Pakistan economy under the PDM government & now the caretaker administration

[saeedhk]

Pakistan has never such dire economic conditions in its 75-year history. The PDM are the worst. Despicable thugs!

 

[ex-q-zit]

Pak Currency Plunges To 262 Against Dollar Amid IMF Aid Uncertainty

Cash-strapped Pakistan's currency depreciated to its lowest against the US dollar on Friday in the interbank and open market and closed at 262.6 rupees.

At one stage the currency depreciated to 265 rupees in the open market and 266 rupees in the interbank before making a slight recovery by the end of the day.

According to the State Bank of Pakistan, when the market opened on Friday the currency fell by 7.17 rupees or 2.73 per cent from Thursday's close.

The Pakistani rupee's value has devalued by 34 rupees since Thursday in the interbank, the largest depreciation in both absolute and percentage terms since the new exchange rate system was introduced in 1999.

The Pakistani rupee has depreciated sharply after the government removed an unofficial cap on the USD-PKR exchange rate to revive the stalled International Monetary Fund (IMF) loan programme.

The government decision came on Thursday after the exchange companies announced the removal of a self-imposed rate cap in the open market.

The country needs to complete the ninth review of a $7 billion IMF programme that would not only lead to a disbursement of $1.2 billion but also unlock inflows from friendly countries and other multilateral lenders.

The IMF conditions include a market-based dollar-rupee exchange parity and high-interest rate and imposition of a 17 per cent general sales tax on diesel and petrol within a week.

The first two conditions have already been met.

According to data given by the Exchange Companies Association of Pakistan (Ecap), a substantial amount of remittances started flowing into the country through official channels on Friday.

A financial analyst, Hameed Khokar with CX investments, expected the flow of remittances to increase in the coming days and felt it would cross $2.5 billion per month again to gradually reach close to $3 billion in the coming months.

He said that remittances from exports will also improve in the next few months.

Khokar said the biggest challenge facing the government was to support the foreign reserves and improve the currency market so that currency parity is stabilised and import goods are stuck at the port.

More than 9,000 containers are also stuck at the Karachi ports waiting to be paid for clearance of dues including those having essential commodities, petroleum products, LNG and soybean among others.

Other financial analysts have also supported the government's decision to remove the cap on the dollar and felt if this had been done earlier, the country would not have had to pay a huge inflation cost in the coming months and lose $6 billion on various counts.

Director of financial data and analytics portal Mettis Global, Saad bin Naseer also said that after the removal of the cap remittance inflows including export proceeds had again started coming again through the official channels.

The Ecap General Secretary Zafar Paracha said that while the central bank had assured that exchange companies would be supplied dollars, they were yet to receive them.

If supply was established and the government's "complex" policies were corrected, the rupee's devaluation may be stopped, he added.

Meanwhile, the foreign exchange reserves of the central bank continued to slide and hit a new nine-year low of $3.678 billion during the week ended on January 20.

The SBP on Thursday said that its forex holdings decreased by $923 million during the week due to external debt repayments.

But financial analysts remain confident that with Prime Minister Shahbaz Sharif confirming the government would implement all of the IMF conditions for the revival of its programme the economic situation would improve.

Prime Minister Shahbaz Sharif expressed confidence on Friday that the IMF would release the funds by next month.

He said the government was in talks with the IMF to resolve the issue as soon as possible.

NDTV

 

[ex-q-zit]

Pakistan PM Hopeful Of Early Settlement With IMF To Unlock Foreign Loans

Pakistan Prime Minister Shehbaz Sharif on Friday expressed hope for an early agreement with the IMF to unlock the much-needed foreign loans, a day after the global lender announced its plan to send a staff mission to the cash-strapped nation.

The remarks from Mr Sharif came as the country's economy is precariously tethering with just USD 3.7 billion in foreign reserves, which is considered a critical level by experts.

"I fully expect that an agreement with the IMF will be signed this month and we will get out of these difficulties. And multilateral institutions will also support us," Mr Sharif said while addressing the inaugural ceremony of the Green Line Train service here.

The International Monetary Fund (IMF) announced on Thursday to field its staff mission to Pakistan on January 31 for talks on the ninth quarterly review of a funding program pending for almost four months. The successful completion of the review would release USD 1.2 billion for the country.

It would also open up other channels for loans as friendly countries and multilateral lenders were also waiting for the IMF nod to provide much-needed support to Pakistan.

On Wednesday, Finance Minister Ishaq Dar also urged the United States to use diplomatic influence to convince the IMF to show a lenient attitude towards Islamabad, amid tough conditions conveyed by the global lender to revive its fund programme.

As the country anxiously waited for the IMF to release its next tranche of a USD 7 billion package, the rupee continued to lose against dollars for the second straight day.

It fell by ₹ 24.54 on Thursday and another ₹ 7.17 on Friday in the interbank market.

Prime Minister Sharif acknowledged that it was a difficult time, but assured his coalition government was trying day and night to bring the country out of the crisis.

Addressing the same event, Finance Minister Dar blamed the previous government of Imran Khan for the current economic disaster but promised to bring back development and economic growth.

"We will try our best, under PM Shehbaz's guidance, to bring as many improvements as we can before the upcoming general elections. You can see history to see who brings development and economic growth. We will get back on track," he said, adding that the task was tough and the distance long.

He urged for the right analysis to see why Pakistan had gone down to the 47th largest economy when it was the 24th largest in 2018 when the government of the Pakistan Muslim League-Nawaz (PML-N) party completed its tenure.

NDTV

 

[Savak]

Our FX reserves have dropped from $17 billion in April 2022 to $3.7 in January 2023.

Cmon [MENTION=135038]Major[/MENTION] and [MENTION=131701]Mamoon[/MENTION]. Is this the competency you wanted imposed on Pakistan?

 

[Bewal Express]

These losers creating destructive records by the day. With this massive devaluation inflation will hit 50% in Ramadan and petrol will have to go up massively along with all the essentials. Bajwa and his crooks have destroyed PK economy. The Hafiz has continued the same policies

 

[happydavy]

I had mentioned it when Shehbaz Sharif took over that i can't imagine in India ever a major political group trying to get power for 12-18 months when it's known the economic mess can't be controlled. Sharif saab will end up taking the blame for this mess when he could have just shown some patience and let Imran go down with economy.

 

[Bewal Express]

I had mentioned it when Shehbaz Sharif took over that i can't imagine in India ever a major political group trying to get power for 12-18 months when it's known the economic mess can't be controlled. Sharif saab will end up taking the blame for this mess when he could have just shown some patience and let Imran go down with economy.

There is no mystery here, when criminals are appointed, they look to loot and in there desperation they have destroyed PK But under IK was not in danger of going down. We were stable in April, growth was at 6%, remittances were up and outlook was decent. IK warned Bajwa that this wasn't the time for experiments but Bajwa and co wanted a puppet because he had promised some guys( the Americans)blackmailing them.

