The new military regime in Pakistan, which overthrew the government on October 12, has begun a campaign to recover
billions in outstanding bank loans. The Armenian political killing has parallels. John Howard reports.
Around the world groups are rising in opposition, with sometimes disastrous results, against crony capitalism, political
corruption, collusion, nepotism and outright theft by political officials. Russia, Armenia, Indonesia, Pakistan, Asia,
some African and South American states, and even the United States, all now have groups who are taking the law into
their own hands.
Analysts say when the leaders or parties in charge of a nation abuse power, the very nature of the abuse begets
carelessness, hubris, and a false sense of security. Resources are frittered away or stolen, opportunities are
squandered, the people made complacent with the end result that all sense of reason is abandoned. Afterall, they say, a
powerful leader or party does not have to negotiate only demand.
In Pakistan, a country of 140 million people, just 322 families and businesses are responsible for $2.7 billion in
unpaid debts to Pakistan's banks.
Mohammed Yaqub, governor of the State Bank of Pakistan, listed deposed Prime Minister Nawaz Sharif as one of the
debtors.
"The government is monitoring all their (Sharif's) assets...this time justice will be blind," Yaqub said. He added that
unpaid bank loans totalled about $4 billion but the new regime will not take over their bankrupt factories but attack
their lifestyles.
Defaulters have been given until November 15 to repay loans or face criminal charges. The military regime also warned it
would publish the list of defaulters after the cut-off date. The list is said to include large numbers of former
politicians and public servants.
Pakistan's coup leader, General Pervaiz Musharraf, has pledged to pursue the corrupt, revive the battered economy and
recover illicit wealth before returning Pakistan to democracy. He says the nation's most powerful used their influence
and connections to prevent earlier court action against them.
Few Pakistanis have seemed anxious for elections, preferring instead to see alleged criminals rooted out.
The background to the Armenian crisis and killings has parallels and is now seen by some analysts as a reaction to
alleged long-term crony capitalism, corruption and collusion by political leaders. The Armenian economy has been in
tatters since 1991.
The killers, who have since given themselves up and released the hostages, said they just wanted all people to live well
and that their victims were "parasites." They have been charged with terrorism.
If the subsequent court case is fair, transparent, and relevant evidence is allowed to be presented, and that's not
guaranteed, much more will be learned about the motives behind what were political killings.
ends