Shabbar Zaidi believes Pakistan has gone bankrupt, says govt making false claims





Shabbar Zaidi believes Pakistan has gone bankrupt, says govt making false claims






















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Better to simply accept {that a} nation’s economic system has gone bankrupt and discover options fairly than deceive people who it’s doing nicely, says Zaidi

By Web Desk

December 16, 2021

Brushing apart the federal government’s tall claims about financial achievements, Shabbar Zaidi, the previous chairman of the Federal Board of Revenue (FBR), has expressed the assumption that the nation has gone bankrupt.

Zaidi made the remarks throughout his current speech on the Hamdard University.

The former FBR chairman, nevertheless, took to Twitter to say that “only three minutes of his speech have been cherry-picked” and circulated. He stated he spoke concerning the answer as nicely.

Using the accounting time period “going concern” (which assumes that an entity has no plans to liquidate or cut back the scale of its operations in any important approach, as per ACCA Think Ahead) as a reference level for the viewers, he stated that he believes the nation, in the meanwhile, has gone bankrupt.

Zaidi added that it’s higher to simply accept {that a} nation’s economic system has gone bankrupt and discover options fairly than deceive individuals by claiming that it’s doing nicely.

However, in a thread of tweets, Zaidi clarified that his phrases had been taken out of context and had been misreported. While agreeing that he did say that there are problems with chapter and going concern, Zaidi identified that we should take a look at the answer too.

“What I said was with a basis and conviction. I only want to say that [the] whole speech is to [be] read and listened [to],” he added. 

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