 

[sjahmed23]

Pakistan is being run by bunch of cartoons and people in Pakistan could careless.

 

[wasim-fan]

Major crash is inevitable. IMF loan is just a stop gap arrangement. How will they provide food grains ? The reforms that are required will be extremely painful and party which has to do it may never come to power. Cycles of fiscal crisis are shrinking. Next one could come up in 6 months. Tough days ahead.

 

[Colorblind Genius]

Major crash is inevitable. IMF loan is just a stop gap arrangement. How will they provide food grains ? The reforms that are required will be extremely painful and party which has to do it may never come to power. Cycles of fiscal crisis are shrinking. Next one could come up in 6 months. Tough days ahead.

Nope, IMF loan is just there for them to loot and rip the country even more.
Do you REALLY think a single penny will be spent with the intention towards the betterment of the country? Do you REALLY believe these imbeciles care?

All these PDM ministers and their friends have their mouths opened like a hungry crocodile for the IMF money to land into the Pakistan's account. And it will be a feast frenzy. This is all what it is.

 

[mazkhan]

It's inevitable the country will eventually default and there will be mass civil unrest and people starving .

But this is a global plan as well to reduce population don't be surprised In near future when you have Ethiopian or yemen like situation In pakistan kids dying from hunger and people eating leaves .

Question remains when the attack dogs attack and carve up the country like usa nato and India.

The generals will ultimately be forced to dismantle the nuclear programme.

India also wants to amend the Indus water treaty which will inevitably cause more water stress for Pakistan and reduce food production .

And since pakistan can't afford fuel and fertiliser prices farmers were struggling anyhow .

220 million plus 40 million + Afghans cannot be sustained by our agriculture.

It's a global plan by zionists to reduce the world population and Asia and Africa are their main targets.

 

[Bewal Express]

It's inevitable the country will eventually default and there will be mass civil unrest and people starving .

But this is a global plan as well to reduce population don't be surprised In near future when you have Ethiopian or yemen like situation In pakistan kids dying from hunger and people eating leaves .

Question remains when the attack dogs attack and carve up the country like usa nato and India.

The generals will ultimately be forced to dismantle the nuclear programme.

India also wants to amend the Indus water treaty which will inevitably cause more water stress for Pakistan and reduce food production .

And since pakistan can't afford fuel and fertiliser prices farmers were struggling anyhow .

220 million plus 40 million + Afghans cannot be sustained by our agriculture.

It's a global plan by zionists to reduce the world population and Asia and Africa are their main targets.

The plan to destroy PK is made by own Generals and their helpers from the family businesses.

 

[wasim-fan]

It's inevitable the country will eventually default and there will be mass civil unrest and people starving .

But this is a global plan as well to reduce population don't be surprised In near future when you have Ethiopian or yemen like situation In pakistan kids dying from hunger and people eating leaves .

Question remains when the attack dogs attack and carve up the country like usa nato and India.

The generals will ultimately be forced to dismantle the nuclear programme.

India also wants to amend the Indus water treaty which will inevitably cause more water stress for Pakistan and reduce food production .

And since pakistan can't afford fuel and fertiliser prices farmers were struggling anyhow .

220 million plus 40 million + Afghans cannot be sustained by our agriculture.

It's a global plan by zionists to reduce the world population and Asia and Africa are their main targets.

Chalo. Yeh bhi thik hai. Zionist forced Pakistan to subsidize fuel, to build an import based economy, to let military establishment rule the roost.

 

[mazkhan]

These losers creating destructive records by the day. With this massive devaluation inflation will hit 50% in Ramadan and petrol will have to go up massively along with all the essentials. Bajwa and his crooks have destroyed PK economy. The Hafiz has continued the same policies

It would have been the same under ik

Because due to ukraine invasion fuel , energy prices rocketed , edible oil and grain also increased.
Along with price and shortage of fertiliser.

Also ik would have been hamstrung by the same imf conditions and cold shoulder from so called brotherly countries .

Ik is lucky he was removed or otherwise he would be facing a similar situation.

 

[mazkhan]

Chalo. Yeh bhi thik hai. Zionist forced Pakistan to subsidize fuel, to build an import based economy, to let military establishment rule the roost.

We simply don't have the enlightend or educated population to move towards a hi tech innovation and cutting edge manufacturing economy even the UK doesn't have that anymore and is more service and finance based.

Pakistan relied on agriculture and low tech textiles
Only decent thing we produced is sports equipment and some medical tools

Since our agriculture has been failing over the years and floods we are not self sufficient in edible oil cotton or wheat etc.

Our textile industry was always on cliff edge since energy and raw product import could always cripple it as we have seen under the crooks today

 

[Bewal Express]

It would have been the same under ik

Because due to ukraine invasion fuel , energy prices rocketed , edible oil and grain also increased.
Along with price and shortage of fertiliser.

Also ik would have been hamstrung by the same imf conditions and cold shoulder from so called brotherly countries .

Ik is lucky he was removed or otherwise he would be facing a similar situation.

Maybe and maybe not. But with a free floating exchange rate we wouldnt have reserves of $3bn and remittances would have crashed because of the duality of the real and faked exchange rate. The rp wouldnt be at 280+ and inflation wouldnt have been 40% +. and Exports wouldnt have droped like they have. IK warned Bajwa that economy was too weak to stand shocks like these that the traitors planned and as always he was right.

 

[Bewal Express]

It would have been the same under ik

Because due to ukraine invasion fuel , energy prices rocketed , edible oil and grain also increased.
Along with price and shortage of fertiliser.

Also ik would have been hamstrung by the same imf conditions and cold shoulder from so called brotherly countries .

Ik is lucky he was removed or otherwise he would be facing a similar situation.

Maybe and maybe not. But with a free floating exchange rate we wouldnt have reserves of $3bn and remittances would have crashed because of the duality of the real and faked exchange rate. The rp wouldnt be at 280+ and inflation wouldnt have been 40% +. and Exports wouldnt have droped like they have. IK warned Bajwa that economy was too weak to stand shocks like these that the traitors planned and as always he was right.

 

[wasim-fan]

Maybe and maybe not. But with a free floating exchange rate we wouldnt have reserves of $3bn and remittances would have crashed because of the duality of the real and faked exchange rate. The rp wouldnt be at 280+ and inflation wouldnt have been 40% +. and Exports wouldnt have droped like they have. IK warned Bajwa that economy was too weak to stand shocks like these that the traitors planned and as always he was right.

In terms of parameters it’s fair to say PDM has made it worse. I don’t believe there is any way around this. Although the issue is structural. IK would have only delayed the trouble at best. Let’s also not forget that he subsidized oil prices while seeking IMF loan knowing fully well the economic consequences. For record, in neighborhood, not one country is subsidizing fuel and their fiscal situation is better than Pakistan.

So, I know for some the issue is political. For me it’s plain and simple misplaced priorities of 70 years. Lack of critical reasoning and education in the system. Over zealous and bloated army establishment. Building the nation into a security state for ransom. Radicalization through religion. And above fabricated history. A civilization that doesn’t address its history correctly cannot chart it’s future appropriately.

