Pakistan economy under the PDM government & now the caretaker administration

[Savak]

Glad that the nonsense of Shabhaz Speed, Excellent World Class Administrator has been brutally exposed in the last 10 months. All i have seen is a clueless, indecisive, incompetent individual who requires a choosni 24/7.

 

[Savak]

According to media reports, the IMF wants the Pakistani govt to not only significantly reduce the Defense Budget, but they want the govt to get rid of all the Army Recreational Clubs where the member of the Pakistan armed forces enjoy special privileges, discounted rates as part of the austerity measures. The IMF also wants the Pakistani govt to privatize all loss making govt institutions.

 

[hoshiarpurexpress]

According to media reports, the IMF wants the Pakistani govt to not only significantly reduce the Defense Budget, but they want the govt to get rid of all the Army Recreational Clubs where the member of the Pakistan armed forces enjoy special privileges, discounted rates as part of the austerity measures. The IMF also wants the Pakistani govt to privatize all loss making govt institutions.

Looks like IMF is controlled by Indians. Gita Gopinath pulling some strings through his network ?

 

[Clueless]

Turkey rebuffed Shahbaz Sharif

 

[Hextro]

‘Discrepancy’ of Rs320b accepted

ISLAMABAD: The federal statistical discrepancy – a term used to describe untraceable expenses or unknown revenues – shot up dangerously to nearly Rs320 billion during the first half of this fiscal year, admitted the Ministry of Finance on Wednesday.

The fiscal operations summary report for the July-December 2022 period showed that due to a huge discrepancy, the federal government’s total expenses did not match with its current expenditures – causing another inconsistency in numbers.

The report showed that there was no trace of Rs319.6 billion of the federal government’s spending or revenues, which the finance ministry has described as a “statistical discrepancy”, reflecting the poor working of the finance ministry’s budget wing.

As a result, the federal government’s total expenditure has been shown at Rs4.247 trillion – Rs147 billion less than the current expenses of Rs4.390 trillion, as shown by the finance ministry.

The huge discrepancies raise questions over the credibility of the figures released by the ministry, a dilemma that the International Monetary Fund (IMF) is also facing.

The report showed that interest expenses have shot-up significantly to Rs2.57 trillion during the first half of this fiscal year. This equals 65% of the annual debt servicing budget; an alarming increase of 77% in the cost of interest on the federal government’s debt stock.

Domestic debt servicing stood at Rs2.27 trillion or equal to 88.3% of total debt servicing. External debt servicing amounted to Rs300 billion; a 152% increase compared to the same period a year ago.

Development expenses amounted to only Rs162 billion in six months – equal to only 6.2% of the debt servicing cost.

Pakistan has informed the IMF that the cost of debt servicing may rise to nearly Rs5.2 trillion in this fiscal year – equalling more than half of this year’s total budget of Rs9.6 trillion.

Despite the precarious situation, the finance ministry seems to be indifferent towards the biggest challenge threatening the country’s long-term viability. There is an urgent need to restructure domestic debt and create some fiscal space – this can also strengthen Pakistan’s case for foreign debt restructuring.

In view of this, Prime Minister Shehbaz Sharif has appointed seven more members to the federal cabinet, taking the total to 85 – including special assistants. While these special assistants are said to be appointed on ‘pro bono basis’, they still avail official vehicles, offices, staff and residences.

Excluding military pensions and expenses on the armed forces development programme, Rs638 billion was spent on defence in six months – Rs118 billion or nearly 23% more than last year. The annual stated defence budget is Rs1.563 trillion and six-month spending is in line with the allocation.

With a net income of Rs2.46 trillion, accumulative spending on debt servicing and defence jumped to over Rs3.2 trillion – 130% or Rs749 billion more than the government’s net income – suggesting that Pakistan will remain debt trapped as expenses are not being curtailed.

Compared to the Rs3.2 trillion spent on debt servicing and defence, only Rs162 billion was spent on development. All the other expenses of the government amounted to Rs1.1 trillion, down compared to the previous year. The cost of running the civil government was only Rs227 billion in six months, while subsidies amounted to Rs197 billion.

Under the IMF programme, Pakistan has committed converting the primary deficit, calculated after excluding interest payments, into a surplus of 0.2% of GDP, down from last fiscal year’s 3.6%. As a result of uncontrolled spending, however, the government will miss the deficit target agreed upon with the lender.

The federal budget deficit widened to nearly Rs1.8 trillion in the first six months of the current fiscal year, as the gap between expenses and revenues was equal to 2% of the GDP.

During the current fiscal year, the government’s total expenditure shot up to nearly Rs4.24 trillion – thanks to the huge statistical discrepancy. Current expenditure, however, only rose to over Rs4.4 trillion. Gross revenues swelled to Rs4.34 trillion and Rs1.9 trillion of the federal tax share was transferred to the provinces.

According to the finance ministry, the statistical discrepancy occurred due to a Rs319 billion addition in the cash deposits of the government and its entities. It added that the deposits have jumped from Rs2 trillion to Rs2.3 trillion, causing a reduction in the overall expenses. These deposits have been identified as part of the IMF’s conditions to implement a Treasury Single Account (TSA).

https://tribune.com.pk/story/2400197/discrepancy-of-rs320b-accepted

 

[Hextro]

I have an honest question for PDM supporters, why is the combination of criminals you support so incompetent? I remember PMLN and PPP being atrocious in every way when they were in power between 2008-18 but their recent performance has been mind-blowingly bad. There have been no redeeming factors for this government.

They have been worse than PTI in almost every way.

 

[MenInG]

Pakistan’s foreign exchange reserves held by the central bank decreased by $170 million to $2.9 billion in the week ending on February 3, the State Bank of Pakistan (SBP) said on Thursday.

The country is locked in negotiations with the International Monetary Fund (IMF) to release much-needed money under a stalled bailout programme.

 

[Bewal Express]

Pakistan’s foreign exchange reserves held by the central bank decreased by $170 million to $2.9 billion in the week ending on February 3, the State Bank of Pakistan (SBP) said on Thursday.

The country is locked in negotiations with the International Monetary Fund (IMF) to release much-needed money under a stalled bailout programme.

