How did Pakistan's economy perform during Imran Khan's era?

[Waseem]

Agreed. Has PTI stopped borrowing? What wealth have they created with their borrowing? Where are we in terms of poverty, unemployment and inflation?

Currency devaluation has increased the loan amount and yes PTI is still borrowing, wealth creation was NEVER going to happen within a year with first year spent just for survival and IMF packages (with strict terms) and obviously Covid hit them within year and a half. Critics of course have licence to kill with high inflation and average person isn't expected to understand reasons behind inflation but fact is we have been hit with one of the worst Economic meltdowns in decades and it hugely impacts investment as well as exports. Even worst our remittances are likely to take huge hit due to massive job losses around the world (especially in Gulf).
So within 2 years you inherited the Economy in disastrous situation where you were about to default on loans, restructuring of Economy due to IMF demands, huge currency devaluation (was on the cards after Dar's artificial short cuts) and now Covid.
Let's see how much damage control can be done in next 3 years; time running out fast for government unfortunately.

 

[the Great Khan]

Currency devaluation has increased the loan amount and yes PTI is still borrowing, wealth creation was NEVER going to happen within a year with first year spent just for survival and IMF packages (with strict terms) and obviously Covid hit them within year and a half. Critics of course have licence to kill with high inflation and average person isn't expected to understand reasons behind inflation but fact is we have been hit with one of the worst Economic meltdowns in decades and it hugely impacts investment as well as exports. Even worst our remittances are likely to take huge hit due to massive job losses around the world (especially in Gulf).
So within 2 years you inherited the Economy in disastrous situation where you were about to default on loans, restructuring of Economy due to IMF demands, huge currency devaluation (was on the cards after Dar's artificial short cuts) and now Covid.
Let's see how much damage control can be done in next 3 years; time running out fast for government unfortunately.

dont expect mega growth in the next three years..the best result will be the stabilisation of the economy..

 

[Thunderbolt14]

No, PML-N economic policies were not aimed at ending poverty or unemployment. The economic decisions taken by the current government are even worse as we are seeing for the first time in the history of Pakistan negative growth. We continue to see high borrowing and little or no wealth creation. Industrialization continues to take a hit, exports continue to drop and GDP continues to decline. Inflation is at an all time high and currency devaluation has had a negative economic impact resulting in our outstanding debt obligations to increase in local currency with no increase in exports. This has also led to an increase in industrial costs, also mentioned in my detailed post above.

You sure about that bud? I’m no PTI fan but by all means and purposes it is NOT the first time we are experiencing negative growth, especially once you factor in the pandemic.

Our economy has been tanking repeatedly for decades now. There is more wealth creation than before, investment rises, remittances rise, and industries have begun exporting more. Inflation is not a metric by which to deduct the performance of a 2-year old government, any economist can tell you it is symptomatic of much deeper causes rooted in the economic decisions of at least 5-10 years past. (Please note that anyone can fix the currency to whatever they want as long as they have the money to back it, and Nawaz did - in our forex reserves). If anything, the rupee was beginning to do better better covid hit - your post indicates a lack of understanding of the issues involved in our current economy and how it has been evolving.

Might I ask your econ background?

 

[Abdullah719]

PM directs cabinet to bring down prices of essential items

(Karachi) Information Minister Shibli Faraz has said that the prime minister has directed the cabinet to devise strategy to lower prices of essential items.

Addressing a media briefing after cabinet meeting in Islamabad on Tuesday, he said the cabinet was given detailed briefing about stocks of wheat and sugar in the country. “The federal cabinet members decided to launch crackdown on profiteers and hoarders to lower price of essential items.”

Faraz said wheat prices are higher in Sindh due to provincial government’s reluctance to release the crop.

He maintained that the country’s economic indicators are improving and showing positive signs. He added Pakistan’s foreign exchange reserves have reached to 20 billion dollars.

He said that foreign remittances are increasing while the current account deficit is under control for the last two months. He said the government’s effective policies helped take economy in the right direction.

https://www.brecorder.com/news/40023983/pm-directs-cabinet-to-bring-down-prices-of-essential-items

 

[uberkoen]

You sure about that bud? I’m no PTI fan but by all means and purposes it is NOT the first time we are experiencing negative growth, especially once you factor in the pandemic.

Our economy has been tanking repeatedly for decades now. There is more wealth creation than before, investment rises, remittances rise, and industries have begun exporting more. Inflation is not a metric by which to deduct the performance of a 2-year old government, any economist can tell you it is symptomatic of much deeper causes rooted in the economic decisions of at least 5-10 years past. (Please note that anyone can fix the currency to whatever they want as long as they have the money to back it, and Nawaz did - in our forex reserves). If anything, the rupee was beginning to do better better covid hit - your post indicates a lack of understanding of the issues involved in our current economy and how it has been evolving.

Might I ask your econ background?

I'm sure about that. The data is available to the public and has also been referenced in my earlier post.

and I'm not sure where you're getting your information from as there is no data or reference to back up your claims however you are not correct. Exports have been declining year on year for the past few years. You can see this on the Pakistan Bureau of Statistics website.

My post might indicate a lack of understanding for PTI fans as the facts are difficult to digest however, unfortunately I can't change the facts. Moreover, the discussion initiated from people saying the economy is doing better under PTI which is not the case and that is what I have proven.

 

[Waseem]

dont expect mega growth in the next three years..the best result will be the stabilisation of the economy..

Yep...that's why I said damage control rater than extra ordinary growth because the International environment is one of the worst in decades due to Covid.

I can't believe people are talking about our Growth at a time when countries are expecting upto 20% reduction in Growth; we spent the first year and a half on acquiring IMF package and implementing changes as per their requirements. How on earth do people expect massive growth in such conditions? As I said, average person doesn't understand and don't care about all this so PTI government need to come up with something amazing to balance the long term plans and short term relief to people.

 

[the Great Khan]

Yep...that's why I said damage control rater than extra ordinary growth because the International environment is one of the worst in decades due to Covid.

I can't believe people are talking about our Growth at a time when countries are expecting upto 20% reduction in Growth; we spent the first year and a half on acquiring IMF package and implementing changes as per their requirements. How on earth do people expect massive growth in such conditions? As I said, average person doesn't understand and don't care about all this so PTI government need to come up with something amazing to balance the long term plans and short term relief to people.

yes. unfortunatley they arent as shameless as the PMLN and the PPP so will find it difficult with our awaam. One hopes that before elections they have enough to convince people. They need to up their game on promoting things like Ehsaas and their other social programes. But then you need to pay the media mafia too. We need to face the reality that NS has created a fiefdom of corruption in the country and until this is taken down we will never progress. A root and branch destruction of the PMLN is required. And NS needs to be removed from the scene to such an extent that he never raises his traitorous head again.

 

[Syed1]

LSM picking up pace. This analyst agency predicts 4-5% GDP growth for the year. The government itself predicted 2%, lets see if it pans out.

