Pakistan Economy: News & Discussion

[Abdus Salem killed]

This morocco news paper thinks paki have capacity to create half a billion usd fund.

by the way it's 453000 USD fund.
======
Pakistan has established a Rs. 100 million 'Africa Fund' to support poor countries in Africa.




https://www.moroccoworldnews.com/20...-market-with-call-to-boost-trade-with-morocco

Morrocons hate indians

 

[Abdus Salem killed]

Morrocons hate indians

How did i find it out ?

أخبار الدفاع العربي

شؤون الدفاع والشأن العسكري العربي والعالمي

defense-arab.com

Arab Defense المنتدى العربي للدفاع والتسليح

كل ما يختص بعلوم الدفاع والشؤون العسكرية وانظمه التسليح والصفقات والمعارض العسكرية والتحاليل والدراسات العسكرية والجيوسياسية

defense-arab.com

God how i hate these fks

 

[Abdus Salem killed]

The entire fking twitter account is a fomedy

 

[Abdus Salem killed]

 

[Love Charger]

How did i find it out ?

أخبار الدفاع العربي

شؤون الدفاع والشأن العسكري العربي والعالمي

defense-arab.com

Arab Defense المنتدى العربي للدفاع والتسليح

كل ما يختص بعلوم الدفاع والشؤون العسكرية وانظمه التسليح والصفقات والمعارض العسكرية والتحاليل والدراسات العسكرية والجيوسياسية

defense-arab.com

God how i hate these fks

We don't even care , lulz
Who the fucks are these ? Morrroxns?
Famous for that traveller guy called ,ibn battuta and nora fatehi who is probably a christian.

 

[Abdus Salem killed]

We don't even care , lulz
Who the fucks are these ? Morrroxns?
Famous for that traveller guy called ,ibn battuta and nora fatehi who is probably a christian.

Still makes my blood boil that these islamic shitholes that got rich on oil have the gall to diss our industries

 

[The Juggernaut]

Still makes my blood boil that these islamic shitholes that got rich on oil have the gall to diss our industries

Sooner or later, we will be ruling middle east from Morocco to Iran. (in terms of influence) They have such opinions because there is no Arabic channel of communication. So, it is free real estate for propaganda against India in Arab world. But as we make progress on BRIC these things will change.

 

[Blademaster]

How did i find it out ?

أخبار الدفاع العربي

شؤون الدفاع والشأن العسكري العربي والعالمي

defense-arab.com

Arab Defense المنتدى العربي للدفاع والتسليح

كل ما يختص بعلوم الدفاع والشؤون العسكرية وانظمه التسليح والصفقات والمعارض العسكرية والتحاليل والدراسات العسكرية والجيوسياسية

defense-arab.com

God how i hate these fks

Pls provide translation. I do not want to give any further bandwidth to that website.

 

[Abdus Salem killed]

Pls provide translation. I do not want to give any further bandwidth to that website.

Already posted

 

[Blademaster]

Already posted

Where?

 

[shade]

Still makes my blood boil that these islamic shitholes that got rich on oil have the gall to diss our industries

Let them cry, what the fuck is Morocco anyway?
Besides that country is still ruled by a Sheikh or something, opinions of durka-durka plebs doesn't matter.

 

[Indx TechStyle]

Pakistan: the way forward?

The writer is a senior research fellow at the Institute of Development and Economic Alternatives, and an associate professor of economics at Lums.

MUCH seems to have changed in Pakistan in the last year or so. A lot more people are a lot more concerned about where we are and, more importantly, where we are headed — if we are indeed headed anywhere as a nation and country.

The political situation has changed greatly in the last year or so. The removal of a political government has contributed to the problem but that is not it. It is not clear when we are going to have elections or if we are going to have elections.

More importantly, even if we have elections, it is not clear if that will resolve the problems we are having on the political front. Will the elections be ‘managed’ as previous elections and their outcomes were ‘managed’? Despite claims to the contrary from the establishment, it is hard to believe that they will not. And if they are, and we get a government that, initially at least, is on the ‘same page’ as the establishment, will the page and the book not get lost in two to three years as has happened after almost every election in Pakistan? How will another cycle of the same help resolve the political uncertainty?

