Pakistan Economy: News & Discussion

[Brimstone]

Nothing alarming is gonna happen, there is a lot of unaccounted cash in paki economy.

This is why IMF and FATF is pushing Pak for "Accountability".

 

[DMZ_dazzle]

Nothing alarming is gonna happen, there is a lot of unaccounted cash in paki economy. They’ll survive. They don’t have a lot of expectations from their governance systems anyways.

Maybe they don't account it on purpose. Use borrowed money to run all the legal businesses of the country and hawala, drugs money for terrorism.

 

[sorcerer]

'Locusts! Locusts!': Pakistan's crucial cotton crop under threat

The war in Yemen has prevented its authorities from controlling the insects, which now threaten Pakistani agriculture.



Cotton and cotton products are one of Pakistan's main exports, accounting for $11.7bn of the country's $24.7bn in exports last year, according to central bank data. The industry is also one of the country's main employers, providing jobs for tens of thousands across the country, from farmers to spinners and weavers.

Source: Al Jizz

 

[SanjeevM]

Pakistan Shamed Over Twitter Censorship During “Defend Media Freedom” Conference In London
Home ⁄ Pakistan ⁄ Pakistan shamed over Twitter Censorship during “Defend Media Freedom” conference in London
11TH JULY 2019

PAKISTAN SHAMED OVER TWITTER CENSORSHIP DURING “DEFEND MEDIA FREEDOM” CONFERENCE IN LONDON
newscommuniquecom 0 Comment Pakistan, UKCensorship, conference, Defend Media Freedom, Ezra Levant, Foreign Minister, London, Media, Pakistan, UK
World leaders, Journalists and others gathered in London for a 2-day “Defend Media Freedom” conference to agree on ways to defend media freedom. Conference was organized by United Kingdom and co-host, the Government of Canada.

However, the biggest embarrassment of the conference was the invitation to the Pakistan’s Foreign Minister who was invited on the panel. It was an Irony that this Journalist’s body that organized this conference considered Pakistan Foreign Minister as a panelist suitable for the “Defend Media Freedom” conference. It is the same Pakistan where journalists are disappeared and openly killed for reporting anything against Pakistan Army or its Intelligence agency ISI.

In a biggest ever embarrassment for Pakistan, Media Journalists boycotted Pakistan Foreign Minister Shah Mehmood Qureshi’s session and empty chairs welcomed him. As per the Social Media users, it was very unfortunate and shameful for the meeting organizers to invite Pakistan during the “Defend Media Freedom” conference in London.

Empty chairs greeted Pakistan Foreign minister during “Defend Media Freedom” conference because Journalists Boycotted Pakistan Twitter Censorship
Qureshi’s presence at the conference was not popular, as illustrated by the rows of empty seats because of people boycotting his appearance.

Social Media also criticized Pakistan. One of the Twitter user Murtaza Solangi (@murtazasolangi) tweeted “In the major international conference “Defend Media Freedom” in London today, journalists boycott Shah Mehmood Qureshi’s session as empty chairs welcome him”

Pakistan Twitter Censorship
There is great resentment among social activists, journalists and Twitter users on Pakistan Government complaining to Twitter and getting tweets of Twitter users deleted on the pretext of allegedly violating Pakistan Law. We covered it extensively on our previous article on this subject “Anger against Pakistan Govt sending Legal Notice to Twitter users beyond its territorial jurisdiction.”

Journalists boycotting the presence of Pakistan Foreign Minister and empty chairs greeting him, was not enough embarrassment for Pakistan. A noted Canadian Journalist Ezra Levant confronted Pakistan Foreign Minister and questioned him on Pakistan Government complaining to Twitter and getting tweets of Twitter users deleted on the pretext of allegedly violating Pakistan Law.

Canadian Journalist Ezra Levant confronted Pakistan Foreign Minister and questioned him on Pakistan Government complaining to Twitter and getting tweets of Twitter users deleted on the pretext of allegedly violating Pakistan Law. Video Source: Rebel Media
“You censored me Sir. I have a twitter account in Canada. Because I wrote something that violated some Pakistani blasphemy law, you complained to Twitter, which took down my tweet in Canada. So, can you explain why your Islamic supremacy in Pakistan, is silencing my personal and journalistic freedom in Canada? I know it happened in United States too.”

