Pakistani Economic Stress Watch

yensoy · Post by **yensoy** » 23 Jan 2023 13:12

Anujan wrote:They tried to be clever and tried to conserve foreign exchange by refusing letters of credit for imports
These tend to have unpredictable effects
I wonder how their fuel and coal stocks are doing. The power outages could be because of that.

Absolutely. The energy minister is saying some BS about "frequency and voltage fluctuation was observed". Any fresh BE graduate will tell you that line frequency goes down when load is too high. Why is load too high? Because presumably a lot of generation capacity is offline. Maybe precisely because they dont have fuel (I thought they were big into gas rather than coal - yes nat gas is 32%, coal is 13% - a luxury which only first world can afford).

Neela · Post by **Neela** » 23 Jan 2023 13:20

Anujan wrote:They tried to be clever and tried to conserve foreign exchange by refusing letters of credit for imports

These tend to have unpredictable effects

I wonder how their fuel and coal stocks are doing. The power outages could be because of that

I also hope they do not take IMF loan and make structural changes to their economy. Which means that in 5-10 years they’d have sustainable growth

They need to take loans from “friendly countries” and be in the liquid oxygen state.

Everything is on the precipice Sirji. We are counting in days (10 days, 15 days etc)

Debt servicing alone is sinking them.
Then there is the military - any spending cuts and there will be different type of cuts for the civvies
Power generation - wornout gear, equipment and machinery needs import - with some of it being Chinese infra, they'd be spending a lot of spare parts
We still have oil and natural gas imports
Add to Speciality medical gear and life-saving drugs

Without a big big haircut, it is not going to recover from here.

Xposting from piglet thread
Institutional collapse-> Hunger and non availability of essentials -> Aam aadmi hitting the streets-> Riots -> gated comunities of Paki rich attack -> Cantonments attack-> Paki Army attacks

I forgot to add- Sindh, Balochistan , NWFP , KP , GB - the breakaway of one or more of provinces is INEVITABLE too if above gathers pace. The centre of power needs to enforce its writ through a mix of financial benefits, military power and a joint identity. If these start to show big differences, the provinces will break away - it is the law of nature.

chetak · Post by **chetak** » 23 Jan 2023 13:21

@sajjadmaqsood09 ·46m

Pakistan witnessed its 4th country wide power breakdown in the past 3 years, today, again at 734am PKT.

The ministry incharge indicates that it can take upto 27hours for a full fledge restoration of electricity supply across the country.#ElectricityShutDown

Deans · Post by **Deans** » 23 Jan 2023 13:26

Dilbu wrote:Rs3.2 trillion spent on just debt servicing, defence

The Pak press dare not mention the real reason for their problems - high and unsustainable defense spending.

Neela · Post by **Neela** » 23 Jan 2023 13:27

Guess just about now and in the next several months is the time to watch out for secessionist, revolt, anarchy, overthrow type of movements and new power centers other than military emerging in Piggistan. That is, unless there is a big infusion of funds to keep the circus going.

Neela · Post by **Neela** » 23 Jan 2023 14:54

https://gnnhd.tv/news/18393/short-circu ... three-days

‘Short circuit’: Parliament offices to remain closed for three days

Average Paki seeing the scenario getting bleak. No power, high inflation, violence.
CAlling upon the martial trait in them to rise, revolt and fight.

Neela · Post by **Neela** » 23 Jan 2023 15:09

https://twitter.com/MeghUpdates/status/ ... 7061062656

@MeghUpdates
Pakistan Already effected by major power outrage, Now main 72inch pipeline supplying water to Karchi mysteriously bursts leaving the province without drinking water.

chetak · Post by **chetak** » 23 Jan 2023 15:18

Neela wrote:https://twitter.com/MeghUpdates/status/ ... 7061062656

@MeghUpdates
Pakistan Already effected by major power outrage, Now main 72inch pipeline supplying water to Karchi mysteriously bursts leaving the province without drinking water.

