Arif Habib consortium emerges victorious in PIA auction with Rs135bn bid

[Wasim Ghulam]

Yes, it is and as I said, even a five-year-old understands that 25% profit is better than a 100% loss. Unfortunately, that seems to be something you still haven’t managed to understand.

So what you’re actually suggesting is that the government should keep coughing up money from its own pocket every single month, instead of taking a 25% profit? That makes absolutely no sense.

Even a 5 year old will understand when you put up your company for sale you do not consider how much losses can happen in future. that's why you are choosing to sell it in first place genious

but you can't just give it away in fire sale taking all the thorns in PIA business on yourself like legacy debt and giving away your bid proceeds as re investment Leaving out pure pie for the buyer

 

[emranabbas]

Even a 5 year old will understand when you put up your company for sale you do not consider how much losses can happen in future. that's why you are choosing to sell it in first place genious

but you can't just give it away in fire sale taking all the thorns in PIA business on yourself like legacy debt and giving away your bid proceeds as re investment Leaving out pure pie for the buyer

Explain to me why should the government keep injecting money in PIA and where is that money going to come from?

Like I said your clueless about bussiness so Stop embarrassing you self furthers

Don't do no ping pong answer these 2 questions

1) why should the government keep injecting money in PIA when it puts them in further debt

2) where is that money going to come from?

 

[Bewal Express]

Agreed both things can be criticized

But PIA had become a major burden, and getting rid of it was the most practical option.

At this point, there is no evidence to suggest this was a scam. The detailed terms of the deal haven’t been fully disclosed yet, and until they are, there’s nothing concrete to point to any wrongdoing.

For now, it simply appears that the government wanted to offload a long-standing liability that was draining public resources.

262 out of about 860 civilian pilots in the country were found to be using fake or suspicious. Who allowed this to happen? Surely someone in the mafia should have stopped this. Who do you blame for incredible large number of fake or suspicious licences

 

[Wasim Ghulam]

Explain to me why should the government keep injecting money in PIA and where is that money going to come from?

Like I said your clueless about bussiness so Stop embarrassing you self furthers

Don't do no ping pong answer these 2 questions

1) why should the government keep injecting money in PIA when it puts them in further debt

2) where is that money going to come from?

Govt has decided to sell it. so questions itself are irrelevant. no one is objecting to idea of selling PIA. real objections is the effective give away to the buyer.

You can sell the company that's making losses and still get fair value for the deal .. these are not mutually exclusive

If Idea is to keep PIA afloat not just sell it , reason is being given that PIA is the only airline with operation European and American routes and no new airline can get those. Does nt the buyer group understands it or seller understands it that this where value lies? 135 billion is reasonable Bid but giving back 125 of it is ridiculous. If buyer was unwilling to invest 125 billion of its own money where according to you profit prospect are 8 billion a month , then this fundamentally flawed deal because we know many investors would jump in with 125 billion knowing they have zero liability to Pay off and have an airline to run with trained staff , an established brand name and ground operations

 

[Bewal Express]

Explain to me why should the government keep injecting money in PIA and where is that money going to come from?

Like I said your clueless about bussiness so Stop embarrassing you self furthers

Don't do no ping pong answer these 2 questions

1) why should the government keep injecting money in PIA when it puts them in further debt

2) where is that money going to come from?

The PIA needed a fully transparent privatisation. What it didn't need is Russian style oligarch looting that made Abrahamovich and other crooks billions.

 

[Bewal Express]

Govt has decided to sell it. so questions itself are irrelevant. no one is objecting to idea of selling PIA. real objections is the effective give away to the buyer.

You can sell the company that's making losses and still get fair value for the deal .. these are not mutually exclusive

If Idea is to keep PIA afloat not just sell it , reason is being given that PIA is the only airline with operation European and American routes and no new airline can get those. Does nt the buyer group understands it or seller understands it that this where value lies? 135 billion is reasonable Bid but giving back 125 of it is ridiculous. If buyer was unwilling to invest 125 billion of its own money where according to you profit prospect are 8 billion a month , then this fundamentally flawed deal because we know many investors would jump in with 125 billion knowing they have zero liability to Pay off and have an airline to run with trained staff , an established brand name and ground operations

I cant believe that anyone with any sort of empathy with a poor country can defend this robbery by what the IMF described as predatory elite.

