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Different articles in the book reveal that Pakistan’s policies are made abroad, governments are made abroad and strategic routes and natural resources are given free or at nominal rates. Nothing seems to have changed since 1947 when Pakistan gained ‘independence’. And after giving our resources and routes for free, we go to the IMF for budgetary support. Excessive borrowing from the IMF started in the late 1980s causing decline in the growth of output, investment and employment, creating imbalances in income distribution, increasing poverty, with very adverse impact on the social and political fabric of the country. The book brings to the fore how state power is being used to demolish the state to take us to the colonial world order that existed prior to 1945. “Alternative to the IMF” offers out of the box solutions to agriculture, industry, balance of payments, public finance, natural resources, political economy, education, governance, privatization and liberalization problems afflicting the state of Pakistan. The strategies formulated for Pakistan are applicable to other countries in Asia, Africa, Latin
America, etc. that are facing similar problems due to borrowings from the IMF. I have also looked at the problems of Jammu and Kashmir and Afghanistan that have affected our economy, politics and society very severely and offered solutions.

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Genetically modified organism

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Publié par	Partridge Publishing Singapore
Date de parution	13 décembre 2022
Nombre de lectures	0
EAN13	9781543772128
Langue	English
Poids de l'ouvrage	1 Mo

Informations légales : prix de location à la page 0,0200€. Cette information est donnée uniquement à titre indicatif conformément à la législation en vigueur.

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ALTERNATIVE TO THE IMF
AND OTHER OUT OF THE BOX SOLUTIONS
SHAHIDA WIZARAT

Copyright © 2022 by Shahida Wizarat.

ISBN:
Softcover
978-1-5437-7211-1

eBook
978-1-5437-7212-8

All rights reserved. No part of this book may be used or reproduced by any means, graphic, electronic, or mechanical, including photocopying, recording, taping or by any information storage retrieval system without the written permission of the author except in the case of brief quotations embodied in critical articles and reviews.

Because of the dynamic nature of the Internet, any web addresses or links contained in this book may have changed since publication and may no longer be valid. The views expressed in this work are solely those of the author and do not necessarily reflect the views of the publisher, and the publisher hereby disclaims any responsibility for them.

www.partridgepublishing.com/singapore
CONTENTS
Acknowledgements
Preface

Chapter 1 Failure of Another IMF Program: Making A Better Alternative Available
Chapter 2 Making the SBP ‘Autonomous’
Chapter 3 The Real Beneficiaries of Pakistan’s Policies
Chapter 4 Use the State to Demolish the State
Chapter 5 Pakistan’s Politico-Social Chaos
Chapter 6 Governance and Institutional Decay
Chapter 7 Aliens Rule Pakistan
Chapter 8 Slaves of the Empire
Chapter 9 Loot and Plunder of Pakistan’s Natural Resources
Chapter 10 The New World Order and Pakistan
Chapter 11 An Open Letter to the IMF
Chapter 12 Vultures Let Loose on Pakistan
Chapter 13 Checking the Credentials of Pakistani Leadership
Chapter 14 An Agenda to Save Pakistan
Chapter 15 Economic ties between Pakistan & Russia.
Chapter 16 An Open Letter to Chief Justice of Pakistan
Chapter 17 Should Pakistan Head East or West?
Chapter 18 Waiting for a New Dawn
Chapter 19 Network of National & International Muggers
Chapter 20 Meeting Food Security: GM or Organic Way?
Chapter 21 Making Pakistan Food Secure
Chapter 22 Food Security Through GMOs?
Chapter 23 Foreign Debt, GMOs, Economy & Security
Chapter 24 PTI Government Performance 2018-20
Chapter 25 Give Me Back My Pakistan!
Chapter 26 Disconnect between Government & Strategic Interests
Chapter 27 Privatization of Pakistan’s Strategic Assets
Chapter 28 Energy Security for Pakistan
Chapter 29 Criminal Exploitation of Balochistan
Chapter 30 Education Sector Overhaul in Pakistan
Chapter 31 A Sustainable Development Strategy for Pakistan
Chapter 32 An Open Letter to Prime Minister Imran Khan
Chapter 33 An Open Letter to the Chief Justice of Pakistan
Chapter 34 Reconciling the Trade-off between Strategic & Economic Interests
Chapter 35 Challenges Emanating from Present Economic Situation
Chapter 36 Foreign Economic Interests & Pakistani Media
Chapter 37 Real Change or mere Rhetoric?
Chapter 38 Pakistan’s Posture at the FATF
Chapter 39 Why Kashmir Does Not Interest the Rich & the Powerful?
Chapter 40 Resolution of the Jammu & Kashmir Conflict: Way Forward
Chapter 41 Economic Potential & Challenges Facing the SCO Region
Chapter 42 Conflict in South Asia
Chapter 43 Islamic Emirate of Afghanistan
Chapter 44 Afghanistan and Beyond
Chapter 45 Why US, UK & India Can’t Reconcile to their Afghan Debacle
Chapter 46 Asia - The Next Economic Giant
Chapter 47 Challenges on Third World Countries: Individual & Collective Response
Chapter 48 Economic Integration of Six Countries
Chapter 49 Growth of the Chinese Economy
Chapter 50 Pakistan’s Relations with the People’s Republic of China
Chapter 51 Economic Integration & Regional Cooperation: Dynamics of Pak-Russia Relations
Chapter 52 Prospects of Pak-Russia Relations
Chapter 53 Sanctions on the Islamic Republic of Iran: Way Forward
Chapter 54 Making Peace
Chapter 55 Attack on Pakistan: Real Threats or Mere Rhetoric?
Chapter 56 Why the Master Mind is Not Punished?
Chapter 57 Pakistan’s Economic Managers & the IMF
Chapter 58 Putting the Worst Foot Forward
Chapter 59 Corona Virus Pandemic
Chapter 60 Voodoo Economics
Chapter 61 An Ideal Caretaker Government
Chapter 62 Caretaker Government
Chapter 63 Way Forward for the New Government
Chapter 64 Why Malala Yousafzai Was Attacked?
Chapter 65 Federal Budget 2014-15
Chapter 66 Comparative Analysis of the Sindh Budget 2014-15
Chapter 67 Asia Pacific or ‘Indo-Pacific’?

