Pakistani Economic Stress Watch

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Peregrine
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Pakistani Economic Stress Watch

Postby Peregrine » 13 Jan 2020 17:59

Why Pakistan runs low on productivity
AN improvement in productivity is at the heart of development. The future of countries where productivity levels are falling is certainly compromised.
According to APO’s Productivity Databook 2019, productivity in Pakistan, a founding member, is lower than other countries. It grew at the annual rate of 1.4 per cent in Pakistan from 2000 to 2017 as opposed to 3.9pc in Bangladesh, 5.8pc in India and 8.5pc in China.
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Pakistani Economic Stress Watch

Postby Peregrine » 13 Jan 2020 18:01

S&P BSE SENSEX

Index Current : 41,859.69 - Pt. Change : +259.97 - % Change : +0.62

Market Capitalization of B S E Listed Co. (Rs.Cr.) : 1,58,75,374.98 – $ 1 / I N R = 70.8950

Market Capitalization of B S E Listed Co. (U S $.) : 2,239.28 Billion

P S E

Current Index : 43,218.67 – Change : 11.62 - %t Change 0.03% - High : 43,453.34 – Low : 43,037.72

Market Capitalization of P S E Listed Co. (Rs.Tr.) : 8,093,400,569,289 -$ 1 / T R = 155.20

Market Capitalization of P S E Listed Co. (U S $.) : 52.15 Billion

B S E : P S E : : 42.94 : 1


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Pakistani Economic Stress Watch

Postby Peregrine » 14 Jan 2020 18:08

In Pakistan, car sales slump 38% to 12,069 units in Dec - Our CorrespondentK
ARACHI: The auto sector continued to suffer as sales for December 2019 slumped 38% on a year-on-year basis following sluggish demand in the market coupled with high lending rates for automobile financing. Demand had remained subdued due to frequent hike in prices by automakers on account of high cost of production.
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Pakistani Economic Stress Watch

Postby Peregrine » 14 Jan 2020 19:09

S&P BSE SENSEX

Index Current : 41,952.63 - Pt. Change : +92.94 - % Change : +0.22

Market Capitalization of BSE Listed Co. (Rs.Cr.) : 1,59,33,294.72 - $ 1 / I N R = 70.9675

Market Capitalization of BSE Listed Co. (U S $.) : 2,245.15 Billion

P S E

Current Index : 43,207.04 – Change : -11.63 - % Change : -0.03% - High : 43,468.22 – Low : 43,095.41

Market Capitalization of PSE Listed Co. (Rs.Cr.) : 8,080.585,896,732 - $ 1 / T R = 155.10

Market Capitalization of PSE Listed Co. (U S $.) : 52.10 Billion

B S E : P S E : : 43.09 : 1


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Pakistani Economic Stress Watch

Postby Peregrine » 14 Jan 2020 19:21

Prices of consumer goods soared unusually high in 2019
KARACHI: 2019 proved a tough year for the consumers in terms of rising living costs fuelled by record-high food inflation.
With no effective price checking mechanism at provincial and city government levels despite several meetings by Prime Minister Imran Khan on the price stability issue, the market stakeholders this year had set a highest benchmark for various commodities such as wheat flour, vegetables, chicken, pulses, red meat, CNG etc.
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Pakistani Economic Stress Watch

Postby Peregrine » 15 Jan 2020 00:36

The burn of hot money - Mehtab Haider.
In the blind pursuit of hot money, Pakistan’s economic managers are foolhardily focused on generate dollar inflows by from abroad by selling short-term Treasury Bills (T-bills) and Pakistan Investment Bonds (PIBs) at higher rates.
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Pakistani Economic Stress Watch

Postby Peregrine » 16 Jan 2020 01:30

S&P BSE SENSEX

Index Current : 41,872.73 - Pt. Change : -79.90 - % Change : -0.19%

Market Capitalization of BSE Listed Co. (Rs.Cr.) : 1,59,74,124.74 - $ 1 / I N R : 70.9175

Market Capitalization of BSE Listed Co. (U S $.) : 2,252.49 Billion

P S E

Current Index : 42,993.03 – Change : -214.01 - % Change : -0.5% - High : 43,239.88 – Low : 42,877.90