So General Bajwa is this how you stop overheating? The duffer destroyed PK

 

[Clueless]

Who said peak inflation is 50%.. I am sure you can score centuries in inflation

 

[Bewal Express]

Who said peak inflation is 50%.. I am sure you can score centuries in inflation

You can I am sure these crooks will manage it

 

[Syed1]

You can I am sure these crooks will manage it

Funny how the folks on here who keep barking against overseas and kept supporting PDM, they are the ones who will be feeling the burnt of this inflation. While overseas be like



My heart goes out to the poor of Pakistan whose lives have been completely destroyed by these cabal of crooks. Even if today IK comes back its going to take 3-4 years for the economy to return to the state it was in early 2022.

 

[MenInG]

Sovereign bonds slumped on Friday after Pakistan’s bailout talks with the IMF ended without an agreement.

The country’s bond due for repayment the soonest, in April 2024, tumbled 4.6 cents on the dollar or roughly nine per cent.

Other bonds with longer repayment dates fell between two and three cents to leave them at less than half their face value.

The country is in the middle of a dollar shortage, which is causing a depreciation in the rupee’s value against the greenback.

DAWN

 

[MenInG]

Global rating agency Fitch on Tuesday downgraded Pakistan’s long-term foreign currency issuer default rating (IDR) to ‘CCC-’ from ‘CCC+’, citing further worsening in liquidity and policy risks along with pressure on foreign exchange reserves.

The drop comes four months after Fitch revised down the ranking to CCC+.

The agency did not assign any outlook since typically it does not assign outlooks to sovereigns with a rating of ‘CCC+’ or below.

 

[Kianig89]

The death of Pakistan's low middle class with petrol surged to 282, Sale Tax @18%, where is Pakistan heading, electricity peak hrs 1800-2230 @Rs.42/-unit, 10% capital tax to restaurants & wedding halls, why not make use of sunlight and remodel business timings, petrol slabs for private vehicles > 1000cc

 

[mazkhan]

There will be pain but there will light at the end of the tunnel.

Austerity inflation is a world a wide problem .

Pmln had no choice the forex have dried up there's no money for imports and raw materials


I'm happy the goverment is going back to cheaper domestic coal and afghan coal imported.

Lng Is unaffordable .

As for petrol it should be rationed to essential workers and key industries these people who are living in pakistan sitting on their hands all day and leaching of relatives sending money from abroad shouldn't be driving around in corollas , prados , vigos it's time these people start paying their taxes Like we do in uk people in uk who are unemployed can't even dream of affording a car or eating in fancy restaurants or having weddings in shadi halls and living in 3/4 story villas built on chacha driving taxi in Sheffield or british born Masayr sending drug money .

 

[Kianig89]

It's all crumbled Pakistan economy literally done and dusted mafias and cartel slaughtering the masses

 

[Bewal Express]

There will be pain but there will light at the end of the tunnel.

Austerity inflation is a world a wide problem .

Pmln had no choice the forex have dried up there's no money for imports and raw materials


I'm happy the goverment is going back to cheaper domestic coal and afghan coal imported.

Lng Is unaffordable .

As for petrol it should be rationed to essential workers and key industries these people who are living in pakistan sitting on their hands all day and leaching of relatives sending money from abroad shouldn't be driving around in corollas , prados , vigos it's time these people start paying their taxes Like we do in uk people in uk who are unemployed can't even dream of affording a car or eating in fancy restaurants or having weddings in shadi halls and living in 3/4 story villas built on chacha driving taxi in Sheffield or british born Masayr sending drug money .

Stop posting on stuff you got no idea about. You ran away a few times already making out that these fools have got the faintest idea what they are doing. In March PK economy was growing at 6%, the exports had risen by a 1/3rd and we had 16bn as resrves and then your idiots came in and all hell broke lose. According to Miftah and anyone with a brain cell,Dar lost $7bn because he tried to peg the exchange rate wepl below the market rate ,$7bn we couldn't afford to lose and more than twice our current reserves. Only a total idiot would think that these losers know what they are doing. And it's not isolation, Dar had don't immense damage the last time and IK took the blame for your incompetence.

 

[Kianig89]

Silicon tube increased from Rs. 440 to 550, Papri which is used in Chaat increased from 160/kg to 300/kg, these are just random examples

 

[hoshiarpurexpress]

Was checking something and found out that 1 Afghan Afghani equals 2.91 Pakistani Rupee
what the hell ? How in the world has that happened ?

 

[RajBan]

Was checking something and found out that 1 Afghan Afghani equals 2.91 Pakistani Rupee
what the hell ? How in the world has that happened ?

How is that even possible? Surely ppp value is different?

 

[hoshiarpurexpress]

Pakistan Defence Minister acknowledges country has already gone bankrupt

Pakistan's Defence Minister Khawaja Asif suggested that one-fourth of Pakistan's debt could be paid off if only two golf clubs built on expensive government land are sold, media reports said.

Pakistan's Defence Minister Khawaja Asif suggested on Saturday that one-fourth of Pakistans debt could be paid off if only two golf clubs built on expensive government land are sold, media reports said.

The minister acknowledged that the country has already gone bankrupt, and that the solution to the country's problems lies within the country, and not with the International Monetary Fund (IMF), Samaa TV reported.

He also blamed the establishment, bureaucracy, and politicians for the current economic situation.

Asif revealed that he has been in the Parliament for 33 years and had witnessed the country's politics being disgraced for 32 of those years.

The PML-N leader also pointed out that golf clubs had been built on government land, and that selling two of them would reduce one-fourth of Pakistan's debt, Samaa TV reported.

Asif also expressed his condolences for the loss of personnel in the fight against terrorism, saying that security agencies are working tirelessly to combat the issue.

He claimed that terrorists were allowed to settle in the country two years ago.

Asif also said that Prime Minister Shehbaz Sharif will announce major austerity measures in all government institutions to control the fiscal deficit by minimising government expenditures, The Express Tribune reported.

Meanwhile, the opposition also proposed to the government to take some bold decisions and implement austerity measures to cut its expenditures in order to steer the country out of the economic crisis.

