Pakistani Economic Stress Watch

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Re: Pakistani Economic Stress Watch

Postby Deans » 20 Mar 2019 20:17

Mort Walker wrote:In 3 months, 1 USD = 150 PKR
In 6 months, 1 USD = 180 PKR

Couple currency devaluation with inflation, then it's going to be real fun like Venezuela or Zimbabwe.


In the Madrasa economic thinking of Pakistan, they have agreed to pay Saudi & UAE a year later for the oil they import. The payment is in dollars, so they effectively pay 20% more in Rupees for that oil- which is what Abdul will be charged at the fuel station.

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Re: Pakistani Economic Stress Watch

Postby Atmavik » 20 Mar 2019 20:43

Mort Walker wrote:In 3 months, 1 USD = 150 PKR
In 6 months, 1 USD = 180 PKR

Couple currency devaluation with inflation, then it's going to be real fun like Venezuela or Zimbabwe.


Pkr growth graph looks like steps so I expect moderate growth followed by a steep jump. The reason for such behavior is a mix of Sialkot statistics and encheede

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Re: Pakistani Economic Stress Watch

Postby Mort Walker » 20 Mar 2019 21:01

Deans wrote:
Mort Walker wrote:In 3 months, 1 USD = 150 PKR
In 6 months, 1 USD = 180 PKR

Couple currency devaluation with inflation, then it's going to be real fun like Venezuela or Zimbabwe.


In the Madrasa economic thinking of Pakistan, they have agreed to pay Saudi & UAE a year later for the oil they import. The payment is in dollars, so they effectively pay 20% more in Rupees for that oil- which is what Abdul will be charged at the fuel station.


TSP expects Saudi and UAE to write off the oil and not pay them cash and exchange WMD materials via Cheen. Neither will be happy and be careful about future loans and demand payment upfront. If IA keeps up pressure, then TSP demise can be hastened.

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Re: Pakistani Economic Stress Watch

Postby Suraj » 20 Mar 2019 23:09

You've heard of how countries peg their currency to the US dollar ? TSP pegs their GDP growth rate to Indian reported GDP growth rate. If India reported it grew 8% then they report they grew within X% of that, regardless of what rate they actually grew at.

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Re: Pakistani Economic Stress Watch

Postby Karan M » 20 Mar 2019 23:27

yensoy wrote:We are helping them in their economic death spiral by keeping the LoC super hot; while at the same time not publicizing our victories because the last thing we want is for pakis to go crying to unkil, iron brother or four fathers for funds for defence. Let them keep their H&D intact and bleed their treasury to restock.


Well said I just hope some idiot babu doesn't sabotage the process yakking about Ghalib and his love of kebabs or whatever. For once we are putting the pressure on, in a sustained process.

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Re: Pakistani Economic Stress Watch

Postby Karan M » 20 Mar 2019 23:34

Hat tip to Rakesh for getting this the views. Just look at the cityscape here:

Peshawar, note literally no wimmen on the streets



Pride and joy, Kraaachi



Their development resembles the ghetto in some ill-planned indian city from the 80's..and seems to be firmly stuck there. Even our ghettos have modern parts. The rest of the Indian cityscape is simply missing. Forget about large business parks dotted every which where. Very few if any large scale Mfg industries on the outskirts manufacturing state of the art stuff for export or huge local consumption. No large glitzy areas @ the scale in Indian cities.. No huge sets of skyscraper apartments for the middle class... the list goes on and on..

These Pakistanis are basically incapable of running a state. Illiterate AK-wielding AoA types, or hapless "take my son for jihad" faithfools, or feudal/military types behind high walls enjoying scarce resources.

This is just one giant camp of dunces who can't learn things, make things or do anything useful. They exist to sponge off other civilizations.



Scrounge a harsh life in the west as a cab driver, use up all the money not for kids education or moving up the totem pole yourself.. send it to Pakistan to show off by building a mansion which nobody lives in.

If anything describes the empty Pakjabi mentality, built around a fake showoff culture, it is this.

