Daily Times

The book “Economic Hitman” shook the world through the revelations of its author. It traced the elaborate plans of global corporate giants from Western world, especially USA, to economically subjugate countries that gained freedom after World War-II. They were aided and abetted by their governments to facilitate this economic colonialism to replace colonial rule dismembered through freedom movements.

“The Master Plan” recognized that the newly freed countries in Africa, Middle East, the Subcontinent and Far East were resource rich, populous and relatively debt free. The mood of these newly freed people was exuberant and their expectations high. The hawks, representing the corporate greed, realized that their prey was ready for slaughter. They charted their road map to befriend the ruling elite, sell them the dream of developing massive projects in infrastructure, energy and other sectors. This would appease the people, enrich the rulers, create a new ruling elite and provide the basis of a debt trap to gain economic domination.

Through institutions created under Bretton Woods Agreement, a basis was laid for institutions like IMF and World Bank to become the lenders to the world. They would finance projects that Economic Hitmen sold to ambitious and often greedy rulers. Pakistan is a lead example of this economic subjugation leading to political control. Dating back to 1953, the US State Department and Pentagon realized that an alliance with the leadership was their best bet. Recently declassified documents include a dispatch from Raleigh Gibson, American Consul General dated 13th February, 1953 reporting on his conversation with Ayub Khan, Commander-in-Chief. It says it all: Ayub Khan made his intentions clear that he would take over power and US went along. It finally happened in 1958.

Maintaining traditional colonies had become unsustainable due the anemic conditions of the masters’ economies caused by bleeding during WW-II.

Throughout this period, the State Department worked in tandem with Economic Hitmen to promote their objectives through IMF and World Bank. Only two political leaders attempted to buck this system, Zulfiqar Ali Bhutto and Imran Khan. Bhutto was thrown out of power by General Zia and executed through a judicial murder. IK was removed from power and is languishing in jail for the last 9 months.

According to the book Economic Hitmen, their strategy was to promote high-value projects in infrastructure, power, petroleum and armaments. These were meant to give a feel-good feeling to the people, lace the pockets of decision makers and create debt for their lenders like IMF. A perfect recipe for all except the people of debt recipients. The military dictators in Pakistan were relatively cautious in borrowing except defense purchases in the name of national security. Presently, half our national debt servicing is for these purchases. However, once the disastrous political duo of Sharifs and Bhutto/Zardari took control the borrowing exploded. Despite our abundant water resources, Benazir first and then Sharifs set up coal and oil-powered projects with the private sector. They gave buyback guarantees at exorbitant prices creating a backbreaking revolving debt burden. Prior to that, Nawaz Sharif made Lahore-Islamabad motorway that gave him commissions to buy Avonfield apartments. The economic hitmen team created our home grown “Political Hitmen”. Nawaz Sharif leads this pack of wolves followed by Zardari.

The Sharifs induction into politics by General Zia had no ideological basis. Zia wanted to replace the political dominance of feudals by traders, who are much more manageable. Since PPP led the opposition, Muslim League platform was usurped to implant Sharifs. Nawaz and Shahbaz have dominated and impacted Pakistani politics for 40 years. Each time they got into power, it was to grab and steal for self-enrichment. They have amassed wealth in billions and transferred it around the globe.

In their present stint in power, Shahbaz is shackled thus far at the Center. However, Punjab is in Sharifs control and they have to find ways to rake in money. Thus, Nawaz has embarked on a journey to China to do a repeat performance of motorway, yellow cab or something similar. He is accompanied by our indigenous Economic Hitman Ishaq Dar and grandson Junaid Safdar, the new Sharif’s money-man. Since his tentative start with Daewoo, which made Nawaz the Prime Minister and landed his Korean counter-part in jail for bribery, Nawaz has come a long way. My reliable sources inform me that he was joined in China by their deceased frontman, Chaudary Sharif’s son Javed, photos included, and Arshad Khan of Faisalabad, now a Hong Kong resident.

Given his penchant for good living, Nawaz, through his web of offshore companies, owns a mansion in the most expensive and exclusive “Strawberry Hills-The Peak” community. Prices range upwards of US$ 30 million. He is in Hong Kong as I write buying more properties. Pakistanis be ready for new announcements of projects to rake in commissions for Sharifs to recover lost income since 2018. Despite our economy being in ICU, Sharifs will profit as their benefactors. These looters and plunders only have only one nemesis, Imran Khan and the Pakistanis who adore him and his bravery. May justice prevail to rid us of these criminals.

The writer is the director of CERF, a non-profit, charitable organisation in Canada. The writer can be followed on twitter @HafeezKhanPU