Pakistani Economic Stress Watch

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Anujan
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Re: Pakistani Economic Stress Watch

Post by Anujan »

Niazi was ousted by a miffed Bajwa because dimran wanted Musharraf-al-bulleti-wifey as COAS. Move to a presidential system and rule for 10 years.

The politically astute one is ten percenti. Who did not want to become PM. Instead wants to set up his son as foreign minister so he gets to meet everyone in the world.
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Re: Pakistani Economic Stress Watch

Post by RCase »

Anujan wrote:https://tribune.com.pk/story/2398545/pa ... egin-today
Pakistan, already hurt by the unfulfilled commitments made by foreign nations promising cash deposits worth $5 billion, will today (Tuesday) lock horns with the International Monetary Fund (IMF) in one of the toughest negotiation sessions ever to revive the $6.5 billion bailout package.
Brave TFTAs facing IMF chest out to lock horns and fight!
The country now has foreign reserves worth only $3.1 billion left, sufficient only to cover two-weeks of imports.
If the forex reserves are at $3.1 B, wouldn't they technically have only $100 M left ($3 B is the Saudi money for safekeeping)? When they were around the $4 B mark, it was reported that they have a cover for about 3 weeks of imports. Seems like they will be hurtling faster into bankruptcy.

Well Ishaq Dar will lock horns with the IMF and refuse to take 'dictation'! Will they plead leniency due to nature's wrath of the recent earthquake?
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Re: Pakistani Economic Stress Watch

Post by Manish_P »

Manish_P wrote:
Yes. Seems high even factoring that this abdul will probably have 5-6 kids.
Yup...'Hum paach, Humarey pacchis' as assumed

Yawn - Looking for work that isn’t there
Shahbaz Ahmed (name changed to protect his identity), a machine operator who worked as a daily wager, has a similar ordeal to report. He lost his job at an auto parts unit in Korangi Creek almost six months ago, where he was earning Rs20,000 a month coupled with paltry overtime. But after losing his job, he has nowhere to turn. “Two months back, I tried my luck by setting up a cabin of confectionery items at Korangi No.6, but I was robbed twice,” Mr Ahmed disclosed.

According to him, he was taking care of a four-year-old daughter while three of his children have already passed away. Living in a joint family with four married brothers in an 80 square-yard house in Korangi No. 3, he said, “I cannot explain how I am surviving this economic crunch, especially after the massive jump in prices of food items and utility bills.”
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Re: Pakistani Economic Stress Watch

Post by Manish_P »

Anujan wrote:..

Only a few weeks till the famous Raakit Mards are out on the street. People here in Pee-aref have not seen Rakit Mards for so many years. We missed them.
Inshallah... but will there be fuel in the Raakit mards to take off - pindi channa, atta, oil all are in short supply ?
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Re: Pakistani Economic Stress Watch

Post by Manish_P »

Of course it is the donors lenders fault that they are not able to lend fast enough and at terms which are acceptable to Bakistan and its enchandee...

Yawn - IMF package is no panacea, reforms needed, experts say
Former SBP governor Raza Baqir said global lenders like the IMF must step up and improve the framework for sovereign debt financing to help emerging economies out of debt distress.
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Re: Pakistani Economic Stress Watch

Post by Dilbu »

What ‘stale’ hell!
The IMF team in Pakistan will continue the talks on the pending review. However, there is no surety that the talks will end at a staff-level agreement (SLA). The fiscal gaps are higher than what the government is showing. And the taxation measures the government is offering have quality issues. Unleashing the currency peg was a necessary but not sufficient condition for the IMF to come back.