 

[Colorblind Genius]

It would have been the same under ik

Because due to ukraine invasion fuel , energy prices rocketed , edible oil and grain also increased.
Along with price and shortage of fertiliser.

Also ik would have been hamstrung by the same imf conditions and cold shoulder from so called brotherly countries .

Ik is lucky he was removed or otherwise he would be facing a similar situation.

By that logic, every third world country would’ve been standing at the brink of bankruptcy just as Pakistan is.

Show me a few other countries who lost THIS MUCH PERCENT of their reserves in such a quick time because of “Russian invasion on Ukraine”?

 

[wasim-fan]

We simply don't have the enlightend or educated population to move towards a hi tech innovation and cutting edge manufacturing economy even the UK doesn't have that anymore and is more service and finance based.

Pakistan relied on agriculture and low tech textiles
Only decent thing we produced is sports equipment and some medical tools

Since our agriculture has been failing over the years and floods we are not self sufficient in edible oil cotton or wheat etc.

Our textile industry was always on cliff edge since energy and raw product import could always cripple it as we have seen under the crooks today

Then taking responsibility is the first step. Post partition Pakistan received 17% of resources and 33% of army. Tells you root of the problem.

If the country didn’t invest in education and chose to build bloated army establishment, how is this fault of Zionist. You know the state of education, innovation and start up in the Zionist land. By simply blaming everyone else for root issues that have not been addressed, the country has deluded itself beyond a point of reckoning.

Without food on the table, you won’t need Zionist or India to start secessionist movements. Every failed economy causes stress in the nation state. Question is why did the elites not build strong economy. Why were there not land reforms in Pakistan when India did it post partition ? How long will you keep looking at external actors ? Bangladesh is classic example of what can be achieved when priorités are set right.

On population, it’s funny to hear some folks talk about great demographics. Pakistan’s population is growing 3 times faster than India. It’s going to double in next 20 years. Without economic growth what will we do with all these young people. More than 50% of youth in Pakistan are not in school.

 

[MenInG]

<blockquote class="twitter-tweet" data-partner="tweetdeck"><p lang="en" dir="ltr">Total mismanagement of our economy by a corrupt & incompetent imported govt has crushed masses & salaried class with latest hike in petrol & diesel prices & Rs33/$ devaluation to Rs262.6/$. Elec & gas price hike & 35% unprecedented inflation expected with Rs200bn mini budget.</p>— Imran Khan (@ImranKhanPTI) <a href="https://twitter.com/ImranKhanPTI/status/1619616555045904385?ref_src=twsrc%5Etfw">January 29, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[wasim-fan]

<blockquote class="twitter-tweet" data-partner="tweetdeck"><p lang="en" dir="ltr">Total mismanagement of our economy by a corrupt & incompetent imported govt has crushed masses & salaried class with latest hike in petrol & diesel prices & Rs33/$ devaluation to Rs262.6/$. Elec & gas price hike & 35% unprecedented inflation expected with Rs200bn mini budget.</p>— Imran Khan (@ImranKhanPTI) <a href="https://twitter.com/ImranKhanPTI/status/1619616555045904385?ref_src=twsrc%5Etfw">January 29, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

He might say good time to subsidize oil and reduce inflation.

 

[Bewal Express]

In terms of parameters it’s fair to say PDM has made it worse. I don’t believe there is any way around this. Although the issue is structural. IK would have only delayed the trouble at best. Let’s also not forget that he subsidized oil prices while seeking IMF loan knowing fully well the economic consequences. For record, in neighborhood, not one country is subsidizing fuel and their fiscal situation is better than Pakistan.

So, I know for some the issue is political. For me it’s plain and simple misplaced priorities of 70 years. Lack of critical reasoning and education in the system. Over zealous and bloated army establishment. Building the nation into a security state for ransom. Radicalization through religion. And above fabricated history. A civilization that doesn’t address its history correctly cannot chart it’s future appropriately.

Our biggest problem is the appallingly low level of exports and IK realised this and managed to get Our textiles working and exporting and a real effort was made to increase exports across the board. Our mafia families have no interest in real reforms and they along with the Generals are holding PK hostage. Bar IKs 3 years, they have been in power for nearly 70 years and they will never relinquish power without a fight.

 

[dildilpak]

Our biggest problem is the appallingly low level of exports and IK realised this and managed to get Our textiles working and exporting and a real effort was made to increase exports across the board. Our mafia families have no interest in real reforms and they along with the Generals are holding PK hostage. Bar IKs 3 years, they have been in power for nearly 70 years and they will never relinquish power without a fight.

Lets face it. Exports were never propping up Pakistan, debt was. Endless amounts of debt servicing which could never be matched by even record export money pouring in. And Pakistan did try to increase exports via CPEC but ended up with more debts and pretty much nothing else!

China has pulled the plug on Pakistan after taking them to the brink. SA is only pouring in token amount. IMF is the only available source of money, but they will demand austerity which will be really hard on the population. And IK’s stunt of taking money from IMF and providing fuel subsidies has made things much harder - in an election year, IMF thinks it is not beyond the present govt to do that again.

The only option any Pakistani govt will have will be to accept IMF’s severe conditions or declare sovereign bankruptcy. In a way, IK is lucky not to be facing this choice - his image would have taken a beating like nothing else.

 

[Bewal Express]

Lets face it. Exports were never propping up Pakistan, debt was. Endless amounts of debt servicing which could never be matched by even record export money pouring in. And Pakistan did try to increase exports via CPEC but ended up with more debts and pretty much nothing else!

China has pulled the plug on Pakistan after taking them to the brink. SA is only pouring in token amount. IMF is the only available source of money, but they will demand austerity which will be really hard on the population. And IK’s stunt of taking money from IMF and providing fuel subsidies has made things much harder - in an election year, IMF thinks it is not beyond the present govt to do that again.

The only option any Pakistani govt will have will be to accept IMF’s severe conditions or declare sovereign bankruptcy. In a way, IK is lucky not to be facing this choice - his image would have taken a beating like nothing else.

I disagree that debt servicing is the problem in isolation. Our total external debt is around $125bn which by most Standards is pretty low. Our problem is that we never used the borrowed billions into productive industries and things like Dams and Universities. Our Politicians and Generals treated the loans as a free money.
We have a natural advantage in textiles, we have cotton and we have the businesses to be able to supply the world with clothes. Our exports in this area alone should be well $50bn and what's more if we built dams, not only would have cheap electricity for most of the year, we would produced enough food for ourselves and exports to the middle East. A criminal elite without any humanity, morals or respect for the law has put PK on the brink of catastrophe. The Generals have learnt nothing and their pathetic machinations have brought us to that edge.

