Book Review: " Pakistan: Sovereignty Lost" by Khurram Iqbal Awan & zamurrad Awan

Pakistan:Sovereignty Lost

Pakistan: Sovereignty Lost

By Shahid ur RehmanMr.Books, Islamabad

ISBN: 969-8500-01-4

252 pp. Rs 395.00

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Reviewed by Khurram Iqbal Awan & Zamurrad Awan

zamurredawan@yahoo.comM.phil, political Science

Government College University Lahore

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Foreign Dept is a matter of serious concern when u especially look the situation in to a national security paradigm. It does not only determine the internal condition of a state but also vibrantly communicate the international settings of a that particular state. The real problem arises when the heavy external borrowing could not be used appropriately, therefore no productivity could be ensure.such type of situation leave a deep impact upon the sovereignty of a an independent state.

Mr Shaid ur Rehman, a veteran journalist known for his economic and diplomatic reports, has beautifully figure out the the details of loans which has been miss-used by the governemnt of Pakistan. He said pointed out that the Pakistan contracted loan of worth $80 billion, however $70 billion has been repaid and $ 35 billion yet has to repay. the highly criticised point of the government strategy is that the government of Pakistan in different point of view keep on asking for resheduling or dept relief without realising the heavy burden on Pakatan’s economy in future.
while defining the history of indeptedness in Pakistan, writer shifted the blamed from economic to political decisions, as he said “it’s a national tragedy that not a single Pime Minister, President opr a a military ruler , in the peiod of 59 years, honourably left his office.”In 1947 the first loan was sought by Quaid-e-Azam, worth $2billion immediatelty after independence from the United States, as Pakistan was unable to meet their expenses being a newly born country.anopther request was claimed under the signature of Liaquat Ali khan after the after two days of his assasination, which was really a susopecious act as US envoy Avra Warren met to LiaquatAli khan, four days back and asked for Pakistan to contribute towards Middle East defence. Liaquat made the contribution contingent on a Kashmir solution and not on $2 billion. In fact, Liaquat was broaching a joint defence with Iran and Egypt, against the western bloc.

Shahid ur Rehman tells that in 1952 Wheat was importated to Pakisatn From US with the signs of “Thank you America” hanging from the animals’ necks. that show the serious sign of soveregnity lose in Pakistan, at the same time India on such an aid didnt show any gratituide to the US. Moreover, Writer consider Ayub Khan hihgly responsible to grant the Badaber Base to US to get economic assistance, which add insult to the injury.Shahid ur Rehman reveals that 1989-90 was the first financial year during which debt repayment came first in the federal budget, getting ahead of defence and development (P.74).

Writer veilout that Since 1990, Pakistan is paying $39 million every year to encash one National Highway Authority bond worth $22 million and “nobody knows when, how and why these bonds were issued” (P.84).During 1988-99, loan packages were concluded with IMF by caretaker governments and later signed by prime ministers Benazir and Nawaz Sharif governments the most suprising reality is this, there is no accountablity on these debts.

Every new governemnt didnt try to deal with trhe issue of hight debt crisi , moreover they put t he3ior 100% effort to hide the real view of Pakistan economy from their country man.In 2002 Mr Shuakat Aziz, the then finance minister reportedly told the Paris Club that he would be unable to go back to Pakistan, if he did not get debt relief. The Musharraf government has repaid $27 billion ($20.5 billion principal and $6.5 billion interest) and has reduced the debt by $1 billion. It indicates the borrowings by the military-led government.Shahid ur Rehman figure out that the total external debt of Pakistan is now 54% GDP.

Writer clearly tells that the forign assistance is a serious matter which should be dealt intelligence. if the country take such issues causually then the country would be subservient to out side powers and lending agencies by creating perpetual dependence on them. the same happend to Pakistan.Though, the writer by using original source matrial make a view of debt history of Pakistan but at the same time he has figured out the present scernario with the implications of weak economy on Paksiatn in future.