Pakistan Economy: News & Discussion

[The Ultranationalist]

The effect of IMF's fiscal and monetary policies devised to run pokistan's economy have started to show up

 

[nongaddarliberal]

Defence services secured biggest supplementary grant

Govt exceeded its sanctioned expenditure limit by Rs222bn without parliamentary approval, says finance ministry. — AFP/File

Le porki army: we will not raise the defence budget due to economic conditions in pakistan

Also le porki army: we demand a 21.5% increase in budget

 

[The Ultranationalist]

View attachment 35869
what do you guys think of this...............?

We took loan from the IMF, our currency devaluated. Porkistan will be hit even harder.

 

[Indx TechStyle]

What was their last year budget ?

80% of this year in terms of PKR against this year but some 115-120% in terms of USD this year.

They have increased in Pakistani rupees while currency depreciation decreased their GDP & budget in dollars.

We took loan from the IMF, our currency devaluated. Porkistan will be hit even harder.

We deliberately depreciated currency to boost our exports.

Pakistani one is depreciating because they don't have anything to export.

 

[Butter Chicken]

Dollar hits all time high of Rs160.73 against Pak rupee

LAHORE: The Pakistani Rupee (PKR) on Wednesday morning fell further in the early hours of trading at the interbank to another all-time low of Rs160.48/Rs160.73 against US Dollar (USD), an increase of Rs2.19, 3.45 per cent down, from its last close.

According to the available data, during the month of June, the Pakistani rupee depreciated by 8.15 per cent having closed the prior month at Rs147.92 against the mighty dollar.

 

[Illusive]

Le porki army: we will not raise the defence budget due to economic conditions in pakistan

Also le porki army: we demand a 21.5% increase in budget

Its ok, Paki awam is used to eating grass since 1974, its very important the genrial and offcers of paki fauj go around in their Toyota's, shoot aam abduls for being aam abduls whenever they wish, build land properties for themselves and also sell it and send their kids abroad. How else will they proteccc pakistan and Ceeepek.

 

[lcafanboy]

Dollar hits all time high of Rs160.73 against Pak rupee

LAHORE: The Pakistani Rupee (PKR) on Wednesday morning fell further in the early hours of trading at the interbank to another all-time low of Rs160.48/Rs160.73 against US Dollar (USD), an increase of Rs2.19, 3.45 per cent down, from its last close.

According to the available data, during the month of June, the Pakistani rupee depreciated by 8.15 per cent having closed the prior month at Rs147.92 against the mighty dollar.

Dollar doing #PKMKB...

 

[bhavesh100]

Dollar hits all time high of Rs160.73 against Pak rupee

LAHORE: The Pakistani Rupee (PKR) on Wednesday morning fell further in the early hours of trading at the interbank to another all-time low of Rs160.48/Rs160.73 against US Dollar (USD), an increase of Rs2.19, 3.45 per cent down, from its last close.

According to the available data, during the month of June, the Pakistani rupee depreciated by 8.15 per cent having closed the prior month at Rs147.92 against the mighty dollar.

Pakistan is already bankrupt. They are running 7.5% of total GDP- budget deficit and need $ 2 billion a month for external account payments. Every 1 paki rupee increase against $, increases 1100 billion rupee debt. They were living off USA ECONOMY AND MILITARY ASSISTANCE. fun time would start if they would be placed in black list by FAFTA IN OCTOBER 2019.

 

[Brimstone]

Dollar hits all time high of Rs160.73 against Pak rupee

LAHORE: The Pakistani Rupee (PKR) on Wednesday morning fell further in the early hours of trading at the interbank to another all-time low of Rs160.48/Rs160.73 against US Dollar (USD), an increase of Rs2.19, 3.45 per cent down, from its last close.

According to the available data, during the month of June, the Pakistani rupee depreciated by 8.15 per cent having closed the prior month at Rs147.92 against the mighty dollar.

10-12 pkr per month ? Now that's good pace. Hope it remains consistent.

 

[Compersion]

PRC Yuan versus the Paki Rupee ?

Historical Exchange Rates For PRC Yuan to Pakistani Rupee ?

Is there like a economic arbitrage available - because PRC and Pakis are lovers and more - why would PRC and Pakis try and economically harm one another. Oh wait depreciate the paki currency is for paki benefit in percentage terms ...

perhaps pakis can do this - dont be shamed a islamic country did it previously:

 

[Mikesingh]

Update 6PM today

Dollar sees biggest jump of the year, rises by Rs 5.8 in a day

The dollar rose by Rs 4.5 in the interbank market on Wednesday to set a new all-time high.

The greenback rose to Rs 161.4, up nearly 2.8% from Tuesday’s closing rate of Rs 156.9. This is the highest ever value of a dollar against the rupee.

https://www.samaa.tv/money/2019/06/dollar-reaches-new-high-against-the-rupee-rises-by-rs3/

Yeh hui na baat!! :biggrin2:

 

[Mikesingh]

And here's more. As if the cost of tomatoes at Rs 180 PKR per kg wasn't enough, gas prices are going to go through the roof wef 01 Jul 2019. That means more and more Pakis sinking below the poverty line as few will be able to afford the basic necessities.