4-5% would be epic. We need to get a sustained period of 6-7% for 10 years.
<blockquote class="twitter-tweet"><p lang="en" dir="ltr">LSM up 5.02% YoY, 9.54% MoM. Don’t forget Muzzammil’s Desk (Tangent Capital Advisors) FY21 growth forecast of 4-5%.</p>— Muzzammil Aslam (@MuzzammilAslam3) <a href="https://twitter.com/MuzzammilAslam3/status/1313890978990874627?ref_src=twsrc%5Etfw">October 7, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[Syed1]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Cement's highest ever dispatches,sale of 5.21 m tons in Sept 2020.<a href="https://twitter.com/hashtag/PakistanMovingForward?src=hash&ref_src=twsrc%5Etfw">#PakistanMovingForward</a> <br>Under leadership of my greatest PMIK <a href="https://twitter.com/ImranKhanPTI?ref_src=twsrc%5Etfw">@ImranKhanPTI</a> <br>Well done <a href="https://twitter.com/Hammad_Azhar?ref_src=twsrc%5Etfw">@Hammad_Azhar</a> sb. <a href="https://t.co/XIQBqG7wjN">pic.twitter.com/XIQBqG7wjN</a></p>— Aliya hamza malik (@aliya_hamza) <a href="https://twitter.com/aliya_hamza/status/1314267576709648390?ref_src=twsrc%5Etfw">October 8, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[Syed1]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Govt approves establishment of 3 new <a href="https://twitter.com/hashtag/SEZs?src=hash&ref_src=twsrc%5Etfw">#SEZs</a> in <a href="https://twitter.com/hashtag/Islamabad?src=hash&ref_src=twsrc%5Etfw">#Islamabad</a> <a href="https://twitter.com/hashtag/Punjab?src=hash&ref_src=twsrc%5Etfw">#Punjab</a> <a href="https://twitter.com/hashtag/Sindh?src=hash&ref_src=twsrc%5Etfw">#Sindh</a><br><br>In an effort to boost investment & economic activities in country, govt has approved establishment of 3 new Special Economic Zones SEZs 1 each in Islamabad Punjab & Sindh taking total number of SEZs to 20. <a href="https://t.co/CTjT1SIPxw">pic.twitter.com/CTjT1SIPxw</a></p>— Developing Pakistan (@DevelopmentPk) <a href="https://twitter.com/DevelopmentPk/status/1314171547024850945?ref_src=twsrc%5Etfw">October 8, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[MenInG]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Govt approves establishment of 3 new <a href="https://twitter.com/hashtag/SEZs?src=hash&ref_src=twsrc%5Etfw">#SEZs</a> in <a href="https://twitter.com/hashtag/Islamabad?src=hash&ref_src=twsrc%5Etfw">#Islamabad</a> <a href="https://twitter.com/hashtag/Punjab?src=hash&ref_src=twsrc%5Etfw">#Punjab</a> <a href="https://twitter.com/hashtag/Sindh?src=hash&ref_src=twsrc%5Etfw">#Sindh</a><br><br>In an effort to boost investment & economic activities in country, govt has approved establishment of 3 new Special Economic Zones SEZs 1 each in Islamabad Punjab & Sindh taking total number of SEZs to 20. <a href="https://t.co/CTjT1SIPxw">pic.twitter.com/CTjT1SIPxw</a></p>— Developing Pakistan (@DevelopmentPk) <a href="https://twitter.com/DevelopmentPk/status/1314171547024850945?ref_src=twsrc%5Etfw">October 8, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

The infrastructure needs for such initiatives need to be given proper consideration too.

 

[Bewal Express]

LSM picking up pace. This analyst agency predicts 4-5% GDP growth for the year. The government itself predicted 2%, lets see if it pans out.

4-5% would be epic. We need to get a sustained period of 6-7% for 10 years.
<blockquote class="twitter-tweet"><p lang="en" dir="ltr">LSM up 5.02% YoY, 9.54% MoM. Don’t forget Muzzammil’s Desk (Tangent Capital Advisors) FY21 growth forecast of 4-5%.</p>— Muzzammil Aslam (@MuzzammilAslam3) <a href="https://twitter.com/MuzzammilAslam3/status/1313890978990874627?ref_src=twsrc%5Etfw">October 7, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

IA they are right. Most of the World economies are in recession

 

[Syed1]

4th straight month with over $2b in remittances.

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Remittances secured $2.3bn (up 31%) in September. Again embarrassment for those who claimed higher remittances are due to massive lay-offs in Gulf. Learn to differentiate between economics & gossips! <a href="https://twitter.com/ImranKhanPTI?ref_src=twsrc%5Etfw">@ImranKhanPTI</a></p>— Muzzammil Aslam (@MuzzammilAslam3) <a href="https://twitter.com/MuzzammilAslam3/status/1315512682359992320?ref_src=twsrc%5Etfw">October 12, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>


Crisp slap on the faces of patwaris like [MENTION=107753]uberkoen[/MENTION]

 

[uberkoen]

4th straight month with over $2b in remittances.

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Remittances secured $2.3bn (up 31%) in September. Again embarrassment for those who claimed higher remittances are due to massive lay-offs in Gulf. Learn to differentiate between economics & gossips! <a href="https://twitter.com/ImranKhanPTI?ref_src=twsrc%5Etfw">@ImranKhanPTI</a></p>— Muzzammil Aslam (@MuzzammilAslam3) <a href="https://twitter.com/MuzzammilAslam3/status/1315512682359992320?ref_src=twsrc%5Etfw">October 12, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>


Crisp slap on the faces of patwaris like [MENTION=107753]uberkoen[/MENTION]

Nice! How has IK government influenced an increase in remittances though? Is it down to anything the current government has done or is it due to some other reason?

Let me help you

https://www.reuters.com/article/us-pakistan-economy-remittances-idUSKCN25D1AT

https://www.khaleejtimes.com/business/local/pakistan-receives-record-231b-remittances-

https://profit.pakistantoday.com.pk/2020/08/17/july-remittances-soar-to-record-2-76bn/

https://profit.pakistantoday.com.pk/2020/09/14/remittances-exceed-2bn-for-third-month-in-a-row/

Reading all of these articles makes it seem like it has nothing to do with IK's policies but due to various other external factors including COVID, suspension of flights, economic situation of other countries etc. Then again, they may all be wrong so could you please let patwari's like me know what PTI has done that has had this impact?

 

[Syed1]

Nice! How has IK government influenced an increase in remittances though? Is it down to anything the current government has done or is it due to some other reason?

Let me help you

https://www.reuters.com/article/us-pakistan-economy-remittances-idUSKCN25D1AT

https://www.khaleejtimes.com/business/local/pakistan-receives-record-231b-remittances-

https://profit.pakistantoday.com.pk/2020/08/17/july-remittances-soar-to-record-2-76bn/

https://profit.pakistantoday.com.pk/2020/09/14/remittances-exceed-2bn-for-third-month-in-a-row/

Reading all of these articles makes it seem like it has nothing to do with IK's policies but due to various other external factors including COVID, suspension of flights, economic situation of other countries etc. Then again, they may all be wrong so could you please let patwari's like me know what PTI has done that has had this impact?

