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Strategies & Market Trends : India Coffee House

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To: Mohan Marette who wrote (2291)	8/10/1998 3:30:00 PM
From: Mohan Marette	Read Replies (2) of 12475

Miracle in Islamabad- Wow what a country!!! Miracle!: Pakistan elite zooms around in foreign cars as economy crumbles..... Sharief had gone ahead with the nuclear tests hoping that Pakistanis settled abroad would send enough money to make up for the loss of foreign exchange due to anticipated sanctions...... Former Pakistan finance minister Dr Mubashir Hasan, in a lively interview. Following the sanctions, what is the situation of the Pakistani economy? Pakistan's economy is extremely sound, perhaps sounder than India as far as potential is concerned. Will it surprise you to hear that Pakistan's ruling elite has stashed $ 100 billion in the US alone during the last two-three decades, whereas the country's total debt is only $ 32 billion? This $ 100 billion figure was revealed to me by the American consul general in Karachi on March 21. I am mentioning this to show the earning ability of Pakistan, and that if Islamabad improves the management of its resources, it can ride the sanctions. You must also remember that, on a per capita basis, Pakistan's income is higher than India's. My comment. Yeah 'earning ability' to steal perhaps-Is this guy a joker or what??? It is as if they are going to return the money...yeah buddy, give me break pa-leeeese. Wonder why the ex-Pak finance minister living in Delhi??? 209.194.80.218 rediff.com

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