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PM Imran to form ‘high-powered commission’ to probe massive increase in Pakistan’s debt

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Prime Minister Imran Khan in his address to the nation late on Tuesday night hit out at opposition parties in line with the government’s ongoing accountability drive, saying that he would form a high-powered commission to probe the massive Rs24,000 billion debt piled up in the last 10 years.

The premier’s address comes hours after his Pakistan Tehreek-e-Insaf (PTI) government presented its first Federal Budget 2019-20 in the National Assembly.

Earlier in the day, two major political leaders also got arrested – Hamza Shehbaz, leader of the opposition in the Punjab Assembly; and Altaf Hussain, founder of the Muttahida Qaumi Movement (MQM).
On Monday, Pakistan Peoples Party (PPP) co-chairman Asif Ali Zardari was also arrested by the National Accountability Bureau (NAB) in the fake bank accounts case.

The premier said that the commission would comprise officials of the Federal Investigation Agency (FIA), Intelligence Bureau (IB), Inter-Services Intelligence (ISI), Federal Board of Revenue (FBR) and Securities and Exchange Commission of Pakistan (SECP).

He said that the country’s economy has stabilised, adding, “I’m coming after everyone who plundered public wealth.”

The prime minister further said that the the inquiry commission would have a one-point agenda, which would be to ascertain how Pakistan’s debt had risen from Rs6,000 billion to Rs24,000 billion in a 10-year period.

He said that under no circumstance would he be “strong-armed” into ending accountability proceedings with protests by the opposition.

“They [the opposition] have been lambasting us [the government] that the rupee has fallen, instead they should see we are trying to stabilise the economy,” he added.

He said the opposition has tried its best to destabilise the economy, adding, “You see, three ambassadors wanted to invest in Pakistan, but backed out because our economy was not stable at the time.”

Premier Imran said that opposition was least bothered with the betterment of the public as all their money has been stashed overseas.

“When our rupee falls, their assets go up in value,” he said.

Speaking about the austere budget rolled out by the government, he said: “It is testament to the ‘Naya Pakistan’ the Tehreek-e-Insaf (PTI) government wants to create.”

Premier Imran said that there is no quick fix to the country’s problems. “You can already see how Pakistan is changing under our government.”

He added: “I want to create a Pakistan which is in line with the the first Muslim society created by Prophet Muhammad (PBUH) in Medina.”

The supremacy of law and meritocracy, he said, were the key cogs in the first Muslim society.

The prime minister said the previous Pakistan Peoples Party (PPP) and Pakistan Muslim League-Nawaz (PML-N) governments had plundered the country.

He also said that the National Reconciliation Ordinance (NRO) was done under former president Pervez Musharraf’s leadership to cover the tracks of the opposition’s corruption and money laundering.

The prime minister lauded the Pakistan Army for refusing an increase in the salaries of senior officers even as the country faces the threat of terrorism and only opting for a pay raise for junior ranks.

The premier said that he had been hearing the same question ever since he assumed office that “where is Naya Pakistan?”

“Medina didn’t become a welfare state in one day … It’s not a switch that Imran Khan would turn on and it will become a Naya Pakistan … it is a process.”

PM Imran said that the judiciary is free and impartial today. “Now, Imran Khan cannot influence judiciary or NAB … NAB is not under me. They [previous governments] formed NAB, we didn’t. Neither did we appoint its chairman.”

He said all cases against Nawaz Sharif, Shehbaz Sharif and Asif Ali Zardari were filed long before his government came into power. “Still they don’t let me speak in the parliament … what is my fault? My only fault is that I am not giving in to their pressure tactics to give them what they want, which is NRO.”

The address was first slated to air at 9:15pm but was then delayed to 10:30, after which it was once again delayed till 11:45pm. It was also disrupted by ‘technical glitches’ on at least two occasions during the live telecast.


Source: https://tribune.com.pk/story/1990261/1-pm-imran-address-nation-shortly-2/
 
IK not coming slow...
<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Time for nation to stop glorifying money launderers who have damaged our nation & impoverished our ppl & now seeking refuge behind "democracy". No protocol shd be extended to them. Where are plunderers of public wealth given such special treatment? Time to treat them as criminals</p>— Imran Khan (@ImranKhanPTI) <a href="https://twitter.com/ImranKhanPTI/status/1138699295677452289?ref_src=twsrc%5Etfw">June 12, 2019</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 
These commissions don't produce any results. Waste of time.
 
