Pakistani Economic Stress Watch

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Anujan
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Re: Pakistani Economic Stress Watch

Post by Anujan »

How would qatar buy PIA and ensure that it doesn't compete and is complementary to Qatar airlines?

Qatar airlines is better run than PIA and without the problems of random parts of planes falling off, toilets overflowing or flight staff smuggling heroin.


https://tribune.com.pk/story/1236487/pi ... ets-choked
PIA flight diverted to Manchester after passengers leave toilets choked
Toilets on PK-798, flying from Toronto to Lahore, had gotten choked after something solid was thrown by passengers
https://www.dawn.com/news/1395433
PIA stewards involved in smuggling drugs jailed for 2 years by French court
https://www.bbc.co.uk/news/world-asia-40016761
Is heroin being smuggled on Pakistani planes into Heathrow?
https://www.hindustantimes.com/world-ne ... fhucI.html
14 PIA employees arrested for involvement in smuggling drugs
https://www.bloomberg.com/news/articles ... #xj4y7vzkg
Pakistan’s national airline has been barred from flying to the U.S. as a result of a scandal in which almost one-third of the nation’s pilots were found to have faked certifications

Would you buy this even if someone gives it to you for free?
Bart S
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Re: Pakistani Economic Stress Watch

Post by Bart S »

That may be exactly what Qatar Airways (and even Pakistan) wants, i.e. Qatar offloading the troublesome Pak-Doha leg to PIA while taking over all the other routes. PIA and that hotel in Manhattan are often the target of debtors and others involved in litigation against the many poorly negotiated Paki govt contracts, so divesting half of it to Qatar makes it a smaller target in that respect as well.
CalvinH
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Re: Pakistani Economic Stress Watch

Post by CalvinH »

wait for Qataris to low ball and deal to fell through

Roosevelt hotel was eyed by many Non resident pakis for cheap grab all these years..
Vips
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Re: Pakistani Economic Stress Watch

Post by Vips »

Pakistan’s total debt jumps to Rs60 trillion.

Pakistan’s total debt and liabilities skyrocketed to Rs59.7 trillion as the nation added Rs12 trillion, or one-fourth of its total debt incurred in the past 74 years, in the diamond jubilee year, (Mashaallah, Subhanallah) thanks to the imprudent fiscal policies and devastating impact of currency devaluation.

The increase in public debt alone, which is the direct responsibility of the government, was Rs9.3 trillion in the past one fiscal year as it swelled to a record Rs49.2 trillion by end-June 2022, according to the State Bank of Pakistan (SBP).
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Former prime minister Imran Khan had promised to reduce the gross public debt to Rs20 trillion at the end of his term.

The central bank’s latest debt bulletin for fiscal year 2021-22, which it released on Monday, showed that the debt burden increased both in absolute terms and in terms of the size of national economy, indicating that Pakistan is fast burying under the unbearable debt burden.

Total debt and liabilities of the country increased to Rs59.7 trillion, a surge of Rs11.9 trillion, or 25%, compared to the preceding fiscal year, :mrgreen: according to the SBP.

This means that in fiscal year 2021-22, the nation added one-fourth of the debt accumulated from 1947 to June 2021.

In terms of the size of economy, Pakistan’s total debt and liabilities were equal to 76.4% in 2018 that jumped to 89.2% by June this year despite the rebasing of economy.

No government has brought meaningful reforms to stop the debt accumulation. All the three mainstream political parties have failed, with the Pakistan Tehreek-e-Insaf (PTI) adding the highest-ever debt in its 43-month rule.

Former PM Imran Khan had promised to curtail the debt burden while blaming his predecessors for throwing the country under the debt pile. But when he left office in April 2022, his government had added Rs19.5 trillion to the total debt stock of the federal government.

The gross public debt stood at Rs49.2 trillion by the end of last fiscal year, according to the SBP data. There was an addition of Rs9.3 trillion, or 23.4%, in just one year.

In the last fiscal year, the federal budget deficit also hit a record at nearly Rs5.5 trillion, thanks to the expansionary and politically motivated fiscal policies of the PTI government. The increase in the public debt was more than the budget deficit, indicating the impact of currency devaluation.

During their previous five-year stints in power, the PML-N added around Rs10 trillion and the PPP Rs8 trillion to the debt burden.