Market Capitalization of PSE Listed Co. (Rs.Tr.) : 8,058,700,222,429 – $ 1 / T R = 155.10

Market Capitalization of PSE Listed Co. (U S $.) : 51.79

B S E : P S E : : 43.49 : 1


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Pakistani Economic Stress Watch

Postby Peregrine » 16 Jan 2020 01:54

X Posting on the Terroristan Thread

Housing society approved for PAF martyrs defrauded people of billions, NAB tells court
An accountability court on Wednesday extended the remand of two detained builders for 14 more days in connection with a probe into reports of fraud in the Fazaia Housing Scheme Karachi (FHSK).
During the hearing today, the court was informed about how the land was acquired in the name of ‘shuhada (martyrs) and war heroes’, but hardly any units were allotted to the same. The investigation officer also highlighted how some Pakistan Air Force (PAF) officials had lured their own peers into purchasing housing units and made millions in the process.
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Pakistani Economic Stress Watch

Postby Peregrine » 16 Jan 2020 17:32

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Postby Peregrine » 16 Jan 2020 17:37

S&P BSE SENSEX

Index Current : 41,932.56 - Pt. Change : +59.83 - % Change : +0.14

Market Capitalization of BSE Listed Co. (Rs.Cr.) : 1,60,22,479.94 - $ 1 / I N R = 70.9800

Market Capitalization of BSE Listed Co. (U S $.) : 2,257.32 Billion

P S E

Current Index : 43,065.10 – Change : 72.08 - % Change : 0.17% - High : 43,205.26 – Low :42,805.73

Market Capitalization of PSE Listed Co. (Rs.Tr.) : 8,064,121,886,364 - $ 1 / T R = 155.0000

Market Capitalization of PSE Listed Co. (U S $.) : 52.03 Billion

B S E : P S E : : 43.39 : 1


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Pakistani Economic Stress Watch

Postby Peregrine » 16 Jan 2020 17:45

Consumers brace for higher cooking oil, flour prices
KARACHI: After enduring a Rs5 per kg hike on various flour varieties, consumers on Wednesday witnessed another price shock of Rs30 per kg/litre in ghee and cooking oil.
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Pakistani Economic Stress Watch

Postby Peregrine » 17 Jan 2020 22:07

S&P BSE SENSEX

Index Current : 41,945.37 – Change : +12.81 - % Change : +0.03

Market Capitalization of BSE Listed Co. (Rs.Cr.) : 1,60,57,157.62 - $ 1 / I N R = 71.1050

Market Capitalization of BSE Listed Co. (U S $.) : 2,258.23 Billion

P S E

Current Index : 43,167.77 – Change : 102.68 - % Change : 0.24% - High : 43,246.61 – Low : 43,017.50

Market Capitalization of PSE Listed Co. (Rs.Cr.) : 8,085,137,606,387 - $ / T R = 155.20

Market Capitalization of PSE Listed Co. (U S $.) : 52.10 Billion

B S E : P S E : : 43.34 : 1


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Re: Pakistani Economic Stress Watch

Postby Vips » 18 Jan 2020 19:57

Pakistan gets record foreign investment hot money in T-bills.

Porkis are touting the hot money as "investments" :rotfl: . The PTI ministers/supporters and other HNI porkis are making a killing by sending money through hawala abroad and bringing back in and getting interest at 10-11% . Similarrly anybody can borrow at 2% from abroad and invest in Pakistan for a 8% spread. :lol:

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Pakistani Economic Stress Watch

Postby Peregrine » 19 Jan 2020 02:29

Country faces flour crisis: Wheat quota of 180 flour mills stopped in Punjab

LAHORE: As the country is facing a serious flour crisis, Punjab Chief Minister Sardar Usman Buzdar on Friday took notice of a news item aired on the media regarding unilateral increase in flour price in some districts of the province.
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Re: Pakistani Economic Stress Watch

Postby Bart S » 19 Jan 2020 03:28

Peregrine wrote:Country faces flour crisis: Wheat quota of 180 flour mills stopped in Punjab

LAHORE: As the country is facing a serious flour crisis, Punjab Chief Minister Sardar Usman Buzdar on Friday took notice of a news item aired on the media regarding unilateral increase in flour price in some districts of the province.
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Sheeda Talli has a rational explanation for it:
https://www.geo.tv/latest/268058-sheikh ... price-hike
“In December and November, people eat more bread than usual,” :roll: the minister said at a press conference.

