29-
FOREIGN LOANS
It is a matter of grave concern for every patriotic Pakistani to
realise that our country is sinking, day by day under the heavy
burden of foreign loans. We continue to procure loan after loan
but have nothing to show for it. The loans are not utilised for
the projects they have been obtained for. Loans are
misappropriated through ineffective planning, malpractice and
corruption. Little developmental work is seen because such a
small amount is spent on the projects for which these loans are
procured. Due to defective planning and corruption, we have not
been able to achieve the economic advantages these loans could
provide us. Little development is seen because bureaucrats and
corrupt politicians embezzle the funds earmarked for the
repayment of previous loans and the rest is misappropriated by
bureaucrats and corrupt politicians. Due to the blatant
corruption and embezzlement not only is the burden of foreign
loans upon the country growing constantly but no developmental
work is being carried out either. MQM wants to see a drastic
reduction in dependence on foreign loans and to inculcate zealous
participation by the people in promoting national development
programs. Furthermore, corruption, irregularities and defective
planning should be wiped out from the system. Such policies to be
formulated that would prove to be helpful in making the country
self-sufficient, to an extent that reliance on foreign loans can
come to an end.