I hope Pakistan Defaults!

Yes this is my wish.  

Because 99% of Pakistan population is already bankrupt. My google search for poverty in Pakistan brought me to this link: 

The World Bank (WB) has estimated that poverty in Pakistan has increased from 4.4 per cent to 5.4 per cent in 2020, as over two million people have fallen below the poverty line.

Using the lower-middle-income poverty rate, the WB estimated that the poverty ratio in Pakistan stood at 39.3 per cent in 2020-21 and is projected to remain at 39.2 per cent in 2021-22 and might come down to 37.9 per cent by 2022-23, reported The News International.

Moreover, by using the upper-middle-income poverty rate, the global financial institution estimated that the poverty stood at 78.4 per cent in 2020-21 and it would be standing at 78.3 per cent in 2021-22 and is projected to come down to 77.5 per cent in 2022-23.

As per the Bank's estimates, 40 per cent of households suffered from moderate to severe food insecurity in Pakistan.

The image search of the same term also shows some horrible state of affairs.

The efforts of the elites of Pakistan to get the IMF loan and hence save Pakistan from defaulting on its obligations is to keep their perks and benefits running.

ISLAMABAD — 

Pakistan’s military chief has reportedly sought help from the United Sates in securing the early disbursement of an International Monetary Fund loan as the high price of energy imports pushes the cash-strapped South Asian nation to the brink of a payment crisis.

General Qamar Javed Bajwa spoke by phone to Deputy U.S. Secretary of State Wendy Sherman earlier this week and raised the issue, government sources told VOA late Friday on condition of anonymity.

Pakistan last week reached a staff-level agreement with the IMF for the revival of a multibillion-dollar bailout package. However, the deal is subject to approval by the lender’s board, which is due to meet in late August. Islamabad is expected to get about $4.2 billion under the loan program, starting with an initial tranche of about $1.2 billion.

The real way to get Pakistan on path of prosperity is to do the following steps:

1. Cut the defence budget to 1/4 that helps in the research and development of defence technology and indigenous defence industry
2. That helps for the up keep of the nuclear weapons and their delivery
3. Small government with extreme austerity measures that cut the perks and benefits of the ruling junta
4. 20%  tax rate on wealthy
5. Reviving the agriculture and becoming a foremost nation in organic farming.

But all of the above is never going to happen so I hope Pakistan Defaults and the ruling junta is at least devoid of their free lunch.