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THE DEVIL’S CONFERENCE

This story is extracted from Allama Iqbal poetry from ابلیس کی مجلس شوری written in early 19th century. The topic covers the European strategies to run the world.

Context: Democracy strengthened in Europe in late 17th century and in mid of 18th century Karl Marx formed basis of communism and exposed capitalist economy system and European politics and is the same era UK invaded sub-continent.

November 04, 2018. 8.00 AM (By Hasnain Ali) - (Note: content taken from ابلیس کی مجلس شوری written by Allama Iqbal)

DEVIL STARTS THE PROCEEDINGS OF THE CONFERENCE WITH HIS OWN SPEECH.

(Devil starting with high confidence and in high tone)

Well guys, we are doing well in running the affairs of this world, keeping dwellers busy to make this world heaven for themselves with longing frustrations. Now I feel appreciated, the fashioner (Allah) of this is also bent upon its destruction who created it by just saying, ‘’kun faya kun’’ (The world of Be it so).

(devil continues, but his tone changes to utter Arrogance)I have inspired Europeans the dream of imperialism, I have defused the craze for religion. I have taught poor to believe in fate and fortune, whereas I have successfully infused the craze for capitalism.

(Lowering a bit in his tone and with taking a breath) Now everyone has his passions driven from my plans, and there is no one who can identify the real talent and blazing fire hidden in himself and dare to refrain from my plans. (continues in a little questioning tone having a devilish smile) How can someone courage to challenge the devil system when he has been brought up in this system?

FIRST minister:

(Starting with high confidence praising tone) Oh my dear lord, in fact, there is no doubt, our devil system is very stable, and we have further strengthened the system by making masses to believe in their slavishness.

(first minister continues, explaining further the devil system) From the very beginning of their life, we infuse the submissive approach in them, Prayers (Namaz /salah) is just their routine matter with no benefits/outcome to them. In fact, they can’t desire anything from their own will, and if perchance, anyone does, we make sure that it dies or is left unripe.

(continues reporting further on east)We have made mystics (Sufis) and priests (molvi) to believe in imperialism through our persistent had work as well. Qawali was the best dose given to east to control its affairs, otherwise ilm-e-Kalam was no less self-effecting.

(Explaining reason for continued success of devil system in east)Basically, they can only have edge through unsheathed sword of the faithfulness. The muslims are forbidden from Jihad and there is complete absence of hope that one can demonstrate the actual truth, and these pilgrimages or tawaf does not provide them any edge over devil system.

Second minister:

(In a question tone, asking the first minister) Dude, are you aware of the new mischief of the world, whether good or evil, people insistently have started believing in democracy?

First minister: (Again)

(Replying to second minister in a confidence tone and showing complete control over situation) Relax, I am well aware of that, my foresightedness of this world tells me that there is no danger.

Since man had grown a little for his self-consciousness, we had to mask imperialism in this democracy. In democracy, existence of one individual leader cannot effect the imperialism. Be it a national assembly or a kingdom, In our system, only one can become king when he has ability to cast a covetous eye on other’s harvest.

(in an inviting tone addressing to second minister) Have you not observed the democratic system of west? With the brilliant exterior and darker interior, even darker than gengthis’s (changez Khan)

THIRD minister:

(Starts with thanking tone to first minister)Thank you very much for providing me opportunity to express myself, we don’t need to worry if the spirit of imperialism be observed.

(Being little apprehensive in his tone) but I am bit concerned about Karl Marx (A Jewish turned communist) revolution for communism, though he is not claiming to be prophet, but has brutally exposed the concept of capitalism. He is moses (MUSA) without light, he is jesus (EESA) without cross.

(Continues with a little devilish smile and in taunting tone to god believer) I think now day of reckoning for the people of east and the west has come. By the way denial of creator is the ever highest level of dishonesty by human beings.

FOURTH minister:

(Commenting on current order of running the devil system affair) Though at this point of time, we have inspired European to be like ‘’Julius Caesar’’ and European are increasingly coiling round the Africans by heaps and bounds.

(In a questioning tone asking third minister) Can you please explain impact of Karl’s resolution on European imperialism?

THIRD minister: (AGAIN)

(Quickly replying to fourth minister as third minister sees fifth minister waiting for his turn) Karl Marx is just foolish exposing European politics, he is not a man of far-sighted wisdom.

