The Juggernaut
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Today, Pakistan Stock Exchange suffers biggest intra-day fall today KSE100 has dropped 1,290 Points (3.07%).
Pakistan Economy: News & Discussion
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Mike Sir say if we could somehow seperate Baluchistan from Pakistan then can we leverage from this new entity, what is the chance of Balucistan turning into next AfghanistanGwadar, what the Porkis call the 'mega oil city' and the next Singapore (!) is going to get screwed with all feeder dams running dry and their only water desalination plant out of commission owing to the high cost of operating the plant and lack of maintenance!
Hanna Lake, Balochistan a few years back....
Hanna Lake now.....
In other words, Pakis are fooked!
Cheers!
Mikesingh
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Good question! Insurgencies by Baloch nationalists have been fought in 1948, 1958–59, 1962–63 and 1973–77, with an ongoing and stronger, broader insurgency beginning in 2003 till today. Islamabad's militarized approach has led to violence, widespread human rights abuses, mass internal displacement and the deaths of hundreds of civilians. The Human Rights Commission of Pakistan identified the Pak Army/ISI and Frontier Corps as the perpetrators for most of the disappearances.
So, is Balochistan integrated into the state of Pakistan to the extent it needs to be? Far from it. More than half the population in Balochistan is poverty stricken, infrastructure is lacking, health care is almost non existent, there is acute water shortage, insurgency is rampant, religious extremism is rearing its ugly head, sectarianism thrives and except for cities like Quetta, development is inadequate.
Importantly, most of the natural resources of Balochistan do not benefit the native population directly.
The fact is that Balochistan is a predominantly Sunni Islam province. Religious extremism is on the rise in Balochistan. Several factors are driving this, but what is of most concern is Balochistan’s northern regions, specifically Zhob district, which adjoins the Federally Administered Tribal Areas (FATA).
Religious extremism in Balochistan did not arise suddenly but rather as a phenomenon that has developed over decades. Although Balochistan has historically been a secular province, it began to transform in the early 80s as Afghan mujahideen were given safe sanctuaries in these provinces by the Pakistani deep state.
At the time of General Zia-ul-Haq, when religious extremism came to Pakistan, Balochistan was not badly affected by Zia’s policies, but what did have an impact was the arrival of Afghan refugees in Quetta and elsewhere in the province. From the Pashtun belt of Balochistan mujahideen elements brought with them the sentiments of jihad and religious extremism.
One thing is clear: Moderate Baloch nationalists and even Pashtun nationalists all oppose religious extremism in Balochistan. If the secular political parties of Balochistan, or those people with secular ideology, were to unite against religious extremism in Balochistan, it could be countered though it may not be easy.
However, if these moderates and nationalists fail to unite, the extremists cannot be defeated, because they are state-sponsored by Pakistan and have the financial backing of the Gulf-states. Further, the pan-Islamic organizations, including Jamaat-e-Islami, the Muslim Brotherhood and the Hizb-ut-Tahrir are campaigning worldwide, including Balochistan, to revive the so called Muslim Caliphate.
Thus, considering the religious ideology and extremism which is on the ascendency in Balochistan, secularism will have no place even if Balochistan becomes independent. It seems the moderates and secular nationalists are fighting a losing battle against Islamist extremism in Balochistan.
So, even if Balochistan is separated from Pakistan we may not have much of an advantage due to Islamist extremism. It will become another Pakistan with a religious identity that is anti Hindu which the Islamists dub as the religion of Kafirs. The small pro India minority will have no say in the affairs of this Islamic state.
In a nutshell, there would be little advantage to be gained by us if Balochistan is separated from Pakistan. It however will hurt the Pakistanis the most as well as China due to the huge investments made on the CPEC project as its fate would be unpredictable. Iran too would need to tread carefully as they too have a Balochistan which is known as Sistan Balochistan where there could be an uprising for a united Greater Balochistan based on Muslim religious ideology though the Sistanis are predominantly Shia.
However, the opposite could hold true also as there could be a conflict between the Shias of Sistan and the Sunni fundamentalists of Balochistan who are gaining ground there. Needless to say, a complex situation in the making!
