Pakistan Economy: News & Discussion

[FalconSlayers]

 

[FalconSlayers]

Al-Bakistan on the verge of collapse

Pakistan staring at $20 billion CAD. All eyes on Imran Khan’s address to the nation

Social activist Asma Azam said ‘this means that the war between Russia and Ukraine will cause a further inflationary bomb on their people.’

theprint.in

 

[Concard]

Al-Bakistan on the verge of collapse

Pakistan staring at $20 billion CAD. All eyes on Imran Khan’s address to the nation

Social activist Asma Azam said ‘this means that the war between Russia and Ukraine will cause a further inflationary bomb on their people.’

theprint.in

Where will they run this time for loans? I guess only IMF is the option? They have literally saturated number of countries who can give them loans. Saudi Arabia, China, UAE and who else. I doubt Chinese will entertain their request for more loans this time. If they go IMF they are screwed. They will tell them to rise prices on everything. More external debt addition on the horizon.

 

[FalconSlayers]

Where will they run this time for loans? I guess only IMF is the option? They have literally saturated number of countries who can give them loans. Saudi Arabia, China, UAE and who else. I doubt Chinese will entertain their request for more loans this time. If they go IMF they are screwed. They will tell them to rise prices on everything. More external debt addition on the horizon.

And Imrand Khan is focussing on remittances and IT sector when core issue is Manufacturing and until and unless Porkis get a manufacturing industry making it atleast a bit self sufficient nothing of these remittances programmes and IT schemes will work because afterall anyone earning dollars will also spend them on imports.

 

[Covfefe]

Where will they run this time for loans? I guess only IMF is the option? They have literally saturated number of countries who can give them loans. Saudi Arabia, China, UAE and who else. I doubt Chinese will entertain their request for more loans this time. If they go IMF they are screwed. They will tell them to rise prices on everything. More external debt addition on the horizon.

They'll apply for the next IMF program by Sep 2022, (if they survive as per Raina baba)

 

[Mikesingh]

And Imrand Khan is focussing on remittances and IT sector when core issue is Manufacturing and until and unless Porkis get a manufacturing industry making it atleast a bit self sufficient nothing of these remittances programmes and IT schemes will work because afterall anyone earning dollars will also spend them on imports.

Gas shortage leads to Pakistan losing 20% of vital textile exports

Pakistan’s natural gas shortage is hurting its most important export industry, putting even more stress on an economy already struggling with accelerating inflation and a weakening currency.

About $250 million of textiles exports were lost last month after mills in Punjab were forced to shut for 15 days, said Shahid Sattar, executive director of All Pakistan Textile Mills Association. Factories in the province are dependent on regasified imports of liquefied natural gas, while domestic ..

https://economictimes.indiatimes.co...ofinterest&utm_medium=text&utm_campaign=cppst

The news emanating from our pesky Western neighbor keeps getting better and better!!

 

[Rassil Krishnan]

And Imrand Khan is focussing on remittances and IT sector when core issue is Manufacturing and until and unless Porkis get a manufacturing industry making it atleast a bit self sufficient nothing of these remittances programmes and IT schemes will work because afterall anyone earning dollars will also spend them on imports.

they actually do get a lot of remittances compared to their imports,its actually their only shining light.this deficit is despite having such remittances.

 

[Swesh]

Pakistan heading towards record $20bn deficit mark

ISLAMABAD: All projections to curtail the rising current account deficit dashed to the ground in the wake of rising international prices; it is being feared that Pakistan is heading towards a...

www.thenews.com.pk

 

[FalconSlayers]

Their currency is stable as of now, and the way Paki currency has been depreciating it usually stays stable after a crash and then after remaining stable crashes again. Expecting another crash in a few months.

Al-Bakistanis are so predictable

Pakistan heading towards record $20bn deficit mark

ISLAMABAD: All projections to curtail the rising current account deficit dashed to the ground in the wake of rising international prices; it is being feared that Pakistan is heading towards a...

www.thenews.com.pk

For folks who want to know the reason for their currency crash
Their Current Account Deficit can never be cured, the whole country is a failed project.

 

[RoaringTigerHiddenDragon]

Where will they run this time for loans? I guess only IMF is the option? They have literally saturated number of countries who can give them loans. Saudi Arabia, China, UAE and who else. I doubt Chinese will entertain their request for more loans this time. If they go IMF they are screwed. They will tell them to rise prices on everything. More external debt addition on the horizon.

They scared almost all countries with exceptional bheeek maaanging that even Biden is scared of calling Taliban Khan Niazi. Not a single world leader wants to talk to Im the Dim for the fear of having a begging bowl thrust into their face. They tried to get some money out of Bill Gates recently but Gates showed his pockets were empty right away and sat a few feet away from the Niazi to avoid the scary begging bowl. Also no diplomats were allowed in the room just in case Katora Khan distracted Bill while the diplomats worked to pickpocket Bill’s credit cards. IMF at this point is possibly going to demand that Pakistan shut down its Army and save that budget for paying back the loans. So they won’t go there anymore. The only card is China and it’s banks, who as we know will extract blood from stone, which means the Paki government might ask each and every Porki to become an involuntary organ donor so their Chinese masters can live. That and donkey exports will keep the Packi economy running.