 

[the Great Khan]

I disagree that debt servicing is the problem in isolation. Our total external debt is around $125bn which by most Standards is pretty low. Our problem is that we never used the borrowed billions into productive industries and things like Dams and Universities. Our Politicians and Generals treated the loans as a free money.
We have a natural advantage in textiles, we have cotton and we have the businesses to be able to supply the world with clothes. Our exports in this area alone should be well $50bn and what's more if we built dams, not only would have cheap electricity for most of the year, we would produced enough food for ourselves and exports to the middle East. A criminal elite without any humanity, morals or respect for the law has put PK on the brink of catastrophe. The Generals have learnt nothing and their pathetic machinations have brought us to that edge.

I dont need to say anymore frankly..

But coming to the point that IK would have had the same problem...well that's not true. They knew petrol prices were going to come down.. just listen to their assessments. They thought May or July but it's happened a bit later..that wouldn't have been as bad as now. IK would also have managed to get some oil from Russia and further investment from the saudis.

He gave us hope...I had this idea that the country was on the path and one day I would be able to come back..but it's a pipe dream now..my dad used to say it but inqould have hope..inshould have listened to him..

He used to say they betrayed jinnah..and he was right..when we are I our 60's our kids kids will be on this forum fighting the same stupid fight..

 

[ARK Rafay]

Darkest Era in terms of economy in Pakistan's history

 

[Kianig89]

Pakistan Daku Movement succeded in their mission, Dollar at 270, Onion at 280, Gold per tola 207k, Petrol 250. A complete disaster

 

[Kianig89]

Where are PP's Simia and Equus ala [MENTION=131701]Mamoon[/MENTION] [MENTION=135038]Major[/MENTION] to enlighten us

 

[Bewal Express]

Where are PP's Simia and Equus ala [MENTION=131701]Mamoon[/MENTION] [MENTION=135038]Major[/MENTION] to enlighten us

Watch them come back after some audio or video leak. This is beyond their intellect

 

[Bewal Express]

Where are PP's Simia and Equus ala [MENTION=131701]Mamoon[/MENTION] [MENTION=135038]Major[/MENTION] to enlighten us

Watch them come back after some audio or video leak. This is beyond their intellect

 

[Colorblind Genius]

Pakistani currency devalued the most in the entire world under PDM. It dropped to a whopping 18% while the next in line at no 2 was Bangladeshi currency that dropped by 2%

So the gap between the number 1 and number 2 is 16%.
These are unreal figures.

 

[Savak]

Hafeez Sheikh doesn't get enough credit. Under him our FX reserves rose from $6-8 billion to $27 billion at one point in 2021. He handled the economy well during tough circumstances.

 

[Bewal Express]

Hafeez Sheikh doesn't get enough credit. Under him our FX reserves rose from $6-8 billion to $27 billion at one point in 2021. He handled the economy well during tough circumstances.

Munshi has destroyed everything

 

[the Great Khan]

Munshi has destroyed everything

I remember having a discussion with two former army officers about 4 years ago just as Khan was getting settled in. One was a medical doctor and our discussion was centred around healthcare in pak and how it could be improved. Reasonable stuff..except for his "The NHS isn't as great as yu make out which I corrected him on"...with colonel sahib it was hard work..the man was adamant Khan was an idiot and the pmln shabaz were competent because he turned lahore into Paris..

I assume this line of thinking has a large base in the fauj amongst some of our officers. Unfortunately many now occupation the main positions. I truly wish gen tariq had become the chief. Instead we got this lot..

 

[Savak]

I remember having a discussion with two former army officers about 4 years ago just as Khan was getting settled in. One was a medical doctor and our discussion was centred around healthcare in pak and how it could be improved. Reasonable stuff..except for his "The NHS isn't as great as yu make out which I corrected him on"...with colonel sahib it was hard work..the man was adamant Khan was an idiot and the pmln shabaz were competent because he turned lahore into Paris..

I assume this line of thinking has a large base in the fauj amongst some of our officers. Unfortunately many now occupation the main positions. I truly wish gen tariq had become the chief. Instead we got this lot..

The army especially the lower and mid level ranks is not exactly pro PML N, it's mostly pro pti. Unfortunately Bajwa and his senior millitary cabal have left no stone unturned to try to silence and in case they cannot silence then weed out pro pti army officers. Many retired army officers have had their pensions, medical and other recreational benefits halted for openly supporting IK and not toeing the Bajwa line.

Current army officers are scared to openly talk about their feelings and are paranoid about the messes, their cellphones, computers being monitored and the fact that they could be asked to show their YouTube browsing history, whatsapp conversations at a moments notice.

You can only suppress people for so long. Yahya Khan after the surrender of East Pakistan wanted to appoint himself as President of Pakistan for the next 5 years. His plans were thwarted because there was a massive mutiny in the army by the junior, mid level officers against him and his fellow senior troika of generals and he had no choice but to resign and hand over power to Bhutto.

 

[ex-q-zit]

IMF Bailout Conditions "Beyond Imagination", Will Have To Agree: Pak PM

Pakistan's Prime Minister Shehbaz Sharif said Friday that the government would have to agree to IMF bailout conditions that are "beyond imagination". An International Monetary Fund (IMF) delegation landed in Pakistan on Tuesday for last ditch talks to revive vital financial aid which has stalled for months.

The government has held out against tax rises and subsidy slashing demanded by the IMF, fearful of backlash ahead of elections due in October.

"I will not go into the details but will only say that our economic challenge is unimaginable. The conditions we will have to agree to with the IMF are beyond imagination. But we will have to agree with the conditions," Mr Sharif said in televised comments.

Pakistan's economy is in dire straits, stricken by a balance of payments crisis as it attempts to service high levels of external debt, amid political chaos and a deteriorating security situation.

The country's central bank said Thursday its foreign exchange reserves had dropped again to $3.1 billion dollars, which analysts said was enough for less than three weeks of imports.

On Wednesday, year-on-year inflation had risen to a 48-year high leaving Pakistanis struggling to afford basic food items.

Ahead of the IMF visit, Islamabad began to bow to pressure with the prospect of national bankruptcy looming and no friendly countries willing to offer less painful bailouts.

The government loosened controls on the rupee to rein in a rampant black market in US dollars, a step that caused the currency to plunge to a record low. Artificially cheap petrol prices have also been hiked.

The world's fifth-biggest population is no longer issuing letters of credit, except for essential food and medicines, causing a backlog of thousands of shipping containers at Karachi port stuffed with stock the country can no longer afford.

Political chaos

The tumbling economy mirrors the country's political chaos, with former prime minister Imran Khan heaping pressure on the ruling coalition in his bid for early elections while his popularity remains high.

Mr Khan, who was ousted last year in a no-confidence motion, negotiated a multi-billion-dollar loan package from the IMF in 2019.

But he reneged on promises to cut subsidies and market interventions that had cushioned the cost-of-living crisis, causing the programme to stall.

It is a common pattern in Pakistan, where most people live in rural poverty, with more than two dozen IMF deals brokered and then broken over the decades.