There are two problems. One is the willingness of the government (due to political considerations) to take all the required steps. And the other is the capacity of the Ministry of Finance and the State Bank of Pakistan to negotiate and implement the steps in the right manner and fashion.
On the fiscal side, the bigger issue is the quality of taxes. IMF may not be happy with one-offs – such as windfall taxes on banking income. There must be a limit to squeeze any one sector. IMF is likely to be not happy with the proposition of withholding taxes on banking transactions. Then, enhancing import duties may not be well received by the IMF. The government needs to think about more sustainable taxation measures and work on broadening the base.
The communication of SBP is becoming weaker. In many instances, the institution likes to remain silent. And at times, communication does more damage. The signaling is weak in the markets. For example, a recent statement rebutted media claims of losing $3 billion in remittances and exports due to currency capping lacking substance. If the global slowdown and high inflation are reasons for the decline of Pakistani exports and remittances, why are these areas improving in other competitive countries? {Jou mean in SDRE India?} SBP cannot be exonerated from its policy of capital controls and currency peg. SBP cannot be exonerated by not taking its true independent position on paper.

These are the ground realities. The question is what would happen if there was no SLA? Will it result in clubbing of the 9th and 10th reviews? How will the reserves positions be managed if the IMF review is delayed? Honestly, there are no clear answers, only suppositions. One can find short-lived relief in knowing that it isn’t over till the fat lady sings.
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Re: Pakistani Economic Stress Watch

Post by Neela »

We should encourage all fathers of Pakis and Nepal to send Pork masala with Pilaf rice as aid.

Am sure they will appreciate it.
Like how Nepal received beef masala and rice during 2015 earthquake.
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Re: Pakistani Economic Stress Watch

Post by Parasu »

https://www.reuters.com/business/energy ... 023-01-31/

"Pakistan could face a crunch in fuel supplies in February as banks have stopped financing and facilitating payments for imports due to depleting foreign exchange reserves, traders and industry sources said."
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Re: Pakistani Economic Stress Watch

Post by Dilbu »

TSP is selling key national assets to foreign countries.
Govt offers its SOE stakes to 2 UAE firms
ISLAMABAD: The government has reportedly offered its stakes in five top State-Owned Entities (SOEs) to two top companies of the United Arab Emirates (UAE), well informed sources in Finance Division told Business Recorder.

The SOEs whose shares have been offered to key UAE entities are Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), National Bank of Pakistan (NBP), Pakistan International Airlines (PIA) and Pakistan National Shipping Corporation (PNSC).

According to sources, during the recent visit of Prime Minister Shehbaz Sharif to UAE on January 12-13, 2023, it was inter alia discussed with the UAE leadership regarding more market access for Pakistani products and UAE investment in Pakistan’s public sector entities.
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Re: Pakistani Economic Stress Watch

Post by Neela »

:rotfl:

Iran dangles threat of $18bn penalty over pipeline project
https://www.thenews.com.pk/print/103602 ... ne-project
In a new development, Iran has asked Pakistan to construct a portion of the Iran-Pakistan (IP) gasline project in its territory till February-March 2024, or be ready to pay a penalty of $18 billion
:rotfl: cant stop laughing. How these bunch of primitive clowns get to run a country is mindboggling .

I am gonna guess now that everything and everyone is up for sale in Pakistan.
Dont be surprised if people start selling kidneys on the road.
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Re: Pakistani Economic Stress Watch

Post by Manish_P »

Neela wrote:...
https://www.thenews.com.pk/print/103602 ... ne-project
In a new development, Iran has asked Pakistan to construct a portion of the Iran-Pakistan (IP) gasline project in its territory till February-March 2024, or be ready to pay a penalty of $18 billion
:rotfl: cant stop laughing. How these bunch of primitive clowns get to run a country is mindboggling .
...
From that article :-
Under the revised accord, Iran would not approach any international court if there was a delay in the construction of the pipeline, and neither would Pakistan pay any fine to Iran till 2024.
Cunning Pakis calculated that the Iranians would not be able to approach any international court even after 2024 to collect the fines anyway ...
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Re: Pakistani Economic Stress Watch

Post by Neela »

Manish ji
I think Pakis have to cough up after 2024.
So I checked the financing of the project. They asked Iran to finance it in 2016 and they showed Pakis the finger.
Since then, all news has dried up....until today.
My guess is Pakis are scouring for bakras.
They have to build 750km of pipeline in 12 months. :rotfl:
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Re: Pakistani Economic Stress Watch