Mike
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Current State of Pakistan is what could have happened to us if Indian govt had not brought land reforms early on. Majority of their farmlands are under few feudal lords(like Nawaz sharif), which leaves a large section of the population as landless farmers.
The curse on Pakistan started immediately after killing of Kashmiri pundits. If you see the official list of terrorist activists in Pakistan, they start in 1991.
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As per reports, Pakistan is facing worst flood in 38 years right now. Lahore is submerged. Flood situation is same on both side of border.
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Fact check: Terroristan is running pillar to post to survive, so far they are exshosted most external money sources. So, they come up with new gimmick to fool by amnesty scheme, this scheme it self is a joke, since fraudsters have to only pay 2-5% of actual fraud. Dichotomy of Paki is if you pay your taxes regularly then you have to pay more, but if you do corruption they paki've to pay only 2-5%.
But even after such lucrative amnesty scheme, it haven't fetched much, this shows complete distrust of pakis in their governance.
Amesty scheme going down the drain
ISLAMABAD:
Nearly $6 billion worth of foreign assets – hardly 4% of the estimated wealth hidden abroad – have so far been declared under the offshore tax amnesty scheme, with Pakistanis repatriating a paltry sum of less than $30 million.
“Initial figures for the period of April 10 to June 30 show that Pakistanis have paid $290 million in taxes on nearly $6 billion of declared assets,” said sources in the State Bank of Pakistan.
They said the liquid assets that were transferred to Pakistan were around $30 million – even less than 1% of the conservative estimates of $3 billion.
The caretaker government has already given one-month extension in the scheme till July 31 that may improve the situation provided the tax machinery and the central bank wholeheartedly back the scheme and remove all the bottlenecks.
FBR includes offshore income in scope of tax amnesty scheme
The initial results for the first phase of the offshore amnesty scheme indicates that the FBR was the beneficiary that made a claim of over Rs35 billion ($290 million) of one-off taxes paid under the offshore scheme. This was despite the fact that the FBR created hurdles in the way of the scheme instead of playing a role of a facilitator.
So far, about Rs2.5 trillion worth of assets have been declared under the domestic and offshore tax amnesty schemes and at least Rs75 billion taxes were paid, excluding the Payment Slip IDs. The results of the offshore tax amnesty scheme showed that majority of the assets were declared under the domestic amnesty scheme.
An April 5, 2017 assessment of the chartered accountancy firm, A F Ferguson, showed that Pakistanis hold about $150 billion worth of assets abroad. Those included $40 billion investments in the real estate, $40 billion in bank balance and foreign securities; $20 billion investments in Pakistani companies’ shares and $50 billion worth assets were of miscellaneous nature.
The expectations for repatriations of these assets were never high from the beginning but no one would have expected that only $26 million, to be precise, will be repatriated.
In its presentation to the then government, the chartered accountancy firm had cautioned that expectations that whole or a major part of foreign assets, if declared, would be repatriated was wrong. Even if 2% to 3% that came to $3 billion to $4.5 billion was actually repatriated that would be a success, according to it.
However, mere $26 million repatriation was not a success by any standards. Tax and legal experts who have been engaged by their clients blame the FBR and the SBP for the poor show.
“Delay in finalisating the rules for investments in the dollar-denominated amnesty bonds and non-issuance of rules for repatriation of investment in foreign securities till today were the key reasons behind negligible repatriation of foreign assets to Pakistan,” said Shabbar Zaidi, senior partner of A F Ferguson.
He said that $60 billion offshore assets out of $150 billion remained outside the scope of the scheme due to non-issuance of foreign securities-related investment rules.
Federal cabinet extends tax amnesty scheme for a month
But a senior official of the central bank said it was the responsibility of the federal government to frame and approve those rules.
“The SBP cannot be blamed for the delay caused by the FBR or the finance ministry,” he added.
The central bank official said another reason for the poor response was that the authorities concerned could not convince people that it was ‘the last opportunity’ for those who have kept their assets hidden abroad. [ Aam abdul prefer to stash assets outside than in Terroristan. the complete distrust in Terroristan. Now they are begging every Pakis to donate to build dams to save water, don't know how will it succeed? ]
The FBR started the campaign to promote the tax amnesty scheme very late – hardly ten days before its original expiry date. “The campaign was selective and unconvincing,” said tax experts.