Opposition leader Shahzad Waseem said that the rulers had closed corruption cases involving Rs 1,100 billion and the Pakistani people were bearing the brunt of it. He also expressed fear that the new budgetary measures would stoke inflation, The Express Tribune reported.

--IANS

https://www.business-standard.com/a...has-already-gone-bankrupt-123021800629_1.html

 

[Kianig89]

So industries and factories shutting down in a spin, John Maynard Keynes ala Dollar Dar's criminal negligence has plunded this country into hell

 

[Cover Drive Six]

Was checking something and found out that 1 Afghan Afghani equals 2.91 Pakistani Rupee
what the hell ? How in the world has that happened ?

Who cares about Afghan currency.

They have zero value.

 

[Varun]

Was checking something and found out that 1 Afghan Afghani equals 2.91 Pakistani Rupee
what the hell ? How in the world has that happened ?

Well 1 INR = 1.62 Japanese Yen, so don't read too much into this.

 

[Bewal Express]

Pakistan Defence Minister acknowledges country has already gone bankrupt

Pakistan's Defence Minister Khawaja Asif suggested that one-fourth of Pakistan's debt could be paid off if only two golf clubs built on expensive government land are sold, media reports said.

Pakistan's Defence Minister Khawaja Asif suggested on Saturday that one-fourth of Pakistans debt could be paid off if only two golf clubs built on expensive government land are sold, media reports said.

The minister acknowledged that the country has already gone bankrupt, and that the solution to the country's problems lies within the country, and not with the International Monetary Fund (IMF), Samaa TV reported.

He also blamed the establishment, bureaucracy, and politicians for the current economic situation.

Asif revealed that he has been in the Parliament for 33 years and had witnessed the country's politics being disgraced for 32 of those years.

The PML-N leader also pointed out that golf clubs had been built on government land, and that selling two of them would reduce one-fourth of Pakistan's debt, Samaa TV reported.

Asif also expressed his condolences for the loss of personnel in the fight against terrorism, saying that security agencies are working tirelessly to combat the issue.

He claimed that terrorists were allowed to settle in the country two years ago.

Asif also said that Prime Minister Shehbaz Sharif will announce major austerity measures in all government institutions to control the fiscal deficit by minimising government expenditures, The Express Tribune reported.

Meanwhile, the opposition also proposed to the government to take some bold decisions and implement austerity measures to cut its expenditures in order to steer the country out of the economic crisis.

Opposition leader Shahzad Waseem said that the rulers had closed corruption cases involving Rs 1,100 billion and the Pakistani people were bearing the brunt of it. He also expressed fear that the new budgetary measures would stoke inflation, The Express Tribune reported.

--IANS

https://www.business-standard.com/a...has-already-gone-bankrupt-123021800629_1.html

70 years of mafia rule and this is the result

 

[Colorblind Genius]

70 years of mafia rule and this is the result

Not only that but it’s ALL THE FAULT OF three years govt of PTI.

And this dumb eff Khawaja siraa Asif should be put to task to find a buyer who would buy the two golf courses for 55 BILLION US dollars.

 

[Kianig89]

Price of Cigarettes insanity from 260 a pack to 500, PDM has no hope even smokers have lost faith in them

 

[Bewal Express]

Price of Cigarettes insanity from 260 a pack to 500, PDM has no hope even smokers have lost faith in them

Smokers are in chains

 

[hoshiarpurexpress]

Indian media is reporting that Pakistan ISI budget has been cut by 50%. Some ISI missions abroad are about to be closed due to funding crunch.
Generals are not happy and are planning to change the Shareef Govt also.
Not sure how much of it is true.

 

[Hextro]

If PMLN couldn't run the economy during the golden period of 2013-18 you can't expect them to run it well during a period of global crises. PDM lucked out with PTI winning the 2018 election. If either of PPP and PMLN were ruling during 2018-22 Pakistan would've already defaulted.

 

[karthikc]

The true long-term solution is to bring stable democracy..That is the starting point..and then start structural economic reforms..

 

[Kianig89]

Disaster there is no respite for the masses , Naan @Rs. 30, Milk that too contaminated @180, Ghee @ 600, normal poultry feed sky rocketed since regime change from 3800 to 7000. A third rate paint gallon jumped form 1800 to 2900 since regime change, Cement jumped from 770 to 1070, Sand Trolley from 4000 to 6500. Sarya from 150k ton to 295k ton. Alto new from 1.3m to 2.5m and so and so
Faculty from Yale and Santa Clara are invited to make a case study from Pakistan, perplexed regime change A curious case of quaky economy

 

[Colorblind Genius]

Disaster there is no respite for the masses , Naan @Rs. 30, Milk that too contaminated @180, Ghee @ 600, normal poultry feed sky rocketed since regime change from 3800 to 7000. A third rate paint gallon jumped form 1800 to 2900 since regime change, Cement jumped from 770 to 1070, Sand Trolley from 4000 to 6500. Sarya from 150k ton to 295k ton. Alto new from 1.3m to 2.5m and so and so
Faculty from Yale and Santa Clara are invited to make a case study from Pakistan, perplexed regime change A curious case of quaky economy

Hand it over to Bajwa. He said he changed the regime to save Pakistan. Let him face the public and save it now.

 

[MenInG]

Pakistan’s foreign exchange reserves held by the central bank rose by $66 million to $3.258 billion in the week ending February 17, the State Bank of Pakistan (SBP) said on Thursday.

The SBP said total liquid foreign reserves stood at $8.726 billion.

 

[Kianig89]

Petrol mafia still Hunched on price hikes the reason being devaluation of rupee, Pakistan' regression has made it like Ethiopia or Somalia nonetheless the elite is busy dining in restaurants and riding their sexy vehicles it's the masses who burdened with all these livelihood issues

 

[wasim-fan]

Quickest path to recovery seems to be to default early and set the country on path of reforms. Default is inevitable. It's a crippled economy. It grows on imports and trade imbalance. There are two possible destinations. Afghanistan or Indonesia. If everything gets done right, Indonesia model is definitely possible. But I wouldn't bet on it. The blood feud political system and myopic Ill informed awaam along with crony Establishment. Tough to see how this comes through.