 

[Wasim Ghulam]

I cant believe that anyone with any sort of empathy with a poor country can defend this robbery by what the IMF described as predatory elite.

we already know about predatory elite in this country but seeing posters here pose as Pakistani and defend this makes your head spin

 

[Bewal Express]

we already know about predatory elite in this country but seeing posters here pose as Pakistani and defend this makes your head spin

They have no empathy with PK or its people. Their day starts and ends with enjoyment of the destruction PK and its institutions because they fear IK popularity or what is commonly called Bughaz e Imran

 

[Wasim Ghulam]

They have no empathy with PK or its people. Their day starts and ends with enjoyment of the destruction PK and its institutions because they fear IK popularity or what is commonly called Bughaz e Imran

is it because they dnt live here?

Because people who live in this land know whaf they go through

 

[Bewal Express]

is it because they dnt live here?

Because people who live in this land know whaf they go through

I think its a deeper issue of lack of humanity and lack of empathy.

 

[Kianig89]

They all are part of this looting nexus , henceforth the ferocity

 

[Bewal Express]

They all are part of this looting nexus , henceforth the ferocity

Did you see my reply to @Major. He summed up the courage to reply and he will go Gunga again. The " daddies" dont get Portuguese passports without making $$$$$$

 

[Ball Blazer]

PIA privatisation drives PSX past 172k mark​

The KSE-100 Index posted a solid +0.58% gain on a week-on-week basis, closing the period on a positive note amid strong investor sentiment.

The primary catalyst was the landmark privatization of Pakistan International Airlines (PIA), finalized at Rs135 billion (approximately US$480 million), marking one of the largest and most significant privatization deals in Pakistan's history.

The successful auction, won by the Arif Habib-led consortium for a 75% stake, signals a major step toward reducing the government's burden from loss-making state-owned enterprises and boosting private sector confidence.

A positive session was observed at the exchange, as the index gained to close at an all-time high of 172,400 level (up by +0.92%).

Top positive contributions to the index came from ENGROH, PPL, SYS, NBP, and MLCF, as they cumulatively added +774 points to the index, according to Topline Securities. Traded value-wise, BOP (Rs3.1b), NBP (Rs2.94b), SEARL (Rs2.05b), PPL (Rs2.03b), PTC (Rs1.51b), and MLCF (Rs1.35b) dominated the trading activity. Traded value and volume for the day stood at 797 million shares and Rs38b, respectively.


This positive momentum was further supported by the State Bank of Pakistan's (SBP) recent 50 basis points policy rate cut to 10.5%, which continued to encourage investment in equities by lowering borrowing costs and improving liquidity. Trading activity remained robust, with average daily volumes at 736 million shares and a value of Rs31.5b.

Analysts view this as a turning point for market reforms, with the PIA deal expected to pave the way for more divestments and enhanced economic efficiency.

PIA privatisation drives PSX gains | The Express Tribune

KSE-100 rises 0.58% on historic Rs135b deal

tribune.com.pk

 

[mazkhan]

Pia privatision needed to be done its also one of the requests of the imf , the imf programme whom the cults peer signed up to after saying many times he will commit suicide than rather go to the imf .

And if they are bringing the fauji element into this deal

Plz do remember cultists the hey deys of pia were the 60s and 70s and also when it helped emirates get off the ground, pia had designer pierre cardin uniforms and whom was in power mostly in the 60s and 70s one was a field Marshal and another a general zia so it ran fine under military then didn't it .

 

[emranabbas]

Pia privatision needed to be done its also one of the requests of the imf , the imf programme whom the cults peer signed up to after saying many times he will commit suicide than rather go to the imf .

And if they are bringing the fauji element into this deal

Plz do remember cultists the hey deys of pia were the 60s and 70s and also when it helped emirates get off the ground, pia had designer pierre cardin uniforms and whom was in power mostly in the 60s and 70s one was a field Marshal and another a general zia so it ran fine under military then didn't it .

This is one of the best deals made, but many people don’t fully understand it or are deliberately trying to undermine it because of political differences big benefit for Pakistan.

 

[IronShield]

Pia privatision needed to be done its also one of the requests of the imf , the imf programme whom the cults peer signed up to after saying many times he will commit suicide than rather go to the imf .

And if they are bringing the fauji element into this deal

Plz do remember cultists the hey deys of pia were the 60s and 70s and also when it helped emirates get off the ground, pia had designer pierre cardin uniforms and whom was in power mostly in the 60s and 70s one was a field Marshal and another a general zia so it ran fine under military then didn't it .

