The national English press has highlighted the statement of State Bank Governor that it would be difficult to pay $4 billion to IMF due on July 1 as debt servicing while the final tranche of $3 billion has been held back by IMF. This shows our precarious financial position while World Bank has said in its annual report on Pakistan that loss to industry by not building KBD is to the tune of $4 billion per annum. Add to it the loss in agriculture of $2 billion annually which shows that we cannot get out of debt trap where over 60 percent of our state revenue is lapped up by debt servicing and defence.
The PPP is being held hostage by the ANP and Sindh nationalist parties funded reportedly by India to block the KBD lifeline which poses a disastrous situation for Pakistan but the President inspite of his sharp insight and astuteness does not have the guts to face the truth of the inevitability of KBD. The dam could win him two more presidential tenures if he rises to the occasion to build a consensus on the dam which could face any lurking tsunami on the horizon. The decision is yours, Mr President, to sink or swim in the troubled waters of Pakistan.
DR MUHAMMAD YAQOOB BHATTI
Lahore
