If you are to buy the official spin that “Finance Minister Shaukat Tarin was working tirelessly to help the country in a tough time (and did wonderful job doing it)”, does it not follow that his stepping down “to focus on his private business interests” kind of shows what he holds more important.
Of course he was always working for his personal business interests and those of IMF/WB — WB, by the way, is his business partner and joint owner of Silk Bank:
“In March 2008, a consortium comprising the International Finance Corporation (IFC), Bank Muscat, Nomura and Sinthos Capital, led by Tarin and another Pakistani banker, Sadeq Saeed, bought an 86.55 per cent stake in Silk Bank for about $213 million.”
(IFC is the private investment arm of the World Bank)
This also means a government bailout of Silk Bank is on the way so in effect you and I will be borrowing money from WB to pay WB (Silk Bank). And what do we get in return? Liability to pay the principal and interest for this bailout…
P.S. Oh, and don’t forget the IMF loan of $11.3 billion (plus interest) and the IMF-enforced ‘conditionalities’ that you are enjoying. Make sure you send a “Thank You!” note to Tarin 😉