Pakistani Economic Stress Watch

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yensoy
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Re: Pakistani Economic Stress Watch

Post by yensoy »

Dog bites man -> no news
Man bites dog -> big news
S_Madhukar
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Re: Pakistani Economic Stress Watch

Post by S_Madhukar »

It’s better Pukistan stays out of the radar. We don’t want Live Aid and all the glitterati and Thornburgs excited. Even the Puki Nobel prize winner is more interested in Oscars so let them carry on as their ancestors did , becoming purer by the day!
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Re: Pakistani Economic Stress Watch

Post by Manish_P »

There we go, the solution to the problem... give the Money bags a free run to run Pukistan.

Currency dealers offer $24b in loans to govt
Currency dealers in open market have offered loans of $24 billion to the government for the next two years to help it stay away from the International Monetary Fund (IMF) programme, which has badly hit Pakistan’s economy.

Talking to The Express Tribune, Exchange Companies Association of Pakistan (ECAP) President Malik Bostan said, “We have offered $1 billion a month in financing to the government for the next two years to get rid of the IMF.”

The government must pass an order to allow exchange companies to borrow US dollars directly from overseas Pakistanis, foreign firms and global exchange companies, he emphasised.

The loans will be free of cost and can be rolled over, if required. “We are in contact with millions of expatriate Pakistanis as they are our clients. They are ready to lend $1 billion a month to us (exchange companies) over the next 24 months, in addition to the usual inflows received by exchange companies.”

He asked the government to further review its laws, rules and regulations for IT freelancers, who had deposits of billions of dollars in foreign banks. “If the regulations are softened, they will bring these deposits to Pakistan.” :mrgreen:
Arima
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Re: Pakistani Economic Stress Watch

Post by Arima »

Manish_P wrote:There we go, the solution to the problem... give the Money bags a free run to run Pukistan.

Currency dealers offer $24b in loans to govt
Exchange Companies Association of Pakistan (ECAP)
What a term for hawala rats!!!
dark street funding main stream government. that is TSP!
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Re: Pakistani Economic Stress Watch

Post by Neela »

partha wrote:
Neela wrote:
Multiple such videos being shared by credible Pakistani sources on social media where people are fighting for atta or are in long queues to receive free atta. How come pictures of this situation not on front pages of NYT, BBC etc? A "nuclear power" on the brink of default and serious law and order break down. No coverage in mainstream Paki media as well.

Shows Pakis are abandoned. Otherwise the well oiled propaganda machine would have written a few tearjerkers by now
.
Within weeks from now I’m expecting large scale riots and ransacking.it’s gonna turn ugly.
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Re: Pakistani Economic Stress Watch

Post by chetak »

Arima wrote:
Manish_P wrote:There we go, the solution to the problem... give the Money bags a free run to run Pukistan.

Currency dealers offer $24b in loans to govt
What a term for hawala rats!!!
dark street funding main stream government. that is TSP!
Manish ji,

This sort of a scheme simply cannot be proposed/run unless their is a very substantial crore kammandu buy in because they are the only ones who can guarantee the safety of these "investments"

It is a scheme to being back to paki land what the crore kammandus have salted away earlier, and that too by the truck loads, in more receptive and safer climes.
Manish_P
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Re: Pakistani Economic Stress Watch

Post by Manish_P »

chetak wrote:...
This sort of a scheme simply cannot be proposed/run unless their is a very substantial crore kammandu buy in because they are the only ones who can guarantee the safety of these "investments"...
Very correct.
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Re: Pakistani Economic Stress Watch

Post by Neela »

Folks, a trend is firmly taking shape. Discontent among the masses against the army is spilling into SM.


https://twitter.com/MarianaBaabar/statu ... 3230773254
@MarianaBaabar
NAB chief monthly salary of Rs1.7 http://million.An official residence ,Two cars Free electricity up to 2,000 units , 600 litres of petrol per month
He will also be authorised to acquire two kanal plots in Islamabad.
@thenews_intl