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Re: Pakistani Economic Stress Watch

Postby Raveen » 20 Mar 2019 23:46

Suraj wrote:You've heard of how countries peg their currency to the US dollar ? TSP pegs their GDP growth rate to Indian reported GDP growth rate. If India reported it grew 8% then they report they grew within X% of that, regardless of what rate they actually grew at.


:rotfl:

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Re: Pakistani Economic Stress Watch

Postby sudeepj » 21 Mar 2019 00:02

Suraj wrote:You've heard of how countries peg their currency to the US dollar ? TSP pegs their GDP growth rate to Indian reported GDP growth rate. If India reported it grew 8% then they report they grew within X% of that, regardless of what rate they actually grew at.


I would love to understand how Pakistan calculates its GDP growth rate. I suspect that they do not have the institutions needed to do so. Calculating the GDP growth of a large economy is an extremely difficult task and is an art rather than a science or an accounting exercise. Even in India, there are constant 'improvements' to the process. E.g. up until recently, the GDP increase for a production unit of a car, was the same for all cars. So if a Maruti 800 was made, or a BMW, the net addition to GDP (for purposes of calculating growth GDP by the finance ministry) used to be the same! For Pakistan, I think they just have some 'models' and growth can be tinkered with based on demand by the current powers that be.

E.g. Take a look at the electricity consumption in India, Bangladesh and Pakistan.. In countries experiencing decent growth rates such as India and Bangladesh, electricity consumption has seen rapid growth, doubling in both India and Bangladesh over the last decade. On the other hand, per capita electricity consumption has remained at the same level in Pakistan since 2007! An entire decade+ with no growth! This indicates that GDP has grown only at the rate of population growth, and that this growth has been in things like sweeping the streets, doing tael maalish etc. I.e. naam ke vaastay GDP growth.

Image

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Re: Pakistani Economic Stress Watch

Postby Raveen » 21 Mar 2019 00:28

sudeepj wrote:
Suraj wrote:You've heard of how countries peg their currency to the US dollar ? TSP pegs their GDP growth rate to Indian reported GDP growth rate. If India reported it grew 8% then they report they grew within X% of that, regardless of what rate they actually grew at.


I would love to understand how Pakistan calculates its GDP growth rate. I suspect that they do not have the institutions needed to do so. Calculating the GDP growth of a large economy is an extremely difficult task and is an art rather than a science or an accounting exercise. Even in India, there are constant 'improvements' to the process. E.g. up until recently, the GDP increase for a production unit of a car, was the same for all cars. So if a Maruti 800 was made, or a BMW, the net addition to GDP (for purposes of calculating growth GDP by the finance ministry) used to be the same! For Pakistan, I think they just have some 'models' and growth can be tinkered with based on demand by the current powers that be.

E.g. Take a look at the electricity consumption in India, Bangladesh and Pakistan.. In countries experiencing decent growth rates such as India and Bangladesh, electricity consumption has seen rapid growth, doubling in both India and Bangladesh over the last decade. On the other hand, per capita electricity consumption has remained at the same level in Pakistan since 2007! An entire decade+ with no growth! This indicates that GDP has grown only at the rate of population growth, and that this growth has been in things like sweeping the streets, doing tael maalish etc. I.e. naam ke vaastay GDP growth.

Image



That's partly because they have no electricity - you can't increase consumption without the supply present to satisfy it

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Re: Pakistani Economic Stress Watch

Postby Suraj » 21 Mar 2019 01:17

TSP has essential a pre-industrial economy, as I've posted before here.

Coal production: Approx 3-5MT per year
India was 433MT between April-Nov 2018, i.e. an annualized ~650MT

Steel production: Approx 3-4MT per year
India was 107MT in 2018, overtaking Japan.

Electricity installed capacity: 21GW
India had 350GW as of last year, and adds around 7-10% a year, more than the entire TSP installed capacity.

These stats don't show anything to suggest there's a substantial industrial base in the country. They're a pre-industrial society with an agrarian and services based economy.

