Tuesday, November 22, 2022

To be rich like us.

"Army chief general Qamar Javed Bajwa's family members became billionaires during his six-year tenure, amassing assets worth over Rs 13 billion, according to a report published on a Pakistani news website." TOI. "Assets of Gen Bajwa's wife, Ayesha Amjad, went from zero in 2016 to Rs 2.2 billion (declared and known) in six years. The amount does not include residential plots, commercial plots and houses given by the army to her husband." Actually, Bajwa's family has lost over half their wealth in these 6 years because, in 2016, the dollar ranged between 102-104 Pakistani rupees, finishing the year at 102.949 PKR to the dollar, PSL, whereas, one dollar buys 223.3 PKR this morning. xe.com. "Pakistan Army chief General Qamar Ahmed Bajwa's daughter-in-law Mahnoor Sabir became a billionaire just nine days before her marriage while the wealth of her other three sisters remained the same, reported Fact Focus." TN. Entirely appropriate. "In Islam, a mahr is the obligation, in the form of money or possession paid by the groom, at the time of Islamic marriage." wikipedia. Her sisters will get their own mahr when they marry, although the amount may vary. 'Mahnoor' means 'light or radiance of the moon', which surely demands a high obligation. Naturally, "Finance Minister Ishaq Dar...took notice of the 'illegal and unwarranted' leak of the tax records of Chief of Army Staff (COAS) General Qamar Javed Bajwa's family members." Dawn. SAPM on Revenue Tariq Mehmood Pasha has been entrusted to "personally lead an immediate investigation into the violation of tax law[s] and breach of Federal Board of Revenue (FBR) data, fix responsibility and submit a report within 24 hours". Inexplicable kerfuffle about legitimate business wealth in Pakistan. In India, we celebrate accumulation of wealth by rich families. "Gujarat's very own Gautam Adani, the chairman and founder of the Indian multinational conglomerate Adani Group, outdid all the world's top billionaires in terms of wealth creation in 2022 so far," wrote Rahul Oberoi." He is the "third richest individual in the world. His total net worth stood at $136 billion on November 11, 2022, according to the Bloomberg Billionaire Index." With one dollar buying Rs 81.77 this morning, xe.com, conversion to our currency will be vertigo inducing. His wealth doubled in just one year by growing at an eye-watering Rs 16.12 billion per day. ET. He seems to be able to borrow any amount he wants. "The recent acquisition by the Adani Group of cement maker Holcim's India businesses is expected to add another Rs 40,000 crore (Rs 400 billion) to the conglomerate's debt, taking it to approximately Rs 2.6 trillion, and analyst at Credit Suisse showed." TIE. Former cabinet minister Subramaniam Swamy tweeted, "Trapeze Artist Adani now owes Rs 4.5 lakh crores (Rs 4.5 trillion) as NPA (non-performing assets) to banks. Correct me if I am wrong." "May be like with the six airports he has bought he might soon buy out all the banks he owes." Twitter. What a compliment! Pakistanis should stop being jealous about wealth. Only then they will become rich like us. 

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