Pakistan Economy: News & Discussion

[Flame Thrower]

Hypothetically if world stops using oil, UAE will not survive.

The premise of business in UAE is that it is equidistant air travel from Europe and Asia via emirates. If their airports shuts down, chapter close.

Though we all want world to get over oil (some due to huge forex drain, some hoping that ME would starve and some for both). It would take couple of decades, to get over oil, even if we do, the prices would plummet if we start using 50% of vehicles with battery or fuel cell.

Moreover, oil production states have huge stash, once they smell oil is getting replaced, they'd use everything either to stop the progress or to create non fuel income like Dubai or UAE.

Tell me why would one of the world's busiest airport shut's down!!?? I'd wager that as long as air travel is there, they'd operate without an issue

 

[Kshatriya87]

This is my point. I am saying that oil income is the root cause of other incomes.

Tourism of Dubai failed as it was a hot desert and none like to come here as a result. Beach is hot, towns are hot and people have to stay indoors in AC room!

Tourism works in some places like Mecca/Medina due to obvious reasons. But otherwise tourism is not simple. Moreover, non-obligatory tourism relies heavily on transportation which in turn on oil price and availability.

I understand where you are coming from. But please also read these;

Growth in non-oil sectors offer relief for Middle East economies

Saudis Look Beyond Oil to New Economy in Desert

 

[Jackd]

Tourism of Dubai failed as it was a hot desert and none like to come here as a result. Beach is hot, towns are hot and people have to stay indoors in AC room!

Tourism works in some places like Mecca/Medina due to obvious reasons. But otherwise tourism is not simple. Moreover, non-obligatory tourism relies heavily on transportation which in turn on oil price and availability.

Wrong. According to Dubai Tourism Board, in 2017, there were 15.79 million foreign tourists visiting Dubai. Source: https://www.visitdubai.com/en/depar...entre/press-releases/2017-tourism-performance

Whereas, India was visited by only 10 million tourists. Source: http://pib.nic.in/newsite/PrintRelease.aspx?relid=175628

 

[Pandeyji]

^^MC FO



Strange fact: Just draw a wild Tiger's land u will find food surplus countries.China killed tigers but still China has huge quantity of agri land along with deserts.

Bro existence of basic life needs FOOD.IF food is scarce u kill your own mother and father to save your kids because u know your kids are future to sustain race....the reason behind violence in ME.Survival.

Snow-clad areas(ppl) survive on fish,animals and grow plants in summer. What desert barbarians do in any season... nada,nil... just kill, kill and more kill.

Why i explained basic things IS ''Market means EXCHANGE of Products... What will desert barbarians exchange if they want even one kg of rice if OIL is no longer needed or oil is finished''?

Their stupid high buildings have ZERO value.

Koi subtitle lagao. Or atleast explain what mysticism is this?

 

[ezsasa]

Though we all want world to get over oil (some due to huge forex drain, some hoping that ME would starve and some for both). It would take couple of decades, to get over oil, even if we do, the prices would plummet if we start using 50% of vehicles with battery or fuel cell.

Moreover, oil production states have huge stash, once they smell oil is getting replaced, they'd use everything either to stop the progress or to create non fuel income like Dubai or UAE.

Tell me why would one of the world's busiest airport shut's down!!?? I'd wager that as long as air travel is there, they'd operate without an issue

No I am not saying their airports will shut down, I am saying emirates especially Dubai’s business model depends a lot on their airport.

London business houses keep an office in Dubai, because of connecting flights to rest of Central Asia and South Asia from Dubai. For east Asia they have Hong Kong and Singapore.

 

[Jackd]

^^MC FO


Bro existence of basic life needs FOOD.IF food is scarce u kill your own mother and father to save your kids because u know your kids are future to sustain race....the reason behind violence in ME.Survival.

Snow-clad areas(ppl) survive on fish,animals and grow plants in summer. What desert barbarians do in any season... nada,nil... just kill, kill and more kill.

Why i explained basic things IS ''Market means EXCHANGE of Products... What will desert barbarians exchange if they want even one kg of rice if OIL is no longer needed or oil is finished''?

Their stupid high buildings have ZERO value.

Euphrates and Tigris flows through Turkey, Syria, Iraq and through a small portion of Iran. These rivers housed the great Mesoptamian Civiliaztion.

This map clearly points to the fact they have had access to sea and thus fishing as well sea helps in moderating the temp. because it takes time to cool down and get warm in comparison with land.

 

[Advaidhya Tiwari]

Then you need a good economic teacher.

It is your assumption that only agriculture and manufacturing is the economy. But it is not, there is a whole world out there. Manufacturing company setting up a customer care call center or outsourcing those sources. Food manufacturing company making deal with logistics and farms to make sure the raw materials.

In just two examples you have missed two industries that giving opportunities and there are tonnes of such cases.

Can you give me one good reason why do you consider only Manufacturing and Agriculture are the only two industries as economy of a country!!?? Will you stop this nonsense, if I show how other sectors help in their business or create business on their piggy backing on the products of agriculture and manufacturing!!??

