Pakistani Economic Stress Watch

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Mort Walker
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Re: Pakistani Economic Stress Watch

Post by Mort Walker »

Aditya_V wrote:With USD to INR at 76 and UP Elections coming, we do not have such a luxury at this time.
It is much much cheaper than a war or an attack on India at their time of choosing. While the opportunity exists to push Pakistan over the edge, it should be taken so that they don't have the ability to wage war or even be a credible military threat.
Manish_P
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Re: Pakistani Economic Stress Watch

Post by Manish_P »

Boyzz continue to play well.. required run-rate coming down all the time

Yawn - Alarm over rupee devaluation in Dubai
Hawala operators in Dubai are selling the dollar for Rs 187-189 (at a premium of three to four per cent compared to rates in Pakistan), resulting in a decline in the official remittances from Pakistanis working in the United Arab Emirates.

In Pakistan, the dollar was trading at around Rs181 in the open market compared to Rs178 in the inter-bank market on Friday.

Local exchange companies say the dollar rate in Dubai is considered the real value of the currency in Pakistan, particularly in the open market.
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Re: Pakistani Economic Stress Watch

Post by anupmisra »

Manish_P wrote:Boyzz continue to play well.. required run-rate coming down all the time
Sunday 19th of December 2021 07:55:52 PM - The current USD to PKR buying exchange rate is 182.3 as per Pakistan Open Market

Harami link: https://www.forex.pk/currency-usd-to-pk ... dollar.php
Manish_P
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Re: Pakistani Economic Stress Watch

Post by Manish_P »

anupmisra wrote:
Sunday 19th of December 2021 07:55:52 PM - The current USD to PKR buying exchange rate is 182.3 as per Pakistan Open Market
That may be Anup ji, but as the yawn article says the real home of the paki rupiah is now Dubai (just like the baki cricket team).. so I think we need to track the baki currency @ the Dubai market..
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Re: Pakistani Economic Stress Watch

Post by anupmisra »

Manish_P wrote:...the real home of the paki rupiah is now Dubai (just like the baki cricket team).. so I think we need to track the baki currency @ the Dubai market..
Dubai or Doob-ai - the home away from home for pakis with moolahs.
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Re: Pakistani Economic Stress Watch

Post by Dexter »

https://theprint.in/opinion/pakistans-e ... ds/784232/
Its skidding economy is therefore only one part of the costs that Pakistan has paid for its ‘Afghan adventure’. There’s more, including institutional decay, and a rising radicalism, given a boost by the Taliban victory. A bankrupt state with a monstrous ego that sees itself as a ‘regional power’ is bad enough. What’s worse is that it’s spreading outwards into the rest of South Asia, some with intent, sometimes not. Either way, it’s time to cry halt. And perhaps Islamabad needs to reconsider the question of trade with India. After all, a loss of face is better than the loss of a country.
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Re: Pakistani Economic Stress Watch

Post by Dilbu »

Pakistan's gas crisis to worsen as LNG supplier defaults
Pakistan can expect its gas crisis to worsen further in the coming weeks and months as the Singapore-based LNG trading company, GUNVOR, has intimated to authorities in the government that it will not be able to deliver its term LNG cargo due on January 10, 2022 by claiming the force majeure.

GUNVOR has also not yet informed Pakistan LNG Limited as to when this term cargo will be provided, a well placed senior official at the Energy Ministry told The News.

He said that technically it will be the second default by GUNVOR in a row in the current winter season 2021-22, as it earlier defaulted from the provision of the term cargo on November 19-20, 2021.
The non-availability of the term cargo on January 10 will further worsen the ongoing gas crisis in the country. From December 15, the government has already cut gas supply to the export sector in Punjab apart from shutting down the non-export industry and CNG sector. Domestic consumers are also facing massive shortages across the country even at breakfast, lunch and dinner times and people are forced to purchase food, roti, nan and even tea from hotels at higher prices.
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Re: Pakistani Economic Stress Watch

Post by Dilbu »

Discontinuation of gas to hit textile exports in a big way
ISLAMABAD: Textile sector fears $5 billion lower exports consequent to the government decision to discontinue gas supply to the textile industry in Punjab, claims All Pakistan Textile Association Executive Director and Secretary-General Shahid Sattar.

