What's new

Pakistan economy under the PDM government & now the caretaker administration

Hasan said:
The economic situation is Shahbaz headache now. The no confidence move have allowed PTI to significantly improve its support base across Pakistan at all levels of society without the constraints of being in power during a period of significant global economic change.

PTI must now be very thankful to PDM.
Click to expand...

They took the America money and created the uncertainty and chaos. Today they can't leave their houses and safe houses and IK is out in public. And the big decision hasn't even been made. Lets assume that the crooks win the election,will they continue to avoid making the tough decisions like increasing petrol by anything from 50 to 100 rps.
 
Hasan said:
PML - N/S trusted the most untrustworthy person in politics, Zardari. PML N/S took responsibility for the economy in the middle of a global energy crisis knowing full well Pakistan’s dependence on energy import. Who advised them?

Shahbaz done like a kipper.
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It would be funny if it wasn't so dangerous. SS has more Unturns in 4 days than a learner driver. If he doesn't increase the petrol price then PK will be close to bankruptcy in 2 months, if he does then his lies get exposed.
 
Lo jee, SS orders completion of Diamer Bhasha dam by 2026 lol. Hallucination already in full force with this idiot.
 
offstump said:
Lo jee, SS orders completion of Diamer Bhasha dam by 2026 lol. Hallucination already in full force with this idiot.
Click to expand...

Amazing work by SS. He thinks it's an underpass in Lahore. And this idiot is PM and the best is that Nooras will believe him
 
Pakistan under Rs 60 billion burden as Prime Minister Sharif rejects proposal for fuel hike

Pakistan Prime Minister Shehbaz Sharif has put an additional burden of around Rs 30 billion on the exchequer by turning down the oil and gas authority's proposal to increase the fuel prices thus further deteriorating the economic situation of the country.

An amount of Rs30 billion is already due on account of price differential claims due to keeping oil prices unchanged from April 1, 2022.

The government will be paying a price of Rs60 billion to oil companies due to maintaining existing oil prices for the month of April.

The government will be paying a price of Rs60 billion to oil companies due to maintaining existing oil prices for the month of April.

The Oil and Gas Regulatory in a bid to provide relief to the country's crippled economy proposed Sharif to beef up the fuel price however the premier refused to accept the offer which led to a devastating effect. PM's decline will now torment the government exchequer with an additional burden of around Rs30 billion.

Oil and Gas Regulatory Authority (OGRA) had proposed an increase in the price of diesel by Rs 51.32 per litre (35.7 pc), petrol by Rs 21.30 per litre (14.2 pc), kerosene oil by Rs 36.03 per litre (28.7 pc) and light diesel oil (LDO) Rs 38.89 per litre (39.9 pc), reported The Express Tribune.

The circular debt situation in oil and gas sectors had already been worsening and the accumulation of subsidy or price differential claims would lead to an increase in circular debt in the coming days.

Following the prime minister's decision to not increase the fuel prices, the government would have to pay this amount to oil firms on account of price differential claims (PDCs).

Sharif also allowed the power distribution companies to charge more from the power consumers thus further burdening the people of the country who are suffering from tax increases, and higher energy prices.

Amid the rising inflation in Pakistan, people will have to pay an additional cost of Pakistan Rupees 4.8 per unit for the electricity they consumed since February.

According to The Express Tribune, the National Electric Power Regulatory Authority (Nepra) jacked up the power tariff by Rs 4.8 per unit on account of fuel cost adjustment (FCA) for the month of February.

Power Distribution Companies (DISCOS) will charge fuel cost adjustment (FCA) of February 2022 in the billing month of April 2022 to all consumer categories.

Central Power Purchasing Agency (CPPA-G) had requested the power regulator to allow an increase of Rs4.9441 per unit to burden the power consumers with an impact of Rs38.4 billion.

NEPRA conducted a public hearing on March 31 however, it approved the increase of Rs 4.8530 per unit instead of Rs4.9441 per unit to put an additional burden of around Rs 37.7 billion on power consumers, as per the news paper.

Areas of Karachi include Korangi, Landhi, Railway Colony, Nusrat Bhutto Colony, Khawaja Ajmair Nagri, Paposh Nagar, Liaquat Market, Malir, Gulistan-e-Jauhar Block-2, Korangi Sector 30, 31 and others, reported ARY News.

As the outage issues in Pakistan's major city continues, the prime minister was informed that nine independent power producers (IPPs) had been closed due to non-supply of gas, RLNG and coal, while 18 power plants were not working due to technical reasons. (ANI)

https://economictimes.indiatimes.com/news/international/world-news/pakistan-under-rs-60-billion-burden-as-prime-minister-sharif-rejects-proposal-for-fuel-hike/articleshow/90871357.cms
 
PML-N has a well documented history of being reckless with the state Exchequer which future govts and the people of Pakistan have to pay.
 
uberkoen said:
I asked the questions first in my post and you replied to my post asking further questions without addressing the ones I had asked.

I think it's only fair for this discussion to continue that you address the questions asked first and then put your own questions forward.

With regards to PTI's popularity, I suppose we shall see during the next general elections which I believe should be next year.
Click to expand...

You asked the question first? Haha what are you and we have been discussing this in other threads so why whine about who asked first. Okay let me make it easy for you, let's imagine PTI doesn't exist at all and Imran Khan doesn't exist at all, so they don't matter at all.... this scenario should make my query more valid and easy to follow through for you, so now tell me what is your take on family based dynasty of political parties and how can it function in a democracy? Wouldn't it take a cult to support the same family over decades, I mean it's seriously is a next level jahalat to be willing to do ghulami of the same family for decades?

Let's hear you out, don't try avoiding this question again as you have dodge this in multiple threads. I can understand its impossible to make sense out of but you can have your say.
 
Cover Drive Six said:
Pakistan under Rs 60 billion burden as Prime Minister Sharif rejects proposal for fuel hike

Pakistan Prime Minister Shehbaz Sharif has put an additional burden of around Rs 30 billion on the exchequer by turning down the oil and gas authority's proposal to increase the fuel prices thus further deteriorating the economic situation of the country.

An amount of Rs30 billion is already due on account of price differential claims due to keeping oil prices unchanged from April 1, 2022.

The government will be paying a price of Rs60 billion to oil companies due to maintaining existing oil prices for the month of April.

The government will be paying a price of Rs60 billion to oil companies due to maintaining existing oil prices for the month of April.

The Oil and Gas Regulatory in a bid to provide relief to the country's crippled economy proposed Sharif to beef up the fuel price however the premier refused to accept the offer which led to a devastating effect. PM's decline will now torment the government exchequer with an additional burden of around Rs30 billion.

Oil and Gas Regulatory Authority (OGRA) had proposed an increase in the price of diesel by Rs 51.32 per litre (35.7 pc), petrol by Rs 21.30 per litre (14.2 pc), kerosene oil by Rs 36.03 per litre (28.7 pc) and light diesel oil (LDO) Rs 38.89 per litre (39.9 pc), reported The Express Tribune.

The circular debt situation in oil and gas sectors had already been worsening and the accumulation of subsidy or price differential claims would lead to an increase in circular debt in the coming days.