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Re: Pakistani Economic Stress Watch

Postby Vips » 20 Jan 2020 20:31

Pakistan urges US to get it out of FATF grey list.

Pakistan has urged the US to support its bid to exit from the grey list of the FATF ahead of a key meeting of the international terror financing watchdog in Beijing in which it will scrutinise Islamabad's efforts to adopt stricter laws against terror financing and money laundering. (Sure sign that pakistan knows that it will not pass muster during the review of the steps it took to stop terror financing)

A Pakistani delegation arrived in Beijing on Sunday for the three-day faceto-face talks with the Financial Action Task Force Working Group that
would start on January 21. The briefing will go over whether Pakistan has complied with an earlier agenda presented to it by the Paris-based
financial task force, The News reported.

The Pakistani delegation is being led by Minister for Economic Affairs Division Hammad Azhar and comprises representatives of National Counter Terrorism Authority (Nacta), the foreign ministry, the State Bank of Pakistan (SBP), among others.

The FATF in October+ decided to keep Pakistan on its 'Grey' list for failure to curb funnelling of funds to terror groups LeT, JeM and others. If not removed off the list by April, Pakistan may move to a blacklist of countries that face severe economic sanctions, such as Iran.

Pakistan has submitted a 650-page review report to the FATF on January 8. The report was submitted in response to 150 questions raised by the FATF regarding new Pakistani policies on money laundering. The report outlined the steps taken by 1/20/2020 Pakistan urges US to get it out of FATF grey list - Pakistan between October 2019 to January 2020 to implement the group's recommendations.

Foreign Minister Shah Mehmood Qureshi at a media briefing in Washington on Friday said that Pakistan hoped the US would back its efforts to get it off the list at the FATF's Beijing meeting, the Dawn newspaper reported. “This meeting is very important for us as it leads to a plenary meeting in Paris in April where the world body will decide whether Pakistan remains on the list or is taken off,” he said.

Qureshi concluded his three-day visit to the US on Friday after a series of meetings with key US lawmakers and officials, including Secretary of State Mike Pompeo and National Security Adviser Robert O'Brien.

The foreign minister spent the week touring Iran, Saudi Arabia and the US on a diplomatic mission meant to defuse tensions between Washington and Tehran.

At his news briefing, Qureshi also urged the US to review its travel advisories for Pakistan and encourage investments in the country. US travel advisories still present Pakistan as a country Americans should avoid travelling because of terrorism threats.

Asked why the FATF's Beijing meeting was important, Qureshi said that decisions taken in China's capital would also impact the Force's Paris plenary, which would decide whether Pakistan stayed in or was taken off the grey list.

“We want our American friends to tell us what's their policy,” he said. “You share with us what measures you have taken or intend to.” (The sheer chutzpah) The minister acknowledged that removal from the FATF list could not happen overnight, but said that the US could enhance its engagements with Pakistan while waiting for the removal.

Qureshi noted that in his meetings with Prime Minister Imran Khan last year, US President Donald Trump had said that he wanted to see Pakistan off the FATF grey list. “So, we expect US officials to work for it now.” The foreign minister said Islamabad had taken several concrete steps to meet FATF demands and the time had come for the US to fulfil President Trump's pledge. :rotfl:

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Pakistani Economic Stress Watch

Postby Peregrine » 20 Jan 2020 20:56

S&P BSE SENSEX

Index Current : 41,528.91 - Pt. Change : -416.46 - % Change : -0.99%

Market Capitalization of BSE Listed Co. (Rs.Cr.) : 1,59,28,030.02 - $ 1 / I N R = 71.1675

Market Capitalization of BSE Listed Co. (U S $.) : 2,238.10 Billion

P S E

Current Index : 42,747.63 – Change : -420.13 - % Change : -0.98% - High : 43,302.61 – Low :42,632.58

Market Capitalization of PSE Listed Co. (Rs.Tr.) : 8,033,932,566,642 - $ 1 / T R = 155.15

Market Capitalization of PSE Listed Co. (U S $.) : 51.78 Billion

B S E : P S E : : 43.22 : 1


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Pakistani Economic Stress Watch

Postby Peregrine » 20 Jan 2020 21:06

Why circular debt isn’t dying away - Nasir Jama

The Pakistani hole keeps getting deeper no matter what.