Shahid Sattar told Business Recorder by telephone that the government decision would result not only in loss of exports but would also render a considerable number of workers in the sector jobless. He said that textile sector was confident of achieving over $21 billion textile exports this fiscal year but subsequent to gas supply issue, exports would not be more than $16 billion. Discontinuation of gas supply would negatively impact on GDP growth and render the workers jobless, he added.

He emphasized that the government’s target to increase exports to $30 billion would not be possible in the wake of discontinuation of gas supply to the major contributor, textile sector, to exports.

To a question about negotiation with the government, Sattar said talks were being held with the government. It was high time the government reviewed priorities in order to remain on track or else all gains made would be lost and additional forex loans would be required to bridge the gap created by lower exports, he stated.
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Re: Pakistani Economic Stress Watch

Post by mody »

Pakistan railways in a big mess.

https://www.msn.com/en-in/news/world/pa ... d=msedgntp

According to a report for the Ministry of Railways, while the departmental deficit ballooned to a whopping 46 billion PKR in 2021, during the current Pakistan Tehreek-e-Insaf (PTI) led government's tenure, total losses incurred for railways stand at 1.19 trillion PKR. As far as accidents are concerned, 270 people lost their lives and a further 396 were injured in 455 train accidents between 2018 and 2021.

The Express Tribune report provides a detailed overview of accidents, departmental deficit, and other administrative matters in the last three years.

For instance, 57 passenger trains were shut down and now only 85 trains are available for the various routes across the country.

Similarly, the number of freight carriages was reduced from 16,159 to 14,327. While the number of employees decreased from 120,000 to 67,627, pensioners of the department now stand at more than 115,000 people.

The report states that during the last financial year, while the salaries of current railway employees amounted to 28.21 billion PKR, a hefty 31.41 billion PKR was spent on retirement pensions.
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Re: Pakistani Economic Stress Watch

Post by Aditya_V »

Pakistan should just abandon the Pakistan railways and realize money by selling off the Steel scrap.
Manish_P
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Re: Pakistani Economic Stress Watch

Post by Manish_P »

6 th Gen warfare onlee

They know how in the past wars IAF would hit their railway infra.

By removing all the rail infra they are forcing the IAF to spent a lot of precious fuel on useless sorties in search for targets 8)
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Re: Pakistani Economic Stress Watch

Post by SRajesh »

Manish_P wrote:6 th Gen warfare onlee

They know how in the past wars IAF would hit their railway infra.

By removing all the rail infra they are forcing the IAF to spent a lot of precious fuel on useless sorties in search for targets 8)
Wat you talking saar.
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Re: Pakistani Economic Stress Watch

Post by Vips »

Dexter wrote:https://theprint.in/opinion/pakistans-e ... ds/784232/
And perhaps Islamabad needs to reconsider the question of trade with India. After all, a loss of face is better than the loss of a country.
And even if its wants to why should India trade with pakistan and give it cheaper products which will bring immediate relief to the establishment and even the mango ayesha and abdul who will happily divert the saved money as aid and donation (zakaat) to Lashkar and J-e-m for jihad in India.
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Re: Pakistani Economic Stress Watch

Post by S_Madhukar »

They can always give up or sell their atim bum for some change … may be even scrap the metal and build locos…nuke to nood(le) power
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Re: Pakistani Economic Stress Watch

Post by SRajesh »

https://timesofindia.indiatimes.com/wor ... 430383.cms
New impetus for Napak Rail
Wonder where will they get the deisel or sufficient electricity to run the locos though
All due to the Trioka ka Kamal : Im the Dim, Sheikh Chilli and Fatso Chowmein!!
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Re: Pakistani Economic Stress Watch

Post by Vadivel »

Is China eating Pakistan with the FTA?