So you have any coherent contribution to anything that is being discussed? Or should I assume that is also beyond your intellect like @Devadwal's Pakistani cousin.

 

[IronShield]

This is one of the best deals made, but many people don’t fully understand it or are deliberately trying to undermine it because of political differences big benefit for Pakistan.

The floor is yours... tell us step by step how it is the best deal.

 

[emranabbas]

The floor is yours... tell us step by step how it is the best deal.

follow the thread its all there

 

[IronShield]

follow the thread its all there

All the meaningful contribution in the thread is critical of the deal, as it lacks transparency or detail....

Your contribution so far is incoherent gibberish in this thread... so engage the grey matter if you possess any and tell us how it's the best deal.

 

[emranabbas]

All the meaningful contribution in the thread is critical of the deal, as it lacks transparency or detail....

Your contribution so far is incoherent gibberish in this thread... so engage the grey matter if you possess any and tell us how it's the best deal.

its because your thick and don't actually understand business or the deal.

 

[IronShield]

its because your thick and don't actually understand business or the deal.

So nothing then aside from puerile gibberish.

To progress the conversation, do you have anything to back up why its the best deal?

 

[emranabbas]

So nothing then aside from puerile gibberish.

To progress the conversation, do you have anything to back up why its the best deal?

Trying to explain this to you would be a complete waste of time. It would just sound like gibberish to you. This is like expecting a 1st-class student to suddenly understand 10th-class concepts without any background. There’s a clear gap in understanding here, and no amount of explaining from my side is going to fix that.


So it’s better to leave it at that. I’m not going to go out of my way to break it down step by step when it’s obvious you’re not going to grasp it anyway. Some things require a basic level of understanding first, and that’s clearly missing here.

and even if you do manage to understand it somehow your still going to downplay it out of love for imran khan

 

[mazkhan]

So you have any coherent contribution to anything that is being discussed? Or should I assume that is also beyond your intellect like @Devadwal's Pakistani cousin.

What coherent contribution pia is a loss making state enterprise and bleeding cash and imf have told the pakistan goverment to sort these loss making state enterprises out .

What's so hard for you to fathom

Privatisation happens everywhere it happens in uk , most uk former companies are in hands of foreign companies .

 

[IronShield]

Trying to explain this to you would be a complete waste of time. It would just sound like gibberish to you. This is like expecting a 1st-class student to suddenly understand 10th-class concepts without any background. There’s a clear gap in understanding here, and no amount of explaining from my side is going to fix that.


So it’s better to leave it at that. I’m not going to go out of my way to break it down step by step when it’s obvious you’re not going to grasp it anyway. Some things require a basic level of understanding first, and that’s clearly missing here.

and even if you do manage to understand it somehow your still going to downplay it out of love for imran khan

In other words.... you have no clue of the subject matter. Just a paid troll from the Pakistan army factory, Pakistani version of @Devadwal.

 

[Devadwal]

In other words.... you have no clue of the subject matter. Just a paid troll from the Pakistan army factory, Pakistani version of @Devadwal.

Pakistani Propaganda factory tagging me. Kitna exposed hoga sabse ?

 

[IronShield]

What coherent contribution pia is a loss making state enterprise and bleeding cash and imf have told the pakistan goverment to sort these loss making state enterprises out .

What's so hard for you to fathom

Privatisation happens everywhere it happens in uk , most uk former companies are in hands of foreign companies .

It has been for a very long time, that is not new and nor has the need to get it out of public hands.

Privatisations happen, but with transparency on asset values and liabilities and the process itself. You will not find the UK MoD getting in on the act post bidding process, just as an example. There is no point giving example comparing it to functioning countries where rule of law matters, there is one law here and that is what Munir the crook wants. Like he wants Fauji foundation to get 25% of PIA for almost for free, so it shall be.

 

[IronShield]

Pakistani Propaganda factory tagging me. Kitna exposed hoga sabse ?

Come and shake hands with your long lost Pakistani cousin @emranabbas

 

[Bewal Express]

What coherent contribution pia is a loss making state enterprise and bleeding cash and imf have told the pakistan goverment to sort these loss making state enterprises out .

What's so hard for you to fathom

Privatisation happens everywhere it happens in uk , most uk former companies are in hands of foreign companies .