Image
Meanwhile elsewhere……
Image
Aditya_V
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Re: Pakistani Economic Stress Watch

Post by Aditya_V »

Neela wrote:Folks, a trend is firmly taking shape. Discontent among the masses against the army is spilling into SM.
Does not really matter, the faujis have the guns, none of NWFP home made guns work. Thats how they control society.
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Re: Pakistani Economic Stress Watch

Post by gakakkad »

^ when the time comes , high quality unmarked weapons will find their way to ttp , BLA and NWFP people . And the fat whiskey journals will summon the flying carpet to gelf or north Pakistan aka englund
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Re: Pakistani Economic Stress Watch

Post by A_Gupta »

Yawn reports: Finance minister Ishaq Dar said on Friday that China had rolled over a $2 billion loan that matured last week, providing relief during the nation’s acute balance of payment crisis.
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Re: Pakistani Economic Stress Watch

Post by Tanaji »

Chetakji, while one agrees completely that this multi billion $ funding scheme cannot be done without the crore kammandus approval why would they want to bring their wealth back to Paki land? It has been invested very well at great cost into Mc Donald franchises, very private wealth funds that ask no questions about the source of funds, properties in United Queendom and assorted businesses.

There is little chance this will be brought back into a land where the awaam are rapidly polishing the lamp posts and finding Young’s modulus for hemp ropes…
chetak
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Re: Pakistani Economic Stress Watch

Post by chetak »

Tanaji wrote:Chetakji, while one agrees completely that this multi billion $ funding scheme cannot be done without the crore kammandus approval why would they want to bring their wealth back to Paki land? It has been invested very well at great cost into Mc Donald franchises, very private wealth funds that ask no questions about the source of funds, properties in United Queendom and assorted businesses.

There is little chance this will be brought back into a land where the awaam are rapidly polishing the lamp posts and finding Young’s modulus for hemp ropes…
Tanaji saar,

this is not a charitable offer. It is a way to avoid the stranglehold of the IMF and humiliating controls imposed by other heavy hitters like the WB etc.

the awam is not concerned about who is sending the money.

beggars cannot be choosers.

even today, petrol and other prices in pak are lower than prices in a "stable" India, if pak rupee prices are normalised to Indian rupees and an apple to apple comparison is made.

the money will come in at extremely high interest rates to cover the risk component.

and it will come through sources that will be camouflaged or via shell companies to protect investor identities.

why would the paki look a gift horse in the mouth.

hobson's choice: it's either this way or no money.

besides, you can be sure that a lot of hot arab and other shady money will also end up in the mix. It may be a very innovative method designed by the ummah, to bypass the white man's agenda
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Re: Pakistani Economic Stress Watch

Post by saip »

11 killed in ‘stampede’ at Ramadan charity distribution in Karachi

The distribution was organized by a dying factory.

Link
chetak
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Re: Pakistani Economic Stress Watch

Post by chetak »

Tanaji wrote:Chetakji, while one agrees completely that this multi billion $ funding scheme cannot be done without the crore kammandus approval why would they want to bring their wealth back to Paki land? It has been invested very well at great cost into Mc Donald franchises, very private wealth funds that ask no questions about the source of funds, properties in United Queendom and assorted businesses.

There is little chance this will be brought back into a land where the awaam are rapidly polishing the lamp posts and finding Young’s modulus for hemp ropes…
Another thought occurred to me saar....


they are not lending money for return, they want the country to fail and and then hopefully convert debt to equity, exactly like what the cheeni are doing..

assets come cheap this way.

are powerful politicos/crore kammandus getting front men to do their dirty work

a thinly disguised variation on the debt trap move, perhaps....

the gulf eyerabs are already eyeing taking over paki assets on the ground, like refinery and power plants, in return for leaving in place/rolling over their already existing funds in pakiland
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Re: Pakistani Economic Stress Watch

Post by Manish_P »

chetak wrote:...

assets come cheap this way....

the gulf eyerabs are already eyeing taking over paki assets on the ground, like refinery and power plants, in return for leaving in place/rolling over their already existing funds in pakiland
And airports.