The lower-than-targeted tax collection, steep currency devaluation, higher interest rates, higher expenditures along with losses incurred by state-owned companies and debt mismanagement were the main reasons for the surge in public debt during the PTI’s tenure.

The average exchange rate on the last day of fiscal year 2021 was Rs158.3 that depreciated by 30% in just one year and closed at Rs204.4 to a dollar in FY22, according to the central bank. This had a huge impact on the government’s external debt.

The federal government’s total domestic debt increased to Rs31 trillion, an addition of Rs4.8 trillion (or 18%) in the last fiscal year. Before Imran Khan took office in 2018, the domestic debt stood at Rs16.4 trillion.

The external debt of the federal government increased at an alarming pace of 35% to Rs16.7 trillion within one year. There was a net increase of Rs4.3 trillion in the external debt, largely due to currency depreciation and building foreign currency reserves through borrowing. At the end of August 2018, the external debt stood at Rs7.8 trillion.

Pakistan’s debt from the IMF increased by 21% within one year to Rs1.4 trillion by the end of last fiscal year, according to the SBP.

The direct consequence of the mounting debt pile is a huge increase in the cost of debt servicing. Total debt servicing, which at the end of fiscal year 2021 was Rs4.6 trillion jumped to Rs5.5 trillion in the just ended fiscal year. The new government is in the process of reviving the IMF programme and is planning to take or reschedule gross $35 billion in foreign loans in the current fiscal year.

Now for some figures in USD.
Pakistan’s gross external debt reached $130.192 billion in FY22 compared to $122.292bn in FY21; it increased by $7.9bn.

However, the general government’s external debt rose to $86.134bn in FY22 compared to $82.5bn in FY21.

Pakistan had to pay $15.071bn as external debt servicing in FY22, compared to $13.424bn in the previous fiscal year. The bifurcation shows that Pakistan paid $12.093bn as principal amount and $2.978bn as interest. The interest accounted for about 25pc of the principal. (Mashaallah, Subhanallah) :rotfl:

The $15bn debt service is close to the amount of the current account deficit in FY22, which was $17.4bn. The current account deficit was much higher than the SBP’s foreign exchange reserves, which badly hit the exchange rate and the dollar rose to an all-time high of Rs239.5. Pakistan is struggling to come out of the current account deficit, for which the government has drastically reduced imports. However, the massive import cuts slashed the economy and would result in large job cuts in the industrial sector.
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Re: Pakistani Economic Stress Watch

Post by Dilbu »

FATF condition: Int’l air passengers must declare currency
ISLAMABAD: The government on Tuesday made currency declaration by all international passengers mandatory, as part of the measures taken to curb money laundering to fulfil the condition of the Financial Action Task Force (FATF), according to a notification issued by the Civil Aviation Authority (CAA).

The notification came as an FATF team was expected to arrive in Pakistan next month for “on-site” visit to verify steps taken by Islamabad to curb money laundering and terror financing. A successful on-site visit would pave the way for Pakistan getting out of the FATF grey list.
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Re: Pakistani Economic Stress Watch

Post by Dilbu »

Petroleum levy will rise to Rs50/litre, IMF told
“The IMF’s Executive Board meeting for combined seventh and eighth reviews under the Extended Fund Facility (EFF) has been set for August 29,” the IMF’s Resident Chief in Pakistan Esther Perez Ruiz confirmed to The News here on Wednesday.

Pakistan has sent back its Letter of Intent (LoI) after the document was signed by Minister for Finance Miftah Ismail and Governor State Bank of Pakistan Dr Murtaza Syed. They also extended the confirmation that the petroleum levy would be jacked up to Rs50 per liter in a staggered manner. The government has also given a written commitment to the IMF that the petroleum levy would further go up by Rs10 per liter in September (next month).
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Re: Pakistani Economic Stress Watch

Post by CalvinH »

Pakis are going to generate a lot of revenues from Petrol and Diesel to fund the corner plots of the Generals and foreign education of Generals kids. Paki Army got a new gravy train.
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Re: Pakistani Economic Stress Watch

Post by S_Madhukar »

Baki economics still seems to be from Mughal-e-azam era. 25% interest no problem, just whip some baniyas and raid some temples , job done. What do they raid these days? Abdul’s half dead donkey, Auntie ki Suzuki Mehraan, unlike BD no free cows and Dimran’s oil isn’t found yet and yet they supply the Chinese diet, export to gulf , I won’t be surprised in a few years time their pop declines
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Re: Pakistani Economic Stress Watch

Post by Dilbu »

Pak Suzuki Motor extends plant shutdown
KARACHI: Pak Suzuki Motor Company (PSMC) has decided to further extend the shutdown of its automobile plant by four more days on account of dearth of imported auto parts.