I posted corresponding stats four years ago while saying the same thing, and very little has changed since. Meanwhile, India went from 84MT to 107MT steel output, 260GW to 340GW electricity installed capacity, and huge increases in coal output as well.
Last edited by Suraj on 21 Mar 2019 02:03, edited 1 time in total.
Reason: MW->GW in one place

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Re: Pakistani Economic Stress Watch

Postby Raveen » 21 Mar 2019 01:53

Suraj wrote:TSP has essential a pre-industrial economy, as I've posted before here.

Coal production: Approx 3-5MT per year
India was 433MT between April-Nov 2018, i.e. an annualized ~650MT

Steel production: Approx 3-4MT per year
India was 107MT in 2018, overtaking Japan.

Electricity installed capacity: 21MW
India had 350MW as of last year, and adds around 7-10% a year, more than the entire TSP installed capacity.

These stats don't show anything to suggest there's a substantial industrial base in the country. They're a pre-industrial society with an agrarian and services based economy.

I posted corresponding stats four years ago while saying the same thing, and very little has changed since. Meanwhile, India went from 84MT to 107MT steel output, 260GW to 340GW electricity installed capacity, and huge increases in coal output as well.


I think you mistyped the units on electric capacity - don't you mean GW?

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Re: Pakistani Economic Stress Watch

Postby Suraj » 21 Mar 2019 02:02

Yes

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Re: Pakistani Economic Stress Watch

Postby yensoy » 21 Mar 2019 07:44

Paki electricity growth may only be counting the grid connected electricity production. That capacity would be flat because of no additions in generative capacity, lack of coal/gas linkages or shortages due to logistics, non-payments and poor contracts. Likewise for renewables and nuclear, no additions in the past decade.

However this probably doesn't count captive power plants & generators, and I am sure the connected pakjabis all have huge diesel gensets at home to take care of their needs.

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Re: Pakistani Economic Stress Watch

Postby Sanju » 21 Mar 2019 08:53

Raveen ji, a simple request - can you please not quote the whole post in your reply? It just fills up the page. TIA

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Re: Pakistani Economic Stress Watch

Postby dhyana » 21 Mar 2019 08:58

IMF bailout: Rupee may depreciate further as Pakistan set to adopt flexible exchange rate

“The government is willing to spend political capital for much needed structural reforms …..and it will adopt a flexible exchange rate regime,” said Federal Minister for Planning Khusro Bakhtyar on Monday.


Honestly speaking, this is nothing short of a disaster for peace in "South Asia." They might eventually start entertaining delusions of getting their economic house in order- if they actually have to make the hard, painful reform decisions.

Nyet- there should be no IMF bailout for these blowhards. Or at the very least, drag out the negotiations a few more years. What's the rush? Better to continue on the current path, and have their economy be 1/20 of Bharat's by 2030- or as insignificant as a gnat's as_ (whichever comes first). Only then will some commonsense prevail amongst the elite over there.

Perhaps there is some sort of Baloch Insurgency Fund that one can donate to? Getting ancy.

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Re: Pakistani Economic Stress Watch

Postby Suraj » 21 Mar 2019 09:05

yensoy wrote:Paki electricity growth may only be counting the grid connected electricity production. That capacity would be flat because of no additions in generative capacity, lack of coal/gas linkages or shortages due to logistics, non-payments and poor contracts. Likewise for renewables and nuclear, no additions in the past decade.

However this probably doesn't count captive power plants & generators, and I am sure the connected pakjabis all have huge diesel gensets at home to take care of their needs.

That applies to every country in Soothe a Shia .

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Re: Pakistani Economic Stress Watch

Postby khan » 21 Mar 2019 09:27

dhyana wrote:IMF bailout: Rupee may depreciate further as Pakistan set to adopt flexible exchange rate

“The government is willing to spend political capital for much needed structural reforms …..and it will adopt a flexible exchange rate regime,” said Federal Minister for Planning Khusro Bakhtyar on Monday.