One of the biggest issues with the Pakistani economy is its inability to increase exports compared to the amount of imports we consume. This single issue has led to the massive Balance of Payments crisis the country faces, which has been a major factor in the debasement of the Pakistani Rupee, (yes debased is the appropriate word for what has happened to it).

Our Currency, since FY04, has depreciated by a staggering 1.8x or a CAGR depreciation rate of 6.4%. When compared to peers, this is the one of the highest rates of currency depreciation of any major country in the same development cycle that Pakistan is in.

It seems the government is in the middle of increasing duties on luxury goods and making it difficult for imports of CBU’s of vehicles, the import of food stuff which is produced locally, and chemicals to name a few. All these measures may lead to some imports coming down and may reduce some pressure on the Rupee, but none of this will be a game changer. The results will mostly be cosmetic. We need something big which can perhaps lead to around a reduction of at least in excess of $5 billion or so in imports. The solution? I have no doubt that a renegotiation of the FTA with China or its complete scrapping will do exactly that.

It is surprising that none of the so-called experts have been able to pinpoint who is to blame and where we can get an actual bailout. From the SBP to the Ministry of Commerce Department to the Planning Department to the Govt in power must acknowledge the role that the lop-sided FTA (Free Trade Agreement) signed with China has had. On the face of it this seems difficult to digest however when one delves deeper into numbers we will come to understand how pervasive the destruction has been! What has Pakistan lost due to this?



A weaker currency leads to more outflows, low confidence from foreign investors and huge opportunities for local investors to park their wealth outside the country to reduce their risk of wealth destruction. The local economy also loses as it faces competition not at a similar level of scale: The Chinese govt subsidized a number of utilities for their exporters along with giving them access to cheap credit etc. Their market size is no match to Pakistan’s. So why did we sign this FTA?

The Chinese companies have ASEAN to benefit from while they (Chinese authorities) put up frivolous Non Tariff Barriers to make sure our exporters don’t get the benefit envisaged from. Hence, over the years anything which could or would have been manufactured in Pakistan, the locals started importing from China at a cheaper price. A lot of fake imports or grossly under reported imports also took place where money was moved from Pakistan which resulted in duty evasion (to lower the incidence of taxation and a number of items which would have attracted regular duty were shown as under the FTA esp MDF board, Tiles and a litany of other goods).

This impacted a number of major industries from tile manufacturers to chemical manufacturers, plastic manufacturers etc. It seems over the last 5-7 years Pakistan has been caught in this trap which has led to one thing: lower standard of living for its population! Moreover, we haven’t learnt a thing or the govt in power, The PTI to be exact, doesn’t have the wherewithal to stand up against the Chinese and make sure we are not on the losing end.

The FTA with China was signed in 2006 and the second round of the agreement went into effect on January 1, 2020 when the FBR issued an SRO to exempt 3251 tariff lines covering 6786 goods imported from China from customs duties. Pakistan’s exports before the FTA were, FY04 USD256mn, FY05 USD282mn, FY06 USD412mn, registering growth rates of 33%, 10% and 46%. The imports simultaneously were USD 1.1bn for FY04, USD1.5bn for FY05, USD2.0bn for FY06, registering growth rates 19%, 33%, 31% respectively. Following the FTA in 2006, Pakistan recorded USD547mn worth of exports in FY07 growing at 32%, whereas imports recorded USD 2.3bn, growing 15.4%. After FY07, we saw a free for all in the imports coming from China while our exports did not grow by that much. The trade deficit between the two countries grew by 109% during the FY03 to FY06, after the FTA from FY07 to FY21 it grew by a staggering 535%. This was also responsible for the huge currency depreciation which followed.

Is there anyone from the Ministry of Commerce/SBP even looking at these figures? What are we getting from turning such a blind eye to the Chinese imports and making sure import substitution doesn’t prosper? The recent increases in the SBP policy rate and the tightening which is happening. Can they think of trying to tighten imports from China to reduce the imports and lower our Trade Deficit thereby taking some pressure off the currency? This should also help us have a concerted Make in Pakistan campaign!