The company has decided to further extend the shutdown of its automobile plant from August 22, 2022 to August 26, 2022. In a written notice, the Japanese automaker conveyed this to the Pakistan Stock Exchange (PSX).

According to the bourse filing, this shutdown is partly due to a circular of the State Bank of Pakistan (SBP) seeking prior approval for completely knocked down (CKD) units.
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Re: Pakistani Economic Stress Watch

Post by hnair »

CKD causes shutdowns? So that paki Suzuki “plant” is still at “IKEA assembly” levels with zero inputs from local ancillaries? I remember badmash waxing eloquent about how they have Mehran, their auto industry is advanced and is better than maruti etc in the 90s. Fact that plant was shutdown completely shows 100% CKD assembly
Dilbu wrote:Pak Suzuki Motor extends plant shutdown
According to the bourse filing, this shutdown is partly due to a circular of the State Bank of Pakistan (SBP) seeking prior approval for completely knocked down (CKD) units.
Manish_P
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Re: Pakistani Economic Stress Watch

Post by Manish_P »

A-o-A Jihadistan shattering new records.. now to overtake birataher mulk Turkiye

Yawn - Weekly inflation shatters records, rises to 42.3 pc
Inflation measured by the Sensitive Price Index (SPI) rose sharply in the week that ended on August 18, climbing to a record 42.3 per cent year-on-year, data released by the Pakistan Bureau of Statistics (PBS) showed on Friday.

Before this, the highest ever year-on-year increase in the SPI was 38.63 pc, recorded for the week ending on August 5.

Latest data shows that the SPI rose by 3.35 pc over last week, mainly because of higher food prices. The highest week-on-week increase in inflation was recorded at 3.68 pc for the week that ended on July 28.
Bart S
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Re: Pakistani Economic Stress Watch

Post by Bart S »

hnair wrote:CKD causes shutdowns? So that paki Suzuki “plant” is still at “IKEA assembly” levels with zero inputs from local ancillaries? I remember badmash waxing eloquent about how they have Mehran, their auto industry is advanced and is better than maruti etc in the 90s. Fact that plant was shutdown completely shows 100% CKD assembly
I recently came across some random videos on youtube showing Paki manufacturing, the first one below is of bike engines and the other one is of electrical transformers:
https://www.youtube.com/watch?v=BnhB_bNm8l8
https://www.youtube.com/watch?v=Q69QOwVbzjY
From the videos you can tell the standard of their manufacturing (which is mostly just assembly of imported kits) in a really shoddy environment. These look (in terms of the organization, technology and environment) like the really small scale lathe/machining shops in India that you could find about 30 years back, though even that takes some real skill. The Suzuki and other assemblers are probably a bit better but not by that much.
Manish_P
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Re: Pakistani Economic Stress Watch

Post by Manish_P »

Bart S wrote:..

I recently came across some random videos on youtube showing Paki manufacturing, the first one below is of bike engines and the other one is of electrical transformers:
https://www.youtube.com/watch?v=BnhB_bNm8l8
https://www.youtube.com/watch?v=Q69QOwVbzjY
From the videos you can tell the standard of their manufacturing (which is mostly just assembly of imported kits) in a really shoddy environment...
Tauba tauba Sir. Don't you know that this is analogous to Ford vs Ferrari.

The Bakis follow the hand-made limited numbers technics of the italian supercar legend... while us SDREs follow the boring mass-market assembly line system of the Americans..

PS: jokes aside... as a life-long dweller of the office cubicle, it is one of the joys of life to work with your hands, with tools - at building or assembling something. I have done such type of work only at a miniscule personal level and would find it very tedious as a profession, but I have always found such videos (not of bakistan per se) fascinating.. and strangely soothing. ASMRish
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Re: Pakistani Economic Stress Watch

Post by neeraj »

CarFirst shuts down operations in Pakistan
KARACHI: CarFirst, a startup that dealt in used vehicles, announced on Friday it was shutting down operations in Pakistan.

In a post on its LinkedIn page, the automobile marketplace thanked its stakeholders and said a team would remain in place to handle the “closing of the entity”.