Former FBR chairman Tariq Pasha lately made half-hearted attempts when he visited a few cities during the last week of June. His two close associates made the things worse by giving confusing clarifications.
“The FBR’s question No: 53, that excluded income earned during FY2017-18 from the scope of the scheme broke the momentum,” according to a legal expert.
The FBR’s explanation was illegal at that time. In order to cover its faux pas, the FBR brought an amendment to the original Foreign Assets Declaration Act through a presidential ordinance, issued on June 30.
The FBR further shattered the investors’ confidence when it issued question No: 66 that brought foreign source income under the scope of the amnesty scheme.
Another reason was that the country’s second largest bank that has branches overseas did not back the scheme till June 28.
But even after such lucrative amnesty scheme, it haven't fetched much, this shows complete distrust of pakis in their governance.
Amesty scheme going down the drain
ISLAMABAD:
Nearly $6 billion worth of foreign assets – hardly 4% of the estimated wealth hidden abroad – have so far been declared under the offshore tax amnesty scheme, with Pakistanis repatriating a paltry sum of less than $30 million.
“Initial figures for the period of April 10 to June 30 show that Pakistanis have paid $290 million in taxes on nearly $6 billion of declared assets,” said sources in the State Bank of Pakistan.
They said the liquid assets that were transferred to Pakistan were around $30 million – even less than 1% of the conservative estimates of $3 billion.
The caretaker government has already given one-month extension in the scheme till July 31 that may improve the situation provided the tax machinery and the central bank wholeheartedly back the scheme and remove all the bottlenecks.
FBR includes offshore income in scope of tax amnesty scheme
The initial results for the first phase of the offshore amnesty scheme indicates that the FBR was the beneficiary that made a claim of over Rs35 billion ($290 million) of one-off taxes paid under the offshore scheme. This was despite the fact that the FBR created hurdles in the way of the scheme instead of playing a role of a facilitator.
So far, about Rs2.5 trillion worth of assets have been declared under the domestic and offshore tax amnesty schemes and at least Rs75 billion taxes were paid, excluding the Payment Slip IDs. The results of the offshore tax amnesty scheme showed that majority of the assets were declared under the domestic amnesty scheme.
An April 5, 2017 assessment of the chartered accountancy firm, A F Ferguson, showed that Pakistanis hold about $150 billion worth of assets abroad. Those included $40 billion investments in the real estate, $40 billion in bank balance and foreign securities; $20 billion investments in Pakistani companies’ shares and $50 billion worth assets were of miscellaneous nature.
The expectations for repatriations of these assets were never high from the beginning but no one would have expected that only $26 million, to be precise, will be repatriated.
In its presentation to the then government, the chartered accountancy firm had cautioned that expectations that whole or a major part of foreign assets, if declared, would be repatriated was wrong. Even if 2% to 3% that came to $3 billion to $4.5 billion was actually repatriated that would be a success, according to it.
However, mere $26 million repatriation was not a success by any standards. Tax and legal experts who have been engaged by their clients blame the FBR and the SBP for the poor show.
“Delay in finalisating the rules for investments in the dollar-denominated amnesty bonds and non-issuance of rules for repatriation of investment in foreign securities till today were the key reasons behind negligible repatriation of foreign assets to Pakistan,” said Shabbar Zaidi, senior partner of A F Ferguson.
He said that $60 billion offshore assets out of $150 billion remained outside the scope of the scheme due to non-issuance of foreign securities-related investment rules.
Federal cabinet extends tax amnesty scheme for a month
But a senior official of the central bank said it was the responsibility of the federal government to frame and approve those rules.
“The SBP cannot be blamed for the delay caused by the FBR or the finance ministry,” he added.