With CPEC having materialized majorly, the burden on Pakistan’s imports have significantly increased which was expected to taper off. The imports are projected to increase further, as the remaining projects under CPEC come online. Diversion of Pakistani imports from other countries to China due to lower tariffs, increase in demand for cheap imported raw material and robust demand for cheap Chinese goods have increased Pakistan’s import bill. This is not a sustainable strategy and due to this the local population is severely under pressure.



Pakistan’s local SMEs have been losing out, which is evident from the import data released by the State Bank. The data shows that Pakistan is importing finished consumer goods from China due to China’s cost of scale prices. The Pakistani importers keep increasing their margins, at the expense of increased imports. The unavailability of local substitutes in the market further assert this fact. The State Bank in its annual report a few years ago on Pakistan China’s trade, highlighted and as visible from the trade data available by the State Bank that local ceramics, electrical and medical equipment, chipboard, plywood industries have been vastly affected due to cheap imports from China.

One of the main factors that eroded Pakistan’s export market was China’s subsequent and much favorable FTA’s signed with ASEAN countries in 2010-11. This eroded Pakistan’s margin of preference in cotton and rice by East Asian countries, specifically Vietnam. Moreover, Pakistan’s exports have been limited, since China itself has outpaced Pakistan in its exports sector. Textile is the major export of Pakistan, China itself is a major textile powerhouse, this does not give Pakistan room for increased textile exports to China.

Moreover, Pakistan has failed to realize the potential in China’s export market as the business community in Pakistan resorts to a non-innovative export approach. The recent slowdown in China’s economy is another major factor of lower demand for Pakistani exports. According to the SBP, Pakistani products having greater export potential were given no concession in China’s offer list. Pakistan’s dried fruits exports were tariffed at 25 percent, semi milled rice 65 percent, footwear 24 percent, garments 16 percent. Telephone sets, electronic goods, raw materials were included in the tariff elimination list of China for Pakistan, which discourages the growth of these industries in Pakistan.

Recommendations:

Pakistan should immediately undo the FTA signed with China and put up higher Tariffs on Chinese imported goods. We need to completely wean ourselves off the Chinese imports. In the last 10 years alone, we have had a BOT (Balance of Trade) deficit of USD 65bn with China. This is USD 65bn going into Chinese pockets while looking at the loans they have given us it just dwarfs that. We also need to think of only signing FTA with countries on a similar development track than Pakistan is at because if we were to sign with an advanced country then we would have perhaps the same issues.

https://profit.pakistantoday.com.pk/202 ... h-the-fta/
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Re: Pakistani Economic Stress Watch

Post by Dilbu »

Against USD: Pakistan's rupee falls marginally, ends at fresh historic low
Pakistan's rupee fell marginally against the US dollar, depreciating by four paisas to close at its weakest level in the inter-bank market on Monday.

As per the State Bank of Pakistan (SBP), the PKR closed at 178.17 against the USD after a day-on-day depreciation of four paisas or 0.02%. On Friday, PKR had closed at 178.13 against the USD. Cumulatively, the rupee has depreciated over 11% CYTD and 13% on a FYTD basis against the US dollar.
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Re: Pakistani Economic Stress Watch

Post by anupmisra »

Flight of dollar continues despite FIA action
While the Federal Investigation Agency (FIA) is taking all-out measures against illegal currency business, pressure on the exchange rate has refused to ease out as dollar reached a record high of Rs181.3 in the open market on Friday.
the agency had arrested 158 people and seized local and foreign currencies worth Rs300 million :lol: across the country
He said the crackdown on those involved in illegal currency business was launched against the backdrop of the fear that dollar was being hoarded and smuggled out of the country.
Zafar Paracha, chairman of the Exchange Companies Association of Pakistan, ... suggested that dollar was overvalued as its exchange rate should be between Rs160-165.
Why would someone "smuggle" US$ out of the country? Wouldn't it be easier to "issmuggle" out worthless paki rupee and buy US$ overseas?

