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Print Print 2014-06-04

Partly Facetious: Dar believes loans are good

"I was wondering...who do you think is the most ardent admirer of Ishaq Dar?"
Published June 4, 2014

"I was wondering...who do you think is the most ardent admirer of Ishaq Dar?"
"The son who received the 22 crore interest-free loan and need I add unlike the multilateral loans Dar covets for the country there are no conditions, no return date specified, no administrative cost..."
"You are being facetious! Administrative cost indeed."
"Well, parents are kind of administrators but Dar believes loans are good and that is why he is busy procuring as many loans as he can - and since the country's rates are too high he is borrowing from abroad to pay off domestic loans."
"Doesn't he realise that the exchange risk makes domestic loans more attractive in the long term? And especially for a country like ours that continues to struggle with the political dimensions of policy reforms."
"Good heavens!"
"Anyway I reckon that Dar's biggest admirer is the Prime Minister...he not only defends him vigorously, gets his President to refer to extremely impressive economic achievements while the rest of us plebians are struggling to survive the heat without electricity, no water and ever rising prices of food with the cumulative inflation simply crippling and..."
"I disagree whole heartedly. Dar's biggest admirer is Dar himself. He was the loudest desk thumper when the President referred to his extremely impressive performance - impressive I could stomach but extremely impressive?"
"Zardari sahib never went so over board with his Finance Ministers."
"Zardari sahib had how many finance ministers and how many finance secretaries during his five years? And how many of these finance ministers were jiyalas?"
"Once they got the position all of them were jiyalas - I recall Dr Hafeez Sheikh of the Musharraf era talking in glowing terms of the Bhutto family..."
"Imports have no backbone and need I add no clout to implement good policies."
"I have one suggestion."
"That Dar should heed advice by known economists..."
"Waste of breath? My suggestion is for Zardari sahib to select two people, one as backup, and fund their studies in development economics. Its time that the PPP high command understands that economics is not only about politics..."
"Could Mian sahib send Dar as well for a refresher course in economics..."
"Refresher course? The guy is an accountant - he needs to pass a four-year graduate programme."
"Don't be personal."
"Seriously, given that Mian sahib is so focused on extending benefits to higher education (laptops and reimbursement of fees) surely he should also focus on higher education for his cabinet members."
"Don't be facetious."

Copyright Business Recorder, 2014

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