The central bank official said another reason for the poor response was that the authorities concerned could not convince people that it was ‘the last opportunity’ for those who have kept their assets hidden abroad. [ Aam abdul prefer to stash assets outside than in Terroristan. the complete distrust in Terroristan. Now they are begging every Pakis to donate to build dams to save water, don't know how will it succeed? ]
The FBR started the campaign to promote the tax amnesty scheme very late – hardly ten days before its original expiry date. “The campaign was selective and unconvincing,” said tax experts.
Former FBR chairman Tariq Pasha lately made half-hearted attempts when he visited a few cities during the last week of June. His two close associates made the things worse by giving confusing clarifications.
“The FBR’s question No: 53, that excluded income earned during FY2017-18 from the scope of the scheme broke the momentum,” according to a legal expert.
The FBR’s explanation was illegal at that time. In order to cover its faux pas, the FBR brought an amendment to the original Foreign Assets Declaration Act through a presidential ordinance, issued on June 30.
The FBR further shattered the investors’ confidence when it issued question No: 66 that brought foreign source income under the scope of the amnesty scheme.
Another reason was that the country’s second largest bank that has branches overseas did not back the scheme till June 28.
The Juggernaut
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I heard that Sink holes appeared in Lahore, means Chinese has done some "Made in China" project in Lahore.
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Sinkholes have nothing to do with Chinese.... it’s just water flow under the road....
The Juggernaut
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Pakistan seeks more loans from China to avert currency crisis
Pakistan seeks more loans from China to avert currency crisis Islamabad warns return to IMF would put $60bn of Chinese investment at risk Pakistani policemen stand guard during the unveiling ceremony of the first set of carriages of the Lahore Orange Line Metro Train last year © AFP Share on Twitter (opens new window) Share on Facebook (opens new window) Share on LinkedIn (opens new window) Save Save to myFT Farhan Bokhari in Islamabad and Kiran Stacey in New Delhi 15 HOURS AGO Print this page17 Pakistan has asked China to keep lending it money to avert a foreign currency crisis, warning that Beijing’s planned $60bn investment in the south Asian country was at risk if it failed to do so. Pakistan borrowed $4bn from China in the year ending June 2018, according to government officials, and wants to keep the money flowing to avoid having to ask the IMF for a bailout. Officials in Islamabad have warned their Chinese counterparts that if the lending dries up, it could threaten the future of the China-Pakistan Economic Corridor, the cornerstone of President Xi Jinping’s Belt and Road Initiative. They say that if Pakistan is forced to approach the IMF instead, it may have to disclose details of how the scheme is being funded, and even cancel some of the infrastructure projects already planned. One Pakistani government official said: “We had a detailed discussion with the Chinese and we shared our concern. The main issue is that once we are locked in an IMF programme, we will have to make full disclosure of the terms on which China has agreed to build the CPEC.” Another added: “Once the IMF looks at CPEC, they are certain to ask if Pakistan can afford such a large expenditure given our present economic outlook.” Pakistan’s stocks of foreign reserves have been falling for the past two years, as imports rise and remittances from abroad have fallen. But the slide has gathered pace in recent few months, due in part to higher oil prices pushing up the price of imported goods. By the beginning of June, the State Bank of Pakistan had just $10bn worth of foreign currency, down from $16.1bn a year earlier and not even enough to cover two months’ worth of imports. The situation is set to become even more urgent in 2019, when $12.7bn of external repayments are due, compared with $7.7bn this year. Stephen Schwartz, a senior director at the rating agency Fitch, said: “We have elections at the end of July, and the new government will have to immediately draw up further and considerable policies to stabilise the external finances.” Recommended Adnan Aamir China’s Belt and Road plans dismay Pakistan’s poorest province Islamabad has so far avoided having to return to the IMF after exiting its last programme in 2016, in part through Chinese lending, and more recently by devaluing its currency 13 per cent against the dollar. The dependency on money from Chinese state-backed banks has started to worry some people, who say that the country’s increasingly close economic and military ties with its northern neighbour risk turning it into a de facto client state. Many in the country have now begun to argue that it should instead face the perceived humiliation of returning to the IMF. Sakib Sherani, a former adviser to the finance ministry, said Pakistan must raise a further $28bn this financial year to keep up with debt repayments. “It is vital to restore the market’s confidence in Pakistan’s ability to keep up with its repayments,” he said. “The IMF is the only option to deal with this tough situation.”