“You should be embarrassed to invite a censor like this,” Ezra Levant told the panel, asked Pakistan Foreign Minister, “Who the hell are you to censor me in Canada? Answer”

“You don’t like free speech”

Qureshi then proceeded to blather on claiming he was “being respectful” to Levant while completely failing to answer the question.

Qureshi openly lied and didn’t admit to the censorship by Pakistan Government.

“You censored me, shame on you,” Levant emphasized while Qureshi continued to act offended that he was being confronted on the issue, moreover, Qureshi abused noted journalist Ezra Levant “You have double standards. You forget you have double standards. What you call freedom at times you are projecting certain satirical agendas”

“You censorious thug!” asserted Levant while pointing at Qureshi.

Suppression of Free speech and Media Gag in Pakistan
Calling Pakistan Foreign Minister to a conference was a biggest blunder by the organizers overlooking the suppression of Media. Pakistan follows the policy of “shoot the messenger”. 61 journalists have been killed in Pakistan between 1992 and 2019. Their crime, they wrote against the Pakistan Government or Pakistan Army or Pakistan Intelligence Agency ISI.

On July 8, 2019, Military-backed #PEMRA took off-air three news channels namely 24News, AbbTak News and Capital News without any prior notice or giving them a hearing, for showing live speech of Maryam Nawaz. Journalism organizations announce country-wide protests in Pakistan in solidarity with Capital TV.

Earlier on June 12, 2019, A new order issued by Pakistan’s media regulatory PEMRA has advised media channels to not air “satirical content” that demeans politicians or individuals associated with law enforcement agencies.

PEMRA order to gag Media Houses suppressing Freedom of Speech
The “advice of airing satirical content” order issued by Pakistan Electronic Media Regulatory Authority (PEMRA) on June 12 has advised media houses to carefully select words and gestures while creating content or memes.

“Furthermore, an effective In-House Editorial Committee must also be constituted in order to ensure compliance of PEMRA laws which could sift unwarranted content,” the order declared.

Recently on 9th July, A journalist, Mureed Abbas working with a Pakistan News channel “Bol TV” was killed outside a local café in Khayaban-e-Bukhari area of Karachi.

Earlier, another Journalist Gorhar Wazir was abducted on May 29, 2019 and kept in detention in at a prison in Haripur District without any charges. He was released after a few days on May 31 . He was in North Waziristan while covering the incident and miseries of people after the Pakistan Army attacked the peaceful, non-violent, Gandhinian protesters during a rally of Pashtun Tahafuz Movement (PTM), and opened fire that killed over 21 civilians and injured over 100.

As per the Social Media users, it was very unfortunate and shameful for the meeting organizers to invite Pakistan during the “Defend Media Freedom” conference in London.

https://news-communique.com/index.p...ng-defend-media-freedom-conference-in-london/

 

[Butter Chicken]

Pakistan slapped with $6 billion penalty in Reko Diq case

ISLAMABAD: The International Center for Settlement of Investment Disputes (ICSID) has announced a massive $5.976 billion (Rs944.21 billion) award against Pakistan in the Reko Diq case, which is one of biggest in ICSID history.

The international tribunal on Friday issued a 700-page ruling against Pakistan in the Reko Diq case. Sources revealed to The Express Tribunethat ICSID awarded a $4.08 billion penalty and $1.87 billion in interest. However, Pakistan has decided to challenge the award “very soon” by filing a revision application, sources said. The revision application may take two to three years to decide.

 

[DMZ_dazzle]

https://www.dawn.com/news/1493832/t...st-govt-drive-to-document-commercial-activity

Traders observe nationwide strike to resist govt drive to document commercial activity

The call for the shutter-down strike was given by various traders' bodies around the country, who want the government to revoke documentation requirements introduced to better assess their tax liability and roll back taxes.

