Pakistani Economic Stress Watch

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yensoy
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Re: Pakistani Economic Stress Watch

Postby yensoy » 11 Jun 2020 13:58

Indian Railways are solvent primarily because of the movement of coal. Also of iron ore and other ores, POL (petroleum, oil, lubricants), containers, cement, iron & steel products and foodgrains in no particular order.

ML-1 would be viable if it can check off a majority of the above categories (or other categories than what are listed). Pakis don't use coal. They don't produce ores, or consume ores. I think there will be a lot of finished Chinese products like steel rebar, and containers laden with furniture/appliances/electronics being sent northwards from Karachi port to build and furnish the homes of the crore commanders. And possibly some granite boulders, unprocessed bales of cotton and minerals in the return direction to be sent back to China for manufacturing and value addition.

Aditya_V
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Re: Pakistani Economic Stress Watch

Postby Aditya_V » 11 Jun 2020 14:01

It is still pretty cheap, I think some EU consultants must be added to make the project 10 Billion. Wouldnt it better Pakis do away with the Railways itself?

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Re: Pakistani Economic Stress Watch

Postby schinnas » 11 Jun 2020 14:42

I have a feeling that Balochi freedom fighters will take panga woh the notion of building ML-1 from the looted Balochi wealth and to perpetuate the subjugation of Balochistan. The security costs for this project would be enormous.

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Re: Pakistani Economic Stress Watch

Postby Vips » 25 Jun 2020 17:14

Pakistan to remain on FATF grey list.

Pakistan is likely to remain on the grey list of the Financial Action Task Force (FATF) for failing to comply with the global terrorist financing watchdog’s deadline to prosecute and penalise terrorist financing in the country.

Source said the decision, taken at the third and final plenary meeting on Wednesday under the Chinese Presidency of Xiangmin Liu, will be announced soon.

At the FATF meeting chaired by China in Paris in February this year, Islamabad had been told that “all deadlines” had expired and if they didn’t prosecute and penalise terrorist financing by June 2020, the watchdog would take action with financial consequences.

At the Paris plenary, the FATF had expressed serious concerns over Pakistan’s failure to complete its 27-point action plan in line with the agreed timelines – which ended in September 2019.


FATF presidency is moving from China to Germany from July for the next one year.

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Re: Pakistani Economic Stress Watch

Postby Manish_P » 25 Jun 2020 18:32

^ Pardon me, but what is the next shade of grey ? :roll:


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Re: Pakistani Economic Stress Watch

Postby g.sarkar » 26 Jun 2020 04:45

Manish_P wrote:^ Pardon me, but what is the next shade of grey ? :roll:

Brother, there are 50 shades. Ask dimran.
Gautam

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Re: Pakistani Economic Stress Watch

Postby Rishirishi » 26 Jun 2020 05:14

Manish_P wrote:^ Pardon me, but what is the next shade of grey ? :roll:


It should impact the credit rating of Pakistan (read, they have to pay higher interest rates on loans).

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Re: Pakistani Economic Stress Watch

Postby abhik » 26 Jun 2020 12:27

^^^
What % of their loans are actually on commercial terms ( where credit ratings would matter)? I'm assuming most of their loans are courtesy of 3.5 fore fathers.

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Re: Pakistani Economic Stress Watch

Postby Prem » 27 Jun 2020 03:14

https://www.ft.com/content/4af8101b-599 ... pe=nongift
Pakistan is trying to renegotiate Belt and Road repayments after it alleged that Chinese companies had inflated power project costs by billions of dollars.The renegotiation talks began after Islamabad released a report by a committee convened by the prime minister that accused Chinese and local power companies of “malpractices” and exaggerating costs. The financial stress caused by the coronavirus pandemic has lent the negotiations greater urgency.The report said coal plants Huaneng Shandong Ruyi (Pakistan) Energy and Port Qasim Electric Power Company were overcharging by about $3bn over the 30-year project lifetime through inflated set-up costs and interest payments. Set-up costs alone for the two plants were inflated by more than Rs32bn ($204m) over “misrepresentation” of interest payments.

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Re: Pakistani Economic Stress Watch

Postby Rsatchi » 07 Jul 2020 19:00

https://youtu.be/gT20kxHw3EQ
Watch from 12.33 onwards : all assessment of crop production growth rate/ live stock growth/ milk production.
Crop production assessment : pre independence method crop survey/agriculture census 2010 last
live stock growth: last census 2006 and prior to that 1996 census
Milk production debatable
Nobody knows what is the agriculture status : Sab maya sab kucch madrasa maths
How the hell the IMF and others keep pumping money into this bottomless pit!!!

