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Originally Posted by Jay
If its going to be vertically absorbed, then all this hoopla doesnt make sense.
Again with regards to monetary reductions, does PAkistan has a transparent budget where all the allocations to defence companies/forces are accounted and scrtunized by a controller general??
With out any concrete evidence, its just not the Indians, the whole world will not take it serious. So lets wait till next years IMF/WB reports and see the general share of Pakistani defence spending % wrt GDP.
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[qoute] does PAkistan has a transparent budget where all the allocations to defence companies/forces are accounted and scrtunized by a controller general[/quote]
Well yes, its called the planning and development division and works under the national audit office.
You can view the 2003-04 budget at the link bellow:
http://www.pakistan.gov.pk/planninga...get2003-04.jsp
Click on defence.
And its very prudent of you to be so speculative of the pakistan downscaling. But you cant say that no legal framework exists to account for government spending in Pakistan.
Secondly Pakistan dose not disrectly sponser Defence Companies such as HIT they are either part of the Defence Instutite or are private orginizations run by private individuals or corporations.
Pakistan has made improvements in macroeconomic fundamentals, as well as recovery in the economy, were further consolidated in FY2003. Given continued buoyancy in both domestic and external sectors in the first half of FY2004, GDP growth is likely to exceed the government target of 5.3% for the year. It seems that the foundations have been laid for significantly higher growth and it should be possible to exceed the target of 5.8% in FY2005 and move to a path of over 6% in subsequent years.
Latest financial summary for march 2004:
http://www.finance.gov.pk/summary/march_2004.pdf
Take notice of the stock exchange numbers. Over 100% increase in index and capitalization.
Another misinformation in the original article is that Pakistan is still a debtor to the IMF well please read this:
Pakistan bids farewell to IMF
Pakistan formally told the International Monetary Fund (IMF) Friday that it will not need the Fund’s assistance any more as its economy is on the track to recovery as also to achieve faster growth. The visiting Pakistan Finance Minister, Shaukat Aziz, met the acting IMF Managing Director, Ms Ann Krueger, in Washington and informed her of Islamabad’s decision not to seek further help while thanking the Fund for its “valuable assistance” in the past. After the meeting, Aziz told reporters in Washington that having achieved economic sovereignty, Pakistan was bidding farewell to the Fund. The IMF is an international organisation of 184 member countries. It was established to promote international monetary cooperation, exchange stability and orderly exchange arrangements; to foster economic growth and high levels of employment and to provide temporary financial assistance to countries to help ease balance of payments adjustment. “The Pakistan delegation met the IMF Friday and told them that this is going to be the last year that we seek Fund’s valuable assistance,” the finance minister said. “Pakistan has been able to register successes, as the bulk of its economic programme was homegrown and due to the continuity and consistency in its reforms policies,” he added. Pakistan has been successful in overcoming its ‘initial backlog handicaps’ and straighten out its affairs and was moving forward. The minister said all economic indicators were favourable; there is rapid economic growth; the currency is stable; the national reserves are all time high; exports are growing; interest rates are low; manufacturing, housing and real estate business is thriving while stock exchanges are doing a brisk business. Shaukat said floating of Euro-Bonds of 500 million dollars in the capital market were over-subscribed by four times. “We are excited because we find that our economic achievements have been outstanding, under the capable leadership of President Pervez Musharraf and Prime Minister Mir Zafarullah Khan Jamali.”
http://www.nation.com.pk/daily/Apr-...5/main/top5.asp
Things arent as bad as the global blood hungry press make it out to be. And its all because of that so called dictator and his US alliance.
GOD BELSS PAKISTAN