Incapable leadership
REVIEWING the past 70 years of our history it comes to limelight that the rulers have entangled the country into inextricable slavery of IMF, World Bank, ADB and world powers from which we despite our hectic efforts, cannot disentangle ourself till the next one hundred years.
Any coming ruler, despite all his sincerity honesty, efficiency, dedication and devotion to his cause to unload the country of heavy burden of debts has the least chance to attain his goal because the diamond — fated rulers have mercilessly plundered the country to erect their business empires in parts of the world.
Unfortunately, after the death of Quaid-i-Azam Muhammad Ali Jinnah we had not the golden fate to enjoy the leadership of a sincere, honest, efficient, devoted, hardworking personality.
Every coming ruler in some way or the other and boasted that his tenure would be a golden era in the history of Pakistan and the general masses would remember him till centuries to come.
If we remember them, we will surely be constrained to think past era as oblivious past. It is noteworthy to mention here that general masses would surely remember the past of Pakistani rulers but as travailing era, in which the nation remained as losers and the rulers as gainers.
Some diamond — fated rulers of the near past have accumulated heaps of wealth for their next generations, the magnitude of wealth is insurmountable. To-date disclosure of their wealth is like salt in the flour. If one comes across the magnitude of their wealth, one would get stunned and might be unconscious due to unfathomable deep shock.
We cannot extricate ourselves from the net of borrowed debts as long as we announce that we will not pay the barrowed debts and same will be paid who has borrowed that loan.
It is a crystal clear fact that foreign debts are not used to attain the original purpose of national construction. These loans are swallowed by the ruling elite and not more than 20 per cent is spent on national building purposes.
South America, which is often called as Latin America, comprises 33 countries, which remained away from international media coverage, was dominated by the US. A school of America was instituted in US to educate and prepare battalions of officers to equip them the intellects of governance in a dictatorial manner to keep that region under US surveillance.
This school equipped millions of officers to keep the US sway over South American countries by the common tactics to abduct, forced disappearance, state coercion to make the masses depressed, never think to stand against state coercive tactics.
The US never cared the concept of human rights in these 33 countries, even the media had not the courage to raise voice for these South American States.
Millions were made victim of forced disappearance, ruthless killings and other dictatorial tactics. Rulers of these countries, who ever dared to stand against America, were killed mercilessly. Human rights organizations kept criminal silence over these US crimes.
The rulers of these countries plundered these countries like aliens and made these countries lynched under foreign debts.
But a day came when three countries, Ecuador, Argentine and Paragoye raised their hands and announced that they would not repay foreign debts and declared foreign debts as “illegitimate debt”. The foreign debt term “A loan which is accrued for the benefit of a few is illegitimate” was derived from the thought of international organization based at Brussels naming, “Committee for the Abolition of Illegitimate debt CADTM.
The most brilliant picture is of the Ecuador which had the honour of an honest, brave devoted leadership – Rafeel Correa – who initiated a revolutionary movement named as “Citizen Revolution Movement”.
Rafeel Correa had the agenda that Ecuador will not pay the debts which came under CADTM definition. Rafeel was elected as President of Ecuador in 2006 and immediately after his assuming power he ordered to audit the foreign debts and IMF, World Bank offices were closed in Ecuador.
The Audit Committee comprised 18 economic experts, who after laborious audit of 14 months declared that since 1976 to 2006, 80 per cent foreign debts were accrued which fall under the definition of CADTM and were illegitimate debts, which were demanded to be declared as illegitimate and the lending institutions after lengthy dialogue conceded that 70 per cent debts were illegal and these were admitted to remain unpaid by Ecuador and were written off by the lending institutions. In 2008 budget of Ecuador was a parallel to a Big Economy of the world.
In June 2021, Pakistan’s foreign debt was 39859 billion and out of these 13559 is foreign debt, which is 34 per cent of total debt. 26300 billion debt is of native banks which is equivalent to 68 per cent.
John Perkins flashes in our memory when we compare our rulers with other world leaders, who wrote in his renowned book “Confession of Economic Hit Man” that when we intend to enslave a nation, we convince the rulers to take loans for communication, construction, infrastructural purposes. Such loans do not play a pivotal role in the educational, living standard uplift of common man.
Such loans are accrued for the benefit of a few, who accumulate that plundered wealth abroad for luxurious life of their coming generations. They live a luxurious life and common people sink in poverty. Since long we are awaiting the leader having the capability like Rafeel Correa but still our dream is far away to be materialized. Can we have the fate of having a leader like Rafeel Correa.
—The writer is author of English Book on current affairs and independent columnist.