I am saying that all other activities depend on agriculture and manufacturing. You point that manufacturing requires call centre also proves my point. All I intend to say is that every activity depends on agriculture and manufacturing (manufacturing also includes mining like oil)

Wrong. According to Dubai Tourism Board, in 2017, there were 15.79 million foreign tourists visiting Dubai. Source: https://www.visitdubai.com/en/depar...entre/press-releases/2017-tourism-performance

Whereas, India was visited by only 10 million tourists. Source: http://pib.nic.in/newsite/PrintRelease.aspx?relid=175628

Dubai has lot of immigrants and expatriates. Most of the visitors are the relatives of these or go for Islamic banking services which UAE provides by virtue of being Islamic economic hub. But this in turn relies on oil production.

Euphrates and Tigris flows through Turkey, Syria, Iraq and through a small portion of Iran. These rivers housed the great Mesoptamian Civiliaztion.

This map clearly points to the fact they have had access to sea and thus fishing as well sea helps in moderating the temp. because it takes time to cool down and get warm in comparison with land.

Saudi population was 20 lakh in 1920 and it is now 3crore. The population of today can't be handled with the old river system. It requires import of food. That is also the reason why Ottoman empire was based in Turkey instead of Arab land. Turkey is well fed and fertile land which has lot of water. Hence Ottoman could feed themselves.

I understand where you are coming from. But please also read these;

Growth in non-oil sectors offer relief for Middle East economies

Saudis Look Beyond Oil to New Economy in Desert

They are trying but the reality is that production is required and nothing has started yet. They are saying this for about 10 years now but there is nothing visible on the ground

 

[Kshatriya87]

They are trying but the reality is that production is required and nothing has started yet. They are saying this for about 10 years now but there is nothing visible on the ground

Nothing is visible on the ground? Please refer below. This is from the annual report of UAE economy 2017.

.

.

 

[Kshatriya87]

They are trying but the reality is that production is required and nothing has started yet. They are saying this for about 10 years now but there is nothing visible on the ground

Nothing is visible on the ground? Please refer below. This is from the annual report of UAE economy 2017.

 

[Haldiram]

''Market means EXCHANGE of Products...

...and services.

Look at India. We don't have oil or gold or weapons to sell. We buy those. We more than make up for it by selling services.

 

[Advaidhya Tiwari]

Nothing is visible on the ground? Please refer below. This is from the annual report of UAE economy 2017.

View attachment 28804 View attachment 28805

Chemical plants also come under oil sector. Rest all as your own picture shows, is just service provision of imported items

 

[Kshatriya87]

Chemical plants also come under oil sector. Rest all as your own picture shows, is just service provision of imported items

Which earns revenues in billions .

 

[Advaidhya Tiwari]

Which earns revenues in billions .

Yes, but the most important thing here is that the chemicals are made from oil and gas and the chemical plants are just another form of refinery.

My point always was that all activities depend upon agriculture, mining and manufacturing. UAE has only oil and related industry and nothing else. Same with Saudi Arabia too. These economy rely solely on oil production. So, your idea that these people are good investors is incorrect.

 

[Kshatriya87]

Yes, but the most important thing here is that the chemicals are made from oil and gas and the chemical plants are just another form of refinery.

My point always was that all activities depend upon agriculture, mining and manufacturing. UAE has only oil and related industry and nothing else. Same with Saudi Arabia too. These economy rely solely on oil production. So, your idea that these people are good investors is incorrect.

The list I posted includes manufacturing, textile and many more non-oil dependent sources.

 

[Mikesingh]

Pakistan’s currency plunges as it seeks IMF loan

Pakistan’s currency plunged by about 7 percent on Tuesday after the government said it would seek emergency bailout loans from the International Monetary Fund. The Pakistani rupee briefly weakened to 138 to the dollar on Tuesday before settling at 133.6.

Reveal China debts: IMF’s pre-condition for Pak bailout deal

Nusa Dua (Indonesia):

The International Monetary Fund launched formal bailout talks with Pakistan on Thursday, and IMF managing director Christine Lagarde said she would require “absolute transparency” of Pakistan’s debts, including those owed to China. She said such disclosures were necessary to determine the debt sustainability of countries seeking IMF loans.

The requirements are likely to shine a spotlight on the extent, composition and terms of Pakistan’s debts to China for infrastructure projects as part of Beijing’s massive Belt and Road Initiative.

China has pledged some $60 billion in financing to Pakistan for ports, railways and roads, but rising debt levels have caused Islamabad to cut the size of the biggest BRI project by some $2 billion. “In whatever work we do, we need to have a complete understanding and absolute transparency about the nature, size, and terms of the debt that is bearing on a particular country,” Lagarde said when asked about Pakistan’s debts to China.

US secretary of state Mike Pompeo has said there would be “no rationale” for an IMF bailout of Pakistan that pays off Chinese loans.

Lagarde said the IMF would need to know the extent and composition of a country’s debt, including sovereign debt and state-owned enterprise debt, “so that we can actually really appreciate and determine the debt sustainability of that country, if and when we consider a programme,” she added.