NDTV

 

[Bewal Express]

Rp against the £ is 330. Let that sink in. Through 70 years of mafia rule, we are now doomed to spending the decades under the control of the families and the Generals

 

[wasim-fan]

Fun fact :- Between 1990 and 2022 Pakistan gdp grew more than 6% only two times in 2004 and 2005. Meanwhile India and Bangladesh grew more than 6% in 20 years during that time.

This is 13 th IMF bail out for Pakistan. Pakistan approaches IMF every 3-4 years.

When Zaidi said two years back that the country is bankrupt, people criticized him. Truth is it’s complete messed up structural failure. It has no solution to solve its circular debt situation. There are no new investments happening. But population is fastest growing.

It’s better to distract the people with politics, war or religion. Reality is so stark that I don’t think anyone can take it.

 

[wasim-fan]

This is great discussion between Miftah and Atif Miya. Atif was supposed to be brought by IK. But god forbid, he is an Ahmediyya. The most pre eminent economist from Pakistan can’t help Pakistan because of his belief system. Question is can such a country be saved.

https://youtube.com/live/pMn7jA0DwKY?feature=shares

 

[Bewal Express]

This is great discussion between Miftah and Atif Miya. Atif was supposed to be brought by IK. But god forbid, he is an Ahmediyya. The most pre eminent economist from Pakistan can’t help Pakistan because of his belief system. Question is can such a country be saved.

https://youtube.com/live/pMn7jA0DwKY?feature=shares

Atif has no magic wand that will make any difference. Its not rocket science -As a country put all the criminals in jail and hang their handlers. Make a determined effort to export everything we can, even give free electricity( or give at least grants in solar power projects) for our textile industry. Force farmers in cotton growing areas to grow cotton and get exports of textiles towards $50bn. And build the kalabagh dam ASAP. No easy way out after 70 years rule by a self serving mafia running the benefit of 15,000 people.

 

[Syed1]

Fun fact :- Between 1990 and 2022 Pakistan gdp grew more than 6% only two times in 2004 and 2005. Meanwhile India and Bangladesh grew more than 6% in 20 years during that time.

This is 13 th IMF bail out for Pakistan. Pakistan approaches IMF every 3-4 years.

When Zaidi said two years back that the country is bankrupt, people criticized him. Truth is it’s complete messed up structural failure. It has no solution to solve its circular debt situation. There are no new investments happening. But population is fastest growing.

It’s better to distract the people with politics, war or religion. Reality is so stark that I don’t think anyone can take it.

Also funfact when were the other two consecutive years in which Pakistan achieved growth of greater than 5.5% ? That's right when IK was PM. Sharif worshippers will conveniently skip that fact.

Secondly you mention Atif Mian was fired by IK because of his faith. So IK didn't know about his faith when he appointed Mian? It was the beloved Sharif khandaan and PML-N that initiated protests in conjunction with mullahs right when IK formed the cabinet, and IK didn't want turbulence right at the beginning of his government.

 

[wasim-fan]

Also funfact when were the other two consecutive years in which Pakistan achieved growth of greater than 5.5% ? That's right when IK was PM. Sharif worshippers will conveniently skip that fact.

Secondly you mention Atif Mian was fired by IK because of his faith. So IK didn't know about his faith when he appointed Mian? It was the beloved Sharif khandaan and PML-N that initiated protests in conjunction with mullahs right when IK formed the cabinet, and IK didn't want turbulence right at the beginning of his government.

Oh my gladiator. https://www.voanews.com/a/pakistani-government-criticized-for-removing-ahmadi-economist/4562808.html

Now I never blamed IK for removing him. IK was the one who considered him as the best man for the job. But the country is Jaahil, what can be done.

On your other point, you can bring the benchmark to 3 % if you want an even better story for IK. Its true he did reasonable in 2022. 2021 was pure base effect from 2020. If you don't get it, read up on it.

 

[wasim-fan]

Atif has no magic wand that will make any difference. Its not rocket science -As a country put all the criminals in jail and hang their handlers. Make a determined effort to export everything we can, even give free electricity( or give at least grants in solar power projects) for our textile industry. Force farmers in cotton growing areas to grow cotton and get exports of textiles towards $50bn. And build the kalabagh dam ASAP. No easy way out after 70 years rule by a self serving mafia running the benefit of 15,000 people.

One can be determined as one wants but competence is not developed overnight. Overnight one doesn't become energy independent. Rarely have countries overcome bane of circular debt. To think that solution to these complex problems already there, we just can't implement it is simplistic. Even IK knows it. Its just that he can't engage his supporters in complex nature of the problem. He simplifies it to keep the message simple. Great minds are needed to solve complex issues.

 

[wasim-fan]

When India was on verge of bankruptcy, whom did they turn to save them. An intellectual economist. Manmohan Singh. Not asking what his religion is. Whom did Pakistan turn to ?

 

[Bewal Express]

One can be determined as one wants but competence is not developed overnight. Overnight one doesn't become energy independent. Rarely have countries overcome bane of circular debt. To think that solution to these complex problems already there, we just can't implement it is simplistic. Even IK knows it. Its just that he can't engage his supporters in complex nature of the problem. He simplifies it to keep the message simple. Great minds are needed to solve complex issues.

We don't have the political will and institutional capacity to do it, not because we don't know that it has to be done. We have a govt and elite that doesn't give too figs about PK, its what is commonly called a lootocracy. To them the average man is just trash, it's basically the continuation of the Raj but by the locals.
This nonsense that Atif was the solution to our problems shows how bereft of ideas we have become. And as pointed out it was your Noora friends that started the campaign against him. The irony was that one of the Qadyanis posters on here blamed IK and started to support the Nooras. Figure that one out.

 

[hoshiarpurexpress]

do not see any way Pakistan can recover from this. The national assets will be sold and Pakistan will be the slave of IMF. No foreign company is willing to invest in Pakistan.

 

[RajBan]

do not see any way Pakistan can recover from this. The national assets will be sold and Pakistan will be the slave of IMF. No foreign company is willing to invest in Pakistan.

They are usually very resilient and their elites ability to get loans and grants collectively from all forces US, West, China and ME is legendary.

 

[Cover Drive Six]

do not see any way Pakistan can recover from this. The national assets will be sold and Pakistan will be the slave of IMF. No foreign company is willing to invest in Pakistan.

Even if IMF program resumes, it won't fix all the problem since the issues plaguing Pakistan are political not just economic.

The World Bank has estimated that at least $16 billion is needed to cope with damage and losses.

 

[wasim-fan]

On export and import numbers as % of GDP, here it

So it seems both in terms of exports and imports 2005 was the best year.