Pakistan seeks more loans from China to avert currency crisis Islamabad warns return to IMF would put $60bn of Chinese investment at risk Pakistani policemen stand guard during the unveiling ceremony of the first set of carriages of the Lahore Orange Line Metro Train last year © AFP Share on Twitter (opens new window) Share on Facebook (opens new window) Share on LinkedIn (opens new window) Save Save to myFT Farhan Bokhari in Islamabad and Kiran Stacey in New Delhi 15 HOURS AGO Print this page17 Pakistan has asked China to keep lending it money to avert a foreign currency crisis, warning that Beijing’s planned $60bn investment in the south Asian country was at risk if it failed to do so. Pakistan borrowed $4bn from China in the year ending June 2018, according to government officials, and wants to keep the money flowing to avoid having to ask the IMF for a bailout. Officials in Islamabad have warned their Chinese counterparts that if the lending dries up, it could threaten the future of the China-Pakistan Economic Corridor, the cornerstone of President Xi Jinping’s Belt and Road Initiative. They say that if Pakistan is forced to approach the IMF instead, it may have to disclose details of how the scheme is being funded, and even cancel some of the infrastructure projects already planned. One Pakistani government official said: “We had a detailed discussion with the Chinese and we shared our concern. The main issue is that once we are locked in an IMF programme, we will have to make full disclosure of the terms on which China has agreed to build the CPEC.” Another added: “Once the IMF looks at CPEC, they are certain to ask if Pakistan can afford such a large expenditure given our present economic outlook.” Pakistan’s stocks of foreign reserves have been falling for the past two years, as imports rise and remittances from abroad have fallen. But the slide has gathered pace in recent few months, due in part to higher oil prices pushing up the price of imported goods. By the beginning of June, the State Bank of Pakistan had just $10bn worth of foreign currency, down from $16.1bn a year earlier and not even enough to cover two months’ worth of imports. The situation is set to become even more urgent in 2019, when $12.7bn of external repayments are due, compared with $7.7bn this year. Stephen Schwartz, a senior director at the rating agency Fitch, said: “We have elections at the end of July, and the new government will have to immediately draw up further and considerable policies to stabilise the external finances.” Recommended Adnan Aamir China’s Belt and Road plans dismay Pakistan’s poorest province Islamabad has so far avoided having to return to the IMF after exiting its last programme in 2016, in part through Chinese lending, and more recently by devaluing its currency 13 per cent against the dollar. The dependency on money from Chinese state-backed banks has started to worry some people, who say that the country’s increasingly close economic and military ties with its northern neighbour risk turning it into a de facto client state. Many in the country have now begun to argue that it should instead face the perceived humiliation of returning to the IMF. Sakib Sherani, a former adviser to the finance ministry, said Pakistan must raise a further $28bn this financial year to keep up with debt repayments. “It is vital to restore the market’s confidence in Pakistan’s ability to keep up with its repayments,” he said. “The IMF is the only option to deal with this tough situation.”
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With current wave of terror blasts(chickens have come home to roost), one wonder what Terroristani coward army is doing to prove it's worth. Here what I found.
Terroristan Army that does everything from Baking bread to constructing building, but fighting at border. Of course they have out sourced that to Jehadis Here is the list.
It is estimated by aljazeera, they run commercial business of $20bn.
ISLAMABAD: The Senate was provided on Wednesday details of commercial entities being run by various wings of the armed forces in the country.
In a written reply to a question asked by Senator Farhatullah Babar of the Pakistan Peoples Party, Defence Minister Khwaja Asif informed the house that there were nearly 50 “projects, units and housing colonies” functioning in the country under the administrative control of Fauji Foundation, Shaheen Foundation, Bahria Foundation, Army Welfare Trust (AWT) and Defence Housing Authorities (DHAs).
According to the details provided in the reply, eight DHAs were established in major cities. These DHAs — mostly created through ordinances — are in Karachi, Lahore, Rawalpindi-Islamabad, Multan, Gujranwala, Bahawalpur, Peshawar and Quetta.
