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Rs 8,500 bn corruption mars Gilani tenure: Transparency –>Ansar Abbasi, The News

February 5, 2012 Leave a comment

Transparency International Pakistan says Gilani tenure has given a loss of Rs 8,500 billions in corruption so far. Still nincompoos and corrupts in government expect people to pay taxes like “responsible” citizens. Yes, people like us who pay taxes despite corruption are responsible and they are responsible for beeing ignorant.

People should go for a collective boycott of taxes and take back the country from these evil ruling elite.

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Rs 8,500 bn corruption mars Gilani tenure: Transparency

Source : http://www.thenews.com.pk/TodaysPrintDetail.aspx?ID=12258&Cat=13

by Ansar Abbasi

ISLAMABAD: Pakistan has lost an unbelievably high amount, more than Rs8,500 billion (Rs8.5 trillion or US$94 billion), in corruption, tax evasion and bad governance during the last four years of Prime Minister Yusuf Raza Gilani’s tenure, Transparency International Pakistan (TIP) claims.

The TIP advisor, Adil Gillani, told The News that the real impact of corruption in the country’s economy is far more than what is generally estimated or what is formally uncovered. He believes that Pakistan does not need even a single penny from the outside world if it effectively checks the menace of corruption and ensures good governance.

It is generally believed that the four years of the present regime under Gilani had been the worst in terms of corruption and bad governance in the country’s history. Past records of corruption were broken and Pakistan started rising in the ranks of the most corrupt nations of the world.

There has been no check on corruption as the anti-corruption institutions like the National Accountability Bureau and Federal Investigation Agency instead of checking corruption have been siding with the corrupt.

These institutions have been helping the corrupt to get off the hook by distorting and mutilating the evidence in favour of the influential accused.
Adil Gillani, the TIP representative, who too has been haunted by the government during these years for producing corruption reports, explained that the TIP pointed out corruption of Rs390 billion in 2008, Rs450 billion in 2009, Rs825 billion in 2010 and Rs1,100 billion in 2011 under the present regime. The total of these identified cases of corruption is Rs2,765 billion.
In addition to this, he explained the following:

The minister of finance of the present regime himself confirmed corruption in FBR of over Rs500 billon per year, which makes the total Rs2,000 billion; Auditor General of Pakistan pointed out Rs315 billion corruption in 2010; Public Accounts Committee recovered Rs115 billion in 30 months till 2011; circular debt is Rs190 million; KESC was given Rs55 billion illegal benefits per annum since 2008; state-owned enterprises like PSO, PIA, Pakistan Steel, Railways, SSGC, SNGC are eating away Rs150-300 billion per annum; tax to GDP ratio in 2008 was 11%, which in 2011 has reduced to 9.1% instead of being increased.

Gillani explained that Pakistan’s Gross Domestic Product is worth US$175 billion and in the light of this the drop of 1.9% in the tax GDP means annual loss of US$ 3.3 billion. This confirms that FBR is losing Rs300 million per annum, which is annual additional loss since 2008 and stands at Rs1,200 billon in four years
The TIP adviser added that India’s tax-GDP ratio is 18%, and at that rate, Pakistan’s tax evasion/corruption in FBR is 9% of $175 billion, which is US$15.5 billion per year, i.e. Rs1,400 billion per year.

It is worth mentioning here that it is not only the Transparency International but there have been different international bodies including the World Bank and world capitals, which have been showing their concern over rising trend of corruption in Pakistan under the Gilani’s regime. It was mounting corruption and extremely bad governance, which even dithered the outside world to offer cash to Pakistan during 2010 and 2011 floods, which devastated different parts of Pakistan and affected millions of people.
At home the corruption became a fashion in such a shameless manner that even the cabinet ministers started openly pointing fingers at each other and even at the highest levels including the prime minister. Some even approached the Supreme Court but despite all this, corruption remained the hallmark of the present regime, which instead of curbing it started defending it in the name of democracy.

Over Rs193b loans written off in 12 years, SC told–>The Nation

December 27, 2009 Leave a comment

Source:http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/Politics/23-Dec-2009/Over-Rs193b-loans-written-off-in-12-years-SC-told

The Nation

By Zahid Gishkori

ISLAMABAD – The big guns of Pakistan got their over Rs 193.403 billion bank loans written off on the decisions taken by the financial teams of various governments from 1997 to 2009.
This shocking revelation was made in a report of State Bank of Pakistan (SBP) submitted before the Supreme Court. The report mentioned the names of those individuals and organisations who had got billion of rupees waived off causing a massive loss to the public exchequer and facilitating the privileged of the previous governments.
According to the list consisting bank-wise summary of written-off loans of 37 banks, that is also available with TheNation, the loans of around 19,711 individuals were written off within the period of last 12 years.
A three-member bench of SCP headed by Chief Justice Iftikhar Muhammad Chaudhry heard a suo moto case of Rs 54 billion written off loans case that has been pending in the apex court since November 2007.
“Over Rs 300 billion have been waived off by influential persons in the state as the arguments were being presented by the lawyers before the apex court,” the bench observed.
The SC started proceedings of the case on the request of a few citizens for public interest here on Tuesday. Chief Justice in his remarks said, “How will the looted money be recovered from the big guns of the country? Through which device can the public wealth be returned from the babus?” he questioned.
Criticising the government on failure of recovery from defaulters, he said the list of loans must be prepared at provincial levels so that cases of waiving off the loans in each province could be listed. He said court is ready to take on any resistance.
The court has directed the Governor SBP to sort out recovery mechanism of the loans waived off. It directed to hold conference with the presidents of other 37 banks to inquire about the loans written off during 1971 till date.
Dr Ishratul Hussain would be summoned to guide the court while taking u

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