The formal request follows an apparent 7% devaluation of the Pakistani rupee by the central bank on Tuesday. If a package is agreed, it would be Pakistan’s 13th IMF bailout since 1988. The Fund lent Islamabad $6.7 billion in 2013.

https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/?olv-cache-ver=20180917041735

So Pak is stuck between a rock and a hard place. Till this day, the Pakis themselves are unaware of the devils in the detail that their Chinese masters have woven into the deal! I wonder how they're gonna get the IMF bailout in the absence of these details? Will the Chinese oblige? I doubt it seeing the mind boggling corruption in the CPEC projects.

Pakis are squirming.......and I love it!! :biggrin2:

 

[Haldiram]

Pakistan tense over FATF team visit on counter-terror steps

 

[Mikesingh]

Pakistan tense over FATF team visit on counter-terror steps

FATF slams Pak for failing to plug terror funding

Not impressed with Pakistan’s efforts to combat terror financing, a delegation of the Financial Action Task Force has asked it to do more to strengthen its legal framework to avoid being blacklisted by the watchdog, a media report said on Thursday.

Dawn reported that FATF’s Asia Pacific Group delegation was not impressed with the progress made by Pakistan so far as it found the legal framework insufficient, and the institutional arrangements weak. PTI

https://epaper.timesgroup.com/Olive/ODN/TimesOfIndia/?olv-cache-ver=20180917041735#

Time's up for Pak. They're heading into the black hole of being including in the FATF black list. If that happens, it's curtains for them.

 

[lcafanboy]

Toyota Pakistan stops taking orders after rupee depreciation

KARACHI: The Indus Motor Company has stopped taking orders due to the recent depreciation in Pak rupee's value, which, according to the company has resulted in substantial cost increase of units.

The company made the announcement in a ‘Public Notice’ published in newspapers today.

IMF demands details of all debts

“Indus Motor Company ("IMC") would like to inform the general public that we have STOPPED OUR ORDER BOOKINGS for a few days, due to the recent depreciation in Pak Rupee's value, which has resulted in substantial cost increase on account of C&F, Government Duties & Taxes, imported components and raw materials for local parts.
https://www.google.co.in/amp/s/www....-stops-taking-orders-after-rupee-depreciation

Industries and people start feeling the HEAT.....

 

[lcafanboy]

US sees Chinese debt responsible for economic woes in Pakistan

WASHINGTON: The United States early on Friday said that the huge Chinese debt responsible for the economic challenges in Pakistan, adding that it will review government's bailout plea to the IMF from all angles, including the country's debt position.

During a press conference,the State Department spokesperson Heather Nauert said; "We understand that Pakistan has formally requested assistance from the International Monetary Fund (IMF). In all cases, we examine that closely from all angles of it, including Pakistan's debt position, in evaluating any type of loan programme," adding this is something the United States has been tracking fairly closely.

Responding to a question, Nauert said; "The secretary had spoken about this a few months back, I know, in some interviews not that long ago. I think part of the reason that Pakistan found itself in this situation is Chinese debt, and the fact that there is debt that governments have incurred that they maybe thought wouldn't be so tough to bail themselves out of, but has become increasingly tough."

The State Department response on Pakistan's IMF bailout request appeared to be in sync with the statement made by IMF Managing Director Christine Lagarde.

The IMF’s Managing Director, Christine Lagarde, has confirmed that Pakistan requested financial assistance from the IMF to help address the country’s economic challenges and the Fund would be sending its team to Islamabad in coming weeks to initiate discussions for possible package.

To a questions on this issue in Bali, Indonesia, Lagarde said she would require absolute transparency on Pakistan's debts, including those owned by China.

https://www.google.co.in/amp/s/www.thenews.com.pk/amp/379848-chinese-debt-responsible-for

Now the earlier master seeks his pound of flesh.... Uncle didn't like his bitch sleeping with Lizard and wants her bitch back on his bed......

 

[republic_roi97]

Toyota Pakistan stops taking orders after rupee depreciation

KARACHI: The Indus Motor Company has stopped taking orders due to the recent depreciation in Pak rupee's value, which, according to the company has resulted in substantial cost increase of units.

The company made the announcement in a ‘Public Notice’ published in newspapers today.

IMF demands details of all debts

“Indus Motor Company ("IMC") would like to inform the general public that we have STOPPED OUR ORDER BOOKINGS for a few days, due to the recent depreciation in Pak Rupee's value, which has resulted in substantial cost increase on account of C&F, Government Duties & Taxes, imported components and raw materials for local parts.
https://www.google.co.in/amp/s/www....-stops-taking-orders-after-rupee-depreciation

Industries and people start feeling the HEAT.....

On the contrary here in India, these manufacturers are going to be taking highest number of orders of the year. So Toyota International wouldn't even mind losses from Pakistan lol, just by enjoying the tremendous sales from India, damn even a non festive month sees 6000 Innova sales imagine how big the festive season gets, and that is just one car.