It may be loss making( although according to the latest accounts its operationallly profitable) but it isnt without billions in assets. So the question is why so many lies. The Treasury got 10bn PKRs. One plain is worth more than that.

 

[emranabbas]

In other words.... you have no clue of the subject matter. Just a paid troll from the Pakistan army factory, Pakistani version of @Devadwal.

this is an idiots guide for you so uneducated taxi drivers like you can understand it.

I own a shop, but the business isn’t actually making money. Whatever income comes in goes straight towards old debts. On top of that, I still have to use my own money to buy stock, fix things, and keep the place running. So even though the shop is open and trading, I’m effectively losing money.

To make the business work properly, I need a serious cash injection. I need money to clear some debts, fully stock the shop, maintain the building, and spend on promotion. Without that investment, the business will stay stuck.

Now imagine an investor comes along and wants to buy into the shop. I agree, but I don’t sell everything. I sell 75% of the business, valuing it at £200,000. However, instead of taking all that money for myself, only £20,000 comes to me directly. The remaining £180,000 is invested straight back into the business.

That investment fixes the core problems. The shop is properly maintained, stock levels are healthy, and marketing brings in more customers. The business finally starts running as it should.

As a result, the shop now makes £30,000 profit per month. I still own 25% of the business, so I earn £7,500 a month without having to worry about stock, maintenance, or day-to-day costs rather than putting hand in my back pocket every month and making a loss

The point is simple: owning 100% of a struggling business doesn’t help anyone. Owning a smaller share of a properly funded, profitable business is far better.

 

[emranabbas]

Pakistani Propaganda factory tagging me. Kitna exposed hoga sabse ?

He tagged you because you’re a PTI sympathiser he’s hoping you’ll step in and rescue him.

 

[IronShield]

this is an idiots guide for you so uneducated taxi drivers like you can understand it.

I own a shop, but the business isn’t actually making money. Whatever income comes in goes straight towards old debts. On top of that, I still have to use my own money to buy stock, fix things, and keep the place running. So even though the shop is open and trading, I’m effectively losing money.

To make the business work properly, I need a serious cash injection. I need money to clear some debts, fully stock the shop, maintain the building, and spend on promotion. Without that investment, the business will stay stuck.

Now imagine an investor comes along and wants to buy into the shop. I agree, but I don’t sell everything. I sell 75% of the business, valuing it at £200,000. However, instead of taking all that money for myself, only £20,000 comes to me directly. The remaining £180,000 is invested straight back into the business.

That investment fixes the core problems. The shop is properly maintained, stock levels are healthy, and marketing brings in more customers. The business finally starts running as it should.

As a result, the shop now makes £30,000 profit per month. I still own 25% of the business, so I earn £7,500 a month without having to worry about stock, maintenance, or day-to-day costs rather than putting hand in my back pocket every month and making a loss

The point is simple: owning 100% of a struggling business doesn’t help anyone. Owning a smaller share of a properly funded, profitable business is far better.

If you are going to give examples then make sure it is an apples to apples comparison. This is typical of what I say your cousin @Devadwal does... and you are at it too.

So basically, what you are saying is that , if it was just recapitalised, its going to produce a wall of cash.. lovely Jubly, everyone is a winner.

Here is where you have gone wrong, whether intentionally or lack of sufficient cognitive capacity, you have not addressed why the business is not making money, that is the fundamental issue that needs to be dealt with. The answer is liabilities.

Here is the actual example you should have given that is somewhat depicts whats happening here.

I own a business, it was making money but then I recruited 6 times the staff required for no good reason other than give people I know jobs. This has made the business insolvent as the incomings do not cover the outgoings and I took a punt and took on debt to keep the business going to the point that the debt is now over $2 billion dollars.

I now look to offload this business, but me having to keep all the liabilities of over $2 billion. My friends have come in and offered to take all the assets for 10% cash of the valuation/"sale" price, the remaining they promise they will spend on the business without any firm guarantees or time lines. But I will still tell everyone that it I sold it for the full valuation price, even though I did it for only 10% of that.

My friends are really happy that I have kept all the liabilities for myself as that was the part that was making it into a loss making business. They will now inherit a profitable business almost immediately and even more so if they get rid of the excess staff. As part of this deal, I will offload my remaining 25% share in the business on same terms within 90 days. Therefore, when the business starts to make money, I will not have any share of that... God knows how I will pay the debt off. But hey, as long s my friends are happy, I am happy....

