Pakistan to receive $510 million aid tranche from IMF

[Yodha]

Pakistan to receive $510 million aid tranche from IMF








@Prasanna kumar @Ancient Indian @Kshatriya87 @Bahamut @thethinker

Economic aid my ass. Their begging has worked. See this is why we should not trust yanks. World bank and ADB are next in the line. I said that yanks are snakes in another thread man. That is a solid truth. No matter how you behave with them, they are going to bite you some day.

Chalo rehney do, pakis ko aish karne do. Vaisey bi 8 f-solah se kuch nahi honey vala hain.

Sent from my XT1022 using Tapatalk

 

[Navnit Kundu]

Told you so.

Anyway, can you merge this with the main thread of F16? or idiotic musings of Pakistan thread? or create a separate thread for idiotic musings of US-Pakistan relations? I hope we can create a single thread where all these news updates can be complied so that someone reading them a year later can get all the information in one place. Creating new threads for a single news report risks getting lost in the clutter.

Chalo rehney do, pakis ko aish karne do. Vaisey bi 8 f-solah se kuch nahi honey vala hain.

I think we should go for 'INS Mehran Part 2', instead of just accepting our fate, otherwise people will keep transgressing our concerns with impunity.

 

[Mikesingh]

Pakistan's debt situation is worse when we look at the figures of Pakistan's foreign debt, which is galloping with horrific speed and has almost touched new heights. There seems no way out for the successive governments to get rid of this vicious circle but to persistently borrow more loans to meet their previous debt obligations.

In short the Pakis are borrowing more from external agencies like the IMF to service their debts which would soon result in a vicious debt cycle - borrow more not for development but only to service past debt.

The strict conditions of the IMF attached to the three-year EFF program include:

Budget cuts to lower the fiscal deficit from 8.8 percent of gross domestic product (GDP) to 6.3 percent.

Subsidies cuts. One immediate target of subsidy cuts is electricity. The government agreed to a 30 percent increase in electricity prices for domestic users. Gas prices are also being rationalized, with a new levy.

Currency depreciation. The Pak Rupee will be devalued an average of 110 rupees to the US dollar. On account of which the volume of foreign debt has increased in one go.

Privatization: Speeding the restructuring and privatization of state-run enterprises. The government will select 30 public firms for privatization, beyond the 35 that have already been chosen. About 1.2 million jobs are expected to cut down as result of privatization plan.

(However, Pakistan has shelved plans to privatize power firms, but yet the IMF has approved this new loan!)

Increase in taxes. The IMF has also demanded a significant increase in tax revenues from current levels of 9.7 percent of GDP to 15 percent by 2018. In July 2013, sales tax on imported and domestic second-hand clothes, largely consumed by the poor, was more than doubled from 2% to 5%.

However, the rich and the famous of Pakistan do not pay taxes! The under-taxation of the wealthy elite, including politically powerful rural landlords, is something that IMF conditions have not addressed. The country collects less in taxes as a percentage of its economy than almost any other country of its size.

Tough times ahead for the ordinary Pakistani! But the elite will continue to milk the system to ruin!

 

[Yodha]

Pakistan's debt situation is worse when we look at the figures of Pakistan's foreign debt, which is galloping with horrific speed and has almost touched new heights. There seems no way out for the successive governments to get rid of this vicious circle but to persistently borrow more loans to meet their previous debt obligations.

In short the Pakis are borrowing more from external agencies like the IMF to service their debts which would soon result in a vicious debt cycle - borrow more not for development but only to service past debt.

The strict conditions of the IMF attached to the three-year EFF program include:

Budget cuts to lower the fiscal deficit from 8.8 percent of gross domestic product (GDP) to 6.3 percent.

Subsidies cuts. One immediate target of subsidy cuts is electricity. The government agreed to a 30 percent increase in electricity prices for domestic users. Gas prices are also being rationalized, with a new levy.

Currency depreciation. The Pak Rupee will be devalued an average of 110 rupees to the US dollar. On account of which the volume of foreign debt has increased in one go.