Pakistan Imports - Historical Data
Year Billions of US $ % of GDP
2021 $69.04B 19.93%
2020 $52.33B 17.42%
2019 $62.62B 19.51%
2018 $67.82B 19.04%
2017 $58.51B 17.25%
2016 $50.07B 15.96%
2015 $46.13B 17.05%
2014 $45.59B 18.66%
2013 $46.37B 20.06%
2012 $45.79B 20.41%
2011 $40.52B 18.97%
2010 $34.29B 19.35%
2009 $33.09B 19.68%
2008 $39.48B 23.21%
2007 $30.14B 19.78%
2006 $29.58B 21.55%
2005 $21.42B


Pakistan Exports - Historical Data
Year Billions of US $ % of GDP
2021 $34.57B 9.98%
2020 $27.94B 9.30%
2019 $30.14B 9.39%
2018 $30.56B 8.58%
2017 $27.89B 8.22%
2016 $27.40B 8.74%
2015 $28.69B 10.60%
2014 $29.92B 12.24%
2013 $30.70B 13.28%
2012 $27.82B 12.40%
2011 $29.83B 13.97%
2010 $23.95B 13.52%
2009 $20.84B 12.40%
2008 $21.06B 12.38%
2007 $20.14B 13.21%
2006 $19.40B 14.13%
2005 $17.18B 14.31%

 

[the Great Khan]

do not see any way Pakistan can recover from this. The national assets will be sold and Pakistan will be the slave of IMF. No foreign company is willing to invest in Pakistan.

I can almost feel the joy and glee in your post. This time will pass too. Its bad. Very bad but the nation will overcome it. As Khan showed with some deft management and smart leadership Pakistan can easily grow at 6 and above..

 

[Kianig89]

Very tough now for layman in Pakistan, naan @Rs30, cup of Tea 60 fried egg 35, Local Biryani plate 250, Samosa@ 50. Just imagine it's bonkers

 

[ahsan17]

I can almost feel the joy and glee in your post. This time will pass too. Its bad. Very bad but the nation will overcome it. As Khan showed with some deft management and smart leadership Pakistan can easily grow at 6 and above..

I do remember Indians telling how PDM would have been so much better and competent than PTI. Now it's obvious what their motives were for wanting PDM in power.

 

[Bewal Express]

I can almost feel the joy and glee in your post. This time will pass too. Its bad. Very bad but the nation will overcome it. As Khan showed with some deft management and smart leadership Pakistan can easily grow at 6 and above..

It's the reason why they wanted these thugs back. Ind has won( the destruction of our economy) without firing a bullet.

 

[ahsan17]

It's the reason why they wanted these thugs back. Ind has won( the destruction of our economy) without firing a bullet.

These things are usually temporary and can be recovered from in not a very long time.

If there's anything good to come out of this, PDM tried to bite more than it could chew by removing IK. They took short term gain for long term pain for their brand, and now their brand is tarnished for the foreseeable future.

 

[Bewal Express]

These things are usually temporary and can be recovered from in not a very long time.

If there's anything good to come out of this, PDM tried to bite more than it could chew by removing IK. They took short term gain for long term pain for their brand, and now their brand is tarnished for the foreseeable future.

PKs have short memories. They are going nowhere because the basic premise of our economy isn't strong and with the mafia media behind them, they will show everything under IK to be on the edge. I don't see improvements coming

Things will get worse and then stabilise at that point but the Average person can never get back on their feet without leaving PK.

 

[wasim-fan]

PDM or PTI, the choices would have been the same. IMF would have put the same conditions. Both were pushing for IMF loan. PTI was subsidizing fuel while also pursuing IMF loan. I would love someone to explain this economic logic. Usually countries approach IMF when they don’t have conventional alternatives for funding. However PTI wasn’t trying to control currency like PDM, which was the right decision. PDM has screwed up reserves situation.

Let’s be very clear. Pakistan economy is addicted to loan because of structural issues. Even 8% GDP growth will need IMF loan to fund it. So the inflation and BoP crisis is inevitable and long term decline unavoidable unless structural issues are addressed. Pakistan has gone to IMF 22 times.

 

[Colorblind Genius]

PDM or PTI, the choices would have been the same. IMF would have put the same conditions. Both were pushing for IMF loan. PTI was subsidizing fuel while also pursuing IMF loan. I would love someone to explain this economic logic. Usually countries approach IMF when they don’t have conventional alternatives for funding. However PTI wasn’t trying to control currency like PDM, which was the right decision. PDM has screwed up reserves situation.

Let’s be very clear. Pakistan economy is addicted to loan because of structural issues. Even 8% GDP growth will need IMF loan to fund it. So the inflation and BoP crisis is inevitable and long term decline unavoidable unless structural issues are addressed. Pakistan has gone to IMF 22 times.

So it’s not IK and PTI’s fault that the economy is in shambles and inflation has gone thru the roof?

At least that’s what Shehbaz Shareef said to be the case. Do you disagree with him?


And what happened with the foreign reserve depletion under PDM?
And did you notice IMF stated that they don’t trust Shehbaz Shareef and ishaq dar? Did IMF say the same about IK and his finance ministers?

 

[hoshiarpurexpress]

I can almost feel the joy and glee in your post. This time will pass too. Its bad. Very bad but the nation will overcome it. As Khan showed with some deft management and smart leadership Pakistan can easily grow at 6 and above..

I take no joy but there is no pain in this for me.
If Pakistan had fought India in terms of technological advancements, science and human development instead of Guns and Tanks, situation in subcontinent would have been different.
The paranoia of Pakistan has resulted in current situation. Yahood or Hanood cannot be blamed for this situation.

 

[wasim-fan]

So it’s not IK and PTI’s fault that the economy is in shambles and inflation has gone thru the roof?

At least that’s what Shehbaz Shareef said to be the case. Do you disagree with him?


And what happened with the foreign reserve depletion under PDM?
And did you notice IMF stated that they don’t trust Shehbaz Shareef and ishaq dar? Did IMF say the same about IK and his finance ministers?

Unfortunately, this is not just PDM's fault. People deserve the govt they get. If Imran Khan can subsidize oil when he doesn't have money, then I cannot put the entire blame on one party. It's too simplistic.

I think all in all the blame is on the people of Pakistan including overseas. When one doesn't ask the right questions, when one doesn't address the right concerns, when one has misplaced sense of understanding of oneself and one's history, when one doesn't learn from one's mistakes, it is a collective failure.

The issues are rooted in the very formation of Pakistan. Elite capture, rent seeking and army stronghold were established in it's foundations. Once the foundations are weak, the structure cannot be strong.

 

[the Great Khan]

I take no joy but there is no pain in this for me.
If Pakistan had fought India in terms of technological advancements, science and human development instead of Guns and Tanks, situation in subcontinent would have been different.
The paranoia of Pakistan has resulted in current situation. Yahood or Hanood cannot be blamed for this situation.

It's got nothing to do with paranoia when India kills 70k people including children in a school..and invades Pakistan three times. We aren't interested in competing with yu. We just want you to stop threatening us. Our economic woes have nothing to do with India.

 

[the Great Khan]

Unfortunately, this is not just PDM's fault. People deserve the govt they get. If Imran Khan can subsidize oil when he doesn't have money, then I cannot put the entire blame on one party. It's too simplistic.