But, and this is the real issue, irrespective of whether elections are managed or not, if the underlying political and governance structure remains the same — and there is no hope of a change there, nor is there any movement on this front — the elections, apart from addressing the superficial and surface issues of determining the faces representing the deep state, will do nothing. This, more than anything else, seems to be the issue bothering a lot of people. We do not seem to have a way out of the political problems we are stuck in.

The bottom line with the issues on the economic front does not seem to be different either. Irrespective of which government has been in power or will be in power, the economic situation remains precarious.

Also read: Pakistan’s economy ‘expected to slow down’ amid global downturn

IMF deals, contracting more debt and rescheduling the existing debt can provide breathing space for a year or two, but the fundamentals of the economy remain weak and there does not seem to be a political party who is willing and/or capable of taking on these deeper issues. We have had boom-and-bust cycles for the few decades and the same mentality continues.

The PDM government is hoping to get some time before the elections so that the economy can show some recovery. The PTI wants to force an early election in a bid to ensure a stronger showing. But irrespective of when the elections take place, will the economic situation be any different if one or the other party takes over? The clear answer is no.

We do not seem to have a way out of the political problems we are stuck in.

Our economic problems are much bigger and require very deep structural reforms. None of the political parties seem to have the political capital, the competence or the ability to even think through these reforms far less attempt them. And when the polity is deeply divided and when society is as intolerant and violent as ours has become, no political party wanting to stay in the game of electoral politics will dare to attempt deeper reforms. But short of such reforms, the economic situation is not going to change. The future, from an economic perspective, looks bleak too.

The people are hurting. The inflation of the past year or two has been the proverbial straw that has broken their back. The increase in fuel costs and energy bills was just the tip of the iceberg. The increase in the cost of food items and other essentials has been significant as well. Salaries have, for most people, not kept pace with inflation, and even middle-income groups households are seriously hurting. And the pressure is not abating.

There are no effective safety nets for most citizens in the country. BISP-like programmes give a rudimentary cover to the very poor but all other citizens are very vulnerable. The state does not even provide decent health and education services to citizens.

Add to all this Pakistan’s vulnerability to climate change and the situation seems hopeless. This year’s floods were not a freak event. In the next few years, we can expect similar events to take place.

Their level of ferocity might be even higher. Our infrastructure cannot withstand the pressure. If our agriculture continues to be impacted the way it was this year, Pakistan’s economy would become very, very hard to manage, if at all it can be managed. And food security would be compromised as well.

The current government and the prime minister, even in the wake of this year’s floods, said that the government cannot manage the rehabilitation and reconstruction process on its own. If such events occur in the future, what will we do? How will we survive? Will it matter which government is in power and whether or not the ‘establishment’ or the ‘deep state’ and the government are on the same page?

I have not even talked of the challenge of terrorism and the increasing religious and political intolerance in the country and how that is going to impact our lives in the coming years.

Where do we go from here? This is the real question. And a lot of citizens are asking it. For some, the solution might be the election of one saviour or the other, but for many others, another round of saviours does not seem to provide a way out and does not give any comfort.

Will this situation make the ‘establishment’ understand the writing on the wall if they do not open pathways for deeper reforms? Will the situation create an environment conducive to the rise of a new movement or party that will spearhead change? Both scenarios seem unlikely and this is what makes the situation even more dire and discouraging.

 

[shade]

Pakistan: the way forward?

The writer is a senior research fellow at the Institute of Development and Economic Alternatives, and an associate professor of economics at Lums.

MUCH seems to have changed in Pakistan in the last year or so. A lot more people are a lot more concerned about where we are and, more importantly, where we are headed — if we are indeed headed anywhere as a nation and country.

Also read: Pakistan’s economy ‘expected to slow down’ amid global downturn

inb4 this guy also gets shot "accidentally"

 

[ezsasa]

How come al-jazeera is reporting as if flood waters haven't receded in pakiland?
do flood waters stay that long a month after the rains?

 

[shade]

How come al-jazeera is reporting as if flood waters haven't receded in pakiland?
do flood waters stay that long a month after the rains?

They play the media manager for Talibanistanis and Pakis, months back it was all sob stories about starving Afghans having to sell kidneys to feed their pillas, now it's amphibious Pakis, it's meant to break the heart and open the purse-strings of relevant Gora aid organizations for Af-Pak.
I wonder what price the Qatari extracts though for rendering these services.

