[VIDEO] Javed Miandad wants to collect funds in his bank account to pay off loans taken by Pakistan

[The Viper]

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Javed Miandad has decided to open a bank account in his name and invited people to donate generously to his campaign. The funds collected will be used to pay off the national debt of Pakistan and pay off the loans Pakistan has taken from the International Monetary Fund</p>— Saj Sadiq (@Saj_PakPassion) <a href="https://twitter.com/Saj_PakPassion/status/1259897614503497728?ref_src=twsrc%5Etfw">May 11, 2020</a></blockquote>
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<blockquote class="twitter-tweet"><p lang="ur" dir="rtl">پوری دنیا میں پاکستانی بھائیوں سے اپیل: پاکستان کا قرضہ ہم عوام کو مل کر ہی اتارنا ہوگا، پاکستان کا قرض اتارنے میں میری مدد کریں، ویڈیو مکمل ملاحظہ فرمائیں.<a href="https://twitter.com/hashtag/Debt?src=hash&ref_src=twsrc%5Etfw">#Debt</a> <a href="https://twitter.com/hashtag/JavedMiandad?src=hash&ref_src=twsrc%5Etfw">#JavedMiandad</a> <a href="https://twitter.com/hashtag/LoanFreePakistan?src=hash&ref_src=twsrc%5Etfw">#LoanFreePakistan</a> <a href="https://t.co/tlZGTt9eed">pic.twitter.com/tlZGTt9eed</a></p>— Javed Miandad ���� (@I_JavedMiandad) <a href="https://twitter.com/I_JavedMiandad/status/1258856543799386122?ref_src=twsrc%5Etfw">May 8, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[Slog]

I think he’s become very old and is losing it a bit and I say that with the greatest respect

 

[Bhaijaan]

What a great initiative.

Imagine how much debt he can clear if every Pakistani donated just Rs 100

 

[Local.Dada]

Good initiative but the central government already does that and they are in a better position to ensure these funds reach the poor people, this additional private fund collecting will eat into those donations.

In the 92 WC Javed and Imran were on the same page and the result a successful campaign, I think they should raise funds as a team.

 

[Savak]

Lol, this was his secret plan to pay of the countries debts?

 

[Nostalgic]

This sounds similar to the scheme launched by the Nawaz Sharif Mark II government in 1997, called Qarz Utaaro Mulk Sunwaaro. People were asked to donate money into accounts set up ostensibly to pay off the national debt. There were stories of gullible villagers traveling days with their life savings, cash, jewelry for their daughters’ dowries and whatnot, to deposit them into the accounts. Twenty years later, does anyone have any clue as to what became of those funds? I’m an economic illiterate, but the consensus among economists back then was that it was a hairbrained scheme and the national debt couldn’t be paid off in this manner.

 

[Savak]

This sounds similar to the scheme launched by the Nawaz Sharif Mark II government in 1997, called Qarz Utaaro Mulk Sunwaaro. People were asked to donate money into accounts set up ostensibly to pay off the national debt. There were stories of gullible villagers traveling days with their life savings, cash, jewelry for their daughters’ dowries and whatnot, to deposit them into the accounts. Twenty years later, does anyone have any clue as to what became of those funds? I’m an economic illiterate, but the consensus among economists back then was that it was a hairbrained scheme and the national debt couldn’t be paid off in this manner.

The govt including Imran Khan with the most credible donation collection and utilization record is struggling to collect funds for the Dams which are worth around $10-12 billion, our foreign debts are $100 billion, no way in hell will people have the confidence to donate for it. Donor's need confidence that the target can be practically achieved.

 

[Napa]

What a great initiative.

Imagine how much debt he can clear if every Pakistani donated just Rs 100

200 million Pakistanis x Rs. 100 per Pakistani approximately equals $150 million, which is about 1% of what Pakistan recently borrowed.

 

[Giannis]

200 million Pakistanis x Rs. 100 per Pakistani approximately equals $150 million, which is about 1% of what Pakistan recently borrowed.

He's better spending that money on hospitals and housing for the poor.

 

[marlonbrowndo]

This is hilarious

 

[pillionrider]

Imran Khan should give him some role, maybe as a village panchayat head, and put him out of his misery.

 

[IndianHero]

I think pakistanis should donate generously but they should keep one condition. This guy has to display the report of all the transactions being made into his account on weekly basis and this account should be given read only access i.e.. any one can know the account balance of this at any point of time.

