Pakistan Economy: News & Discussion

Abdus Salem killed

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@Crazywithmath @gslv markIII

I wanted to share this pic that many porkies on pdf as well as twitter use they don't realise how ironic it is

Even in Thier own pic the generals are making deals with the Chinese while the common Abdul clss Is working
And to mock India they show that Indians have no jobs and look at porkies with envy

This means evn in Thier own pic generals run the country while a aam Abdul is a slve of both Chinese and pakjabi generals your comments will be appreciated
Y186316.jpg
 

Chandragupt Maurya

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@Crazywithmath @gslv markIII

I wanted to share this pic that many porkies on pdf as well as twitter use they don't realise how ironic it is

Even in Thier own pic the generals are making deals with the Chinese while the common Abdul clss Is working
And to mock India they show that Indians have no jobs and look at porkies with envy

This means evn in Thier own pic generals run the country while a aam Abdul is a slve of both Chinese and pakjabi generals your comments will be appreciated
YView attachment 110622
Pakistan army makes cornflakes , cement , sugar , processed meat , they make buildings and have a lot of other businesses
 

Motomaverick

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Man this thread is pointless. Even if the bhikharis go completely bankrupt, the Americans will bail them out. They need a nuisance to keep troubling India so that we don't rise to become a superpower. Why do you think Paks are not on the black list yet?
 

FalconSlayers

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Man this thread is pointless. Even if the bhikharis go completely bankrupt, the Americans will bail them out. They need a nuisance to keep troubling India so that we don't rise to become a superpower. Why do you think Paks are not on the black list yet?
They are not blacklisted and are bailed out because they have nukes, any blacklisting will cause a civil war there in that hyperreligious extremist shithole.
 

HitmanBlood

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Man this thread is pointless. Even if the bhikharis go completely bankrupt, the Americans will bail them out. They need a nuisance to keep troubling India so that we don't rise to become a superpower. Why do you think Paks are not on the black list yet?
Most American law makers don't have any knowledge of geopolitics. Those who do are mostly on the fringes of political power. Even their presidents aren't well versed in complex international affairs. Their foreign affairs are solely maintained by their deep state. Politicians, media and even president are given talking points by deep state that they reiterate in front of camera.

This deep state is trying hard to keep Pakistan afloat for reason, only known to them. Also keeping pak afloat is not that expensive for USA.

However after Afghanistan debacle things may change. Keep an eye out for Iran-US relationship in future.
 

avknight1408

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Express Tribune - Govt moves to ‘cool down’ an ‘over heating’ economy
Finance Minister Tarin announces restrictive measures to slow down growth
Finance Minister Shaukat Tarin announced on Wednesday to take restrictive measures to “cool down” an “over heating” economy, marking the beginning of reversal of expansionary fiscal policies after external sector vulnerabilities exposed sooner than expected.

“It has been decided to introduce a 100% cash margin requirement for imports and impose regulatory duties to curb imports of non-essential items,” Tarin told a press conference – his second in less than 10 days to respond to increasing criticism over higher inflation.

“If [the new] measures are not taken, the economy could grow at more than 5% rate and this is the time to control the growth rate, the finance minister told the reporters, while explaining the reasons behind taking these measures.

“My concern is that the economy may overheat and there could be exchange rate related problems if the GDP growth rate exceeds above 5% annually,” he added, while responding to a question from The Express Tribune.

Before the budget, Tarin had been cautioned about the adverse impact of expansionary fiscal policies but the minister at that time had opined that the economy can sustain over 6% growth rate, finance ministry sources said.

Introduction of cash margins –where the importers are required to deposit cash in dollars in advance—and regulatory duties are considered import restrictive measures that are usually discouraged by the International Monetary Fund (IMF).

The government decided to take these steps after the two-month import bill exceeded $12 billion and the central bank called for urgent measures. The State Bank of Pakistan (SBP) has already increased the discount rate by 0.25% while also signalling a further increase at an appropriate time.

The SBP policy statement also pointed out things that the federal government has to do to minimise threats to external sector stability.

The message in the central bank’s monetary policy statement was that so far the reliance was only on exchange rate too and there was also a need to use monetary policy and fiscal policy tools “to cool down” the economy, said the finance minister.

“The fiscal side acceleration needs to be reduced to lower the heat and we are now closely monitoring the fiscal policy,” Tarin added. He said that fiscal operations were in line with the projections during the current fiscal year but the finance ministry was monitoring the situation.

