We are talking about those people who have the sense and understanding of the fact that when they fearlessly take a loan and fulfill their own personal desires, there are many others who will return their loans. These people did not even blink their eyes and think for a second while signing the agreements of these loans that these loans will be returned by the common people driving rickshaw, chinq Chi or motorcycle when they give employee of pump stations a rotten bank note, which might be what he all have.
One may find similar kind of common people in every city and town that don’t have any idea that these shining motorways, state of the Metro Bus service and recently the Orange Line Train which is being built by destroying the houses of these common civilians is being done with the money that is taken from them in the form of taxes. These common people will give these taxes when they buy ordinary items that are a basic necessity for them to like. You can take the examples of sugar, wheat, rice, milk etc.
These common people believe that the rise in price of basic commodities is due to inflation among other things. However, the fact is that the cost is rising due to incremental fantasies of politicians which increasing day by day. These politicians increase the price so that they can give back those loans that they have taken for big budget spending. These are the National Loans that are thronged upon us by the International financial system implemented in today’s world. Just a few centuries ago, there was no concept of national loans. There were only personal loans that were taken for personal needs.
Take the example of subcontinent before 1947. There was no loan taken by any international monetary organization and yet there was massive railway and irrigation system built. A vast network of educational institutions was built along with a healthcare system that included hospitals for both Humans and animals. One can just look back at the beautiful and exquisite buildings built in the Victorian era throughout the big cities of Subcontinent like Lahore, Dehli, Madras and Calcutta among others. All these things were built without loan and even after all these spending, the British Raj was able to send 50 Million Pound Sterling back home to fulfill their desires. After partition, a country built in the same subcontinent, Pakistan now has gigantic loan depth that every single Pakistani National, even if he is a one-day old kid or a ninety-year-old person, each and every one has a burden of 100,000 rupees under his head. Total national depth of Pakistan reaches to 18 Trillion rupees.
Astonishing that it might sound, but out of t
hese 18 Trillion Rupees, 12.1 Trillion Rupees of loan is taken by Govt. from national Banks. This means that these loans are actually the difficultly earned money of these common people which is being kept at these banks for the sake of minute interest that they receive. These loans are not taken by the govt. for the sake improving education system or healthcare, rather they are taken to fulfill their ulterior motives of building mega structures like gigantic airports, widening road Murree Road, creating a metro system and now recently the Orange Line Train.
Wheat is being bought by Govt. of Pakistan at a fixed price every year to provide consistent supply of wheat to everyone while providing good value to Farmers and labors. To buy wheat, govt. takes loan from banks which is then returned after selling the wheat. This financial system is called Food Account. All the financial assets of Pakistan are divided into two categories, food account and non-food account. The revolving debt around food account in Pakistan reaches to 120 Billion Rupees and in the April of this year, there will be no money left for govt. to buy wheat.
In the era of hunger, poverty, joblessness and lack of basic healthcare, we congratulate everyone that we took loan in order to build very important transportation networks like Metro and Orange Line. We are in such a dire situation that when govt. announces budget for fiscal year they allocate funds of various projects healthcare and education and clear drinking water. These allocated funds are instead utilized for building these public transport systems.
When Metro Bus was being built in Lahore, Govt. utilized funds allocated in 2011-12 budget for Development projects regarding water, producing electricity from coal, creating link road to connect impoverished areas of Punjab, starting schemes to improve social and financial situation of Cholistan area of Southern Punjab and to create small dam. All these projects were sidelined to create Metro Bus Service.
The govt. doesn’t even care about spending these loans to improve the living condition of common men. Instead it fulfills its royal ambitions. Govt. is spending 6 Billion Rupees per kilometer in Orange Line project. To subsidize the fare, govt. will spend 140 million rupees a month. Further 40 million will be spent in maintenance and 100 million in returning loans taken for development. That’s 280 million rupees a month and 28 Billion rupees a year.
250,000 people will travel through orange line every year. Which means 650,000 rupees have been spent per person in the development of this project. In that amount, one can buy a Suzuki Mehran. Moreover, with 28 Billion, govt. can develop 41 cancer hospitals of the size of Shaukat Khanam Hospital. 300 schools can be built in every district of Punjab and that’s a total of 10,000 schools. In Punjab, govt. spends just rupees 600 per person on education.
When it comes to healthcare, Rs. 500 are spent. Meanwhile, govt. will spend Rs. 1600 per person. These are our priorities and our planning. It is said that when a road is built in an area, good will and better opportunities comes with it. However, when we look 20 years into the development of Motorway, we see object poverty on both sides of the road.
Sometimes, when we look back into these projects, it looks as if these leaders have created a safari through the jungle. The only difference is that we see poor people through the window rather than beautiful wildlife.
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