Post by yensoy »

Manish_P wrote:Of course it is the donors lenders fault that they are not able to lend fast enough and at terms which are acceptable to Bakistan and its enchandee...
Yawn - IMF package is no panacea, reforms needed, experts say
This joker says
Open trade with India. Start work on the Turkmenistan-Afghan-Pakistan-India gas pipeline
In other words continue to be a rent seeking parasite. No thanks, we don't need your pipeline and all the baggage that comes with it.
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Re: Pakistani Economic Stress Watch

Post by Neela »

Why you should never say "There are no bad ideas" when brainstorming strategies.
@pakistan_untold
https://twitter.com/pakistan_untold/sta ... 1682475009
Lets go to West with Quran in one hand and nuclear bomb in another. They will immediately give us money.
.
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Re: Pakistani Economic Stress Watch

Post by RCase »

Neela wrote:Manish ji
I think Pakis have to cough up after 2024.
So I checked the financing of the project. They asked Iran to finance it in 2016 and they showed Pakis the finger.
Since then, all news has dried up....until today.
My guess is Pakis are scouring for bakras.
They have to build 750km of pipeline in 12 months. :rotfl:
Don't worry, there will be another Paki Chief Justice who will announce a fund to build the 750 km pipeline!
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Re: Pakistani Economic Stress Watch

Post by nandakumar »

Neela wrote:Manish ji
I think Pakis have to cough up after 2024.
So I checked the financing of the project. They asked Iran to finance it in 2016 and they showed Pakis the finger.
Since then, all news has dried up....until today.
My guess is Pakis are scouring for bakras.
They have to build 750km of pipeline in 12 months. :rotfl:
I can't see how Iran is going to enforce its claims on Pakistan. They can, at the most, seize some money due on some Basmati exports such as there are. It was evident all along that unless India came on board as Iran-Pakistan-India pipeline, it was sheer financial madness on the part of Iran to throw money on creating the pipeline infrastructure inside Iran borders and expect Pakistan to find dollars to finance its share of the pipeline cost.
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Re: Pakistani Economic Stress Watch

Post by Manish_P »

Bereham (adamant) IMF :((

Yawn - Govt rolls out first measures as IMF mission begins talks
On the opening day of make-or-break talks with the International Monet­ary Fund (IMF), the government on Tuesday increased liq­u­efied petroleum gas (LPG) price by 30 per cent and finalised a minimum of Rs 6 per unit average increase in electricity rates between now and August.

This was on top of an earlier hike in petroleum rates by up to 16pc, a rise of one percentage point in the central bank’s policy rate, and the removal of an exchange rate cap that led to over 14pc depreciation.

Still, the visiting IMF mission, led by Mission Chief to Pakistan Nathan Porter, sounded adamant on upfront, calibrated and strong measures to bridge the daunting fiscal gap — between Rs 2 trillion to Rs 2.5tr. “You don’t have any other option” was the critical message, as members of the mission engaged with the finance and power ministries led by Ishaq Dar and Khurram Das­tgir Khan, respectively, sources close to the meetings told Dawn.
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Re: Pakistani Economic Stress Watch

Post by vimal »

^^ How dare the white man tell Pakis have no other options? They have a lot of options being the atami mulk they are and tallel than bikawali and deepel than ditch friends.
Last edited by vimal on 01 Feb 2023 12:11, edited 1 time in total.
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Re: Pakistani Economic Stress Watch

Post by Dilbu »

Exports to nine regional states shrink
ISLAMABAD: Pakistan’s exports to nine regional countries shrank 11.93 per cent in the first half of FY23 mainly driven by a drop in shipments to China, data released by the State Bank of Pakistan showed on Monday.

