Pakistan has only 2 months of Forex left

Discussion in 'Pakistan' started by Blackwater, Feb 20, 2013.

  1. Blackwater

    Blackwater Veteran Member Veteran Member

    Joined:
    Jan 9, 2012
    Messages:
    20,995
    Likes Received:
    11,830
    Location:
    Akhand Bharat
    SLAMABAD: Saleem Mandviwalla has replaced Abdul Hafeez Shaikh as the Finance Minister of Pakistan. Mandviwalla was previously serving as the State Minister for Finance.

    Saleem Mandviwalla also sworn in as Finance Minister after resignation of Dr Hafeez Sheikh.

    Hafeez Shaikh resigned on Tuesday amid speculation that he might be offered an important post in the caretaker government.

    “Yes, I have resigned from the ministerial slot,” the outgoing finance minister Dr Sheikh confirmed in brief reply when contacted by The News.

    He said that he was sitting with ministry staff to extend them thanks for their contribution during his tenure and promised to talk in details after sometime.

    Shaikh leaves as the Pakistan currency has slid to a historic low against the dollar and the economy is beset by inflation, daily power cuts and plummeting foreign investment.

    Pakistan is left with reserves just enough to pay for two months worth of imports. In 2008, that situation prompted a balance of payments crisis only ended when the International Monetary Fund offered a bailout package of $11 billion.

    But in 2011, that program was suspended after Shaikh was unable to push through key reforms, most notably widening Pakistan's tax base.

    The IMF has said it will not consider rescheduling repayments of the $6.2 billion Pakistan still owes without a comprehensive plan for reform agreed on by all political parties.

    Dr Sheikh had assumed the ministerial slot in April 2010 when Shaukat Tarin resigned after surfacing differences with PPP leadership on different issues and also because of his personl reasons. Dr Sheikh served as Minister for Finance for almost three years.

    His opponents say that his laidback and lethargic attitude had caused severe loss to Pakistan’s economy as he miserably failed to pursue reform agenda.

    Saleem Mandviwalla replaces Hafeez Shaikh as Finance Minister - geo.tv
     
    A chauhan likes this.
  2.  
  3. Blackwater

    Blackwater Veteran Member Veteran Member

    Joined:
    Jan 9, 2012
    Messages:
    20,995
    Likes Received:
    11,830
    Location:
    Akhand Bharat
    now how will pakis test NASR block 2,3,4,5??,:rofl::rofl::rofl::rofl:
     
    gokussj9 likes this.
  4. nrupatunga

    nrupatunga Senior Member Senior Member

    Joined:
    Feb 10, 2013
    Messages:
    2,307
    Likes Received:
    949
    Location:
    BendakaLuru
    Pakis need not worry. They (elite) have kerry to help them out. Also by cleaning up shias, they(wahabbis) can not just claim aid but also bonus from their benefactor i.e. saudis. Anyways who cared about common man over there.
     
    Last edited: Feb 20, 2013
    parijataka and gokussj9 like this.
  5. Yusuf

    Yusuf GUARDIAN Administrator

    Joined:
    Mar 24, 2009
    Messages:
    24,274
    Likes Received:
    11,283
    Location:
    BANGalore
    Next installment from Uncle will come shortly.
     
  6. Shirman

    Shirman Regular Member

    Joined:
    Dec 13, 2012
    Messages:
    689
    Likes Received:
    395
    Location:
    Siyasat-e-Hind
    by the way Pakis have placed a Bohra Muslim Mandviwalla as their FM..........Hope he lives upto his community standards even in PAK
     
  7. roma

    roma NRI in Europe Senior Member

    Joined:
    Aug 10, 2009
    Messages:
    3,248
    Likes Received:
    1,863
    in that case - for this article to have any value , something SERIOUS should be happening in 2 months time

    otherwise - it's a bluff ! !!
     
  8. JBH22

    JBH22 Senior Member Senior Member

    Joined:
    Jul 29, 2010
    Messages:
    3,620
    Likes Received:
    2,390
    [​IMG]

    This is a jewish conspiracy to crush Bakistan economy.
     
  9. sayareakd

    sayareakd Moderator Moderator

    Joined:
    Feb 17, 2009
    Messages:
    15,625
    Likes Received:
    11,703
    we need to make them import more weapons. So many that their country will fall on its own weight.
     