The circular debt — or the power-sector arrears described as the cash shortfall within the Central Power Purchasing Agency (CPPA) that it cannot pay to power supply companies — was Rs100 billion heftier at the end of the first half of 2019-20 from six months ago.
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Pakistani Economic Stress Watch

Postby Peregrine » 20 Jan 2020 21:19

SBP poured $24b into inter-bank market between two IMF programmes - Shahbaz Rana
ISLAMABAD: The State Bank of Pakistan (SBP) pumped a colossal $24 billion into the inter-bank market during interim periods of the last two International Monetary Fund (IMF) programmes to defend the exchange rate.
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Re: Pakistani Economic Stress Watch

Postby chetak » 20 Jan 2020 21:25

Vips wrote:Pakistan urges US to get it out of FATF grey list.

Pakistan has urged the US to support its bid to exit from the grey list of the FATF ahead of a key meeting of the international terror financing watchdog in Beijing in which it will scrutinise Islamabad's efforts to adopt stricter laws against terror financing and money laundering. (Sure sign that pakistan knows that it will not pass muster during the review of the steps it took to stop terror financing)

A Pakistani delegation arrived in Beijing on Sunday for the three-day faceto-face talks with the Financial Action Task Force Working Group that
would start on January 21. The briefing will go over whether Pakistan has complied with an earlier agenda presented to it by the Paris-based
financial task force, The News reported.

The Pakistani delegation is being led by Minister for Economic Affairs Division Hammad Azhar and comprises representatives of National Counter Terrorism Authority (Nacta), the foreign ministry, the State Bank of Pakistan (SBP), among others.

The FATF in October+ decided to keep Pakistan on its 'Grey' list for failure to curb funnelling of funds to terror groups LeT, JeM and others. If not removed off the list by April, Pakistan may move to a blacklist of countries that face severe economic sanctions, such as Iran.

Pakistan has submitted a 650-page review report to the FATF on January 8. The report was submitted in response to 150 questions raised by the FATF regarding new Pakistani policies on money laundering. The report outlined the steps taken by 1/20/2020 Pakistan urges US to get it out of FATF grey list - Pakistan between October 2019 to January 2020 to implement the group's recommendations.

Foreign Minister Shah Mehmood Qureshi at a media briefing in Washington on Friday said that Pakistan hoped the US would back its efforts to get it off the list at the FATF's Beijing meeting, the Dawn newspaper reported. “This meeting is very important for us as it leads to a plenary meeting in Paris in April where the world body will decide whether Pakistan remains on the list or is taken off,” he said.

Qureshi concluded his three-day visit to the US on Friday after a series of meetings with key US lawmakers and officials, including Secretary of State Mike Pompeo and National Security Adviser Robert O'Brien.

The foreign minister spent the week touring Iran, Saudi Arabia and the US on a diplomatic mission meant to defuse tensions between Washington and Tehran.

At his news briefing, Qureshi also urged the US to review its travel advisories for Pakistan and encourage investments in the country. US travel advisories still present Pakistan as a country Americans should avoid travelling because of terrorism threats.

Asked why the FATF's Beijing meeting was important, Qureshi said that decisions taken in China's capital would also impact the Force's Paris plenary, which would decide whether Pakistan stayed in or was taken off the grey list.

“We want our American friends to tell us what's their policy,” he said. “You share with us what measures you have taken or intend to.” (The sheer chutzpah) The minister acknowledged that removal from the FATF list could not happen overnight, but said that the US could enhance its engagements with Pakistan while waiting for the removal.