Dedicated to the loving memory of my parents
Aisha Wizarat and Dr. Wizarat Ullah Khan
From whom I inherited great love for Pakistan and its people
ACKNOWLEDGEMENTS
I am most grateful to Almighty Allah for instilling contentment and courage in me so that I could speak for the oppressed and the weak --------- whether they are individuals, countries or my own country Pakistan. This is possible only if the passion to speak the truth outweighs the desire for the good things in life. And I inherited this passion from my parents Dr. Wizarat Ullah Khan who served in the medical corps of the Pakistan Army and the Pakistan Air Force and my mother Mrs. Aisha Wizarat. Their lack of interest in the material things of life sometimes baffled me as a child, but I found myself falling in their footprints when I had to make my choices. I am indeed very grateful to them for passing on these attributes to me through upbringing and the genes.
I would like to acknowledge the financial support I got from the Institute of Business Management (IOBM), Karachi, Pakistan for meeting the publication costs. I would particularly like to thank President Talib Karim who is very supportive of academic activities. Thanks are also due to Mrs. Sabina Mohsin Executive Director Admin (EDA.), IOBM.
While I typed my articles myself, mostly on my IPad, but would like to acknowledge my PA Ms. Areeba Nafees Ahmed’s help with formatting the book, which she did with dedication, commitment and interest.
Thanks are also due to Dr. Kashif Imran and Dr. Muhammad Usman, both Assistant Professors at the IOBM for help with formatting issues. I would like to thank Ms. Sindhu Bhutto for data collection for chapter 15.
I am also grateful to my family for the love and support I got from them.
PREFACE
During the last thirty years neoliberal policies and economic managers have failed miserably in Pakistan, like they have in other countries that borrow from the International Financial Institutions (IFIs). And instead of resolving our crises, are pitting us deeper into the quagmire. According to Einstein “insanity is doing the same thing over and over and expecting different results.” The endemic failure of these policies is quite obvious now. Are the economic managers, therefore, insane as they continue to use the same policies for the last almost 30 years without success? At the outset they appear insane, but deeper introspection convinces me, that is not the case. Evidence for this presented in different chapters of the book.
Almost 75 years after independence Pakistan a country strategically placed and rich in natural resources, makes its land, air routes and resources available for free, then goes around with a begging bowl, borrowing money for budgetary support. This is what I have termed financial madness. With the majority of the population illiterate, poor and unaware of the real motives of the goverment. That is why we have not been able to reverse our Adverse Path Dependance for the last 75 years. The connivance between Pakistan’s ruling clique and the external actors is resulting in prosperity bypassing the people of Pakistan, while the fat cats are getting fatter. Different essays in the book have tried to explore how this connivance between external and internal actors is taking its toll in the economic, political, strategic and social spheres.
The debt crisis causing outflow of massive revenues to service debts and interest payments, along with the very harsh conditionalities on account of depreciation of the rupee and the hike in the lending rate have severely impacted growth of investment, output and employment, with very undesirable consequences on income distribution and poverty. As a result, we are now in the middle of a protracted crisis, which is taking its toll.
Often times I had been asked whether an alternative to the IMF exists. I not only formulated an alternative 22 years back, but have perfected it with recent data and innovative ideas. Although my alternative is superior to the IMF strategy, there is no appetite for an out of the box solution in the Government of Pakistan. There doesn’t seem to be much interest in a better strategy, as successive Pakistani governments prefer one that has IMF’s blessings and US stamp of approval!
My balance of payment crisis management discussed in Chapter 1 entails the use of barter trade and payment in local currencies, instead of foreign currencies. I have also proposed banning luxury and food products like chocolates, cheese, beverages, fruits, etc., since they are not essential imports. In spite of the seriousness of the crisis, no attempt has been made to crisis manage the balance of payments by successive Pakistani governments. Following are important deviations in my strategy from the IMF model:
a. The strategy formulated by me ensures that we tap revenue from all the sources and not just export earnings.
b. The adjustment I am proposing is not recessionary but expansionary.
c. The cost o