It never rains but it only pours

niazi is literally drowning his political opponents

must have cost him a just a few kgs of atta to get the deed done

they will now find a way to blame R&AW agints and demand that mudi should regine immediately

Dilbu · Post by **Dilbu** » 23 Jan 2023 16:48

The explosion of unemployment

Every day thousands of Pakistanis are losing jobs as the ongoing economic crisis deepens further. Just how many millions will become jobless in 2023? Nobody can say for sure. But let’s rephrase the question: What will be the total number of unemployed people by the end of this year, including those that couldn’t find work even before 2023?

Estimates vary. But given the current pace of business closures, temporary shutdowns, and planned reduction in industries’ outputs, around 6.205 million people or 8.5 per cent of the total workforce of 73m may remain unemployed during this year.

One can easily imagine what may happen to our poorly governed country of 225m people when 6.205m of them (all adults and able to take up jobs) remain out of jobs.

Will such massive joblessness not feed the networks of organised crime? Will it not become a more fertile breeding ground for poverty, ignorance, exploitation, extremism and terrorism?

All indicators show Pakistan’s economic crisis will not go away in 2023. And the factors that are expected to mitigate its severity are temporary (expected inflows from the IMF and commercial loans from friendly countries) and will further increase the country’s debt burden. This means 2024, too, will be a tough year.

For the past few months, key sectors of manufacturing, including refineries, textiles, iron and steel, automobiles, and fertilisers, have been reporting business closures, scaling down and temporarily suspending operations.

In the textile industry alone, 700,000 people are estimated to have lost jobs after the last year’s super floods and amidst this year’s energy and foreign exchange crisis. As the forex crisis worsens day by day, commercial banks continue to deny the opening of new import letters of credit (LCs) and even decline to clear those opened earlier.

Trading and services sectors also feel the pinch of it. Business activity in the services sector has decreased and lots of people associated with this sector have lost jobs.

A few days ago, the Pakistan Bureau of Statistics released large-scale manufacturing (LSM) data, which shows that in July-November 2022, overall LSM output fell about 3.6pc compared with July-November 2021. Production of automobiles, cement and petroleum products showed yearly decline of 28.7pc, 16.4pc and 13.6pc respectively. Production of cotton yarn and textiles also fell 11pc and 2.5pc. Behind these numbers lie countless stories of job losses.

With the energy and forex crises at their peak, with aggregate demand on the decline amidst stubbornly high inflation and a tight monetary policy in place, there is little hope for LSM output to gather enough pace to create jobs on a large scale in 2023.

Dilbu · Post by **Dilbu** » 23 Jan 2023 17:20

Pakistan Raises Key Rate by 100 Basis Points as Crisis Mounts

The embattled South Asian nation is reeling from the aftermath of a catastrophic flooding last year that amplified the impact of political turmoil and financial crunch. With foreign currency reserves at a nine-year low and funding including from that of the International Monetary Fund held up, Pakistan was forced to restrict import payments.

As a result, about 6,000 containers of food items, raw materials and medical equipment are stranded in ports, aggravating inflation that has lingered above 20% since June. Prices of chicken, eggs and flour in the country continue to rise even as global commodity costs have moderated.

As the government curtailed overseas purchases, local banks have been refusing to issue letters of credit, leading to a standstill that puts businesses at risk of shutting down.

Pakistan’s FX reserves were at $4.6 billion as of Jan. 13, equivalent to less than a month worth of imports. The central bank chief said last week that the nation will see dollar inflows from the Middle East in the coming days, an assurance that other officials have made in the past months but the money has yet to materialize.

A further increase in energy prices loom as part of the IMF conditions for the loan. A widespread power outage on Monday after a grid failure is the latest blow to the Pakistan.

Dilbu · Post by **Dilbu** » 23 Jan 2023 17:26

ECONOMY: NO COUNTRY FOR THE YOUNG

On the last day of 2022, more than 30,000 male and female applicants from across Pakistan flocked to the capital in order to appear for a written test for the job of a constable (BS-07) in the Islamabad police force. The stadium at which the test was held was packed to the brim, filled as if a football match was about to commence. However, there were only 1,667 vacant positions.

