Mir Mohammad Alikhan is an Internationally renowned Investment Banker, Entrepreneur & Capital Markets Advisor. He was the youngest Chairman and Founder of an investment bank in America and the first Muslim to have owned an investment bank on Wall Street. He has had a successful career as Founder & Chairman The Financial Group Inc., Federal Advisor to Pakistan Govt., Member New Jersey Governors Council, Senior Advisor to New Jersey State Mayors and State Senators.
Monday, 24 October 2016
IMF And Its Senseless Comments About Pakistan...#MirMak
IMF And Its Senseless Comments About Pakistan...#MirMak
Imagine you owned a store. Your best customer always bought your merchandise from you on credit. Always paid back on time. You charged him extra for the credit on top of your profits. You had a decades worth of credit history with him. The more he bought the more money you made because of your lending practices. Then imagine all of a sudden he comes to you and says that he will no longer buy on credit from you, and he wants you to close down his credit account. You are about to lose your very good customer so you will do and say anything to hurt his credibility in the market because if you can damage his newly established self sustaining attitude, he will not be able to conduct business anywhere and will come back to you as your customer on credit again.
Well, that store owner is IMF and that customer is Pakistan. In this day and age of economic espionage and psychological warfare on financial credibility of nations, IMF has started a barrage of negative news against Pakistan. Few weeks ago they passed comments on the debt burden of CPEC. Yesterday they commented that Pakistan inflation will double by next year. These are not only irresponsible, they were outright declaration of an economic war hidden in the guise of economic analysis. Then all of a sudden, the french speaking Director of IMF arrives in Pakistan and issues a statement that "Pakistan is out of economic crisis"..Well we know that already as Pakistanis but did her staff at the D.C. organization know it as well ? If they did then why is it that the IMF Director is bullish on Pakistan but the analysis division based out of Washington D.C. is passing negative comments about Pakistan.
Is CPEC being built by IMF money ? Has China borrowed from the IMF to fund projects of CPEC ? Has Pakistan defaulted on its credit that our inflation figures will go through the skies ? No to all of these questions. Then how come the Director says one thing and the policy statement says something else about Pakistan and its future. Is the IMF towing a line of an Anti-CPEC lobby ? Does the IMF want to scare off foreign investments into Pakistan by giving senseless prediction about inflation ? Are they angry that we are progressing towards a state of economy where we might not have to borrow any funds in the coming decades ?
I do not have the answers for these questions but one question i have for the GoP, why is it that nobody has given a rebuttal to such irresponsible anti Pakistani economic analyis statements by the IMF ? Why ? Is MoF sleeping or are they too happy that Christine Lagarde, the IMF director is visiting Pakistan and they did not want to offend her ?
Pakistan comes first. Pakistani economy comes first. Pakistan"s future comes first. Diplomacy and pleasantries come second. Pakistani economy is more important specially now when we are on our way to betterment. No such senseless comments should ever be tolerated, specially when the Director and the staff comments have such contradictions.
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