Govt Should Take Notice Of India’s Industrial Terrorism: Pbif President

[Butter Chicken]

Pakistan Businessmen and Intellectuals Forum (PBIF) President, AKIA President, FPCCI Businessmen Panel Senior Vice Chairman and former provincial minister Mian Zahid Hussain on Monday asked the government to take note of India’s industrial terrorism as it was bent upon destroying Pakistan’s textile sector, the backbone of economy.

In a statement issued here on Monday, he said that India was working on a multi-pronged strategy to damage Pakistan beyond repairs. It has initiated water terrorism followed by successfully pushing issue of Kalabagh Dam into controversies, he added.

He said that India was targeting China Pakistan Economic Corridor (CPEC) and now it has started industrial terrorism to damage Pakistan’s textile sector and bankrupt our country.

The PBIF president said that Indian prime minister was overseeing external sector personally, it has started giving hidden subsidies to the textile sector while banks have been directed to issue loans on zero per cent interest which has reduced cost of doing business of the competitors.

Mian Zahid Hussain said that on the other hand Pakistan’s textile industry was going down by the passage of every day due to increased cost of doing business.

The situation of investment and remittances was not satisfactory, exports was the only option left to bridge budget deficit otherwise the country will have to rely on foreign loans which have already reached to worrying proportions, he added.

He demanded the immediate refund to all export industries, steps to reduce cost of doing business and extra attention to the value-added sector.

Industrialists should be provided relief by simplifying taxation system and reducing the number of government departments dealing with them to save their time, he added.

http://www.pakistantoday.com.pk/201...f-indias-industrial-terrorism-pbif-president/

 

[OneGrimPilgrim]

awesome!
so indeed India has taken the (economic) road to strangulating the kabila....very happy! this step (stifling their foremost business of textiles) was recommended by many a people knowledgeable in these affairs.

 

[indiatester]

The better option for the PBIF people will be to "Make in India"!

 

[Screambowl]

Really a very good area to take care of. This is what is required.. Should have been concerned about it from the day one. But, it's never late.

 

[Dark Sorrow]

WTF is industrial terrorism or water terrorism? Pakistanis are really obsessed with the word terrorism.

 

[Butter Chicken]

They also banned Nicklodeon because of Cartoon Terrorism as it was showing Hindi-dubbed programs

 

[manuparshwal]

The pakis can't survive and thrive without terrorism.... also they being the epicenter of terrorism comes up with these sort of innovative nomenclature for the new branches of terrorist factory viz. INDUSTRIAL and WATER terrorism. Hope in near future we are going to listen from them words like AIR, FOOD, ENVIRONMENT, and PU terrorism as well.:biggrin2::biggrin2:

 

[Mikesingh]

To the Porkis....

You Porks are gonna implode sooner than later!

Cheers! Here's to mud in your eyes!

 

[sorcerer]

So..the medicine is working on pakis..
Good to know.

 

[ezsasa]

awesome!
so indeed India has taken the (economic) road to strangulating the kabila....very happy! this step (stifling their foremost business of textiles) was recommended by many a people knowledgeable in these affairs.

Paki Textile industry has been crying for many years now, their textile factories do not get continuous power supply for more than two hours at a stretch and many other financing issues .This was happening even before modi can into national politics.

Current situation has nothing to do with India.

 

[sorcerer]

Paki Textile industry has been crying for many years now, their textile factories do not get continuous power supply for more than two hours at a stretch and many other financing issues .This was happening even before modi can into national politics.

Current situation has nothing to do with India.

Errr!!!
The PBIF president said that Indian prime minister was overseeing external sector personally, it has started giving hidden subsidies to the textile sector while banks have been directed to issue loans on zero per cent interest which has reduced cost of doing business of the competitors.

Mian Zahid Hussain said that on the other hand Pakistan’s textile industry was going down by the passage of every day due to increased cost of doing business.


May be this is what pbif perceived as a threat,,

 

[Mikesingh]

Paki Textile industry has been crying for many years now, their textile factories do not get continuous power supply for more than two hours at a stretch and many other financing issues .This was happening even before modi can into national politics.

Current situation has nothing to do with India.

But they have this Porki habit for blaming India for everything, even if Nawaz farts.

 

[LordOfTheUnderworlds]

Paki Textile industry has been crying for many years now, their textile factories do not get continuous power supply for more than two hours at a stretch and many other financing issues .This was happening even before modi can into national politics.

Current situation has nothing to do with India.

Also over valued Pakistani Rupee.

IMF Says Pakistan's Currency Overvalued by as Much as 20%
http://www.bloomberg.com/news/artic...n-rupee-needs-5-20-drop-to-align-with-reality


http://www.economicshelp.org/blog/2882/currency/problems-of-overvalued-exchange-rate/

An overvalued exchange rate implies that a countries currency is too high for the state of the economy. An overvalued exchange rate means that the countries exports will be relatively expensive and imports cheaper. An overvalue exchange rate tends to depress domestic demand and encourage spending on imports.

An overvalued exchange rate can also be measured by looking at purchasing power parity PPP. An overvalued exchange rate will mean goods are relatively more expensive in that country. (a more sophisticated form of PPP also takes into account difference in real GDP per capita – Beefed up Big Mac Index at Economist)

An overvalued exchange rate is particularly a problem during a period of sluggish growth. If the economy is booming, an overvalued exchange rate can help reduce inflationary pressure, but in a recession an overvalued exchange rate can cause deflationary pressures.

What I can understand from above is that overvaluation of Pakistani Rupee makes its exports costly and less competitive. But if they devalue their currency, there will be more inflation. If there is more inflation will the poor awaam have enough purchasing power to buy food for their children? Already in Karachi there is a rule to restrict number of dishes that can be served in wedding. May be they can ask wedding guests to bring their own lunchbox.

 

[Srinivas_K]

Bangladesh is a competitor for Pakistan in textile industry!

 

[Berkut]

Also over valued Pakistani Rupee.

IMF Says Pakistan's Currency Overvalued by as Much as 20%
http://www.bloomberg.com/news/artic...n-rupee-needs-5-20-drop-to-align-with-reality


http://www.economicshelp.org/blog/2882/currency/problems-of-overvalued-exchange-rate/



What I can understand from above is that overvaluation of Pakistani Rupee makes its exports costly and less competitive. But if they devalue their currency, there will be more inflation. If there is more inflation will the poor awaam have enough purchasing power to buy food for their children? Already in Karachi there is a rule to restrict number of dishes that can be served in wedding. May be they can ask wedding guests to bring their own lunchbox.

De-valuing currency is serious hit on H&D Saar.
We will eat grass but make bum.