 

[dfcool]

I wonder what price the Qatari extracts though for rendering these services.

all they ever wanted: more M population, a living paki is useful than dead paki.

They are swimming in money thanks to gas, oil reserves. qatar dont even collect tax from salaried people.

Its a rotten apple which looks bright outside with football sponsorship, airlines.

It has strongest lobby in US, after china. for example anti-jew propaganda in US is funded by its money. It funds M refugees into europe through turkey. It is more threat than turkey wrt to india.

 

[shade]

all they ever wanted: more M population, a living paki is useful than dead paki.

They are swimming in money thanks to gas, oil reserves. qatar dont even collect tax from salaried people.

Its a rotten apple which looks bright outside with football sponsorship, airlines.

It has strongest lobby in US, after china. for example anti-jew propaganda in US is funded by its money. It funds M refugees into europe through turkey. It is more threat than turkey wrt to india.

They are allied with Turki against Saudiya and it's friends like UAE, all started with the one blockade Saudiya did on Qatar.
Earlier the whole Persian Gulf area Arab Kingdoms were one happy Salafi family.

Turki threathens the Gooropeans about releasing the "refugees" into Europe if they don't meet Turkish demands.
It's another thing like Istanbul is filled with Syrian rebugees now that the native Turks hate, combined with inflation rising there, Erdogandus days are numbered, Turki awaam don't entirely buy UMMAH CHUMMAH.

 

[The Juggernaut]

 

[Indx TechStyle]

LOL
Is it possible for Pakistan to shift to an interest-free banking system?
Pakistan will implement the decision of the Federal Shariat Court (FSC) to rid the country of an interest-based banking system, Finance Minister Ishaq Dar said on Wednesday, but many are questioning whether it will be possible to do it at all.

Pakistan will implement the decision of the Federal Shariat Court (FSC) to rid the country of an interest-based banking system, Finance Minister Ishaq Dar said on Wednesday, but many are questioning whether it will be possible to do it at all.

The FSC was established in Pakistan in 1980 under the reign of military dictator Ziaul Haq and is responsible “to examine and decide the question whether or not any law or provision of law is repugnant to the injunctions of Islam”.

The court ruling prohibiting interest came earlier this year in April, giving the government up until Dec 31, 2027 to eliminate Riba, the Islamic term for interest, from the country’s banking system.

The court also ruled that any interest on government borrowings, whether from domestic or foreign sources, also fell under the definition of Riba and was prohibited under Islamic law.

Following the court ruling, Pakistan’s central bank as well as the largest state-owned bank — National Bank of Pakistan — and three commercial banks challenged the decision in the Supreme Court.

But the finance minister said both the central bank and the NBP would be withdrawing their appeals from the apex court, as he vowed to implement the decision of the shariat court and rid the country of interest as soon as possible.

Borrowing or lending money on a predetermined interest rate (Riba) is prohibited in Islam. Over the past few decades, several banks have popped up in the the Islamic world, offering completely sharia-compliant services while conventional banks have introduced interest-free products and instruments to comply with Islamic law.

In Pakistan specifically, Islamic banking resurged considerably in the early 2000s, with the launch of the country’s first completely Islamic bank — Meezan Bank. With several banks now operating Islamic banking subsidiaries, this alternative has a sizeable 20 per cent share in the banking industry.

Despite this growth, some analysts believe the latest announcement by the government to shift completely to an interest-free system may just be political rhetoric to please the religious vote bank because there are underlying structural problems that need to be addressed in order to implement a new system.

The finance minister himself conceded it was not an “overnight” job, saying numerous challenges had to be overcome to achieve this target.

No more IMF programmes?

As far as Pakistan’s existing international obligations are concerned, Raza Jafri, banking analyst at Intermarket Securities, said a complete shift to an interest-free system would not impact them.

“The court decision clarified that Pakistan is bound to honour existing international financial commitments, even if they are non sharia-compliant, but that future borrowing should be through compliant modes,” he said.

But he added that it was unclear if this restriction extended to external borrowing where sharia-compliant alternatives did not exist.

For instance, if the ruling is to be fully implemented, can Pakistan opt into an International Monetary Fund (IMF) programme? “For this the government could ask for more clarity,” he said.