Besides, there are 16 “projects/units” functioning under the AWT, 15 under the Fauji Foundation and 11 under the Shaheen Foundation.
The house was informed that Bahria Foundation was not administrating any housing colony in Pakistan, “however, an offshore tolling type LNG project is under its consideration”.
Bahria Foundation not administrating any housing colony, Senate told
The projects/units being run by the AWT are:
Similarly, the projects, units and housing colonies under the administrative control of Shaheen Foundation, which is a trust of the Pakistan Air Force, are:
Turkish people supported
Later, the house unanimously passed a resolution expressing solidarity with the democratic government and people of Turkey. The resolution was tabled by Azam Swati of the Pakistan Tehreek-i-Insaf.
“The Senate admires, congratulates and pays its tribute to the brave people of Turkey who displayed an uncommon courage by upholding democratic norms and defeated military coup and saved their country from anarchy and civil war,” says the resolution.
“It was so moving to see common Turks took to the streets and world witnessed that human flesh stopped steel tanks on just a single call of its leader, President Recep Tayyip Erdogan,” says the resolution, which “admired all opposition political parties for their historic and unprecedented resolve to protect democracy.”
During the question hour, Law Minister Zahid Hamid informed the house that India had made 460km-long fence along the Line of Control (LoC).
He said the issue of LoC violations by India had been raised at the UN Security Council through a letter that had also been circulated among all its members.
Published in Dawn, July 21st, 2016
Terroristan Army that does everything from Baking bread to constructing building, but fighting at border. Of course they have out sourced that to Jehadis Here is the list.
It is estimated by aljazeera, they run commercial business of $20bn.
ISLAMABAD: The Senate was provided on Wednesday details of commercial entities being run by various wings of the armed forces in the country.
In a written reply to a question asked by Senator Farhatullah Babar of the Pakistan Peoples Party, Defence Minister Khwaja Asif informed the house that there were nearly 50 “projects, units and housing colonies” functioning in the country under the administrative control of Fauji Foundation, Shaheen Foundation, Bahria Foundation, Army Welfare Trust (AWT) and Defence Housing Authorities (DHAs).
According to the details provided in the reply, eight DHAs were established in major cities. These DHAs — mostly created through ordinances — are in Karachi, Lahore, Rawalpindi-Islamabad, Multan, Gujranwala, Bahawalpur, Peshawar and Quetta.
Besides, there are 16 “projects/units” functioning under the AWT, 15 under the Fauji Foundation and 11 under the Shaheen Foundation.
The house was informed that Bahria Foundation was not administrating any housing colony in Pakistan, “however, an offshore tolling type LNG project is under its consideration”.
Bahria Foundation not administrating any housing colony, Senate told
The projects/units being run by the AWT are:
- Two stud farms in Pakpattan and Okara
- Army Welfare Sugar Mills, Badin
- Askari Project (shoe and woollen), Lahore
- Army Welfare Mess and Blue Lagoon Restaurant, Rawalpindi
- Real estate comprising three small housing schemes in Lahore, Badaber and Sangjani
- Askari General Insurance Co Ltd Rawalpindi
- Askari Aviation Services, Rawalpindi
- MAL Pakistan Ltd Karachi
- Askari Guards (Pvt) Ltd, head office (HO) in Rawalpindi
- Askari Fuels (CNG) with HO in Rawalpindi
- Askari Seeds, Okara
- Askari Enterprises, Rawalpindi
- Fauji Security Services (acquired from Fauji Foundation), HO in Rawalpindi
- Askari Apparel, Lahore
- Askari Lagoon, Faisalabad.
- Fauji Cereals
- Foundation Gas
- Fauji Fertiliser Company Ltd
- Fauji Cement Co Ltd
- Fauji Oil Terminal and Distillery Co Ltd
- Fauji Kabirwala Power Company Ltd
- Foundation Power Co (Dharki) Ltd
- Askari Cement Ltd
- Askari Bank Ltd
- Foundation Wind Energy (I and II) Ltd
- Noon Pakistan Ltd Lahore
- Fauji Meat Ltd
- Fauji Fertiliser Bin Qasim Ltd
- Fauji Akbar Partia Marine Terminal Ltd, HO in Karachi.