 

[Colorblind Genius]

Quickest path to recovery seems to be to default early and set the country on path of reforms. Default is inevitable. It's a crippled economy. It grows on imports and trade imbalance. There are two possible destinations. Afghanistan or Indonesia. If everything gets done right, Indonesia model is definitely possible. But I wouldn't bet on it. The blood feud political system and myopic Ill informed awaam along with crony Establishment. Tough to see how this comes through.

Your PDM leaders are trying their level best to sell every possible Pakistani resource to pocket the IMF loan.

Soon as that money lands - these PDM imbecile are ready to hog on it like wild boars.

If they didn’t care for the country n it’s people in the last 70 years, you will be fool to think they will do it now.

 

[wasim-fan]

Your PDM leaders are trying their level best to sell every possible Pakistani resource to pocket the IMF loan.

Soon as that money lands - these PDM imbecile are ready to hog on it like wild boars.

If they didn’t care for the country n it’s people in the last 70 years, you will be fool to think they will do it now.

As I was mentioning, blood feud politics and I’ll informed awaam.

 

[Syed1]

The biggest cop out by PDM lovers is that economy would have been in the same shape had IK been PM.


They are forgetting that not everyone is as misinformed as them. While IK was PM the economy was growing at 6% and exports and remittances were hitting record numbers both of which have shown sharp decline since PDM took over. Funny these PDM lovers never talk with numbers but with random opinions presented as facts.


I guess you have to be quite simple minded to think that economy's destruction is not down to PDM policies

 

[offstump]

Genius financial whiz Ishaq Dar tweeting “AlhamdoLilah” (never seen it spelt that way either) because China loaned us $700 million at an exhorbiant interest rate lol. The beggar is cheering as if he won the lottery. What a begharat this man and his party is, on top of being a complete idiot mind you.

 

[Colorblind Genius]

Genius financial whiz Ishaq Dar tweeting “AlhamdoLilah” (never seen it spelt that way either) because China loaned us $700 million at an exhorbiant interest rate lol. The beggar is cheering as if he won the lottery. What a begharat this man and his party is, on top of being a complete idiot mind you.

All the haram khores in PDM and their supporters will now be looking for quick ways to get a piece of the pie from 700 million dollars.

 

[daytrader]

PM REVISES OFFICE TIMINGS UNDER HIS AUSTERITY PLAN

The government under its austerity plan has announced working hours in offices from 7:30 in the morning to cut expenses and conserve electricity, ARY News reported on Sunday.

The federal cabinet’s all members have opted to work voluntarily without salaries and other official perks to save 200 billion rupees in a year under the prime minister’s austerity plan.

The government has also announced to return back luxury vehicles given to all cabinet members. The cabinet has also banned its members stay in five-star hotels during their overseas visits.

Prime minister Shehbaz Sharif last Wednesday announced an austerity plan to save the national resources.

The PM said that austerity is the top priority of his government and the need of the hour.

He said that life has become tougher for the poo. “We have to learn lessons from the past and move forward”, he said. “The elite have to play pivotal role as the entire nation is looking at us,” he said.

ARY

 

[Colorblind Genius]

PM REVISES OFFICE TIMINGS UNDER HIS AUSTERITY PLAN

The government under its austerity plan has announced working hours in offices from 7:30 in the morning to cut expenses and conserve electricity, ARY News reported on Sunday.

The federal cabinet’s all members have opted to work voluntarily without salaries and other official perks to save 200 billion rupees in a year under the prime minister’s austerity plan.

The government has also announced to return back luxury vehicles given to all cabinet members. The cabinet has also banned its members stay in five-star hotels during their overseas visits.

Prime minister Shehbaz Sharif last Wednesday announced an austerity plan to save the national resources.

The PM said that austerity is the top priority of his government and the need of the hour.

He said that life has become tougher for the poo. “We have to learn lessons from the past and move forward”, he said. “The elite have to play pivotal role as the entire nation is looking at us,” he said.

ARY

Knowing our people - 99% will take advantage to get off early - and only 1% will start early at 7:30

 

[Bewal Express]

PM REVISES OFFICE TIMINGS UNDER HIS AUSTERITY PLAN

The government under its austerity plan has announced working hours in offices from 7:30 in the morning to cut expenses and conserve electricity, ARY News reported on Sunday.

The federal cabinet’s all members have opted to work voluntarily without salaries and other official perks to save 200 billion rupees in a year under the prime minister’s austerity plan.

The government has also announced to return back luxury vehicles given to all cabinet members. The cabinet has also banned its members stay in five-star hotels during their overseas visits.

Prime minister Shehbaz Sharif last Wednesday announced an austerity plan to save the national resources.

The PM said that austerity is the top priority of his government and the need of the hour.

He said that life has become tougher for the poo. “We have to learn lessons from the past and move forward”, he said. “The elite have to play pivotal role as the entire nation is looking at us,” he said.

ARY

Out of 181 MNAs, around 120 have been given positions from cabinet, to Ministers without anything all the way to Chairman of committees. These crooked thugs have destroyed PK

 

[mazkhan]

The biggest cop out by PDM lovers is that economy would have been in the same shape had IK been PM.


They are forgetting that not everyone is as misinformed as them. While IK was PM the economy was growing at 6% and exports and remittances were hitting record numbers both of which have shown sharp decline since PDM took over. Funny these PDM lovers never talk with numbers but with random opinions presented as facts.


I guess you have to be quite simple minded to think that economy's destruction is not down to PDM policies

Ik would have faced the same inflation , record lng energy prices.
Imports

And the closure of textiles which relies on imported material machinery and energy .

Plus the floods which damaged significant crops and cotton as well and has caused the prices to rise with imports , afghan iran smuggling indian produce at high prices.

And the imf playing hardball and demanding crippling taxes and austerity



Army had to act because ik tried to turn into Mr rogue like kim Jong un the country would have been sanctioned by the west and they would have forced the gcc to turn on pakistan as well where most pakistanis are employed and remittances come from they don't come from ******* social media trolls like you sitting in the west.

Even uk which I believe is 6th biggest economy you have people in work poverty and energy poverty

 

[Syed1]

Ik would have faced the same inflation , record lng energy prices.
Imports

And the closure of textiles which relies on imported material machinery and energy .