Honestly speaking, this is nothing short of a disaster for peace in "South Asia." They might eventually start entertaining delusions of getting their economic house in order- if they actually have to make the hard, painful reform decisions.


Painful decision #1 will have to be to cut their military budget drastically. There is nowhere else to cut, unless they literally want to go back to eating grass and having no electricity, sewage, roads or running water. Not going to happen.

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Re: Pakistani Economic Stress Watch

Postby manjgu » 21 Mar 2019 10:26

i am wondering can we pressure/convince EU to stop imports from Pakistan instead of worrying about declaring MA as a terrorist?? that IMHO will be a more concrete step. What Pakis export is not something v special/exotic ..just towels and shirts.

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Re: Pakistani Economic Stress Watch

Postby K Mehta » 21 Mar 2019 13:39

manjgu wrote:i am wondering can we pressure/convince EU to stop imports from Pakistan instead of worrying about declaring MA as a terrorist?? that IMHO will be a more concrete step. What Pakis export is not something v special/exotic ..just towels and shirts.

Bakis have GSP plus status with EU. With so many violation of human rights and enforced disappearances, there is enough grounds for removal of this status.

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Re: Pakistani Economic Stress Watch

Postby sarathy » 21 Mar 2019 17:55

Karan M wrote:Hat tip to Rakesh for getting this the views. Just look at the cityscape here:

Peshawar, note literally no wimmen on the streets


Pride and joy, Kraaachi

Their development resembles the ghetto in some ill-planned indian city from the 80's..and seems to be firmly stuck there. Even our ghettos have modern parts. The rest of the Indian cityscape is simply missing. Forget about large business parks dotted every which where. Very few if any large scale Mfg industries on the outskirts manufacturing state of the art stuff for export or huge local consumption. No large glitzy areas @ the scale in Indian cities.. No huge sets of skyscraper apartments for the middle class... the list goes on and on..

These Pakistanis are basically incapable of running a state. Illiterate AK-wielding AoA types, or hapless "take my son for jihad" faithfools, or feudal/military types behind high walls enjoying scarce resources.

This is just one giant camp of dunces who can't learn things, make things or do anything useful. They exist to sponge off other civilizations.


Scrounge a harsh life in the west as a cab driver, use up all the money not for kids education or moving up the totem pole yourself.. send it to Pakistan to show off by building a mansion which nobody lives in.

If anything describes the empty Pakjabi mentality, built around a fake showoff culture, it is this.


Terrible state of affairs. A pity the political/TSPA establishment cares more about Jeehad than the people. The water crisis is particularly inhuman!

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Re: Pakistani Economic Stress Watch

Postby sudeepj » 21 Mar 2019 21:04

yensoy wrote:Paki electricity growth may only be counting the grid connected electricity production. That capacity would be flat because of no additions in generative capacity, lack of coal/gas linkages or shortages due to logistics, non-payments and poor contracts. Likewise for renewables and nuclear, no additions in the past decade.

However this probably doesn't count captive power plants & generators, and I am sure the connected pakjabis all have huge diesel gensets at home to take care of their needs.


This is 'per capita electricity consumption' and includes all sources, including diesel gensets. Ofcourse, there is no 'census' of gensets, but a reasonable estimation can be done by modelling sales and depreciation.

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Re: Pakistani Economic Stress Watch

Postby yensoy » 21 Mar 2019 21:08

Thanks for the correction/clarification sudeepj, their situation is dire indeed. Decoupling started in 2006.

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Re: Pakistani Economic Stress Watch

Postby sudeepj » 21 Mar 2019 21:10

khan wrote:
dhyana wrote:IMF bailout: Rupee may depreciate further as Pakistan set to adopt flexible exchange rate



Honestly speaking, this is nothing short of a disaster for peace in "South Asia." They might eventually start entertaining delusions of getting their economic house in order- if they actually have to make the hard, painful reform decisions.


