ISLAMABAD, April 22: Representatives of various non- governmental organizations (NGOs) and the affected people of World Bank and IMF-sponsored projects staged a protest demonstration in front of the World Bank on Thursday.

The protesters included the affected people of Tarbela Dam, Ghazi Barotha and Left Bank Outfall Drainage projects besides activists from ActionAid Pakistan, SDPI, Sungi Development Foundation, Oxfam GB and WTO Watch Group.

The protesters staged the demonstration to register their concerns on the eve of the 60th anniversary of Bretton Woods Institutions. They carried placards and banners inscribed with slogans like, 'WB and IMF who gave you permission to operate in Pakistan', 'Sixty years are enough, please wind up your business' and 'We will never allow privatization of water'.

"The 50 years of operation of these institutions have proved that we have not benefited at all but we have lost our economic and political control over the free decision-making process in the country," they said.

Muhammad Ilyas adds: Speakers at a seminar urged the developing countries to resist the policies of World Bank, IMF and Asian Development Bank, which, according to them, functioning as proxies for the United States and other countries of the North.

The seminar on "60 years are Enough" was organized by three groups of civil society organisations. It was observed that the G-8 nations possess 49 per cent of the votes within IMF and 48pc within the World Bank. "Thus, these two bodies have pursued only those policies in the developing world, which benefit the economy of US etc."

While all the countries, without any exception, experienced adverse effects by following the policy prescriptions of these bodies, those countries which ignored their dictates emerged as the models of development, the speakers said.

Abid Suleri of Oxfam cited a letter displayed on the ADB's website in which the Pakistan's finance minister offered total compliance with the former's conditions both in present and future.