China gave the assistance that Pakistan asked for. besides the 12 agreements the two countries signed on paper this time, there is at least anther US$500 million cash.
kronic if thats a dig, its a pretty lame ass attempt. in all honesty we dont know the dynamics of it all, me peronally im glad mr 10% didnt get any concessions, if the people want to bring in these baboons then they will reap what they sow.
ISLAMABAD: While the big question being asked in major official circles here is if China, Pakistan¡¯s key strategic ally, will deliver or not to a cash-desperate government in Islamabad, Beijing is dispatching a high-powered Peoples Bank of China delegation to the capital early next week, according to a cabinet source.
The bank delegation led by its head arrives in Islamabad on Monday to hold top-level meetings with key members of the government¡¯s economic team to assess Pakistan¡¯s desperate need for cash. The delegation will have detailed discussions with Adviser to the Prime Minister on Finance Shaukat Tareen and State Bank Governor Dr Shamshad Akhtar.
¡°China is going to do something more and the Government of Pakistan should be patient,¡± a Chinese source told The News on Wednesday, adding for cash aid a process had to be followed and some time was required to do detailed assessments.
¡°I am sure the visit of the Chinese bank delegation which will include top economic experts will be very important and have a positive outcome,¡± the source said. Pointing out that the Chinese leadership had held out the assurance to President Zardari during his recent visit to Beijing that China will do for Pakistan whatever was within its capacity, the source noted: ¡°So Pakistan should not worry, China values its commitments and will honour the promise it has made.¡±
The Chinese team is being dispatched after President Asif Zardari and his delegation during their visit to Beijing earlier this month shared with the Chinese leadership the dire straits that Pakistan¡¯s economy was in at present. According to insiders, the Chinese were informed of Pakistan¡¯s immediate need of a $2-3 billion cash input to avoid default. Reportedly, the Chinese were sympathetic towards Pakistan¡¯s situation. Subsequently, the Chinese leadership decided to send a bankers team.
China has a consistent track record of helping Pakistan diplomatically, economically and militarily. Most recently in April the then-president Pervez Musharraf accompanied by the current foreign minister Shah Mehmud Qureshi had requested China for a $500 million cash bailout deposit. The Chinese had obliged.
Officials who accompanied President Zardari on his first bilateral visit to China are hopeful that the China Bank delegation will make a strong case to the Chinese leadership for yet another cash bailout for Pakistan.
Notably, China today has a current account surplus of $1.6 trillion dollars. According to a Chinese online newspaper, The Economic Observer, China¡¯s foreign exchange reserves have reached $1.8 trillion.
According to strategic analysts, China as a far-sighted key global player stands by its strategic allies and it is unlikely that some immediate and significant financial help for Pakistan will not be forthcoming from Beijing. ¡°Irrespective of who is in power in Islamabad, Pakistan¡¯s strategic significance for its global ally China remains intact,¡± maintained one analyst.
BEIJING: China is quietly working to provide Pakistan a soft loan of $1.5 billion to overcome its financial crisis in addition to more than $3.7 billion to be invested in the telecom and power generation sectors in the next two to three years, Chinese officials told The News here on Friday.
Despite all security issues and financial pressures, China has decided to stand by its two trusted friends ¡ª Pakistan and Nigeria ¡ª where China will invest more than $4 billion by the end of 2009, they said.
Top Chinese government officials emphasised that both Nigeria and Pakistan were very important countries for China. Many Chinese oil companies are working in the dangerous Niger delta zone of Nigeria, while in Pakistan China is planning to connect its Xingjian province with African countries through the Gwadar Port.
Chinese experts are sure that their workers in both Nigeria and Pakistan are becoming victims of an international conspiracy and say that China will expose the hands behind this conspiracy very soon.
Nigeria was the first country to get a Chinese satellite in orbit and Pakistan will be the second country to use a Chinese telecommunication satellite by 2011. This satellite, named PakSat-IR, will have a lifespan of 15 years and will open new opportunities for foreign investment in Pakistan.
At a briefing in Beijing on Friday, hundreds of European and dozens of Indian journalists tried their best to force Chinese government officials to say that China would not build two more nuclear power plants for Pakistan but foreign office spokesman Qin Gang told a briefing: ¡°We will help Pakistan for the peaceful use of nuclear energy under the IAEA laws.¡±
China is also aware of those countries that are not happy over its presence in Africa and Gwadar. A Chinese official told this scribe that three Chinese workers were abducted by unidentified kidnappers this year in Calabar, the capital city of Nigeria¡¯s southern cross-river state.