Haram link: https://www.dawn.com/news/1665957/fligh ... fia-action
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Re: Pakistani Economic Stress Watch

Post by Vadivel »

anupmisra wrote:Flight of dollar continues despite FIA action

Why would someone "smuggle" US$ out of the country? Wouldn't it be easier to "issmuggle" out worthless paki rupee and buy US$ overseas?

Haram link: https://www.dawn.com/news/1665957/fligh ... fia-action
Anup-Ji, who’s going to buy toilet paper when toiletstanis themselves are converting to US$ to retain the value of toilet paper :(( :mrgreen: outside toiletstan
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Re: Pakistani Economic Stress Watch

Post by Aditya_V »

Vadivel wrote:
anupmisra wrote:Flight of dollar continues despite FIA action

Why would someone "smuggle" US$ out of the country? Wouldn't it be easier to "issmuggle" out worthless paki rupee and buy US$ overseas?

Haram link: https://www.dawn.com/news/1665957/fligh ... fia-action
Anup-Ji, who’s going to buy toilet paper when toiletstanis themselves are converting to US$ to retain the value of toilet paper :(( :mrgreen: outside toiletstan
Cause they think the Fauji a.k.a and non uniformed Jihadis are going to raid it anytime and steal it, nobody is keeping worthless PKR. So the Paki elite are keeping money in foreign accounts so a Foreign Government and Foreign Airline can fly them out when the need arises
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Re: Pakistani Economic Stress Watch

Post by anupmisra »

Aditya_V wrote:So the Paki elite are keeping money in foreign accounts so a Foreign Government and Foreign Airline can fly them out when the need arises
While the paki elite is busy converting its on-the-skids-rupee into US$ or Euros, they are not keeping the Fx in the country. That would be too old fashioned, dangerous and foolish, to put it bluntly. The elite have close family in the west and that's where the money is being transferred. To be safeguarded and invested in properties and businesses. That's why I made the earlier comment that it would be safer to take and cost-effective the paki rupee out of the country and have it converted overseas to $ or Euro.

Case in point; - guess where paki under-graduate students live on US college campuses?
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Re: Pakistani Economic Stress Watch

Post by Aditya_V »

But the Paki Elite must have stashed Fx for years, now they want to take it out before Uniformed Jihadis a.k.a TTP a.k.a Taliban take it out of them.
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Re: Pakistani Economic Stress Watch

Post by kit »

anupmisra wrote:
Aditya_V wrote:
Case in point; - guess where paki under-graduate students live on US college campuses?
where ?
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Re: Pakistani Economic Stress Watch

Post by anupmisra »

kit wrote:
anupmisra wrote:
where ?
Condos. Great four-year investments if you can afford them.
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Re: Pakistani Economic Stress Watch

Post by Manish_P »

Bakis talk only in billions now a days (after Indian unicorns started getting huge valuations)... with the paki rupee plummeting they will soon start talking only in trillions

Yawn - Rs 2 billion power theft loss in railways every year
Railways Minister Azam Khan Swati on Tuesday informed a Senate committee that Pakistan Railways (PR) has been suffering a loss of Rs 2 billion annually due to electricity theft.

He told a meeting of the Senate Standing Committee on Railways presided over by Mohammad Qasim at the Parliament House that electricity was being stolen in connivance with officials of the Water and Power Development Authority and it could be stopped only by installing over 54,000 electricity meters.
Looks like Wazir sahab is trying to get a cut off the purchase of the electricity meters... which will be imported from Tallel than mountains Mulk at inflated prices probably by a fauji owned company
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Re: Pakistani Economic Stress Watch

Post by Dilbu »

Rupee slips further against dollar
KARACHI: The rupee weakened against the US dollar at Rs178.19 in the inter-bank market on Tuesday compared with Monday’s close of Rs178.17, according to the State Bank of Pakistan (SBP).