Similarly, the projects, units and housing colonies under the administrative control of Shaheen Foundation, which is a trust of the Pakistan Air Force, are:
- Shaheen Airport Services
- Shaheen Aerotraders
- Shaheen Knitwear
- Shaheen Complex, Karachi
- Shaheen Complex, Lahore
- Shaheen Medical Services
- Hawk Advertising
- Fazaia Welfare Education School System
- SAPS Aviation College
- Air Eagle Aviation Academy
- Shaheen Welfare Housing Scheme, Peshawar.
Turkish people supported
Later, the house unanimously passed a resolution expressing solidarity with the democratic government and people of Turkey. The resolution was tabled by Azam Swati of the Pakistan Tehreek-i-Insaf.
“The Senate admires, congratulates and pays its tribute to the brave people of Turkey who displayed an uncommon courage by upholding democratic norms and defeated military coup and saved their country from anarchy and civil war,” says the resolution.
“It was so moving to see common Turks took to the streets and world witnessed that human flesh stopped steel tanks on just a single call of its leader, President Recep Tayyip Erdogan,” says the resolution, which “admired all opposition political parties for their historic and unprecedented resolve to protect democracy.”
During the question hour, Law Minister Zahid Hamid informed the house that India had made 460km-long fence along the Line of Control (LoC).
He said the issue of LoC violations by India had been raised at the UN Security Council through a letter that had also been circulated among all its members.
Published in Dawn, July 21st, 2016
Mikesingh
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It's RAW as usual!! Sinkholes are being made by them so Pak can sink further into the depths of despair!! :biggrin2:
Butter Chicken
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Rupee falls 5.7pc against dollar in inter bank trade
The Pakistani rupee lost 5.7 per cent of its value against the US dollar in inter bank trading on Monday, with the greenback being traded at Rs128.50 in the market towards day's close.
Meanwhile, the selling rate in the open market climbed up to Rs130 while the greenback remained short in supply.
On Saturday, State Bank of Pakistan (SBP) Governor Tariq Bajwa had denied any move for devaluation. On the same day, caretaker Finance Minister Shamshad Akhtar had stated that the preparations to approach the International Monetary Fund (IMF) were underway.
He added that the law and order situation in the country needs to improve and warned "Pakistan is sinking into quicksand."
"Borrowing is the only way out and IMF and China are the only two options," he stated.
The Pakistani rupee lost 5.7 per cent of its value against the US dollar in inter bank trading on Monday, with the greenback being traded at Rs128.50 in the market towards day's close.
Meanwhile, the selling rate in the open market climbed up to Rs130 while the greenback remained short in supply.
On Saturday, State Bank of Pakistan (SBP) Governor Tariq Bajwa had denied any move for devaluation. On the same day, caretaker Finance Minister Shamshad Akhtar had stated that the preparations to approach the International Monetary Fund (IMF) were underway.
He added that the law and order situation in the country needs to improve and warned "Pakistan is sinking into quicksand."
"Borrowing is the only way out and IMF and China are the only two options," he stated.
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IMF refuse to land dollar to Terroristan. Ignorant Pakis just made joke of themselves, they went to IMF with begging bowl asked for $21bn, but IMF said you can only have $5bn quota cant exceed that, top that they can't borrow full quota, they only can get $3-4bn. IMF asked pakis to show how previous loans were spent and how future loans will be spend in writing. Terroristan asked to give in writing how much taxes, prices in petrol and other commodities prices will be raised so they can payback IMF. In other way, it is end of much hyped CPEC and hyperinflation is on the way for brain dead pakis.
I see economically Terroristan will be next Zimbabwe and politically next Somalia. We need to increase BSF strength on western border otherwise it can be similar to India-Bangladesh border. I don't wont these inbred brain dead Jehadis any where near our borders.
Interesting times ahead.
I see economically Terroristan will be next Zimbabwe and politically next Somalia. We need to increase BSF strength on western border otherwise it can be similar to India-Bangladesh border. I don't wont these inbred brain dead Jehadis any where near our borders.
Interesting times ahead.
