Pakistani Economic Stress Watch

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Manish_P
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Re: Pakistani Economic Stress Watch

Postby Manish_P » 15 Apr 2019 14:34

^ How is the canine population doing in Paki land.. I fear for their well-being the most.

The pakis might soon start their own version of the Yulin festival from the land of the Iron Blothel. It's just a couple of months away.

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Pakistani Economic Stress Watch

Postby Peregrine » 15 Apr 2019 16:18

Singha wrote:fed up with the high prices of 'proper' meat , paks have started hunting and eating flamingoes now

https://twitter.com/TarekFatah/status/1 ... 8647296000

they are perhaps the only country that allows hunting the national animal(markhor) for fat fees. one fellow paid $91000 for a trophy.

whats next left to eat after the 'easy meat' like flamingos learn to overfly pak on their way to safer shores in india?

I can only think of donkeys, peacocks and houbaras. but cheen loves donkey meat so mostly will be exported(its exported even from africa).

at one time Pak surely had lions, tigers, cheeta, leopard, elephant, large deer but the attitude of the people led to big deforestation and ongoing desertification and now the large wildlife like leopard, snow leopard, siberian ibex and markhor only survives in northern areas of pak north of punjab.
Singha Ji :

Paul Merton in China eating Donkey Penis

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Pakistani Economic Stress Watch

Postby Peregrine » 15 Apr 2019 18:56

X Posted on the Terroristan Thread


Spilling tea with Pakistan Finance Minister Asad Umar

Spilling tea with Asad Umar post-IMF: “We were very close to the landing zone; now we have landed”

Right after his meetings with the International Monetary Fund (IMF) in Washington, I had the opportunity to sit down for tea with Finance Minister Asad Umar at the Pakistani consulate in New York City. We talked about his negotiations with the IMF, unpacked his outlook on the Pakistani economy as well as the personal toll this job is taking on him.
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Pakistani Economic Stress Watch

Postby Peregrine » 15 Apr 2019 19:25

S&P BSE SENSEX

Index Current : 38,905.84 - Pt. Change : +138.73 - % Change : +0.36%

Market Capitalization of BSE Listed Co. (Rs.Cr.) : 1,53,15,888.66 - $ 1 / I R : 69.5375

Market Capitalization of BSE Listed Co. (U $ $.) : 2,202.54 Billion

P S E

Index Current : 37504.08 - Pt. Change : +166.21 - % Change : +0.45%

Market Capitalization of PSE Listed Co. (Rs.Tr.) : 7,661,914,033,206 - $ 1 / T R : 142.50

Market Capitalization of PSE Listed Co. (U S $.) : 53.77 Billion

B S E : P S E : : 40.96 : 1


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Pakistani Economic Stress Watch

Postby Peregrine » 15 Apr 2019 19:36

IMF confirms its mission will visit Pakistan this month to continue 'constructive' discussions - Sanaullah Khan
The International Monetary Fund (IMF) on Monday said that it held "constructive discussions" with Pakistani authorities during last week's spring meetings in Washington and that its mission will be visiting Pakistan this month to "continue the discussions" on a bailout package.
The announcement was made by the Office of the Resident Representative of the IMF in a press release following reports that the IMF mission's visit of Pakistan for finalising the package may be delayed as both sides are still engaged in an intense discussion.
"The Pakistani authorities and IMF staff held constructive discussions during the IMF/World Bank Spring Meetings in Washington DC towards an IMF-supported programme," the IMF statement said.
"At the request of the authorities, an IMF mission will be going to Pakistan before the end of April to continue the discussions."
It is pertinent to mention here that Finance Minister Asad Umar, who led the Pakistani delegation at the spring meetings, had said earlier this month that the mission would visit Islamabad soon and an agreement should be signed by the end of this month.
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Re: Pakistani Economic Stress Watch

Postby sudhan » 15 Apr 2019 19:38

Peregrine wrote:X Posted on the Terroristan Thread

Spilling tea with Pakistan Finance Minister Asad Umar

Right after his meetings with the International Monetary Fund (IMF) in Washington, I had the opportunity to sit down for tea with Finance Minister Asad Umar at the Pakistani consulate in New York City. We talked about his negotiations with the IMF, unpacked his outlook on the Pakistani economy as well as the personal toll this job is taking on him.
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Some interesting bits:

The second thing I noticed about Umar when he entered the room was how tall(never forget to mention how TFTA we are!) he actually is in person. The first thing I noticed was how visibly exhausted he looks. By nature, he is an irrepressibly optimistic man but it’s clear that the weight of the office he holds is bearing down on him (although he attributes his momentary exhaustion to jet lag!).


Nope, that would be due to harsh and repeated GUBO-ohne-vaseline.. including to FATF people, on behalf of Immy and the brown pants..


Why no one talks about how this IMF bail out money will evaporate into thin air, within no time, servicing cheeni debt?

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Re: Pakistani Economic Stress Watch

Postby habal » 15 Apr 2019 21:51

Gul Bukhari
@GulBukhari
·
2h
آج
@Asad_Umar
کو نوکری سے فارغ کرنے کی غلط خبر پر کراچی سٹاک مارکیٹ میں اُمید کی لہر دوڑ گئی ۔ پھر تردید آ گئی
Short lived rally in Karachi Stock Exchange upon false news of Asad Umar being fired. Bears returned when Govt denied the firing
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:rotfl:

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Re: Pakistani Economic Stress Watch

Postby sudhan » 15 Apr 2019 22:06

habal wrote:Gul Bukhari
@GulBukhari
·
2h
آج
@Asad_Umar
کو نوکری سے فارغ کرنے کی غلط خبر پر کراچی سٹاک مارکیٹ میں اُمید کی لہر دوڑ گئی ۔ پھر تردید آ گئی
Short lived rally in Karachi Stock Exchange upon false news of Asad Umar being fired. Bears returned when Govt denied the firing

:rotfl:


:rotfl: :mrgreen:

Peregrine ji, Could you please update your Stock market data? Your data sample was misphortunately timed to perfection :mrgreen:

Looks like the rally was based on pure hot air and went phusss immediately :mrgreen:

Man! Bakistan is a unceasing comedy channel..

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Re: Pakistani Economic Stress Watch

Postby Peregrine » 15 Apr 2019 22:54

habal wrote:Gul Bukhari
@GulBukhari
·
2h
آج
@Asad_Umar
کو نوکری سے فارغ کرنے کی غلط خبر پر کراچی سٹاک مارکیٹ میں اُمید کی لہر دوڑ گئی ۔ پھر تردید آ گئی
Short lived rally in Karachi Stock Exchange upon false news of Asad Umar being fired. Bears returned when Govt denied the firing

:rotfl:
sudhan wrote:
:rotfl: :mrgreen:

Peregrine ji, Could you please update your Stock market data? Your data sample was misphortunately timed to perfection :mrgreen:

Looks like the rally was based on pure hot air and went phusss immediately :mrgreen:

Man! Bakistan is a unceasing comedy channel..
sudhan Ji:

AAP KI SEVA MEIN PRUSTOOT KARTAY HAIN :rotfl:

Despite MSCI review, active value-seekers to return to Pakistan - Faraz Ahmed
KARACHI: A long and agonising dry spell has played havoc with the psyche of stock market investors in Pakistan] and most of them have preferred to stay on the sidelines as reflected in the lacklustre trading volumes.
While sitting at the edge of their seats eagerly looking for triggers, they are scrutinising every event through a bear market lens. Even the recent announcement by Morgan Stanley Capital International (MSCI) that it will carry out a semi-annual review for its Emerging Market (EM), Frontier Market (FM) and Developed Market (DM) indices is looked at sceptically.
The fears of domestic investors are not unfounded as the current rout in the stock market roughly kicked off after a similar review in May 2017 when the MSCI upgraded Pakistan from FM to EM category. The euphoric anticipation of joining the $1.8-trillion prestigious EM club and expectation of huge foreign inflows pushed the KSE-100 index to uncharted territories when the index touched 53,000 levels.
However later, what happened on the contrary was a huge exodus of foreign funds focusing on the FM. The negativity triggered by these huge outflows coupled with political uncertainty, widening trade deficit and rupee depreciation pushed the market into an abyss and now it is even struggling to hold the latest support level at 37,000 points.
Senior analyst Ali Asghar Poonawala at AKD Securities ruled out the possibility of Pakistan being removed immediately from the EM index in the upcoming May 2019 review, though Pakistan’s weightage has been cut to 0.03% recently from the initially assigned 0.16%.
However, there is a general fear on the street that the fate of Pakistan’s stock market hangs in the balance in the upcoming review as it may not be able to meet the key criteria set by the MSCI to avoid a downgrade back to the FM.
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Pakistani Economic Stress Watch

Postby Peregrine » 16 Apr 2019 14:58

Pakistan eyes BEGS FOR $22b package from lending agencies - Shahbaz Rana

“At the request of the (Pakistani) authorities, an IMF mission will be going to Pakistan before the end of April to continue the discussions,” said a statement of Office of the Resident Representative of the IMF. BALDERDASH & COBBLERS! It is a Decision made by the IMF!

It added that the Pakistani authorities and the IMF staff held constructive discussions during the IMF-World Bank (WB) Spring Meetings in Washington DC towards an IMF-supported programme. POPPYCOCK!

Hours before the IMF communiqué, Umar told the National Assembly Standing Committee on Finance and Revenue that Pakistan and the IMF have in principle reached an agreement on all policy matters.

But the finance minister refused to divulge details of the IMF conditions, saying it could ‘jeopardise the negotiations’. After the committee meeting, the minister did say the electricity prices would go up “due to idle capacity payments left behind by the PML-N [Pakistan Muslim League-Nawaz] government.”

“Both the sides have documented the agreement and an IMF mission would arrive in Islamabad this month to sort out technical details. The expected size of the IMF loan will be $7.5 billion to $8 billion,” Umar added. The dates of the IMF visit will be finalised in the next couple of days.

Umar said the agreement has been achieved on the budget deficit, exchange rate management, energy sector, state-owned enterprises, and public finance management.

The finance minister insisted that the IMF’s conditions would not burden the poor. The people are facing problems due to the mess left behind by the PML-N, he said.

Umar said the National Electric Power Regulatory Authority (Nepra) would periodically increase the electricity prices to pass on the impact of idle capacity payments to the Independent Power Producers.

But sources said it is a condition of the IMF, as the government was initially against the proposal to bridge the gap between electricity generation cost and consumer price through administrative measures.

The finance minister said in addition to the IMF lending, the programme loans from the World Bank and the Asian Development Bank (ADB) would also resume once the IMF programme is approved.

Both the multilateral lenders have suspended Pakistan’s budgetary support due to deterioration in macroeconomic conditions. The minister said the three multilateral lending agencies are expected to give a total package of nearly $22 billion in the next three years. He said the WB lending could reach to $7.5 billion in next three years while the ADB may also give over $6 billion in loans.

Pakistan and the IMF have remained engaged for the last eight months and the upcoming IMF staff level mission would finalise the programme. But the conditions that the IMF has imposed in return of the bailout appeared stringent that would keep the PTI government on its toes.

It will also be difficult to approve new legislation due to a thin majority of the Pakistan Tehreek-e-Insaf (PTI) in the National Assembly and its minority status in the Senate. Umar said the international capital markets are also receptive to the government’s economic reforms programme and Pakistan may issue a bond either towards the end of this fiscal year or at the start of the next financial year.

Umar said the foreign currency reserves that have so far remained under pressure would soon start building up after approval of the IMF loan. The members of the standing committee asked the finance minister to share the details about the targets agreed with the IMF. Terroristan's Strategy - Take a Loan and show it as "Foreign Reserves"!

“The government cannot share the details until completion of the negotiations, as this could jeopardise the whole programme,” he said.

After the meeting, Umar said in the next fiscal year there will be a primary balance on the budget that will be achieved on the back of enhancing revenue collection.

The government’s revenues are not even sufficient for debt servicing. Heavy taxation under the IMF programme may further hurt the economic growth, said the PML-N’s Qaiser Ahmad Sheikh.

But Umar reiterated that it is the IMF that changed the position while accepting Pakistan’s stance. He said the IMF has now admitted that the economy has responded to the government’s policy actions.

Umar said there is no link between the IMF programme and the Financial Action Task Force (FATF). He said the government has prepared its draft report that would be sent to the FATF on Monday.

He said the report would become the base for Pakistan’s second review that will take place in the third week of May. The minister said this time the FATF would hold a review in Pakistan and would meet the stakeholders.

Umar said the stabilization phase would continue under the IMF programme and if the government tried to end it prematurely this could result in the recurrence of high current account and budget deficits.

“$9.2 billion financial assistance by China, Saudi Arabia, and the United Arab Emirates provided a breathing space that was utilized to negotiate a better deal with the IMF,” he added.

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Pakistani Economic Stress Watch

Postby Peregrine » 16 Apr 2019 15:12

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Re: Pakistani Economic Stress Watch

Postby Vips » 16 Apr 2019 18:19

After the false news of IMF deal here is the real one: IMF may delay bailout package to cash-strapped Pakistan: report.

The IMF's bailout package to cash-strapped Pakistan could be delayed as the global lender is pressing it to be transparent on the CPEC project and wants a written guarantee from Islamabad that its assistance will not be used to repay the loans to China, a media report said on Monday.

Pakistan is seeking USD 8 billion from the International Monetary Fund (IMF) to bail itself out from a severe balance-of-payments crisis that threatens to cripple the country's economy.With the generous Chinese assistance, Pakistan has so far received a total of USD 9.1 billion in financial aid packages from friendly countries during the current fiscal year.

Finance Minister Asad Umar said earlier this month that a mission of the International Monetary Fund (IMF) would visit Islamabad soon after the spring meetings of the World Bank Group, which includes the IMF, and an agreement should be signed by the end of this month. Pakistani daily Dawn quoting official sources said the visit of the IMF mission to Islamabad for finalising the bailout package may be delayed as both sides are still engaged in an "intense discussion" on the final details of the deal.

"So, the IMF mission is now more likely to visit Islamabad in May, not April," the sources told the daily.The finance minister, who led the Pakistani delegation at the meetings, went to New York on Friday but his team, which includes senior officials of his ministry and other government agencies, stayed in Washington for further talks. Umar during a press conference on Thursday said the two sides had "more or less, reached an understanding" on the bailout package and "in a day or two, we hope to reach a full agreement".

An official familiar with the Pakistan-IMF talks said, "Islamabad still hopes to conclude the agreement before June, as they believe the bailout package would help budget prospects." If concluded, it would be the 14th IMF aid package for Pakistan.The sticking points, however, are the demands for market-determined exchange rates and sharing details of Chinese loans which Pakistan is reluctant to do so.The sources said that IMF officials were also seeking details of the China-Pakistan Economic Corridor (CPEC), along with a written guarantee from both Pakistan and China that the IMF assistance will not be used to repay loans to China.

The IMF insists on full disclosure of all financial cooperation between Pakistan and China, including assistance related to infrastructure development, nuclear power plants, joint manufacturing of JF-17 Thunder fighter jets and procurement of submarines. The IMF is also demanding details of more than USD 6.5 billion of commercial loans Pakistan has received from China in the past two and a half years. In July, China also deposited USD 2 billion with the State Bank of Pakistan.The finance minister is likely to visit China on April 25 for talks on the IMF concerns over CPEC and IMF will wait to hear from him before it finalises the bailout package, the daily reported.

Some of the other conditions proposed by the IMF include: making the State Bank of Pakistan independent, a market-oriented exchange rate, expanding the tax target by Rs 5,000 billion, ending income tax concessions, more taxes on salaries, narrowing the amount of taxable income from Rs12 lakh a year to Rs4 lakh, reducing electricity and gas losses, Rs140 billion electricity and gas revenue losses be recovered from consumers.

Both sides are engaged in "fine-tuning" the details of the proposed IMF programme. Pakistan wants the IMF to review some of the "restrictive" conditions it has attached to the package while the IMF insists that those conditions are absolutely essential for a successful completion of the programme. Pakistan wants the IMF to focus on the long-term structural reforms that help revive its economy instead of attaching conditions that would be difficult to implement.(Typical paki mentality - Just give us the money and after that dont bother :mrgreen: )

Last week, three influential US lawmakers urged the Trump adminstration to oppose the proposed multi-billion bailout package being sought by Pakistan from the IMF arguing it could be used to repay the Chinese debt.In a letter to Treasury Secretary Steven Mnuchin and Secretary of State Mike Pompeo, the bipartisan group of three lawmakers Ted Yoho, Ami Bera and George Holding expressed their "deep concern" over the likely use of IMF's bailout package to repay the massive Chinese debt that Pakistan has accumulated under the CPEC.

China, they said, is investing USD 62 billion in Pakistan under the CPEC. "Its debt repayment and profit repatriation terms are not transparent and have understandably raised concerns inside Pakistan," the US lawmakers said.

All in all what will Charsi led pakistan do after 8 months? Their run rate of using $$ to administer the country (finance the deficit) is $1 billion per month and they have to pay $24-32 Billion that is due in the next 12 months. Very interesting times ahead. Got to buy pop corn packs in wholesale and brew lots of coffee for fun times ahead :D )

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Re: Pakistani Economic Stress Watch

Postby sudhan » 16 Apr 2019 18:24

Chinese loan data shared with IMF: Umar

Weren't the pakis blackmailing the Chinese with this? Like.. "Give us money, or we will have to air out our CPEC langots for IMF"

So they went ahead and did it.. What are the chinese saying, I wonder?

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Pakistani Economic Stress Watch

Postby Peregrine » 16 Apr 2019 19:44

S&P BSE SENSEX

Index Current : 39,275.64 - Pt. Change : +369.80 - % Change : +0.95%

Market Capitalization of BSE Listed Co. (Rs.Cr.) : 1,54,24,307.80 - $ 1 / I R : 69.59

Market Capitalization of BSE Listed Co. (US $) : 2,216.46 Billion

P S E

Index Current : - Pt. Change : -122.13 - % Change -0.33

Market Capitalization of PSE Listed Co. (Rs.Tr.) : 7,628,453,361,031 - $ 1 / T R 142.50

Market Capitalization of PSE Listed Co. (US $) : 55.53 Billion

B S E : P S E : : 39.91 : 1


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Re: Pakistani Economic Stress Watch

Postby nits » 16 Apr 2019 20:03

RIL 2018 Revenue was - US$66 billion; they can theoretically buy all of Pak Listed companies and will still have some change left - Just saying

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Re: Pakistani Economic Stress Watch

Postby sudhan » 16 Apr 2019 21:20

Saar, combined revenues of India's top 6 companies (IO + ONGC + RI + TM + SBI + BP) is greater than the size of the entire Bakistani economy..

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Pakistani Economic Stress Watch

Postby Peregrine » 16 Apr 2019 23:37

sudhan wrote:Saar, combined revenues of India's top 6 companies (IO + ONGC + RI + TM + SBI + BP) is greater than the size of the entire Bakistani economy..
sudhan Ji :

You will be please to know that the Market Capitalization of RIL + TCS + HDFC Bank is Indian Rs 22,805.8348 which
at $ 1 = I R : 69.59 equates to US$ 327.71.

On the other the G D P of Terroristan is as per the State Bank of Tertroristan’s Terroristan External Debt and Liabilities – Outstanding the GDP (Current Market Price) of Terroristan is US$ 277.206 Billion.

Thus, These Three Indian Companies will have US$ 50 Billion change i.e. the Worth of the Pakistan Stock Exchange!

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Re: Pakistani Economic Stress Watch

Postby nachiket » 16 Apr 2019 23:52

It is fascinating what the paki ruling class has been able to accomplish. Every time someone lends them money they are counting on the fact that when the time comes to pay it back, someone else will lend the pakis more money to do so, whilst themselves expecting the same for that loan and so on. The lenders get interest and their money back, pakis stave off bankruptcy and the cycle continues. Meanwhile mango abdul wallows in poverty and nothing changes on the ground while the paki elites send their own kids to Kaneda and Amreeka.

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Re: Pakistani Economic Stress Watch

Postby mmasand » 17 Apr 2019 01:48

nachiket wrote:It is fascinating what the paki ruling class has been able to accomplish. Every time someone lends them money they are counting on the fact that when the time comes to pay it back, someone else will lend the pakis more money to do so, whilst themselves expecting the same for that loan and so on. The lenders get interest and their money back, pakis stave off bankruptcy and the cycle continues. Meanwhile mango abdul wallows in poverty and nothing changes on the ground while the paki elites send their own kids to Kaneda and Amreeka.


I think it's the price the world pays to ensure it doesn't become a failed state, in which case, it becomes everyone's headache with loose nukes moving in the back of edhi ambulances.

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Re: Pakistani Economic Stress Watch

Postby Kashi » 17 Apr 2019 06:43

mmasand wrote:I think it's the price the world pays to ensure it doesn't become a failed state, in which case, it becomes everyone's headache with loose nukes moving in the back of edhi ambulances.


Yet the world (read the US) seems to not extend the same "courtesy" to other nuclear or quasi-nuclear states such as NoKo and Iran.

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Re: Pakistani Economic Stress Watch

Postby yensoy » 17 Apr 2019 06:51

Peregrine wrote:
sudhan wrote:Saar, combined revenues of India's top 6 companies (IO + ONGC + RI + TM + SBI + BP) is greater than the size of the entire Bakistani economy..
sudhan Ji :

On the other the G D P of Terroristan is as per the State Bank of Tertroristan’s Terroristan External Debt and Liabilities – Outstanding the GDP (Current Market Price) of Terroristan is US$ 277.206 Billion.
Thus, These Three Indian Companies will have US$ 50 Billion change i.e. the Worth of the Pakistan Stock Exchange!


Sir let's compare apples with apples. GDP, size of economy or revenue is a measure of flow of money, whereas market capitalization is just amount of money (value) standing still. Value is like the price of a house, flow is the rent on the house. Valuations can be huge compared to flow or small, depending on prevailing interest rates and risk profiles. For this reason, I prefer the Revenue of top 6 > GDP of Pak, where both sides of the inequality are money flows.

I am waiting for the day when IPL economy (all up, including secondary effects) is larger than Pak economy.

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Re: Pakistani Economic Stress Watch

Postby Paul » 17 Apr 2019 10:25

Per Dawn, Pakistan does not have a ministry of Transport...show the nascent state the logistics sector is in that country

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Re: Pakistani Economic Stress Watch

Postby habal » 17 Apr 2019 10:44

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Re: Pakistani Economic Stress Watch

Postby Manish_P » 17 Apr 2019 11:19

Kashi wrote:
mmasand wrote:I think it's the price the world pays to ensure it doesn't become a failed state, in which case, it becomes everyone's headache with loose nukes moving in the back of edhi ambulances.


Yet the world (read the US) seems to not extend the same "courtesy" to other nuclear or quasi-nuclear states such as NoKo and Iran.


Just because you have your own poodle doesn't mean that you will feed or take care of the neighbours guard dogs.. especially when the neighbours use them to keep you off what they consider to be their backyard

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Re: Pakistani Economic Stress Watch

Postby Kashi » 17 Apr 2019 11:23

Manish_P wrote:Just because you have your own poodle doesn't mean that you will feed or take care of the neighbours guard dogs.. especially when the neighbours use them to keep you off what they consider to be their backyard


And that's the ticket. The payments are for the upkeep of the poodle, not necessarily because of the the fear of nukes (that we already know that Bakis have not).

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Re: Pakistani Economic Stress Watch

Postby yensoy » 17 Apr 2019 12:44

Paul wrote:Per Dawn, Pakistan does not have a ministry of Transport...show the nascent state the logistics sector is in that country


Actually they have a great Logistics Cell but it is run by the Pakfauj (great because they used a good part of the largesse given to them by Khan to build a decent network of highways to high standards, purportedly to help Khan move containers into Afg but as you can guess for all sorts of purposes like landing F16s and moving around missiles). https://en.wikipedia.org/wiki/National_Logistics_Cell

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Pakistani Economic Stress Watch

Postby Peregrine » 17 Apr 2019 15:24

US denies duty-free market access to Pakistan - Zafar Bhutta

ISLAMABAD: The Trump administration has turned down Pakistan’s demand for duty-free market access to the US for its products, disclosed a prime minister’s aide.

“We want duty-free market access for Pakistan’s exports to the United States, but Trump is a main hurdle,” Adviser to Prime Minister on Commerce, Textile and Industry Abdul Razak Dawood said during a meeting of the National Assembly Standing Committee on Commerce and Textile on Tuesday.

The adviser said the government would again try to approach the US administration after the end of President Donald Trump’s tenure.

Pakistan sought the duty relief after the US withdrew concessions given to India and Turkey. Pakistan is eying to take a big share of the US market by taking advantage of the scrapping of duty concessions for the two countries, which are major competitors of Pakistan in the international market.

Dawood revealed that China had agreed to relax duty on more Pakistani goods under phase-II of the free trade agreement (FTA-II), which would be signed on April 28 during the visit of Prime Minister Imran Khan to Beijing.

He was of the view that internal politics in China had caused the delay in inking the FTA-II. “The Chinese ambassador told me that internal politics in China delayed the FTA-II between Pakistan and China for six years,” Dawood remarked.

He disclosed that the Chinese trade minister was not willing to offer duty concessions on the export of 313 Pakistani goods, but the Chinese foreign minister and prime minister were in favour of giving duty-free access to such products.

The PM adviser pointed out that the matter had been delayed for years as Pakistan had approached China in 2014 seeking duty-free access for more goods. Now, the Chinese foreign minister and prime minister are ready to approve the package.

“China has agreed to provide duty-free market access to 313 Pakistani goods under the FTA-II like the Asean grouping,” he said, adding that Pakistan may be able to enhance exports to China by $1-2 billion because of the duty relief.

Talking about Pakistani markets being flooded with Chinese products, Dawood said Chinese products were being smuggled from Dubai, adding that the government was working on a plan to amend the law under which certificates of origin would be required for the export of goods from Pakistan.

He said Turkey had refused to offer duty concession on the export of leather and textile products from Pakistan. “Turkey has warned it wants to impose 27% additional duty on the export of these products. It will result in reducing Pakistani exports further.”

He pointed out that FTA talks with Turkey had failed miserably and Pakistan’s exporters had also not been able to explore the potential of Indonesian markets, though Jakarta offered concessions on 20 products.

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sudhan
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Re: Pakistani Economic Stress Watch

Postby sudhan » 17 Apr 2019 17:35

yensoy wrote:
Peregrine wrote:sudhan Ji :

On the other the G D P of Terroristan is as per the State Bank of Tertroristan’s Terroristan External Debt and Liabilities – Outstanding the GDP (Current Market Price) of Terroristan is US$ 277.206 Billion.
Thus, These Three Indian Companies will have US$ 50 Billion change i.e. the Worth of the Pakistan Stock Exchange!


Sir let's compare apples with apples. GDP, size of economy or revenue is a measure of flow of money, whereas market capitalization is just amount of money (value) standing still. Value is like the price of a house, flow is the rent on the house. Valuations can be huge compared to flow or small, depending on prevailing interest rates and risk profiles. For this reason, I prefer the Revenue of top 6 > GDP of Pak, where both sides of the inequality are money flows.

I am waiting for the day when IPL economy (all up, including secondary effects) is larger than Pak economy.



Another burn worthy stat for the Pakis would be that these 6 companies have a combined manpower of < 700,000, over 330 times less number of people to provide economic output greater than their entire nation...

If only there was economic value addition in sitting around and passing wind..

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Re: Pakistani Economic Stress Watch

Postby Peregrine » 17 Apr 2019 17:59

B S E Celebrates Mahavir Jayanti with a Holiday - P S E Celebrates it by Going DOWN!

P S E

Index Current : 36,752.57 - Pt. Change : -629.38 - % Change : -1.68%

Market Capitalization of PSE Listed Co. (Rs.Tr.) : 7,484,479,094,302 - $ 1 / T R 142.30

Market Capitalization of PSE Listed Co. (US $) : 52.60 Billion

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Re: Pakistani Economic Stress Watch

Postby Vips » 17 Apr 2019 19:03

Pakis are hopeful of getting to increase their exports to China under the new FTA by $1-2 billion but wait till we see how much increase the Chinese exports to pakistan will be under the new regime :D
Turkish people are ok with lip service to the pakis when it comes to giving them support but when the pakis try to cash it birather mulk Turkey not only not give it but imposes additional duties on them :lol:
So here is the fact 'close friends' are Turkey and China who offer no love to the pakis but they expect 'enemy' USA to give concessions to them :rotfl:

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Pakistani Economic Stress Watch

Postby Peregrine » 18 Apr 2019 03:59

Heavy rains, hail devastate wheat crop in Punjab - Rana Amir Aslam
LAHORE / BHAKKAR: Stormy weather prevailed in the province, claiming the life of a minor in Lahore night. Meanwhile, standing wheat and gram crops were flattened to the ground in the wake of torrential rain and hail storms.
Rains decimate crops in Bhakkar Crops in Bhakkar have been decimated due to recent rains, strong winds and hail storms. Farmers have incurred substantial losses and are demanding that the government take notice of the situation.
Standing wheat and gram crops, sown on millions of acres in the district, have been flattened to the ground by the wind and rain while in other areas, the ears of the wheat crops have broken away.
Typically around this time of year, growers have harvested and packaged the crop to sell it onwards. Several landlords stated that according to their estimates, the recent rains have caused a significant financial loss while the wheat and gram crops have also suffered irreparable damage. Further, mango and date orchards were also not spared. Farmers say that the government should provide relief to growers from the affected area.

Further, all municipal committees have been directed to ensure that all sewerage lines and drains are cleaned on a timely basis
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Re: Pakistani Economic Stress Watch

Postby A_Gupta » 18 Apr 2019 07:58

nachiket wrote:It is fascinating what the paki ruling class has been able to accomplish. Every time someone lends them money they are counting on the fact that when the time comes to pay it back, someone else will lend the pakis more money to do so, whilst themselves expecting the same for that loan and so on. The lenders get interest and their money back, pakis stave off bankruptcy and the cycle continues. Meanwhile mango abdul wallows in poverty and nothing changes on the ground while the paki elites send their own kids to Kaneda and Amreeka.


When the great Musalman landlords of the Punjab of British India lived way beyond their means and could not pay back their loans from Hindu moneylenders, the British intervened with legislation that essentially forgave their debt.

The world has **always** bailed them out. It would be a shock if it didn’t happen.

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Pakistani Economic Stress Watch

Postby Peregrine » 18 Apr 2019 15:28

X Posted on the Terroristan Thread

A sad Umar removed as finance minister

Pakistan Tehreek-e-Insaf (PTI) government on Thursday removed Asad Umar as finance minister.

In a tweet the finance minister confirmed that as part of a cabinet reshuffle the PM had desired that Umar take the energy minister portfolio instead of finance which he refused. Rats being made to Leave the Sinking Ship! :rotfl:

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Re: Pakistani Economic Stress Watch

Postby Bart S » 18 Apr 2019 15:35

That he is a grade A moron and incapable of delivering in that role is a given, but he is basically being made a scapegoat for the wider failures and failed promises of firstly Dimran and his PTI, and secondly the 'establishment' who selected them.

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Re: Pakistani Economic Stress Watch

Postby abhijitm » 18 Apr 2019 15:54

Looks like casualty of recent IMF talks

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Re: Pakistani Economic Stress Watch

Postby Bart S » 18 Apr 2019 16:34

abhijitm wrote:Looks like casualty of recent IMF talks


Could be, he did a lot of foolish and public trash talking about the IMF just after their elections selections, and the IMF might have 'suggested' that they need somebody more appropriate in place before the moolah was released.

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Re: Pakistani Economic Stress Watch

Postby Vikas » 18 Apr 2019 17:02

Nothing moves in Shittistan with Army approval. He might have offended some low level Brigadier or recently promoted Lt. Gen from Health core and has paid the price. I think Dim-Kan should appoint some ex-Fauji for this role of FM.

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Re: Pakistani Economic Stress Watch

Postby Vips » 18 Apr 2019 17:58

He is being made a scapegoat for increasing the prime lending interest rates and exchange rate. He was offered the energy and power ministry but he realized that these sectors would be having the next round of price/tariff increase and hence declined. Paki channels are full of reports that Im the charsi has two different groups in his cabinet and there is jostling for supremacy. Asad Umar aka failed Engro CEO is just the first wicket to fall. Interesting times ahead :)

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Re: Pakistani Economic Stress Watch

Postby habal » 18 Apr 2019 18:21

Omer Ayub Khan, grandson of Field Marshal Ayub Khan takes over from Asad Umar, son of Maj Gen Ghulam Umar as Finance Minister of Pakistan

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Re: Pakistani Economic Stress Watch

Postby sanjaykumar » 18 Apr 2019 19:38

There are very strong parallels between Pakistan and Haiti. From colour difference between the ajlaf and ashfraf to the control of the economy.


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