Following the prime minister's decision to not increase the fuel prices, the government would have to pay this amount to oil firms on account of price differential claims (PDCs).

Sharif also allowed the power distribution companies to charge more from the power consumers thus further burdening the people of the country who are suffering from tax increases, and higher energy prices.

Amid the rising inflation in Pakistan, people will have to pay an additional cost of Pakistan Rupees 4.8 per unit for the electricity they consumed since February.

According to The Express Tribune, the National Electric Power Regulatory Authority (Nepra) jacked up the power tariff by Rs 4.8 per unit on account of fuel cost adjustment (FCA) for the month of February.

Power Distribution Companies (DISCOS) will charge fuel cost adjustment (FCA) of February 2022 in the billing month of April 2022 to all consumer categories.

Central Power Purchasing Agency (CPPA-G) had requested the power regulator to allow an increase of Rs4.9441 per unit to burden the power consumers with an impact of Rs38.4 billion.

NEPRA conducted a public hearing on March 31 however, it approved the increase of Rs 4.8530 per unit instead of Rs4.9441 per unit to put an additional burden of around Rs 37.7 billion on power consumers, as per the news paper.

Areas of Karachi include Korangi, Landhi, Railway Colony, Nusrat Bhutto Colony, Khawaja Ajmair Nagri, Paposh Nagar, Liaquat Market, Malir, Gulistan-e-Jauhar Block-2, Korangi Sector 30, 31 and others, reported ARY News.

As the outage issues in Pakistan's major city continues, the prime minister was informed that nine independent power producers (IPPs) had been closed due to non-supply of gas, RLNG and coal, while 18 power plants were not working due to technical reasons. (ANI)

https://economictimes.indiatimes.com/news/international/world-news/pakistan-under-rs-60-billion-burden-as-prime-minister-sharif-rejects-proposal-for-fuel-hike/articleshow/90871357.cms
Click to expand...

No balls to make the tough calls. As PM he has to make the hard decisions, its ok for these thugs to criticise IK when the badniyaats knew that he had no control over gas, oil or cooking oil and he did his best to protect the awaam but they wanted politcal gain, which is fine but you can't then expect us to give an inch. SS show some leadership
 
Still no cabinet.

Heard there were some bhangars by PDM supporters when Shahbaz was selected as PM.
 
Looks like all cabinet candidates are carefully picked from prison they all are with some baggage a real kick in the teeth:strauss
 
Every day that we have in action from the cabinet on Petrol, the more problems it will create. When is SS going to show the leadership and increase prices. But the problem is that Maryam said IK is the petrol chore, so how can he increase the price because according to Maryam there is no need. There is some dire predictions that we could be heading for very high inflation and SS and Bajwa will have to own it.
 
Before MiftahIsmail lies again. Let me write a long thread with FIGURES where PTI left the economy.

Thread of Numbers only.

1. GDP growth outperformed global markets
• GDP growth accelerated to 5.6% in FY2021
• In comparison, USA economy contracted -4%, EU -8%
4%, EU -8%, India -7.3% and the Gulf states by -5%.

2. No other govt. achieved 5.6% growth in their first 3 years. PMLN 3.3%, PPP 2%

3. Economy on target to achieve GDP growth above 5% in FY2022

4. LSM growth 7.6% during first seven months of FY2022
5. • Exports $ 23.3bn in first 9months of FY2022 – on current path will cross $ 30bn for first time in history

6. Remittances at record level of $29bn in FY2021, to grow to $ 34bn in FY2022

7. $ 4bn investment from overseas Pakistanis in RDA

8. Profitability of the top
100 companies listed on PSX posted the growth of 62% in 2021, the highest growth in the last 10 years.

9. IT package, over $ 350mn investment in Pakistani startups in 2021 – higher than all previous years combined.

10. WB DB index Top 10 reformers; 28 points
8 points (108/190)

11. Moody’s rating agency upgraded outlook to ‘Stable’ from ‘under review for downgrade’ (August 2020)

NOW JOB CREATION FACTS.

1. Inclusive growth strategy adopted by PTI government with focus on labor intensive constructions, export industry, SMEs, tourism, and agriculture.

2. PTI govt created 5.5mn jobs in first three years, the highest by any govt on record.

3. Average of 1.84mn jobs per year is higher than PPP (1.4mn) and PMLN (1.1mn).

4. Current trajectory suggests that we are on target to achieve the 10mn jobs promised by Imran Khan in 2018 manifesto.

5. According to the WB, Pakistan outperformed all regional economies during the 2020-2022 COVID period, with the lowest unemployment rate in the South Asia region at 4.3% compared to India 8%, Bangladesh 5.4%

NOW ENERGY SECTOR REFORMS

1. Debt stock of PHPL Rs. 806 bn shifted to public debt, to protect consumers from tariff surcharges

2. NEPRA approved CTBCM (Competitive Trading Bilateral Contracts Market)
3. MoUs with 53 IPPs to save Rs 836bn in 20 years. Shutting of inefficient power plants. 3-4 plants closed.

4. WACOG bill.

5. 5 hydel damns under construction, first time since the 1970s will reduce dependence on imports and reduce cost of energy for consumers.
6. None of these reforms or investments were made in any of the previous regimes.

NOW SANCTIONS AND PENALTIES.

1. Resolve Karkey rental power plant issue saved $1.2bn

2. Resolved Reko Diq issue, penalty of $ 11bn saved. New investment of $10bn for Balochistan.
3. FATF financial sanctions ‘ black list’ saved. Significant progress achieved under PTI government. Pakistan has completed 26 of the 27 action items in its 2018 action plan.

NOW COVID RESPONSE.

1. IMF termed COVID as the biggest crisis since the 1930s great depression.

2. WHO hailed Pakistan COVID response as one of the best in the world.

3. Economist magazine ‘ Normalcy Index’ rated Pakistan as the top country in the world in Nov 2021. Lawrence Summers, WB Chief Economist stated ‘US should have emulated Pakistan in
mulated Pakistan in handling coronavirus’.

4. • Bill Gates hailed remarkable progress by Pakistan on COVID and Polio eradication

5. 80% of target population provided 2 does of vaccines free of cost ($ 5bn subsidy).

6. Pakistan introduced the concept of Smart
lockdowns to contain the spread, the world followed our lead.

7. Record fiscal and monetary stimulus package of Rs 2.5 trillion (6% of GDP or $ 16 billion).

8. 15 million families received EHSAS cash payment

9. SMEs pre-paid power bills Rs 50bn (95% commercial

72% industrial users benefitted)

10. Subsidy to Households (USC, power & gas bills)

11. Construction package Rs 300bn new spending for low cost housing & jobs creation.

12. Industrial Support package – 50% discount on additional power consumption; 25% for 3 years
13. 1.6 mn businesses loan deferrals (Rs 657 bn).

14. • 1.7 mn jobs protected under Rozgar scheme.

15. SBP TERF led to Rs 435 bn of new investments in Pakistan.

Still some of the things i have missed.
 