Qureshi noted that in his meetings with Prime Minister Imran Khan last year, US President Donald Trump had said that he wanted to see Pakistan off the FATF grey list. “So, we expect US officials to work for it now.” The foreign minister said Islamabad had taken several concrete steps to meet FATF demands and the time had come for the US to fulfil President Trump's pledge. :rotfl:



every time the pakis find their tiny testimonials gripped painfully in a vice, they "expect" the others to help them and BACK OFF.

when will these paki terrorist goons ever understand that they themselves have willingly placed their own paki testimonials in said vice.
:mrgreen:

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Re: Pakistani Economic Stress Watch

Postby g.sarkar » 21 Jan 2020 00:57

Peregrine wrote:SBP poured $24b into inter-bank market between two IMF programmes - Shahbaz Rana
ISLAMABAD: The State Bank of Pakistan (SBP) pumped a colossal $24 billion into the inter-bank market during interim periods of the last two International Monetary Fund (IMF) programmes to defend the exchange rate.
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No wonder Pak Kernails and Gernails are welcome to settle in Western countries after retirement. They have serious money to throw around.
Gautam

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Re: Pakistani Economic Stress Watch

Postby VinodTK » 21 Jan 2020 03:39

Peregrine wrote:Country faces flour crisis: Wheat quota of 180 flour mills stopped in Punjab

LAHORE: As the country is facing a serious flour crisis, Punjab Chief Minister Sardar Usman Buzdar on Friday took notice of a news item aired on the media regarding unilateral increase in flour price in some districts of the province.
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Pakistan to import 300,000 tonnes of wheat to meet flour crises

ISLAMABAD (Reuters) - Pakistan on Monday approved the import of 300,000 tonnes of wheat to relieve a shortage of flour supplies that has created a crisis for the government of Prime Minister Imran Khan.

Prices of flour and bread shot up last week as the ingredient disappeared from shops and wholesale markets, while bread makers shut in protest at what they called government pressure to sell the staple at controlled prices.

"It is not possible for me to sell bread for eight rupees a piece if I buy flour bags at high prices," said Sheraz Khan, a shopkeeper in the garrison city of Rawalpindi, next to Islamabad, the capital.
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Re: Pakistani Economic Stress Watch

Postby Vips » 21 Jan 2020 04:26



PTI leaders have profited first from the Wheat/Flour exports (which experts had warned not to due to limited production in pakistan), then in shortage through hoarding by big traders and now again in importing the same :rotfl:

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Pakistani Economic Stress Watch

Postby Peregrine » 21 Jan 2020 22:57

Cotton production declines to 8.3m bales
MULTAN: Cotton production fell by 20.26 per cent to 8.303 million bales till Jan 15 this season against 10.456m bales in the same period last year, the Pakistan Cotton Ginners Association (PCGA) said on Saturday.
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Pakistani Economic Stress Watch

Postby Peregrine » 21 Jan 2020 23:06

S&P BSE SENSEX

Index Current : 41,323.81 - Pt. Change : -205.10 % - Change : -0.49

Market Capitalization of BSE Listed Co. (Rs.Cr.) : 1,58,67,633.55 - $ 1 / I N R = 71.1850

Market Capitalization of BSE Listed Co. (U S $.) : 2,229.38 Billion

[url=psx.com.pk]P S E[/url]

Current Index : 42,626.48 – Change : -121.14 - % Change : -0.28% - High : 42,965.41 – Low : 42,338.79

Market Capitalization of PSE Listed Co. (Rs.Tr.) : 8,014,820,411,904 - $ 1 / T R = 154.95

Market Capitalization of PSE Listed Co. (U S $.) : 51.73

B S E : P S E : : 43.10 : 1


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Pakistani Economic Stress Watch

Postby Peregrine » 21 Jan 2020 23:18

Pakistan's free trade deal with China unlikely to yield much - Usman Hanif

KARACHI: Although Pakistan has got a mammoth opportunity to increase its exports by billions of dollars under phase-II of the China-Pakistan Free Trade Agreement (CPFTA-II), experts fear that the dream may not materialise due to shrinking economy and de-industrialisation in the country.

“Pakistan may not be able to take advantage of opportunities under CPFTA-II,” said Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Mian Anjum Nisar and Vice President Sheikh Sultan Rehman in a statement.

“We may not be able to reap benefits under CPFTA-II despite elimination of duties on 313 tariff lines covering most of Pakistan’s exports,” said the FPCCI chief.

He pointed out that during phase-I of the China-Pakistan FTA, the balance of trade remained greatly in favour of China, which managed to export 57% of its product lines while Pakistan could take advantage of only 5% of its product lines.

Pakistan exported approximately $2.1 billion worth of goods every year in the first phase while imports from China stood above $17 billion that created a trade gap of roughly $15 billion in favour of China.

