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Who is to blame for Pakistan's current economic crisis?

Who is to blame for Pakistan's current economic crisis?

  • PTI, as they messed up due to bad policies

    Votes: 0 0.0%
  • No one, the world is bad shape

    Votes: 0 0.0%
  • Both PTI and PDM are to blame

    Votes: 0 0.0%
  • PTI, PDM, world events are to blame

    Votes: 0 0.0%

  • Total voters
    3

MenInG

PakPassion Administrator
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Lots of back and forth

1. PTI saying PDM are incompetent
2. PDM saying they are simply trying to fix what was left for them by PTI

Who (if any) is correct?
 
Neither of them or rather, all of them. The fact that Pakistan is back at the IMF’s doorstep for the 23rd time shows you that the problem is endemic. The country just cannot control its spending & there are hardly any revenue flows to brag about. Plus the political upheaval. In short, a total mess if you see one!
 
Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto-Zardari on Tuesday told a public gathering in Larkana that Benazir Bhutto bravely fought military dictators and her activists have kept her message alive in today's Pakistan.

He made these remarks while addressing the gathering organised on the occasion of the 69th birth anniversary of the slain PPP chairperson and former prime minister.

"It was because of the struggle of PPP jiyalas that Imran Khan was ousted from power via a no-trust move," he told the participants gathered at the venue.

Imran Khan's narrative against corruption is a lie, he added.

The PPP chief further said his party ousted the “selected” after waging a struggle along with two other political parties.

Bilawal said that "power-hungry and criminal Imran Khan Niazi”, who was responsible for the current inflation and several other prevailing economic issues, is roaming free and is accusing others of causing the issues.

“Imran was causing this damage to the people just to stay in power and the burden of it is now being born by the commoners.”

Bilawal asserted that the former premier must be told to respond to his performance, including the cases of corruption emerging now.

Referring to the Tosha Khana case, he said the PTI chief and the former first lady will have to provide answers about their corruption.

He said that Imran Khan has sold a watch gifted to him by a foreign country and also brought a bad name to the country.

“People now know that the slogan of change wasn’t for change, but for the destruction of the country."

Imran Khan, he added, begged other countries for funds and is now resorting to mudslinging against his political rivals.

Likewise, he added, the government will eventually succeed in retaining the GSP+ status for the country and bring more glad tidings for exports.

“These are the things that we achieved by focusing on our work, instead of resorting to mudslinging, he said,” while taking a veiled jibe at the PTI chief

He ensured that the government is working day and night to ensure that the country was put back on the path of stability and progress.

“It was because of the struggle by Prime Minister Shehbaz Sharif that Pakistan was saved from going bankrupt.”

The PPP leader, who is also the foreign minister, maintained that he had been visiting several countries. “Our policy is not to beg but to trade with other countries.”

“We put immense effort into taking Pakistan out of the Financial Action Taskforce (FATF) grey list and it is hoped that by October, when an on-site visit is due, we will achieve this objective.”

He went on to say that Pakistan was facing two "FIRs" against it in FATF; one related to money laundering while the other related to terror financing.

Earlier, while addressing the gathering, Sindh Chief Minister Murad Ali Shah that the coming generations will keep the slogans of the party high and achieve them.

He added that the party activists will never forget Benazir Bhutto's message and will keep it alive with zeal and zest.

Earlier today, Prime Minister Shehbaz Sharif paid tributes to the PPP chairperson and said democracy is "poorer" without her; the void "left by her martyrdom will never be filled".

He recalled the former prime minister fearlessly and staunchly advocated the causes she believed in.

Express Tribune
 
PDM's incompetence is for all to see. The crooks banded together for only one mission which was to kick out IK. They have no plans on how to deal with the economic fallout. All they care about is filling their own pockets and getting out of cases against them. In fact they don't even believe in corruption holding back the country, their minister of planning just stated so.
 
For a very long time the Pakistani nation has been spending beyond its means. Ever Since we took on the CPEC, our Imports have increased ten folds while our exports have stagnated. Are the chinese loans we have taken over the last decade even being spent on projects which will give a ROI?

We are heading in Sri Lanka's direction where the bulk of the Chinese Loans they took have been spent on projects which zero returns and the result is now in front of everyone.
 
Pakistan has been mismanaged since the late 60s, its generations of myopic politicians, a society where corruption is endemic, and an unsustainably resource-intensive military.

I could go into detail but it would end up being a whole essay, however, if anyone wants a summary Pakistan's issue is that the economy adds no value and thus struggles to generate capital returns which can sustain its population growth.
 
For a very long time the Pakistani nation has been spending beyond its means. Ever Since we took on the CPEC, our Imports have increased ten folds while our exports have stagnated. Are the chinese loans we have taken over the last decade even being spent on projects which will give a ROI?

We are heading in Sri Lanka's direction where the bulk of the Chinese Loans they took have been spent on projects which zero returns and the result is now in front of everyone.

The issue with Chinese loans is the tenure and interest rate.

“The higher interest rates become evident when viewed along with Pakistan’s interest payments to its creditors. During 2019-20, the total lending to Pakistan by Paris Club countries and China was about the same – but the interest outflow on Chinese loans was four times higher. In the past two years, Pakistan has paid out just $7.6 million in interest to the Paris club – likely relief on account of Covid — while it has paid over $400 million to China.”

https://indianexpress.com/article/opinion/columns/pakistan-borrower-debt-china-7980726/

—- the above is an Indian article so should not be completely taken with face value.
 
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Nawaz says Faiz, Bajwa responsible for current Pakistan mess
“We have been treated unjustly and cruelly and it’s my responsibility to point that out,” says PML-N supremo

Former prime minister and PMLN supremo Nawaz Sharif on Thursday singled out General (retd) Bajwa and Lt General (retd) Faiz Hameed for spinning Pakistan around for their personal wishes and whims in the form of installing Pakistan Tehreek-e-Insaf (PTI) government in 2018.

Speaking to the media after a long time here on Thursday evening after holding talks with his party colleagues including Interior Minister Rana Sanaullah, the former PM reminded people of his Gujranwala speech to a PDM rally on Oct 16, 2020 in which he shocked Pakistan by directly accusing former army chief General (retd) Qamar Bajwa and former ISI chief Lt General (retd) Faiz Hameed of rigging elections, installing Imran Khan as prime minister in violation of the Constitution, removing his government, muzzling the media, pressurising the judiciary and victimising opposition politicians.

Nawaz Sharif said on Thursday that he had pointed out in Gujranwala speech who was responsible for the mess Pakistan was in and how a group of people conspired to take over Pakistan. Nawaz Sharif said that Lt General (R) Faiz and General (R) Bajwa were responsible for making it all about their personalities, their wishes and desires.

...
https://www.thenews.com.pk/print/1032381-nawaz-says-faiz-bajwa-responsible-for-current-pakistan-mess
 
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