Ultimately, only the private sector can offer a sustainable solution to job creation in Pakistan. Hence, it is imperative that the public sector and spheres of governance ensure that a suitable environment is created for business, in which the private sector can grow and thrive.

But there are certain infrastructural and regulatory obstacles that keep the private sector from growing in the country and thus leave a large chunk of Pakistan’s educated youth unemployed.

Power outages, a lack of investment in research and development and a volatile political situation are some of the factors which have limited the employment opportunities that are created for Pakistan’s youth. Another major employment challenge facing Pakistan is that a large portion of the labour force earn extremely low incomes and often work in hazardous and poor working conditions.

Perhaps one of the main reasons why youth unemployment is a burden which Pakistan has to bear is the skills mismatch prevalent amongst 18-25-year-olds in the country. A large number of the youth lack access to quality education and dissemination of skills required to attain and maintain jobs in a very competitive market. Combining formal education with on-the-job training can significantly facilitate these young graduates and the state must take the help of the private sector in designing a systematic curriculum which increases the employability of these individuals.

Sixty-four percent of the country’s population is under the age of 30. There is a pronounced youth bulge which, if it is not catered to, will lead to severe consequences for the state, society and the economy, thus further compounding the hopelessness, despair and destitution already plaguing the country.

The Labour Force Survey (LFS) published by the Pakistan Bureau of Statistics (PBS) in 2021 showed an uptick in unemployment, with the educated youth more likely to face difficulties in finding jobs. One of the factors behind this trend is underemployment, i.e. people with good education and skills forced to take low-paying jobs due to an unavailability of jobs matching their skillset and education. This is reflected in the high number of applications received for positions like the ones offered by the Islamabad police force.

The government has enough data to map and identify existing gaps in order to create human capital which addresses these shortfalls. A study titled ‘Pakistan’s Opportunity To Excel: Now and The Future’ by Dr Nadeemul Haq, Vice Chancellor of the Pakistan Institute of Development Economics (PIDE) and Dr Durre Nayab, Director PIDE, conducted an in-depth examination of the Labour Force Survey. It revealed that the unemployment rate among university graduates in Pakistan is a whopping 31.2 percent.

Against this backdrop, it is unsurprising that Pakistan has been facing a rampant brain drain. Our doctors, engineers, Information Technology (IT) experts and educationists are forced to move out in search of greener pastures. Many of them have already left the country or are planning to do so. These are the people with special skills who have become frustrated with the lack of job opportunities and improper remunerations offered to them in Pakistan. They are distrustful of the government, the political leadership and the prevalent economic and social system as a whole.

According to the International Monetary Fund (IMF), the migration rate from Pakistan of individuals with a tertiary education to the OECD countries is more than 7 percent, while for India it is 2.7 percent. An important implication of the brain drain is that investing in education in our country may not lead to faster economic growth if a large number of the highly educated people we produce eventually leave the country.

Manish_P · Post by **Manish_P** » 23 Jan 2023 17:36

Must be the power outage that's responsible for the bulb not turned on inside Bibi's head...

Neela · Post by **Neela** » 23 Jan 2023 17:52

chetak wrote:
Neela wrote:https://twitter.com/MeghUpdates/status/ ... 7061062656

It never rains but it only pours

niazi is literally drowning his political opponents

must have cost him a just a few kgs of atta to get the deed done

they will now find a way to blame R&AW agints and demand that mudi should regine immediately

Nope Sirji. The tables are turned I think.All the rabid dogs have started looking inward - and I believe ,inshaallah, have realized the imported rulers of Pak have screwed them. You see, the collapse of everything around them, and the "Modi-doing-development-for-India" can turn even the retards who blame RAW. At some point, it wears out and the rabid dogs want someone to hang from lampost - someone whom they can catch. The dumbest Paki out there can see it for himself - it is their own making and their own leaders & mullahs. You cannot explain inflation blaming RAW. Or Power. Or lack of infra. Or lack of jobs. Or lack of exports. Or lack of education. Or lack of water.