This is an all-time low value for the rupee as the currency has been declining for the past few months.
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Re: Pakistani Economic Stress Watch

Post by Vips »

Manish_P wrote:Bakis talk only in billions now a days (after Indian unicorns started getting huge valuations)... with the paki rupee plummeting they will soon start talking only in trillions

Yawn - Rs 2 billion power theft loss in railways every year
Railways Minister Azam Khan Swati on Tuesday informed a Senate committee that Pakistan Railways (PR) has been suffering a loss of Rs 2 billion annually due to electricity theft.

He told a meeting of the Senate Standing Committee on Railways presided over by Mohammad Qasim at the Parliament House that electricity was being stolen in connivance with officials of the Water and Power Development Authority and it could be stopped only by installing over 54,000 electricity meters.
Looks like Wazir sahab is trying to get a cut off the purchase of the electricity meters... which will be imported from Tallel than mountains Mulk at inflated prices probably by a fauji owned company
200 Crores Rupees divided by 54,000 comes to 37,000 Rupees per connection ie Rs 3,000 Per month. Seems like all the employees staying in railway quarters have first rendered their meters ineffective/defective and are not paying the power bills. :rotfl:
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Re: Pakistani Economic Stress Watch

Post by disha »

Please check the Mexico crisis of 1982

https://economics.rabobank.com/publicat ... bt-crisis/

Bakistan rupee may devalue by at least 50% in next 12 months & inflation to rise by 100% to keep the economy afloat.

However dollars from narco terrorism may change the above calculations.

Internally, Bakistan is ripe to be divided up by multiple tanzeems.
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Re: Pakistani Economic Stress Watch

Post by CalvinH »

How were Pakis able to afford 25 new J-10C from China in such dire economic conditions? The transaction must be worth at least $1B. Where is this money coming from and where is it booked in their financials.

Pakis are cooking up their books for sure.
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Re: Pakistani Economic Stress Watch

Post by Ambar »

Probably vendor financing on easy terms. They are buying it from one of their dads after all, so the Chinese know how to extract 10x the cost of jets from pakis , however pakis being who they are want to do "we are superior to baniyas" and will continue to buy expensive toys they cannot afford. Here's a country which recently borrowed $3 billion from Saudi to shore up its completely depleted reserves and goes around spending $1 billion on fighter jets ! I hope they continue down this path to completely bankruptcy . How they have managed to maintained that garbage currency of theirs at Rs 180/USD i do not know.
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Re: Pakistani Economic Stress Watch

Post by anupmisra »

Is it possible that the pakis will lease (and not buy) these 25 planes? Easier lease payment terms, stricter conditions, and the chicoms will likely prefer to negotiate and get guarantees in the form of hard collaterals.
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Re: Pakistani Economic Stress Watch

Post by CalvinH »

May be these are used planes. It took us some time to get a full squadron of Rafale aircraft and here Pakis are getting all 25 quickly by Mar 2022.

But even with used planes where is the money allocated in the budget for this? If there was no money how can Pakis buy $1B worth of stuff when they have to present a mini-budget to get the $1B tranche from IMF.

Is this money hidden in CPEC payments to China? No foreign bank would lend money to be splurged on the weapon buying that Pakis did in 2021.
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Re: Pakistani Economic Stress Watch

Post by anupmisra »

CalvinH wrote:May be these are used planes.
Quite likely used planes, off the shelf from a PLAAF airbase somewhere, to be delivered by March next year. The first J-10C was delivered in March 2021.

If the chinis are willing to urgently transfer 25 of these to the pakis, what does that say about the trust the chinis have in these planes (case in point - JF-17 that even the PLAAF does not fly)? What does that say about the pakis (who will take anything that fits in a bowl as long as it flies)?
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Re: Pakistani Economic Stress Watch

Post by anupmisra »

I wonder if IMF, ADB, and other lending agencies that have cautioned the pakis in spending their limited FX reserves on anything that does not feed, clothe or house their bhooka-nangas, are watching this circus?
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Re: Pakistani Economic Stress Watch

Post by Rishirishi »

anupmisra wrote:
CalvinH wrote:May be these are used planes.
Quite likely used planes, off the shelf from a PLAAF airbase somewhere, to be delivered by March next year. The first J-10C was delivered in March 2021.