Doubtful petrol prices comparison

Tarin and Special Assistant to Prime Minister on National Food Security Jamshed Cheema claimed during the press conference that petrol prices were the cheapest in Pakistan compared to the region. Compared with Rs123 per litre price in Pakistan, “the petrol price in India is 250 rupees per litre and 198 in Bangladesh”, Tarin said.

“The per-litre petrol price in Mumbai is Rs105.92,” an Indian journalist, who is a member of the South Asian Society for Economic Reporters (SASER), said. The SASER is an association for business and economic reporters of South Asia.

“It’s 90 taka per litre in Bangladesh,” said another SASER member journalist from Bangladesh. One litre petrol price is 157 rupees in Sri Lanka , according to a SASER member from Sri Lanka. The Nepalese SASER member said that the petrol was being sold at 129 in local rupee.

In order to avoid growing criticism, the government gave controversial figures by translating regional countries’ petrol prices by applying rupee-dollar parity. The Pakistani rupee closed at Rs168.68 to a dollar on Wednesday, compared with around Rs74 to a dollar Indian price. Even Afghani rupee is far stronger than Pakistani rupee.

The finance minister said that it has also been decided to slash taxes on edible oil to reduce their prices by Rs45 to Rs50 per kg. “The government will offer direct food subsidies to 40 to 42% people on the edible items,” he said.

Sugar will be available at Rs89.75 per kg across the country and wheat flour at Rs55 per kg for everyone and Rs43 for the poor people, said Cheema.

While commenting on the IMF talks, Tarin said that the power sector will be an issue and “we will try to find a solution to that”. He added: “There is no prior action on the power sector and everything will be discussed during these talks.” He again said that increasing tariffs was not a solution to the power sector’s problems.

The minister said that the government has shown progress in the revenue collection during the current fiscal year and it would expand the tax base by using technology. “Pakistan and the IMF are expected to begin programme review talks from October 4.”

Responding to a question about his six months ministerial term that is going to end on October 15th, the finance minister said, “I am not going anywhere and I have trust in the prime minister’s promise of getting me elected as senator.”

However, Imran Khan has not yet announced a schedule for his election, as it will require at least 23 days from the point of getting a seat vacated by a sitting senator and electing a new senator in his place.
 

FalconSlayers

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:crazy:

Express Tribune - Govt moves to ‘cool down’ an ‘over heating’ economy
Finance Minister Tarin announces restrictive measures to slow down growth
Finance Minister Shaukat Tarin announced on Wednesday to take restrictive measures to “cool down” an “over heating” economy, marking the beginning of reversal of expansionary fiscal policies after external sector vulnerabilities exposed sooner than expected.

“It has been decided to introduce a 100% cash margin requirement for imports and impose regulatory duties to curb imports of non-essential items,” Tarin told a press conference – his second in less than 10 days to respond to increasing criticism over higher inflation.

“If [the new] measures are not taken, the economy could grow at more than 5% rate and this is the time to control the growth rate, the finance minister told the reporters, while explaining the reasons behind taking these measures.

“My concern is that the economy may overheat and there could be exchange rate related problems if the GDP growth rate exceeds above 5% annually,” he added, while responding to a question from The Express Tribune.

Before the budget, Tarin had been cautioned about the adverse impact of expansionary fiscal policies but the minister at that time had opined that the economy can sustain over 6% growth rate, finance ministry sources said.

Introduction of cash margins –where the importers are required to deposit cash in dollars in advance—and regulatory duties are considered import restrictive measures that are usually discouraged by the International Monetary Fund (IMF).

The government decided to take these steps after the two-month import bill exceeded $12 billion and the central bank called for urgent measures. The State Bank of Pakistan (SBP) has already increased the discount rate by 0.25% while also signalling a further increase at an appropriate time.

The SBP policy statement also pointed out things that the federal government has to do to minimise threats to external sector stability.

The message in the central bank’s monetary policy statement was that so far the reliance was only on exchange rate too and there was also a need to use monetary policy and fiscal policy tools “to cool down” the economy, said the finance minister.

“The fiscal side acceleration needs to be reduced to lower the heat and we are now closely monitoring the fiscal policy,” Tarin added. He said that fiscal operations were in line with the projections during the current fiscal year but the finance ministry was monitoring the situation.

Doubtful petrol prices comparison

Tarin and Special Assistant to Prime Minister on National Food Security Jamshed Cheema claimed during the press conference that petrol prices were the cheapest in Pakistan compared to the region. Compared with Rs123 per litre price in Pakistan, “the petrol price in India is 250 rupees per litre and 198 in Bangladesh”, Tarin said.