Plus the floods which damaged significant crops and cotton as well and has caused the prices to rise with imports , afghan iran smuggling indian produce at high prices.

And the imf playing hardball and demanding crippling taxes and austerity



Army had to act because ik tried to turn into Mr rogue like kim Jong un the country would have been sanctioned by the west and they would have forced the gcc to turn on pakistan as well where most pakistanis are employed and remittances come from they don't come from ******* social media trolls like you sitting in the west.

Even uk which I believe is 6th biggest economy you have people in work poverty and energy poverty

Woulda Coulda Shoulda.... reality is economy was growing at 6% when IK was PM and you lovers of a "special" biryani took it to negative. Don't run mouth, talk with facts.

 

[mazkhan]

Woulda Coulda Shoulda.... reality is economy was growing at 6% when IK was PM and you lovers of a "special" biryani took it to negative. Don't run mouth, talk with facts.

Inflation was increasing as well even under ik.

Hence why ik kept the fuel subsidy because he didn't want to burden the public more

Also ukraine war caused massive inflation worldwide it caused massive problems in price rises in the west . Lng shot through the roof and is unaffordable.

So pti ******* haven't given us any ideas how ik would have stopped that or the natural disaster caused by the flood .

Just all diversion tactics like American cipher and putin was going to give us discounted oil gas . And how would we get this oil and gas from Russia so far away we don't even have the terminals like India does.

Even if ik got discounted oil and gas , the eu would have sanctioned us and textile imports would be impaired anyway since they are a big market.

And it was ik who signed the imf programme anyway look at their demands why would those demands be any different for pti.

 

[Syed1]

Inflation was increasing as well even under ik.

Hence why ik kept the fuel subsidy because he didn't want to burden the public more

Also ukraine war caused massive inflation worldwide it caused massive problems in price rises in the west . Lng shot through the roof and is unaffordable.

So pti ******* haven't given us any ideas how ik would have stopped that or the natural disaster caused by the flood .

Just all diversion tactics like American cipher and putin was going to give us discounted oil gas . And how would we get this oil and gas from Russia so far away we don't even have the terminals like India does.

Even if ik got discounted oil and gas , the eu would have sanctioned us and textile imports would be impaired anyway since they are a big market.

And it was ik who signed the imf programme anyway look at their demands why would those demands be any different for pti.

Long, incoherent rant but no response to 6% growth rate under IK and negative under PDM. Like I said talk with facts munnay

 

[Bewal Express]

Inflation was increasing as well even under ik.

Hence why ik kept the fuel subsidy because he didn't want to burden the public more

Also ukraine war caused massive inflation worldwide it caused massive problems in price rises in the west . Lng shot through the roof and is unaffordable.

So pti ******* haven't given us any ideas how ik would have stopped that or the natural disaster caused by the flood .

Just all diversion tactics like American cipher and putin was going to give us discounted oil gas . And how would we get this oil and gas from Russia so far away we don't even have the terminals like India does.

Even if ik got discounted oil and gas , the eu would have sanctioned us and textile imports would be impaired anyway since they are a big market.

And it was ik who signed the imf programme anyway look at their demands why would those demands be any different for pti.

Do we need to give you an education lesson on economics and morality every other week. PK economy was stable under IK, there was not even talk of default, Growth was 6%, Exports had gone up by a 1/3rd, CAD was stable and had been in surplus, remittances had grown by a large percentage, the poor were given free health care, Ehsaas programme was internationally recognised and PK had led the World in its response to Corona. And then look at the situation today Rp at 270, exports down, Petrol at record levels, Growth is zero, inflation at 50% and reserves of 2bn.
It takes a particularly ignorant person to even compare the 2. This disaster will never be forgotten or forgiven and yesterdays bye election showed why you are running from elections

 

[Colorblind Genius]

Ik would have faced the same inflation , record lng energy prices.
Imports

And the closure of textiles which relies on imported material machinery and energy .

Plus the floods which damaged significant crops and cotton as well and has caused the prices to rise with imports , afghan iran smuggling indian produce at high prices.

And the imf playing hardball and demanding crippling taxes and austerity



Army had to act because ik tried to turn into Mr rogue like kim Jong un the country would have been sanctioned by the west and they would have forced the gcc to turn on pakistan as well where most pakistanis are employed and remittances come from they don't come from ******* social media trolls like you sitting in the west.

Even uk which I believe is 6th biggest economy you have people in work poverty and energy poverty

So then what’s the benefit of bringing PDM into power?

What these haram khores did differently other than depleting 22 billion forex in 9 months?

OR. You are saying that the PDM imbeciles sacrificed their political careers by shielding IK and taking the blame of hyper inflation upon themselves?

 

[mazkhan]

Do we need to give you an education lesson on economics and morality every other week. PK economy was stable under IK, there was not even talk of default, Growth was 6%, Exports had gone up by a 1/3rd, CAD was stable and had been in surplus, remittances had grown by a large percentage, the poor were given free health care, Ehsaas programme was internationally recognised and PK had led the World in its response to Corona. And then look at the situation today Rp at 270, exports down, Petrol at record levels, Growth is zero, inflation at 50% and reserves of 2bn.
It takes a particularly ignorant person to even compare the 2. This disaster will never be forgotten or forgiven and yesterdays bye election showed why you are running from elections

Typical pti social media attack troll like the pti parliamentarian attack troll the plastic waxwork murad saeed.

Inflation was going up under pti in 2021 into 2022 the fuel subsidy reneging on imf agreement

Here's the link

https://theprint.in/go-to-pakistan/...-of-pti-govt-ghee-oil-prices-add-fire/756803/


A Deutsche Welle article quoted a local Islamabad butcher, Afaq Ahmad, as saying that there have been no customers. “I voted for Imran Khan in 2018 and I am regretting my decision. Before his government, things were going good but there is tension everywhere now

Here is the link to this

https://frontline.thehindu.com/disp...fers-under-high-inflation/article37136095.ece


That's why ik committed suicide by going to Russia and trying to turn all revolutionary he knew everything was going to come down like a pack of cards so he went anti military . And if his goverment was still in power you still haven't told us why our exports textiles still would not have collapsed due to the ukraine situation which caused huge increases in energy and raw material inflation and the devastating floods which destroyed any cotton we produce over 40% was wiped out.