There are hundreds of trader associations in Pakistan, and millions of traders who participate in the retail sector. However, while some groups rallied hard around the strike call, there was no clarity about how big the scope of the strike actually was as the main chambers of commerce and industry, from Karachi to Lahore and other cities of Punjab, did not support the call.

Critics also said the strike is nothing more than an attempt by traders to blackmail the government into maintaining status quo and keeping the economy undocumented to avoid income taxes. On discussions on social media, citizens criticised the striking traders and accused them of evading their tax liabilities by refusing to let the government document their activities.
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:biggrin2:
LOLz don't want to pay taxes but want government to build them the infrastructure. 7th century mentality...

 

[Butter Chicken]

R&AW agent Niazi continuing his good work


Honda halts production in Pakistan, Indus to follow

LAHORE: Honda Atlas Cars Pakistan (HACP) shut down its plant for 10 days on Friday as its inventories piled up to 2,000 units on plummeting car sales amid rising prices due to imposition of new, higher taxes in the budget and steep currency devaluation in the recent weeks.

Similarly, Indus Motor Company (IMC), which produces Toyota models in Pakistan, has also decided to stop car production for eight days, two days every week, during this month, company sources told Dawn.

Honda had kept its plant closed for two days earlier last week. However, a Pakistan Suzuki Motor Company spokesman told Dawn the company will take decision whether or not to cut down production in the next few days after analysing sales trend and flow of booking orders during the present month.

 

[Brimstone]

Traders observe nationwide strike to resist govt drive to document commercial activity

I could be wrong but I heard that they survived the Pressler Amendment because of their undocumented economy.

 

[DMZ_dazzle]

I could be wrong but I heard that they survived the Pressler Amendment because of their undocumented economy.

Undocumented economy, halala money and their habit of whoring themselves to foreign powers keeps them alive. Dawoods Ibrahim is the Ratan Tata of Pakistan. :biggrin2:

 

[sorcerer]

Impoverished Pakistan Slapped With Whopping $5.9 Billion Penalty By ICSID


The International Center for Settlement of Investment Disputes (ICSID) has imposed a whopping penalty of $5.976 billion against Pakistan in its 700-page ruling. The ICSID awarded a $4.08 billion penalty and $1.87 billion in interest.
The International Centre for Settlement of Investment Disputes (ICSID) is an international arbitration institution to settle legal dispute resolution and conciliation between international investors. The ICSID is part of and funded by the World Bank Group and is an autonomous, institution.

Sources privy to the development claim that Pakistan has decided to challenge the decision before an international court by filing a revision application, sources said. Tethyan Copper Company’s (TCC) management had claimed $11.43 billion in damages.

The company filed claims for international arbitration before the ICSID in 2012 after the Balochistan government turned down a leasing request from the company.

The lawsuit between the government of Pakistan and the international company lasted for as many as seven years. The Supreme Court of Pakistan under its chief justice of Pakistan Iftikhar Chaudhry terminated the deal in 2013. The tribunal, earlier, held the view that Pakistan is mandated to pay damages for breach of contract.

https://eurasiantimes.com/impoverished-pakistan-slapped-with-whopping-5-9-billion-penalty-by-icsid/

 

[ezsasa]

Impoverished Pakistan Slapped With Whopping $5.9 Billion Penalty By ICSID


The International Center for Settlement of Investment Disputes (ICSID) has imposed a whopping penalty of $5.976 billion against Pakistan in its 700-page ruling. The ICSID awarded a $4.08 billion penalty and $1.87 billion in interest.
The International Centre for Settlement of Investment Disputes (ICSID) is an international arbitration institution to settle legal dispute resolution and conciliation between international investors. The ICSID is part of and funded by the World Bank Group and is an autonomous, institution.

Sources privy to the development claim that Pakistan has decided to challenge the decision before an international court by filing a revision application, sources said. Tethyan Copper Company’s (TCC) management had claimed $11.43 billion in damages.

The company filed claims for international arbitration before the ICSID in 2012 after the Balochistan government turned down a leasing request from the company.