Five Chinese telecom workers were kidnapped early last year in southern oil city Port Harcourt while two workers of a Chinese company were abducted in southern Nigerian state of Anambra by unidentified kidnappers late last year.
These kidnappings began in 2007 when China announced to provide a multi-billion dollar telecommunication satellite to Nigeria. India organised a powerful public relations campaign in the Chinese newspapers on Friday. Many Chinese papers were filled with ¡°Incredible India¡± advertisements with pictures of Taj Mahal.
me peronally im glad mr 10% didnt get any concessions, if the people want to bring in these baboons then they will reap what they sow.
Of course you are "glad" that mr 10% or zero percent didnt get aid, would have been interested to know what you would have said if he got the aid. Besides you dont live in Pakistan yourself and you will be glad, its your Pakistani ppl in Pakistan who will have to face a harsh and long winter. Be more concerned about them thn you are about mr 10%.
BEIJING: China is quietly working to provide Pakistan a soft loan of $1.5 billion to overcome its financial crisis in addition to more than $3.7 billion to be invested in the telecom and power generation sectors in the next two to three years , Chinese officials told The News here on Friday.
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"As an air defence analyst, I am fully aware that the Pakistan Air
Force ranks today as one of the best air forces in the world and that
the PAF Combat Commanders' School (CCS) in Sargodha has been ranked
as the best GCI/pilot and fighter tactics and weapons school in the
world". As one senior US defence analyst commented to me in 1991, "it
leaves Topgun (the US Naval Air Station in Miramar, California) far
behind".
-Sergey Vekhov
May 1993 issue (pages 46-47) of Airforces Monthly
1.5Bn is not good enough. The Pakis are now going to the UAE. The Saudis have already turned them down. So have the Americans..
If you are forced to go the IMF which is more and more likely with China only sticking to "Investments" you lose even more control over your COuntry.
The IMF will set your budgets , oversee Tax collection , Cut your Bureaucracy by half cut your military spending by 30%. Oversee and audit every bit of expenditure of your country... If it comes to that what becomes of the capacity to Govern yourself.
Mirza its not a lame attempt.I am pointing out something extremely serious (the ramifications). Mostlikely China itself has limited cash to dole out and Pakistani is probably the least safe bet. However if the IMF actually takes over your country then Pakistan has essentially failed. Hungary , Romania , SAFrica are all asking for IMF aid but the IMF only wants to control Pakistan Why?
R.K. Laxman, India's renowned cartoonist, honours the hardy & humble Indian Jawan
Chinese still recieves soft loans from Japan. Why don't they allow the Japanese to help Pakistan? The Japanese can work faster and provide firm grounds for future growth.
It goes everyway, China has been receiving loans from Japan since 1949, not a repayment for war damage but it was the least they could do. Does China need the money? Who knows, probably not, but its soft loans and they're willing to provide it, so why not take it?
Loaning and borrowing happens everywhere, China loans to America, America spreads it to banks, banks send it to other countries and companies.
Whoever said winning isn't everything must be a loser...
the IMF loan will be close to 12 billion dollars over the period of 3-4 years. China has decided to pay 1.5 billion dollars 2 billion short what pakistan needs. i am pretty sure PPP can allocate 1+ billion dollars from begging and the 2009 year may just work along. but like i said before... Democrazy time is very limited.. expect military to take over with in 1-2 years.
================================================
"As an air defence analyst, I am fully aware that the Pakistan Air
Force ranks today as one of the best air forces in the world and that
the PAF Combat Commanders' School (CCS) in Sargodha has been ranked
as the best GCI/pilot and fighter tactics and weapons school in the
world". As one senior US defence analyst commented to me in 1991, "it
leaves Topgun (the US Naval Air Station in Miramar, California) far
behind".
-Sergey Vekhov
May 1993 issue (pages 46-47) of Airforces Monthly
I don't understand why Indians laugh at pakistan's economy. Aren't the both countries similar rich or poor? The only difference is Pakistan is smaller and India has larger population.
The Muslims believe that Jesus (Peace Be Upon Him) was not crucified on the cross. They believe that he was raised to the heavens by the Lord and the Lord put someone (the Lord made him look like Jesus) in Jesus’ spot. There will be a day when Jesus (Peace Be Upon Him) will return to this world. He will return not as a prophet but as a follower of Muhammad (Peace Be Upon Him). Upon his arrival all the world's Christians will become Muslims. After some time the whole world will become Muslim for the Lord has said the whole world will taste Islam. I can't wait for that day. Indeed only someone so great can bring something so beautiful.
Long live the great Muslim people.
Long live the great Muslim nations.