The FPCCI vice president questioned as to how the country could benefit from the agreement when it did not have surplus products to export due to the shrinking economy.

He highlighted the fact that industrial output was declining because of de-industrialisation over the past few years.

Serious issues like high interest rate, frequent increase in power and gas tariffs, shortage of gas for industries, abrupt changes in government policies, rampant smuggling, delay in refunds to exporters and an overall hostile environment are making it difficult for the industries to sustain their existence.

“I agree to a great extent [with the FPCCI president] as in 2019 China gave us additional access for $1 billion but we could not benefit from it,” said Prime Minister’s Economic Advisory Council member Dr Abid Qaiyum Suleri while talking to The Express Tribune

“We can only increase exports by $300 million just because we do not have anything to sell.”

An official of the Commerce Division said “there are two ways of working in an international market; first is that you have a product and you try to get access to the market of a country while the other is you first take market access and then get investment in production.”

Once the country got the access, the financiers would come and invest in the product as they could see the market ahead of them.

“There are only around 75 out of 313 products under the FTA which Pakistan doesn’t have the capability to produce while the rest it can produce; it is just a matter of time,” he added.

Explaining, the official said if China imported those 313 products from anywhere else, they would be expensive and Pakistan could make them cheaper, therefore, Pakistan had the capacity and business sense, which would result in increased trade soon.

“This FTA may produce results in future as investors possibly will come and make investment in those goods which can be exported to China,” said Suleri.

The FPCCI president urged the government to urgently develop a robust industrial policy that would lead to massive industrialisation in the country, encourage research and development, innovation, diversification and development of new products, improve quality standards and enhance technical skills of the labour force.

He also urged Chinese companies to enter into joint ventures with Pakistani manufacturers and relocate their industries to the Special Economic Zones. “These efforts will significantly raise industrial output, enabling Pakistan to take advantage of CPFTA-II,” he said.

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Pakistani Economic Stress Watch

Postby Peregrine » 21 Jan 2020 23:32


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Re: Pakistani Economic Stress Watch

Postby VKumar » 21 Jan 2020 23:59

Bhutto said we will eat grass but make a nuclear bomb. Now they don't even have grass to eat. Wheat is a grass.

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Pakistani Economic Stress Watch

Postby Peregrine » 22 Jan 2020 00:01

Disconnect between the rulers and the ruled - Kamran Yousaf

When the Prime Minister’s statement, taking notice of soaring flour prices, was flashed on news channels, it was further evidence that the ‘tabdeeli’ that we were promised is now a thing of the past. The people of Pakistan are accustomed to such ‘swift actions’ from their rulers. Contrary to the government’s toll claims, a latest public opinion survey shows that a majority of the people have lost faith in the current dispensation. The Ipsos, a global marketing and research firm, in one of its surveys, reveals that only 21% people believe that the PTI government’s economic policies are taking the country in the right direction while 79% have lost all hopes that the government can turn things around. This is a serious indictment for a government which promised much more. Many PTI supporters were questioning the findings of the survey and its real motive. For a while, keep aside the public opinion surveys and just visit any street of the country — one will only get the sense of despondency among the people from all classes.

In the last two months, I got a chance to interact with some of the country’s leading economists. We couldn’t find, despite our best efforts, any known economist who would defend the government’s economic policies. Over the last few weeks, we invited on our TV show The Review some of the big names like Dr Hafeez Pasha, Dr Syed Akbar Zaidi, Dr Kaiser Bangali, Dr Zubair Khan and Dr Ashfaq Ahmed. All of them were of the view that with current economic policies, the country is going nowhere. Dr Pasha was of the view that with the interest rate as high as 13.25%, the wheel of the economy cannot run. Dr Zubair, who was once considered close to Imran Khan, is also upset and has no hopes of the government coming good on its promises. He shares Dr Pasha’s views that the high interest rate is killing the economy and having a devastating impact on every segment of society. Dr Ishfaq, who was bitterly averse to going to the IMF, says that the stabilisation process and the devaluation of the rupee have cost Pakistan dear. Dr Sayed Akbar Zaidi, who was recently appointed as Executive Director, Institute of Business Administration (IBA), says while the government may have successfully addressed the current account deficit problem, the question is: at what cost? He insists that the cost of this economic stabilisation is too huge to have any positive impact on our economy. Zaidi minced no words in saying that the promises of 10 million jobs and 5 million houses are now just a pipedream. Dr Kaiser Bangali has portrayed even more negative a picture. He claims that Pakistan’s economy is still on a ventilator. If the current policies continue, Dr Bangali says, there is hardly any room for improvement. Instead, he fears the situation will only get worse.