 

[wasim-fan]

Actually Shabbar Zaidi had said in Dec'2021, that Pakistan is bankrupt. Unfortunately they put too much pressure on him and he was forced to retract.

https://www.dawn.com/news/1664147

IK or anyone cannot change the issue unless the boom and bust cycle of Pakistan's economy is sorted. This may all be too dense for PTI ******* to understand. But for other 6 % GDP growth rate is good for most countries except for Pakistan which doesn't produce much. Its grows off imports. GDP = Consumption + Investments + Savings + ( Export - Import ). In Pakistan's case, it is import - exports. It doesn't include liquidity. Which is precisely why Pakistan is unique country that can go bankrupt even when its growing economy.

It will take massive reform to change this. IK provides simplistic messages for his burger bachhey because complexity of this problem is hard to absorb. This is something all politicians do because it is always good have sheep that will follow you no matter what. The incentive structure in Pak economy only allows investment in real estate and in productive sectors.

This is Spanish guy does a much better job in explaining the economic mess of Pakistan that all the literate kids who are really angry but don't know what they are talking about.

https://www.youtube.com/watch?v=iY5MJFizzk8&t=1179s

 

[Syed1]

Actually Shabbar Zaidi had said in Dec'2021, that Pakistan is bankrupt. Unfortunately they put too much pressure on him and he was forced to retract.

https://www.dawn.com/news/1664147

IK or anyone cannot change the issue unless the boom and bust cycle of Pakistan's economy is sorted. This may all be too dense for PTI ******* to understand. But for other 6 % GDP growth rate is good for most countries except for Pakistan which doesn't produce much. Its grows off imports. GDP = Consumption + Investments + Savings + ( Export - Import ). In Pakistan's case, it is import - exports. It doesn't include liquidity. Which is precisely why Pakistan is unique country that can go bankrupt even when its growing economy.

It will take massive reform to change this. IK provides simplistic messages for his burger bachhey because complexity of this problem is hard to absorb. This is something all politicians do because it is always good have sheep that will follow you no matter what. The incentive structure in Pak economy only allows investment in real estate and in productive sectors.

This is Spanish guy does a much better job in explaining the economic mess of Pakistan that all the literate kids who are really angry but don't know what they are talking about.

https://www.youtube.com/watch?v=iY5MJFizzk8&t=1179s

PDM supporters trying to cope )


Still no answer to why economy was growing at 6% when IK was PM and negative now.

 

[Kianig89]

No. Of beggars on roads and bazaars have multiplied, unemployment is at its peak, price of items arbitrary gst pst fed wht plethora of taxes

 

[MenInG]

Another Gold Medal to PDM

==

Global rating agency Moody’s on Tuesday cut Pakistan’s sovereign credit rating by two more notches to ‘Caa3’ — the lowest in three decades — amid international loan negotiations, saying the country’s increasingly fragile liquidity “significantly raises default risks”.

 

[wasim-fan]

PDM supporters trying to cope )


Still no answer to why economy was growing at 6% when IK was PM and negative now.

I did answer with economic axioms. But it was deleted. You can ask the mods.

 

[Syed1]

Negative growth, 40% inflation rate, Rs 270/$, 19% interest rate, plummeting exports and remittance, Moody's rating at WORST EVER for Pakistan - still PDM uncles have the audacity to bark. Bhai moh bund rakho!




Notice how it was B3-stable while PTI was in government.... now down to CAA3-stable. If this too hard for a simpleton PDM supporter to understand then I can dumb it down for them further.

 

[Bewal Express]

Typical pti social media attack troll like the pti parliamentarian attack troll the plastic waxwork murad saeed.

Inflation was going up under pti in 2021 into 2022 the fuel subsidy reneging on imf agreement

Here's the link

https://theprint.in/go-to-pakistan/...-of-pti-govt-ghee-oil-prices-add-fire/756803/


A Deutsche Welle article quoted a local Islamabad butcher, Afaq Ahmad, as saying that there have been no customers. “I voted for Imran Khan in 2018 and I am regretting my decision. Before his government, things were going good but there is tension everywhere now

Here is the link to this

https://frontline.thehindu.com/disp...fers-under-high-inflation/article37136095.ece


That's why ik committed suicide by going to Russia and trying to turn all revolutionary he knew everything was going to come down like a pack of cards so he went anti military . And if his goverment was still in power you still haven't told us why our exports textiles still would not have collapsed due to the ukraine situation which caused huge increases in energy and raw material inflation and the devastating floods which destroyed any cotton we produce over 40% was wiped out.

Stopping posting nonsense to you show your ignorance.
Why would textiles collapse after Ukraine crisis? Are people wearing less clothes since the war? Even Miftah explained why Dar is such a curse but obviously your illiteracy means you can't read his posts. We have reserves of 2bn and Dar wasted 7bn according to your own man. You and your ilk are the reason why these idiots have got away with their incompetence

 

[Bewal Express]

Actually Shabbar Zaidi had said in Dec'2021, that Pakistan is bankrupt. Unfortunately they put too much pressure on him and he was forced to retract.

https://www.dawn.com/news/1664147

IK or anyone cannot change the issue unless the boom and bust cycle of Pakistan's economy is sorted. This may all be too dense for PTI ******* to understand. But for other 6 % GDP growth rate is good for most countries except for Pakistan which doesn't produce much. Its grows off imports. GDP = Consumption + Investments + Savings + ( Export - Import ). In Pakistan's case, it is import - exports. It doesn't include liquidity. Which is precisely why Pakistan is unique country that can go bankrupt even when its growing economy.

It will take massive reform to change this. IK provides simplistic messages for his burger bachhey because complexity of this problem is hard to absorb. This is something all politicians do because it is always good have sheep that will follow you no matter what. The incentive structure in Pak economy only allows investment in real estate and in productive sectors.