The imported govt is hopelessly trying to make a ground for increase in petroleum prices
 
Prime Minister Shehbaz Sharif, chairing his maiden cabinet meeting, said the country was caught in a 'debt trap' and the incumbent government has to steer the nation out of it in order to save the economy.

"The country is caught in a debt trap and we have to steer it out from it and save the economy," Shehbaz said. "The cabinet is composed of extremely capable and experienced members, expressing the confidence that they will bring to use their best of abilities to serve the masses and live up to their expectations."

The premier said all decisions would be taken in unison and in consultation with stakeholders in order to address chronic challenges including those of the economy, energy, poverty and unemployment.

The prime minister stressed it was only through hard work that the government can bring improvement to the situation.

He further added that the broad-based coalition government would work tirelessly for the welfare of the people and take decisions that serve the interest of the country.

The premier expressed a firm commitment to addressing the problems faced by the federating units, especially Balochistan.

Shehbaz also pointed out that corruption increased during the tenure of the previous government and the 'poisonous propaganda' would be confronted with facts.

https://tribune.com.pk/story/235345...n-out-of-debt-trap-to-save-economy-pm-shehbaz
 
MenInG said:
Prime Minister Shehbaz Sharif, chairing his maiden cabinet meeting, said the country was caught in a 'debt trap' and the incumbent government has to steer the nation out of it in order to save the economy.

"The country is caught in a debt trap and we have to steer it out from it and save the economy," Shehbaz said. "The cabinet is composed of extremely capable and experienced members, expressing the confidence that they will bring to use their best of abilities to serve the masses and live up to their expectations."

The premier said all decisions would be taken in unison and in consultation with stakeholders in order to address chronic challenges including those of the economy, energy, poverty and unemployment.

The prime minister stressed it was only through hard work that the government can bring improvement to the situation.

He further added that the broad-based coalition government would work tirelessly for the welfare of the people and take decisions that serve the interest of the country.

The premier expressed a firm commitment to addressing the problems faced by the federating units, especially Balochistan.

Shehbaz also pointed out that corruption increased during the tenure of the previous government and the 'poisonous propaganda' would be confronted with facts.

https://tribune.com.pk/story/235345...n-out-of-debt-trap-to-save-economy-pm-shehbaz
Click to expand...

So we are in a debt trap and he declares 2 camp offices and has 3000 Police to secure his houses. Good job
 
The economy will be gutted and bled to its death bed when (and if), IK returns back to power.

Under SS, more IMF loans are on their way for these looters to hog on.

The country is under a heavy IMF debt exactly due to these imbeciles being in power, taking turns on the PM house for the last thirty years.

SS said he carefully picked a team of well experienced cabinet members - and we all know what their experience and expertises is all about.

Whatever little PTI managed to achieve is going to go down the drain - one step forward, 10 steps back.
This country is nicely doomed.
 
Dollar increased to 191
Medicine price 20-30% ghee 30 Rs. Per litre Petrol 20Rs. Per litre just after Eid
 
Thought the moment honest, dedicated and hard working PDM/ Shehbaz Sharif will take over we would see drastic drop in inflation, petrol ll drop significantly, IMF loan will clear out, rupee ll jump 10 folds against dollar, atta/chawal/tematar ll be very cheap etc etc. I mean thats what we were being told by the economic experts aka PDM fans here. I mean no surprises they were clueless about how economy works in the world, no surprises because it will take a clueless person to support choor mafia criminals of PDM. No surprises they won't be visible in these threads.
 
Kianig89 said:
Dollar increased to 191
Medicine price 20-30% ghee 30 Rs. Per litre Petrol 20Rs. Per litre just after Eid
Click to expand...
[MENTION=135038]Major[/MENTION]
What's happening with Dollar. Before you imported crooks started this it was around 175, so what's happening
 
Bewal Express said:
[MENTION=135038]Major[/MENTION]
What's happening with Dollar. Before you imported crooks started this it was around 175, so what's happening
Click to expand...

I remember Major telling me people are tired of mehengai hence PDM. Then ran away when I showed him the inflation numbers under PPP.
 
Pakpak said:
I remember Major telling me people are tired of mehengai hence PDM. Then ran away when I showed him the inflation numbers under PPP.
Click to expand...

And than i replied to you that that was inflation inherited by ppp from army and than same ppp bought policy to bring the country back from near hyper inflation. Policy work in long term and thus we saw results during pmln time
 
[MENTION=135038]Major[/MENTION] is on my block list but incase he's challenged it

Topic was what has PPP done. In came PTI's inflation, it was pointed out how inflation was highest in PPP's time in our history, brought down during their end in power. PTI's nowhere that level. Infact compared to around the world its absolutely nothing. So if that's the case this jiyala should not be supporting PPP either.

Then he was asked to provide proof of what PPP has done in Sindh in decades. He had nothing. A patwari posted some posters which I took apart with no reply from Major at all. [MENTION=1269]Bewal Express[/MENTION] was in that thread too.

I have deep respect for posters who admit when they're wrong. I mean I've happily bashed PTI and Khan for their OTT speeches against France and the West, unlike boot licking them like you do with a corrupt, rotten, killing murdering party.

Sharam karo kuch
 
Pakpak said:
[MENTION=135038]Major[/MENTION] is on my block list but incase he's challenged it

Topic was what has PPP done. In came PTI's inflation, it was pointed out how inflation was highest in PPP's time in our history, brought down during their end in power. PTI's nowhere that level. Infact compared to around the world its absolutely nothing. So if that's the case this jiyala should not be supporting PPP either.

Then he was asked to provide proof of what PPP has done in Sindh in decades. He had nothing. A patwari posted some posters which I took apart with no reply from Major at all. [MENTION=1269]Bewal Express[/MENTION] was in that thread too.

I have deep respect for posters who admit when they're wrong. I mean I've happily bashed PTI and Khan for their OTT speeches against France and the West, unlike boot licking them like you do with a corrupt, rotten, killing murdering party.

Sharam karo kuch
Click to expand...

I remember the thread. [MENTION=135038]Major[/MENTION] normally disappears when inconvenient facts are given to him.
 
As per Imran Khan Raiz, every night there is an ayashi party happening to cater about 200 people in the name of Iftar and dinner in the PM house since SS took over.

If true, shame on PDM.
 
Colorblind Genius said:
As per Imran Khan Raiz, every night there is an ayashi party happening to cater about 200 people in the name of Iftar and dinner in the PM house since SS took over.

If true, shame on PDM.
Click to expand...

which PM house? There's 3 now! All at the expense of tax payers
 
Dollar rose to 191 around 45billion Rs. Sunked in PSX today where is [MENTION=135038]Major[/MENTION]
 
Bewal Express said:
[MENTION=135038]Major[/MENTION]
What's happening with Dollar. Before you imported crooks started this it was around 175, so what's happening
Click to expand...

Pakpak said:
I remember Major telling me people are tired of mehengai hence PDM. Then ran away when I showed him the inflation numbers under PPP.
Click to expand...

Kianig89 said:
Dollar rose to 191 around 45billion Rs. Sunked in PSX today where is [MENTION=135038]Major[/MENTION]
Click to expand...

What has PTI ever done?

Pakistan's exports of goods crossed $3 bn for the first time in history in March 2022.