Good days are here and I very hopeful my eyes will feast on a Somalia famine like pics soon. There is a deep deep scar which can never heal - but at least some gratification can be wished.

Manish_P · Post by **Manish_P** » 23 Jan 2023 18:03

Neela wrote: ...All the rabid dogs have started looking inward - and I believe ,inshaallah, have realized the imported rulers of Pak have screwed them..

Perhaps you mean the 'Fauji jernails'..

The english speaking/online news accessing/social media types are aware and consistently blaming the 'Neutrals' (you can see it online).. and the Kaptaan has also continually shouted and got across the message to the awaami abduls and ayeshas

partha · Post by **partha** » 24 Jan 2023 06:05

https://propakistani.pk/2023/01/23/imf- ... th-review/

IMF Rejects Pakistan’s Request to Resume Talks Over Ninth Review

Sources told ProPakistani that the IMF has turned down Pakistan’s request to send their team and has asked the Finance Ministry to first take all prior actions and then a visit will be scheduled.

Dilbu · Post by **Dilbu** » 24 Jan 2023 10:46

Dollar-starved Pakistan imports 2,200 luxury vehicles

ISLAMABAD: The government has allowed the import of 2,200 luxury vehicles in the first six months of the current fiscal year while the country was crippled with strict foreign exchange control even for imports of essential consumer items and industrial goods.

As a result of the strict foreign exchange control, the piling of containers containing different consumer and industrial products reaches almost 8,500 in the first half of this year at ports across the country, an official source told Dawn on Monday. Contrary to this, the traders put the stuck-up containers figure at 5,500.

As per customs data, over 95 per cent of 8,500 containers are held up at ports due to the non-opening of letters of credit (LCs).

Manish_P · Post by **Manish_P** » 24 Jan 2023 11:45

Dilbu wrote:
ISLAMABAD: The government has allowed the import of 2,200 luxury vehicles in the first six months of the current fiscal year while the country was crippled with strict foreign exchange control even for imports of essential consumer items and industrial goods.

The report mentions this

The bulk of 1,450 used vehicles was imported in the category up to 1,000cc. The import of vehicles between 1,000-1,800cc stood at 370 vehicles while the import of luxury electrical vehicles stood at 20 during the period under review.

So 72% of the 'luxury' vehicles are having engine sizes less than 1000cc

another 20% are those with engine size between 1000cc and 1800cc

So barely 160 or 8% vehicles were the ones with engine size above 1800cc

And 20 electrical vehicles... now those are true luxuries considering the condition of electricity supply in Bakistan.

CalvinH · Post by **CalvinH** » 24 Jan 2023 11:59

How can a Paki importer get the product all the way to Pakistani ports without LCs. Dont buying needs an LCs before goods are shipped?

Aditya_V · Post by **Aditya_V** » 24 Jan 2023 12:17

CalvinH wrote:How can a Paki importer get the product all the way to Pakistani ports without LCs. Dont buying needs an LCs before goods are shipped?

Paki Elite will pay advance using Bank Accounts abroad, I think its time Paki Army Airforce and Navy put themselves in Luxurious Cantonments with High Walls , Dedicated Power lines with 24*7 Electricity, Petrol and Diesel should flow though 1 Highway from Karachi.

Aam Adbuls and Ayeshas can be denied all of these and kept out, if the approach must be bumped off.

vimal · Post by **vimal** » 24 Jan 2023 12:31

Somewhere Bhutto must be staring at Pak and smiling that his dream of making the entire quam eat grass has finally come true. Truly Allah is the the most merciful and giver of the most wonderful gifts.

Atmavik · Post by **Atmavik** » 24 Jan 2023 13:01

CalvinH wrote:How can a Paki importer get the product all the way to Pakistani ports without LCs. Dont buying needs an LCs before goods are shipped?