 

[Bigboii]

This sounds similar to the scheme launched by the Nawaz Sharif Mark II government in 1997, called Qarz Utaaro Mulk Sunwaaro. People were asked to donate money into accounts set up ostensibly to pay off the national debt. There were stories of gullible villagers traveling days with their life savings, cash, jewelry for their daughters’ dowries and whatnot, to deposit them into the accounts. Twenty years later, does anyone have any clue as to what became of those funds? I’m an economic illiterate, but the consensus among economists back then was that it was a hairbrained scheme and the national debt couldn’t be paid off in this manner.

Dekho suno jaano explained the incident real well for anyone who is interested look up their history of Pak series

 

[Bigboii]

200 million Pakistanis x Rs. 100 per Pakistani approximately equals $150 million, which is about 1% of what Pakistan recently borrowed.

We can never pay of the debt it's WAY to much

I blame the army for constant instability in the country

 

[Savak]

We can never pay of the debt it's WAY to much

I blame the army for constant instability in the country

Yes, the army is responsible for adding $64 billion to our foreign debts from 2008 to now unless you blame the army for not even contemplating overthrowing the government's during that time period

 

[Bigboii]

Yes, the army is responsible for adding $64 billion to our foreign debts from 2008 to now unless you blame the army for not even contemplating overthrowing the government's during that time period

constant instability in the country focus on this

 

[Bhaijaan]

200 million Pakistanis x Rs. 100 per Pakistani approximately equals $150 million, which is about 1% of what Pakistan recently borrowed.

That's assuming everyone donated only Rs 200. In today's age a rikshaw puller can be expected to donate that and more.

A lot.of overseas Pakistanis can donate a lot more

This is an unconventional economic model but it can work.

You can see it as unofficial and voluntary tax

 

[Knight_Rider]

Rather than recouping the looted wealth from Big fishes like Nawaz and Zardai, Imran Khan is out with the begging bowl infront of already poor Awam.

Uppar se ab baqi sab ko bhi dhanday pe lagga diya hai. Not sure why these ex-cricketers think that the ordinary Pakistanis have enough dosh lying around to repay the debts.

 

[Napa]

Rather than recouping the looted wealth from Big fishes like Nawaz and Zardai, Imran Khan is out with the begging bowl infront of already poor Awam.

Uppar se ab baqi sab ko bhi dhanday pe lagga diya hai. Not sure why these ex-cricketers think that the ordinary Pakistanis have enough dosh lying around to repay the debts.

As long as Pakistanis keep falling for this red herring that Pakistan's lack of economic can be solved by "recouping looted wealth" Pakistan is doomed to failure.

Even if they stole money, it is impossible that Nawaz and Zardari have more than $1 billion between them. On the other hand Pakistan loses $250 billion or more every year from the lack of development of modern industries.

If you are a Pakistani who wants his country to advance, figure out why modern industries have not developed instead of defaulting to Nawaz and Zardari.

 

[Saeed]

Not a fan of running country’s operations through donations. A country should be able to raise funds through taxation and other misc fees. If somebody came around asking to raise money for such funds, I would just ignore them. If he wants to help maybe he should ask Pakistanis to pay taxes.

 

[Savak]

As long as Pakistanis keep falling for this red herring that Pakistan's lack of economic can be solved by "recouping looted wealth" Pakistan is doomed to failure.

Even if they stole money, it is impossible that Nawaz and Zardari have more than $1 billion between them. On the other hand Pakistan loses $250 billion or more every year from the lack of development of modern industries.

If you are a Pakistani who wants his country to advance, figure out why modern industries have not developed instead of defaulting to Nawaz and Zardari.

Where did the $64 billion in loans they took from 2008 to now go to?

 

[Badsha]

Pakistanis are usually very econ savy so Im surprised we would resort to this. Heres a better alternative:

Make donations to spin up small businesses and tech startups. Generate GDP and grow the nation..

 

[Knight_Rider]

As long as Pakistanis keep falling for this red herring that Pakistan's lack of economic can be solved by "recouping looted wealth" Pakistan is doomed to failure.

Even if they stole money, it is impossible that Nawaz and Zardari have more than $1 billion between them. On the other hand Pakistan loses $250 billion or more every year from the lack of development of modern industries.

If you are a Pakistani who wants his country to advance, figure out why modern industries have not developed instead of defaulting to Nawaz and Zardari.