Privatization: Speeding the restructuring and privatization of state-run enterprises. The government will select 30 public firms for privatization, beyond the 35 that have already been chosen. About 1.2 million jobs are expected to cut down as result of privatization plan.

(However, Pakistan has shelved plans to privatize power firms, but yet the IMF has approved this new loan!)

Increase in taxes. The IMF has also demanded a significant increase in tax revenues from current levels of 9.7 percent of GDP to 15 percent by 2018. In July 2013, sales tax on imported and domestic second-hand clothes, largely consumed by the poor, was more than doubled from 2% to 5%.

However, the rich and the famous of Pakistan do not pay taxes! The under-taxation of the wealthy elite, including politically powerful rural landlords, is something that IMF conditions have not addressed. The country collects less in taxes as a percentage of its economy than almost any other country of its size.

Tough times ahead for the ordinary Pakistani! But the elite will continue to milk the system to ruin!

We may find benevolent Pakis who may say that their government cares about the public, that's why it collects less taxes. But they don't understand the importance of paying taxes(only if reasonable). Wait for a few months to hear about Pakistan getting loan from ADB too. And then WB.

Sent from my XT1022 using Tapatalk

 

[tsunami]

China and Pakistan join hands to block India's entry into Nuclear Suppliers Group

WASHINGTON: China andPakistan are closely coordinating moves to block India's entry into the NuclearSuppliers Group (NSG).

Beijing is using Pakistan's non-starter position with the NSG to block India's application in the name of parity, stating that it would either support NSG entry for both India and Pakistan, or none of them.

Talking about the China - Pakistan grand strategy to stall India's admission into the NSG , well placed US sources who work with the NSG said that from all counts it does appear that China and Pakistan are coordinating closely to stop the Indian entry.

The sources pointed to the fact that when India sought an information session with the NSG Participating Governments (PGs) at the recent NSG Consultative Group meeting on April 25 and 26, where it would have made a formal presentation to the NSG Group in support of its membership, Pakistan requested for a similar discussion slot with the NSG PGs.

Sources said that even though Pakistan was fully aware that its request would be rejected, it made its application at the cue of China, in order for Beijing to look even-handed when it sought the rejection of both requests on grounds of parity.

Providing an insight into the China-Pakistan plan to stall India, sources say that Pakistan is now going to write to all the NSG PGs about its wish to join the group. This is being done in anticipation of an application by India for NSG membership at the forthcoming plenary session of the group in June.

The Pakistani application, added sources, is "just a decoy" for China to reject both applications on grounds of parity. China knows that Pakistan does not stand a chance at the NSG, and most of the states will reject Islamabad's application.

By taking the lead in rejecting the Pakistani application along with that of India, China would like to project its position as "neutral" when in reality it is "working in tandem with Pakistan to stall India's application ".

US sources are disappointed with the Chinese tactics of "using Pakistan's non credentials with the NSG to settle scores with India". Informed sources say that this strategy is not a secret and during Pakistan President Mamnoon Hussain's visit to China in November 2015, China revealed its hand when it told President Hussain that if India is allowed to get NSG membership, China would ensure that Pakistan also joins the group.

The Chinese government told President Hussain that "if India is allowed to join the NSG and Pakistan is deprived of NSG membership, Beijing will veto the move and block the Indian entry".

Sources maintain that true to its word, China is following a plan that will enable it to use Pakistan's non-acceptance at the NSG to block India's acceptance. "It is both or none" is the Chinese plan to derail the Indian application, say sources.

Chinese officials at the NSG level have been using the Pakistan card to stop India's entry into it while appearing to be even handed in China's relations with India.

Well informed sources also point to comments made by Pakistan's former permanent representative to the United Nations Zamir Akram who virtually admitted the grand China - Pakistan plan to stall India's entry into the NSG when, he said, that India will not make it to the NSG despite US support since China was committed to both India and Pakistan joining the NSG at the same time, and would block any move for a unilateral admission of India.

He added that chances of India gaining entry into the NSG are virtually nil. The former senior Pakistani official also made it known that Islamabad has "friends at the NSG" who won't let India enter the group.