Yawn today reports 3 airports being put up on the block... Krachi, Lawhore and Isloo
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Re: Pakistani Economic Stress Watch

Post by vimal »

So basically entire country is for sale.
And paki army just a colonial force to keep the momins suppressed.
We should get POK back for some tea and atta sans the population.
chetak
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Re: Pakistani Economic Stress Watch

Post by chetak »

Manish_P wrote:
chetak wrote:...

assets come cheap this way....

the gulf eyerabs are already eyeing taking over paki assets on the ground, like refinery and power plants, in return for leaving in place/rolling over their already existing funds in pakiland
And airports.

Yawn today reports 3 airports being put up on the block... Krachi, Lawhore and Isloo
Thanks Manish ji, for the update.

Had no idea that things were moving this fast

the gelfies must have been eyeing the paki airports for some time now, and also quietly pushing the pliable paki powers that be to unbelt these assets.

let's see if the hans up the price/buy these assets or sabotage this sale
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Re: Pakistani Economic Stress Watch

Post by A_Gupta »

Manish_P wrote:
Yawn today reports 3 airports being put up on the block... Krachi, Lawhore and Isloo
Nothing in the Yawn article indicates that Adani cannot place a bid.
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Re: Pakistani Economic Stress Watch

Post by yensoy »

A_Gupta wrote:
Manish_P wrote: Yawn today reports 3 airports being put up on the block... Krachi, Lawhore and Isloo
Nothing in the Yawn article indicates that Adani cannot place a bid.
Given that Pak is also not allowing foreign companies the facility to repatriate their profits in forex, only a fool will pick up these investments. Or someone connected with a state or power which can get the Pakis to do their bidding, i.e. Chinese or Saudi/Gulf companies/sovereign wealth funds.
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Re: Pakistani Economic Stress Watch

Post by A_Gupta »

Pakistan is doing this deal under the stewardship of the International Finance Corporation, member of the World Bank Group, so I figure that all international bids will have to receive due consideration. I want them to have instilled in them the fear that India could own key Pakistan infrastructure, that is the ultimate humiliation for them. That India/Indian companies actually choose not to, is a different matter.
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Re: Pakistani Economic Stress Watch

Post by Manish_P »

A_Gupta wrote:.....I want them to have instilled in them the fear that India could own key Pakistan infrastructure, that is the ultimate humiliation for them...
Inshallah, Gupta ji,

Aircraft owners, operators reject outsourcing of three airports
The Aircraft Owners and Operators Association (AOOA) of Pakistan has condemned the government’s decision to outsource operations and land assets at three major airports to the Inter­national Finance Corpora­tion (IFC) — the private sector arm of the World Bank Group — without following the Public Procurement Regulatory Authority rules.

The association in a statement issued here on Friday claimed that all the proceedings of outsourcing had been kept ‘secret’, thus making the whole process ‘doubtful and dubious’.

No country outsources its money-making assets such as airports to a third country (Qatar) that does not run even its own airport and has outsourced it to a Singaporean company, being run by Indians, according to the AOOA press release.
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Re: Pakistani Economic Stress Watch

Post by chetak »

Manish_P wrote:
A_Gupta wrote:.....I want them to have instilled in them the fear that India could own key Pakistan infrastructure, that is the ultimate humiliation for them...
Inshallah, Gupta ji,

Aircraft owners, operators reject outsourcing of three airports
The Aircraft Owners and Operators Association (AOOA) of Pakistan has condemned the government’s decision to outsource operations and land assets at three major airports to the Inter­national Finance Corpora­tion (IFC) — the private sector arm of the World Bank Group — without following the Public Procurement Regulatory Authority rules.

The association in a statement issued here on Friday claimed that all the proceedings of outsourcing had been kept ‘secret’, thus making the whole process ‘doubtful and dubious’.