    Prometheus and SilentKiller like this.
  10. Yusuf

    Yusuf GUARDIAN Administrator

    Joined:
    Mar 24, 2009
    Messages:
    24,274
    Likes Received:
    11,283
    Location:
    BANGalore
    Nothing has and will happen. Last time Pak secured an IMF loan. Plus add te western aid, well US aid to be precise which bails them out.
     
  11. Yusuf

    Yusuf GUARDIAN Administrator

    Joined:
    Mar 24, 2009
    Messages:
    24,274
    Likes Received:
    11,283
    Location:
    BANGalore
    Mandviwala eh? His roots are in Gujarat. Mandvi is a town on the coast of Gujarat in the Kutch.
     
    Shirman likes this.
  12. JBH22

    JBH22 Senior Member Senior Member

    Joined:
    Jul 29, 2010
    Messages:
    3,620
    Likes Received:
    2,390
    They have USA and China to bail them plus they are so shameless that they will go around the world blackmailing everyone that if their economy goes into shit their nuclear weapons will fall in wrong heads.

    As its said Bakistan negotiate by putting a gun on itself
     
    sayareakd and sesha_maruthi27 like this.
  13. gokussj9

    gokussj9 Senior Member Senior Member

    Joined:
    Nov 25, 2012
    Messages:
    1,068
    Likes Received:
    1,137
    Location:
    USA
    Only Unkil+IMF, not China. I don't remember China giving them eco-aid.
     
  14. JBH22

    JBH22 Senior Member Senior Member

    Joined:
    Jul 29, 2010
    Messages:
    3,620
    Likes Received:
    2,390
    But China gives them weapons at discount rates :p
     
  15. sesha_maruthi27

    sesha_maruthi27 Senior Member Senior Member

    Joined:
    Aug 15, 2010
    Messages:
    3,884
    Likes Received:
    1,568
    Location:
    Hyderabad, Andhra Pradesh(INDIA)
    But this time around it won't be aid but raid with cluster bombs and UAV's........
     
    pmaitra likes this.
  16. Blackwater

    Blackwater Veteran Member Veteran Member

    Joined:
    Jan 9, 2012
    Messages:
    20,995
    Likes Received:
    11,830
    Location:
    Akhand Bharat
    As long as NATO and US forces needs Karachi port to withdrawal , Pakistan is in position to blackmail them.

    do not forgot foolish arabs ,who get blackmailed by pakis in the name of ISLAM.

    Interesting to see ,how will USA open and play its card.


    Last but not the least Pakis are the world best begger and blackmaller
     
  17. LordOfTheUnderworlds

    LordOfTheUnderworlds Regular Member

    Joined:
    Feb 9, 2013
    Messages:
    557
    Likes Received:
    407
    Location:
    Patal Lok
    apart from aid, they get large amount of foreign exchange from remittances of overseas pakistanis; they also have some industrial base and export agriculture produce. everytime somehow they manage to avoid default.
     
  18. Zarvin

    Zarvin Regular Member

    Joined:
    Jul 25, 2012
    Messages:
    302
    Likes Received:
    54
    Location:
    The edge of the world!!
    Pakistan will be fine. You can take your hands out of your pants now.:rolleyes:
     
  19. Blackwater

    Blackwater Veteran Member Veteran Member

    Joined:
    Jan 9, 2012
    Messages:
    20,995
    Likes Received:
    11,830
    Location:
    Akhand Bharat
    True , if you dissect Pakistan , you will see pakis are ruled by few Elite called wadera(landlord) still hold 1000 of acres/morabas of land. 99% of them are MPA or MNA
    (In indian terms like MP and MLA). these elite and their kids hold foreign citizenship and properties. they got no stake in Pakistan.

    these are the people who are responsible of pakistan condition today.as they are the ones who sleep on army bed and invite them to rule
     
  20. Blackwater

    Blackwater Veteran Member Veteran Member

    Joined:
    Jan 9, 2012
    Messages:
    20,995
    Likes Received:
    11,830
    Location:
    Akhand Bharat
    [​IMG]

    [​IMG]

    The sooner you realize the better u can think
     
  21. farhan_9909

    farhan_9909 Tihar Jail Banned

    Joined:
    Aug 30, 2012
    Messages:
    5,895
    Likes Received:
    496
    Location:
    Abbottabad,Bannu
    Zarvin likes this.

Share This Page