With March exports at $3.072 bn, exports in 9MFY22 are $23.699 bn, showing a growth of 26.6% YoY, on target to reach $32 bn in FY22, In sha Allah. PTI's policies paying off.

FRBFpaZWQAQEfuL
 
The history of our exports since 2001.

Musharraf increased Pakistan's exports from $10.6 Billion to $17.8 Billion in 6 years. That is an average increase of $1.2 Billion.

PPP increased Pakistan's exports from $20.2 Billion to $25.1 Billion in 5 years. That's an average increase of $0.98 Billion

PMLN decreased Pakistan's exports from $25.1 Billion to $23.6 Billion in 5 years. That's an average decrease of $-0.3 Billion every year.

PMLN also increased CAD(current account deficit) from $3.13 Billion in 2014 to $19.2 Billion in 2018.

PTI increased Pakistan's exports from $23.6 Billion to more than $31.2 Billion in 3.5 years. That's an average increase of over $2.17 Billion.
 
Hermoine Green said:
What has PTI ever done?

Pakistan's exports of goods crossed $3 bn for the first time in history in March 2022.

With March exports at $3.072 bn, exports in 9MFY22 are $23.699 bn, showing a growth of 26.6% YoY, on target to reach $32 bn in FY22, In sha Allah. PTI's policies paying off.

FRBFpaZWQAQEfuL
Click to expand...
[MENTION=135038]Major[/MENTION] Sahib is running off these days. When they got elected he was celebrated, today he can't explain even the most basic things
 
Hermoine Green said:
What has PTI ever done?

Pakistan's exports of goods crossed $3 bn for the first time in history in March 2022.

With March exports at $3.072 bn, exports in 9MFY22 are $23.699 bn, showing a growth of 26.6% YoY, on target to reach $32 bn in FY22, In sha Allah. PTI's policies paying off.

FRBFpaZWQAQEfuL
Click to expand...

It's unfortunate that PTI wasn't able to complete its term, our total exports would've likely hit $46-48 Billion or maybe even $50 Billion in 2023.
 
Subsidy on petrol to be lifted so much for Purana Pakistan and IK can't handle economy :62:
 
Welcome to New Finance Minister. And this ***** has 220mn peoples livelihoods in his hands.

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Ladies and Gentleman ! Presenting you the Imported Finance Minister of Pakistan <a href="https://twitter.com/MiftahIsmail?ref_src=twsrc%5Etfw">@MiftahIsmail</a> ! You are a shame and an absolute embarrassment for the nation inside & outside Pakistan ! <a href="https://twitter.com/hashtag/%D8%A7%D9%85%D9%BE%D9%88%D8%B1%D9%B9%DA%88_%D8%AD%DA%A9%D9%88%D9%85%D8%AA_%D9%86%D8%A7%D9%85%D9%86%D8%B8%D9%88%D8%B1?src=hash&ref_src=twsrc%5Etfw">#امپورٹڈ_حکومت_نامنظور</a> <a href="https://t.co/WdqbtCOwX5">pic.twitter.com/WdqbtCOwX5</a></p>— Khurshid Alam (@PTIKhurshidAlam) <a href="https://twitter.com/PTIKhurshidAlam/status/1517880540858302467?ref_src=twsrc%5Etfw">April 23, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 
Bewal Express said:
Welcome to New Finance Minister. And this ***** has 220mn peoples livelihoods in his hands.

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Ladies and Gentleman ! Presenting you the Imported Finance Minister of Pakistan <a href="https://twitter.com/MiftahIsmail?ref_src=twsrc%5Etfw">@MiftahIsmail</a> ! You are a shame and an absolute embarrassment for the nation inside & outside Pakistan ! <a href="https://twitter.com/hashtag/%D8%A7%D9%85%D9%BE%D9%88%D8%B1%D9%B9%DA%88_%D8%AD%DA%A9%D9%88%D9%85%D8%AA_%D9%86%D8%A7%D9%85%D9%86%D8%B8%D9%88%D8%B1?src=hash&ref_src=twsrc%5Etfw">#امپورٹڈ_حکومت_نامنظور</a> <a href="https://t.co/WdqbtCOwX5">pic.twitter.com/WdqbtCOwX5</a></p>— Khurshid Alam (@PTIKhurshidAlam) <a href="https://twitter.com/PTIKhurshidAlam/status/1517880540858302467?ref_src=twsrc%5Etfw">April 23, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Click to expand...

What a clown he should only focus on making candy's
 
Bewal Express said:
Welcome to New Finance Minister. And this ***** has 220mn peoples livelihoods in his hands.
Click to expand...

I actually don't have a problem with his response. While it was embarrassing that he did not know what web 3 is, however the more important thing was said @1.20 minute mark. The govt cant help them, however the govt can hurt them so the best thing the govt can do is stay away from them and wish them the best.

Ultimately govt does not create wealth, its the private sector, and the govt should be limited to a regulator. And the less regulations the better.
 
Gharib Aadmi said:
I actually don't have a problem with his response. While it was embarrassing that he did not know what web 3 is, however the more important thing was said @1.20 minute mark. The govt cant help them, however the govt can hurt them so the best thing the govt can do is stay away from them and wish them the best.

Ultimately govt does not create wealth, its the private sector, and the govt should be limited to a regulator. And the less regulations the better.
Click to expand...

The govt can create the business environment and facilitate wherever its needed. For example the IT parks are a great idea and should be further encouraged.
 
Bewal Express said:
These crooks deliberately created the uncertainty and they will destroy the PK economy. Investors dont like uncertainty and if the also remittances take a plunge we could be heading for a meltdown.
Click to expand...

An economic meltdown while PDM is in power, with mass millions supporting IK around Pakistan is a sure guarantee of the revolution needed to change the course of Pakistan.

There’s always a silver lining.
 
KARACHI: The country’s current account deficit almost doubled in March to $1 billion compared to the preceding month, taking the total gap during the first nine months (July-March) of the ongoing fiscal year to over $13 billion.

The latest data issued by the State Bank of Pakistan (SBP) on Saturday could be shocking for the new government, which is in negotiations with the International Monetary Fund for the release of $1 billion.

Since the beginning of the current fiscal year, the government has failed to control the widening trade deficit, which is leading to higher current account deficits.

“Despite high global commodity prices, the turnaround in the current account continues, with a deficit of $1bn in March, $500m lower than the average during FY22. Moreover, the non-oil balance remained in surplus for the second consecutive month,” the SBP said in a Twitter post.

The current account balance — which measures the flow of goods, services and investments into and out of the country — was in a $13.169bn deficit during July-March against $275m a year ago.

The State Bank reported that the import growth was 41.3 per cent during the nine months compared to 11.5pc growth in the same period last year.

Goods and services imports cost a total of $62.137bn during July-March compared to exports of $28.855bn. Rising imports are widening the trade deficit and destroying the exchange rate, as the demand for dollars remained abnormally high during the current fiscal year.

Quarter-wise data shows that the current account deficit was $3.526bn in July-Septe*mber, $5.565bn in October-December, and $4.078bn in January-March, averaging out at about $4.4bn per quarter. This means the deficit may touch $17.5bn by the end of the fiscal year.