“The per-litre petrol price in Mumbai is Rs105.92,” an Indian journalist, who is a member of the South Asian Society for Economic Reporters (SASER), said. The SASER is an association for business and economic reporters of South Asia.

“It’s 90 taka per litre in Bangladesh,” said another SASER member journalist from Bangladesh. One litre petrol price is 157 rupees in Sri Lanka , according to a SASER member from Sri Lanka. The Nepalese SASER member said that the petrol was being sold at 129 in local rupee.

In order to avoid growing criticism, the government gave controversial figures by translating regional countries’ petrol prices by applying rupee-dollar parity. The Pakistani rupee closed at Rs168.68 to a dollar on Wednesday, compared with around Rs74 to a dollar Indian price. Even Afghani rupee is far stronger than Pakistani rupee.

The finance minister said that it has also been decided to slash taxes on edible oil to reduce their prices by Rs45 to Rs50 per kg. “The government will offer direct food subsidies to 40 to 42% people on the edible items,” he said.

Sugar will be available at Rs89.75 per kg across the country and wheat flour at Rs55 per kg for everyone and Rs43 for the poor people, said Cheema.

While commenting on the IMF talks, Tarin said that the power sector will be an issue and “we will try to find a solution to that”. He added: “There is no prior action on the power sector and everything will be discussed during these talks.” He again said that increasing tariffs was not a solution to the power sector’s problems.

The minister said that the government has shown progress in the revenue collection during the current fiscal year and it would expand the tax base by using technology. “Pakistan and the IMF are expected to begin programme review talks from October 4.”

Responding to a question about his six months ministerial term that is going to end on October 15th, the finance minister said, “I am not going anywhere and I have trust in the prime minister’s promise of getting me elected as senator.”

However, Imran Khan has not yet announced a schedule for his election, as it will require at least 23 days from the point of getting a seat vacated by a sitting senator and electing a new senator in his place.
It may sound funny but he’s not wrong, their currency is over valued.
 

ezsasa

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It's the right thing to do, should have done it last year itself. $ outflow is unsustainable for them.

:crazy:

Express Tribune - Govt moves to ‘cool down’ an ‘over heating’ economy
Finance Minister Tarin announces restrictive measures to slow down growth
Finance Minister Shaukat Tarin announced on Wednesday to take restrictive measures to “cool down” an “over heating” economy, marking the beginning of reversal of expansionary fiscal policies after external sector vulnerabilities exposed sooner than expected.

“It has been decided to introduce a 100% cash margin requirement for imports and impose regulatory duties to curb imports of non-essential items,” Tarin told a press conference – his second in less than 10 days to respond to increasing criticism over higher inflation.

“If [the new] measures are not taken, the economy could grow at more than 5% rate and this is the time to control the growth rate, the finance minister told the reporters, while explaining the reasons behind taking these measures.

“My concern is that the economy may overheat and there could be exchange rate related problems if the GDP growth rate exceeds above 5% annually,” he added, while responding to a question from The Express Tribune.

Before the budget, Tarin had been cautioned about the adverse impact of expansionary fiscal policies but the minister at that time had opined that the economy can sustain over 6% growth rate, finance ministry sources said.

Introduction of cash margins –where the importers are required to deposit cash in dollars in advance—and regulatory duties are considered import restrictive measures that are usually discouraged by the International Monetary Fund (IMF).

The government decided to take these steps after the two-month import bill exceeded $12 billion and the central bank called for urgent measures. The State Bank of Pakistan (SBP) has already increased the discount rate by 0.25% while also signalling a further increase at an appropriate time.

The SBP policy statement also pointed out things that the federal government has to do to minimise threats to external sector stability.

The message in the central bank’s monetary policy statement was that so far the reliance was only on exchange rate too and there was also a need to use monetary policy and fiscal policy tools “to cool down” the economy, said the finance minister.

“The fiscal side acceleration needs to be reduced to lower the heat and we are now closely monitoring the fiscal policy,” Tarin added. He said that fiscal operations were in line with the projections during the current fiscal year but the finance ministry was monitoring the situation.

Doubtful petrol prices comparison

Tarin and Special Assistant to Prime Minister on National Food Security Jamshed Cheema claimed during the press conference that petrol prices were the cheapest in Pakistan compared to the region. Compared with Rs123 per litre price in Pakistan, “the petrol price in India is 250 rupees per litre and 198 in Bangladesh”, Tarin said.

