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Our money is theirs now

November 6, 2008

Contemplate the strange irony. We, the Pakistani taxpayers, are being made to pay back the money we never owed to those who never paid a penny to us. The stock exchange brokers made billions from this booty but were always exempted from taxation, thanks to the vested interest of our previous rulers. They were also above all accountability despite clear evidence of what they did with the small investors in two massive crashes of 2000 and 2005. Last year, when they found the economy was sliding into a recession, they took all their money to Dubai, Malaysia and other places. The dollar shot upwards due to this flight of capital bringing our debt liability to 25% higher. A liquidity crunch ensued in the country's banking system.

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