One third of budget is allocated for payment of interest on loans. More loans are intended to be taken from banks to cover budget deficit. This cannot continue. It is time to free ourselves from the noose of global and domestic banking cartel. We are in this situation because our economic managers are working for banker’s interests. Following steps are recommended: · Payment of interest to banks should be deferred. · The money allocated for payment to banks as interest should be used for those development projects which can generate income. Part of it can then be used for repayment of loans. · IMF and Wold Bank should be asked to wait till we are able to generate income instead of getting more loans to pay interests. We should not be scared of threats of sanctions. Our general public is already living a very hard life. They cannot be intimidated any more.
Posted on: Thu, 13 Jun 2013 15:59:03 +0000
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