 

[FalconSlayers]

Wølvên Clañ (@TheLegateIN) Tweeted:
Report: Pak seeks financial support of $21 billion from China through rollover of existing loans of $10.7 billion & another $10 bln as deposits to deal with financial challenges.
Pak plans to vastly reduce dependence on west-backed orgs like IMF+WB & instead get funds from .

 

[Concard]

Wølvên Clañ (@TheLegateIN) Tweeted:
Report: Pak seeks financial support of $21 billion from China through rollover of existing loans of $10.7 billion & another $10 bln as deposits to deal with financial challenges.
Pak plans to vastly reduce dependence on west-backed orgs like IMF+WB & instead get funds from .

They are asking in total $31 billion from China in addition to rolling over $10 billion of existing loans. It doesn't take a genius to understand they are asking more than what they have in their forex. And there is no way in hell they will ever pay this back as this will also be a loan and will be used to pay back loans taken previously. Chinese won't be financing them forever if they depend only on them. So the circle of going to IMF will continue with no end in sight.

 

[AVERAGE INDIAN]

Pakistan heading towards record $20bn deficit mark

ISLAMABAD: All projections to curtail the rising current account deficit dashed to the ground in the wake of rising international prices; it is being feared that Pakistan is heading towards a historic record of $20 billion deficit mark. In the wake of the ongoing lingering war between Russia and Ukraine, it has multiplied the worries of Pakistan’s economic managers owing to rising POL and commodities prices in the international markets.

Pakistan’s former finance minister and renowned economist Dr. Hafeez A Pasha disclosed to The News that the current account deficit was heading towards a historic record by touching the $20 billion mark or 6 percent of Gross Domestic Product (GDP) for the current fiscal year. He said that the international prices were witnessing skyrocketing trends and now the CAD would witness more pressure with the possibility of touching a historic high. He said that the CAD had already touched the $11.6 billion mark in the first seven months of the current fiscal year and now it was projected that it might go up to unprecedented levels of $20 billion mark against $19 billion in the fiscal year 2017-18.

Mujra link

Pakistan heading towards record $20bn deficit mark

ISLAMABAD: All projections to curtail the rising current account deficit dashed to the ground in the wake of rising international prices; it is being feared that Pakistan is heading towards a...

www.thenews.com.pk

 

[AVERAGE INDIAN]

Govt seeks $21bn support from China

ISLAMABAD: Pakistan has sought financial support of about $ 21 billion from China through rollover of existing loans of $ 10.735 billion and $ 10 billion as deposit fund, to meet future financial needs and deal with financial challenges, well informed sources in Finance Ministry told Business Recorder.

Sharing the details, the sources said several agenda items came under discussion during the Prime Minister’s visit to China, including those submitted by the Ministry of Finance that included rollover of all financing facilities’ (SAFE deposits of $4.0 billion and commercial loans of $6.735 billion) upon maturity - one SAFE deposit of $2.0 billion is maturing on March 23, 2022. A rollover request has already been made, duly signed by the Prime Minister in January 2022. {No reply received yet against these requests made in Jan, hainji?} Likewise, a 3-year commercial loan of RMB 15 billion equivalent to $2.235 billion from a consortium of CDB, BOC and ICBC is maturing on March 25, 2022.

The sources said Ministry of Finance has been in contact with CDB for its refinancing, and a formal request on January 27, 2022 has also been sent. Other deposits and commercial loans will be maturing at later dates.

According to the sources, Pakistan has also requested for provision of a deposit fund of $10 billion. In addition, State Bank of Pakistan has proposed enhancement of currency swap arrangement to $15 billion.

more in Al- Bakistan news

Govt seeks $21bn support from China

* Requests rollover of existing loans of $ 10.735 billion and $ 10 billion as deposit fund

www.brecorder.com

 

[FalconSlayers]

This is the koolaid on which Porkis survive

IT exports to touch $25bn in five years: expert

IT-related exports will outstrip the current size of overall exports in a few years if the govt focuses on it, says Veqar ul Islam

www.dawn.com

In 2020

‘IT exports to reach $5bn by 2023’

IT minister says measures taken by the IT ministry moving on the right track.

www.dawn.com

Pakistan’s IT exports to reach $10 billion by 2030

Pakistan’s IT sector is expected to grow to export $10 billion worth of IT services by 2030 with Systems Limited in the lead.

www.techjuice.pk

 

[Tactical Doge]