Painful decision #1 will have to be to cut their military budget drastically. There is nowhere else to cut, unless they literally want to go back to eating grass and having no electricity, sewage, roads or running water. Not going to happen.



So far, their model has been to agree to all the painful cuts, then waste time in chai-biscuit as the first few tranches of IMF money rolls in, then renege on the promise and forego the last or the last couple of tranches.

IMF, which really means the Americans, will do well to insist on the implementation of the cuts in military budget from day 1. The US holds a veto power over any IMF bailout. India has a 2.6% vote and should lobby sympathetic countries for these conditions. Indian bureaucrats and diplomats should be part of the IMF monitors/negotiators for this bailout.

Pakistanis really have no excuse because the modalities of the cuts would have been agreed to and the planning work is available from the last round of the bailout.

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Re: Pakistani Economic Stress Watch

Postby Bart S » 21 Mar 2019 23:50

sudeepj wrote:
khan wrote:
Painful decision #1 will have to be to cut their military budget drastically. There is nowhere else to cut, unless they literally want to go back to eating grass and having no electricity, sewage, roads or running water. Not going to happen.



So far, their model has been to agree to all the painful cuts, then waste time in chai-biscuit as the first few tranches of IMF money rolls in, then renege on the promise and forego the last or the last couple of tranches.


It will be hard for them to do that strategy through Im the Dim's full term, because they will need constant IMF assistance as just the first few tranches won't do it for them. They are burning money much faster than they are making it, and they will constantly need to be bailed out.


sudeepj wrote:
khan wrote:
IMF, which really means the Americans, will do well to insist on the implementation of the cuts in military budget from day 1. The US holds a veto power over any IMF bailout. India has a 2.6% vote and should lobby sympathetic countries for these conditions. Indian bureaucrats and diplomats should be part of the IMF monitors/negotiators for this bailout.

Pakistanis really have no excuse because the modalities of the cuts would have been agreed to and the planning work is available from the last round of the bailout.


Should we really push for that? That would be reform and long term a better structure for them. I think we should let their military eat up all the development resources till they reach the breaking point.

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Re: Pakistani Economic Stress Watch

Postby yensoy » 22 Mar 2019 09:59

Happy days are here again! Pakistan is endowed with riches of oil and gas beyond imagination https://www.dawn.com/news/1471138/pakistan-may-soon-hit-oil-gas-jackpot-pm

Like their desert brothers they don't need to work for a single day and enjoy the fruits of allah's bounty.

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Re: Pakistani Economic Stress Watch

Postby souravB » 22 Mar 2019 10:13

yensoy wrote:Happy days are here again! Pakistan is endowed with riches of oil and gas beyond imagination https://www.dawn.com/news/1471138/pakistan-may-soon-hit-oil-gas-jackpot-pm

Like their desert brothers they don't need to work for a single day and enjoy the fruits of allah's bounty.

I so wish for it to be real. We all know what Unkil does with oeel-endowed nations, now China will also be a layer of sandwich. :wink:

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Re: Pakistani Economic Stress Watch

Postby srin » 22 Mar 2019 13:09

Another option is to go after the remittances. https://en.wikipedia.org/wiki/Overseas_Pakistani#Remittances

They seem to get quite a bit from US and UK and Saudi. Some kind of pressure to dam the flow a bit would be very useful.

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Pakistani Economic Stress Watch

Postby Peregrine » 22 Mar 2019 15:38

China to lend Pakistan $2.1b in commercial loan - Shahbaz Rana

ISLAMABAD: China will release $2.1 billion in commercial loan next week, said a top official of Ministry of Finance on Thursday – an injection that will again push the gross official foreign currency reserves to double-digits after almost a year.

The Ministry of Finance has completed all procedural formalities with Chinese counterpart for a facility of RMB 15 billion equivalent to $2.1 billion, stated Advisor to Ministry of Finance Dr Khaqan Najeeb. He said that the funds will be deposited in the State Bank of Pakistan (SBP) account by Monday, March 25.