This is Spanish guy does a much better job in explaining the economic mess of Pakistan that all the literate kids who are really angry but don't know what they are talking about.

https://www.youtube.com/watch?v=iY5MJFizzk8&t=1179s

6% growth,exports up by a 1/3rd,remittances up and CAD in surplus for most of his PMship, world leadership in Corona response, ehsaas world acclaimed and free health. Suck it up loser. You deserve these criminals

 

[insurge]

It's sad to see the lengths PDM supporters go to try and justify their party's incompetence and corruption. At this point they have given up logic, facts or actually trying to find any good thing to share because frankly speaking there is none. Now all they have left are delusions and trying to make it seem like PTI is just as bad as PDM.

Some ridiculous claims I have seen:

- Current economic meltdown is because of PTI's policies, not PDM. IMF, which basically dictates how the economy is run atm, somehow managed to completely miss PTI's health card as the largest thing that has bankrupted the country. Ignore the fact that international charities, universities and organizations have praised PTI's end-to-end ehsaas programs as an excellent framework for tackling poverty alleviation. Let's also ignore basically every article that links political instability as one of the major factors for the current economic mess which was solely caused by PDM.

- Pakistan is at a lower risk of default now few months back. Moody's, etc have no idea what they're talking about when they lower the credit rating of the country and put it in the imminent default categories. Somehow the credit rating not changing through PTI's tenure (despite covid, crazy commodity prices, etc) and going through multiple downgrades in the past 1 year since PDM took over is just a fluke.

- People vote for PPP because they are happy. PPP has the best ideology. Ignore the fact that the party is overtaken by feudals, their constitutents fare far worse than other regions across all socioeconomic factors, and they are left with no alternative choices to vote for. Also ignore the fact that PDM is a family business with zero ideology or long term vision. Also ignore the fact that the youth and ideological workers are all with PTI, who have developed several strong leaders in house with no familial political links.

- Literally the only thing PDM and their fans have to go off on was a petrol subsidy that was only supposed to be a few months. In that time, either prices in the global market would have decreased, PTI would have made a deal with Russia, or would increase prices to where they needed to be. Instead, PDM delayed the price increase, claimed Russian oil deal cannot happen, and then end up trying to get the same deal later on. The damage to the rupee in the meantime just made petrol even more costly than before. Daronomics (currency fixing) did more damage to the economy than subsiding petrol for a few months ever could.

I am not a blind supporter who thinks PTI was perfect. They failed to bring the necessary economic reforms. But there is no way you can spin PTI being just as bad as PDM. On every objective metric PDM is FAR worse than PTI. Forget 30 years in power, this 10 month tenure did more damage to Pakistan economically and socially than all of PTI's 3.5 year tenure.

There have been 0 reforms or any attempt to save the economy in PDM tenure. The only thing they managed to do at Shahbaz speed was get their corruption cases dropped. Congrats PDM supporters, you played yourself.

 

[daytrader]

Inflation hits highest level on record, will rise further

Last month, prices rose at the fastest pace ever in the country’s history, according to available data, with food, beverage and transport costs driving inflation to a point where analysts fear “families will have to make choices and sacrifices”.

Monthly inflation, measured by a basket of products called the Consumer Price Index (CPI), jumped to 31.6 per cent in February year-on-year, the Pakistan Bureau of Statistics said on Wednesday.

This was the highest annual rate since available data, i.e. July 1965, according to the research firm Arif Habib Ltd, and is also expected to rise even further in the coming months.

Inflation surpassed 30pc last month after having stayed above 20pc for eight months from June to January. “The 30 per cent figure is where families will have to make choices and sacrifices,” analyst Torek Farhadi told AFP. Inflation was 12.2pc in February last year.

...
https://www.dawn.com/news/1739916/inflation-hits-highest-level-on-record-will-rise-further

 

[Colorblind Genius]

Inflation hits highest level on record, will rise further

Last month, prices rose at the fastest pace ever in the country’s history, according to available data, with food, beverage and transport costs driving inflation to a point where analysts fear “families will have to make choices and sacrifices”.

Monthly inflation, measured by a basket of products called the Consumer Price Index (CPI), jumped to 31.6 per cent in February year-on-year, the Pakistan Bureau of Statistics said on Wednesday.

This was the highest annual rate since available data, i.e. July 1965, according to the research firm Arif Habib Ltd, and is also expected to rise even further in the coming months.

Inflation surpassed 30pc last month after having stayed above 20pc for eight months from June to January. “The 30 per cent figure is where families will have to make choices and sacrifices,” analyst Torek Farhadi told AFP. Inflation was 12.2pc in February last year.

...
https://www.dawn.com/news/1739916/inflation-hits-highest-level-on-record-will-rise-further

No point now.
This nation is not ready to wake up. Make it 1000 of increase/inflation and nothing is gonna happen.

Majority is corrupt so they are happy. Every corrupt person has raised his/her rate of kick backs and commission, and the amount of injustice and dishonesty he/she does in day to day work/job/business.

Those small number minority people who don’t get too much of a chance to earn haram, or an even smaller minority of those who don’t want to earn harem - are the only two groups effected.

Rest is all good!

Ayashi karo!

 

[MenInG]

The State Bank of Pakistan (SBP) announced on Thursday that it had increased the interest rate by 300 basis points (bps) to 20 per cent — the highest level since October 1996 — citing rising inflation.

The announcement came after a meeting of the bank’s Monetary Policy Committee (MPC).

The central bank said the decision reflected the “deterioration in inflation outlook” and its expectation amid recent external and fiscal adjustments.

 

[Kianig89]

Dollar increased Rs 19 in a day, insane, edible oil price Inc. RS. 115/KG in a day calamity catastrophe interest rate raised to 20% ,

 

[Syed1]

Jo Imran Khan ko 170 kay dollar pay nangi gaaliyan nikaltay thay.... aj wohi beghairat 300 ka bhi dollar lehna chahien tu nahi milayga. Allah Al Haq hai

 

[Bewal Express]

This is destruction on an industrial scale. Decades in the making and culminating in a total chimp running havoc, something he specialises in. PK is never going to recover from this.

 

[wasim-fan]

Think its fair to say. Time to prepare for inevitable default. Now or in 3-4 months. But its coming. Worst is yet to come.

 

[Bewal Express]

Think its fair to say. Time to prepare for inevitable default. Now or in 3-4 months. But its coming. Worst is yet to come.

I wonder what happened to Geo, Sethi and all the mafia media that enabled this terrible regime change and destroyed the PK.