This is the koolaid on which Porkis survive

IT exports to touch $25bn in five years: expert

IT-related exports will outstrip the current size of overall exports in a few years if the govt focuses on it, says Veqar ul Islam

www.dawn.com

In 2020

‘IT exports to reach $5bn by 2023’

IT minister says measures taken by the IT ministry moving on the right track.

www.dawn.com

Pakistan’s IT exports to reach $10 billion by 2030

Pakistan’s IT sector is expected to grow to export $10 billion worth of IT services by 2030 with Systems Limited in the lead.

www.techjuice.pk

How much is Indian IT exports worth

 

[FalconSlayers]

How much is Indian IT exports worth

$150 billion this year

 

[AVERAGE INDIAN]

Pakistan: Budget deficit hits record PKR 4.3 tr
Read more At:

The PKR 4.3 trillion budget deficit will be equal to 8 per cent of the Gross Domestic Product (GDP) on the basis of the old base year of the economy. It will stay high though the Pakistani government has squeezed the federal development budget by at least PKR 200 billion.

But the revised GDP base year has not yet been approved by the governing council of Pakistan Bureau of Statistics (PBS), Pakistani newspaper The Express Tribune reported on Thursday.

The gap of PKR 4.3 trillion is being bridged by taking more domestic and international loans.

This year, the Pakistani government has imposed a PKR 360 billion mini-budget and the Federal Board of Revenue (FBR) made windfall gains in tax collection on higher imports and higher inflation, despite all these efforts, the fiscal deficit went PKR 318 billion higher than the target set by the Pakistani government in June last year.

“The increase in current expenditures is expected due to rising interest payments, Covid-19 related spending, energy subsidies, social safety net expenditures and running of civil government,” the Ministry of Finance report was quoted as saying by The Express Tribune.

Pakistan’s Finance Ministry is planning to adjust the Public Sector Development Programme (PSDP) whose spending remained only slightly above half of the money that the government had authorised for spending in the first half of the current fiscal year.

Total expenditures of the federal government are still shown less than PKR 8.5 trillion, although huge slippages are expected due to the PM’s relief package-related spending.

During the first half, the non-tax revenue collection came in at only PKR 715 billion, even lower than the previous fiscal year.

The cabinet was informed that the non-tax revenue collection was equal to only 69 per cent of the half-year estimate due to less collection of a petroleum development levy, gas infrastructure development cess (GIDC) and dividends from government-owned companies, The Express Tribune reported. (ANI)

Pakistan: Budget deficit hits record PKR 4.3 tr

Islamabad [Pakistan], March 11 (ANI): The Pakistani budget deficit is Pakistani Rupees (PKR) 4.3 trillion, the highest ever.

www.aninews.in

 

[AVERAGE INDIAN]

China, Pakistan power plant dispute at a breaking point

Beijing refuses to renegotiate ‘take-or-pay’ power purchase agreements while Islamabad claims foul play by Chinese producers

Last September, Pakistan pledged to pay US$1.4 billion due to Chinese power plants against accumulated owed dues of $2.3 billion during a meeting of the 10th Joint Cooperation Committee of the CPEC.

The China Electric Power Equipment and Technology Co Ltd (CET) and the State Grid Corporation of China (SGCC), registered in Pakistan as the Pak Matiari-Lahore Transmission Company Private Limited (PMLTC), sent a strongly-worded letter to the Ministry of Water and Power requesting it to release $700 million by March 24 to avert a default under the facility agreement.

Pakistan faces a looming financial crisis, with the budget deficit widening to an all-time high of $24 billion, the trade deficit to $31 billion and the current account deficit expected to touch $31 billion by the end of June this year.


The record $24 billion budget deficit – equal to 8% of gross domestic product (GDP) – persisted despite a cut in the development budget of $1.1 billion. Pakistan will need to procure more domestic and foreign loans to bridge this huge budgetary gap of 4.3 trillion rupees ($24 billion).

BAT SOUP LINK

China, Pakistan power plant dispute at a breaking point - Asia Times

PESHAWAR – With China virtually halting the multi-billion dollar China-Pakistan Economic Corridor (CPEC) over differences in cost estimations and contractual disputes, the issue of overdue payments owed to Chinese independent power producers (IPPs) is near a breaking point. Media reports claim...

asiatimes.com

 

[Abdus Salem killed]

China, Pakistan power plant dispute at a breaking point

Beijing refuses to renegotiate ‘take-or-pay’ power purchase agreements while Islamabad claims foul play by Chinese producers






BAT SOUP LINK

China, Pakistan power plant dispute at a breaking point - Asia Times

PESHAWAR – With China virtually halting the multi-billion dollar China-Pakistan Economic Corridor (CPEC) over differences in cost estimations and contractual disputes, the issue of overdue payments owed to Chinese independent power producers (IPPs) is near a breaking point. Media reports claim...

asiatimes.com

Asiatimes is from Hong Kong not batsoup a seperate country