No country outsources its money-making assets such as airports to a third country (Qatar) that does not run even its own airport and has outsourced it to a Singaporean company, being run by Indians, according to the AOOA press release.
The first thing the "new owners" will do is jack up all the airport charges to recoup their "investment".

Got this on WA some time back. It is applicable to Indian Airports and gives an indication of what happens worldwide, give or take

additionally, there are Route navigation fees, parking fees, landing fees depending on the aircraft weight category, itiyadi, itiyadi

Airline tickets are flying high as a result of various components included in the fare, such as user development fee (UDF), aviation security fee and passenger service fee.

The structure of the airfare is divided into four parts -- airline component, airport operator fees, fees to the Airports Authority of India (AAI) and charges paid to the government. The airline component comprises the basic fare, airline fuel charge, common user terminal equipment fee (if applicable) and convenience fee, which is applicable on bookings made online via debit or credit card.


The AAI charges the passenger services fee, while the airport operator levies the airport development fee and the user development fee. Airfares also comprise service tax paid to the government.

additionally there are Route navigation fees, parking fees, landing fees depending on the aircraft weight category, ground equipment usage charges, itiyadi, itiyadi

Some of these components are explained below:

User development fee

One of the most common charges in the flight fare is the user development fee that is levied to fund the modernisation of airports. The varying amount depends on the airport from which the user takes the flight. User development fee for a passenger taking a flight from Delhi airport is Rs 63, while it is Rs 142 for those traveling from Mumbai.

Airline fuel charge

Airlines sometimes pass on the higher fuel costs to the customers by charging ‘airline fuel charge’ or ‘fuel surcharge’ over and above the base fare. At present, some international airlines are charging fuel surcharge costs on flight tickets from April 2021 onwards.

Passenger service fee

The AAI takes the passenger services fee from the flyer to meet the expenditure on passenger facilities and security at airports. Only some airports charge this fee from passengers. For those flying from Kochi, Delhi and Bangalore, the passenger services fee is levied in the range of Rs 83 to Rs 236.

CUTE fee

The Airports Authority of India may also charge the CUTE fees on passengers. The 'Common User Terminal Equipment' (CUTE) fees include charges for the use of metal detecting machines, escalators and other equipment in the airport. CUTE fee is sometimes also referred to as passenger handling fee. The charges vary from one airport to the other, ranging from Rs 50 and Rs 100 per passenger.

Passenger security fee

Flyers are also charged passenger security fees or aviation security fees for the Central Industrial Security Force (CISF) personnel deployed at the airports. In India, passengers are charged Rs 236 at all airports.
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Re: Pakistani Economic Stress Watch

Post by yensoy »

^^^^ Those are all nice but the real story is in developing "landside" facilities. Logistics park, conference venue (because greenfield airports are most often located in distant areas with land already acquired), hotels (to serve crew as well as the conference venue), golf course (a particularly good use of land under the flight path because nothing can be built there) are some items which give big returns. City/state takes care of providing great connectivity to the airport so this a win-win.
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Re: Pakistani Economic Stress Watch

Post by chetak »

yensoy wrote:^^^^ Those are all nice but the real story is in developing "landside" facilities. Logistics park, conference venue (because greenfield airports are most often located in distant areas with land already acquired), hotels (to serve crew as well as the conference venue), golf course (a particularly good use of land under the flight path because nothing can be built there) are some items which give big returns. City/state takes care of providing great connectivity to the airport so this a win-win.
In bangalore, almost all these facilities and the land for such facilities was already locked in was locked in years before the airport was even announced by the fumble harmer and his voracious kin. Others also piled on, mostly politicos, including the mamamia mafia.

likewise the local politicos in other cities. The planning and sanctioning is a long term issue. They need to do it quietly without alerting the bigger sharks who are always on the prowl.