“The per-litre petrol price in Mumbai is Rs105.92,” an Indian journalist, who is a member of the South Asian Society for Economic Reporters (SASER), said. The SASER is an association for business and economic reporters of South Asia.

“It’s 90 taka per litre in Bangladesh,” said another SASER member journalist from Bangladesh. One litre petrol price is 157 rupees in Sri Lanka , according to a SASER member from Sri Lanka. The Nepalese SASER member said that the petrol was being sold at 129 in local rupee.

In order to avoid growing criticism, the government gave controversial figures by translating regional countries’ petrol prices by applying rupee-dollar parity. The Pakistani rupee closed at Rs168.68 to a dollar on Wednesday, compared with around Rs74 to a dollar Indian price. Even Afghani rupee is far stronger than Pakistani rupee.

The finance minister said that it has also been decided to slash taxes on edible oil to reduce their prices by Rs45 to Rs50 per kg. “The government will offer direct food subsidies to 40 to 42% people on the edible items,” he said.

Sugar will be available at Rs89.75 per kg across the country and wheat flour at Rs55 per kg for everyone and Rs43 for the poor people, said Cheema.

While commenting on the IMF talks, Tarin said that the power sector will be an issue and “we will try to find a solution to that”. He added: “There is no prior action on the power sector and everything will be discussed during these talks.” He again said that increasing tariffs was not a solution to the power sector’s problems.

The minister said that the government has shown progress in the revenue collection during the current fiscal year and it would expand the tax base by using technology. “Pakistan and the IMF are expected to begin programme review talks from October 4.”

Responding to a question about his six months ministerial term that is going to end on October 15th, the finance minister said, “I am not going anywhere and I have trust in the prime minister’s promise of getting me elected as senator.”

However, Imran Khan has not yet announced a schedule for his election, as it will require at least 23 days from the point of getting a seat vacated by a sitting senator and electing a new senator in his place.
 

Abdus Salem killed

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HitmanBlood

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:crazy:

Express Tribune - Govt moves to ‘cool down’ an ‘over heating’ economy
Finance Minister Tarin announces restrictive measures to slow down growth
Finance Minister Shaukat Tarin announced on Wednesday to take restrictive measures to “cool down” an “over heating” economy, marking the beginning of reversal of expansionary fiscal policies after external sector vulnerabilities exposed sooner than expected.

“It has been decided to introduce a 100% cash margin requirement for imports and impose regulatory duties to curb imports of non-essential items,” Tarin told a press conference – his second in less than 10 days to respond to increasing criticism over higher inflation.

“If [the new] measures are not taken, the economy could grow at more than 5% rate and this is the time to control the growth rate, the finance minister told the reporters, while explaining the reasons behind taking these measures.

“My concern is that the economy may overheat and there could be exchange rate related problems if the GDP growth rate exceeds above 5% annually,” he added, while responding to a question from The Express Tribune.

Before the budget, Tarin had been cautioned about the adverse impact of expansionary fiscal policies but the minister at that time had opined that the economy can sustain over 6% growth rate, finance ministry sources said.

Introduction of cash margins –where the importers are required to deposit cash in dollars in advance—and regulatory duties are considered import restrictive measures that are usually discouraged by the International Monetary Fund (IMF).

The government decided to take these steps after the two-month import bill exceeded $12 billion and the central bank called for urgent measures. The State Bank of Pakistan (SBP) has already increased the discount rate by 0.25% while also signalling a further increase at an appropriate time.

The SBP policy statement also pointed out things that the federal government has to do to minimise threats to external sector stability.

The message in the central bank’s monetary policy statement was that so far the reliance was only on exchange rate too and there was also a need to use monetary policy and fiscal policy tools “to cool down” the economy, said the finance minister.

“The fiscal side acceleration needs to be reduced to lower the heat and we are now closely monitoring the fiscal policy,” Tarin added. He said that fiscal operations were in line with the projections during the current fiscal year but the finance ministry was monitoring the situation.

Doubtful petrol prices comparison

Tarin and Special Assistant to Prime Minister on National Food Security Jamshed Cheema claimed during the press conference that petrol prices were the cheapest in Pakistan compared to the region. Compared with Rs123 per litre price in Pakistan, “the petrol price in India is 250 rupees per litre and 198 in Bangladesh”, Tarin said.

“The per-litre petrol price in Mumbai is Rs105.92,” an Indian journalist, who is a member of the South Asian Society for Economic Reporters (SASER), said. The SASER is an association for business and economic reporters of South Asia.