Its the real Master behind the scenes, who has the actual wealth and has hindered any proper development of real democracy in Pakistan. Check the lavish life style of armed forces and the assets of retired generals and Judges etc. Politicians are just the frontmen who get the crumbs. Nevertheless the corrupts at each level should be brought to justice.

Begging already poor Awam is not the solution to pay back debts.

 

[gazza619]

Begging already poor Awam is not the solution to pay back debts.

the biggest conspiracy for me is the idea that pakistani awaam is poor. Every chap in Pakistan can find Rs.100 in their wallet. Obviously everyone should donate as per their affordability.

 

[Knight_Rider]

Not sure which world you live in but Pakistan is a poor nation with a low gdp and majority living under the poverty lines. These are commonly known ‘facts’ and not a conspiracy.

 

[Napa]

Where did the $64 billion in loans they took from 2008 to now go to?

It went to mainly two places:

1) Pay for infrastructure projects including power projects which needed to end Pakistan's perennial power shortages and loadshedding.

https://www.thenews.com.pk/print/546010-work-on-13-energy-projects-under-cpec-in-full-swing

2) Pay for imports like oil. As Pakistan's exports are low-tech it doesn't earn enough from exports and has to rely loans and remittances from expat Pakistanis to pay for its imports.

http://www.worldstopexports.com/pakistans-top-10-exports/

The only solution for Pakistan is to create conditions for the development of modern industries. Once you accept that, the next step will be to figure out how to make that happen. Refer to my numerous posts on this forum for that.

 

[Napa]

Its the real Master behind the scenes, who has the actual wealth and has hindered any proper development of real democracy in Pakistan. Check the lavish life style of armed forces and the assets of retired generals and Judges etc. Politicians are just the frontmen who get the crumbs. Nevertheless the corrupts at each level should be brought to justice.

Begging already poor Awam is not the solution to pay back debts.

You are absolutely correct. Once the Army and the rest of the political establishment is out of the economy, the entrepreneurs will get develop new industries and Pakistan will escape poverty.

IK going on a world tour and telling everybody that a nuclear war with India may happen if the world doesn't get India out of Kashmir is exactly the sort of thing that Pakistan doesn't need. It scares off investors. It also justifies the Army's continued domestic dominance.

 

[Markhor]

Javed can you kindly donate the entirety of your earnings as PCB Director General under Ijaz Butt's chairmanship where you literally got paid huge sums for doing absolutely nothing.

 

[Zaz]

Surely rather than opening a bank account in his name he should be directing people towards the official govt bank accounts set up for this sort of thing

 

[Varun]

If Pakistan was a company, it's balance sheet is always largely red. Which means there is an underlying problem in its functioning in the first place - it generates no profit on the revenue it creates.

Long term, it has to up its game to fix this. Short term just ask those pangolin munching pals to forgive some debt for now - they're the reason we're all in this soup in the first place.

Nothing wrong with some debt in any case - look at the US.

 

[Savak]

If Pakistan was a company, it's balance sheet is always largely red. Which means there is an underlying problem in its functioning in the first place - it generates no profit on the revenue it creates.

Long term, it has to up its game to fix this. Short term just ask those pangolin munching pals to forgive some debt for now - they're the reason we're all in this soup in the first place.

Nothing wrong with some debt in any case - look at the US.

I repeat my question again, where was the $64 billion borrowed by Pakistan from 2008 to now used? It is common sense that if you are taking such a gigantic amount of loans, it has to be used to generate revenue 5-10 times the amount, but that doesn't seem to be the case and during this time period no major infrastructure project took place in the country. Whose bank accounts did these funds end up in?

 

[Varun]

I repeat my question again, where was the $64 billion borrowed by Pakistan from 2008 to now used? It is common sense that if you are taking such a gigantic amount of loans, it has to be used to generate revenue 5-10 times the amount, but that doesn't seem to be the case and during this time period no major infrastructure project took place in the country. Whose bank accounts did these funds end up in?

Who knows. That's a macro-level question to be tackled by those more economically minded than me.

 

[MenInG]

Miandad has a simple idea and one that will never succeed. No one will give him money so why waste time on this video?

 

[Saeed]

Pakistanis are usually very econ savy so Im surprised we would resort to this. Heres a better alternative:

Make donations to spin up small businesses and tech startups. Generate GDP and grow the nation..

Thats a good idea. Offer forgivable loans or grants to businesses in exchange for having them to comply with local regulations and paying taxes.