The country’s exports to Afghanistan, China, Bangladesh, Sri Lanka, India, Iran, Nepal, Bhutan and the Maldives dipped to $1.897 billion — just 13.31pc of Pakistan’s total exports of $14.25bn in July-December FY23.

China tops the list of Pakistan’s regional exports leaving other populous countries India and Bangladesh behind. But Pakistan’s exports to China posted negative growth in the first half FY23 on a year-on-year basis. The bulk of the regional exports share, which accounts for 55.77pc, is with China while the remaining is for eight countries.
Steel industry warns of business closure
KARACHI: The country’s steel industry is in a dire situation, fearing business closure and widespread job losses as banks have failed to open letters of credit (LCs) for import.

Shortage of raw material, due to the inability to establish LCs, has led to production delays and financial losses for companies, despite recent relief announcements, according to the Pakistan Association of Large Steel Producers (PALSP).

PALSP Secretary General Wajid Bukhari said the steel industry was facing a critical situation as the State Bank of Pakistan (SBP) could not force commercial banks to open LCs, resulting in the closure of numerous steel businesses. He called on the government and the SBP to take immediate action to resolve the crisis and ensure the survival of steel industry.
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Re: Pakistani Economic Stress Watch

Post by CalvinH »

Dilbu wrote:TSP is selling key national assets to foreign countries.
Govt offers its SOE stakes to 2 UAE firms
ISLAMABAD: The government has reportedly offered its stakes in five top State-Owned Entities (SOEs) to two top companies of the United Arab Emirates (UAE), well informed sources in Finance Division told Business Recorder.

The SOEs whose shares have been offered to key UAE entities are Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), National Bank of Pakistan (NBP), Pakistan International Airlines (PIA) and Pakistan National Shipping Corporation (PNSC).

According to sources, during the recent visit of Prime Minister Shehbaz Sharif to UAE on January 12-13, 2023, it was inter alia discussed with the UAE leadership regarding more market access for Pakistani products and UAE investment in Pakistan’s public sector entities.
Pakistan Airlines? The entity is making billions in losses each year. Who would like to buy it after it has already surrendered its favored routes and time to other ME airlines.

PIA is also needed by all gernails, bureaucrats and politicians to place their kins in PIAs overseas post.
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Re: Pakistani Economic Stress Watch

Post by madhu »

I think we need to keep repayment schedule handy. here is below details.

Pakistan’s total debt and liabilities spiked by Pakistani Rupees (Rs) 12 trillion (source)

The official data further shows that the debt servicing of foreign loans was projected to stand at
1) $9.984 billion for 2023-24,
2) $7.336 billion in 2024-25,
3) $7.694 billion in 2025-25,
4) $5.506 billion in 2026-27.

The total outstanding foreign debt obligation would be standing at $49.235 billion over the next five years but it does not include the foreign debt owed by the private sector (source)

Pakistan has $3.4 billion in its foreign exchange (as of 27 January 2023) out of which 3 billion is a deposit from Saudi
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Re: Pakistani Economic Stress Watch

Post by srin »

Dilbu wrote:Exports to nine regional states shrink
ISLAMABAD: Pakistan’s exports to nine regional countries shrank 11.93 per cent in the first half of FY23 mainly driven by a drop in shipments to China, data released by the State Bank of Pakistan showed on Monday.

The country’s exports to Afghanistan, China, Bangladesh, Sri Lanka, India, Iran, Nepal, Bhutan and the Maldives dipped to $1.897 billion — just 13.31pc of Pakistan’s total exports of $14.25bn in July-December FY23.

