Be Thankful to Musharraf for NRO
By Gul Raiz • Nov 24th, 2009 • Category: Features • 5 CommentsNational Reconciliation Ordinance (NRO) by far is the best thing that happened to Pakistan after the 1973 Constitution. The 73 constitution was just some guidelines, whereas NRO is the practical step to strengthen the survival of the constitution in the country, and the whole nation including those didn’t bestow by the NRO should be grateful for the former president general (r) Pervez Musharraf.
The brightest aspect of the NRO was to put an end to political confrontation and victimization and to strengthen the democratic system at all costs. It was established that the politicos would forget the enmities and the vitriolic hatred politics will be forgotten and forgiven and it would be a new start of the democratic process in Pakistan.
PPP Information Secretary Fauzia Wahab is right when she asserts that the NRO was promulgated after efforts of people who had vision of future and they did it for democracy and for finishing the politics of enmity that was seen in the Nineties and she rightly learns that the credit should goes to the General Musharraf.
The ultimate goal of the NRO is to enable the people of Pakistan would decide the fate of their leaders through power of ballot which is indeed stronger than all the bullets combined.
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Are you crazy ?
We should be thankful to Musharraf for many things but not for NRO. In fact NRO was the result of insincere advice to Musharraf from the Q league leaders at that time. There were two options available viz, to remove 3 time prime minister election or the NRO. Q league did not agree on the first option, as their leaders were the candidate for PMship.
Ultimately, Musharraf had to introduce NRO which was his mistake.
Pakistan’s top defaulters:
According to the Moeen Qureshi list of 1993, Fazalsons group was defaulting in the payment of 34 loans amounting to Rs 2,164 million, Hyesons was defaulting in Rs 1,174 million, Habib group in payment of 32 loans worth Rs 850 million, an obscure Naqvi group was in default of Rs 676 million, Tawakkal Rs 479 million, Adamjee Rs 198 million, Dadabhoy Rs 191 million, Hashwani Rs 48.7 million and Fancy Rs 40.6 million.
Major defaulters among the politicians were Chaudharies of Gujrat who were defaulting in payment of six loans worth Rs 109.66 million against Phalia Sugar, Punjab Sugar and Sapco Limited, Ittefaq group Rs 83 million against Ittefaq Foundry, Saifullah’s Rs 37.3 million while Zardari group was in default of Rs 7 million.
List of top loan defaulters by Benazir 6.9.1996.
S.No Name Amount Borrowed Default (Rs in Millions)
1 Ittefaq 3,675 2,891
2 Fazalsons 3,475 3,475
3 Tawakkal 1,768 1,464
4 Bela Chemicals 1,259 1,217
5 Abdul Shakoor Kalodia 1,215 1,215
6 Naqvi 1,213 1,060
7 Zahur 1,035 905
8 Ghani 1,023 985
9 Arabian Sea Enterprise 950 913
10 Hyesons 750 725
11 Chaudri Cables 716 684
12 Farooq A Sheikh 632 632
13 Habib 615 615
14 Bawany-Alnoor 601 485
15 Chaudry Shujaat 544 381
16 Dawood 540 325
17 Adamjee 526 494
Total 20,537 18,466
Top defaulters by Meraj Khalid in January 1997
S.No Name Amount in Default (Rs. in Million)
1 Ittefaq 3,013
2 Tawakkal 2,956
3 Fazalsons 2,800
4 Bela Chemicals 2,339
5 Chaudri Shujaat 1,557
6 Abdul Shakoor Koladia 1,254
7 Fauzi Ali Kazim 1,159
8 Saigol 1,086
9 Naqvi 1,056
10 Zahur 1,028
11 Abdullah Al-Rajaih 1,031
12 Ghani 903
13 Habib 845
14 Adamjee 832
15 Hashwani 640
16 Arabian Sea Enterprise 626
17 Sargodha 581
18 United 501
19 Chakwal 441
20 Dawood 376
21 Bawany-Alnoor 352
22 Fateh 213
23 Packages 166
24 Colony 81
Total 25,389
Top four defaulters are common in lists published by Benazir and Meraj Khalid adn 24 individuals and families are defaulting in the payments of Rs 26.7 billion to the nationalized commercial banks and financial institutions. Mian Aftab Ahmad of Fazalsons and Habib Bank Gujranwala merit a special place in the history of banking frauds in Pakistan.
Mian Aftab Ahmad, A professional loan defaulter:
Do notforget tothankMusharraf forthe following
Pakistan’s Economic Comparison 1999 to 2007
Pakistan’s economy grew by 100% — to become $ 160 billion
Revenue grew by 100% — to become $ 11.4 billion
Per Capita income grew by 100% — to become $ 925
Foreign Reserves grew by 500% — to become $ 17 billion
Exports grew by 100% — to become $ 18.5 billion
Textile exports grew by 100% — to become $ 11.2 billion
Karachi Stock Exchange grew by 500% — to become $ 75 billion
Foreign Direct Investment grew by 500% — to become $ 8.4 billion
Annual Debt servicing decreased by 35% — to become 26%
Poverty decreased by 10% — to become 24%
Literacy ratio grew by 10% — to become 54%
Public development Funds grew by 100% — to become Rs 520 billion[45][46][47][48][49][50]
The vision and policies helped Pakistan come out of the list of Highly Indebted Poor Countries (HIPC) while setting it on path of prosperity, growth and economic reforms. The world financial institutions like the World Bank[51] and IMF[52] and ADB[53] have been praising Pakistan for its reforms, fiscal policies and macro-economic achievements.
Poverty alleviation
Pervez Musharraf is now on facebook
http://www.youtube.com/watch?v=pDpYik2-u6o
http://www.facebook.com/pervezmusharraf?ref=nf