It is a commercial loan that will be given by three banks of China. These banks are likely to be the Industrial and Commercial Bank of China (ICBC), Bank of China (BoC) and China Development Bank (CDB). Unlike past, when Chinese commercial loans were pegged with London-Interbank Offered Rates, this time China has linked the interest rates with Shanghai Interbank Offered Rates, making it an expensive transaction.

Dr Khaqan claimed that the interest rates were very “competitive” but he did not disclose these rates. In the past, China had given commercial loans in the range of 4 percent to 5 percent.

The advisor said that the $2.1 billion would help further strengthen the foreign exchange reserves and ensure the balance of payments stability. Pakistan has been waiting for the last four months to secure this loan. Last week, Finance Minister Asad Umar had said that agreements with two Chinese banks had been finalized while one was remaining.

The government of Prime Minister Imran Khan has been striving hard to arrange loans from friendly nations aimed at avoiding default on international debt obligations. So far, Saudi Arabia has given $3 billion in cash in addition to signing a deal for oil on deferred payments, also worth $3 billion.

Pakistan arranged $3 billion cash from Saudi Arabia at a 3.2pc interest rate.

The United Arab Emirates also promised to give $3 billion in cash out of which $2 billion have already been transferred. The UAE cash support has been secured for a period of two years at an interest rate of 3pc, according to a written reply by Asad Umar submitted in the Senate.

The UAE was also supposed to give $3.2 billion oil on deferred payments. But Finance Minister Asad Umar said last week that “most probably, the UAE oil facility agreement will not materialise”.

Advisor to Prime Minister on Commerce Abdul Razak Dawood said on Thursday that the UAE oil deal was not completely off the table. He maintained that he did not know the reasons for the delay.

An official of the Board of Investment observed that Pakistan had shared the Saudi oil deal with the UAE, which was currently being reviewed.

During the week ending March 15, the SBP said on Thursday that it received an inflow of $1 billion from UAE as the placement of funds. After taking into account outflows relating to external debt and other official payments, SBP reserves increased by US$716 million during the week, standing at $8.8 billion.

With Chinese injection of $2.1 billion, the gross official foreign currency reserves would jump close to $11 billion. Last time, in April 2018, the gross official reserves stood at $11.4 billion.

But these reserves are largely built by securing loans, as the efforts of the past three years to enhance exports are not yielding the desired results.

Before coming into power, PM Khan was critical of taking loans to run the country but due to an extremely low level of foreign currency reserves and financing requirements standing above $25 billion, the premier had to fly to Beijing and other capitals to seek advances.

The pressure on the current account deficit is also gradually reducing, largely because of the compression of imports. The SBP reported on last Friday that current account deficit in February stood at only $356 million, down from $873 million in January. During the period July-February this fiscal year, the current account deficit fell to $8.84 billion, down by 22.5pc from $11.42 billion in the corresponding period last year.

Cheers Image
Last edited by Peregrine on 22 Mar 2019 15:46, edited 1 time in total.

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Re: Pakistani Economic Stress Watch

Postby nam » 22 Mar 2019 15:45

khan wrote:Painful decision #1 will have to be to cut their military budget drastically. There is nowhere else to cut, unless they literally want to go back to eating grass and having no electricity, sewage, roads or running water. Not going to happen.


We want them to keep the military budget high. Their kit should be used up waiting for our "attack".

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Re: Pakistani Economic Stress Watch

Postby sarathy » 22 Mar 2019 18:32

Peregrine wrote:China to lend Pakistan $2.1b in commercial loan - Shahbaz Rana

ISLAMABAD: China will release $2.1 billion in commercial loan next week, said a top official of Ministry of Finance on Thursday – an injection that will again push the gross official foreign currency reserves to double-digits after almost a year.

Cheers Image



The only problem I see with Cheen loans is that they seem to be literally buying Bakistan and that will increase the domination of China that is already enveloping us from all sides :evil: .

