Cheers, Doc
Happy to see I am not the only one who shares this sentiment.Bull*hit.
Life is tough but not that much to migrate insanely.
I love my city (Lahore), its life, Its food, its streets, its roads, its people can't imagine living in a strange land, with strange people strange food, strange customs. Foolish Idea.
I belong to the middle class but still prefer living Pakistan on every other country out there. For me living in your home country place city where your forefathers are buried (one day i too joins them besides) is a luxury who only afford by fortunate people, Not runaway gypsies.
Pakistan should file bankruptcy, it is pointless to pay debt-interest an extreme tax burden on the people of Pakistan and it's never ending story. Plus IPP payments is another burden on this nation, thanks to Nawaz Shariff.
Grade 1 - 16 pay 25 percent more tax. Rest from 17 and above scot free
There is no such thing as 'file bankruptcy' for a country. What you are suggesting is Pakistan should default on its debt. if that happens:Pakistan should file bankruptcy, it is pointless to pay debt-interest an extreme tax burden on the people of Pakistan and it's never ending story. Plus IPP payments is another burden on this nation, thanks to Nawaz Shariff.
Grade 1 - 16 pay 25 percent more tax. Rest from 17 and above scot free
There is no such thing as 'file bankruptcy' for a country. What you are suggesting is Pakistan should default on its debt. if that happens:
(1) if the external debt is repudiated, pretty much immediately, all exporters to Pakistan will stop sending anything to Pakistan. Immediate impact will be shortage of petroleum products. With that, the economy will come to a standstill. Then other shortages like drugs, medical supplies etc., will occur.
(2) if internal debt is repudiated, pretty much all the banks will go under. With that, people's savings and deposits will evaporate. There will be major social unrest when people realize they can't withdraw their money, which they though is safe in banks.
These things are not new; most recently, they have happened in Lebanon, Syria, Venezuela etc., The results have not been good. Those countries have not been able to return to normalcy. Sovereign default is not like personal bankruptcy where you can file Chapter 7 and then go back and work somewhere to start a new life.
Russia default is a special case due to western sanctions. It has a smaller population, practically sitting on a gas tank and a strong industrial base and well-developed human capital. Still, they are suffering through shortages of imported goods etc. Argentina was a wealthy country before mismanagement drove it to ground. Now, poverty is rampant, currency is useless (the economy has become dollarized for middle and upper classes. only the poor use peso due to very high inflation). Still, it is a country with smaller population, vast agricultural resources and high level of human development.I doubt, much impact. In the modern era, Russia declared bankruptcy in the late nineties, and in 2001, Argentina also declared bankruptcy.
Some people are getting Electricity bills that are more than their monthly
salaries.
fat chance - anyone could tell Stalin that and expect to live