Gas is going to get 190% more expensive in Pakistan
Shakeel Ahmed
3 hours ago

Photo: APP

Gas is going to get way more expensive in Pakistan as the Economic Coordination Committee has approved a whopping 190% increase in household gas prices.

During a meeting on Wednesday, the ECC also approved a 31% increase in other gas categories, such as business and commercial use.

These new rates will come into effect on July 1.

Increasing gas and electricity prices is one of the IMF’s conditions for giving us a loan. It wants Pakistan’s government to collect more revenue from people. With these higher gas rates the government is going to make an additional Rs 500 billion in revenue.

But that might not be the end of it. In December, the government is going to review gas prices again and see if it can impose a further increase.

https://www.samaa.tv/economy/2019/06/gas-is-going-to-get-190-more-expensive-in-pakistan/

 

[bhavesh100]

Pakistan is already bankrupt. They are running 7.5% of total GDP- budget deficit and need $ 2 billion a month for external account payments. Every 1 paki rupee increase against $, increases 1100 billion rupee debt. They were living off USA ECONOMY AND MILITARY ASSISTANCE. fun time would start if they would be placed in black list by FAFTA IN OCTOBER 2019.

Pakistan GDP WAS AT $312 BILLION at 108 rupee rate as per IMF in JUNE 2018. it is downhill from there. FATFA has inside out information about paki economy.

Let me go in brief:

1. AAM ABDUL ECONOMY THAT IS WHAT SHOWS UP IN OFFICIAL BUDGET
2. LAND OWNER-AGRO BUSINESS - MINIMUM TAX VERY RICH BASTARDIZED LAND OWNERS -3000 FAMILIES
3. MILITARY ECONOMY - FAUGI FOUNDATION, NARCO BUSINESS, ETC.

UNLESS 2 AND 3 PAY TAXES, IT WILL BE FREE FOR ALL. 2 & 3 will go too.

 

[Indx TechStyle]

Dollar hits Rs164 in interbank trade

Weekly rupee-dollar parity June 14 to June 21, 2019. — Dawn

The US Dollar rose Rs7.2 to hit Rs164 in interbank trade on Wednesday at the close of the day's trading.

The greenback is being traded at Rs163 in the open market ─ an increase of at least Rs6.

Similarly, a massive increase in the value of gold has also been witnessed during this week, with the yellow metal trading at Rs80,500 per 12 grams today.

In the past two months, since Pakistan signed a deal with the International Monetary Fund (IMF), the dollar has been on a consistent upward climb.

Last week, State Bank of Pakistan Governor Reza Baqir had provided assurances that the central bank was ready to intervene in the market in case of excess volatility. Baqir explained that the government had adopted a market-based exchange rate instead of a free float or fixed exchange rate, as neither were appropriate at this time.

"In the market-based system, you consider supply and demand factors, what side they are pulling the exchange rate, and you don't suppress them. And this is fundamental ─ we keep a close eye on the market, and if there is excessive volatility [...] or special pressures, the SBP intervenes. And we will continue to do so to make sure that there isn't excessive volatility or 'disorderly market conditions', as economists say," Baqir had said.

 

[IndianHawk]

Dollar hits Rs164 in interbank trade

Weekly rupee-dollar parity June 14 to June 21, 2019. — Dawn

That is still after the news of Qatar giving 3-4 billion USD and FATF holding status quo.

Paki rupee is left to its own would probably sink to hyperinflation like Zimbabwe or Venezuela.


Sent from my C103 using Tapatalk

 

[Butter Chicken]

Raw Agent Major Niazi doing his job well

 

[Indx TechStyle]

That is still after the news of Qatar giving 3-4 billion USD and FATF holding status quo.

Even after changing governor of central bank.
Runaway dollar confounds money market

 

[nongaddarliberal]

Even after changing governor of central bank.
Runaway dollar confounds money market

So the paki economy will shrink in dollar terms for a second year in a row. If they keep this up for 5-6 more years, the average Indian will have 4 times their per capita income.

 

[nongaddarliberal]

With the latest exchange rate, pakistans GDP is now 239 billion USD and per capita income is 1120 USD. I want to see it below 1000.

 

[Brimstone]

That is still after the news of Qatar giving 3-4 billion USD and FATF holding status quo.

I heard somewhere that it was 3 billion Qatari Riyal, not dollars. But Advisor to Pakistan Prime Minister on Finance Dr Abdul Hafeez Shaikh said it is $3 billion.

https://m.economictimes.com/news/in...n-bailout-from-qatar/articleshow/69929473.cms
"Upon the directives of HH the Amir, the Deputy Prime Minister and Minister of Foreign Affairs announces of new investments in the form of deposits and direct investments worth a total of QR3 billion in the Islamic Republic of Pakistan," the official Qatar News Agency tweeted, quoted the minister as saying.