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.

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