CarFirst bought used cars and sold them onwards at a profit while promising its customers a “secure, convenient and hassle-free process”. It operated through a mobile app as well as a brick-and-mortar network of 35-plus purchase-and-sale centres in Lahore, Karachi, Islamabad, Faisalabad, Multan and Hyderabad.

According to Crunchbase, a prospecting platform for dealmakers, CarFirst raised a total of $89 million in funding in two rounds. Their latest funding was raised on May 31, 2018 from a Series A round.
$89 million is enough to buy all the cars sold in pakistan in 6 months. With the "import" ban and the tanking of the economy, many more will follow
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Re: Pakistani Economic Stress Watch

Post by Dilbu »

AED to PKR: Why is Pakistan facing shortage of UAE dirham?
KARACHI: Following the United Arab Emirates (UAE) decision to make it mandatory for Pakistani travellers to declare 5,000 dirhams at the airport at the time of landing, the country's open market is now facing a shortage of the dirham (AED).

According to a Daily Dawn report, Pakistan's currency market was short of the AED due to the latest development that also increased the price of the US dollar in the open market.
Bostan said a new regulation of the Civil Aviation Authority (CAA) for all the passengers to declare cash and jewellery has added to this problem.

“Many people from the Middle East arrive with cash in riyals and dirhams. They also bring cash from their colleagues to directly hand over cash to their families in Pakistan. Now, no Pakistani can take this risk,” he said.

Due to these factors, the currency dealers said the arrival of foreign currencies in the open market has dropped by almost $3 million per day.
So why are pakis required to carry AED 5,000 when they travel to UAE? Jo Lahore mein gandu..
Dubai Announces New Travel Conditions After Deportation of 80 Pakistanis
The announcement follows the deportation of 80 Pakistanis found with fake return tickets and on other grounds.

The consulate wrote to the Foreign Office on Saturday, stating that the entry of these persons to the UAE has been turned down for miscellaneous reasons, and it urged the Ministry of Foreign Affairs to inform Pakistani passengers seeking work in the UAE to obtain a valid work visa. Most of them reportedly informed the UAE immigration agents that they had arrived in the UAE on visit visas to find work. The latter clarified that the Pakistani citizens had been deported for possessing visit visas instead of work visas, dummy return tickets, and insufficient cash to sustain themselves.
The Pakistani mission stated that it had requested the UAE immigration authorities to allow Pakistani passport holders with valid visas entry into the UAE, but that entry was denied for the reasons above. However, the Emirati authorities maintained that they must all have valid return tickets and a minimum of AED 5,000 in cash in this regard.
Manish_P
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Re: Pakistani Economic Stress Watch

Post by Manish_P »

neeraj wrote:...
KARACHI: CarFirst, a startup that dealt in used vehicles, announced on Friday it was shutting down operations in Pakistan.

...
They sell 2nd hand cars and the name of the company is car'first' :?: only in bakistan
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Re: Pakistani Economic Stress Watch

Post by Dilbu »

Pakistan to receive $2bn from Qatar in bilateral support: report
Pakistan is likely to receive $2 billion in bilateral support from Qatar to help cushion its financial crunch and the subsequent risk of default. The country is also expected to receive $1 billion from Saudi Arabia in oil financing and in investments from UAE worth similar amount.
Aditya_V
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Re: Pakistani Economic Stress Watch

Post by Aditya_V »

The USD 2Bn is probably linked to this. Pakis to provide security services for Qatar football world cup.

Manish_P
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Re: Pakistani Economic Stress Watch

Post by Manish_P »

^ Well, it takes a uniformed jihadi to spot a non-uniformed Jihadi
kit
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Re: Pakistani Economic Stress Watch

Post by kit »

Aditya_V wrote:The USD 2Bn is probably linked to this. Pakis to provide security services for Qatar football world cup.
Paki Army is always for hire, for whatever purpose (to put in another way., an a$$ wipe to be discarded after use). Their business inside pk is probably not going well.
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Re: Pakistani Economic Stress Watch

Post by g.sarkar »

https://www.dawn.com/news/1705649
‘CPEC body brought no investment’
Staff Reporter, August 19, 2022

ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives Prof Ahsan Iqbal on Thursday eulogised China’s continued support for Pakistan, saying Beijing had been supporting infrastructure development since President Xi Jinping during his visit to Islamabad in 2014 announced investing $46 billion under the China-Pakistan Economic Corridor (CPEC).
However, for a second day running, the minister castiga­ted the CPEC Authority, saying the entity has not been able to attract any investment ever since its inception three years ago, APP reported. A news report on Wednesday had quoted him as calling for the dissolution of the CPEC Authority.
Talking to journalists on Thursday, he said “not a single dollar has been invested” in the CPEC project after the creation of this authority.
The CPEC Authority was formed in 2019 to ensure uninterrupted progress on its projects and coordination among the departments concerned.
Mr. Iqbal claimed that earlier an investment of $29 billion had come into the CPEC project.
“That is why now we are going to adopt the same mechanism which had been followed from 2013 to 2019 so that this project can be implemented in the best possible way.”
He disclosed that China had agreed to bring more investment into the CPEC project.
Earlier, speaking at ‘China-Pakistan Economic Corridor Green Development High Level Policy Dialogue’, organised by Sustainable Development Policy Institute (SDPI), Mr. Iqbal said the CPEC agreement was followed by an investment inflow of $29 billion.
.....
Gautam
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Re: Pakistani Economic Stress Watch

Post by Manish_P »

Gulf ummah birathers only making verbal commitments... so Gulf widening between official and un-official PKR exchange rate :((

Yawn - Foreign currencies dry up, rupee continues to fall
Almost all foreign currencies have disappeared from the open market, with citizens struggling to get hold of the dollar even at Rs230.

In the interbank market, the rupee continued to fall for the fourth session in a row, losing 0.47 per cent to close at 219.41 on Thursday.

The open market quoted the dollar at about Rs 10 higher than the interbank market, currency dealers said, as all foreign currencies were in short supply, including the dollar, Saudi riyal and UAE dirham.

Bankers also questioned the official price of Rs 219.41, claiming that the dollar was changing hands at much higher rates among banks.
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Re: Pakistani Economic Stress Watch

Post by Manish_P »

Frydin to Frydin happy news... records being shattered by Al Bakistan

Yawn - Weekly inflation continues to shatter records, rises to 44.6 pc
Inflation measured by the Sensitive Price Index (SPI) continued to climb in the week that ended on August 25, jumping to a record 44.58 per cent year-on-year.

Data shared by the Pakistan Bureau of Statistics (PBS) on Friday showed that the index rose due to higher prices of essential food items — tomatoes, onions, pulses and cooking oil — and fuel.

Prior to this, the highest year-on-year weekly inflation figure was 42.3 pc, which was recorded for the week ending on Aug 18.
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Re: Pakistani Economic Stress Watch

Post by Deans »

Anujan wrote:How would qatar buy PIA and ensure that it doesn't compete and is complementary to Qatar airlines?
Qatar airlines is better run than PIA and without the problems of random parts of planes falling off, toilets overflowing or flight staff smuggling heroin.
Would you buy this even if someone gives it to you for free?
Qatar airlines is a tough negotiator. If they buy PIA it will be almost for free. It has some advantages.
- They can return leased aircraft and scrap owned ones. Sack many employees.
- They will have a price inelastic Gulf market (monopoly on Qatar route and no further seats being added to other Gulf destinations).
- Slots in European countries given to PIA will go to Qatar Air.
- Monopoly on routes within Pak, which they will operate with more fuel efficient aircraft.
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Re: Pakistani Economic Stress Watch

Post by Deans »

300% more rain than average Aug in Baluchistan and Sindh. Allah has been kind.
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Re: Pakistani Economic Stress Watch

Post by Manish_P »

Deans wrote:300% more rain than average Aug in Baluchistan and Sindh. Allah has been kind.
Deans ji, Bakis are breaking records everywhere.. and the inflation is not just in the economy but also in the 'quoted' rain figures..

after all they have to make all efforts to get the west to reimburse the tens of trillions of dollars they lost due to the war on terror

Yawn - Pakistani community in US against party politics during floods
Sindh and Balochistan are witnessing the heaviest rainfall this year since 1961, as the two provinces recorded until Thu­rsday 522 and 469 per cent more than the annual downpour, respectively.
And the US is again encouraging regime change saazish
Pakistan reached out to the Pakistani-American community on Friday, urging them to help the rain and flood victims across the country, while community leaders asked people to “rise above party politics” during this natural calamity.