If it's not due to IK government then why were remittances stagnated at $19b during the last three years of your god Nawaz Sharif's government and why did it increase to $21 and $23b in first two years of PTI.



Chalo shabash patwari time for you to run.

 

[uberkoen]

If it's not due to IK government then why were remittances stagnated at $19b during the last three years of your god Nawaz Sharif's government and why did it increase to $21 and $23b in first two years of PTI.



Chalo shabash patwari time for you to run.

Can you stop deflecting and tell me which policies exactly have resulted in the increase in remittances? And while you’re at it can you tell me how all the articles I posted which explained the reasoning for the increased remittances being external are wrong?

 

[Bigboii]

Can you stop deflecting and tell me which policies exactly have resulted in the increase in remittances? And while you’re at it can you tell me how all the articles I posted which explained the reasoning for the increased remittances being external are wrong?

best thing for the people in the country is get a foreign visa and run as fast as you can the country isn't going anywhere faces will change, economy will rise for a year or two clowns will get happy for a while some buffoons will come ruin it because the system is not in place to keep this sustained growth

country is crap hole and it'll remain that way for decades if the system is not changed and no IK is not the one who'll change it he is not smart enough and no "smartness" doesn't come from having good ideas but thinking through those ideas how these ideas would impact the country, what kind of precedence it sets but honestly in your hearts of hearts YOU REALLY THINK HE THINKS THROUGH THE POLICIES HE IS CREATING? his thought process is it sounds good and than next thing you know its a policy my problem is not the policy but the ways he is coming with those policies whenever you'd look at what he is doing it seems like everything is being rushed through and no one is thinking through on what kind of impact it'll have on the country for example look at the ban on Bollywood country is in a bad relationship with India than a quick snap decision is issued that says ban Bollywood movies next thing you know cinema houses are taking a financial beating, cinemas are closing down and Pakistani industry starts to feel the impact of this seemingly good decision on face value this is what I am he doesn't think through his decisions and anyone who doesn't do that is not capable of creating a sound system of governance

These Knee jerk decisions are really common and that shows the faults in the system because in no successful country these knee jerk decisions go unchecked there are system of checks and balances which stops these decisions but not in Pakistan and by taking tese decisions he shows that he cant "think through" his decisions and these kinds of people ant build long lasting systems that provide stability for the country

People who built the system for all the big powerful nations were literal book geeks and giants, these people wrote tons of books and were intellectual powerhouses and Pak politicians/people barely read anything more than a page
They had debates on a single issue for months on end there's this story of Jefferson and John Adams best friends debating, fighting in sweltering summer heat for MONTHS with black curtains down so people cant see on what's happening and this is happening when the country was still fighting with the British for their independence

When Pakistan was created no one had any idea except for Quied E Azam on how this country would operate even some insiders thought it would be a sharia based country it took Pakistan years after independence to get their constitution ready when most successful countries start this process way earlier than that

The only guy who had any idea on how this country would operate died within a year which was catastrophic because there is this theory that statistically when their is stability in terms of who rules the new country for first 10 years than those countries prosper

so the end result is stop the dreaming in the grand scheme of things the country is a small country somewhere in Asia which is a theological state with no stability because stability starts with a solid system/constitution/laws that is not in place move overseas somewhere because its not changing for at least 50, 60 more years because all of the system needs to be built from the ground up with competent people and this wont happen because

- lack of competent people in power
- lack of belief in the "system" because people don't really believe in "law", its a society run by and for clans and you have to constantly appease these groups to stay in power but when you do that "system" has to be compromised
- To built a system from the ground up you need massive instability which I am afraid Pakistan cannot survive so it'll have to live in this organized chaos

These good economic times or bad economic times will come and go their supporters will come and go but the country would never "truly" change cause the base is all wrong the way its set up is all wrong and people with a sense of history, political science would know this ain't changing!

So if anyone is a thinking person he/she would definitely try to get out of there while they can

 

[Bigboii]

Can you stop deflecting and tell me which policies exactly have resulted in the increase in remittances? And while you’re at it can you tell me how all the articles I posted which explained the reasoning for the increased remittances being external are wrong?

he would never read the articles you posted from the looks of it he isn't much into reading at all

he'll continue to post the "economic miracle" that is taking place under IK's administration let the fool live in his bubble...

wasting your time with this clown tbh

 

[Syed1]

he would never read the articles you posted from the looks of it he isn't much into reading at all

he'll continue to post the "economic miracle" that is taking place under IK's administration let the fool live in his bubble...

wasting your time with this clown tbh

Mods control the barking of this paindu swine.

 

[Syed1]

Can you stop deflecting and tell me which policies exactly have resulted in the increase in remittances? And while you’re at it can you tell me how all the articles I posted which explained the reasoning for the increased remittances being external are wrong?

No you are the one deflecting.... Explain to me how remittances were $23b in FY20 and $21b in FY19 after being stagnant at $19b for the last three years.


Don't run.

 

[Bigboii]

Mods control the barking of this paindu swine.

classy!
you never fail to live up to your expectations

 

[uberkoen]

No you are the one deflecting.... Explain to me how remittances were $23b in FY20 and $21b in FY19 after being stagnant at $19b for the last three years.


Don't run.

You want me to answer for you? So you’re saying you don’t know what IK did but somehow magically remittances increased.

You’re a special one aren’t you?

 

[Thunderbolt14]

You want me to answer for you? So you’re saying you don’t know what IK did but somehow magically remittances increased.

You’re a special one aren’t you?

To be honest both of you are deflecting

You’re saying nothing happened, yet they magically increased.

He’s saying he doesn’t know what happened, yet they magically increased.

So what happened? Why did they increase the answer to that will tell us whether IK was involved or not.

My personal take is that they increased due to a surge in confidence in the Pakistan market. I might be wrong but inflation should actually reduce remittances (if your family needed $1000 before, now they only need $600 which is the same value). But an increase shows there is more to the story. Since remittances are being measured in dollars, an increase of $2 billion per year is a mammoth sum - any resident economist would be appreciated to jump in and walk us through this year-on-year bump.

 

[uberkoen]

To be honest both of you are deflecting

You’re saying nothing happened, yet they magically increased.

He’s saying he doesn’t know what happened, yet they magically increased.

So what happened? Why did they increase the answer to that will tell us whether IK was involved or not.

My personal take is that they increased due to a surge in confidence in the Pakistan market. I might be wrong but inflation should actually reduce remittances (if your family needed $1000 before, now they only need $600 which is the same value). But an increase shows there is more to the story. Since remittances are being measured in dollars, an increase of $2 billion per year is a mammoth sum - any resident economist would be appreciated to jump in and walk us through this year-on-year bump.