The previous government attempted to red*uce the import bill by introducing higher duties on imports, particularly on luxury items.

However, it failed to do so amid rising global oil prices. Pakistan paid over $14bn to import petroleum products during the July-March period, almost double the oil import bill a year ago.

The State Bank reported that the balance on trade in goods and services during July-March was in a deficit of $33.276bn compared to the $21.292bn deficit in the year-ago period.

These twin deficits would keep the new government restless while it requires multiple measures to get a hold of the situation.

A steep fall in the SBP-led foreign exchange reserves — currently at $10.8bn — allows speculators to destabilise the exchange rate.

Besides, to arrest galloping inflation, the interest rate was recently increased by 250 basis points to 12.25pc, and a further hike is expected.

Published in Dawn, April 24th, 2022
 
Technics 1210 said:
An economic meltdown while PDM is in power, with mass millions supporting IK around Pakistan is a sure guarantee of the revolution needed to change the course of Pakistan.

There’s always a silver lining.
Click to expand...

May be Imran already missed this chance - Lahore jalsa was when he should’ve triggered it.

The iron was hot and it needed a hit.
Let’s hope he does it right after eid before it gets too late
They army must be watching it and they will probably take over and enforce Marshall Law.
 
The planning ministry has proposed to the new government to close around 764 development projects, costing Rs2.3 trillion with a view to cleaning its own-created mess and creating fiscal space for the new projects.

The ministry has given a briefing to Ahsan Iqbal while keeping in mind new ground realities – change of political leadership and limited fiscal space that does not allow funding of huge development portfolio, sources told The Express Tribune.

The sources said that the ministry suggested to Iqbal that the projects having zero or very little spending and those of provincial nature should be dropped from the Public Sector Development Programme (PSDP). The ministry has proposed that a total of 764 schemes having a cumulative cost of Rs2.3 trillion should be excluded from the PSDP purview.

At present, 1,169 schemes are part of the PSDP costing Rs6.3 trillion. The ministry has recommended winding up of 65% of the total schemes that will reduce the overall PSDP financing by 36% to Rs4 trillion.

The ministry has proposed that the government may drop 326 projects of the provincial nature, which will save Rs97 billion, said the sources. However, it wastes billions of rupees that have already been spent on these schemes.

The federal government had done a lot to fund the national development framework projects and there was need to reduce the PSDP size, said a senior official of the Planning Commission, while speaking on condition of anonymity.

He added that the commission had also sent a summary to the National Economic Council (NEC) with a request to ban the approval of new federally-funded provincial projects, except those that fall in the notified under-developed areas of Pakistan.

During the Pakistan Tehreek-e-Insaf’s (PTI) tenure, many provincial nature projects were approved under political expediency. The previous government had added a few projects of Dera Bugti and Gujarat districts to lure its allies, said the sources.

Similarly, the ministry has worked out that 439 projects that have so far received nil to less than 10% financing against the total cost can be closed. The remaining financing requirement of these schemes is Rs2.3 trillion, excluding the Mainline (ML)-I project of the China Pakistan Economic Corridor (CPEC). The government will retain the ML-I project that has Rs1.1 trillion cost.

But the closure of these schemes would waste Rs266 billion that have already been spent on these projects, said the sources.

There were 85 projects in the PSDP that received less than 10% funding. Their total cost was Rs504 billion, while Rs266 billion had already been spent on them, they added. There were another 371 schemes having an estimated value of Rs1.7 trillion but did not receive any financing.

The sources said that the planning minister has not yet made any decision about closing the projects and would take a decision after further deliberations. They said that the minister would scrutinise the projects before making a decision about the closure.

During discussions, the possibility of closing those projects that received up to 20% of the funding requirements, said the sources. There are about 84 such schemes having Rs191 billion cost. Their remaining financing requirements were estimated at Rs123 billion, the sources added.

The planning minister faces a challenge to create a fiscal space for the new initiatives that the coalition government might like to announce as part of its development agenda.

Iqbal has also invited his predecessor Asad Umar for a farewell meeting, also with a view to seeking his input on the projects of the previous government that Umar would like the new government to retain in the PSDP.

For this fiscal year, the PTI government had approved Rs900 billion development budget, which it had slashed to just Rs600 billion before it was ousted from power. However, the limited fiscal space is not sufficient to finance even the ongoing schemes.

The sources said that there were hardly 26 projects that were of national importance and are part of the PSDP. They have a total cost of Rs2.8 trillion. Despite their importance, the previous government allocated only Rs157 billion for carrying out work on these schemes of national importance in the current fiscal year.

The ministry also briefed Iqbal that there were 604 projects that had been approved at the lowest level –the Departmental Development Working Party that is headed by the secretaries concerned. The cost of these projects is Rs374 billion and the majority of these could be dropped, they added.

The ministry has also recommended the closure of the Sustainable Development Goals (SDGs) programme –which is essentially a funding mechanism for the parliamentarians’ schemes. The recommendation has been made on the ground that these schemes were also of provincial nature.

The PSDP spending would remain low in the next fiscal year too, in case Pakistan and the International Monetary Fund agree to revive the stalled bailout package.

Express Tribune
 
Last edited:
Pakistan’s trade deficit for March 2022 widened to $3.436 billion

Exports of goods and services were $3.74 billion

Imports of goods and services were $7.176 billion
 
So Maryam Safdar and Fazlur will go with SS for KSa visit guess they all don't trust each other #rattlesnake
 
The faces at the top keep changing but the economy will remain shackled until a Pakistani Govt faces up to its long-term structural issues, namely:

- too many loss making state owned industries
- weak export sector and overreliance on imports depleting its foreign currency reserves
- low tax-to-GDP ratio
- lack of foreign investment due to militancy, a corrupt bureaucracy and constant political turmoil.
 
Markhor said:
The faces at the top keep changing but the economy will remain shackled until a Pakistani Govt faces up to its long-term structural issues, namely:

- too many loss making state owned industries
- weak export sector and overreliance on imports depleting its foreign currency reserves
- low tax-to-GDP ratio
- lack of foreign investment due to militancy, a corrupt bureaucracy and constant political turmoil.
Click to expand...

Majority of the nation is corrupt (who don’t pay taxes) and they have the country nicely placed at 140 on the scale of honesty is one of the major causes.

Lack of honesty in our day to day work is the biggest problem.

Bijli chori, haram khori, rishwat khori and injustice at every single step in norm of the day.
What should be the state of such a nation who doesn’t have a huge oil n gas natural resources?

Right now, this Miftah guy is going to do whatever IMF wants, to loan that $1 Billion.
And soon as this money lands in the treasury’s bank account, the scumbags in the current cabinet are all ready to brutally loot it. What export structure and gdp and industry you talking about?
 
Colorblind Genius said:
Majority of the nation is corrupt (who don’t pay taxes) and they have the country nicely placed at 140 on the scale of honesty is one of the major causes.

Lack of honesty in our day to day work is the biggest problem.

Bijli chori, haram khori, rishwat khori and injustice at every single step in norm of the day.
What should be the state of such a nation who doesn’t have a huge oil n gas natural resources?