China tops the list of Pakistan’s regional exports leaving other populous countries India and Bangladesh behind. But Pakistan’s exports to China posted negative growth in the first half FY23 on a year-on-year basis. The bulk of the regional exports share, which accounts for 55.77pc, is with China while the remaining is for eight countries.
What do they export to India (other than terrorists) ?
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Re: Pakistani Economic Stress Watch

Post by g.sarkar »

They do export Indian currency that is printed in Pakistan.
Gautam
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Re: Pakistani Economic Stress Watch

Post by Parasu »

https://www.dawn.com/news/1734759/janua ... since-1975

January inflation is at 27.55 %. Highest since 1975.
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Re: Pakistani Economic Stress Watch

Post by Manish_P »

Parasu wrote:https://www.dawn.com/news/1734759/janua ... since-1975

January inflation is at 27.55 %. Highest since 1975.
Official numbers... so the actual figures will be close to twice that
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Re: Pakistani Economic Stress Watch

Post by Dilbu »

Rs952b to be added to circular debt
ISLAMABAD: A revised Circular Debt Management Plan (CDMP) has revealed that a staggering Rs952 billion more will be added to the country’s circular debt in a ‘business as usual’ move – a hole that the government now wishes to plug by increasing the price of electricity and - Rs675 billion in additional subsidies.

The government has proposed the imposition of three separate quarterly tariff adjustments, ranging from 69 paisas per unit to Rs3.21 per unit from February to May this year to reduce a gap of Rs73 billion, showed details.

In addition to that, in order to meet two more conditions agreed with the International Monetary Fund (IMF) in the past, the government has also decided to slap a Rs2.93 per unit debt surcharge apart from giving effect to the pending fuel cost adjustments (FCA).

The plan, however, appears to be unrealistic, as it has been made on the assumption that the rupee-dollar exchange rate is Rs232 per dollar and 16.84% Karachi Interbank Offered (KIBOR) rate. The current exchange rate stands at Rs268 and KIBOR is close to 18%.
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Re: Pakistani Economic Stress Watch

Post by Dilbu »

Uh ho.. that doesn't sound good for the mulak.
Pakistan-IMF talks: Fund rejects circular debt management plan
ISLAMABAD: The International Monetary Fund (IMF) has rejected the circular debt management plan (CDMP) presented by the government and asked the authorities to raise the electricity tariff by Rs12.50 per unit in order to restrict the additional subsidy at Rs335 billion for the current fiscal year, according to a The News report published Thursday.

An IMF mission is currently in Pakistan holding talks on the ninth review that will continue till February 9 after which a staff-level agreement is expected between the two sides.

During the second day of technical-level talks, the Washington-based lender termed the revised CDMP as “unrealistic”, which is based on certain wrong assumptions. So the government will have to bring more changes in its policy prescription to restrict the losses of the cash-bleeding power sector.

The IMF and the Finance Ministry will work out a gap on the fiscal front after which different additional taxation measures will be finalised through the upcoming mini-budget.
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Re: Pakistani Economic Stress Watch

Post by Dilbu »

Inflation rises to 48-year high as IMF visits
KARACHI: Inflation has risen to a 48-year high in crisis-hit Pakistan, where the International Monetary Fund is visiting for urgent talks, according to data released on Wednesday by the statistics bureau.

Year-on-year inflation in January 2023 was recorded at 27.55 percent, the highest since May 1975, with thousands of containers of imports held up at Karachi port.
"The number of beggars has increased and the number of labourers has decreased," said 55-year-old mason Zafar Iqbal, who was eating biryani from a plastic bag donated by a passerby. {See even beggars are eating biryani in TFTA TSP. Still better that SDREs eating sambar and rice}

"Inflation is so high that one cannot earn enough."

Former Prime Minister Imran Khan, who was ousted last year in a no-confidence motion, negotiated a multi-billion-dollar loan package from the IMF in 2019.

But he reneged on promises to cut subsidies and market interventions that had cushioned the cost-of-living crisis, causing the programme to stall.

It is a common pattern in Pakistan, where most people live in rural poverty, with more than two dozen IMF deals brokered and then broken over the decades.
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Re: Pakistani Economic Stress Watch

Post by Manish_P »

After hitting stone walls with the sarkari corporates, the Baki FM seems to be planning on making bakras out of Individual murgas

BTW didn't the make Bill Gates a honorary paki? IIRC sometime ago they gave him a hilaley something..