Is the commission probing how the debts went up or where did the money go?

The first part is easy to answer, the second part is what the entire nation is interested in. Why did IK and PTI not do this from day one?
 
Is the commission probing how the debts went up or where did the money go?

The first part is easy to answer, the second part is what the entire nation is interested in. Why did IK and PTI not do this from day one?

the reason they didnt do it from day one was because the country was literally days or weeks away from going bankrupt. Think Zimbabwe or argentina..maybe worse.

The priority was to save the economy from falling off a cliff. Everything else took less priority.

I can only assume that many on this forum have never worked in a project management environment or in a large organisation where strategy and plans are formulated.

When you make plans and need to fulfil your objectives that are linked to a strategy you need to prioritise. You have various levels of prioritisation and that is what you do. that's what you pay these people for. To make those hard decisions.
 
the reason they didnt do it from day one was because the country was literally days or weeks away from going bankrupt. Think Zimbabwe or argentina..maybe worse.

The priority was to save the economy from falling off a cliff. Everything else took less priority.

I can only assume that many on this forum have never worked in a project management environment or in a large organisation where strategy and plans are formulated.

When you make plans and need to fulfil your objectives that are linked to a strategy you need to prioritise. You have various levels of prioritisation and that is what you do. that's what you pay these people for. To make those hard decisions.

To do this now is leading critics to spin the narrative that the PTI has done this gimmick to deflect criticism and attention from the budget. Anyways i believe this commission needs to include NAB as well and even some Supreme Court Judges to provide legal advice.
 
According to Dr Shahid Masood, this commission is going to bill all those responsible for these debts from the PM, their family, relatives, cabinet members and will seize all of their private assets and even sell them off to retrieve the looted wealth
 
According to some experts, the PM announcing this commission is basically an indirect admission that he has lost confidence in the NAB, he suspects the NAB has too many people sympathetic to the PML-N, PPP and therefore he now wants to take charge of everything
 
the reason they didnt do it from day one was because the country was literally days or weeks away from going bankrupt. Think Zimbabwe or argentina..maybe worse.

The priority was to save the economy from falling off a cliff. Everything else took less priority.

I can only assume that many on this forum have never worked in a project management environment or in a large organisation where strategy and plans are formulated.

When you make plans and need to fulfil your objectives that are linked to a strategy you need to prioritise. You have various levels of prioritisation and that is what you do. that's what you pay these people for. To make those hard decisions.

Spot on, Imran made it clear what his priorities were and how terrible the situation was.

I am extremely pessimistic about this commission though, i mean we live in a country where such straightforward money laundering cases are looked at suspiciously because somehow evil forces just made this all up to trap innocent angels. This when there are banking transactions and data available to prove everything.

How would you tell people that their money wasn't spent properly or to provide subsidies? Nothing will come out of this for sure.

Regardless, it will be a good exercise for learning purposes but focus should be on "Exports", "Investments", "Taxation of businesses and non working class".
 
According to Dr Shahid Masood, this commission is going to bill all those responsible for these debts from the PM, their family, relatives, cabinet members and will seize all of their private assets and even sell them off to retrieve the looted wealth

Will never happen, his own party will revolt...
 
These commissions don't produce any results. Waste of time.

Because NAB is deliberately favouring crooks, Govt had to introduce a new system of accountability. This commission is literally a NAB, albeit with more seriousness.
 
To do this now is leading critics to spin the narrative that the PTI has done this gimmick to deflect criticism and attention from the budget. Anyways i believe this commission needs to include NAB as well and even some Supreme Court Judges to provide legal advice.

You dont run a strategy on what your critics are going to say. they do not run the agenda the govt does. i would ignroe them and plough ahead which is what IK is doing.
 
The real party will begin now with the inclusion of isi,operation clean up will now begin in full speed and flow.
 
Could you not have a written a letter to NS and SS as you trust them so much? If you are genuine, I am sure [MENTION=142451]Mian[/MENTION] might know someone.

How many times I have to mention I don't follow them blindly. They are not angels, no one is, nor anyone will ever born angel. The only reason I support them is because I concluded they are better than the other available options & also their family had sacrificed a lot. I criticized PMLN whenever they made wrong decisions or found guilty of crimes or promoted a tainted person & I will appreciate anything good done by PTI. The only reasons I left PTI support were PTI became 90% full of lotaas & not what was promised in 2011 & the fact that IK's lies outweighed his truths resulting his burial under his own false promises. That's how a patriotic citizen should behave. Country above all.
I tried my options on this case to the extent I went on to discuss even with all PTI politicians & lawyers whom I knew but didn't get help. Even I am trying PakPassion now.
 
What are his plans on 29 references filed by the accountability commission under General (retired) Hamid Khan? They also happened in those 10 years.
 
According to some experts, the PM announcing this commission is basically an indirect admission that he has lost confidence in the NAB, he suspects the NAB has too many people sympathetic to the PML-N, PPP and therefore he now wants to take charge of everything

I fear one day he will lose confidence in himself.
 
I fear one day he will lose confidence in himself.

He think very highly of himself, so I don’t see that happening. However, there is a good chance that his masters will throw him out eventually. It took them less than a year to sack him as Interior Minister.
 
Imran Khan needs to break the norm. Abolish Pakistan's central bank, issue government backed currency which doesn't require interest payments, and stock up on Gold/Silver.

Debt is a disease, and there is no point in the government of Pakistan borrowing from the central bank of Pakistan with interest. This is capitalism at its worse and this system has brought down governments in the past.

Time for the reverse swing yorker IK!
 
Contrary to the popular belief, I don't think Pakistan's money was taken by anybody and there is no treasure for Pakistan in foreign bank accounts to pay off its debts. Pakistan just didn't manage any of its affairs properly and continued to be lazy whereas other countries around us moved forward and built their industries.
 
Contrary to the popular belief, I don't think Pakistan's money was taken by anybody and there is no treasure for Pakistan in foreign bank accounts to pay off its debts. Pakistan just didn't manage any of its affairs properly and continued to be lazy whereas other countries around us moved forward and built their industries.

Oh how naive...

Of course Zardari, Sharifs and other corrupt looters didn't create a sovereign corruption fund and pooled and transferred all the loans into it...
 
He think very highly of himself, so I don’t see that happening. However, there is a good chance that his masters will throw him out eventually. It took them less than a year to sack him as Interior Minister.


Till the time he acts as ghulam n taabehdaar bacha he won’t be thrown out.
 
It may seem that way on paper but the money generated through rule of military was because of foreign aid which was essentially a bribe for our Army to do the dirty work.

Whilst I agree with you that it is important that Noon League and PPP are punished for their corruption, we should realise that any anti corruption drive should account for the Army as well who has ruled Pakistan for much of it history and was in a position to do a high level of corruption.

Just because your thinking is in minority, it neither make you correct nor above all.

Your selective comment while ignoring the global picture of Pakistan, essentially nit picking to suit your agenda.

But you get an "A" effort.
 
Loadsheding started again. Is it coz commission needed highly powered?
 
Loadsheding started again. Is it coz commission needed highly powered?

Maybe you can ask NS and family? Explain this
"The PML-N government imposed several surcharges totalling Rs2.3 per unit to clear the debt of power distribution companies. However, despite that, the power sector remains a major challenge for the new Pakistan Tehreek-e-Insaf (PTI) administration.

Country banking on CPEC to revive economy

According to officials, total circular debt as on July 31,2018 amounted to Rs1.18 trillion, which included Rs596 billion of debt and Rs582 billion parked in Power Holding Private Limited (PHPL). In 2008, the debt parked in PHPL stood at Rs105 billion"
 
Loadsheding started again. Is it coz commission needed highly powered?

in 2013 Nawaz sharif promised that loadshedding would be done within 30 days ...it wasnt

It would take some time to add that much power into the grid. It may take years, if the govt start now. Whom are we kidding.

Ideal situation would be to see these projects lined up this year or next so slowly the power could be added. Whether it is hydro electric or gas turbine, it should start now!

Now in regards to Sharif brothers, they promised power in 30 days and we all know it is impossible.
But the worse thing is, Shehbaaz sharif, at the end of his term, on his last day as CM of Punjab said that if there is loadshedding please don't blame PMLN govt. So he basically meant, we did nothing in 5 years and there will still be loadshedding. COME ON!!!
 
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