Even though from independent economists, these views are understood not to go down well with the government and its supporters. The government has no or little appetite to digest objective criticism. Such are the priorities of this government that there is even the talk of social media restrictions. This shows that PM Imran Khan, like his predecessors, is allergic to criticism. One of the reasons why Dr Zubair parted ways with the PM was because the latter thought the renowned economist always painted the doomsday scenario. If the government really wants to restore some hope among the masses, it must encourage objective criticism. But that seems to be a tall order for the government which is fast losing its credibility.

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Pakistani Economic Stress Watch

Postby Peregrine » 22 Jan 2020 00:07

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Peregrine
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Pakistani Economic Stress Watch

Postby Peregrine » 22 Jan 2020 01:40

PIA awards Rs700m contract to dubious company
ISLAMABAD:-In a scandalous deal, the Pakistan International Airlines (PIA) have awarded a contract of Rs700 million for the up-gradation of In Flight Entertainment (IFE) in eight Boeing 777 aircraft to a local company which was registered only two months before the tender was floated.
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Manish_P
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Re: Pakistani Economic Stress Watch

Postby Manish_P » 22 Jan 2020 10:08

VKumar wrote:Bhutto said we will eat grass but make a nuclear bomb. Now they don't even have grass to eat. Wheat is a grass.


Someone should explain that to this chacha


Peregrine
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Pakistani Economic Stress Watch

Postby Peregrine » 22 Jan 2020 18:56

Blacklisted firms got CPEC project contracts, says Wells

ISLAMABAD: Senior US diplomat Alice Wells on Tuesday renewed criticism of China-Pakistan Economic Corridor (CPEC), impliedly urging Islamabad to rethink its involvement with it.

Amb Wells’ speech at a think tank event, which was attended by members of academia and representatives of civil society, criticised the flagship project of China’s One Belt One Road Initiative.

She alleged that there was no transparency in CPEC projects, claiming Pakistan’s debt burden was growing due to the Chinese financing.

While her arguments looked like a repeat of the remarks she had earlier delivered at the Wilson Centre in Washington on Nov 21, 2019, the claims were renewed during her Islamabad trip a few days after Foreign Minister Shah Mehmood Qureshi sought closer engagement and a robust trade and investment relationship between Pakistan and the US.

FM Qureshi had also sought help from the US to get the country off the Financial Action Task Force (FATF) grey list.

While reiterating the allegations against CPEC, Amb Wells said companies blacklisted by the World Bank had got contracts in the CPEC.

The US diplomat also questioned the immunity from prosecution for the newly formed CPEC Autho­rity that served as the focal body working to identify new areas of cooperation and projects, besides facilitation, coordination and monitoring of ongoing projects.

About the debt problem, Amb Wells insisted that Chinese money was not assistance. By getting Chinese financing for the projects, Pakistan was buying expensive loans and as a buyer it needed to be aware of what it was doing as this would take a heavy toll on its already struggling economy, she contended.

The diplomat also touched on the cost escalation in railways ML-1 upgrade project. The link connects Karachi with Peshawar. She urged the government to be transparent about the mega project.

A Foreign Office statement, meanwhile, said US Acting Assistant Secretary of State for the Bureau of South and Central Asian Affairs Alice Wells met Foreign Secretary Sohail Mahmood.

The agenda of the meeting largely comprised bilateral issues including the prospects of intensifying political engagement and expanding economic partnership. “It was emphasised that a strong trade and investment relationship was key to advancing the shared vision of the leadership of both countries for a long term, broad-based and enduring partnership,” the statement said.

While talking about human rights abuses by Indian troops in the occupied Kashmir and Delhi’s aggressive actions against Pakistan, including intensified LoC ceasefire violations, Mr Mahmood emphasised the need for international community to play its role for ending the rights violations and peaceful resolution of the dispute.