I've already provided articles explaining the increase. He says it not because of that and its some other reason so waiting to hear the reasons from him cause i'm really interested to know exactly which economic policy was implemented that led to this increase.

It's not down to a surge in confidence in the Pakistan market. Read the articles I posted and you will get the answer.

 

[Savak]

Do the initiatives like the Roshan Digital Account have something to do with the Surge in Remmitances?

 

[uberkoen]

Do the initiatives like the Roshan Digital Account have something to do with the Surge in Remmitances?

Finally someone who points out something concrete that could potentially be the reason for the increase. However, why doesn't the government share data and the breakdown of these increased remittances if it was down to Roshan Digital Account surely they would share this information.

 

[Thunderbolt14]

I've already provided articles explaining the increase. He says it not because of that and its some other reason so waiting to hear the reasons from him cause i'm really interested to know exactly which economic policy was implemented that led to this increase.

It's not down to a surge in confidence in the Pakistan market. Read the articles I posted and you will get the answer.

Here is a quote from your own article which gives credit to government policies. Am I missing something?

The central bank further said extension of reimbursement of TT charges scheme, which allows to send remittances free of charge to small remitters by reducing threshold from $200 to $100, also played an important role to increase inflows through official channels.

Moreover, the central bank also brought technology-based money transfer firms onboard which helped absorb the shock of lockdowns.

"Financial institutions were motivated to use effective marketing campaigns with particular focus on digital channels for sending and receiving remittances to promote the use of legal channels," said State Bank of Pakistan.

Dr Qaiser Anis, president for Pakistan Business Professional Council, Abu Dhabi, said the PTI government's decision in the latest budget not to question about the source of income from overseas Pakistanis investing in construction and housing sector created a very positive momentum for foreign funds inflows into the country.

"The Pakistani rupee has also strengthened of late against the UAE dirham and the US dollar following increased remittances. Going forward, the trend will continue at similar pace and Pakistan will attract more FDI. Remittances can go up to $25 billion," said Anis.


Iqbal Dawood, president of Pakistan Business Council, Dubai, said remittances to Pakistan stayed strong in the first 9 to 10 months of 2020 fiscal year prior to the outbreak of coronavirus pandemic.

"Since the outbreak of coronavirus, overseas Pakistani businessmen who are into small businesses such as restaurants etc are sending money back to start businesses in the home country because economic situation in the GCC and other countries is not good for the past few months. Since these businessmen are going back, they are remitting funds which resulted in increase in foreign remittances," said Dawood.

Going forward, he sees this trend of small businessmen shifting some of their investments back will continue in the coming months.

"In the latest budget, Imran Khan's government encouraged investment into construction and development sectors and offered incentives. For example, if anyone invests in these two sectors, they will not be questioned about the source of income. Therefore, remittances flow will remain steady.”.

 

[Thunderbolt14]

[MENTION=107753]uberkoen[/MENTION]

Reading all of these articles makes it seem like it has nothing to do with IK's policies but due to various other external factors including COVID, suspension of flights, economic situation of other countries etc. Then again, they may all be wrong so could you please let patwari's like me know what PTI has done that has had this impact?

This comment seems very disingenuous after reading all the articles you sent. Indeed the portion relating to “COVID, suspension of flights, economic situation of other countries” is true and no one is giving PTI 100% credit but you have very conveniently ignored information in the very articles you are linking.

You are singling out one half of the story, And not acknowledging the incentive schemes set up by PTI to catalyze remittances through official channels. Indeed, even your mention of “COVID, suspension of flights, economic situation of other countries” comes down to how well PTI handled the coronavirus situation in Pakistan, such that our economy is still doing relatively better compared to other countries in the region.

 

[uberkoen]

[MENTION=107753]uberkoen[/MENTION]



This comment seems very disingenuous after reading all the articles you sent. Indeed the portion relating to “COVID, suspension of flights, economic situation of other countries” is true and no one is giving PTI 100% credit but you have very conveniently ignored information in the very articles you are linking.

You are singling out one half of the story, And not acknowledging the incentive schemes set up by PTI to catalyze remittances through official channels. Indeed, even your mention of “COVID, suspension of flights, economic situation of other countries” comes down to how well PTI handled the coronavirus situation in Pakistan, such that our economy is still doing relatively better compared to other countries in the region.

The article explains that people have started using official channels more due to suspension of flights which has resulted in hawala and other similar services declining.

 

[Thunderbolt14]

The article explains that people have started using official channels more due to suspension of flights which has resulted in hawala and other similar services declining.

Again you are deflecting from the very pertinent piece of information pertaining to PTI. Your response has told me nothing I did not know already.

 

[last_knight]

To be honest both of you are deflecting

You’re saying nothing happened, yet they magically increased.

He’s saying he doesn’t know what happened, yet they magically increased.

So what happened? Why did they increase the answer to that will tell us whether IK was involved or not.

My personal take is that they increased due to a surge in confidence in the Pakistan market. I might be wrong but inflation should actually reduce remittances (if your family needed $1000 before, now they only need $600 which is the same value). But an increase shows there is more to the story. Since remittances are being measured in dollars, an increase of $2 billion per year is a mammoth sum - any resident economist would be appreciated to jump in and walk us through this year-on-year bump.

Is it that influx is channelized more now ?

 

[uberkoen]

Again you are deflecting from the very pertinent piece of information pertaining to PTI. Your response has told me nothing I did not know already.

Are you talking about this point in particular:

Dr Qaiser Anis, president for Pakistan Business Professional Council, Abu Dhabi, said the PTI government's decision in the latest budget not to question about the source of income from overseas Pakistanis investing in construction and housing sector created a very positive momentum for foreign funds inflows into the country.

So we should celebrate allowing black money to flow in?

 

[Bewal Express]

Are you talking about this point in particular:

Dr Qaiser Anis, president for Pakistan Business Professional Council, Abu Dhabi, said the PTI government's decision in the latest budget not to question about the source of income from overseas Pakistanis investing in construction and housing sector created a very positive momentum for foreign funds inflows into the country.

So we should celebrate allowing black money to flow in?

I dont see a problem with this unless it was originally stolen from PK. Do you see a problem with this as long as its not affecting the FATF regulations?

 

[Syed1]

To be honest both of you are deflecting

You’re saying nothing happened, yet they magically increased.

He’s saying he doesn’t know what happened, yet they magically increased.

So what happened? Why did they increase the answer to that will tell us whether IK was involved or not.

My personal take is that they increased due to a surge in confidence in the Pakistan market. I might be wrong but inflation should actually reduce remittances (if your family needed $1000 before, now they only need $600 which is the same value). But an increase shows there is more to the story. Since remittances are being measured in dollars, an increase of $2 billion per year is a mammoth sum - any resident economist would be appreciated to jump in and walk us through this year-on-year bump.