But community leaders warned that an appeal to donate to the Prime Minister’s Fund may not be very effective as an overwhelming majority in the Pakistani-American community supports Imran Khan. :P :((
Now waiting for aman ki tamasha gang and entities like Khalsa aid to join in..
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Re: Pakistani Economic Stress Watch

Post by g.sarkar »

https://www.ft.com/content/0ce97a59-98b ... 28ff6cc774
Pakistan floods kill more than 1,000 and threaten economic recovery
Torrential rain causes widespread damage ahead of crucial IMF decision on $1.2bn financial package
Benjamin Parkin and Farhan Bokhari in Islamabad, AUGUST 27 2022

More than 1,000 people have been killed and nearly 1mn homes damaged in the worst flooding to hit Pakistan in at least a decade, as the latest in a series of climate change-induced catastrophes imperils the country’s economic recovery.
Torrential rains and flooding have swept through Pakistan in recent weeks, hitting Sindh, Balochistan and Khyber Pakhtunkhwa, three of the country’s four provinces. Sindh has received almost eight times the average amount of rainfall in August, according to government data, wiping out crops such as rice and cotton.
Officials estimated that more than 30mn people have been affected, or about 15 per cent of the population, and thousands were forced to abandon their homes.
“It’s the climate catastrophe of the decade,” climate change and environment minister Sherry Rehman told the Financial Times in an interview. “In living memory, we have not seen such a biblical flood come to Pakistan.”
South Asia has been beset by extreme weather events in recent months, with heatwaves succeeded by torrential rains that have killed thousands of people across India, Bangladesh and Afghanistan.
The floods have added to Pakistan’s financial distress. The IMF’s board on Monday is expected to approve a $1.2bn disbursement to shore up the country’s dwindling foreign currency reserves, which have fallen to about five weeks’ worth of cover for imports.
Inflation has soared, with an indicator of “sensitive” items such as food and other essentials last week rising to 45 per cent year on year.
Rehman predicted that authorities may be forced to divert development grants and potentially budget funding to manage the fallout.
“We’ll have trouble with our import bills and foreign exchange reserves will be impacted because we’ll be importing food now, in a much larger [way],” she said. “Once our trade balance is impacted, the rupee will be further weakened. We’re facing a very tough time ahead.”
The government is preparing a UN appeal for humanitarian aid to support affected areas and Prime Minister Shehbaz Sharif met foreign diplomats on Friday to push for more international aid. “The ongoing rain spell has caused devastation across the country,” he said.
Investors had feared that Pakistan could follow Sri Lanka in defaulting, though the prospect of upcoming assistance from the IMF — part of a $7bn package launched in 2019 — has largely eased those concerns. China recently lent more than $2bn to Islamabad, while Saudi Arabia has agreed to renew a $3bn deposit at Pakistan’s central bank. Pakistani authorities anticipate more aid from countries including Qatar.
.....
Gautam
Manish_P
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Re: Pakistani Economic Stress Watch

Post by Manish_P »

Has it or has'nt it..

Yawn - IMF approves much-needed $1.1bn payout
The Exe­cu­tive Board of the Interna­tional Monetary Fund (IMF) on Monday completed the combined 7th and 8th revi­ews of a loan facility for Pak­is­tan, allowing immediate disbursement of $1.1 billion to the country, said an official IMF announcement.

The statement pointed out that the disbursement “brings total purchases (money made available) for budget support under this arrangement to about $3.9 billion.”

This Extended Fund Facility (EFF) arrangement — signed in July 2019 — was to provide $6bn to Pakistan during a 39-month period. On Monday, the IMF board approved an extension of the programme until end-June 2023.

The board also approved “rephasing and augmentation” of Pakistan’s access to the funds by SDR720 million ($934m) that will bring the total access under the EFF to about $6.5bn.

The executive board also approved Pakistani authorities’ request for waivers of nonobservance of performance criteria.
A-o-A victory for Bakistan. No need to take any efforts to repay it now... only need to find another high-value asset to barter.
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Re: Pakistani Economic Stress Watch

Post by Bart S »

g.sarkar wrote:https://www.ft.com/content/0ce97a59-98b ... 28ff6cc774
Pakistan floods kill more than 1,000 and threaten economic recovery
So western media peddling the Paki narratives that 1> There was an economic recovery on the cards and 2> The floods are causing damage to the economy of the state of Pakistan.

