Asadullah Balouch
Like individuals, the country is bankrupt when they are unable to pay their debts and at that time they declare themselves bankrupt. The biggest sign of bankruptcy is that the payments you have to make are high while your income is low and you do not see any source from which you can get your income from time to time or permanently. This is one of the biggest signs of a country going bankrupt from any person to any person. When a country is unable to pay its external debt and interest on it, the country is declared bankrupt. A country is declared bankrupt when it fails to implement international agreements to pay external debts. When a country receives a loan, its return is not paid at all, but in the form of installments and interest is paid with each installment. The biggest sign of a country going towards bankruptcy is that country has foreign exchange reserves situation how fast they are decreasing. In case of bankruptcy, the serious result can be that the goods going out of the country will be seized and your country’s aircraft and ships will be seized in another country. Your industries go into the hands of foreign companies and they pay you just some amonunt of what they make. It increases poverty and people in large numbers become jobless because industries, or campanies are not able to pay them. ‘We could not collect taxes. The taxes that goverment collects, it gives subsidies or discounts to please its voters or different Mafia and groups, we generate expensive electricity, buy expensive gas and make everyone cheap. Indrict taxes increase the burden on the poor and government-sponsored institutions go into loss.

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