Paki banks are not giving LC s as there is a shortage of $ , Dar o nomics is the best could have hoped for

Dilbu · Post by **Dilbu** » 24 Jan 2023 13:10

Things are getting worse.
Pakistan fast heading into economic meltdown

ISLAMABAD: With over 9,000 containers still stuck up at seaports threatening to break the supply chains of essential goods, concerns have reached their peak that Pakistan is fast heading towards economic meltdown and hyperinflation.

Experts have sounded alarm bells that the country is facing a deepening financial crisis with fears it could go bankrupt as inflation rises to record levels, food prices rocket and its coffers run dry. The mushrooming crisis will soon tip over into an ugly catastrophe striking households, offices and hospitals.

On one hand, importers are unable to get over 8,531 containers cleared due to a shortage of dollars. The shipping companies, on the other hand, are now threatening to suspend Pakistan’s operations over the country’s failure to make timely payments.

This will hurt both imports and exports.

There cannot be a worse situation than this as the central bank has a paltry $4.4 billion in reserves – barely enough for three weeks of imports – while the estimated needs to clear the containers and pending requests for opening more letters of credits stand in the range of $1.5 billion to $2 billion, according to people in the industry and government sources.

In addition to that, the government has stopped over $2 billion in payments of dividends, which will hurt future investment prospects.

The import-dependent businesses are now teetering towards closure, which would trigger a breakdown of supply chains, as the country’s domestically manufactured goods are also based on imported raw materials.

Goods such as wheat, fertiliser, cotton, pulses, onions, tomatoes, tyres, newspaper prints and electric bulbs are all imported.

Hospitals have started running short of medicines while the cars may soon shut off on the roadsides on a rainy day due to malfunctioning of windscreen wipers or depleted fuel.

From petrol to pulses and medicines, everything might fall below the demand levels very soon. The wheat flour crisis has taken a toll on human lives due to a massive surge in prices.

Pakistan is already facing a 25% inflation rate and the breakdown of the supply chain may cause hyperinflation in a country that might be in for more imported inflation due to steep currency devaluation.

Zubair Motiwala, the chief executive of the Trade Development Authority of Pakistan (TDAP), said that data suggested that there has been a 25% to 30% reduction in industrial activity, gauging from the usage of electricity.

This week, the governor of SBP said that they have been solving between 5,000 and 6,000 cases per month. They have resolved 33,000 since May 2022. But many businesses that are essential for the continuation of daily economic and social life have been declared non-essential to lessen the import bill.

The items that have already been declared essential are even on the verge of shortage of supplies.

About 100 types of businesses have been hit by the list of non-essential Import Items under the Import Policy Order 2022.

The list includes solar panels, photovoltaic, cells, electrical transformers, converters, lamps and lighting fittings, electrical lighting, signalling equipment, windscreen wipers, newsprint, working parts of steel, sacks, bags, microwave ovens, tricycles, scooters, electrical machinery, home appliances CBU, auto CBU, sanitary and bathroom wares, mobile phone CBU.

After facing embarrassment from all sides, the government might have now reached a conclusion that the IMF may be the only door left open for it.

Once this door is crossed, the exporters may start bringing back their receipts from abroad where they are keeping the money to take advantage of depleting local currency value.

This may provide $500 million more to the central bank –the funds sufficient to unlock the majority of around 9,000 withheld containers at ports.

madhu · Post by **madhu** » 24 Jan 2023 15:03

Any website that gives Pakistan import, export and reserve data? I see all are dec/22 data... Things are changing so fast that we need to track not monthly, not daily but hourly...

mody · Post by **mody** » 24 Jan 2023 15:26

https://www.msn.com/en-in/news/world/de ... b89bbb377c

Decoding the Business Emprice of the Paki Fauj:

"When in 1954, then Army Chief General Ayub Khan and Defence Secretary Major General Iskandar Mirza created Fauji Foundation, seldom they knew that the organisation they are creating will control Pakistan's economy one day. Today, the total annual revenue of the commercial projects run by Pakistan Army Generals is nearly $26.5 billion which is more than India's Ambani and Adani groups put together. Askar Bank and Fauji Foundation, which are just two among the hundreds of these ventures generate more than $10 billin of wealth annually. Interestingly, this $26.5 billion translates to nearly 10% of Pakistan's annual GDP owned by a single entity. By this Ratio Pakistan Army is the richest commercial entity in entire world."