Both are incorrect. Sure, the Baloch and Pashtuns who were already neglected and marginalized are now being wiped out, but the Punjabi elites who make up the Pakistani state don't care and aren't really doing anything much to help them anyway. And it's not like they have any industry or production facilities in the affected regions, the only thing that they do there is extract gas and minerals and host terrorist training facilities.

Contrary to the propaganda that COVID was a blow to Pakistan's economy, it actually gave them a lifeline as they got foreign aid, major debt rescheduling, and the global economic slowdown meant that that their FOREX situation actually improved (due to the structural problems in their own economy where any kind of fast growth leads to a balance of payment crisis).

The floods are playing a similar role. They get to weasel out of reforms that the IMF were demanding, get to fast track the IMF approvals, beg for aid, put pressure on India to resume trade etc.
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Re: Pakistani Economic Stress Watch

Post by g.sarkar »

There has been a lot of speculation that India may help Pakistan out during the flood. I hope it is just that, mere speculation. The exports to Pak has been reduced, but not eliminated. The figures for 2021 is given:
https://tradingeconomics.com/india/exports/pakistan
I am sure this does not include trade via certain Gulf Countries.
Gautam
hnair
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Re: Pakistani Economic Stress Watch

Post by hnair »

g.sarkar wrote:There has been a lot of speculation that India may help Pakistan out during the flood. I hope it is just that, mere speculation. The exports to Pak has been reduced, but not eliminated. The figures for 2021 is given:
https://tradingeconomics.com/india/exports/pakistan
I am sure this does not include trade via certain Gulf Countries.
Gautam
People apparently come to ask for donations to Pakjabi wallets:
Tweet
Rakesh Krishnan Simha
@ByRakeshSimha

The Red Cross people knocked on my door this morning and asked if we could contribute towards the floods in Paxtan. I said we'd love to, but our garden hose only reaches to the driveway.
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Re: Pakistani Economic Stress Watch

Post by hnair »

Deans wrote:300% more rain than average Aug in Baluchistan and Sindh. Allah has been kind.
Take any such metrics out of pak with a pinch of salt. These are same guys who cleaned up f16 debris, denied their Kargil dead, denied kasab as their citizen and conned US about bin Laden. It is dead easy to come with 3000% for these scammers let alone 300% figures

1000 deaths per month are like regular Baloch body count due to khakis slaughtering them. A nation that can buy Chinese junk planes and frigates after spending billions can well afford to take care of their own
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Re: Pakistani Economic Stress Watch

Post by g.sarkar »

All of a sudden YT is full of appeals to India to help Pakistan. Very disturbing:
1.
https://www.youtube.com/watch?v=eU4KqM8 ... nel=APGYAN
Pm modi ke tweet se Pakistan me khushi pak media hairan, india will help
2.
https://www.youtube.com/watch?v=A8K1Q-W ... tanspecial
PM Modi ke tweet se pakistan mein khushi ki lehar dodi | Food shortage
3.
https://www.youtube.com/watch?v=MLHXKQQ ... =RajNewsMP
Modi Sahab Madad Karo Koum Ujda Chaman Ho Gayi
4.
https://www.youtube.com/watch?v=Jr6buYp ... stanKiAwaz
"मानवता" की मदद के लिए विश्व की उम्मिदे भारत से| पाकिस्तान तो बिना भारत के मदद के ज़िन्दा नही रहेगा
5.
https://www.youtube.com/watch?v=WUf7zyd ... el=IndiaTV
Special Report: Pakistan में टमाटर, प्याज़ खत्म, भुखमरी का डर | भूखा, प्यासा Pakistan News
6.
https://www.youtube.com/watch?v=Qhtv8oi ... ewsNetwork
Modi ke tweet se pak me uti madad ki mang |
Gautam
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Re: Pakistani Economic Stress Watch

Post by sanjaykumar »

I suggest viewing Arif Ajakia’s YT video where he reproduces the Muslim lal topi’s exhortation to gazwa e Hind.

