in his intervention at the summit of the Group of 20 industrialized and major emerging economies called for close global coordination to address the challenge posed by it.

Modi voiced India’s support for a new global standard on automatic exchange of tax information, saying it would be instrumental in getting information relating to unaccounted money hoarded abroad and enable its eventual repatriation. He also extended India’s backing for all initiatives to facilitate exchange of information and mutual assistance in tax policy and administration.

The prime minister made the remarks at the plenary session on the subject of “Delivering Global Economic resilience” on the second and final day of the summit held at the Brisbane Exhibition and Convention centre.

He also expressed the hope that Base Erosion and Profit Sharing (BEPS) system would fully address concerns of developing and developed economies.

BEPS is a technical term referring to the effect of tax avoidance strategies used by multinational companies on countries’ tax basis. BEPS is known more commonly as “Transfer pricing”

This term is used in a project headed by the OECD that is said to be an attempt by the world’s major economies to try to rewrite the rules on corporate taxation to address the widespread perception that the corporations don’t pay their fair share of taxes.

The prime minister also said that increased mobility of capital and technology have created new opportunities for avoiding tax and profit shifting.

Modi underpinned the need for the world community to take coordinated decisions although each country has its domestic priority.

“Need for policy coordination among major economies remains strong,” he said.

“Close coordination is important not just for addressing the challenge of black money but also security issues like terrorism, drug trafficking and arms smuggling,” he said.

Touching upon the resilience of the financial system in the world, Modi said it will also depend on cyber security.

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