 

[MenInG]

Watch your language and what you write on these forums.

Comments about people's parents etc will not be tolerated and you will be banned.

 

[wasim-fan]

I wonder what happened to Geo, Sethi and all the mafia media that enabled this terrible regime change and destroyed the PK.

They all got it wrong. So did I. PDM has accelerated the process. PTI may have been able push the can down the road a little bit. But he was not driven out for economic reasons, that's for sure.

Watching Ishaq Dar speak today perhaps the most painful thing to watch today. He has no clue about economics. He is wheeler dealer.

 

[wasim-fan]

What's happening right now is not the fallout of default. This is just meeting IMF conditions. And hoping to buy time.

 

[Bewal Express]

They all got it wrong. So did I. PDM has accelerated the process. PTI may have been able push the can down the road a little bit. But he was not driven out for economic reasons, that's for sure.

Watching Ishaq Dar speak today perhaps the most painful thing to watch today. He has no clue about economics. He is wheeler dealer.

In March we were not even close to a default. It was given as 19% and today its in the 80s. And the single biggest reason is the regime change brought incompetence and a catastrophic loss of confidence. The Rp would have gone to 200, but because Munshi and the family took control, its at 290. A situation that is irredeemable,if not forever, for at least the new few decades. We are in deep doggy dodoo and not matter what IK or anyone else does, it won't change much.

 

[insurge]

They all got it wrong. So did I. PDM has accelerated the process. PTI may have been able push the can down the road a little bit. But he was not driven out for economic reasons, that's for sure.

Watching Ishaq Dar speak today perhaps the most painful thing to watch today. He has no clue about economics. He is wheeler dealer.

It takes courage to admit when you're wrong. Kudos. PTI needed to bring in more reforms to actually address the underlying structural issues with the economy but with a slim minority, COVID, commodity price and hyenas in the opposition waiting for any chance they get to get back into power leaves no room to do so. A 5 rupee petrol hike would be met with the entire opposition and media crying "petrol bomb", doing any reform or even basic things like correcting property valuations would be met with so much hostility, could not hire competent people like Atif Mian because of opposition and radicals which caused many experts to leave...

It should be clear to anyone with two brain cells that PDM is not getting the country out of this mess. PTI is the only option who can do anything at this point and they will need strong majority to be able to do so.

 

[JaDed]

In March we were not even close to a default. It was given as 19% and today its in the 80s. And the single biggest reason is the regime change brought incompetence and a catastrophic loss of confidence. The Rp would have gone to 200, but because Munshi and the family took control, its at 290. A situation that is irredeemable,if not forever, for at least the new few decades. We are in deep doggy dodoo and not matter what IK or anyone else does, it won't change much.

No offense but hardly any criticism in Pakistani media, I checked Pakistani news websites right now , it feels like they are censored due to establishment and the one statement on COAS by IK alone is being showcased.

They tried the narrative to make IK responsible but no one is buying it and yet IK said no one from Establishment wants to talk to him.

 

[Bewal Express]

No offense but hardly any criticism in Pakistani media, I checked Pakistani news websites right now , it feels like they are censored due to establishment and the one statement on COAS by IK alone is being showcased.

They tried the narrative to make IK responsible but no one is buying it and yet IK said no one from Establishment wants to talk to him.

The media has been brought, 95% is totally controlled. Only Bol still speaks up, ARY has been neutered. Even Dawn, a newspaper which had lots of Respect was asking for the NS SC decision to be looked at again but no mention of money laundering or NSs criminality. We are under a soft Martial Law and have been for since the regime change.

 

[Colorblind Genius]

Think its fair to say. Time to prepare for inevitable default. Now or in 3-4 months. But its coming. Worst is yet to come.

Why worst has yet to come?
Your haram khore PDM leaders launched mehangai mukao March and promised to provide a great relief to the public soon as they come into power.

As per Shehbaz Shareef, “hum hakoomat mein aa kar mehangai mein pissi hui awaam k sar pe shafqat ka haath rakjengey”

 

[insurge]

Why worst has yet to come?
Your haram khore PDM leaders launched mehangai mukao March and promised to provide a great relief to the public soon as they come into power.

As per Shehbaz Shareef, “hum hakoomat mein aa kar mehangai mein pissi hui awaam k sar pe shafqat ka haath rakjengey”

IMO this comment is not warranted. Wasim fan is no longer supporting PDM. Someone should be able to think critically and change their mind when presented with facts and evidence and not be demonized for it afterwards. Otherwise you get folks like Major who will resort to the most absurd justifications and stubbornness out of defense.

 

[Bewal Express]

IMO this comment is not warranted. Wasim fan is no longer supporting PDM. Someone should be able to think critically and change their mind when presented with facts and evidence and not be demonized for it afterwards. Otherwise you get folks like Major who will resort to the most absurd justifications and stubbornness out of defense.

In theory you are right but we know in practice, they will always hold a soft spot for the mafia. You can't change these people

 

[Colorblind Genius]

IMO this comment is not warranted. Wasim fan is no longer supporting PDM. Someone should be able to think critically and change their mind when presented with facts and evidence and not be demonized for it afterwards. Otherwise you get folks like Major who will resort to the most absurd justifications and stubbornness out of defense.

Yes you are entitled to your opinion.
And here is my opinion on your opinion.

Smaller corrupt is supporting bigger corrupt.
And now that the bigger corrupt’s political careers is about to die, the smaller ones are jumping the ship, only to find new corruption gods to worship.

Did you notice he casually said, yeah IK would’ve delayed the default a little longer?

And lol at “critical thinking and changing their mind” - as if these people are having a second awakening.

And you think they didn’t know EXACTLY what PDM was doing?

 

[JaDed]

Yes you are entitled to your opinion.
And here is my opinion on your opinion.

Smaller corrupt is supporting bigger corrupt.
And now that the bigger corrupt’s political careers is about to die, the smaller ones are jumping the ship, only to find new corruption gods to worship.

Did you notice he casually said, yeah IK would’ve delayed the default a little longer?

And lol at “critical thinking and changing their mind” - as if these people are having a second awakening.

And you think they didn’t know EXACTLY what PDM was doing?

You have become bitter over the last couple of years.