US sources have seen through China's game of "either both or none" in the NSG. They say that India's non-proliferation credentials can never be compared with Pakistan's, as Pakistan has a history of "selling Nuclear technology to rogue states like Libya". They point to the father of Pakistan's nuclear bomb, Dr A.Q. Khan, and his global nuclear trade.

Added to this history, is the fear in the West that Pakistan's nuclear weapons, especially the tactical version that it is now in the process of developing, can easily find their way into the hands of terrorists, as Pakistan's nuclear command is extremely vulnerable to penetration by Islamic hardliners.

http://timesofindia.indiatimes.com/...lear-Suppliers-Group/articleshow/52243719.cms

 

[Mikesingh]

China is always beating India with a stick in every forum and we take it lying down like a fookin' banana republic. We don't have the balls to cock a snook at China. They recently 'ordered' India to withdraw the visa given to a Uighur dissident from China and we meekly bowed to their diktats.

We need to grow a bloody spine! We need to pay back the Chinese dime for dime.

And I thought Modi had a 56 inch chest........But....

 

[Indx TechStyle]

They recently 'ordered' India to withdraw the visa given to a Uighur dissident from China and we meekly bowed to their diktats.

It was not done by China. India to had to follow international protocol.
India withdrew visa to obey protocol not China.

Question: India surely knew it before that it can't issue visa to Uyghurs because of protocol. So, why it created a gloom?


Answer: Probably wanted to irritate China. So, spread rumours even after realizing the fact before.

 

[ezsasa]

China is always beating India with a stick in every forum and we take it lying down like a fookin' banana republic. We don't have the balls to cock a snook at China. They recently 'ordered' India to withdraw the visa given to a Uighur dissident from China and we meekly bowed to their diktats.

We need to grow a bloody spine! We need to pay back the Chinese dime for dime.

And I thought Modi had a 56 inch chest........But....

As far as that Uighur controversy is concerned, one or two visa rejected but ten others were allowed.

 

[Flame Thrower]

The strict conditions of the IMF attached to the three-year EFF program include:

Budget cuts to lower the fiscal deficit from 8.8 percent of gross domestic product (GDP) to 6.3 percent.

Subsidies cuts. One immediate target of subsidy cuts is electricity. The government agreed to a 30 percent increase in electricity prices for domestic users. Gas prices are also being rationalized, with a new levy.

Currency depreciation. The Pak Rupee will be devalued an average of 110 rupees to the US dollar. On account of which the volume of foreign debt has increased in one go.

Privatization: Speeding the restructuring and privatization of state-run enterprises. The government will select 30 public firms for privatization, beyond the 35 that have already been chosen. About 1.2 million jobs are expected to cut down as result of privatization plan.

(However, Pakistan has shelved plans to privatize power firms, but yet the IMF has approved this new loan!)

Increase in taxes. The IMF has also demanded a significant increase in tax revenues from current levels of 9.7 percent of GDP to 15 percent by 2018. In July 2013, sales tax on imported and domestic second-hand clothes, largely consumed by the poor, was more than doubled from 2 to 5%.

Tough times ahead for the ordinary Pakistani! But the elite will continue to milk the system to ruin!

I think ( may be I am wrong ) this is what GOI wants.....

Reason: I believe, if you want to screw a country, then screw its economy....

America want to give Pak 8 F-16s @ $ 700 million. (America gets trade worth of $ 700 million)

Pak has no money, so America came up with $ 470 million FMF and Pak to pay rest $ 270 million.

Now India gets into picture abd says Pak is a bad boy and you can't give 8 F-16's.....

After a long discussion, America comes into picture and says Congress is not ok with FMF, but you can buy 8 F-16's @ 700 million(at first i felt someting is wrong)

Now Pak says hamare pass paise nahi hai, ham kahi see fighter bheek mangenge(as expected).....

America lets this drama run for over a week. And IMF comes to save the day i.e.,$ 510 million with conditions.(my fav part)

Conditions are stated above in quote, please read them before reading the rest. I thank Mike for Info....

http://www.tradingeconomics.com/pakistan/external-debt

The above link shows paki debt till Jan i.e., $68,550 million dollar

Today's 1$ = 104.7 paki rupee...