Right now, this Miftah guy is going to do whatever IMF wants, to loan that $1 Billion.
And soon as this money lands in the treasury’s bank account, the scumbags in the current cabinet are all ready to brutally loot it. What export structure and gdp and industry you talking about?
Click to expand...

You hit the nail on the head. Unfortunately corruption is so embedded in Pakistani blood - pretty much the generations of the last 3 decades- that it has become normal. That's why when an honest leader comes, the corrupt system starts building hurdles against change. We saw how all sorts of 'mafias' worked against Imran Khan whenever he tried to change something for the better in the particular industry i.e. sugar mafia
 
daytrader said:
You hit the nail on the head. Unfortunately corruption is so embedded in Pakistani blood - pretty much the generations of the last 3 decades- that it has become normal. That's why when an honest leader comes, the corrupt system starts building hurdles against change. We saw how all sorts of 'mafias' worked against Imran Khan whenever he tried to change something for the better in the particular industry i.e. sugar mafia
Click to expand...

Yep. This is a society where people say Nawaz Sharif Agar Khata Hai Tou Lagata Bhi To Hai, and the more educated say Corrupt and competent is better than Incompetence.
 
Colorblind Genius said:
Majority of the nation is corrupt (who don’t pay taxes) and they have the country nicely placed at 140 on the scale of honesty is one of the major causes.

Lack of honesty in our day to day work is the biggest problem.

Bijli chori, haram khori, rishwat khori and injustice at every single step in norm of the day.
What should be the state of such a nation who doesn’t have a huge oil n gas natural resources?

Right now, this Miftah guy is going to do whatever IMF wants, to loan that $1 Billion.
And soon as this money lands in the treasury’s bank account, the scumbags in the current cabinet are all ready to brutally loot it. What export structure and gdp and industry you talking about?
Click to expand...

daytrader said:
You hit the nail on the head. Unfortunately corruption is so embedded in Pakistani blood - pretty much the generations of the last 3 decades- that it has become normal. That's why when an honest leader comes, the corrupt system starts building hurdles against change. We saw how all sorts of 'mafias' worked against Imran Khan whenever he tried to change something for the better in the particular industry i.e. sugar mafia
Click to expand...

Gharib Aadmi said:
Yep. This is a society where people say Nawaz Sharif Agar Khata Hai Tou Lagata Bhi To Hai, and the more educated say Corrupt and competent is better than Incompetence.
Click to expand...

Imran is the same, which is anyone who is not brainwashed by him and doesn’t follow him like sheep can see that he is a certified hypocrite.

He is a beneficiary of corruption and a subscriber of the “khata hai tou lagata bhi hai” theory.

This is why his conscience allowed him to be sponsored and funded by shady businessmen with black money.

His chief financier Jahangir Tareen is one of the most corrupt men in the country. Imran had no issues with him funding his election campaign, buying loyalties of electables so that they can help him win election and also, he had no problem traveling around the country in his jets.

The foundations of Imran’s Naya Pakistan and his utopian Madina riyasat was built on black money, so perhaps this is why it flopped hard and crashed and burned.
 
Kianig89 said:
What a clown he should only focus on making candy's
Click to expand...

"As long as we keep the government away from them" :facepalm: Not only does he not know what Fintechs are, he also has no confidence in the government's ability to help them.
 
Mamoon said:
Imran is the same, which is anyone who is not brainwashed by him and doesn’t follow him like sheep can see that he is a certified hypocrite.

He is a beneficiary of corruption and a subscriber of the “khata hai tou lagata bhi hai” theory.

This is why his conscience allowed him to be sponsored and funded by shady businessmen with black money.

His chief financier Jahangir Tareen is one of the most corrupt men in the country. Imran had no issues with him funding his election campaign, buying loyalties of electables so that they can help him win election and also, he had no problem traveling around the country in his jets.

The foundations of Imran’s Naya Pakistan and his utopian Madina riyasat was built on black money, so perhaps this is why it flopped hard and crashed and burned.
Click to expand...

PTI was founded in 1996. The foundations were set well before Jahangir Tareen joined. Also we all know Jahangir Tareen couldn't benefit from Imran Khan in any way so he split. Credit should go to IK for not buckling down to any pressure from his sponsors.
 
Mamoon said:
Imran is the same, which is anyone who is not brainwashed by him and doesn’t follow him like sheep can see that he is a certified hypocrite.

He is a beneficiary of corruption and a subscriber of the “khata hai tou lagata bhi hai” theory.

This is why his conscience allowed him to be sponsored and funded by shady businessmen with black money.

His chief financier Jahangir Tareen is one of the most corrupt men in the country. Imran had no issues with him funding his election campaign, buying loyalties of electables so that they can help him win election and also, he had no problem traveling around the country in his jets.

The foundations of Imran’s Naya Pakistan and his utopian Madina riyasat was built on black money, so perhaps this is why it flopped hard and crashed and burned.
Click to expand...

JT charged under IK, given an NRO by the mafia. Why is the mafia so desperate to have him on board.
 
daytrader said:
PTI was founded in 1996. The foundations were set well before Jahangir Tareen joined. Also we all know Jahangir Tareen couldn't benefit from Imran Khan in any way so he split. Credit should go to IK for not buckling down to any pressure from his sponsors.
Click to expand...

Imran’s election campaign was funded by Jahangir Tareen. Without his black money, Imran would have become the PM. Tareen was set to become CM Punjab before the Supreme Court disqualified him.

Imran is a hypocrite with no conscience. A beneficiary of corruption.

Speaking of PTI in 1996, most of his original partners have deserted him because they saw his hypocrisy first-hand. One of his key partners at the time, Akbar S. Babar, lodged a foreign funding case against him and Imran has been running away from it for years.
 
Bewal Express said:
JT charged under IK, given an NRO by the mafia. Why is the mafia so desperate to have him on board.
Click to expand...

JT was charged by the SC. Imran was all set to reward him for sponsoring him with his black money by giving him CM Punjab position but SC derailed the plan and the job went to puppet Buzdar who turned out to be a joke as expected.

JT is the king of the sugar mafia and no one has benefited more from mafias than Imran himself. They have been sponsoring him since 1992.
 
Mamoon said:
JT was charged by the SC. Imran was all set to reward him for sponsoring him with his black money by giving him CM Punjab position but SC derailed the plan and the job went to puppet Buzdar who turned out to be a joke as expected.

JT is the king of the sugar mafia and no one has benefited more from mafias than Imran himself. They have been sponsoring him since 1992.
Click to expand...

So this terrible person is now part and parcel of the Nooras and PPP mafia but not a peep from you. Why not? Under IK
He was charged buf under you guys he is in govt. Lol

https://dunyanews.tv/en/Pakistan/596040-PTI-leader-Jahangir-Tareen-to-join-PPP-claims-Shehla-Raza-
 
The foreign exchange reserves held by the central bank decreased 3% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday.

On April 23, the foreign currency reserves held by the SBP were recorded at $10,558.2 million, down $328 million compared with $10,885.7 million on April 16.

According to the central bank, the decrease came due to external debt and other payments.

Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $16,668.2 million. Net reserves held by banks amounted to $6,110 million.

In the week ended August 27, 2021 the foreign exchange reserves held by the central bank soared to an all-time high of $20.15 billion after Pakistan received general allocation of Special Drawing Rights (SDRs) worth $2,751.8 million from the IMF on August 24.

On March 30, 2021, Pakistan borrowed $2.5 billion through Eurobonds by offering lucrative interest rates to lenders aimed at building the foreign exchange reserves.

It received the first loan tranche of $991.4 million from the IMF on July 9, 2019, which helped bolster the reserves. In late December 2019, the IMF released the second loan tranche of around $454 million.

The reserves also jumped on account of $2.5 billion in inflows from China. In 2020, the SBP successfully made foreign debt repayment of over $1 billion on the maturity of Sukuk.

In December 2019, the foreign exchange reserves surpassed the $10 billion mark owing to inflows from multilateral lenders including $1.3 billion from the Asian Development Bank (ADB).

Express Tribune
 
Mamoon said:
Imran’s election campaign was funded by Jahangir Tareen. Without his black money, Imran would have become the PM. Tareen was set to become CM Punjab before the Supreme Court disqualified him.

Imran is a hypocrite with no conscience. A beneficiary of corruption.

Speaking of PTI in 1996, most of his original partners have deserted him because they saw his hypocrisy first-hand. One of his key partners at the time, Akbar S. Babar, lodged a foreign funding case against him and Imran has been running away from it for years.
Click to expand...

So how much did JT contribute? You seriously under estimate IK if you think he was dependant on JT to win
 
daytrader said:
So how much did JT contribute? You seriously under estimate IK if you think he was dependant on JT to win
Click to expand...

He contributed crores.

Imran the freeloader was dependent on not just JY but also other shady businessmen who spent their black money on Imran because they saw him as a investment.
 
Hermoine Green said:
What has PTI ever done?

Pakistan's exports of goods crossed $3 bn for the first time in history in March 2022.

With March exports at $3.072 bn, exports in 9MFY22 are $23.699 bn, showing a growth of 26.6% YoY, on target to reach $32 bn in FY22, In sha Allah. PTI's policies paying off.

FRBFpaZWQAQEfuL
Click to expand...

And what about the ALL TIME HIGH CURRENT ACCOUNT DEFICIT of US $ 13 Billion??


Pakistan's exports have been in the range of US4 25 to 30 billion for last 10 years. Sorry to burst your bubble, IK and PTI had little actual impact on the state of Pakistan's economy.

Pakistan's economic plight has much deeper systemic roots, neither Sharif, nor Bhutto and definitely not IK can change the downward trend if they continue to turn a blind eye on the core issues.
 
Prime Minister Shehbaz Sharif has picked his key aides and members of the country’s billionaire club as members of the Economic Advisory Council to change the economic direction and end protectionist policies – an objective that may make many new members of the body uncomfortable with.

The 22-member body having representation of the government and the private sector also has at least three members of former prime minister Imran Khan’s Economic Advisory Council, according to a notification issued by the Ministry of Finance on Thursday.

The prime minister will chair the EAC, which is initially planned to meet every week. Among the members are former prime minister Shahid Khaqan Abbasi, Planning Minister Ahsan Iqbal, Finance Minister Miftah Ismail, former finance minister Saleem Mandviwalla, Information Minister Marriyum Aurangzeb, Minister of State for Finance Ayesha Ghous Pasha and Minister of State for Petroleum Mussadiq Malik.

Pakistani billionaires have also been included in the EAC. Among prominent ones are one of the richest men, Mian Monammad Mansha and his nephew Shahzad Salim. Mohammad Ali Tabba –the owner of the Lucky Cement, has also been made part of the new EAC. He also served in the Imran Khan’s EAC.

Arif Habib, another billionaire industrialist has also been retained in Shehbaz Sharif’s EAC. Ijaz Nabi -- an economist, has secured the seat in the new EAC. Nabi had also remained part of the previous government’s economic advisory bodies and was among those who supported reducing fuel prices, which eventually led to the derailment of the IMF programme.

Former FBR chairman Tariq Pasha, former petroleum minister Dr Asim Hussain, former banker Atif Bajwa, Faisal Farid – Maxim International Limited; HBL President Aurangzeb Khan, Fauji Foundation Managing Director Waqar Ahmad Malik, senior partner of advisory firm McKinney and Company Salman Ahmed, Fatima Group’s Rahman Naseem and Chairman of the Interloop Group Musadaq Zulqarnain are other members of the EAC.

One of the biggest challenges for Prime Minister Shehbaz Sharif will be to avoid conflict of interest of the EAC members while making policy decisions. The majority of the EAC members are those who have prospered in business due to the protectionist policies and the government’s dole-outs in the shape of subsidies.

Interestingly, one of the terms of reference of the EAC will be to analyse the effectiveness of subsidies, protection and other financial support by the government to state-owned enterprises (SoEs) and other vital sectors of the economy in the context of overall cost and benefit analysis of such subsidies and protection.

Most of the new EAC members are the beneficiary of the state’s protectionist policies and subsidies. The International Monetary Fund had set a condition to end the export refinance facilities being funded by the central bank. It has proposed that any such scheme should be funded by the federal government on a need basis.

The EAC has been established to review and formulate economic policies in a more holistic manner, according to the Ministry of Finance. The EAC will advise on short-term macroeconomic stabilisation as well as structural reforms for stable and sustained economic progress, according to the notification.

Pakistan is in the IMF programme and its economic policies are guided by the Memorandum of Economic and Financial Policies, signed by the country’s Finance Minister and the Governor of the central bank.

Historically, the EAC has never remained an effective forum for serious policy making and the platform is often used for forwarding personal agendas by the members. The new EAC needs to reverse this trend by putting behind their personal business interests.
The bankers, too, are exploiting the government by offering them loans at rates never seen in 20 years –thanks to the wrong decision of completely banning government borrowing from the central bank and a complacent State Bank of Pakistan. The Ministry of Finance’s debt office too remains weak and has not been able to stand against exploitation by the banks.

According to the notification, the Economic Advisory Council will review the overall economic condition of the country and propose possible corrective measures considering available resources of the country.

It will review the existing market imperfections in the various important sectors of the economy in order to promote competition by correcting the market distortions.

The EAC will advise the government ministries, organizations, bodies and various project implementing agencies in formulating evidence-based policies. It will also help in finding the technical expertise and human resource that may be required to carry out the requisite financial and economic analysis/studies.

Express Tribune
 
Mamoon said:
He contributed crores.

Imran the freeloader was dependent on not just JY but also other shady businessmen who spent their black money on Imran because they saw him as a investment.
Click to expand...

Contributed nothing. JT did bugger all and today is nothing and will join the PPP. Kaptaan rules PKs hearts and it makes no difference what these guys do.
 
The Ministry of Finance on Friday forecast tough days ahead — including rising inflation, expanding current account deficit, higher fiscal deficit and dampening economic growth prospects — in the country owing to combination of internal and external challenges of unpredictable tenure.