^^^^^ You always post as if the thought of Pakistan getting harmed gives you a mid orgasm ; people get turned on by the strangest things nowadays.
"The high minded man must care for the truth rather than what other people think"
"If A equals success, then the formula is: A = X + Y + Z, X is work. Y is play. Z is keep your mouth shut." Albert Einstien
"If anyone is crazy enough to want to kill a president of the United States, he can do it. All he must be prepared to do is give his life for the president's." John F. Kennedy
not everyone think a nightout with camels as way to achieve satisfaction ....
___________________
oh shut the fuc-k up you shi-t hole talking douche bag un parented loafer internet troller!
================================================
"As an air defence analyst, I am fully aware that the Pakistan Air
Force ranks today as one of the best air forces in the world and that
the PAF Combat Commanders' School (CCS) in Sargodha has been ranked
as the best GCI/pilot and fighter tactics and weapons school in the
world". As one senior US defence analyst commented to me in 1991, "it
leaves Topgun (the US Naval Air Station in Miramar, California) far
behind".
-Sergey Vekhov
May 1993 issue (pages 46-47) of Airforces Monthly
^^ backward education, lack of indigrnous industry, lack of state control over every part of their country etc.
Notice how every Pakistani is "glad" China did not give aid, if aid was given they would have been glad that their alliance is superstrong. So China is so concerned about Pakistan that it wont give aid to a corrupt Govt. LOL!!!
That pakistan never had a strong economy to begin with is a result of its backward educational policies. Its people are poorly educated with no sign of change.
Its close 'relationship' with its neighbour 8 times its size also hampers development, and if you believe the regional-cultural aspect of development, (ie any country/region develops keeping in mind its immediate geographical and/or cultural neighbours) pakistani society's indian orientation never helped it advance much. Had it been more westward looking (towards Iran, Turkey, Saudi, UAE) it could have achieved much more.
Pakistan is more of a failed economy than any other major military power in the world imo. Its' probably due to its backward education policies.*********
RE: i agree... very little has been spend on educaton and social welfare
had it got it's act together pakistan would have occupied it;s self as leader of the islamic world
and economic power with military and nukes ... with out a doubt
it is shame we such losers for leaders.. pity...
Pakistan Airforce: The largest distributor of Indian airforce parts in Asia
Pathankot Strike
8 F-86Fs of No 19 Squadron led by Squadron Leader Sajjad Haider struck Pathankot airfield. With carefully positioned dives and selecting each individual aircraft in their protected pens for their strafing attacks, the strike elements completed a textbook operation against Pathankot. Wing Commander M G Tawab, flying one of the two Sabres as tied escorts overhead, counted 14 wrecks burning on the airfield. Among the aircraft destroyed on the ground were nearly all of the IAFs Soviet-supplied Mig-21s till then received, none of which were seen again during the War.
Pakistan to approach IMF for loan
By M Ilyas Khan
BBC News, Islamabad
Pakistan's economy is in a meltdown
A top Pakistani official has said that Islamabad would approach the International Monetary Fund (IMF) for a loan in the next 10 to 15 days.
Pakistan has been exploring other sources of funds in order to avoid stringent IMF conditions, but the efforts have failed so far.
Shaukat Tarin said the country would have to "swallow the bitter pill".
Pakistan needs more than $5bn in less than a month to avoid defaulting on international debts.
The Pakistani economy has grown by 7% to 8% over the last few years, but most of this growth has taken place in sectors such as consumer financing.
By 2006, trade imbalances because of high imports caused the economy to slow down.
A subsequent rise in international prices of food and oil worsened the country's trade imbalance.
This led to a fall in the value of the Pakistani rupee and a flight of capital from the country.
Unpopular
Pakistan has received massive pledges of support from the world's economic powers over the next five to 10 years.
But none of these pledges are likely to be realised over the next 15 to 20 days within which time Pakistan has to pay off loans and meet other obligations.
In the past, Pakistani officials have said the IMF would be their last option due to its unpopularity at home.
IMF conditions entail cutbacks on the size of the government, development expenditure and some politically important subsidies.
But on Tuesday, finance adviser Shaukat Tarin defended the government's plans to approach the IMF, saying the Pakistani team would be able to negotiate a loan with fewer conditions.
He said an IMF loan would also open doors to other international financial institutions (IFIs) as they would be more confident to loan money to Pakistan.
"The IFIs agreed and appreciated our economic programme and social safety net, but they desire to get it approved from the IMF before offering us a financial facility," he told the upper house of the Pakistani parliament.
The IMF has agreed loans to several nations to restore their economies.
Ukraine, Hungary and Iceland have reached agreement with the IMF over loan deals.