After the deal the 1$ = 110 paki rupee. In other words Paki debt increases in terms of Paki rupee

with current debt as of Jan 16 the Paki debt in paki rupee goes up by 41130 crore Paki rupee.

Now imagine what happens when 1.2 million people loose jobs.....

economy gets screwed, fuckedup, GANG RAPED (will include the factors who fuck up and its consequences)

Power charges hike 30%, it has very bad effect on Factories, i.e., small and medium scale industries, which result in atleast 10% of the product cost or product quality will drastically reduce with some cost increase(may result in job cuts also)...

All the effect on household is very huge, because of high prices and the quality of living goes way below standards. Which inturn results in

1. Begging China for more money, in return cruel behavior on Baloch, Increased stupidity on Indian border side.....
2. People going to school decreases, Conspiracy stories get more value, no of Keyboard warriors increase(economy screwed).
3. Fall of HDI, GDP percapita etc into new depths...
4. No more money to run and sponsor Kashmiri terrorism. POK gets to know how their lifestyle reduces when compared to Indian Kashmiri people(kashmiri floods was a great example)
5. Increase of Jihadi stupidity and ISIS gets a new breading ground(this is what I fear most)
   1. http://www.pewresearch.org/fact-tan...ant-muslim-populations-much-disdain-for-isis/
   2. According to the above link as of 27 Nov 9% of Pakis support ISIS, somewhere in DFI I read the numer hit 28% by April(sorry couldn't find link, will provide later, or I will be thankful who provide link on behalf of me.)

In short Paki fuckup just acclerated(just for 8 F-16's).......Man look at this country i.e., ready to get fuckedup just for 8 F-16's. Need to know more before I can talk on 10 more F-16's.

This is not the first time for Pakis to get fucked up but this is more silly........

I think this is an Intelligence Agency trick on Pak.

It is a win win situation for everyone except for Paki people...

1. US gets $ 700 mil
2. PAF gets 8 F-16's which hardly matter and that also only incase of war.
3. India gets to Watch Pak destroy its economy.
4. Pak begs China even more( not sure how much China gives back) but China feels as Pakis leaning more towards them.

Note: The above is just my assumption and personal opinion only. If you want, take it with a bag of salt. But if someone feels my logic is wrong, please correct me or mail it to [email protected]

 

[Mikesingh]

4. Pak begs China even more( not sure how much China gives back) but China feels as Pakis leaning more towards them.

China bailing out Pakistan is impossible at the present juncture. They have shown the middle finger to the Pakis the last time they begged the Chinese for money, forcing them to kiss the IMF's ass instead!

But they're sinking their economy by investing heavily in their useless nuke program which is as impotent as a lecher without a prick! They'll soon be eating grass as per what ZA Bhutto had once said!

 

[Chinmoy]

Pakistan to receive $510 million aid tranche from IMF








@Prasanna kumar @Ancient Indian @Kshatriya87 @Bahamut @thethinker

What about the rest $190 million???

 

[Indx TechStyle]

What about the rest $190 million???

Voh bhi kahin se mil jayegi.
:biggrin2:
China or they will use US Aid in black.
Plus
Pakistan has warned US to beg buy fighters from elsewhere.
Few dollars can be given if that country doesn't offer in free.

 

[curryman]

Economic aid my ass. Their begging has worked. See this is why we should not trust yanks. World bank and ADB are next in the line. I said that yanks are snakes in another thread man. That is a solid truth. No matter how you behave with them, they are going to bite you some day.

What a way to make a country dependent on another just to control them, like giving drugs to a drug addict, knowing full well they will never pose a threat to you. And if they do...well, no more drugs for you.

Hell, didn't India join AIIB? Where do you think some of the money is going to go? China's client Pakistan. If India is keen on not giving Pakistan any of itsmoney it should withdraw from AIIB, IMF, WB.

 

[3deffect]

well now pakistan will buy f16 and pak think now everything is balance in asia:biggrin2::biggrin2::biggrin2::biggrin2::biggrin2: