Pakistani Economic Stress Watch

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Peregrine
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Pakistani Economic Stress Watch

Postby Peregrine » 05 Jun 2019 14:23

UlanBatori wrote:Back around 2000 Pakistan had only 143 million terrorists (I mean, pakistanis). Today more than 200 million despite so many soosai bummers? They sure are doing SOMETHING a lot more and better than India, hain? :eek: Fortunately they're 90% inbred.
UlanBatori Ji :

The Terroristani now claim they have been working hard and now they have increased their Terroristans by the Grace of the All Magnanimous, All Magnificent, All Merciful, All Mighty and All Omnipotent Allah to the figure of 220 Million.

However IMHO their Hard Work has resulted in the Figure of 250 Million or More.

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Re: Pakistani Economic Stress Watch

Postby Peregrine » 05 Jun 2019 14:53

Trikaal wrote:So in summary, everyone except China and Saudi Arabia lend more than they get. Everyone of them is betting on this Ponzi scheme paying out at the end. I can't believe I am saying this but it seems like it is China and Saudi Arabia that are the smart ones. They are the only ones reducing their liability.
Trikall Ji :

Your Post 05 Jun 2019 10:03

You struck the iron when it was hot and you hit the nail on its head!

Perfectamente!

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Re: Pakistani Economic Stress Watch

Postby Supratik » 05 Jun 2019 15:08

Pakistan defence budget cut. By how much?

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Re: Pakistani Economic Stress Watch

Postby ArjunPandit » 05 Jun 2019 17:00

Supratik wrote:Pakistan defence budget cut. By how much?

basically a precursor to saying am abdul should buy more from fauji foundation..and abdul jawans may not get salaries every month and jihadis may have to do unpaid internships and some expendable oldies have to do probono work

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Pakistani Economic Stress Watch

Postby Peregrine » 05 Jun 2019 17:23

sudhan wrote:Peregrine Ji,

I would like to add a bit more context to their budget quagmire..

Their last budget had a spending outlay of PKR 5.9 trillion.. We could assume that their current spending will be around 15% higher..

That would bring it to PKR 6.8 trillion = $45.34 billion

Defence + Debt servicing = PKR 4 trillion = $26.67 Billion

The Pindi walas can take a bite out of the already think pie anytime... as noted in the article above..

The Rs1.270 trillion worth of defence expenditure is exclusive of military pensions, strategic nature expenses, and special military packages, according to the ministry officials.
Rest of development budget for a nation > 200 million people will be less than PKR 2.8 trillion = $18.67 Billion

Provided the lunatics from pindi dont stick their dirty fingers in the pie again..

As a comparison, India spends 4.6% of its GDP on education alone.. (that is over a $ 100 b)

Pakistan is truly a land of punishment..
sudhan Ji :

With All Due Respect and Reverence Terroristan is on a Hiding to Nothing!

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Pakistani Economic Stress Watch

Postby Peregrine » 05 Jun 2019 19:09

In rare move, Pakistan military agrees to budget cut amid economic woes – Reuters

ISLAMABAD: Pakistan's powerful military has agreed in a rare move to cut its hefty budget for a year to help ease the South Asian country's "critical financial situation", Prime Minister Imran Khan said.

Pakistan has struck an agreement in principle with the International Monetary Fund for a $6 billion loan but Islamabad is expected to put in place measures to rein in a ballooning fiscal and current account deficits to get access to the funds.

The IMF has said the primary budget deficit should be trimmed by the equivalent of $5 billion, but previous civilian rulers have rarely dared to trim defence spending for fear of stoking tension with the military.

Unlike some other civilian leaders in Pakistan's fragile democracy, Khan appears to have good relations with the generals who have ruled the nuclear-armed nation for nearly half its history since independence in 1947. “Misery doth acquaints a man with strange bedfellows.”

Pakistan's de facto finance chief, Hafeez Shaikh, on June 11 is due to announce spending plans for the financial year beginning in July.

Under Pakistan's devolved system, the federal government must hand over more than half its budget to the provinces, and the remainder is mostly eaten up by debt servicing and the military's vast budget.

Khan late on Tuesday tweeted that he appreciated the military's "unprecedented voluntary initiative of stringent cuts in their defence expenditures" for next financial year because of the country's "critical financial situation".

This will allow money to be spent on the development of the tribal regions bordering Afghanistan, still recovering from more than a decade-long Islamist insurgency, and violence racked Baluchistan province, Khan added.

The previous government hiked military spending by 20 percent to 1.1 billion, but the military appears to have overshot that figure amid a flare up in tensions with arch-foe India.

Khan did not say by how much defence spending would be trimmed.

A military spokesman said the "voluntary cut" in the defence budget for a year would not be at the expense of security.

"We shall (maintain) effective response potential to all threats," he added on Twitter.

Pakistan has one of the world's largest armies but critics say the military's spending is unnecessary and holds the country back in key areas such as health and education. More than 40 percent of the population is illiterate.

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Re: Pakistani Economic Stress Watch

Postby K Mehta » 06 Jun 2019 10:51

CalvinH wrote:How? Did US-Iraq war benefitted Pakistan. It may lead to completely opposite of what you mention. Oil prices will go through the roof leading to more pressure on Paki economy. with Saudi backing US and Pakistan backing Saudis Paki will see more internal conflicts between Shia and Sunni.

Plus if US is able to have a favorable government in Iran they won’t need Pakistan to manage AFG.

Yes it did, it was used as a base for staging ops. Jacobabad is still in use as a US base. And we know how much money they have got as CSF. And the Afghan war is more pertinent.
Many bases in Balochistan have been used by America and it is right next to Iran. The main target will be strait of Hormuz and guess which naval base is sitting at the entrance of the strait.
Oil prices are being taken care of by Saudis. See how they are bankrolling them and ask yourself why is Saudi bankrolling Pakistan. Notice how Pakistan is no longer badmouthing US.
With the kind of ruthless oppression Pak army does, Shia Sunni question does not arise. Notice how Lashkar e Jhangvi has been wiped out, they were the anti Shia militia.

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Re: Pakistani Economic Stress Watch

Postby K Mehta » 06 Jun 2019 11:25

This news is actually misleading. It is a voluntary cut on increase in budget. Budget of Pak fauj will still increase, just the amount of increase is reduced.

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Re: Pakistani Economic Stress Watch

Postby RKumar » 06 Jun 2019 17:48

We should give PA/PAF a helping hand, increase the intensity on and across the border.

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Re: Pakistani Economic Stress Watch

Postby Vips » 06 Jun 2019 17:58

We can help the Paki defence forces increase their budget by increasing our defence allocation by at least 10% in out forthcoming budget on Jul 5. It is our duty as a good neighbor to help the paki armed forces reinforce their status as the first claimant to all paki resources. :wink:

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Re: Pakistani Economic Stress Watch

Postby khan » 07 Jun 2019 22:05

Vips wrote:We can help the Paki defence forces increase their budget by increasing our defence allocation by at least 10% in out forthcoming budget on Jul 5. It is our duty as a good neighbor to help the paki armed forces reinforce their status as the first claimant to all paki resources. :wink:

No need for that. Just keep the border warm with shelling & the occasional air-strike.

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Re: Pakistani Economic Stress Watch

Postby dhyana » 09 Jun 2019 13:22

In case of no waiver from IMF (The News)

ISLAMABAD: The government is all set to present budget 2019-2020 on June 11 based on unrealistic revenue target of Rs5.5 trillion, which will be prone to slippages from performance criteria on every quarter review by the IMF.

In case of no waiver from the IMF, the government will come up with a mini-budget after every review to avoid default on the revenue target with more measures on taxation making the PTI government most unpopular.

If the government does not come up with a mini-budget to avoid the masses wrath, then the IMF programme loan of $6 billion will stand suspended multiplying the economic miseries of the country.

However, the IMF that seems highly influenced by the Trump administration will extend the waiver only when Pakistan will totally show readiness to cooperate on non-economic issues such as cooperation on issues related to Afghanistan and terrorism up to the satisfaction of the US.


In case of no waiver, there’s going to be a danger for the country of being declared a defaulter. So the government is left with no option but to achieve the revenue target.

In order to avoid the slippages from the target and waiver from the IMF as well, Pakistan will have to increase the GST from 17 percent to 20 percent in the mini-budget if it fails to achieve the target after the first quarter.

One percent GST means the revenue of Rs80 billion and three percent means accumulation of Rs240 billion more in revenue.

According to eminent economist Dr Hafeez Pasha, the government also needs to have a contingency plan if it defaults on achieving targets in every quarter.

He suggested that under this scenario the government had to come up with a contingency plan for increase in GST up to 20 percent and increase import duty from 2 to 5 percent.

“This will immediately give the required relief to the government on the revenue side to keep the default away,” he said.

However, Dr Pasha said during the PTI government rule so far, about 10,00,000 people had lost jobs and in the next budgetary year 10,00,000 more will get unemployed while 45,00,000 people will go blew the poverty line, as the economy of $313 billion has shrunk to $280 billion which will further reduce to $260 billion in the next budgetary year.

Mentioning the revenue target, he suggested that the government to do away with all tax exemptions available to the affluent class.

...

On the expenditure side, according to the senior official at the finance ministry, the defence budget, including pensions of army personnel, is estimated to end at Rs1250 billion showing more expenditure of Rs150 billion in the ongoing financial year. However, for next budgetary year, the statement from the COAS came up saying that the armed forces will not seek increase in the defence budget keeping in view the no fiscal space available with the government, is a plausible gesture.

In the first nine months of the current fiscal, the defence budget increased by 24 percent and if the pensions are also included, then expenditure on defence got increased by 30 percent. However, by June 30, 2019, the expenditure on defence is estimated to culminate at Rs1250 billion from the budgeted amount of Rs1100 billion showing an increase of Rs150 billion.


The increase in the defence budget in the current financial year is because of small scale war with India following Pulwama incident. Still Pakistan is at war with India and its forces are on high alert on the western border with Afghanistan. In addition, the forces are busy maintaining peace in Fata areas fighting militants.

Similarly, the expenditure on debt servicing has also jacked up by 24 percent in the first 9 current fiscal months of ongoing financial year.

In the next budgetary year, according to Dr Pasha, the expenditure on debt servicing is going be Rs2.8 trillion. In 2017-18, the amount fixed for debt servicing stood at Rs1.5 trillion which scaled up in 2018-19 to over Rs2 trillion.


Unfortunate that they might be superficially getting their economic house in order. One upside is that their GDP should hopefully continue to crater. I wait for the day it is less than that of Greece (which by all rights should be even lower than it is, but for the immense IMF support given to it).

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Pakistani Economic Stress Watch

Postby Peregrine » 09 Jun 2019 16:05

Govt has no option but to slap at least 7.5% GST - Shahbaz Rana

ISLAMABAD: The pre-budget talks between the government and industrialists on contentious issue of withdrawal of tax concessions and energy subsidies have ended, as tax authorities claim to gain some ground due to a rift between exporters and local suppliers.

The government of Prime Minister Imran Khan has no option but to slap at least 7.5% General Sales Tax at manufacturing stage to end abuse of zero tax facility for exporters of five sectors and meet a key condition of the International Monetary Fund (IMF).

Against the new proposed GST rate of 7.5%, the IMF wants that all concessional taxation rates should end from July and the textile sector should also be charged at 7.5%.The Minister of State for Revenue Hammad Azhar on Saturday told the industrialists about the IMF’s condition to end concessionary taxation regime.

The government plans to collect minimum Rs80 billion by bringing the domestic sales of five-export oriented sectors into the tax net from July. It faces a gigantic task of collecting Rs5.550 trillion in taxes next year – a goalpost that needs over 42% growth in revenues.

At present, the textile, garments, leather, surgical goods and sports goods enjoy zero-sales tax facility on their exports, which the Federal Board of Revenue believes is also misused by the industrialists by manufacturers declaring their domestic sales as exports. The concessionary sales tax regime is protected under Statutory Regulatory Order 1125.

A final round was held between the government and the industrialists at FBR Headquarter on Saturday before the presentation of the budget in the National Assembly on Tuesday.

The industrialists appeared divided between the ones who largely rely on exports and those whose goods end up in local markets.

Rs600b additional taxes likely in budget

The All Pakistan Textile Mills Association (Aptma) indicated to accept the new taxation regime subject to the condition that the sales tax rate for exports and imports must be same at 7.5% and their refunds be paid by commercial banks the moment they receive export proceeds.

However, industrialists like Zubair Motiwalla and Jawed Bilwani plainly refused to accept the government’s new tax regime, threatening to go on strike after the budget.

The situation appears to be worsening for Prime Minister Imran who is already facing a threat of judicial movement due to his decision to file a reference against Justice Qazi Faiz Issa – the judge of Supreme Court of Pakistan.

The sales tax levy matter will now be discussed with PM Imran on Sunday, according to the government officials.

“We apprised them (industrialists) of revenue loss of Rs80 billion annually on local sales of textile products, misuse of Duty and Tax Remission Scheme (DTRE) and the use of sales tax inputs collected on local production to claim export refunds,” Azhar told The Express Tribune.

The energy subsidy given to them is also being used to produce goods for local market, said the minister.

“We are close to a workable mechanism to address all these concerns,” said Azhar, while vowing to go ahead with the government’s plan to impose the tax at manufacturing stage.

Pakistan to pay $9.3b in external debt servicing

The total cost to the exchequer on account of taxes foregone on local sales of textiles due to zero rating, energy subsidies, misuse of DTRE and inputs of local sales being used to claim export refunds collectively amount to more than Rs200 billion annually, according to the finance ministry and FBR’s estimates.

The misuse of zero rating for local sales and using their inputs to claim refunds on exports needs to be stopped, they added.

The exporters have long been availing concessionary loans, subsidised energy and huge tax reliefs. Yet, the total exports of the country remained slightly negative during first ten months of this fiscal year.

“The talks between the government and the value added sector have failed and all the associations will observe strike if the government still goes ahead with its plan to withdraw zero rating facility,” said Bilwani, Chief Coordinator of Five Zero rated Export sectors, while talking to The Express Tribune.

He claimed that the representatives of the export-oriented sectors did not budge from their position of ‘No Payment No Refund’. He announced to address a press conference on Monday at Karachi Press Club.

The industrialists demanded continuity of energy subsidies on gas and electricity. The government is currently providing the imported RLNG at $6.5 per mmbtu and domestic gas at Rs600 per unit without distinction between local sales and exports.

The government is considering withdrawing the energy sector subsidies being availed on production used in the local markets.

The Aptma also demanded that there should be a new SRO 1125 defining indirect and direct exports based industry for the purpose of energy package which should cover the entire sector as already agreed in various meetings.

According to another demand of Aptma, the imposition of 7.5% GST should cover all imports at standardised rates. Any imports currently attracting more than 7.5% should also be brought to the new rate of 7.5% including all types of fibres, yarn, greige fabrics, all types of made ups and apparels, chemicals, packaging materials, all imports of raw materials imported under DTRE and other schemes.

Aptma has demanded that the 7.5% GST refunds should be measured on Freight on Board basis with effect from July 1 of this year. The refunds should be paid by the commercial banks at the time of submission of complete shipping documents.

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Pakistani Economic Stress Watch

Postby Peregrine » 09 Jun 2019 19:24

While we await Terroristani Budget and Economic Survey 2018-2019, possibly Tomorow, here are the Figures for comparison :

1. Terroristan Economic Survey 2017-2018

GROSS NATIONAL PRODUCT AT CURRENT PRICES - TABLE 1.5

Gross Domestic Product : Rs. 32,406,956

Gross National Product (mp) : Rs. 36,213,746 Million i.e. 36,213.747 Billion

Population (in million) : 200.96 :rotfl:

P C I (Rs) : 180,204 - U S $ 1,640.5 – Rate : US$ 1 = TRs 109.85

2. Pakistan's External Debt and Liabilities - Outstanding Provisional - (Million US$)

THIRD QUARTER 2018-2019 - G D P (Current Market Price) = US$ 273.445 Billion - Rate of TSP Rupee / US$ 1 = 140.7

Guidance : Various Articles in the Terroristani Press have referred to the TSP Population of 220 Million.

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Pakistani Economic Stress Watch

Postby Peregrine » 11 Jun 2019 03:52

PSE has Tanked and Gone Down Through the Floor in comparison with BSE which has Posted a Modest Gain as Under :

S&P BSE SENSEX

Index Current : 39,784.52 – Pt. Change : +168.62 - % Change : +0.43

Market Capitalization of BSE Listed Co. (Rs.Cr.) : 1,53,55,989.95 - $ 1 / 69.7700

Market Capitalization of BSE Listed Co. (Rs.Cr.) : 2,200.95 Billion

P S E

Current Index : 34,567.55 – Change : -937.74 - % Change : -2.71%

Market Capitalization of PSE Listed Co. ( T Rs.) : 6,995,808,757,017 - $ 1 / 150.7375

Market Capitalization of PSE Listed Co. (U S $.) : 46.41 Billion

B S E : P S E : : 47.42 : 1


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Re: Pakistani Economic Stress Watch

Postby Rishirishi » 11 Jun 2019 04:40

Azim Premji was asked to move to Pakistan. Wipro has a market cap of some 25 Billon Dollars. Half of TSP market cap.
Guess it is safe to say he made the right decision :rotfl: .

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Pakistani Economic Stress Watch

Postby Peregrine » 11 Jun 2019 05:32

Per my Post 11 Jun 2019 03:52: GDP {Total of GVA at bp (A + B + C)} 35,952,419

Gross National Product (mp) 41,071,880

Population (in million) : 204.65

Per Capita Income(Rs) 200,693

Per Capita Income(US $) 1 : 1,497.3 US$ 1 / Tr Rs 134

Terroristan Economic Survey 2018 – 2019

Where as in my Post 09 Jun 2019 19:24 the US$ / Tr Rs last day weighted avg. exchange rate was 140.7

Per the latest Economic Survey 2018-2019 is Average US$ 1 / Tr Rs 134 for the Full Year!

Terroristanis are Cheaters Cheater Pumpkin Eaters as the latest Eco. Survey 2018-2019 GROSS NATIONAL PRODUCT AT CURRENT PRICES – TABLE 1.5 has taken the US$ / Tr. Rs Rate as Tr. Rs 134!

If we take the Latest Rate from the SBP Right Hand Tape Rate is $ 1 / 150.7375

So one could safely say the US$/Tr. Rupee will be about 145 for the Per Capita Income at the End of Terroristani Financial Year on 30-06-2019 whereby the PCI will become US$ 1,384!

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Re: Pakistani Economic Stress Watch

Postby Peregrine » 11 Jun 2019 06:27

Rishirishi wrote:Azim Premji was asked to move to Pakistan. Wipro has a market cap of some 25 Billon Dollars. Half of TSP market cap.
Guess it is safe to say he made the right decision :rotfl: .
Rishirishi Ji :

I got home from a Celebration of India’s Victory over Australia at about 03:00 Hours today your above Post spurred ne to the following exertions :

The Market Cap of the following Indian Members of B S E at US$ 1 = IR 69.77 are :

1. T C S : US$ 119.99 Billion

2. RELIANCE INDUSTRIES LTD. : 119.83 Billion

3. HDFC Bank LTD : 95.33

4. HINDUSTAN UNILEVER LTD. : 57.38 Billion

5. H D F C : 342751.34 : 49.13 Billion

P S E are Pussies compared to the Market Cap of the above Top Indian Companies!

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Re: Pakistani Economic Stress Watch

Postby Aditya_V » 11 Jun 2019 19:26

after flirting at 146 levels Pakistani Rupee finally now near 152 levels. Phew, was worried about the recovery. Hope it continues to reach 200 levels soon and Paki miltary supplies come to a standstill.

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Re: Pakistani Economic Stress Watch

Postby ArjunPandit » 11 Jun 2019 20:19

how do they manage to all is well in news channels..their news channels show as if they are going to be next superpower in next 10 years ....

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Re: Pakistani Economic Stress Watch

Postby ranneel » 11 Jun 2019 21:41

Rishirishi wrote:Azim Premji was asked to move to Pakistan. Wipro has a market cap of some 25 Billon Dollars. Half of TSP market cap.
Guess it is safe to say he made the right decision :rotfl: .

His father was asked to move to Pakistan by Jinnah but he refused.

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Re: Pakistani Economic Stress Watch

Postby Atmavik » 11 Jun 2019 23:28

Aditya_V wrote:after flirting at 146 levels Pakistani Rupee finally now near 152 levels. Phew, was worried about the recovery. Hope it continues to reach 200 levels soon and Paki miltary supplies come to a standstill.


Ameen. On to double century and then to triple

You small hearted Hindus will never understand. Goal it to have a 1:8 ratio. U know the reason

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Pakistani Economic Stress Watch

Postby Peregrine » 11 Jun 2019 23:49


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Re: Pakistani Economic Stress Watch

Postby ArjunPandit » 12 Jun 2019 00:02

https://www.dawn.com/news/1487435/this- ... he-economy

dawn sambandh...

BUDGET week is here and we are already drowning in figures and terms such as ‘outlays’, ‘slippages’, ‘subsidies’ and ‘surcharges’. It is always hard to understand the technical phrases thrown our way, especially since newspapers and channels are aimed at the non-specialist.

And while the newspapers will be full of reports and analyses on the budget and the state of the economy in the days to come, this article is not going to be one of them. This is really not a piece on the economy.

It is just a recollection of memories of a subeditor who has never (ever) understood figures and budgets, along with ‘outlays’, ‘slippages’, ‘receivables’ and ‘zero ratings’, despite having spent two decades editing stories with all these fancy words. But what I do remember is that our (public) concern with and interest in the economy lasts only as long as the crises — and justifiably so.

It began with Nawaz Sharif’s second term. It seems as if the issues back then were no different from today; the economy was a big deal back then too. The contracts signed with the IPPs by the previous government of Benazir Bhutto were under fire for being unfair and extractive, while others kicked up a fuss about why longer-term and cheaper projects such as dams had been ignored.


It is just a recollection of memories of a subeditor who has never understood figures and budgets.
honesty
The electricity bills had become such a headache that military troops were called in to collect payments and many an article was written to warn of a creeping coup citing how the military was being used for responsibilities ideally in the domain of the executive.

And while shortly afterwards, Pervez Musharraf replaced Nawaz Sharif, the focus continued to be the economy as stories were written (and edited) on the low number of income tax payers (they were fewer than two million back then too) and what had to be done to fix this. But then 9/11 happened, and the electricity bills, the income tax base and the burden of excessive employees on state-owned organisations slowly became less urgent.

As this is not a piece on the state of the economy, it is hard to say what happened back then. And whether or not it was linked to our renewed importance to the West and the money flowing our way in the shape of Coalition Support Funds (which we learnt much later were used for budgetary support) and more. For non-specialists such as myself, our problems were behind us and we were now to live happily ever after.

But then politics (and journalism) in Pakistan is like a soap opera. Every so often, the storylines are repeated with a different cast of characters. Enter 2008 and the PPP. It was déjà-vu, with the talk once again of a narrow tax base, circular debt and how electricity bills were not being paid.

However, there was a twist in the old plot. The outsiders were lecturing us on this — publicly. Every American official passing through Pakistan in those days (and there were quite a few as Barack Obama’s White House shaped its Afghanistan policy) would chide the nation for not paying enough taxes. From Hillary Clinton to Richard Holbrooke and even the US ambassador in Islamabad, they could all be heard talking about the need to broaden the tax net and how Pakistan needed to use its water more effectively before it complained about India’s misuse of the water treaty.

If this was a piece on the economy, it would explain why the Americans were poking their nose in so much more than security issues and whether this had something to do with the continuing Coalition Support Funds and the Kerry Lugar Bill — but this is not a piece on the economy.

It is hard to remember clearly how much heed the government paid to the lectures. There is, though, a memory of an interaction with a diplomat in an undiplomatic mood. It was the summer of 2010 and he was running late because the Foreign Office had called a meeting unexpectedly, throwing his schedule off kilter. The meeting (called within hours) was to ask the international community to help in the aftermath of the floods that had hit Pakistan. He asked why a country needed to ask for help; surely the international community helped as much as it could during any natural disaster, but who calls a last-minute meeting just to beg for help? All I can remember is that I had no answers.

Had Pakistan become used to bailouts and ‘help’ so much so that it felt no qualms in directly asking for them? And was this in any way linked to the ‘difficult’ decisions we are now being told we have to take?

If this was an article on the economy, it would explain why these ‘difficult’ decisions have been pending for so long. And why the IMF continued to give 12 waivers to the country in the last programme when it seemed to have known that Pakistan had boosted growth “at the expense of rising vulnerabilities and lingering structural and institutional weaknesses”.

All I can say is that we seem to have come full circle to when I first dipped my toe in journalism — the same issues and the same sense of urgency as were there in the late 1990s. The tax net has to be broadened; electricity bills have to be paid; the burden of the loss-making state-owned enterprises is untenable; and some are even discussing the capacity charges of the power plants. It all sounds rather familiar — at least to those of us not familiar with the nitty-gritty of the economy.

If this was an article on the economy, it could have explained how we managed to not address the problems for so long. And the fear that this IMF programme will be the harshest yet. Why the earlier ones were less harsh, and whether the crises were less severe. Were the then governments more competent, or were those looking to help us more ‘charitable’? If this was an article on the economy, it might have explained all this.