One of the most absurd privatisation deals that makes only a modicum of sense if they retain 25% shares, which they do not intend to as that is probably ring fenced for the army.

 

[emranabbas]

If you are going to give examples then make sure it is an apples to apples comparison. This is typical of what I say your cousin @Devadwal does... and you are at it too.

So basically, what you are saying is that , if it was just recapitalised, its going to produce a wall of cash.. lovely Jubly, everyone is a winner.

Here is where you have gone wrong, whether intentionally or lack of sufficient cognitive capacity, you have not addressed why the business is not making money, that is the fundamental issue that needs to be dealt with. The answer is liabilities.

Here is the actual example you should have given that is somewhat depicts whats happening here.

I own a business, it was making money but then I recruited 6 times the staff required for no good reason other than give people I know jobs. This has made the business insolvent as the incomings do not cover the outgoings and I took a punt and took on debt to keep the business going to the point that the debt is now over $2 billion dollars.

I now look to offload this business, but me having to keep all the liabilities of over $2 billion. My friends have come in and offered to take all the assets for 10% cash of the valuation/"sale" price, the remaining they promise they will spend on the business without any firm guarantees or time lines. But I will still tell everyone that it I sold it for the full valuation price, even though I did it for only 10% of that.

My friends are really happy that I have kept all the liabilities for myself as that was the part that was making it into a loss making business. They will now inherit a profitable business almost immediately and even more so if they get rid of the excess staff. As part of this deal, I will offload my remaining 25% share in the business on same terms within 90 days. Therefore, when the business starts to make money, I will not have any share of that... God knows how I will pay the debt off. But hey, as long s my friends are happy, I am happy....

One of the most absurd privatisation deals that makes only a modicum of sense if they retain 25% shares, which they do not intend to as that is probably ring fenced for the army.

your usual PTI bakwas just allegations with no evidence, this world don't run on conspiracy theories

 

[IronShield]

your usual PTI bakwas just allegations with no evidence, this world don't run on conspiracy theories

Its literally whats just happened.

PIA has over $2billion in liabilities.
Liabilities remain with the government.
Habib group paid 10% of the "sale" price.
Remaining 25% to be offloaded within 90 days on same terms.

Where is the conspiracy theory?

Or do you mean, you had no clue right from the start and pretended to know whilst not knowing anything at all.

If you are wondering what is the best thing you can do for Pakistan.... is to not have any kids.

 

[emranabbas]

Its literally whats just happened.

PIA has over $2billion in liabilities.
Liabilities remain with the government.
Habib group paid 10% of the "sale" price.
Remaining 25% to be offloaded within 90 days on same terms.

Where is the conspiracy theory?

Or do you mean, you had no clue right from the start and pretended to know whilst not knowing anything at all.

If you are wondering what is the best thing you can do for Pakistan.... is to not have any kids.

PIA was carrying over $2–2.5 billion in liabilities, which is why the airline had to be restructured before privatisation. No serious buyer would touch PIA without that cleanup. so what you waned was to government to keep paying out of their pocket to keep it running, i don't know if your stupid, acting stupid or just being a *****

most legacy liabilities remain with the government, but that is standard practice in airline privatisations worldwide. The buyer did not receive a “free airline” they received a viable airline after toxic debt was carved out, otherwise PIA would have collapsed completely. then you would be same idiot pointing fingers at the government.

The claim that Habib Group only paid 10% is false and its your political bias

The bid was Rs 135 billion for 75% of PIA. Around Rs 10 billion was paid upfront, while the remaining amount is being injected back into PIA itself, not pocketed by anyone. That money is to revive operations. As for the remaining 25%, it is not automatically sold. The buyer only has an option to purchase it within 90 days on agreed terms. Until then, the government still owns that stake. so get your facts straight before chatting gibberish.

 

[Bewal Express]

your usual PTI bakwas just allegations with no evidence, this world don't run on conspiracy theories

Why was the business struggling? Who made it struggle?

 

[IronShield]

PIA was carrying over $2–2.5 billion in liabilities, which is why the airline had to be restructured before privatisation. No serious buyer would touch PIA without that cleanup. so what you waned was to government to keep paying out of their pocket to keep it running, i don't know if your stupid, acting stupid or just being a imrando.

most legacy liabilities remain with the government, but that is standard practice in airline privatisations worldwide. The buyer did not receive a “free airline” they received a viable airline after toxic debt was carved out, otherwise PIA would have collapsed completely. then you would be same idiot pointing fingers at the government.