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Re: Pakistani Economic Stress Watch

Postby ArjunPandit » 22 Mar 2019 19:04

yensoy wrote:Happy days are here again! Pakistan is endowed with riches of oil and gas beyond imagination https://www.dawn.com/news/1471138/pakistan-may-soon-hit-oil-gas-jackpot-pm

Like their desert brothers they don't need to work for a single day and enjoy the fruits of allah's bounty.

230KM!! are they going to pull out Magma?? 230 Km is in mantle, suits well they're going to mental.
Not to forget the key word is "May"

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Pakistani Economic Stress Watch

Postby Peregrine » 22 Mar 2019 19:12

S&P BSE SENSEX

Index Current : 38,164.61 - Pt. Change : -222.14 - % Change : - 0.58%

Market Capitalization of BSE Listed Co. (Rs.Cr.) : 1,48,22,225.30 - $ 1 / I. Rs 68.9925

Market Capitalization of BSE Listed Co. (U S $.) : 2,148.38 Billion

P S E

Index Current : 38531.87 - Pt. Change : +147.15 - % Change +0.38

Market Capitalization of PSE Listed Co. (Rs.Tr.) : 7,846,056,163,397 - $ 1 / I. Rs 140.10

Market Capitalization of PSE Listed Co. (U S $.) : 56.04 Billion

B S E : P S E : : 38.33 : 1


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Re: Pakistani Economic Stress Watch

Postby Mort Walker » 22 Mar 2019 19:21

So, TSP current account deficit has reduced due to import reduction caused by currency devaluation. TSP industrial manufacturing and consumer goods production is very limited, but at the same time the Chinese are giving a loan $2.1 billion at 4%. What this means is that TSP can ONLY afford to import low end Chinese goods and nothing else. China has a captive export market.

I would say this is a brilliant move by the Chinese. How long will it take for the TSP leadership to raid the treasury and how long will it take for them to deplete their $11 billion Forex reserves before they are on the ropes again?

India has to keep the saber rattling up. Force TSP to spend more than 60% of their budget on defense and debt repayments.

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Re: Pakistani Economic Stress Watch

Postby Vips » 22 Mar 2019 21:09

Peregrine wrote:S&P BSE SENSEX

Index Current : 38,164.61 - Pt. Change : -222.14 - % Change : - 0.58%

Market Capitalization of BSE Listed Co. (Rs.Cr.) : 1,48,22,225.30 - $ 1 / I. Rs 68.9925

Market Capitalization of BSE Listed Co. (U S $.) : 2,148.38 Billion

P S E

Index Current : 38531.87 - Pt. Change : +147.15 - % Change +0.38

Market Capitalization of PSE Listed Co. (Rs.Tr.) : 7,846,056,163,397 - $ 1 / I. Rs 140.10

Market Capitalization of PSE Listed Co. (U S $.) : 56.04 Billion

B S E : P S E : : 38.33 : 1


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You kafir can keep track for as long as you want. AOA will only be when it reaches 72:1 :D

Peregrine
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Re: Pakistani Economic Stress Watch

Postby Peregrine » 22 Mar 2019 21:18

Peregrine wrote:S&P BSE SENSEX

Index Current : 38,164.61 - Pt. Change : -222.14 - % Change : - 0.58%

Market Capitalization of BSE Listed Co. (Rs.Cr.) : 1,48,22,225.30 - $ 1 / I. Rs 68.9925

Market Capitalization of BSE Listed Co. (U S $.) : 2,148.38 Billion

P S E

Index Current : 38531.87 - Pt. Change : +147.15 - % Change +0.38

Market Capitalization of PSE Listed Co. (Rs.Tr.) : 7,846,056,163,397 - $ 1 / I. Rs 140.10

Market Capitalization of PSE Listed Co. (U S $.) : 56.04 Billion

B S E : P S E : : 38.33 : 1


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Vips wrote:You kafir can keep track for as long as you want. AOA will only be when it reaches 72:1 :D
Vips Ji :

AOA!