"Almost 50% of the Retired Corps Commanders and above officials of Pakistan Army/ Corresponding officials of Pakistan Navy and Air Force are directly absorbed in these charitable organizations while another 30% gets deputed as Ambassadors, foreign service or in bureaucracy. Do not worry, there are plans for balance 20% too who gets plum positions in various government projects, public sector undertakings, advisor to governments and so on. Although these charitable (Commercial) organizations are independently run by a board of directors, but all their overall management is done by Pakistan Army's General headquarters in Rawalpindi. You name a business and will find Pakistan Army deep into it."

"They are the biggest real estate developers in Pakistan having over 50 different housing projects across the country which are not small. Each one of them is spread in several thousands of acres. DHA Islamabad is spread in over 16000 acres while DHA Karachi in over 12000 acres. These lands are allocated free of cost by the government of Pakistan which is then sold at huge premium to common public. Pakistan Army manufactures steel, furniture, consumer goods, pharmaceuticals, food products, cereals, processed meat and many other things.

Guess who is the biggest Fertilizer and cement manufacturer of Pakistan? Its Pakistan Army indeed. Askari Bank, which is among the top 5 banking institutions of the country is owned by them and they are the biggest player in the field of Wind and solar energy in Pakistan. Not only this, but they also own mines, several commercial healthcare facilities, and a large network of schools and colleges across the length and breadth of Pakistan.

Are you tired of this? Please wait. Pakistan military is the biggest giant in Petroleum and gas too with over two dozen entities involved in import, distribution, and processing of petroleum products. When America started its so-called war against terror in Afghanistan, Pakistan Army got another lucrative opportunity. They started supplying necessary goods to the coalition forces as well as private security to all the foreign contractors working in Afghanistan, FATA & Khyber Pakhtunkhwa. Although Pakistan's space program has failed to kick off, yet Pakistan Army is the biggest contractors to Pakistan's SUPARCO (Space and Upper Atmosphere Research Commission of Pakistan).

There is another field where Pakistan military is involved and that is the public sector undertakings. More than a dozen PSUs including Water and Power Development Authority (WAPDA), National Logistics Cell (NLC), the Frontier Works Organization (FWO) and the Special Communications Organization (SCO) are totally controlled by the Pakistan Army. If we add the revenue of these PSUs too in the $26.5 billion quoted above, then the figure will reach much higher."

Paul · Post by **Paul** » 24 Jan 2023 18:00

Read somewhere that $500M will clear the backlog of goods stuck at Karachi Port. Someone will bail them out.

gakakkad · Post by **gakakkad** » 24 Jan 2023 20:40

^^ I wonder how they define luxury vehicles. Would an entry level Lexus BMW 3 / Merc A qualify as luxury ? or do they mean 2200 vehicles like Top end porsche ? Or Do they mean Ferrari and Lamborghini ?

For a desi Entry level lexus is what you give your kid when he gets x med school or MIT. For an Emirati Sheikh Porsche Cayenne is suitable only for Airport taxi and hardly luxury. I wonder what's threshold to call luxury for Al-Baaki.

Anujan · Post by **Anujan** » 24 Jan 2023 20:45

Dilbu wrote:Things are getting worse.
Pakistan fast heading into economic meltdown

This is very very interesting

the estimated needs to clear the containers and pending requests for opening more letters of credits stand in the range of $1.5 billion to $2 billion

Its not $500Million

In addition to that, the government has stopped over $2 billion in payments of dividends, which will hurt future investment prospects.

Are they preventing private companies from paying dividends on their stock?! No wonder karachi stock exchange in plunging.