Where was I deflecting. I gave him hard numbers with regards to remittances during NS government and two years of IK government. Then he started doing aain bain shain ki baatien to try and take the credit away from IK government.



The fact is that IK government brought strict anti money laundering laws, introduced severe checks and balances on foreign exchange companies and encouraged channeling of remittances through banking channels by incentivizing it.


Had the same achievement happened during the last government patwaris like [MENTION=107753]uberkoen[/MENTION] would have been dancing in the streets.

 

[Thunderbolt14]

Are you talking about this point in particular:

Dr Qaiser Anis, president for Pakistan Business Professional Council, Abu Dhabi, said the PTI government's decision in the latest budget not to question about the source of income from overseas Pakistanis investing in construction and housing sector created a very positive momentum for foreign funds inflows into the country.

So we should celebrate allowing black money to flow in?

Perhaps you didn’t read my quote here:

1. Extension of reimbursement of TT charges scheme, which allows to send remittances free of charge to small remitters by reducing threshold from $200 to $100, played an important role to increase inflows through official channels.

2. The central bank brought technology-based money transfer firms onboard which helped absorb the shock of lockdowns. Financial institutions were motivated to use effective marketing campaigns with particular focus on digital channels for sending and receiving remittances to promote the use of legal channels.

3. PTI government made the decision in the latest budget not to question about the source of income from overseas Pakistanis investing in construction and housing sector, which created a very positive momentum for foreign funds inflows into the country. In addition, the government provided incentives for investment in the construction and housing sectors which have encouraged remittances to grow steadily.

4. The Pakistani rupee has also strengthened of late against the UAE dirham and the US dollar (indicative of the economy beginning to do better under PTI) following increased remittances. Going forward, the trend will continue at similar pace and Pakistan will attract more FDI, with remittances going up to $25 billion.

5. Since the outbreak of coronavirus, overseas Pakistani businessmen who are into small businesses such as restaurants l are sending money back to start businesses in the home country because economic situation in the GCC and other countries is not good for the past few months (compared to Pakistan, where the economy has been managed better amid the pandemic - that is, the economic environment cultivated by PTI is more favorable to overseas Pakistanis than the environment in Gulf countries). Going forward, this trend of small businessmen shifting some of their investments back is expected to continue in coming months.

I hope this clarifies things, this is a summary of some points I found from your own articles, trying to bash PTI. I don’t support any political party religiously, I just give credit where it is due and this government has been a godsend after the disasters of Pakistan’s last 50 years (1971 onwards, beginning with the farcical Bhutto era and culminating with the decadent Sharifs).

Our economy is moving in the right direction, and all indicators point to a steady surge in positive momentum. All this despite troubling global circumstances. PTI is our last ditch effort to redeem this country.

 

[MenInG]

 

[Syed1]

No we miss the time when current account deficit was $20b.


Even KSE is hating this news and today increased by 500 points in protest.


Selected Niazi isteefa do.

 

[Hasan]

Remittances (Through official channels) have increased owing to a number of factors, Covid and significant increase in money laundering controls (FATF compliance) and the government initiative to enable overseas Pakistani to open bank account with local Pakistani banks (Roshan Digital Accounts.

A lot of credit needs to go to PTI government which had made the unofficial channels to transfer funds in and out of the country more difficult. PPP and PML N for obvious reasons did not wish to close these unofficial channels.

The benefit of this will very broad, money will be transferred through the banking system which will make tax evasion, money laundering and corruption as a whole far more difficult.

 

[Savak]

Remittances (Through official channels) have increased owing to a number of factors, Covid and significant increase in money laundering controls (FATF compliance) and the government initiative to enable overseas Pakistani to open bank account with local Pakistani banks (Roshan Digital Accounts.

A lot of credit needs to go to PTI government which had made the unofficial channels to transfer funds in and out of the country more difficult. PPP and PML N for obvious reasons did not wish to close these unofficial channels.

The benefit of this will very broad, money will be transferred through the banking system which will make tax evasion, money laundering and corruption as a whole far more difficult.

The key is digitization of everything. For eg in Canada the CRA has access to the personal and corporate bank accounts of every Canadian Citizen therefore nothing can be hidden from them.

During the PML N govt, a young university graduate came up with a software and technology backed solution, plan in order to increase tax compliance and to make tax evasion impossible in the country, to bring the unofficial economy into the registered tax bracket, the PML N govt totally shot down the students plan and he despondently left the country. I wish I had his details and whether he got in touch with anyone in the pti govt

 

[Waseem]

Remittances (Through official channels) have increased owing to a number of factors, Covid and significant increase in money laundering controls (FATF compliance) and the government initiative to enable overseas Pakistani to open bank account with local Pakistani banks (Roshan Digital Accounts.

A lot of credit needs to go to PTI government which had made the unofficial channels to transfer funds in and out of the country more difficult. PPP and PML N for obvious reasons did not wish to close these unofficial channels.

The benefit of this will very broad, money will be transferred through the banking system which will make tax evasion, money laundering and corruption as a whole far more difficult.

Plenty of steps taken to counter money laundering. What do you expect when entire top leadership of major political parties is involved in money laundering Sharifs & Zardaris keep shocking everyday with most organised money laundering imaginable with all these TTs coming to servants & friends. They even made it halal & lawful and now their ignorant supporters are defending what have they done wrong really and of course they are all fighting for democracy so all these small theft is meaningless

 

[Thunderbolt14]

The key is digitization of everything. For eg in Canada the CRA has access to the personal and corporate bank accounts of every Canadian Citizen therefore nothing can be hidden from them.

During the PML N govt, a young university graduate came up with a software and technology backed solution, plan in order to increase tax compliance and to make tax evasion impossible in the country, to bring the unofficial economy into the registered tax bracket, the PML N govt totally shot down the students plan and he despondently left the country. I wish I had his details and whether he got in touch with anyone in the pti govt

Can you forward a news article on this?

 

[Kianig89]

NPHS to kick start with private banks also involved mortgage at 7% not sure about hidden charges lets see

 

[Syed1]

Dollar dropped from 161.8 to 161.3 today. It was at 168 sometime in June-July. Need to regain pre-covid level of 155.


The exporters are beginning to complain, I read the headline which was something along the lines of "Exporters worried about volatility in the ruppee". Obviously with the strengthening ruppee they see their profits reducing.


I feel ideal ruppee value is in the range of 120-140, inshallah we will achieve that by 2025.

 

[MenInG]

Stocks were in the green on Monday with the benchmark KSE-100 index climbing 585 points, buoyed up by cement stocks and an encouraging Financial Action Task Force (FATF) announcement on Friday, to close at 41,850 – up 1.4 per cent.

“The market optimism was primarily driven by the appreciation of cement and construction-related stocks,” said Head of Research at BMA Capital, Faizan Ahmed, while speaking to Dawn.

“Southern cement manufacturers’ decision to increase per bag prices by Rs10 coupled with the news on shortages in some cities have pushed up the prices of cement stocks.”