About peace and stability in Afghanistan, the foreign secretary reaffirmed Pakistan’s resolve to continue to support the peace process and pursue positive development in Pak-Afghan relations. Pakistan also remained committed to supporting the efforts for de-escalation of tensions and promoting the prospects of a diplomatic way forward on the differences and disputes in the Middle East, he said.

In a meeting with Special Assistant to the Prime Minister Nadeem Babar at the energy ministry office, Amb Wells said the US was ready to enhance cooperation with Pakistan in the energy sector especially in the renewable energy. Mr Babar proposed cooperation in tapping Pakistan’s Shale reserves, specialised training, investments in LNG infrastructure development, renewable energy and other avenues

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bhavani
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Re: Pakistani Economic Stress Watch

Postby bhavani » 22 Jan 2020 21:14

After the Wheat shortage, Pakis are now facing shortage of Sugar. There is something going at the structural level in Pakistan.

Economic activity as whole seems to be decreasing. Even the most basic activity like agricultural activity seems to be stagnating or dying.

The junta will soon step in, Imran's days are definitely numbered.

Wheat is too expensive
Sugar is too expensive
Goat/Chicken Meat is Uber expensive
Dals are super expensive
GHee is touching sky

When basic commodity prices start touching the sky, unrest will be generated in the general public, which is very dangerous for a military ruled country but is fronted by a political set up.

The political set up will definitely take the hit.

It will be funny when Imran is ousted by the Junta.

Peregrine
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Pakistani Economic Stress Watch

Postby Peregrine » 23 Jan 2020 01:58

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Pakistani Economic Stress Watch

Postby Peregrine » 23 Jan 2020 03:31

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Pakistani Economic Stress Watch

Postby Peregrine » 23 Jan 2020 18:32

S&P BSE SENSEX

Index Current : 41,386.40 - Pt. Change : +271.02 - % Change : +0.66

Market Capitalization of BSE Listed Co. (Rs.Cr.) : 1,59,33,837.22 - $ 1 / I N R = 71.2950

Market Capitalization of BSE Listed Co. (U S $.) : 2,234.92 Billion

P S E

Current Index : 42,506.95 – Change : 54.32 - % Change : -0.13% - High : 42,906.14 – Low : 42,439.68

Market Capitalization of PSE Listed Co. (Rs.Cr.) : 7,939,715,271,897 - $ 1 / T R =155.30

Market Capitalization of PSE Listed Co. (U S $.) : 51.13 Billion

B S E : P S E : : 43.71


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Peregrine
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Pakistani Economic Stress Watch

Postby Peregrine » 23 Jan 2020 22:02

In Pakistan, foreign loan disbursement jumps 156% to $5.5 billion - Shahbaz Rana
ISLAMABAD: Pakistan saw a 156% surge in disbursement of foreign loans that increased to $5.5 billion in first half of the current fiscal year but non-project loans rose to 84% of the total receipts, which could compound Islamabad’s debt sustainability issues.
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Peregrine
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Pakistani Economic Stress Watch

Postby Peregrine » 24 Jan 2020 01:50

Pakistan slips to 5-year low in graft perception index - Shahbaz Rana
ISLAMABAD: In a blow to credibility of the ruling PTI, Pakistan’s ranking on global corruption perception index has slipped to five-year low of 120 out of 180 nations, highlighting further erosion of people’s confidence in the government which came into power with the slogan of accountability.
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Pakistani Economic Stress Watch

Postby Peregrine » 24 Jan 2020 16:50

Human security predicament - Dr Moonis Ahmar
According to news reports, the price of wheat flour — which is a staple diet and used by the overwhelming majority — has reached Rs70 per kilogram. There has been an increase of Rs20 per kilogram in the price of wheat flour since August last year. The price of sugar, another essential commodity, as well as the prices of food items, like chicken and vegetables, and petroleum products have more than doubled over the last 15 months.
Economic crisis is like a time bomb and a major human security predicament for Pakistan. With a population of 220 million people, but blessed with enormous natural resources, Pakistan is experiencing the worst kind of situation as far as the purchasing power of an ordinary citizen is concerned. Punjab, called the bread basket of Pakistan, is unable to produce sufficient wheat and other agricultural products. The wheat crisis is compelling the government to import hundreds of thousands of tons of the staple diet from abroad.
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