Anujan · Post by **Anujan** » 24 Jan 2023 20:51

Social media chatter is apparently Pakistan has decided to flush is echandee down the Pakistan and has decided to GUBO

As first step dollar is going to be pegged to market rates from tomorrow. Will the boys score 250? 270? 290? please place bets

Apparently IMF has decided to start talks.

In other news

https://tribune.com.pk/story/2397424/50 ... in-reserve

$500m due with only $4.1b in reserve

Pakistan is set to make a $500 million debt repayment to a Chinese commercial bank–the second in the past seven days –which may push reserves below $4 billion without any new injection.

Pakistan can make 8 payments of $500 million with their $4 billion.

One Pakistan payment = 8 Indian payments.

Sources in the Ministry of Finance told The Express Tribune that the government will return the $500 million loan to the Chinese commercial bank, while another loan – of $300 million – given by the same bank is maturing in the fourth week of February.

Over this past weekend, Pakistan made a payment of roughly $328 million guaranteed Chinese debt that the country had taken to set up power plants. Pakistan had requested China to roll-over this guaranteed debt, but China did not immediately agree.

Manish_P · Post by **Manish_P** » 24 Jan 2023 21:10

Anujan wrote:Social media chatter is apparently Pakistan has decided to flush is echandee down the Pakistan and has decided to GUBO

As first step dollar is going to be pegged to market rates from tomorrow. Will the boys score 250? 270? 290? please place bets

Apparently IMF has decided to start talks.

Inshaallah it will break whatever score new zealand puts up against india today

hnair · Post by **hnair** » 24 Jan 2023 21:14

It is kind of interesting that despite being so bad off, not even a single civilian leader is asking for cutting down the defense budget and reducing the size of khaki’s mijjiles. Shows both Khan-pasand and Xi-pasand factions of khakis are united in that aspect, due to existential reasons.

Instead, everything from guilt-tripping west over climate change to calling names at leader of that one nation who can help is being attempted by paki elites. It is as if they are going over the entire list of excuses they can come up with until they reach “disarmament”

For India, this is subtle vindication of how dumb djinnah’s vision was, if they consider abdul’s hunger is not as important as asim’s bunker. Even without such crisis, Indian arms orders gets shifted for years to prioritize public needs.

putnanja · Post by **putnanja** » 24 Jan 2023 21:14

I am noticing that these days no comments are being published in the paki papers for any of the economy related articles. After all , it's just an image problem that needs to be managed better

yensoy · Post by **yensoy** » 24 Jan 2023 22:26

gakakkad wrote:^^ I wonder how they define luxury vehicles. Would an entry level Lexus BMW 3 / Merc A qualify as luxury ? or do they mean 2200 vehicles like Top end porsche ? Or Do they mean Ferrari and Lamborghini ?
... I wonder what's threshold to call luxury for Al-Baaki.

Bulletproof car. They need tons of those.

neeraj · Post by **neeraj** » 24 Jan 2023 22:39

PM Shehbaz reiterates Pakistan’s desire to complete 9th review of IMF programme

Prime Minister Shehbaz Sharif said on Tuesday that Pakistan had given a “clear message” to the International Monetary Fund (IMF) about the country’s desire to complete the ninth review of the $7 billion Extended Fund Facility (EFF).

Addressing the launch of a loan scheme in Islamabad, the premier reiterated the government’s desire to complete the review.

“We have given the IMF a clear message that we want to complete the ninth review. We are ready and want to sit down regarding your conditions so that it can be concluded and Pakistan can move forward.”...
The official said that the IMF was asking for “some movement on energy prices and the demonstration of Islamabad’s intent to reform but Finance Minister Ishaq Dar is not giving an inch.”

Manish_P · Post by **Manish_P** » 24 Jan 2023 23:18

yensoy wrote:
gakakkad wrote:^^ I wonder how they define luxury vehicles. Would an entry level Lexus BMW 3 / Merc A qualify as luxury ? or do they mean 2200 vehicles like Top end porsche ? Or Do they mean Ferrari and Lamborghini ?
... I wonder what's threshold to call luxury for Al-Baaki.
Bulletproof car. They need tons of those.

