Two Russian Naval warships - frigate Yarsolav Mudry and tanker Kola – have arrived on a goodwill visit at Karachi port on Thursday.A joint counter narcotics exercise will be conducted on Monday (October 20), involving Pakistan Navy, Pakistan Maritime Security Agency, Anti-Narcotics Force and Russian flotilla. Visit of Russia’s Federal Department of Counter Narcotics Director Victor P Ivonov is also planned concurrent to the ships visit.
The dignitary will meet senior government and naval officials and will also board Russian naval ship for witnessing the exercise. The event is of strategic significance and would go a long way in enhancement of bilateral relations between the two countries. During the visit, training activities and discussions on maritime security issues are also planned.Such visits help in promoting peace and security in the region and are in line with the policies of the government to enhance maritime collaboration with regional and extra regional countries. It may be mentioned here that the Russian naval chief had recently undertaken first ever visit to Pakistan.
Cooperative engagements between Pakistan and Russia on many fronts particularly relating to defense issues is getting enhanced progressively.
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Pakistan Govt’s bottomless debt gallops to $149bn till July 2014 on the way to make Pakistan a failed state
The government is blindly plunging country into bottomless debt as Pakistan’s total public debt has galloped to $149 billion, including $65 billion foreign debt and $84 billion domestic debt as of July 2014.The current debt to Gross Domestic Product (GDP) ratio is 64.27 percent, violating the Fiscal Responsibility and Debt Limitation Act (FRDLA). This is bleak situation. The Nawaz government is constantly taking new loans and stealing from people’s pockets through imposing heavy taxes and billing in order to repay the IFIs and creditors. The government should stop blind borrowing, generate revenue through progressive taxation and set up debt audit commission to dig out illegitimate debts, they remarked.
The people of Pakistan are less and less ready to bear the injustice at the hands of governments and lenders. Poor people are being forced to contribute to pay back the loans, never spent on masses welfare.Pakistan is ruled, most of the time by the IFIs-backed military dictators who directly governed the country for 32 years (during its 67 years life). These dictators, during their respective tenures, not only undermined the democratic institutions in the country but also incurred heavy debt to Pakistan, with almost 80 percent owed to IFIs, including International Monetary Fund (IMF), World Bank and Asian Development Bank.
Dictators debts, donor-dictated mega faulty projects, IFIs neo-liberal conditions, tax reductions on higher incomes, personal wealth and the profits of private corporations have led public authorities to increase the public debt so as to compensate for the drop in government revenues.
This would make every Pakistani indebted to $825.
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