“It’s 90 taka per litre in Bangladesh,” said another SASER member journalist from Bangladesh. One litre petrol price is 157 rupees in Sri Lanka , according to a SASER member from Sri Lanka. The Nepalese SASER member said that the petrol was being sold at 129 in local rupee.

In order to avoid growing criticism, the government gave controversial figures by translating regional countries’ petrol prices by applying rupee-dollar parity. The Pakistani rupee closed at Rs168.68 to a dollar on Wednesday, compared with around Rs74 to a dollar Indian price. Even Afghani rupee is far stronger than Pakistani rupee.

The finance minister said that it has also been decided to slash taxes on edible oil to reduce their prices by Rs45 to Rs50 per kg. “The government will offer direct food subsidies to 40 to 42% people on the edible items,” he said.

Sugar will be available at Rs89.75 per kg across the country and wheat flour at Rs55 per kg for everyone and Rs43 for the poor people, said Cheema.

While commenting on the IMF talks, Tarin said that the power sector will be an issue and “we will try to find a solution to that”. He added: “There is no prior action on the power sector and everything will be discussed during these talks.” He again said that increasing tariffs was not a solution to the power sector’s problems.

The minister said that the government has shown progress in the revenue collection during the current fiscal year and it would expand the tax base by using technology. “Pakistan and the IMF are expected to begin programme review talks from October 4.”

Responding to a question about his six months ministerial term that is going to end on October 15th, the finance minister said, “I am not going anywhere and I have trust in the prime minister’s promise of getting me elected as senator.”

However, Imran Khan has not yet announced a schedule for his election, as it will require at least 23 days from the point of getting a seat vacated by a sitting senator and electing a new senator in his place.
Makes sense that they want to reduce imports but without proper domestic industry to provide alternative of imports it will lead to price hikes and most likely create a black market for smuggling.

Restricting GDP growth may sound weird but given the fact that Pakistani economy is heavily dependent on imports any growth in GDP will lead to higher demand for imports which is a big worry for bankrupt Pakistan. Such policy will have disastrous effect for middle class in short term and if proper steps to permanently reduce dependency on imports are not taken it could slide Paki economy in a long recession.

This is what happens when you set your priorities wrong.

A small example of wrong priorities:
In 1947 Pakistan had 8,124 km of railways, today it is 7,791 km.


pakistan-train-crowd-jumbo.jpg


But they have nuclear bomb.
 

Marliii

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Makes sense that they want to reduce imports but without proper domestic industry to provide alternative of imports it will lead to price hikes and most likely create a black market for smuggling.

Restricting GDP growth may sound weird but given the fact that Pakistani economy is heavily dependent on imports any growth in GDP will lead to higher demand for imports which is a big worry for bankrupt Pakistan. Such policy will have disastrous effect for middle class in short term and if proper steps to permanently reduce dependency on imports are not taken it could slide Paki economy in a long recession.

This is what happens when you set your priorities wrong.

A small example of wrong priorities:
In 1947 Pakistan had 8,124 km of railways, today it is 7,791 km.


View attachment 112016

But they have nuclear bomb.
So apart from literacy pakis have shown me that even railway lines in their country decline
 

Covfefe

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Now they are airing their laundry in the open-


Translation-

Chinese State Media-
Kamran Khan Sahib! If China had not implemented energy projects in Pakistan, then the duration of load shedding in Pakistan would have been 16 hours a day. Time is surplus in energy sector (continued)
Quote Tweet

Kamran Khan-
Let us know the bitter reality of Pakistan. Pak-China friendship higher than Himalayas. Chinese ideology is in its place. Friendship is in its place. Business is in its place. Watch this video and decide


1632671473705.png
 

ezsasa

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Now they are airing their laundry in the open-


Translation-

Chinese State Media-
Kamran Khan Sahib! If China had not implemented energy projects in Pakistan, then the duration of load shedding in Pakistan would have been 16 hours a day. Time is surplus in energy sector (continued)
Quote Tweet

Kamran Khan-
Let us know the bitter reality of Pakistan. Pak-China friendship higher than Himalayas. Chinese ideology is in its place. Friendship is in its place. Business is in its place. Watch this video and decide


View attachment 112037
This partly explains an observation from a few months ago.

just one correction, paki did get a benefit from CPEC. They got new power plants constructed in record time, more than 5 gw.

looks like power cuts have also reduced considerably in past two years.

Was checking HUBCO’s( they have 10 gw power generation portfolio) last balance sheet, their profits increased considerably. But their profits increased while their revenue decreased, not sure what exactly this means.
 

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