The situation is complicated with the pakis because troops are on beck and call to enforce such social activities like land acquisition.
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Re: Pakistani Economic Stress Watch

Post by Deans »

chetak wrote:[
Manish ji,

It is a scheme to being back to paki land what the crore kammandus have salted away earlier, and that too by the truck loads, in more receptive and safer climes.
Yes, its a scheme to convert Crore commanders black to white, that too tax free and at higher rates of interest.
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Re: Pakistani Economic Stress Watch

Post by hnair »

Don’t even bother about Paki immovable assets of a sensitive nature being managed by Indian businesses. The risks from Indian POV are too high even if we ignore the 800lb gorilla in the room “let us nationalise assets and screw India” (what Maldives pulled off) and that they do still have a national interest veto on who can bid, IMF or not. As an Indian taxpayer, thanks, but no thanks

Chetak, let us not get OT and start discussing Indian issues here. Summary for this thread: BLR has become a kickass airport with zero equivalent in Pakistan and will increasingly take business away from ME hubs themselves
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Re: Pakistani Economic Stress Watch

Post by yensoy »

hnair wrote:Don’t even bother about Paki immovable assets of a sensitive nature being managed by Indian businesses. The risks from Indian POV are too high even if we ignore the 800lb gorilla in the room “let us nationalise assets and screw India” (what Maldives pulled off) and that they do still have a national interest veto on who can bid, IMF or not. As an Indian taxpayer, thanks, but no thanks
There is one situation where we can bid on Paki immovable assets:
1. The asset should be right on the border with India
2. The asset should be secured by Indian authorities, with a demilitarized zone of several sqkm around it
3. The asset will have movement of people from India, determined by Indian authorities
4. In the event of default, mischief or non-compliance of point 2 or 3, the asset will be taken over by GoI

Of course it will not happen today, but who knows maybe one day we could have a special economic zone with a large factory and an airport set up right across the border to service Pak and if they mess around we would just grab that land.

There are places on the border surrounded on 2 or 3 sides by India where this could be workable. This could also be workable in PoK with less detriment to Paki H&D and more constitutional sanction on our part.
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Re: Pakistani Economic Stress Watch

Post by Pratyush »

Why is it important for India to have any asset in TSP?

It's a dead end street. Let PRC and the Khan's waste money over it.

We should not have anything to do with it.
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Re: Pakistani Economic Stress Watch

Post by williams »

Pratyush wrote:Why is it important for India to have any asset in TSP?

It's a dead end street. Let PRC and the Khan's waste money over it.

We should not have anything to do with it.
That is right. If any asset can be used to sabotage Paki capability and speed up the inevitable, then maybe we can take a look. But if let's say Gwadar port is on sale, we can buy it through a proxy and have control over it. As India gets richer such things are possibilities.
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Re: Pakistani Economic Stress Watch

Post by Kati »

LaWhore airport is a fair game, Saar, for Adani to take over. It is within the arty range, hence secured.
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Re: Pakistani Economic Stress Watch

Post by chetak »

williams wrote:
Pratyush wrote:Why is it important for India to have any asset in TSP?

It's a dead end street. Let PRC and the Khan's waste money over it.

We should not have anything to do with it.
That is right. If any asset can be used to sabotage Paki capability and speed up the inevitable, then maybe we can take a look. But if let's say Gwadar port is on sale, we can buy it through a proxy and have control over it. As India gets richer such things are possibilities.
gwadar port was offered to India at the time of independence but wise, gracious, and all knowing neverwho refused it

he was probably concerned about "एडविना क्या कहेगी"

At the time of independence from Britain, Gwadar was a principality that had been in the possession of the Sultan of Oman for almost 200 years. Gwadar was given as a gift to Oman by the Khan of Kalat in 1783. From 1863 up to independence in 1947, it was administered by a British assistant political agent. At that time, the enclave was not much more than a number of fishing villages.

