Pakistan has only 2 months of Forex left

[Blackwater]

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

 

[Blackwater]

now how will pakis test NASR block 2,3,4,5??,

 

[nrupatunga]

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.

 

[Yusuf]

Next installment from Uncle will come shortly.

 

[Shirman]

by the way Pakis have placed a Bohra Muslim Mandviwalla as their FM..........Hope he lives upto his community standards even in PAK

 

[roma]

in that case - for this article to have any value , something SERIOUS should be happening in 2 months time

otherwise - it's a bluff ! !!

 

[JBH22]

This is a jewish conspiracy to crush Bakistan economy.

 

[sayareakd]

we need to make them import more weapons. So many that their country will fall on its own weight.

 

[Yusuf]

in that case - for this article to have any value , something SERIOUS should be happening in 2 months time

otherwise - it's a bluff ! !!

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.

 

[Yusuf]

by the way Pakis have placed a Bohra Muslim Mandviwalla as their FM..........Hope he lives upto his community standards even in PAK

Mandviwala eh? His roots are in Gujarat. Mandvi is a town on the coast of Gujarat in the Kutch.

 

[JBH22]

we need to make them import more weapons. So many that their country will fall on its own weight.

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

 

[gokussj9]

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

Only Unkil+IMF, not China. I don't remember China giving them eco-aid.

 

[JBH22]

Only Unkil+IMF, not China. I don't remember China giving them eco-aid.

But China gives them weapons at discount rates

 

[sesha_maruthi27]

Next installment from Uncle will come shortly.

But this time around it won't be aid but raid with cluster bombs and UAV's........

 

[Blackwater]

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

 

[LordOfTheUnderworlds]

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.

 

[Zarvin]

Pakistan will be fine. You can take your hands out of your pants now.

 

[Blackwater]

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.

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

 

[Blackwater]

Pakistan will be fine. You can take your hands out of your pants now.

The sooner you realize the better u can think

 

[farhan_9909]

we are under tough pressure no doubt

but we Pakistanis has now mastered the art of living under such circumstances

anyway a similar 3 years old thread from the related threads

http://defenceforumindia.com/forum/...akistan-could-collapse-within-six-months.html