On the other hand, the largest player in the cement sector, Lucky Cement Ltd, reported a higher-than-expected jump in net profits during 1QFY21 at Rs5.13 billion compared to Rs1.5bn during the same period last year. The company’s net sales increased 66 per cent year-on-year (YoY) with cement sales rising 49pc on the back of higher dispatches.

The announcement put a spotlight on the overall sector amid rising demand for cement due to an increase in construction activities.

Autos and oil & gas marketing companies also gained in anticipation of stronger sales in October.

The Financial Action Task Force’s announcement on Friday, when it acknowledged steps taken by authorities against money laundering and terror financing, was also received well by investors who were jittery during the last week. The global anti-money laundering watchdog said Pakistan had successfully complied with 21 out of 27 points of action even as it urged authorities to “swiftly complete its full action plan by February 2021”.

“While the FATF's decision of keeping Pakistan on the 'grey list' was widely expected, the market cheered the formal acknowledgement of the progress made so far and the risk of blacklisting being largely over,” said Umer Farooq, analyst at AKD Securities.

Farooq also attributed today's rally to the earnings surprise posted by Lucky Cement Ltd, while “healthy payouts in the IPP space and earnings growth by companies in the pharmaceutical sector” further bolstered sentiment at the bourse, according to him.

Minister for Industries and Production Hammad Azhar, commenting on today's rally, among other things, tweeted:

“Rally in the stock market, appreciation of the rupee in currency markets, strong growth in industrial sectors like cement, automobiles, construction, fertiliser, textiles etc. point towards a positive economic sentiment in the country. Tax revenues are also rising and current account [is] in surplus.”

https://www.dawn.com/news/1587119/k...nts-buoyed-by-cement-stocks-fatf-announcement

 

[Syed1]

Please observe a moment of silence for certain people and their dead hopes and dreams.


<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Pakistan's exports have surged in Quarter 1 of the current financial year, with a staggering 44% increase in IT and IT-enabled services, 23% increase in pharmaceutical products and 20% increase in transport equipment.<a href="https://twitter.com/hashtag/PakistanMakingProgress?src=hash&ref_src=twsrc%5Etfw">#PakistanMakingProgress</a> <a href="https://t.co/3udJ6GtU7i">pic.twitter.com/3udJ6GtU7i</a></p>— Govt of Pakistan (@GovtofPakistan) <a href="https://twitter.com/GovtofPakistan/status/1320671882820128769?ref_src=twsrc%5Etfw">October 26, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[Syed1]

March of the ruppee continues. Dollar drops below 161 now, at the end of the day it stood at 160.91

 

[Angrez Pakistani]

I wonder how the surge in the manufacturing of pharmaceutical products correlates with the surge in their demand.

 

[Syed1]

March of the ruppee continues. Dollar drops below 161 now, at the end of the day it stood at 160.91

March of the ruppee continues. Now at 160.62. I wonder where will it stabilize.



Also notice how if it depreciates by just 2 paisas all these posters belonging to a certain party and media houses would be doing matam and asking for Imran Khan to resign; but since it has appreciated 8 ruppees in a couple of months not a peep from the usual suspects.

 

[Waseem]

Noonis don't even know what is about to hit them, I am very confident based on recent progress that South Punjab will become separate province (waiting for senate elections) and they never voted for PMLN and this will be last nail in PMLN's coffin. North Punjab is no different, they will punish these scammers again for running smear campaign against Army. So PMLN is left with central Punjab and they will NEVER be able to rule Pakistan just by winning few parts of current Punjab.
Health insurance in Punjab is being rolled out and that will be a game changer for the province. Police reforms is probably the most difficult and at least i haven't heard much progress on this and change of 6 IGs makes it even worse.

As expected, health insurance has been announced for whole Punjab starting with the poorest, transgenders, widows etc and eventually it will be rolled out in whole Punjab in a year's time. This will be a game changer but I really hope they can do this because even the most rich countries can't afford this and health officials in Pakistan think this is not possible so extremely touch challenge.

Next is creation of South Punjab province which will only be possible after Senate elections. Controlling inflation is a challenge but people think it's all about price control but it's really not that, it's also about overall Economy, currency devaluation etc so not as simple as press button and control inflation.

Price of medicines is also being controlled through reforms which could take some time but will be long lasting; it's not just about price either, the quality is also pathetic so concrete steps are being taken to improve quality and provide incentives to companies.

The only thing i haven't yet seen is "Police reforms" in Punjab which no doubt is extremely challenging but need to at least see steps taken so far which aren't visible at any level.

 

[Bigboii]

As expected, health insurance has been announced for whole Punjab starting with the poorest, transgenders, widows etc and eventually it will be rolled out in whole Punjab in a year's time. This will be a game changer but I really hope they can do this because even the most rich countries can't afford this and health officials in Pakistan think this is not possible so extremely touch challenge.

Next is creation of South Punjab province which will only be possible after Senate elections. Controlling inflation is a challenge but people think it's all about price control but it's really not that, it's also about overall Economy, currency devaluation etc so not as simple as press button and control inflation.

Price of medicines is also being controlled through reforms which could take some time but will be long lasting; it's not just about price either, the quality is also pathetic so concrete steps are being taken to improve quality and provide incentives to companies.

The only thing i haven't yet seen is "Police reforms" in Punjab which no doubt is extremely challenging but need to at least see steps taken so far which aren't visible at any level.

are they getting rid of private healthcare? (like is it universal healthcare where everyone has to get insured)

 

[Syed1]

As expected, health insurance has been announced for whole Punjab starting with the poorest, transgenders, widows etc and eventually it will be rolled out in whole Punjab in a year's time. This will be a game changer but I really hope they can do this because even the most rich countries can't afford this and health officials in Pakistan think this is not possible so extremely touch challenge.

Next is creation of South Punjab province which will only be possible after Senate elections. Controlling inflation is a challenge but people think it's all about price control but it's really not that, it's also about overall Economy, currency devaluation etc so not as simple as press button and control inflation.

Price of medicines is also being controlled through reforms which could take some time but will be long lasting; it's not just about price either, the quality is also pathetic so concrete steps are being taken to improve quality and provide incentives to companies.

The only thing i haven't yet seen is "Police reforms" in Punjab which no doubt is extremely challenging but need to at least see steps taken so far which aren't visible at any level.

Yes I was surprised when IK announced universal healthcare insurance for all of Punjab. It's one thing doing it for 35m people of KPK but to give it to 110m people of Punjab would be an epic feat. Might cost upwards of 100b per year. I doubt such a facility is available anywhere in the third world.

KPK did the right thing, your CNIC just doubles up as your health card. Punjab is actually issuing health cards so would take time to reach all.

