Riyasati Ashrafiya (State Aristocracy) grabs loans and distorts the economy
‘Qarz burhao, mulk bigarho’ By Huzaima Bukhari and Dr Ikramul Haq [This article first appeared in the Business Recorder of August 30, 2013.] In 1997 the slogan of Pakistan Muslim League (Nawaz) was ‘Qarz Utaro, Mulk Sanwaro’ [retire debt, adorn country], which is reversed in 2013 as all efforts are underway to increase public debt – both domestic and external. The new slogan appears to be ‘Qarz Burhao, Mulk Bigarho’ [increase debt, damage country]. People of Pakistan have yet not forgotten the fate of ‘Qarz Utaro, Mulk Sanwaro’ Scheme announced by Nawaz Sharif on February 23, 1997 along with