FIFTH minister:

(Starts with appraising the devil) My dear lord, whatever, whenever, you wished something to happen, you have done it. In fact, your fire lends the breath to the stability of world process. You have presented successfully this filthy world as heaven to human beings and upon your instruction man has considered this world to be real Jannah.

(continues with strong conviction in tone)My lord, You are the best, human being consider you as god, and you are the best to know how to play with human beings. Your presented sense of self-respect has ashamed those whose responsibility was to worship Allah, they are standing with their heads hanging-low.

(Now taking on Europe and communism) Even Europeans have lost faith in their sagacity and are perfectly disciplined to you. That idiot (Karl) is only trying to be prophet of Mazdak. (note for reader: mazdakism is considered to be earlier form of communism before islam era)

(Now with the devilish smile) How swiftly time allows the changes, that idiot is like a wild crow trying to compete eagerly will falcon or hyena, LOL. (continues after a little pause) His fanaticism will torn his prophecies to shreds soon.

(Changing to next topic) Though we were considering the devil system to be inferior in front of Allah’s system, but now are running the affairs of the world successfully. We are going to turn this world into the topsy-tury, future of this world is very dreadful shockingly and horrifyingly unpleasant, (continues with the content tone and devilish smile) even mountains, meadows or river have started trembling with overwhelming awe.

DEVIL TAKES BACK THE CHARGE OF CONFERENCE AND START HIS SPEECH TO CONCLUDE THE CONFERENCE.

(DEVIL SPEECH IN PARLIAMENT 1ST PART)

(Starts in high confidence tone) Absolutely, I am the commander in chief for everything, be it scent, hue, earth, sky or moon. All political and religious leaders of the world can turn to be mad at my one call. East and west will witness the blessings of our system furthermore as we will warm up the European nations further.

(Devil presenting his future threat analysis to his ministers) Communists are unfortunate poor, distracted in their minds and incoherent in their speech. I am not much concerned about Karl, he considers the devil system to be weak enough, let him try to do whatever he wants. Believe in gods is human nature, this can’t be changed by mazdakite logic. (Continues after a little pause and his voice get little tensed) We have only threat from Muslims as there is still spark of ambition in their ashes. They have few in them who perform their ablution with the tears in namaz-e-tahajud, and they also knows the inner secrets of time revealed by Allah(Quran). Islam is real threat to our devil system not the mazdakism.

(DEVIL SPEECH IN PARLIAMENT 2ND PART)

(Devil continues with after the short break presenting his future threat analysis)I know the Muslims are in their age of dark night and practically believes in same religion capitalism and are not learners from lessons of Quran. But I have apprehensions due to demand of present age, shriah of Prophet (Muhammad) should come practices again one day.

(With strong conviction) Be aware, hundreds of time be aware, of the law of prophet, it protects woman honour, it tests men’s capacities, It rears of worthy man. It’s a death warrant to all kind of slaveries and remove all kind of difference between monarchs, master of beggars in the society. It purifies wealth from all kind of pollution and makes the poorer trustee of wealth. If his law prevails, It will be a greatest revolution and there will be no crowned head but everything belongs to Allah.

(Presenting a solution to the threat identified) Better, if we continues successfully to keep this law hidden from the world’s eye and keep Muslims deprived of inner conviction. Keep Muslims busy and entangled in the metaphysical theology and interpretation of the book of God.

(DEVIL SPEECH IN PARLIAMENT 3RD PART)

(Devil continues after a break in a wishing tone) May the dark night of that Jesus (Hazrat Esa) not ever turned to bright, who will eventually break the devil system.

These idols of worship carved by metaphysical theology should be sufficient for Muslims to believe in, keeping them away from the character that their own.

(Turns again to presenting a solution to the threat identified) Our safety lies in that Muslims remains slaves till doomsday, renouncing this transitory world for other sake. Keep them busy in a kind of mysticism and poetry which should not let the hidden secret reveal (the actual game of life) to his eyes. Keep them busy and well absorbed in khan-kahi system and make sure they continues grow a stonger believe in their monastic disposition.

