Connect with us

Expert Reviews

Pakistan Army Worth Whopping $20 Billion; But Civilian Government Bankrupt



The Pakistan Army officers are most likely to stay unaffected by the massive economic crisis that Islamabad is going through. Pakistan Government has sought a bailout package of $7 billion from International Monetary Fund (IMF), but the Pakistan Army is least bothered and affected as they have access to over $20B according to the Sunday Guardian report.

According to the news report, the Pakistan army is comfortably sitting on assets and businesses whose worth is estimated to be more than $20 billion. Pakistan Army has never faced an economic recession, while the extent of financial control that the Pakistan military exercise is just astonishing.

The details of the assets owned by the Pakistan army were officially shared by the Pakistan Defence Ministry in July 2016 with members of the Pakistan Senate. These include 50 housing projects that are run through several foundations, oil and gas drilling projects, stud farms, an aviation company and a diesel producing company, which has tied up with the world’s largest US-based oil and gas company, ExxonMobil.

All these and many more such corporations, whose capital is generated by the top generals of Pakistan army over the years, are controlled by the “Army Welfare Trust” (AWT), a conglomerate that came up in 1971.

According to report, most of these companies which are controlled by the army indirectly through funds have at least 120 entities that are literally into every business – from phosphorus, aviation, sugar and apparels to academic institutions and even security guards.

“Many of these companies are used as shell companies and as a front for getting kickbacks from the arms dealers. They are protected by any ‘external interference’ from the Civil departments. Prime areas of the country are under the control of the Defence Housing Authorities (DHAs) in Karachi, Lahore, Rawalpindi-Islamabad, Multan, Gujranwala, Bahawalpur, Peshawar and Quetta. These are the fronts used by serving and retired generals to acquire properties across the country,” an official said.

Other News at EurAsian Times




S400-VS-F35 S400-VS-F35
Americas9 hours ago

Is The UAE Threatening To Opt For Russian Su-57 Jets Over US’ Stealth F-35 Warplanes??

The United Arab Emirates (UAE) has warned that if the US refuses to supply it with F-35 and MQ-9 Reaper...

india-russia india-russia
Featured10 hours ago

Indian, Russian Navy Hold PASSEX Exercise In The Eastern Indian Ocean Region

On the occasion of Navy Day, the Indian Navy is conducting a passage exercise (PASSEX) with the Russian Navy in...

Pakistan-Turkey-Relations Pakistan-Turkey-Relations
Featured13 hours ago

After Backing Pakistan on Kashmir, Is Turkey’s Erdogan Hiring Syrian Mercenaries To Fight In The Valley?

For some time now, Turkey has been making attempts to grow its influence among the Muslims in South Asia in...

iran-israel iran-israel
Featured14 hours ago

Assassination Of Top Iranian Scientist Will Complicate Relations Between The US & Iran: Joe Biden

Joe Biden, the next President of the United States said the assassination of Iranian nuclear scientist Mohsen Fakhrizadeh is likely...

Asia Pacific15 hours ago

From Rafales, Su-30 MKIs & Tejas, Why Next-Gen BrahMos Missile Can Be A Game-Changer For The Indian Air Force?

Amid the border row with China, the Indian armed forces successfully test-fired the BrahMos supersonic cruise missiles in the past...

India-Pak-War-1971 India-Pak-War-1971
Asia Pacific17 hours ago

What Did Indira Gandhi Tell Naval Chief Before Indian Navy Bombed Karachi Port In 1971 War?

India marks 4 December as Navy Day to commemorate the Indian Navy’s attack on the Karachi port during the 1971...

Asia Pacific18 hours ago

Indian Navy To Counter Chinese Swarm Drones With New Guns That Can ‘Smash’ UAVs

Countries across the globe are looking for innovative ideas to check the menace of small drones or small unmanned aerial...

Featured19 hours ago

Eurofighter Typhoons ‘Soar & Roar’ In Qatar As Royal Air Force Conducts Drills With Emiri Air Force

The British Royal Air Force and Qatar Emiri Air Force, for the first time in history, have come together for...

imran-khan imran-khan
Asia Pacific19 hours ago

Not India, Former ISI Chief Hints At UAE, Saudi Arabia Being The Biggest Threat To Pakistan

Durrani said that Pakistan is not threatened by India but is mired with its internal problems, including political instability and...

EurAsian Region22 hours ago

Russia, Pakistan To Be First Buyers Of Turkey’s Mobile Anti-Drone System That Can Smell UAVs From 5000 Meters

As Turkey is gradually emerging as a drone superpower, its key allies Russia and Pakistan have shown tremendous interest in...