The claim that Habib Group only paid 10% is false and its your political bias

The bid was Rs 135 billion for 75% of PIA. Around Rs 10 billion was paid upfront, while the remaining amount is being injected back into PIA itself, not pocketed by anyone. That money is to revive operations. As for the remaining 25%, it is not automatically sold. The buyer only has an option to purchase it within 90 days on agreed terms. Until then, the government still owns that stake. so get your facts straight before chatting gibberish.

So you admit there are nearly $2.5 billion of liabilities, which the government will service to the tune of 35billion Rs or $125m annually. That is correct, $125 million just to pay the interest on the debt.

The government's is not going to retain 25%, that is due to be given on same terms, otherwise you will not have that as part of the bid process upfront. That was just a ruse to give the impression that it's a "normal" deal. But it is anything but. Army getting in on the bid consortium after the bid process is a give away. Which army in the world is in the business of running commercial air lines?....

Take Air India for example, Tata in its takeover, took on debt and the government gave away 100% holding in return.

Within 3 months, Habib group and army will take 100% ownership with 0 debt commitments for around $60 million. And if you consider that PIA has $30 million cash in the bank, thats 100% of PIA for just $30 million. Just so you know, Tata paid $2.4 billion to Indian government and took on some debt as part of the deal. Air India had:

$8.2 billion in debt in total
Tata took over $2billion debt, leaving $6.2 billion for Indian government.
But Tata also paid $2.4 billion to Indian government to take 100% ownership.
Indian government liabilities post the sale 6.2-2.4= $3.8billion

So the Indian government reduced its debt from over $8billion to just under $4 billion with this move. Whatever you say about the Indian government, atleast they have interest of their tax payer in mind and worked to ensure to get maximum value for them.

In PIA case, you have the army working to ensure that the private entities of which they are beneficiaries, retain all the maximum value, whilst the tax payer takes all the burden with little value given in return. The consortium will restructure (reduce head count), ditch all the loss making parts and retain the profitable ones, and make money from the those from the get go. A sweet heart deal if there ever was one. Everyone is a winner, except for Pakistani tax payer.

If you so insist on being a shameless cretin, then by all means do so, but don't assume everyone else is the same.

 

[Bewal Express]

So you admit there are nearly $2.5 billion of liabilities, which the government will service to the tune of 35billion Rs or $125m annually. That is correct, $125 million just to pay the interest on the debt.

The government's is not going to retain 25%, that is due to be given on same terms, otherwise you will not have that as part of the bid process upfront. That was just a ruse to give the impression that it's a "normal" deal. But it is anything but. Army getting in on the bid consortium after the bid process is a give away. Which army in the world is in the business of running commercial air lines?....

Take Air India for example, Tata in its takeover, took on debt and the government gave away 100% holding in return.

Within 3 months, Habib group and army will take 100% ownership with 0 debt commitments for around $60 million. And if you consider that PIA has $30 million cash in the bank, thats 100% of PIA for just $30 million. Just so you know, Tata paid $2.4 billion to Indian government and took on some debt as part of the deal. Air India had:

$8.2 billion in debt in total
Tata took over $2billion debt, leaving $6.2 billion for Indian government.
But Tata also paid $2.4 billion to Indian government to take 100% ownership.
Indian government liabilities post the sale 6.2-2.4= $3.8billion

So the Indian government reduced its debt from over $8billion to just under $4 billion with this move. Whatever you say about the Indian government, atleast they have interest of their tax payer in mind and worked to ensure to get maximum value for them.

In PIA case, you have the army working to ensure that the private entities of which they are beneficiaries, retain all the maximum value, whilst the tax payer takes all the burden with little value given in return. The consortium will restructure (reduce head count), ditch all the loss making parts and retain the profitable ones, and make money from the those from the get go. A sweet heart deal if there ever was one. Everyone is a winner, except for Pakistani tax payer.

If you so insist on being a shameless cretin, then by all means do so, but don't assume everyone else is the same.

You are trying to educate a complete bozos with logic. This is a loot by the Generals and there is no one that can ask any questions or do anything. Neither @Major or this ***** has any idea what the assets are worth.