After independence, according to the diplomatic community grapevine, Gwadar was administered by India on behalf of the Sultan of Oman as the two countries enjoyed excellent relations. When the Khan of Kalat asked the Sultan to return Gwadar to Pakistan, reportedly, the Sultan first offered it to India, but India declined to accept the gift.

https://www.dailyo.in/politics/chabahar ... stan-11256
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Re: Pakistani Economic Stress Watch

Post by yensoy »

^^^^ We can say what we want now, but Gwadar would have been indefensible from the hordes with our capabilities during the 40s/50s/60s. Not to mention even water would have to be shipped in from India (RO didn't exist back then). Nice thought though.
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Re: Pakistani Economic Stress Watch

Post by g.sarkar »

https://www.livemint.com/news/world/eco ... 67227.html
Economic crisis forcing many Pakistanis to end their lives
Alka Jain, 18 Mar 2023

A resident of Surjani town in crisis-hit Pakistan, the sole earner of the family who was living in a rented house with his 35-year-old wife and two infant daughters, was struggling with inflation and unemployment. His frustration over rising prices forced him to put a full stop to the family's life.
Police informed that the man along with three family members attempted suicide by consuming a poisonous substance allegedly due to increasing inflation. Unfortunately, the situation took the two-year-old's life, Dawn reported.
District West SSP Faisal Bashir Memon stated that the rescue teams shifted the family to Abbasi Shaheed Hospital. Karachi Police Surgeon Dr Summaiya Syed Tariq told Dawn that she received the body of a minor girl, her father, and her mother along with her sister in a critical situation.
"History, as provided, suggests wilful ingestion of "Neela Thota" ( Copper Sulphate) by the parents after giving the same to the kids," she tweeted.
.....
_______________________________________________________________________________________________________________________________
https://www.arabnews.pk/node/2279576/pakistan
Pakistani police arrest eight after deadly Ramadan food stampede in Karachi
AP, April 01, 2023

KARACHI: Pakistani police on Saturday arrested eight people in the southern port city of Karachi after a stampede killed 12 people at a Ramadan food and cash distribution point a day earlier.
Hundreds of women and children rushed to collect free food and cash outside a factory in an industrial area of the city on Friday. Business owners during the Islamic holy month often hand out cash and food, especially to the poor. An initial report from the police says nine women, aged between 40 and 80, and three children, aged between 10 and 15, died in the crush.
Police said the eight arrests include the factory manager, who did not tell local authorities about the Ramadan alms giving.
“Factory management did not open the inside gate of the factory and, due to the narrow street, the people at the tail of the line pushed elderly women and children,” Superintendent of Police Investigations Dr. Hafeez Bugti told the media during a visit to the site. “As a result, pressure increased enormously, and women and children became the victims of the stampede.”
......
_______________________________________________________________________________________________________________________
https://www.arabnews.pk/node/2279081/pakistan
Pakistan currency dealers offer $24 billion loan to government as alternative to IMF bailout
KHURSHID AHMED, March 31, 2023

KARACHI: As an alternative to the International Monetary Fund’s (IMF) bailout program, Pakistani currency dealers have offered to arrange about $24 billion to shore up the country’s foreign exchange reserves for the next two years “in the larger interest of the country,” an official said on Friday.
Cash-strapped Pakistan is currently in talks with the IMF for the completion of the ninth review of the $7 billion bailout program signed in 2019. However, no progress has been made until now to reach a staff-level agreement, even as the government has implemented several harsh conditions to fulfill the lender’s requirements.
Pakistan desperately awaits the disbursement of $1.2 billion from the IMF under the loan program since it would boost the country’s low foreign exchange reserves which currently stand at $4.2 billion, barely enough to cover one month of imports.
The country’s currency dealers have offered to arrange the much-needed dollars in this context through a swap agreement with overseas and local Pakistanis to steer the economy out of the current crisis.
“We offered the government six months back to arrange $24-25 billion through outright purchases from Pakistanis at least for two years,” Malik Bostan, president of the Exchange Companies Association of Pakistan (ECAP), told Arab News on Friday.
.....
While Bostan said the government’s nod will allow the country to get the much-needed funds, Pakistani economists termed the idea “unsustainable” and risky which could put the country back on the Financial Action Task Force’s (FATF) radar.
.....
Gautam
We can sense the desperation in Paklands.
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Re: Pakistani Economic Stress Watch