I think all in all the blame is on the people of Pakistan including overseas. When one doesn't ask the right questions, when one doesn't address the right concerns, when one has misplaced sense of understanding of oneself and one's history, when one doesn't learn from one's mistakes, it is a collective failure.

The issues are rooted in the very formation of Pakistan. Elite capture, rent seeking and army stronghold were established in it's foundations. Once the foundations are weak, the structure cannot be strong.

That's what your are reduced to now..blame the foundation. The fact is every problem has a solution but the pdm don't care. At least try but they don't care..

 

[wasim-fan]

That's what your are reduced to now..blame the foundation. The fact is every problem has a solution but the pdm don't care. At least try but they don't care..

Simplistic framing of the problem is one of the core reasons for Pakistan's predicament. And yes, when one is in deep deep trouble, one has to a short term resolution i.e. IMF loan. And long term structural reform, which includes cleaning up foundational issues.

 

[Colorblind Genius]

Unfortunately, this is not just PDM's fault. People deserve the govt they get. If Imran Khan can subsidize oil when he doesn't have money, then I cannot put the entire blame on one party. It's too simplistic.

I think all in all the blame is on the people of Pakistan including overseas. When one doesn't ask the right questions, when one doesn't address the right concerns, when one has misplaced sense of understanding of oneself and one's history, when one doesn't learn from one's mistakes, it is a collective failure.

The issues are rooted in the very formation of Pakistan. Elite capture, rent seeking and army stronghold were established in it's foundations. Once the foundations are weak, the structure cannot be strong.

So then, why there was a need to topple PTI govt?
Because IK subsidized oil prices that shielded the nation from inflation? But mysteriously he also managed to increase the foreign reserve and foreign investment (in correspondence to your hogwash of him not having the money)?

So, PDM toppled PTI, removed the oil subsidiary and crushed the nation under inflation, and depleted the entire $22 billion foreign reserves. Is that why PDM took over?

 

[the Great Khan]

So then, why there was a need to topple PTI govt?
Because IK subsidized oil prices that shielded the nation from inflation? But mysteriously he also managed to increase the foreign reserve and foreign investment (in correspondence to your hogwash of him not having the money)?

So, PDM toppled PTI, removed the oil subsidiary and crushed the nation under inflation, and depleted the entire $22 billion foreign reserves. Is that why PDM took over?

You will not get an answer. Except it was IK's fault. By the aay can somebody who is well versed in economics explain why our reserved have deplet3d so quickly? And why aren't they going up?

I mean Khan had to face a pandemic Indian attack bankruptcy yet managed to give people in punjab and kp universal health , welfare programmes, bijli gas , jobs..but he was a danger to Pakistan because he gave the average Joe hope..and the current choars don't want them to have hope because then who will wash their cars and cook for them?

 

[wasim-fan]

So then, why there was a need to topple PTI govt?
Because IK subsidized oil prices that shielded the nation from inflation? But mysteriously he also managed to increase the foreign reserve and foreign investment (in correspondence to your hogwash of him not having the money)?

So, PDM toppled PTI, removed the oil subsidiary and crushed the nation under inflation, and depleted the entire $22 billion foreign reserves. Is that why PDM took over?

Let me explain. Pakistan is a fiscal deficit economy. When the GDP grows, the fiscal deficit increases. This is the structure of the economy. In this structure of economy, when the country is asking IMF for loan ( which is lender of last resort ), IK chooses to increase subsidy on fuel. This is like asking a local Pathan for loan while mortgaging your house. But you also admit your child to an international school because you think he deserves a great school.

In a financially unsound country, this kind of political gimmicks further sinks the economy. It was a great political move which effectively forced the increase on PDM. But it was a bad economic decision.

 

[RajBan]

Let me explain. Pakistan is a fiscal deficit economy. When the GDP grows, the fiscal deficit increases. This is the structure of the economy. In this structure of economy, when the country is asking IMF for loan ( which is lender of last resort ), IK chooses to increase subsidy on fuel. This is like asking a local Pathan for loan while mortgaging your house. But you also admit your child to an international school because you think he deserves a great school.

In a financially unsound country, this kind of political gimmicks further sinks the economy. It was a great political move which effectively forced the increase on PDM. But it was a bad economic decision.

Thats were PDM has missed the trick. They should have let IK continue after massive reduction on fuel.

 

[Colorblind Genius]

Let me explain. Pakistan is a fiscal deficit economy. When the GDP grows, the fiscal deficit increases. This is the structure of the economy. In this structure of economy, when the country is asking IMF for loan ( which is lender of last resort ), IK chooses to increase subsidy on fuel. This is like asking a local Pathan for loan while mortgaging your house. But you also admit your child to an international school because you think he deserves a great school.

In a financially unsound country, this kind of political gimmicks further sinks the economy. It was a great political move which effectively forced the increase on PDM. But it was a bad economic decision.

So his "political gimmicks" were about to fall out, but PDM took over JUST IN TIME to get all the heat?
By the way, how was IK INCREASING THE OIL SUBSIDARY AND INCREASING THE FOREIGN RESERVES at the same time? He got it to $22 Billion. How?

Can PDM pull the same "political gimmick" and increase the foreign reserve back to $22 Billion and give oil subsidiary AT THE SAME TIME? Please?

Thats were PDM has missed the trick. They should have let IK continue after massive reduction on fuel.

lol exactly.
We should all give a fair round of applause with big claps to PDM for taking over from PIT and taking all the heat from the public.

Good Job PDM for being sympathetic enough to IK and PTI, and you guys shielded IK/PTI from public anger by taking it upon yourselves.

It looks like PDM is true hard fan and true supporter and a well wisher of PTI/IK than any one of us can ever be.

 

[uppercut]

You will not get an answer. Except it was IK's fault. By the aay can somebody who is well versed in economics explain why our reserved have deplet3d so quickly? And why aren't they going up?

Iam not an expert in economics by any means but countries build up foreign reserves by exporting more goods, natural resources and services to other nations than importing these from other nations assuming that all transactions are happening in US Dollars which is the defacto reserve currency of the world due to its supposed stability( and therefore the #1 reason for Americas prosperity ).

 

[mazkhan]

Give it a few years people in pakistan will go back In time and start living before pakistan was created back to the old days the days of bava ji.

These crooks and globalist masters will make modern living unbearable people will have no choice but to go back in time and be self sufficient in producing their own food at home .

Wealth won't be in bank balances but how many goats and camels and cows one has.

What munshi has done to the rupiah you might as well burn it to cook roti

 

[wasim-fan]

So his "political gimmicks" were about to fall out, but PDM took over JUST IN TIME to get all the heat?
By the way, how was IK INCREASING THE OIL SUBSIDARY AND INCREASING THE FOREIGN RESERVES at the same time? He got it to $22 Billion. How?

Can PDM pull the same "political gimmick" and increase the foreign reserve back to $22 Billion and give oil subsidiary AT THE SAME TIME? Please?




lol exactly.
We should all give a fair round of applause with big claps to PDM for taking over from PIT and taking all the heat from the public.