 

[Waseem]

are they getting rid of private healthcare? (like is it universal healthcare where everyone has to get insured)

Each eligible family gets Rs 800k to spend on medical expenses at government or private hospitals at no cost. I don't think this will replace private health but I doubt many in Pakistan go for private health insurance. I personally know countless families who had to sell from Gold to furniture to pay their medical bills and many preferred to die than get regular life saving drugs/injections because they were too expensive. I still don't know how government can afford this as cost could reach hundreds of Billions Rs but THIS is what deserves subsides not gimmick projects.

 

[Waseem]

Yes I was surprised when IK announced universal healthcare insurance for all of Punjab. It's one thing doing it for 35m people of KPK but to give it to 110m people of Punjab would be an epic feat. Might cost upwards of 100b per year. I doubt such a facility is available anywhere in the third world.

KPK did the right thing, your CNIC just doubles up as your health card. Punjab is actually issuing health cards so would take time to reach all.

I am sure I heard Imran Khan clarifying that CNIC will become your health card as well in Punjab. As for cost, yes the cost is extraordinarily high so NO IDEA how they can even think about rolling it out in whole Punjab in a year. If they can pull it off then it would be pleasant surprise (still think it could take many years, 1 year is way too short for such project).

 

[Bewal Express]

I am sure I heard Imran Khan clarifying that CNIC will become your health card as well in Punjab. As for cost, yes the cost is extraordinarily high so NO IDEA how they can even think about rolling it out in whole Punjab in a year. If they can pull it off then it would be pleasant surprise (still think it could take many years, 1 year is way too short for such project).

Its seems too ambitious in the short space of time.

 

[Syed1]

Its seems too ambitious in the short space of time.

Seems IK realized that the reason he got 2/3 in KPK was due to health card and local government.


I wonder when local governments will be rolled out in Punjab and second term in KPK. The law was passed over a year ago.

 

[Savak]

Seems IK realized that the reason he got 2/3 in KPK was due to health card and local government.


I wonder when local governments will be rolled out in Punjab and second term in KPK. The law was passed over a year ago.

Lol, i would love to see the Noora's counter this with their own Sher Jawan health card, its about time they use their coffers for the benefit of their masses

 

[Savak]

Each eligible family gets Rs 800k to spend on medical expenses at government or private hospitals at no cost. I don't think this will replace private health but I doubt many in Pakistan go for private health insurance. I personally know countless families who had to sell from Gold to furniture to pay their medical bills and many preferred to die than get regular life saving drugs/injections because they were too expensive. I still don't know how government can afford this as cost could reach hundreds of Billions Rs but THIS is what deserves subsides not gimmick projects.

Lol, just speaking to a few of my die hard Noora friends, they are like if NS was allowed some time and space, even he would have introduced this scheme which would have been even better. Lol, are 10 years not enough?

 

[Syed1]

Lol, i would love to see the Noora's counter this with their own Sher Jawan health card, its about time they use their coffers for the benefit of their masses

Those paindus don't have enough brain power to do anything like that.

 

[Savak]

NS is such a petty individual who viewed all of Pakistan, its resources, treasury as his baap kee Jaagir, there were a few projects which Musharraf had inaugrated and kickstarted, he had the inaugral plates removed and he reinaugrated them inserting his name and plates instead.

 

[Savak]

Also to give you a difference between the attitudes of the two parties PML N and PTI. PML N had announced and started working on the Lahore Orange Line Train, PTI criticized the project because it required massive subsidies to provide cheap fares to the local population. PML N was unable to finish the project by the end of their tenure.

However the PTI in good faith still decided to carryon and complete the project because too much work had been done on it and they inaugurated it this week. And that clown Saad Rafique on the inauguration date, led PML N workers, supporters and they started shouting PML N, Nawaz Sharif slogans

 

[Varun]

However the PTI in good faith still decided to carryon and complete the project because too much work had been done on it and they inaugurated it this week. And that clown Saad Rafique on the inauguration date, led PML N workers, supporters and they started shouting PML N, Nawaz Sharif slogans

Go easy on the swooning - any government would have finished a capital intensive project like that, which was already 60-70% complete.

We see it in Indian metro systems all the time, including the two munchkins Jayalalitha and Karunanidhi and the Chennai metro inaugurated a few years ago.

 

[Syed1]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Interbank closing <a href="https://twitter.com/hashtag/ExchangeRate?src=hash&ref_src=twsrc%5Etfw">#ExchangeRate</a> for today: <a href="https://t.co/SNNPtd1pHU">https://t.co/SNNPtd1pHU</a> <a href="https://t.co/M78LoatwLh">pic.twitter.com/M78LoatwLh</a></p>— SBP (@StateBank_Pak) <a href="https://twitter.com/StateBank_Pak/status/1321768749041672192?ref_src=twsrc%5Etfw">October 29, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[Slog]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Interbank closing <a href="https://twitter.com/hashtag/ExchangeRate?src=hash&ref_src=twsrc%5Etfw">#ExchangeRate</a> for today: <a href="https://t.co/SNNPtd1pHU">https://t.co/SNNPtd1pHU</a> <a href="https://t.co/M78LoatwLh">pic.twitter.com/M78LoatwLh</a></p>— SBP (@StateBank_Pak) <a href="https://twitter.com/StateBank_Pak/status/1321768749041672192?ref_src=twsrc%5Etfw">October 29, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Is USD weakening or PKR strengthening. With US monetary policy and unlimited printing it might be the former. Would be interesting to see how other currencies doing re dollar

 

[Mamoon]

Also to give you a difference between the attitudes of the two parties PML N and PTI. PML N had announced and started working on the Lahore Orange Line Train, PTI criticized the project because it required massive subsidies to provide cheap fares to the local population. PML N was unable to finish the project by the end of their tenure.

However the PTI in good faith still decided to carryon and complete the project because too much work had been done on it and they inaugurated it this week. And that clown Saad Rafique on the inauguration date, led PML N workers, supporters and they started shouting PML N, Nawaz Sharif slogans

Thankfully most of the work was done during the previous regime. If PTI had started this project, it would have been a disaster like the Peshawar BRT and the buses would have been on fire.

 

[Syed1]

Is USD weakening or PKR strengthening. With US monetary policy and unlimited printing it might be the former. Would be interesting to see how other currencies doing re dollar

I'm not that well versed on this matter so don't know why the exchange rate is falling. I thought it might have been due to the current account surplus in this quarter, must might be a multitude of reasons such as the ones you mentioned. The ruppee is strengthening against other currencies as well.

 

[Bewal Express]

Thankfully most of the work was done during the previous regime. If PTI had started this project, it would have been a disaster like the Peshawar BRT and the buses would have been on fire.

So you take full responsibility for the 12bn a year subsidy for eternity. Over a decade close to a $bn,good work

 

[Syed1]

So you take full responsibility for the 12bn a year subsidy for eternity. Over a decade close to a $bn,good work

Peshawar BRT has been a huge success and has resulted in marked reduction in traffic. BRT stations usually are packed with folks looking to get on the bus and get to their destination. The feeder routes have helped Peshawar BRT cover majority of the city. Yes, there was an issue with a couple of buses catching fire and because of that the service was suspended for a month. The bus manufacturer ascertained that the hybrid system of the bus was overheating and fixed the problem. The service was restarted on 25th Oct and has been running without incident since then.