Post by g.sarkar »

https://theprint.in/world/we-cook-once- ... n/1406128/
‘We cook once, eat it thrice… we even travel less,’ say Pakistanis battling extreme inflation
A report in the country’s newspaper Dawn tries to gauge the mood at the ground level, and reveals astonishing tales of struggle.
THE PRINT TEAM, 28 February, 2023

New Delhi: Pakistanis are eating and travelling less to deal with sky-high inflation in the country, unable to pay for daily bills, and even their children’s education.
The beleaguered country’s weekly inflation touched 40 per cent last Friday — for the first time in five months — as consumer prices rose significantly due to onions, chicken, eggs, rice, cigarettes and fuel, the Pakistan Bureau of Statistics reported.
There is a fear among certain sectors that the economy may never come back on track, and that the situation may continue worsening both on the economic and political fronts.
A recent report in Dawn tries to gauge the misery on the ground, gleaning the experiences of a security guard in Karachi, domestic helps, a student and a small-scale shop-owner.
Imam Ali, 55, who works as a security guard, said: “If our children ask for something, we simply make excuses. If we eat one time, the second meal is hard to manage… we tell the children to just sleep.”
From a small village near Nawabshah, Ali lost his livestock and crops in the 2020 floods, which forced him to come to Karachi to look for work. He earns Pakistani Rupee 15,000 a month.
“We eat meat only on the day of Bakra Eid. The whole year, we can only have meat if someone offers it to us, otherwise, we cannot buy it with our own money,” he was quoted in the report.
......
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https://theprint.in/go-to-pakistan/in-p ... s/1482190/
In Pakistan, free flour is the new killer—long queues, stampedes, deaths
Over the last year, the cost of wheat flour in Pakistan increased by a whopping 120%, coinciding with inflation which touched an all-time high of 46.7%.
AMRTANSH ARORA, 30 March, 2023

In a sign of how badly Pakistanis are hit by the dwindling economy and chronic food shortages, the country has reported multiple deaths from various centres earmarked for the distribution of free ration. At least three incidents reported in the past week capture the frustration and misery people are facing across the border. Their experience? Hunger, long queues, stampedes.
In Punjab’s Sahiwal, a woman died and 56 others — including 45 women — were injured when a stampede broke out at the Quaid-i-Azam stadium, which was being used as a flour distribution centre.
Going by reports in Pakistani media, the stampede was a mix of mismanagement, a glitch with the app used for identifying beneficiaries and police high-handedness. Eyewitnesses were quoted as saying that hundreds of beneficiaries stood in queue for three to four hours at the stadium after the app developed a snag. As frustration built up, a group of policemen “started manhandling and baton-charging” the crowds, which triggered the stampede.
....
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https://theprint.in/opinion/how-are-chi ... g/1407022/
How are Chinese discussing Pakistan economic woes? State media quiet, social media buzzing
Chinese commentators have said that there are limits to how much Beijing can help. But China also wants the US to stay out of the current crisis in Pakistan.
Aadil Brar, 1 March, 2023