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Pakistani Economic Stress Watch

Postby Peregrine » 12 Jun 2019 00:04

S&P BSE SENSEX

Index Current : 39,950.46 - Pt. Change : +165.94 - % Change : +0.42

Market Capitalization of BSE Listed Co. (Rs.Cr.) : 1,54,28,808.52 - $ 1 / I N R : 69.5675

Market Capitalization of BSE Listed Co. (U S $.) : 2,217.82 Billion

P S E

Current Index : 34,659.85 - Change : 92.30 - % Change : 0.27%

Market Capitalization of PSE Listed Co. (Rs.Tr.) : 7,021,286,445,860 - $ 1 / Tr. Rs 151.7060

Market Capitalization of PSE Listed Co. (U S $.) : 46.28 Billion

B S E : P S E : : 47.92 : 1


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Re: Pakistani Economic Stress Watch

Postby ArjunPandit » 12 Jun 2019 00:06

Pakistani budget:
Please make sure to ask your paki friends on tweeter to see if they can afford ghee or pay their bijli bills

Property can't be registered in the name of nonfilers.
Those who will provide jobs to new graduates will be given tax rebates; those passing out after 2017 to be considered as new graduates
Rs1.2mn was legal limit for income tax exemption — it will be reduced to Rs0.6mn for salaried persons and Rs0.4mn for others
The loophole of income declared as gifts will he closed as such gifts will be treated as income from other sources.
Super tax to be imposed on those with income above Rs0.5bn.
Withholding tax to be imposed on purchase of properties irrespective of the value of the property

Tax on services to be introduced
Tax on marble to be increased to 17pc
Tax on services to be introduced
Tax on sugary beverages to be increased to 13pc
Edible oil taxation to Rs40 per kg; FED on it to be increased
17pc sales tax on ghee, oil etc
Rs2 per kg on cement
ON CARS: FED not only on 1700c and above, but 2.5pc upto 1000cc, 7.5 on more than 2000cc
Rs5,200 tax per one thousand cig sticks, Rs117bn target of revenue from this measure
Refund bonds: FBR will settle tax refunds by issuing promissory notes
Active tax payer list issue will be resolved

Taxation on CNG to be increased
Cotton etc will be slapped with 10pc tax
Taxation on CNG to be increased
Sugar now taxed at 8pc and Rs18bn revenue is obtained from it, it is advised to increase to 17pc
Cottage industry: new definition is advised to include only those industries earning less than Rs2 million turnover per annum

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Pakistani Economic Stress Watch

Postby Peregrine » 12 Jun 2019 00:38

Ban on Pakistani artists in India disservice to both countries: Dia Mirza
Amidst deterioration of matter between India and Pakistan and a complete ban on cross-cultural exchange Bollywood actress Dia Mirza recently came forth speaking and offering her two cents in this regard.
The actress said she believes the ban on Pakistani artists in India is a disservice to both the countries.
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Pakistani Economic Stress Watch

Postby Peregrine » 12 Jun 2019 00:47

Public debt and liabilities swell to Rs35.09tr
ISLAMABAD: Pakistan’s public debt and liabilities (domestic and external) have been recorded at a worrisome figure of Rs35.0954 trillion by end-March 2019, which has more than doubled since 2013 when it was recorded at Rs16.338 trillion.
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Re: Pakistani Economic Stress Watch

Postby Karmasura » 12 Jun 2019 00:48

Pakistani defense budget increased from Rs 1.1 trillion in 2018 to Rs. 1.15 trillion in 2019.

Source: https://twitter.com/nailainayat/status/ ... 7534261250

Pakistan defence budget 2018: Rs1.1 trillion

Pakistan defence budget 2019-20: Rs1.15 trillion

Do tell if you find the 'cut' in greater national interest.

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Pakistani Economic Stress Watch

Postby Peregrine » 12 Jun 2019 01:26

Public debt and liabilities swell to Rs35.09tr
ISLAMABAD: Pakistan’s public debt and liabilities (domestic and external) have been recorded at a worrisome figure of Rs35.0954 trillion by end-March 2019, which has more than doubled since 2013 when it was recorded at Rs16.338 trillion.
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Re: Pakistani Economic Stress Watch

Postby ArjunPandit » 12 Jun 2019 01:33

game changer

Peregrine
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Re: Pakistani Economic Stress Watch

Postby Peregrine » 12 Jun 2019 01:43

Karmasura wrote:Pakistani defense budget increased from Rs 1.1 trillion in 2018 to Rs. 1.15 trillion in 2019.
Source: https://twitter.com/nailainayat/status/ ... 7534261250

Pakistan defence budget 2018: Rs1.1 trillion

Pakistan defence budget 2019-20: Rs1.15 trillion

Do tell if you find the 'cut' in greater national interest.
Kamasura Ji :

The Average Rate of the Terroristani Rupee IN JULY 2018 - JUNE is US$ 1 = Tr. Rs. 145.