Good Job PDM for being sympathetic enough to IK and PTI, and you guys shielded IK/PTI from public anger by taking it upon yourselves.

It looks like PDM is true hard fan and true supporter and a well wisher of PTI/IK than any one of us can ever be.

You have conceptual misunderstanding. Govt doesn’t pay for subsidy from foreign reserves. They pay from their fiscal deficit.

 

[Colorblind Genius]

You have conceptual misunderstanding. Govt doesn’t pay for subsidy from foreign reserves. They pay from their fiscal deficit.

Yep, you and PDM has all the understanding. And pretty evident when we see the situation on ground zero under PDM command.

 

[Bewal Express]

You have conceptual misunderstanding. Govt doesn’t pay for subsidy from foreign reserves. They pay from their fiscal deficit.

Low Foreign reserves lead to a loss of confidence, low confidence means a depreciation and depreciation means higher price at the pump and else where. This drives down tax revenues AS GROWTH DROPS and the deficit increases and then you have to cut subsidies. Maybe you need to go back to school and understand that they are all related and cant be taken in isolation.

 

[Syed1]

Unfortunately, this is not just PDM's fault. People deserve the govt they get. If Imran Khan can subsidize oil when he doesn't have money, then I cannot put the entire blame on one party. It's too simplistic.

I think all in all the blame is on the people of Pakistan including overseas. When one doesn't ask the right questions, when one doesn't address the right concerns, when one has misplaced sense of understanding of oneself and one's history, when one doesn't learn from one's mistakes, it is a collective failure.

The issues are rooted in the very formation of Pakistan. Elite capture, rent seeking and army stronghold were established in it's foundations. Once the foundations are weak, the structure cannot be strong.

Expected redirection from a Sharif supporter. PTI and IK had only set aside 50-60b for the petrol subsidy. It is PDM who removed his government and then were scared to remove the subsidy which led it to ballooning to over Rs300b. Even that is not a huge amount for even Pakistan. Less than $2b for 2022 exchange rate (almost $1b now thanks to your PDM government).


The bigger jolt has been the sharp decline in exports and remittances. That is all due to PDM policies. Both metrics were showing double digit growth under PTI. You can't just brush PDM failures with PTI just because it suits your agenda.


Reading your post it seems everybody and their aunt is responsible for the economic mess except for the Sharif khandaan who have had four terms in office since 1990. Do remember not everyone subscribes to Sharif worship like you do.

 

[Major]

You have conceptual misunderstanding. Govt doesn’t pay for subsidy from foreign reserves. They pay from their fiscal deficit.

PTI fans never talk logically or reasonably. There response would be, Nani, sharif, bilo, zardari, etc.......

Not once have I seen them respond logically and on topic. They use these 3-4 phrases

 

[wasim-fan]

QUOTE=Colorblind Genius;11744709]Yep, you and PDM has all the understanding. And pretty evident when we see the situation on ground zero under PDM command.[/QUOTE]

Nope. It’s basic economics. To import oil country uses FX reserves. If oil prices and fx is impacted, reserves are impacted. If the govt decides to subsidize this oil to final consumer, this is additional impact in local currency managed through fiscal space ie tax payer money. IK while negotiating with IMF for loan ( usually only financially troubled countries go to IMF ) violated one of basic conditions of IMF and subsidized oil for the people. The same thing was done by Sri Lanka leading to their eventual bankruptcy.

I see lot of PTI supporters hell bent on defending everything about messiah. Further highlights my point of death of critical reasoning. People get the army and politicians they deserve.

 

[wasim-fan]

Expected redirection from a Sharif supporter. PTI and IK had only set aside 50-60b for the petrol subsidy. It is PDM who removed his government and then were scared to remove the subsidy which led it to ballooning to over Rs300b. Even that is not a huge amount for even Pakistan. Less than $2b for 2022 exchange rate (almost $1b now thanks to your PDM government).


The bigger jolt has been the sharp decline in exports and remittances. That is all due to PDM policies. Both metrics were showing double digit growth under PTI. You can't just brush PDM failures with PTI just because it suits your agenda.


Reading your post it seems everybody and their aunt is responsible for the economic mess except for the Sharif khandaan who have had four terms in office since 1990. Do remember not everyone subscribes to Sharif worship like you do.

You keep repeating the same nonsense. I don’t care for Sharif or IK. They are public servants. You are too caught up in political partisan contest. Your goal should be accountability. Yes, I thought Shabaz Sharif could do better but he hasn’t delivered. And as it happens in democracy he should go.

For the record, I have said that Ik should come back in free and fair election and dismantle the establishment. Only he could do this. But that doesn’t mean everything he touches is gold. He should also be held accountable. He should be able to select the brightest and best minds from across the world.

 

[Bewal Express]

PTI fans never talk logically or reasonably. There response would be, Nani, sharif, bilo, zardari, etc.......

Not once have I seen them respond logically and on topic. They use these 3-4 phrases

You mean you do by justifying the crooked actions of criminals hated by PKs. So tell us any achievement of these thugs. The forum is yours

 

[Bewal Express]

QUOTE=Colorblind Genius;11744709]Yep, you and PDM has all the understanding. And pretty evident when we see the situation on ground zero under PDM command.

Nope. It’s basic economics. To import oil country uses FX reserves. If oil prices and fx is impacted, reserves are impacted. If the govt decides to subsidize this oil to final consumer, this is additional impact in local currency managed through fiscal space ie tax payer money. IK while negotiating with IMF for loan ( usually only financially troubled countries go to IMF ) violated one of basic conditions of IMF and subsidized oil for the people. The same thing was done by Sri Lanka leading to their eventual bankruptcy.

I see lot of PTI supporters hell bent on defending everything about messiah. Further highlights my point of death of critical reasoning. People get the army and politicians they deserve.[/QUOTE]

You said there was no link between Reserves and subsidies and in a few sentences I educated you. So stop pretending that you actually know what you are talking about. You may know more than Dar and Miftah but 99% of PKs know more than these useless clowns

 

[Syed1]

You keep repeating the same nonsense. I don’t care for Sharif or IK. They are public servants. You are too caught up in political partisan contest. Your goal should be accountability. Yes, I thought Shabaz Sharif could do better but he hasn’t delivered. And as it happens in democracy he should go.

For the record, I have said that Ik should come back in free and fair election and dismantle the establishment. Only he could do this. But that doesn’t mean everything he touches is gold. He should also be held accountable. He should be able to select the brightest and best minds from across the world.

Says " Yes, I thought Shabaz Sharif could do better but he hasn’t delivered." )

But don't call him a patwari. Only someone drunk on Sharif love would have thought that Shahbaz Sharif would have been a better PM than IK. Now that reality has slapped you on the face you are running away from your patwarism.

No patwari, not matter how big of a Sharif lover can deny Rs 300/$. Plummeting exports, remittances, foreign reserves and economic growth. Now that you cannot deny these obvious facts you conveniently stopped being a Sharif lover. Aisay kaisay xx