Some nashukray people will always find fault in it.

 

[the Great Khan]

I am sure I heard Imran Khan clarifying that CNIC will become your health card as well in Punjab. As for cost, yes the cost is extraordinarily high so NO IDEA how they can even think about rolling it out in whole Punjab in a year. If they can pull it off then it would be pleasant surprise (still think it could take many years, 1 year is way too short for such project).

they will not be rolling out to everyone just certain groups. Overall it could take 3-5 years for full coverage or even more than that.

 

[Syed1]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Alhamdolillah, our exports have maintained the growth trend in October 2020. Our exports have crossed the 2 billion mark after July 2020 and are back on track to pre-COVID- 19 levels. This is despite the contraction in our major markets due to COVID-19 and... 1/2</p>— Abdul Razak Dawood (@razak_dawood) <a href="https://twitter.com/razak_dawood/status/1323203448750428160?ref_src=twsrc%5Etfw">November 2, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[Syed1]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Interbank closing <a href="https://twitter.com/hashtag/ExchangeRate?src=hash&ref_src=twsrc%5Etfw">#ExchangeRate</a> for today: <a href="https://t.co/lGXpS1wfc2">https://t.co/lGXpS1wfc2</a> <a href="https://t.co/O5jMarYOHY">pic.twitter.com/O5jMarYOHY</a></p>— SBP (@StateBank_Pak) <a href="https://twitter.com/StateBank_Pak/status/1323566230205321216?ref_src=twsrc%5Etfw">November 3, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>


Dollar drops below 160. Sad day for patwaris. My heart felt commiserations

 

[Thunderbolt14]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Interbank closing <a href="https://twitter.com/hashtag/ExchangeRate?src=hash&ref_src=twsrc%5Etfw">#ExchangeRate</a> for today: <a href="https://t.co/lGXpS1wfc2">https://t.co/lGXpS1wfc2</a> <a href="https://t.co/O5jMarYOHY">pic.twitter.com/O5jMarYOHY</a></p>— SBP (@StateBank_Pak) <a href="https://twitter.com/StateBank_Pak/status/1323566230205321216?ref_src=twsrc%5Etfw">November 3, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>


Dollar drops below 160. Sad day for patwaris. My heart felt commiserations

Wow wow wow! Sad to see this thread empty of comments in the last few days

 

[Syed1]

Trade deficit in Oct 2020 drops around 25% as compared to Oct 2019. Exports increased by around 2%, imports dropped by 10%. Export growth is heartening considering we did not have a full on global pandemic in same month of last year.

The trade deficit is around $1.6b in the month. Considering that remittances are in the range of $2.0 - 2.5b every month we will easily have a current account surplus in this month. Fifth month in a row, if I'm not mistaken.

 

[Syed1]

Ruppee continuing to rise, I wonder where it will stabilize. I think the government should step in if it gets to 150 and shows no sign of stopping otherwise we risk our exports becoming expensive which in turn will cause current account balance issues eventually leading to the ruppee falling.. government has to strike a fine balance.

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Interbank closing <a href="https://twitter.com/hashtag/ExchangeRate?src=hash&ref_src=twsrc%5Etfw">#ExchangeRate</a> for today: <a href="https://t.co/t0qK7Qx5XG">https://t.co/t0qK7Qx5XG</a> <a href="https://t.co/j1MFAUZWTr">pic.twitter.com/j1MFAUZWTr</a></p>— SBP (@StateBank_Pak) <a href="https://twitter.com/StateBank_Pak/status/1324299381189869569?ref_src=twsrc%5Etfw">November 5, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[saeedhk]

Pakistanis asked for sasti cheeni but our handsome PM is talking about cheeni nizaam. IK, as always, is being a loose canon and being totally out of sync with the public.

 

[Bewal Express]

Pakistanis asked for sasti cheeni but our handsome PM is talking about cheeni nizaam. IK, as always, is being a loose canon and being totally out of sync with the public.

Sasti cheeni is painting over the cracks, cheeni Nizam is dealing with and fixing the cracks ie the mafia that control the supply. Both need to be dealt with.

 

[Thunderbolt14]

Pakistanis asked for sasti cheeni but our handsome PM is talking about cheeni nizaam. IK, as always, is being a loose canon and being totally out of sync with the public.

Sasti cheeni equates to subsidies. This closes the gap between demand and supply - effectively the government is buying from the sugar mafia on behalf of the people. Rewind to Nawaz Sharif, that doesn’t make for great viewing does it?

 

[Syed1]

On the same day IK inaugurating free health insurance for 6 districts of KPK in Swat, and just a little distance away in GB both Bilawal Zardari and Maryam Safdar barking that if they lose GB elections then it is dhandli and "vote ko izzat do", even though they have absolutely no chance in GB. Check out the difference in priorities. These parties have ruled for three decades and couldn't bring health insurance while PTI is just in their 7th year in KPK and have insured EVERY SINGLE RESIDENT.


Also I'd be very surprised if PTI win less than 12-15 seats out of the total 24.

 

[Syed1]

Btw dollar dropped further today from 159.46 to 159.08. Alhumdulilah

 

[Syed1]

Lovely

<blockquote class="twitter-tweet"><p lang="ur" dir="rtl">وزیراعظم عمران خان کل حافظ آباد میں یونیورسٹی آف حافظ آباد اور DHQ ہسپتال کا سنگ بنیاد رکھیں گے<br><br>پاکستان تحریک انصاف کے منشور کے مطابق اس وقت ہم پنجاب بھر میں 10 نئے ہسپتالوں اور 10 نئی یونیورسٹیوں پر کام کر رہے ہیں تاکہ تعلیم اور صحت کہ سہولیات ہر شہری تک پہنچیں!</p>— Usman Buzdar (@UsmanAKBuzdar) <a href="https://twitter.com/UsmanAKBuzdar/status/1324742109409193990?ref_src=twsrc%5Etfw">November 6, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[Syed1]

Ya Allah please grant patwaris the strength to bare through these troublesome times. I sure hope their misery and despair increases Ameen

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Thank you PMIK <a href="https://twitter.com/ImranKhanPTI?ref_src=twsrc%5Etfw">@ImranKhanPTI</a> <br><br>The Business Optimism Index (BOI) for Pakistan increased from 112.8 points in the second quarter (Apr-June) of 2020 to 146.5 points in the third quarter (July-Sept).<br>According to Dun & Bradstreet’s ‘Business Optimism Index.</p>— Javed Afridi (@JAfridi10) <a href="https://twitter.com/JAfridi10/status/1325427931682922496?ref_src=twsrc%5Etfw">November 8, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>