Thus the Teroristani Defence Budget of Rs 1.15 Trillion would be equal to US$ 7.93 BILLION

This is Blasphemy of the Highest Order! :rotfl:

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Re: Pakistani Economic Stress Watch

Postby Karmasura » 12 Jun 2019 02:12

Thus the Teroristani Defence Budget of Rs 1.15 Trillion would be equal to US$ 7.93 BILLION


You are right in dollar terms it has decreased.

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Pakistani Economic Stress Watch

Postby Peregrine » 12 Jun 2019 02:15

PAKISTAN ECONOMIC SURVEY 2018-2019]38,558,769 @ PK Rs US$ 1 = PKR 145 PAKISTAN GDP = US$ 265.92 Billion

PRESS NOTE ON PROVISIONAL - INDIA - ESTIMATES OF ANNUAL NATIONAL INCOME, 2018-19 AND QUARTERLY ESTIMATES OF GROSS DOMESTIC PRODUCT FOR THE FOURTH QUARTER (Q4) OF 2018-19

STATEMENT 2: Provisional Estimates of National Income and Expenditures on GDP, 2018-19 ( At Current Prices) (crore)

On Friday 29-03-2019 – Last Working Day in March 2019 - Per my Post 18:33 – The last day in March 2019 – the rate was
$ 1 / IN Rs : 69.4825

GDP = Rs.19,010,164 = Rs.190,101.64 Billion @ US$ 1/ IN RS 69.2825 = US$ 2,743.86 Billion

Finally Indian GDP : Terroristani GDP : : 10.32 : 1

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Re: Pakistani Economic Stress Watch

Postby Vips » 12 Jun 2019 18:13

You kafir dont you know?
1 Paki (Na)mard-e-momin = 10 Yindoo
So Pakistani GDP : Indian GDP at 1 : 10.32 only means that Pakistani GDP is equal to Indian GDP.

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Re: Pakistani Economic Stress Watch

Postby disha » 12 Jun 2019 20:23

^I thought the equation has shifted. I thought it is now

1 Baki = 72 SDRE !?

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Re: Pakistani Economic Stress Watch

Postby uskumar » 12 Jun 2019 20:24

Another textbook crisis may be brewing in Asia

Pakistan's GDP is 28% lower than India's level, and the IMF expects the gap to keep widening.

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Re: Pakistani Economic Stress Watch

Postby vimal » 12 Jun 2019 22:23

^^ What the fark is economic times doing comparing puke with Bharat all the time. Why the desperate need to hyphenate the two? Can't they just report the facts about puke only?

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Pakistani Economic Stress Watch

Postby Peregrine » 12 Jun 2019 22:30

1. Tax loaded and bloated budget

8.2% deficit projected. Income tax threshold slashed. Customs duty on 2,400 tariff lines up.

2. PTI govt slaps Rs516b ‘unprecedented’ taxes - Shahbaz Rana
ISLAMABAD: The government on Tuesday slapped unprecedented Rs516 billion worth of additional taxes besides abolishing concessionary income tax regimes to generate an extra amount of over Rs350 billion in taxes.
Inflationary taxation measures have been proposed to qualify for the International Monetary Fund (IMF) programme that has asked Pakistan to achieve Rs5.550 trillion tax collection target in the fiscal year 2019-20.
The income tax exemption threshold has been halved for the salaried class to only Rs600,000 annual income and for the business people to only Rs400,000. This will massively reduce the disposable income of people amid an inflationary environment.
The government has abolished the non-filer tax regime and has proposed to arrest people who do transactions but remain outside the net by not filing their returns. It has proposed that property worth Rs5 million and above and assets worth Rs1million-plus can only be bought through banking channels.
Soft drinks, steel, cars, juices, sugar, cement, edible oil, and goods will become expensive from July.
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Re: Pakistani Economic Stress Watch

Postby Bart S » 12 Jun 2019 22:42

vimal wrote:^^ What the fark is economic times doing comparing puke with Bharat all the time. Why the desperate need to hyphenate the two? Can't they just report the facts about puke only?


It's not ET, the original source is Bloomberg and Andy Mukerhjee. Of course ET as a loyal sepoy is happy to reproduce verbatim foreign reports on India that have a biased and derisive western view.


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