But until that clarity is there, it appears that external borrowing would have to be sharia-compliant as well, which means no more IMF bailouts as we know them.

Jawad Shamim, portfolio manager at Alfalah Investment, said the government could borrow internationally through issuing sharia-compliant bonds, as it has already done in the past, but noted that question marks remained on whether bilateral or multilateral borrowing through friendly countries or financial institutions was possible under this system.

The major problem

Both Jafri and Shamim said domestic banks were well placed to eventually fully convert but were skeptical about the five-year deadline. “It has been more than five years since Faysal Bank, a mid-sized bank, is trying to fully convert to Islamic banking. So it would take much longer for larger conventional banks,” Jafri said.

He said more research and studies were needed to plan how a shift to an interest-free system would pan out, pointing out that the government was the biggest borrower from local banks, which posed a challenge in itself.

That’s because of all domestic government debt, only around 5pc was accounted for by Sukuks — a sharia-compliant system of borrowing that gives the lender partial ownership of an asset owned by the borrower till repayment of the loan.

“For a complete conversion, what underlying assets would the government borrow against?” he questioned. “Are there enough state-owned enterprises? Are they going to pledge the country’s highways, toll plazas and airports?”

Jafri also said that while the government had decided that the State Bank and the NBP would withdraw their appeals against the ruling, it was not clear whether the commercial banks that had challenged the decision would do the same.

Former Citigroup banker Yousuf Nazar said the government’s decision to withdraw appeals against the shariat court ruling was a move to “appease the religious lobby”.

He insisted that the minister’s statement would change nothing. “Interest free banking does not exist, it is just a slogan. It is not possible.”

Najam Ali, CEO of Next Capital, also wrote on Twitter that a complete shift to interest-free banking would mean that the government “will only be able to issue Sukuks which require an underlying asset. It will become increasingly difficult to pledge such assets given the government’s appetite for borrowing to finance fiscal deficit.”

 

[Bharatiya]

It's the Economy, stupid.

What we need to make Pakistan's asymmetric warfare irrelevant, Kashmir a foregone conclusion and Terroristan's very existence a question is the same. Economy. Economy. Economy.

Forget everything and just focus on rapid sustainable growth. The global economy is in trouble but I strongly hope India can touch double digit growth. It'll be the ultimate game changer and will bring us to another level.

Pakistan 2021 GDP in pkr was around 6 Trillion. In USD, it was around $346 Billion. Now, assuming a low growth due to floods & due to currency devaluation, Pakistan's GDP in 2022 would only be around $280 Billion.

That's right, $280 Billion from $350 Billion!

Pakistan's economy for the foreseeable future, at least for the next 5 years is going to be in a limbo. It'd have to work hard just to get back to $350 Billion.

Now, if India grows at 7% every year—and I certainly hope we do more than that, then yearly addition to India's GDP would be:

2023	$245 Billion
2024	$262 Billion
2025	$280 Billion
2026	$300 Billion
2027	$320 Billion

See what's happening? India's GDP addition would itself be equal to Pakistan's entire GDP!

And if we sustain the high growth rate, by 2030, Pakistan would have to be at around $400 Billion to equal our net growth.

Why is this important? The differential b/w India-Pakistan would widen greatly.

Year	India	Pakistan	Differential
2012	1.83	224	8.16X
2014	2.04	244	8.36X
2019	2.83	320	8.84X
2021	3.17	346	9.16X
2022	3.46	280	12.35X
2027	5	360 (Best case)	13.88X
2027	5	300 (Normal growth)	16.66X
2027	5	250 (Post Bankruptcy)	20X

India is expected to change base year after 2024 General Elections. It'll bump our GDP figures.

I think we'll reach an inflection point when we hit the difference of double per capita, 20X GDP.

Pakistanis can hate Indians who are within Reach. Just 50% higher GDP per capita than them. But when the difference widens to 2X, 3X, 5X, the hate vanishes and only yearning and inferiority will remain.

In 2021, the differential between China & Pakistan is 50X! When India reaches 25X, Pakistanis will have a rude awakening.

We're at an inflection point in history and geopolitics! This decade will change the world forever! May we do our personal best for ourselves and for our country! Jai Hind!