Pakistan Economy: News & Discussion

[nongaddarliberal]

Earlier I had similar opinion, but that has changed due to the nelob video.


It addressed all my concerns and I couldn't come up with effective counter arguments.

Let them eat each other. Grab some popcorn. The paki generals are deep down too arrogant to actually be a legitimate ally of an atheist/Buddhist nation. The Chinese on the other hand won't take the same bullshit from the pakis that the Americans did.

The pakis have no intent on paying back these loans. The chinese won't get much return on investment even by grabbing land assets as they are worthless in a broke country like pakistan. This is going to turn into a complete clusterfuck within the next 15 years.

And let's not forget that the entire concept of OBOR is flawed as sea transport is still far cheaper than land transport over long distances. And OBOR has to pass through multiple countries that may or may not cooperate depending on the circumstances, thereby increasing the risk.

 

[The Juggernaut]

Earlier I had similar opinion, but that has changed due to the nelob video.


It addressed all my concerns and I couldn't come up with effective counter arguments.

Yeah, it's China got trapped but patience of China is not as big as America. But Pakistan cannot afford to keep that game for a long time. Its population is exploding and time is closing but it is stubborn on living on loans and not solving its problems. Soon China will try to find some gairatmand people to have relationships, and begairat Pakistan will be left there where it always had been.

 

[ezsasa]

China to take over Zambia’s international Airport for debt repayment Fruits of #CPEC, if we failed to pay back our Loans. #CPEC from Game Changer to debt maker: :/

 

[The Juggernaut]

This is report about Zambia, what's happening to them, will face similar for Pakistan. Granted that China will take over some Pakistani assets and will not be able to get anything in return. But Pakistani will also not be able to make use of those assets. The whole situation is bound to become a blame game.

 

[Kshatriya87]

Sindh govt spends 100 times more on its staff than Sindh’s people

The Sindh government will spend 70% of its budget on running the government—as in itself.

That money will go to paying salaries and running its offices, the budget for 2018-2019 shows.
The budget is how much money the government will earn and where and how it will spend that money in a year.

This year, the government plans to spend Rs1.14 trillion. This includes spending Rs800 billion on “current expenditures” (read: salaries and running its offices). And by the way, in May, the Sindh government increased salaries by 10%.

This leaves less money for development, which is being cut. Sindh will spend Rs244 billion on development programs, which is 30% of its budget.

That is schools, clinics, roads.

“I want to mention that our provincial development portfolio now faces an allocation cut of Rs24.00 billion,” Chief Minister Syed Murad Ali Shah said when he presented the budget in the Sindh Assembly Monday morning (Sept 17).

He called it an “unpleasant decision” to cut development and blamed the federal government (Islamabad), saying it didn’t give them the money they had estimated.

(The federal transfers are the money each province receives from the federal government under the National Finance Commission Award. For Sindh, it becomes 73% of the province’s kitty.)

A cut in development means the government will spend less on education, health and infrastructure this year as it also faces a loss of Rs20.4 billion.

The CM didn’t announce any new taxes but said the federal government should allow provinces to collect sales tax on goods, which will increase its earning. Right now, the provinces can collect sales tax on services only but the sales tax on goods goes to the federal government.

“I would urge the federal government that the sales tax on goods may also be devolved to the provinces,” Shah said. “I can assure with confidence that we can handle it very effectively as well.”

The CM’s optimism comes from the performance of the Sindh Revenue Board, which he frequently boasts about.

“The [board] is now the largest authority to collect sales tax on services in Pakistan and it has registered a 25% average growth in the collection of sales tax in successive years since its inception [after the 2009 NFC Award],” he said.

A deeper look at the tax collection figures shows, however, that Murad Ali Shah’s government heavily relies on indirect taxes such as the one you pay for a meal at a restaurant. These taxes are “regressive” in the sense that they are levied on services and not on income.

The 2018-2019 estimates say that tax on income (direct tax) is less than 10% of what Sindh earns in taxes.

Take for example, tax on agriculture income. For this financial year, the Sindh government expects to earn Rs2 billion in agriculture income tax, which is not even 1% of its revenue.

 

[Advaidhya Tiwari]

Saudi Arabia to be third member in CPEC, to invest $10 Billion in Pakistan

Pakistan has requested Saudi Arabia to become third partner in CPEC to provide investment to help shore up Pakistani foreign exchange reserves. Saudi Arabia has accepted the proposal


There are also rumours that Saudi Arabia insisted that Nawaz Sharif and his family be released before any deal is made. Nawaz Sharif is known to be close to Saudi Arabia and top Saudi Arabian royal family member had once called him as "Saudi man in Pakistan". The sudden release of Nawaz Sharif just before Imran Khan's visit to Saudi Arabia is rumoured to be part of the $10 billion deal

 

[Advaidhya Tiwari]

Saudi Arabia to join CPEC as 3rd strategic partner

ISLAMABAD: Information Minister Fawad Chaudhry has said that Saudi Arabia will be joining China Pakistan Economic Corridor as third ‘Strategic Partner’.

Addressing a press conference following Prime Minister Imran Khan return from Saudi Arabia, Fawad Chaudry said, “Saudi Arabia will invest in CPEC and will be third Strategic Partner in it.”

He said Pakistan has invited Saudi Arabia to join CPEC as the 3rd strategic partner. “Saudi Arabia is the third country which has been invited to join CPEC.”

He said Saudi participation in this mega project will ensure huge investment in Pakistan through this platform.