Yawn - Will ask SBP governor to collaborate with philanthropists to raise dollars, says Dar
Finance Minister Ishaq Dar said on Thursday that he would ask the central bank governor to coordinate with a group of philanthropists in an effort to raise dollars from overseas Pakistanis to reduce the foreign exchange shortage.

Addressing a conference on Islamic finance via video link, Dar praised the initiative of Bashir Farooqi, founder of Saylani Welfare International Trust, under which leading philanthropists expect to raise $2 billion for five years. The funds will not generate any profit for the overseas Pakistanis, Farooqi said.

“We will hold a joint press conference soon to ask overseas Pakistanis for help,” Farooqi said.
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Re: Pakistani Economic Stress Watch

Post by Deans »

https://www.ndtv.com/world-news/imf-rej ... rt-3746069

AoA, IMF finally gets it.
Interestingly, Pak Min of defense is working with the IMF. They probably understand that only Min of Defense calls the shots - while giving Army
a fig leaf of not being involved.
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Re: Pakistani Economic Stress Watch

Post by Bart S »

IMF always 'got it', it was the State Dept morons who didn't and always leaned on the IMF to pander to the Pakis
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Re: Pakistani Economic Stress Watch

Post by RoyG »

Bart S wrote:IMF always 'got it', it was the State Dept morons who didn't and always leaned on the IMF to pander to the Pakis
They all get it.

My prediction is Pakistan will get the aid, still meltdown, and western companies benefit from acquired collateral. There is no harm in banks seizing assets especially in mining, agri, and other productive sectors which guarantee good rate of return. Make a quick buck out of them. Massa can even build a few more bases and black sites here and there like in Somalia. Vulture feast.

One thing Pakistan will see a rise in is this narcotics and human trafficking way worse than in Mexico and central america. These Pathans want to control all these CPEC routes so they can export their heroin everywhere.
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Re: Pakistani Economic Stress Watch

Post by Dilbu »

Rupee weakens against dollar amid ambiguity on IMF talks
The Pakistani rupee lost ground on Thursday against the US dollar in the interbank market after following the International Monetary Fund's disapproval of the circular debt management plan.

The rupee depreciated by Rs2.52 to settle at Rs271.35 at the close of the day. However, the local currency touched 272.17 against the dollar during intra-day trade.
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Re: Pakistani Economic Stress Watch

Post by yensoy »

Deans wrote:https://www.ndtv.com/world-news/imf-rej ... rt-3746069
AoA, IMF finally gets it.
Interestingly, Pak Min of defense is working with the IMF. They probably understand that only Min of Defense calls the shots - while giving Army
a fig leaf of not being involved.
Pakfauj has played this brilliantly. They retained de-facto control over the system while letting the civilian governments face pesky issues of economy, starvation, devastation and civilian unrest. Now the world has seen what that led to. We will soon be begging the men in medals to take over the country again. Kerry-Lugar will be suspended and recognition restored to the real rulers along with the $$ grease needed to keep the machinery running once again. Establishment will govern Pak, keep it from disintegration or worse and the world will be relieved once again.
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Re: Pakistani Economic Stress Watch

Post by Atmavik »

^^ Kerry Luger is no issue after The Egyptian coup/non coup , Imran Khan has ensured that this backseat driving / hybrid regime is not possible, the kind of abuse Bajwa and Faiz are receiving is in heard off . The new Chap munir has to do an overt take over or risk TSPA becoming paki punjab police
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Re: Pakistani Economic Stress Watch

Post by neeraj »

SBP-held forex reserves fall to highly critical level
The foreign exchange reserves held by the State Bank of Pakistan (SBP) dropped to a highly critical level as the nation faces severe economic distress and strives to unlock the International Monetary Fund (IMF) loan.

Due to foreign debt payments, the central bank said its reserves fell $592 million to $3,086.2 million during the week ended on January 27, their lowest since February 2014, and are barely enough to provide import cover for 18.5 days (0.61 months). Soon they will count seconds

The reserves held by the commercial banks stand at $5,655.5 million, taking the total reserves of the country to $8,741.7 million, the central bank's statement mentioned.