Sirs, the report given in the article mentions

72% were under 1000cc engine capacity. Another 20% were between 1000cc and 1800 cc

BTW the word 'used' was mentioned at the start.

But then again it is Pakistan.. they may really be high end luxury vehicles. Purposely under reported as used small cars to pay less taxes

Anujan · Post by **Anujan** » 24 Jan 2023 23:27

hnair wrote: For India, this is subtle vindication of how dumb djinnah’s vision was, if they consider abdul’s hunger is not as important as asim’s bunker

Pakistan economy should be ready to make sacrifices to support Plotistan's economy. After all the Quaid himself said

Pakistan ka Matlab kya? Jernails getting rupaiyah!!

CalvinH · Post by **CalvinH** » 24 Jan 2023 23:43

Aditya_V wrote:
CalvinH wrote:How can a Paki importer get the product all the way to Pakistani ports without LCs. Dont buying needs an LCs before goods are shipped?
Paki Elite will pay advance using Bank Accounts abroad

So an exporter will send the goods based on the advance payment and these goods will be sitting in the port as cash on delivery aka Bank LC is not allowed by Dar. I would say the exporters are really dumb or may be these exporters are actually cousins of the Paki importers and are trying to make a fast buck (dollar) by overstating the import value

CalvinH · Post by **CalvinH** » 24 Jan 2023 23:47

Anujan wrote:Social media chatter is apparently Pakistan has decided to flush is echandee down the Pakistan and has decided to GUBO

As first step dollar is going to be pegged to market rates from tomorrow. Will the boys score 250? 270? 290? please place bets

First 250 to save Dar's H&D. After that to 270 slowly to show Dar is in control. And than to 290 in 6 months showing progress in exports and all iz well!!

chetak · Post by **chetak** » 24 Jan 2023 23:51

Neela wrote:
chetak wrote:
It never rains but it only pours

niazi is literally drowning his political opponents

must have cost him a just a few kgs of atta to get the deed done

they will now find a way to blame R&AW agints and demand that mudi should regine immediately
Nope Sirji. The tables are turned I think.All the rabid dogs have started looking inward - and I believe ,inshaallah, have realized the imported rulers of Pak have screwed them. You see, the collapse of everything around them, and the "Modi-doing-development-for-India" can turn even the retards who blame RAW. At some point, it wears out and the rabid dogs want someone to hang from lampost - someone whom they can catch. The dumbest Paki out there can see it for himself - it is their own making and their own leaders & mullahs. You cannot explain inflation blaming RAW. Or Power. Or lack of infra. Or lack of jobs. Or lack of exports. Or lack of education. Or lack of water.

Good days are here and I very hopeful my eyes will feast on a Somalia famine like pics soon. There is a deep deep scar which can never heal - but at least some gratification can be wished.

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RCase · Post by **RCase** » 25 Jan 2023 00:33

hnair wrote: if they consider abdul’s hunger is not as important as asim’s ~~bunker~~ jagir.

Corrected ...

Asim's priority is his allotment of acres and acres of land, property, extension etc. over bunkers. As far as abdul's hunger, Islam and Allah are there to take care of that. Just pepper every sentence with 'Inshallah' or 'Mashallah', whether it makes sense or not.

RCase · Post by **RCase** » 25 Jan 2023 00:42

hnair wrote:It is kind of interesting that despite being so bad off, not even a single civilian leader is asking for cutting down the defense budget and reducing the size of khaki’s mijjiles. Shows both Khan-pasand and Xi-pasand factions of khakis are united in that aspect, due to existential reasons.

It is an army with a country! The civilian leaders and awam (in that order) are to expect the scraps thrown by the army after taking care of itself. Even within the army, the top brass hog all the goodies and care less about the jawans, to the point that they don't bother to reclaim their dead soldiers in a war.