Chilling stuff. I may not agree but I would understand why Indians/Hindus would lift not finger to help Pakistan. It would be difficult to fault such a decision.
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Re: Pakistani Economic Stress Watch

Post by Deans »

g.sarkar wrote:All of a sudden YT is full of appeals to India to help Pakistan. Very disturbing:
One should mention in the comments section that Pak banned trade with India, so they can't accept any aid from us. They also didn't allow shipments of wheat through Pak, to help starving Afghans - until they relented after International pressure.
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Re: Pakistani Economic Stress Watch

Post by g.sarkar »

https://www.thehindu.com/news/internati ... 826617.ece
Pakistan can consider importing vegetables, other edible items from India: Finance Minister Ismail
PTI, ISLAMABAD, AUGUST 29, 2022

Pakistan is witnessing a massive surge in the prices of various vegetables and fruits due to devastating floods
Pakistan's Finance Minister Miftah Ismail on August 29 said the government can consider importing vegetables and other edible items from India following the destruction of standing crops due to massive floods, three years after Islamabad downgraded trade ties with New Delhi over the Kashmir issue.
Pakistan is witnessing a massive surge in the prices of various vegetables and fruits due to devastating floods as the supply of vegetables from Balochistan, Sindh and south Punjab has badly been affected because of the disaster.
Addressing a press conference, Finance Minister Ismail said that the government could "consider importing vegetables and other edible items from India" to facilitate people after recent floods destroyed crops across the country, state-owned Radio Pakistan reported.
He made the comment in response to a question.
Pakistan downgraded its trade relations with India in August 2019 after India's decision to revoke Article 370 which granted a special status to Jammu and Kashmir.
Citing a source, Dawn newspaper reported that former security adviser Moeed Yousuf was working on some proposals regarding trade with India.
On record, former commerce adviser Razak Dawood also spoke on several occasions for the resumption of trade with India, the paper said.
In March 2021, the Economic Coordination Committee (ECC) had announced it would allow the private sector to import white sugar from India and cotton via the Wagah border. However, the decision was reversed within days following severe criticism from the main opposition parties — Pakistan Muslim League-Nawaz and Pakistan People's Party — who are now in a coalition government.
.......
Gautam
They want a fig leaf. Will India oblige?
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Re: Pakistani Economic Stress Watch

Post by RCase »

g.sarkar wrote:https://www.thehindu.com/news/internati ... 826617.ece
.......
Gautam
They want a fig leaf. Will India oblige?
I hope India does not oblige. Given past experience, even if India were to show magnanimity, it will get bitch slapped by 'Ghairatmund Mussalman Quam'. When PoK was flooded in the past, India offered to help rescue efforts with IAF choppers, but Atimi Takat Quam demanded that they would accept Indian helicopters so long as it was flow by Pak Airforce!

Indian govt should just do lip service and goad their Iron Brother to help them ... 'That is life'... as the Cheeni Birather said in SL.
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Re: Pakistani Economic Stress Watch

Post by Manish_P »

I don't think there is any cause for worry. Whatever Showbaaz proposes Islamist Khan will oppose and vice versa..

I need Indian media just needs to leak that PM Modi wants both SS and IK to work together in these tough times and is open to mediate between them as a big brother. Bas then just watch bakistan media go apeshit :twisted: forcing both of them to paint the other as an Indian agent..
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Re: Pakistani Economic Stress Watch

Post by Anujan »

https://www.thehindu.com/news/internati ... 826617.ece
Pakistan can consider importing vegetables, other edible items from India: Finance Minister Ismail
PTI, ISLAMABAD, AUGUST 29, 2022
I think that we should help out our brothers across the border.

But Pakistan's stated position is that it wont resume trade ties till Kashmir is handed over.

So I think as a large hearted big brother, we should hand over Kashmir and also some vegetables.
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Re: Pakistani Economic Stress Watch

Post by g.sarkar »

https://theworldnews.net/in-news/exclus ... vt-sources
Exclusive | Trade with Pak Not Possible until It Backs Cross-border Terror: Indian Govt Sources
8/29/2022

Pakistan finance minister Miftah Ismail had said that his government could 'consider importing vegetables and other edible items from India' to facilitate people after recent floods destroyed crops across the country
India is happy that Pakistan is thinking positively about its economy but trade between the two countries is not possible until Islamabad keeps promoting cross-border terrorism, top government sources told CNN-News18 on Monday.
Their response came shortly after Pakistan finance minister Miftah Ismail said that his government could “consider importing vegetables and other edible items from India” to facilitate people after recent floods destroyed crops across the country.
“We have reports of almost 50 foreign terrorists from Pakistan in India and many are sitting near the border,” the government sources told CNN-News18. “We are open for trade talks but Pakistan needs to act and stop terrorism immediately.”
......
Gautam
India won’t trade with Pak, is open to giving alms
https://www.youtube.com/watch?v=4u06ZuP ... TFIEnglish
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