Despite the falling reserves, the federal government is ensuring it meets international debt obligations to avoid default :mrgreen: — a long-standing threat that has now forced the Shehbaz Sharif-led administration to meet the conditions of the IMF.

Amid the liquidity crunch and the government's removal of the cap on the dollar, which was a pre-condition of the IMF, the Pakistani rupee plunged to a historic low of Rs271.35 in the interbank market.

With the reserves hitting new lows every week and the government trying to keep itself afloat by meeting IMF demands, the prices of commodities have also witnessed a spike.

Development economist Maha Rahman told The News that the Washington-based lender's bailout programme had become critical for Islamabad as further inflows were dependent on the IMF's nod.

"Pakistan is in a precarious situation given the limited reserves and our total monthly import bill," the economist said.

"Please bear in mind that the import bill is a conservative amount right now given the payment difficulties and restrictions. So a realistic estimate is worrying," she added.

Consumer prices rose 27.6% compared to 13% in the same month of last year, according to data released by the Pakistan Bureau of Statistics (PBS) on Wednesday. This is the highest year-on-year inflation after May 1975 when the median rate clocked in at 27.77%.

Due to the ongoing situation, the central bank has also restricted the issuance of letters of credit (LCs), leading to the complete or partial shutdown of business — from textile to automobile. This is causing a disruption in the supply chain, which will ultimately lead to an increase in the rates of commodities.

SBP Governor Jamil Ahmed last month said the country owed $33 billion in loans and other foreign payments before the end of the fiscal year in June. :((

A diplomatic offensive has seen $4 billion rolled over by lending nations, with $8.3 billion still on the negotiating table.
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Re: Pakistani Economic Stress Watch

Post by Anujan »

Chota badmash wants an all parties conference. Earlier IMF had said that there should be political consensus for tough economic measures. On the other side chota badmash is arresting PTI members like Sheikh Rasheed.

https://www.dawn.com/news/1734953/pm-ca ... imran-khan

I think Kaptaan should condemn this begging to IMF, refuse to follow IMF conditions, defeat Badmash and become the next PM

#IStandBehindKaptaan
vimal
BRFite
Posts: 1904
Joined: 27 Jul 2017 10:32

Re: Pakistani Economic Stress Watch

Post by vimal »

What is the meaning of Pakistan?
Kaptaan kaptaan, Imran Khan!
IMF ka mita do namo-nishan
Kaptaan Kaptaan, Imran Khan.
yensoy
BRF Oldie
Posts: 2494
Joined: 29 May 2002 11:31
Location: USA

Re: Pakistani Economic Stress Watch

Post by yensoy »

I learnt about "Naya Pakistan Certificate" https://www.sbp.org.pk/NPC-/page-npc.html#2 which offers non-resident Pak ppl basically what we call an FCNR FD. The going rate is 8% for USD for 3+ years, even 3 month short term rate is an absurdly high 7%! Even Pak based Pakis aren't rerouting their funds thru hawala into this scheme because they don't trust its safety, liquidity and repatriability.

If GoI ever does the same, they can raise billions of $ in no time.
RCase
BRF Oldie
Posts: 2249
Joined: 02 Sep 2011 22:50
Location: Awaiting the sabbath of Fry djinns

Re: Pakistani Economic Stress Watch

Post by RCase »

Anujan wrote:Chota badmash wants an all parties conference. Earlier IMF had said that there should be political consensus for tough economic measures. On the other side chota badmash is arresting PTI members like Sheikh Rasheed.

https://www.dawn.com/news/1734953/pm-ca ... imran-khan

I think Kaptaan should condemn this begging to IMF, refuse to follow IMF conditions, defeat Badmash and become the next PM

#IStandBehindKaptaan
Forget political consensus. I think it is more important for IMF to get military consensus! The puppeteer is more important than the puppet.
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