“The domestic and international scenarios are changing which carry implications for the economic recovery. Meanwhile, inflationary and external sector pressures are creating macroeconomic imbalances in the economy,” said Econo*mic Adviser’s Wing (EAW) of the Ministry of Finance in its Monthly Economic Update & Outlook for April.

The EAW noted that international developments and persistent high domestic inflation may impact domestic economic activities. Among the determining factors of current trends in both international and domestic inflation are supply chain issues and surging international commodity prices. It estimated 11.5-12.5 per cent year-on-year inflation for the current month.

The overall spike in CPI (Consumer Price Index) is on account of an increase in the prices of imported items, as the country is a net importer of such items, especially crude oil, pulses and edible oil, which ultimately transmitted into domestic prices. Upward price movement is further fueled by Ukraine war, supply chain disruption and recovery in global demand.

Under normal circumstances, these prices follow a cyclical pattern. That implies that normally price spikes are followed by a cooling-off period. But the current cycles of international food and oil prices are different. First, the volatility in these markets is high compared to historical standards. Second, due to geo-political tensions, the increasing trend in prices may remain intact.

Therefore, high inflation and accompanying monetary policy reaction may temporarily dampen the cyclical position of Pakistan’s economy, thereby reducing growth prospects in the short run.

According to the finance ministry, high international commodity prices not only keep inflation elevated, they are also a burden on Pakistan’s external account and hence on its foreign exchange reserves.

Many other countries are facing the consequences of high and volatile commodity prices, especially of oil and gas. Strengthening of Pakistan’s overall supply side through increasing its productive potential would allow it to produce more for exports and discourage import. These prospects would relax the external constraint that has historically weighed on Pakistan’s economy and which has caused regular balance of payments crises and an accompanying stop-and-go profile in Pakistan’s economic growth path.

“On the expenditures side, higher subsidies and grants are putting significant pressure on fiscal accounts,” said the finance ministry.

During July-March of FY2022, fiscal deficit has increased to 4pc of GDP against 3pc last year. “It is expected that fiscal deficit may increase further in the coming months,” it added.

The report said the production of all important Kharif crops in Pakistan was encouraging. Cotton production increased by 17.7pc to 8.3 million bales, rice up by 10.7pc to 9.3m tonnes, sugarcane increased by 9.6pc to 88.8m tonnes and maize rose by 8.6pc to 9.7m tonnes.

During July-February FY2022, large-scale manufacturing (LSM) posted a growth of 7.8pc compared to 2.2pc during the same period last fiscal year.

During July-March of the current fiscal year, current account deficit was recorded at $13.2 billion compared to just $275m during the same period last financial year — a massive growth with dire consequences — for exchange rate and foreign exchange reserves.

Current account deficit widened due to the constantly growing import volume of energy and non-energy commodities, along with a rising trend in the global prices of oil, Covid vaccines, food and metals.

For April this year, exports of goods and services are expected to continue their upward trend and imports may remain at the same level in line with domestic economic activity and international commodity prices.

Moreover, economic activities in Pakistan’s main trading partners continue to remain slightly above the trend as some slowdown has been observed due to geo-political uncertainty and surge in commodity prices. If these tensions continue, the country’s growth may be affected as well.

Trade deficit is expected to remain at around $3bn in April. Remittances may remain high compared to previous months due to Eid factor. Taking these factors into account, current account will stay at around $1bn in April.

The provisional net tax collection during July-March FY2022 grew by 28.9pc to Rs4.376 trillion against Rs3.394tr during the same period last fiscal year.

During the first nine months of the current fiscal year, the FBR exceeded its revenue target by 5.8pc. Domestic tax collection grew by 28.1pc during July-March FY2022, direct tax by 26.7pc, sale tax by 31.1pc, FED by 14.9pc and customs duty by 33.7pc.

Published in Dawn, April 30th, 2022
 
Clueless said:
And what about the ALL TIME HIGH CURRENT ACCOUNT DEFICIT of US $ 13 Billion??


Pakistan's exports have been in the range of US4 25 to 30 billion for last 10 years. Sorry to burst your bubble, IK and PTI had little actual impact on the state of Pakistan's economy.

Pakistan's economic plight has much deeper systemic roots, neither Sharif, nor Bhutto and definitely not IK can change the downward trend if they continue to turn a blind eye on the core issues.
Click to expand...

There was a global Pandemic. Everything has become more costly, including oil, which is the main cause of CAD. We were in a scenario where we could've reduced this cost by importing from Russia but looks like that opportunity has passed
 
Clueless said:
And what about the ALL TIME HIGH CURRENT ACCOUNT DEFICIT of US $ 13 Billion??


Pakistan's exports have been in the range of US4 25 to 30 billion for the last 10 years. Sorry to burst your bubble, but IK and PTI had a little actual impact on the state of Pakistan's economy.

Pakistan's economic plight has much deeper systemic roots, neither Sharif nor Bhutto and definitely not IK can change the downward trend if they continue to turn a blind eye on the core issues.
Click to expand...

Pakistan's all-time high CAD was under the PMLN government in 2018. The CAD in 2018 was $19 Billion the CAD despite record low commodity and fuel prices worldwide. in the current fiscal year is likely to cap under $15 billion this fiscal year despite record-high commodity and fuel prices worldwide.

The history of our goods exports since 2001.

Musharraf increased Pakistan's exports from $8.93 Billion to $20.4 Billion in 6 years. That is an average increase of $1.43 Billion.

PPP increased Pakistan's exports from $20.4 Billion to $24.8 Billion in 5 years. That's an average increase of $0.88 Billion

PMLN decreased Pakistan's exports from $24.8 Billion to $24.7 Billion in 5 years. That's an average decrease of $-0.02 billion every year.

PMLN also increased CAD(current account deficit) from $3.13 Billion in 2014 to $19.2 Billion in 2018.

PTI increased Pakistan's exports from $24.7 Billion to more than $30.6 Billion in 3.5 years. That's an average increase of over $1.18 Billion.

The most important thing to mention here

PTI managed to do this in 3.5 years despite the worst pandemic in 100 years causing the global economy to sink at its worst in modern history, while also inheriting a country that was bankrupt on both the fiscal and current account front.
 
daytrader said:
There was a global Pandemic. Everything has become more costly, including oil, which is the main cause of CAD. We were in a scenario where we could've reduced this cost by importing from Russia but looks like that opportunity has passed
Click to expand...

The CAD is nowhere near being record high.
 
DRsohail said:
But we still here in this forum by few posters that PMLN DID GREAT IN ECONOMY.
Click to expand...

It's not worth arguing with them, no amount of logic will get through to them because at the end of the day they know their support for PDM has no logic. It's a cult plain and simple.
 
Hextro said:
It's not worth arguing with them, no amount of logic will get through to them because at the end of the day they know their support for PDM has no logic. It's a cult plain and simple.
Click to expand...

I don't know why anyone with any iota os common sense will support PDM.
 
DRsohail said:
Just to tell you Kalyan has pulled massive supoy even in dir lower and upper,in KP which are supposed to be backward areas.Insane support I am telling you .
Click to expand...

The crooks have to hide because they know they are imported. The fact that 2 weeks of Purana PK has showed why they people hated them so much
 
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