If the chinis are willing to urgently transfer 25 of these to the pakis, what does that say about the trust the chinis have in these planes (case in point - JF-17 that even the PLAAF does not fly)? What does that say about the pakis (who will take anything that fits in a bowl as long as it flies)?
Remember the words "Pakistanis will eat grass"..... The establishment will happily sacrifice hospitals etc to maintain some kind of parity. With the Rafaels PAF will be outgunned by the meteor missile. They need some kind of aircraft that can penetrate deeper into India. Also It may be the Chinese have given them to PAF for cheap, to maintain pressure on India.
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Re: Pakistani Economic Stress Watch

Post by anupmisra »

For a New Year's Eve laugh onlee. Only a paki will come up with the downside and the upside of any losing proposition. Lord Faw Faw at it again.

Pakistan's economic position will be 'far better' by August, says Fawad

First, the downside:
He informed that the PTI-led government had to return $55 billion in its next two years in debt payment[/u]
The minister, while highlighting the importance of the film and drama industry, rued that the country had not been able to utilise the potential of the vital industry for its image-building.
Our stories have to be told through films
he was pleased that the dollar depreciated against the rupee after the introduction of the Finance (Supplementary) Bill 2021 in the National Assembly on Thursday
And, now the upside:
The minister stressed that Pakistan's politics, defence and economy were all quite stable.
He said the national economy was growing at five percent :lol:
coronavirus pandemic - such calamities occur once in 100 years and Pakistan's strategy to tackle it is being praised worldwide
"This inflation cycle will break in three to four months, while the prices of vegetables will also decline in a couple of months"
"Now, for the first time, a people-centric government is working in Pakistan"
"If Pakistan is floating today, it's because of Imran Khan and the PTI's economic team," claimed the minister.
[/quote]

Does Lord Faw Faw know what else floats?

Haram ka link: https://www.dawn.com/news/1666832/pakis ... says-fawad
SRajesh
BRF Oldie
Posts: 2069
Joined: 04 Aug 2019 22:03

Re: Pakistani Economic Stress Watch

Post by SRajesh »

https://youtu.be/6xIaRnqL5FY
Listen from 35 onwards the lady says Zameen se Khazana ugaltha hain
And Napak will be awash with gold/honey/milk
And from 36 onwards the Man says Civil/Military conflict possible!!
Hmm Dictator time !!!
Is astrology allowed per 'Book' ?? or is it Haram
Anyways IMF/Khan/Chin are all going to help this shit hole in 2022
CalvinH
BRFite
Posts: 1098
Joined: 15 Jul 2007 04:14

Re: Pakistani Economic Stress Watch

Post by CalvinH »

Pakis are expecting a trade deficit of $4.13B for Dec 2021. This is above the plan as exports have come slightly lower (2.76B vs 2.8B) and imports are higher ($6.9B vs $6.2B). Plan vs actual for the month.

Pakis have record trade deficit of $5.1B in Nov 2021 as import for the month touched $8.01B. In this month the reconciliation in import figures between State bank of Pakistan (SBP) and Pakistan Bureau of Statistics (PBS) showed a gap of $1.5B. SBP data was lower. SBP data is based on payments by importers through commercial banks.

I think November is the month where the payment was made to Cheenis for the J10C under some category, probably machinery import from China.
Aditya_V
BRF Oldie
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Joined: 05 Apr 2006 16:25

Re: Pakistani Economic Stress Watch

Post by Aditya_V »

Thats normal Paki Deficit, J-10C if it comes to Pakis will be paid for by the Chinese Tax payer not the Pakis.
CalvinH
BRFite
Posts: 1098
Joined: 15 Jul 2007 04:14

Re: Pakistani Economic Stress Watch

Post by CalvinH »

Aditya_V wrote:Thats normal Paki Deficit, J-10C if it comes to Pakis will be paid for by the Chinese Tax payer not the Pakis.
China is not US. Chinese wont be giving anything free to the Pakis. Not of this high value. Taller than Mountain friendship aside.

This would be hard cash. Not the service.
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