China has so far only tacitly acknowledged the economic crisis brewing in Pakistan. The state media continues to talk about the strengths of the China-Pakistan Economic Corridor. But Chinese people on social media are asking questions about the future of Pakistan’s economy and the reliability of the ‘iron brotherhood’ relationship with Islamabad.
Pakistan’s defence minister Khawaja Muhammad Asif boldly stated on 19 February that the country has become bankrupt. The confession piqued the interest of Chinese people who only see their state media maintain radio silence on it.
The hashtags “Pakistan bankruptcy” and “Pakistan Defence Minister says the country is bankrupt” briefly trended on the Chinese social media platform Weibo. But they didn’t pick up traction as Beijing continues to play down the severity of the economic crisis in Pakistan.
Growing Chinese debt
Pakistan owes $30 billion to the Chinese government and its financial institutions, which is just 30 per cent of its total foreign debt. The country also owes the IMF, the World Bank, and the Asia Development Bank.
If that wasn’t enough, China Development Bank recently announced a $700 million loan to boost Pakistan’s forex reserves by about 20 per cent.
Despite there being relative silence on the economic crisis, some experts in China have said that Beijing will help Islamabad.
“At present, Pakistan does face risks similar to Sri Lanka, but I think it is unlikely that it will go bankrupt because China, Saudi Arabia, and other countries are all helping Pakistan. The problem now is that the IMF loan has not been implemented,” wrote Liu Zongyi, secretary-general of the Shanghai Institutes for International Studies.
......
Gautam
Some of these articles are old, and things are moving very fast in Paklands, I apologize.
sanman
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Re: Pakistani Economic Stress Watch

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Manish_P
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Re: Pakistani Economic Stress Watch

Post by Manish_P »

Evil IMF not allowing paki gormint to give petrol subsidy zakat to awaam in pious month of ramadan

POL relief denied to appease IMF
Instead of providing relief to the people, the federal government has increased the petroleum development levy (PDL) on high-speed diesel (HSD) by Rs 5 per litre, pushing it up from Rs 45 to Rs 50 per litre -- fulfilling another condition imposed by the International Monetary Fund (IMF) for the revival of the stalled $6 billion bailout package.

However, the government has decided to keep the prices of petrol and HSD unchanged for the next 15 days.

The IMF has been pushing the government to increase the PDL to Rs 50 per litre on all petroleum products, according to sources.

The government had already increased the PDL on high-quality petrol to Rs 50 per litre in November last year.
suryag
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Re: Pakistani Economic Stress Watch

Post by suryag »

is PKR printing very secure? Afghanistan could help their awaam by printing some PKR :)
Neela
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Re: Pakistani Economic Stress Watch

Post by Neela »

https://www.dawn.com/news/1745591/stock-market-decline
Glad to see even hope is being crushed.
That the PSX upheld its unenviable position as one of the worst performing stock markets in the world during the first quarter of the present year to March should not come as a surprise to the investors, who should actually brace themselves for more losses in the weeks and months ahead.
Heads I lose. Tails I lose even more. :rotfl:
Even though the benchmark KSE-100 index dropped just 1pc in the three-month period, the returns tumbled 21pc in dollar terms — the highest decline in three years after the index fell 33pc in the same period in 2020 — with the home currency falling 20pc against the American greenback

The sweet sound of spirit being crushed under the heavy rollers of economic mismanagement for decades .
The best of all is that Pakis are clueless as to why they are where they are.
The possibility of social unrest can’t be brushed aside either, given the fact that inflation-stricken people are now ready to even risk their lives for free meals and ration. So, expecting a good return from the stock market in a country where an overwhelming majority of the population is struggling to put food on the table would be quite odd.
chetak
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Re: Pakistani Economic Stress Watch

Post by chetak »

anyone remember this paki pustule and "renowned" journalistic excrescence......

the BIF has a heavy presence in the HT


https://www.youtube.com/watch?v=CiYPJMW6KSI

'Pak needs India...': How New Delhi can rescue 'bankrupt' Pakistan



no mention of the raison d'etre of djinnah's paki paradise's consistent foreign policy, one that is hell bent on the pakis digging their own graves and also, getting their unwashed paki awam to piss away their collective future.

didn't realize that taqiya came in bald formats too
Pakistan is going through its worst-ever phase as not only there is political instability but also economic crisis and the security challenges in the country. Once a darling of America, Pakistan now is virtually on its own. What ails Pakistan and why is that its allies and even "brotherly" Muslim nations are refusing to help it to come out of the crisis? Can India help Pakistan to overcome its present challenges? What is the future of India-Pakistan ties and what happens to issues like Kashmir and terrorism?
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