Saudi Finance and Energy Ministers will visit Pakistan in the first week of October, Chaudhry said.

“Pakistan and Saudia will stand together at all times,” the minister said and added that PM Imran Khan has assured Riyadh that Pakistan will stand with Saudi Arabia.

The Minister added PM Imran Khan's visit to the United Arab Emirates has ended coldness in the relationship between the two countries.

He said a delegation from the UAE will also visit Pakistan next month to find ways to expand economic relations between the two countries.

Fawad Chaudhry, responding to a question about release of former prime minister Nawaz Sharif, Maryam Nawaz and Captain (retd) Safdar from jail after suspension of their sentences in Avenfield reference, said the government respects the judiciary and its verdicts, and it will also implement all court judgments.

He asserted the people who have looted the national exchequer and stashed money abroad will be held accountable.

 

[Kshatriya87]

No HARAM in investing with a country that suppresses muslims?

 

[sorcerer]

No HARAM in investing with a country that suppresses muslims?

Saudi Arabia themselves suppress muslims from other nations.

 

[The Juggernaut]

Saudi Arabia themselves suppress muslims from other nations.

Cold shoulder with UAE and cold feet with Iran incoming.

 

[Kshatriya87]

Saudi Arabia themselves suppress muslims from other nations.

True that. Maybe we should file a complaint to Erdogan. He seems too eager to be the thekedaar of islam these days.

 

[Flame Thrower]

Why everyone is jumping!?

Just because KSA joined the fray with $10B!?

We all know that this is not going into Pak kitty directly, but going into the some of the stalled projects. This is Pak showing China to act quickly or you'll loose control over your own investment.

When Pak economy is in dire condition and it's PM is begging for money( to build dam), instead of diverting those funds to build dam or revive economy, PA has diverting funds to stalled CPEC projects; Just so that China gets the message loud and clear.

KSA can throw breadcrumbs to Pak for a very long time.

Time has come for India to step up it's game. Persuade WB to change the IWT from 20:80 to 50:50. This has to be done quickly (within six months). Once it's done, even if Cong comes back to power, it can't be undone. We can build dams after a decade but we need the changes in IWT and quickly.

 

[sorcerer]

US court sentences Pak-origin businessman for unlawful export to Pak military

Read more at:
//economictimes.indiatimes.com/articleshow/65909932.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

 

[lcafanboy]

Imran Khan's bid to crowdfund $14 billion for Pakistan dams - Times of India

https://m.timesofindia.com/world/pa...on-for-pakistan-dams/articleshow/65992602.cms

Crowd Funding. Oh it's a modern word for BEGGING. :biggrin2::biggrin2::biggrin2:

And Pakistan and Pakistanis are known BEGGARS of world..:biggrin2::biggrin2::biggrin2:

Come what may any government Nawaz or Imran BEGGING is way of life for Pakistanis ever since its creation with BEGGING RS 50 crores from India. :biggrin2::biggrin2::biggrin2:

 

[Kshatriya87]

Imran Khan's bid to crowdfund $14 billion for Pakistan dams - Times of India

https://m.timesofindia.com/world/pa...on-for-pakistan-dams/articleshow/65992602.cms

Crowd Funding. Oh it's a modern word for BEGGING. :biggrin2::biggrin2::biggrin2:

And Pakistan and Pakistanis are known BEGGARS of world..:biggrin2::biggrin2::biggrin2:

Come what may any government Nawaz or Imran BEGGING is way of life for Pakistanis ever since its creation with BEGGING RS 50 crores from India. :biggrin2::biggrin2::biggrin2:

A couple of weeks back he asked all pakis living abroad to contribute $1000 each for dams. Why the hell would they do that? Those shitty pakis left this pakland for a reason.

 

[Advaidhya Tiwari]

A couple of weeks back he asked all pakis living abroad to contribute $1000 each for dams. Why the hell would they do that? Those shitty pakis left this pakland for a reason.

You can take a man out of Pakistan but not Pakistan out of a man. These pakistanis who left Pakistan to UK are raping and grooming white girls. They are no better

 

[Advaidhya Tiwari]

A couple of weeks back he asked all pakis living abroad to contribute $1000 each for dams. Why the hell would they do that? Those shitty pakis left this pakland for a reason.

You can take a man out of Pakistan but not Pakistan out of a man. These pakistanis who left Pakistan to UK are raping and grooming white girls. They are no better

 

[sorcerer]

A couple of weeks back he asked all pakis living abroad to contribute $1000 each for dams. Why the hell would they do that? Those shitty pakis left this pakland for a reason.

as if all the pakis abroad are soo rich that they are earning mucho in Dollars. The low life pakis abroad are just a bit above worse financially.

Imran Khan should have stopped funding the terrorists and diverted the money pakis spent in Kashmir for the dam instead.

 

[Advaidhya Tiwari]

as if all the pakis abroad are soo rich that they are earning mucho in Dollars. The low life pakis abroad are just a bit above worse financially.

Imran Khan should have stopped funding the terrorists and diverted the money pakis spent in Kashmir for the dam instead.

Why does Pakistan need forex to build dam? Govt can simply print money and build dams. Who is stopping govt from printing money?

 

[sorcerer]

^^^^^^^^
ask the pakis that!!!!!!!!!!!!!!!!!!!!!!!!!!!!
There could be something bad with printing more money than usual..pakis would be knowing the math on it when they were dumping too much FICN into India.