The lawsuit between the government of Pakistan and the international company lasted for as many as seven years. The Supreme Court of Pakistan under its chief justice of Pakistan Iftikhar Chaudhry terminated the deal in 2013. The tribunal, earlier, held the view that Pakistan is mandated to pay damages for breach of contract.

https://eurasiantimes.com/impoverished-pakistan-slapped-with-whopping-5-9-billion-penalty-by-icsid/

Hamid mir be like

.....

 

[sorcerer]

Hamid mir be like

.....

pakistan is having a very very very bad time.
they are in debt.
they have to pay back the debts.
on top of it they are ensuring that they get enough penalty and fines with their antics.

For normal nations, when them are in debt they take very thoughtful steps..but pakistan... hahahaha...they just GALLOP into self humiliation and more debts and FUBAR that loss them the money

 

[shankyz]

Earlier Broadsheet, now Riko Deq, Pakistan being shamelessly slapped left and right !

Let's wait for Kulbhushan's verdict on 17th July.

 

[Mikesingh]

Impoverished Pakistan Slapped With Whopping $5.9 Billion Penalty By ICSID


The International Center for Settlement of Investment Disputes (ICSID) has imposed a whopping penalty of $5.976 billion against Pakistan in its 700-page ruling. The ICSID awarded a $4.08 billion penalty and $1.87 billion in interest.
The International Centre for Settlement of Investment Disputes (ICSID) is an international arbitration institution to settle legal dispute resolution and conciliation between international investors. The ICSID is part of and funded by the World Bank Group and is an autonomous, institution.

Sources privy to the development claim that Pakistan has decided to challenge the decision before an international court by filing a revision application, sources said. Tethyan Copper Company’s (TCC) management had claimed $11.43 billion in damages.

The company filed claims for international arbitration before the ICSID in 2012 after the Balochistan government turned down a leasing request from the company.

The lawsuit between the government of Pakistan and the international company lasted for as many as seven years. The Supreme Court of Pakistan under its chief justice of Pakistan Iftikhar Chaudhry terminated the deal in 2013. The tribunal, earlier, held the view that Pakistan is mandated to pay damages for breach of contract.

https://eurasiantimes.com/impoverished-pakistan-slapped-with-whopping-5-9-billion-penalty-by-icsid/

Does anyone really think that Pak will comply with the ICSID penalty imposed on them? Not a chance and no one can do a fig about it if the refuse to pay.

 

[Butter Chicken]

Does anyone really think that Pak will comply with the ICSID penalty imposed on them? Not a chance and no one can do a fig about it if the refuse to pay.

Foreign state-owned assets can be seized if Pakistan fails to pay(which is certain imo)

 

[MrPresident]

Foreign state-owned assets can be seized if Pakistan fails to pay(which is certain imo)

IF they have any assets [emoji14]

Sent from my Moto G (5) Plus using Tapatalk

 

[Deathstar]

Does anyone really think that Pak will comply with the ICSID penalty imposed on them? Not a chance and no one can do a fig about it if the refuse to pay.

No foreign company will invest in Pak then and their credit ratings will suffer , Pakis will probably negotiate the amount with the company

 

[Vijyes]

No foreign company will invest in Pak then and their credit ratings will suffer , Pakis will probably negotiate the amount with the company

Pakistan doesn't get any investment in the first place. Pakistan gets aid and loans.

 

[Absolut_Vodka]

Does anyone really think that Pak will comply with the ICSID penalty imposed on them? Not a chance and no one can do a fig about it if the refuse to pay.

It's world bank that imposed penalty.

https://icsid.worldbank.org/en/

 

[aarav]

Pakis just can't get a break it seems ,after so much money lobbying and Taliban talks they got IMF loan and now a $6 billion penalty which if pakis refused there assets outside of paki land will be confiscated ,there is a also a Turkish company $800 million case which paki lost but have again challanged in court and will lose most probably, so around $7 billion have to pay as penalties and 10s of billions of liabilities in form various loans ,pakis are truly screwed that's why in previous months you saw delusional niazi telling pakis of oil fields even larger than that of qatar ,this propaganda will continue until they go broke which isn't possible in this financial year