(Devil ending on low confidence in an apprehensive tone) Every moment do I dread the awakening of this Muslims, whose religion is, In reality, nothing short of taking account of the universe.

Asad Umar visited the Stock Market premises. All the brokers were jumping with joy. Not a single suggestion by the brokers was worthy of saying that they knew what to demand of the Finance Minister. All was complaints. Complaints about low volumes. Complaints about market being in a disastrous period. Complaints about everything minus the solutions. When the patient cannot describe his illness with details, no Doctor can fix the ailment.

The only good thing was that the losses can be carry forwarded to the coming years. That is great. But those losses can only be offset by the profits. If there are no profits being generated, how can losses being carry forwarded have any benefits.

The root cause of the problem is lack of participation in the markets. 10 years ago we had the same number of investors, around 250,000 to 270,000 and today we have the same. This is the biggest cause of low volumes amongst many other reasons. Iran being a sanction ridden country with 40% of our population has 3.7 million stock market investors. We have the lowest Market Capitalization to Investors Ratio in the world. Or GDP to investor ratio. Or population to investor ratio. No matter which we look at it. We are doomed.

The best solution to increase the number of investors in our markets is not by holding seminars in every city like the brokers do, it’s a start but not the solution. The solution is to link every Commercial Bank account with a brokerage account and give impulse based access to account holders for investing in the markets. With 30 million bank accounts in Pakistan, we can create at least 1 Million new investors of all sizes in the brokerage industry. Also by cutting the new account opening process by days into minutes. It takes minutes to open up a brokerage account in any developed market. Not even hours and definitely not days or weeks like Pakistan.

Government makes money on taxes from the stock markets. Capital Gains Taxes. When there are no capital gains, there are no taxes for the government. The best thing to do right now is to reduce the CGT to entice people to invest in the markets. This is not the entire solution but it will definitely create a surge in volumes.

Create a government support fund for the stock market. Why? Because the interest of the GoP ( Gross Operating Profit) is directly attached to the stock markets like no other country. GoP owns billions of dollars of stocks through its listed companies on PSX (The Pakistan Stock Exchange). And those companies play the biggest role or have the highest weightage in the Index of PSX. Meaning if these shares can be stabilized through buying by a government fund, the decline of the index can be somewhat controlled. America and 7 other countries around the world did the same thing after the 2008 financial crisis.

This stock market is going down because of two reasons. One, the momentum broke and two the bad economic picture surfaced right after the momentum broke. If anybody tells you that this market is down only because of political upheaval then I would beg to counter their argument by saying that they do not know how the markets work. Political upheaval absolutely drops a market but it also creates a buying opportunity with that drop and the markets go back up IF everything else in the economy is stable.

We have nothing stable. We have a spiraling out of control Current Account Deficit. Lowest amount of foreign reserves. Out of control Circular Debt of the most index heavy listed oil companies. A directionless currency with further depreciation expected. Rising inflation. Higher interest rates, and higher interest rates are the biggest enemy of any capital markets except a few listed lending institutions. Higher oil prices in a country where most of the energy is based on Fossil Fuel, that most exporters are dependent upon and higher energy prices will cut into the profits of the listed companies.

RIGHT / WRONG CAN BE DEBATED TILL THE END OF LIFE.

What is needed to be done to fix our markets is what we need to talk about. There is no quick fix. None. If anybody thinks that without capital markets reforms and without reforms at the SECP (Securities and Exchange Commission of Pakistan) and The PSX along with policy support from the government, this market is going to turn around, they are living in a self-created fantasy.

Especially if anybody thinks that a visit by a Finance Minister to a stock exchange is the ONLY solution to the problem, then their fantasy is a bigger one than of many in Pakistan. Visit with a concrete plan of action could have been the solution. Not a question answer session. Q&A (Questions and Answers) time is gone. Long ago. QA time is here. QA meaning Quick Action. Immediate measures time. Time to save our markets with concrete policies.

Author: Hasnain Ali

A quick review of KSA bailout package for pakistan

October 25, 11.00 PM (by Zain Ali)

What is KSA giving to Pakistan?

Well, partly its interest free deposit and partly it’s an oil program for which we will pay later. KSA will deposit $3 billion dollars for a year with Pakistan that may help us stabilize our currency and take the pressure of Balance of Payments. As per my understanding as the year will end and repayment of deposit is due, we have an option to mutually agree upon to further extension of period up to 3 years.

