This is a serious issue as outlined below.
Is it an isolated incident or just the first or second domino….
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Pakistan: Finance Minister Warns Imminent Complete Economic Breakdown
The Sinister Plan is in final phase now.. Pakistani citizens simply have no idea that they are facing the worst ever crises in recent history. Floods will bring hyper-inflation, shortage of food, magnified power crises and collapse of entire political and economical system if this devastation continues. Now America–Israel–India–Nato will have the perfect excuse that Pakistan nuclear weapons could go in hands of Taliban or Al Qaeda in these chaotic times when Pakistaniextremists are on the loose! armed and security forces are fully occupied doing rescue, relief and rehabilitation work in hundreds of cities and villages while the economy is collapsing fast and
KARACHI: Federal Finance Minister Dr Abdul Hafeez Sheikh warned that government would not have enough money to pay the salaries to the government employees after two months as a result of country’s worst flooding. Abdul Hafeez Sheikh cautioned Federal and Provincial Governments and military authorities to demonstrate highest level of fiscal responsibility in order to avert a ‘complete economic breakdown’.
Giving an overview of the economic situation, the Finance Minister clearly told the top civil and military leadership that the national economy was teetering on the brink even before the floods and was now heading towards an abyss because of the devastation caused by the disaster.
The Finance Minister also said that the country’s overall debt stood at about Rs.8.75 trillion, which had increased by a massive 46 percent from Rs.6 trillion two years ago.
The debt has increased to such a level that the country is on the edge of insolvency.
Dr. Sheikh further said that the government would have to show strong commitment to restructure and improve the situation.
He also called for implementation of austerity measures approved by the federal cabinet last year ‘to stop further bleeding’.
Briefing a high-level meeting headed by Prime Minister Syed Yousuf Raza Gilani, he the national economy was ‘teetering on the brink’ even before the floods and was now heading for an ‘abyss’ because of the devastation caused by floods.
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myBlessedHope 