Butter Chicken
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Foreign exchange: SBP's reserves fall to alarming level after 4.4% decline
KARACHI: In a worrying development for Pakistan, foreign exchange reserves held by the central bank plunged a massive 4.39% on a weekly basis, according to data released on Thursday.
The alarming level, which has now hit a four-year low, raises concerns over the country’s ability to finance a hefty import bill and meet debt obligations in coming months. Already it has forced the State Bank of Pakistan’s (SBP) hand at letting the rupee go on four separate occasions since December 2017.
Patriotic Pak fauji crying on Pakistan's economic crisis
KARACHI: In a worrying development for Pakistan, foreign exchange reserves held by the central bank plunged a massive 4.39% on a weekly basis, according to data released on Thursday.
The alarming level, which has now hit a four-year low, raises concerns over the country’s ability to finance a hefty import bill and meet debt obligations in coming months. Already it has forced the State Bank of Pakistan’s (SBP) hand at letting the rupee go on four separate occasions since December 2017.
Patriotic Pak fauji crying on Pakistan's economic crisis
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More bad/ good news coming in from the Land of Green.
Current account deficit rises to $18bn, reserves hit four-year low
KARACHI: Current account deficit (CAD) touched $18 billion in FY18, up 42.5 per cent over the previous fiscal year, the State Bank of Pakistan (SBP) reported on Thursday.
Only two years ago, the CAD was at $4.876bn, spiking to $12.621bn the following year, before hitting its record high in 2017-18.
Meanwhile, the SBP said foreign exchange reserves fell by $416 million during the week ended on July 13. The reserves held by the SBP now stand at $9.063bn while those held by commercial banks are $6.613bn. Total foreign exchange reserves come to $15.682bn
The State Bank data released on Thursday showed total import of goods and services in FY18 reached $66.2bn compared to $58.6bn in the previous fiscal year, an increase of 13pc. On the other hand, exports of goods and services increased to $29.9bn compared to $27.6bn last year, an increase of 8.3pc. Exports of goods increased by $2.7bn but the exports of services dropped to $5bn compared to 5.55bn.
https://www.dawn.com/news/1421258/current-account-deficit-rises-to-18bn-reserves-hit-four-year-low
Current account deficit rises to $18bn, reserves hit four-year low
KARACHI: Current account deficit (CAD) touched $18 billion in FY18, up 42.5 per cent over the previous fiscal year, the State Bank of Pakistan (SBP) reported on Thursday.
Only two years ago, the CAD was at $4.876bn, spiking to $12.621bn the following year, before hitting its record high in 2017-18.
Meanwhile, the SBP said foreign exchange reserves fell by $416 million during the week ended on July 13. The reserves held by the SBP now stand at $9.063bn while those held by commercial banks are $6.613bn. Total foreign exchange reserves come to $15.682bn
The State Bank data released on Thursday showed total import of goods and services in FY18 reached $66.2bn compared to $58.6bn in the previous fiscal year, an increase of 13pc. On the other hand, exports of goods and services increased to $29.9bn compared to $27.6bn last year, an increase of 8.3pc. Exports of goods increased by $2.7bn but the exports of services dropped to $5bn compared to 5.55bn.
https://www.dawn.com/news/1421258/current-account-deficit-rises-to-18bn-reserves-hit-four-year-low
HariPrasad-1
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Pakistan has invested too heavily in terror. They do not have any money to invest in public welfare.
Lord Darklord
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China’s Global Building Spree Runs Into Trouble in Pakistan
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Many CPEC projects in doldrums as NHA faces financial crisis
https://www.wsj.com/articles/chinas-global-building-spree-runs-into-trouble-in-pakistan-1532280460
Many CPEC projects in doldrums as NHA faces financial crisis
https://www.dawn.com/news/1421877
HariPrasad-1
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They are meeting the fate they deserve. Just wait and watch and enjoy. Porki media was saying that PKR will hit 170 against 1 USD. GDP of Pakistan shall reduce to 70% just by way of currency devaluation.
Mikesingh
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The Porki Army that controls the lives of the Pakis cares a damn as long as they remain the puppet masters till the end of days.
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