In addition to interest free deposit, KSA is extending the credit terms of one year up to $3 billion against oil procurement. This will release pressure on Current Account Deficit (CAD) as oil payments is one of the biggest CAD contributor.

How Pakistan can get benefit from the arrangement?

We are in financial crunch at the moment, the above arrangement with KSA will help us for “Bought Time Period” for at least 3 to 5 months or may be up to one year. This arrangement is just like an emergency oxygen to the patient, but not the cure. Our economy problem is like CANCER while the deal is no more than Panadol. During this ‘’Bought Time Period’’, Pakistan needs to take billions of steps in right direction to cure the its economy like having a poor favoring IMF deal, putting emphasis increase in export, increase remittance, better tax recovery, recovery of looted wealth and so on as you may count to infinity.

What is hidden inside deal?

We have been told by our government that the deal is free of cost. My fellows, believe me there is nothing free in this world, we need to know what is hidden under the table. The point needs to be raised in parliament, senate and in front line media.

A smart Pakistani should not be overly optimistic that he/she crosses the border over from optimism into the silliness territory and then we refuse to cross back into reality again. We should say ‘’HOPE NOT OUT’’ in this situation and give a fair time to newly elected government.

About Author: Zain Ali in an ACCA student from Pakistan and is a freelancer columnist.

Pakistan IMF & China, A love triangle.

October 21, 2018 - 11.00 AM

Just what "If" The IMF indirectly says no to us. How can they do that and why would they do that. How and why are the two most important question we need to discuss?

Let's talk about why first: Why would they do that? The answer for this lies not in conspiracy theories or their love or supposed hatred for us or anything even remotely close to it. They could do that because the main sponsor or the largest stakeholder is them, and around 16% of the voting power lies with America and the other majority of 35% lies with its allies. So what America says, actually goes in the decision making process. IMF is not a democratically governed institution where every party has just "One Vote" and the process of decision making is balanced.

Now the questions comes to mind that why would America want to meddle into such a small loan from IMF to Pakistan? Possibly about $10 to $12 billion dollars.

Well, the reason is because there are two elephants fighting in the yard and we are the ants being crushed by their heavy feet. The two elephants are America and China. And we happen to be the ant, Pakistan. America and China are fighting an economic war right now. With tariffs and politically inclined economic war statements. One wants to increase their exports into the other country and the other one wants the same.

America wants to punish China and "Its Friends" And we are the most overt friends of china. The best way to punish China is to punish Pakistan by bringing in the CPEC issue. And the best way to punish Pakistan is to put conditions on it that they can not meet, right when they need the help. America wants to know the exact workings of the CPEC structure. Why? Because it wants to point out mistakes or even create issues that do not even exist in CPEC, to make kit controversial.

The best way to attack China is to attack Pakistan. And how does America indirectly through The IMF attack Pakistan? By telling Pakistan that since we are involved in CPEC and since there are loans on us from China, first, The IMF can ask for those contractual agreements to be made public, perhaps something we do not want to do because of financial or national security point of view, or secondly, The IMF can create an environment of uncertainty by issuing statements that the talks with Pakistan for the loan are hitting a wall. Thirdly they can accuse us that we would be paying China its loan back from The IMF loan.

How can The IMF create havoc for Pakistan so our relationship on one side can be damaged with China and on the other side make the Chinese project of BRI, or The Belt & Road Initiative, which is the parent project of CPEC, can be made to look bad in the world's eyes by creating controversies about it. Making China look like it is taking advantage of Pakistan like countries, small ones, so no new countries join BRI in the future.

The IMF can create such stringent conditions in addition to their normal conditions that we HAVE TO back away because if we do not, it would put our economy in perils.

So can it happen? Yes there is huge possibility. How can Pakistan mitigate this IF it happens? Well we need to have a Plan B. A plan that The IMF should also know or have an idea about that if they put too much pressure on us, we have other options.

I pray to Allah that we the Pakistanis become wiser and so does our Government. It's about time that we stop becoming apologetic about who we are and stand our ground, with The IMF or The Americas or even China. It is simple as that and let's keep it that simple.

Author: Hasnain Ali

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