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chandrasekaran
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Re: Pakistani Economic Stress Watch

Postby chandrasekaran » 22 Mar 2019 21:28

ArjunPandit wrote:
yensoy wrote:Happy days are here again! Pakistan is endowed with riches of oil and gas beyond imagination https://www.dawn.com/news/1471138/pakistan-may-soon-hit-oil-gas-jackpot-pm

Like their desert brothers they don't need to work for a single day and enjoy the fruits of allah's bounty.

230KM!! are they going to pull out Magma?? 230 Km is in mantle, suits well they're going to mental.
Not to forget the key word is "May"


From https://www.petropedia.com/definition/9 ... deep-water, it probably means
230 kms from the shore. At such distances the sea is quite deep, couple of thousands of meters.

yensoy
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Re: Pakistani Economic Stress Watch

Postby yensoy » 22 Mar 2019 22:17

Mort Walker wrote:...China has a captive export market.

I would say this is a brilliant move by the Chinese...


Oh it gets even better. Chinese also have a captive import market, a market which they are "committed" to purchase from but since the obligation is one-sided, they will get to price the product at will! https://www.dawn.com/news/1471165/pakistan-gets-1bn-chinese-market-access-for-rice-sugar-yarn This is being spun in the paki media as "market access" to China, and we all know how it will work (including several commenters to the article, even obviously pak ones).

I have make this point earlier as well, it is possible to do economic damage to a country not just by exporting to the country but also by importing from the country - when you import goods which take a larger cost to produce (including indirect costs and long-term/social/environmental costs) than they are selling it to you for (often because product is a commodity with indexed prices).

Peregrine
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Re: Pakistani Economic Stress Watch

Postby Peregrine » 22 Mar 2019 22:29

Mort Walker wrote:So, TSP current account deficit has reduced due to import reduction caused by currency devaluation. TSP industrial manufacturing and consumer goods production is very limited, but at the same time the Chinese are giving a loan $2.1 billion at 4%. What this means is that TSP can ONLY afford to import low end Chinese goods and nothing else. China has a captive export market.

I would say this is a brilliant move by the Chinese. How long will it take for the TSP leadership to raid the treasury and how long will it take for them to deplete their $11 billion Forex reserves before they are on the ropes again?

India has to keep the saber rattling up. Force TSP to spend more than 60% of their budget on defense and debt repayments.
Mort Walker Ji :

Terroristan’s Forex Reserves have been A Negative Figure since 06-01-2019 as per the following Article : Alarm Bells
An emergency is “a serious, unexpected, and often dangerous situation requiring immediate action”. In 2013, we ran to the IMF when our net international reserves had fallen to negative $7 billion. In 2008, we ran to the IMF when our net international reserves had fallen to negative $2 billion. Imagine: our net international reserves now stand at negative $11 billion.

In addition the Terroristani Reserves include US$ 5 .8 Billion taken as a “Loan” from the Pakistan Commercial Banks as per the following Article :
After debt repayments in coming months, SBP’s own net reserves will be a mere $4.5 billion
“This is clearly double counting of $5.8 billion. In principle, it should have excluded this sum from the commercial banks’ reserves,” said Dr Ashfaque Hasan Khan, former director general of Debt of Ministry of Finance.
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Ardeshir
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Re: Pakistani Economic Stress Watch

Postby Ardeshir » 23 Mar 2019 00:15

chandrasekaran wrote:
From https://www.petropedia.com/definition/9 ... deep-water, it probably means
230 kms from the shore. At such distances the sea is quite deep, couple of thousands of meters.

Don't their territorial waters end at ~12 Nautical Miles from the shore though?

Suraj
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Re: Pakistani Economic Stress Watch

Postby Suraj » 23 Mar 2019 00:29

The EEZ is what matters and it extends ~270km in their case, in some areas . However the depths at 230km out are about 10000-12000ft, nearly at the limit of, or beyond the capabilities of deep sea drilling technology today. It's also very hazardous at that depth. The Deepwater Horizon accident occured while drilling 5000ft below surface.


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