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Re: Pakistani Economic Stress Watch

Postby g.sarkar » 07 Jul 2020 19:53

https://asiatimes.com/2020/07/pakistan- ... -collapse/
Pakistan on brink of Covid-19 financial collapse
Pakistan is spending too much on the military and debt servicing amid coronavirus-induced economic devastation
By FM SHAKIL, JULY 7, 2020

PESHAWAR – Pakistan’s financial woes are going from bad to worse as the national fiscal deficit surges to over 7% of gross domestic product (GDP) and could breach 9-10% as state revenues dry up amid Covid-19 economic devastation. That’s raising questions among analysts and business executives of whether the country is headed towards a budgetary blowout-induced financial collapse.
Approved by the National Assembly on June 29, Pakistan’s 2020-21 budget is notable for a 3.4 trillion rupees (US$20.7 billion) fiscal gap that officials say will be bridged mainly by bank borrowing. The new budget cuts subsidies, increases petroleum levies, caps salaries and pensions, and slashes provinces’ share of state revenues in a belt-tightening bid to tame the galloping deficit. That comes as economists predict the economy will slip into negative growth territory this year.
Fast-rising defense spending, a reflection of the military’s strong influence over Prime Minister Imran Khan’s coalition government, and high debt servicing liabilities, meanwhile, will both drain the national coffers at a time when the economy desperately needs a growth-stimulating fiscal infusion.
“The budget accentuates the fast-shrinking fiscal space which is symptomatic of a bigger economic abyss,” Agha Shahab Ahmad Khan, president of Karachi Chamber of Commerce & Industry (KCCI) told the Asia Times. “If they did not make some structural adjustments, the country is likely to fall into a monetary crisis in the next financial year,” he predicted.
Over the last two years, coincident with slowing economic growth, Khan’s ruling Tehreek-e-Insaf (PTI)-led government has added nearly $22 billion to the nation’s international debt pile.That figure includes $5.5 billion worth of borrowings from Saudi Arabia, the United Arab Emirates and Qatar, $6.7 billion from China and $4.8 billion from the International Monetary Fund (IMF) and Asian Development Bank (ADB).
Pakistan has also sought and recently received $1.39 billion from the IMF under a rapid financing instrument facility to cushion economic shocks caused by its Covid-19 outbreak. The country had at least 96,236 cases and 1,572 deaths as of July 7.
.....
Gautam

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Re: Pakistani Economic Stress Watch

Postby Vips » 22 Jul 2020 04:22

Inspite of the increased remittances from abroad, Puki toilet paper value vis a vis the US$ has crashed from 164 to 168 in the last one week :wink:

Believe it or not in Pakistan there is a post called Director General (Debt) at Ministry of Finance :rotfl:

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Re: Pakistani Economic Stress Watch

Postby Brad Goodman » 22 Jul 2020 07:12

Vips wrote:Inspite of the increased remittances from abroad, Puki toilet paper value vis a vis the US$ has crashed from 164 to 168 in the last one week :wink:

Believe it or not in Pakistan there is a post called Director General (Debt) at Ministry of Finance :rotfl:


I dont think remittances would be increasing with oil prices hitting rock bottom there isnt much going on in the desert kingdoms. Those illegal ones in Europe must also be jobless and with lockdown all legal cabbies must also be twiddling their thumbs

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Re: Pakistani Economic Stress Watch

Postby Deans » 22 Jul 2020 09:44

Brad Goodman wrote:
Vips wrote:Inspite of the increased remittances from abroad, Puki toilet paper value vis a vis the US$ has crashed from 164 to 168 in the last one week :wink:

Believe it or not in Pakistan there is a post called Director General (Debt) at Ministry of Finance :rotfl:


I dont think remittances would be increasing with oil prices hitting rock bottom there isnt much going on in the desert kingdoms. Those illegal ones in Europe must also be jobless and with lockdown all legal cabbies must also be twiddling their thumbs


Any `increase' in remittances would be Pakistanis leaving the gulf for good (assuming they find a flight since PIA is grounded) and bringing home whatever savings they have. They are also far more dependent on remittances than we are.

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Re: Pakistani Economic Stress Watch

Postby Aditya_V » 22 Jul 2020 12:46

All this premature, Paki Ruppee needs to depreciate to 200 plus to the USD and thier grain , gas prices need to increase by 100% .PA can use its weapons to enforce Mango Abduls are disciplined and keep Bhutto's promise.

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Re: Pakistani Economic Stress Watch

Postby chetak » 22 Jul 2020 18:47

g.sarkar wrote:
Manish_P wrote:^ Pardon me, but what is the next shade of grey ? :roll:

Brother, there are 50 shades. Ask dimran.
Gautam



the next shade of gray for im the dim is "shalwar brown" a particularly becoming shade for the terrorist state of pukistan

bajaoed bajwa has already browned his after watching his selected PM do such an outstanding job.

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Re: Pakistani Economic Stress Watch

Postby Brad Goodman » 23 Jul 2020 07:23

Some Bollywood celebrities have links with Pakistan army, ISI: Jay Panda

Bharatiya Janata Party (BJP) national vice president and spokesperson, Baijayant ‘Jay’ Panda, on Wednesday made a sensational charge linking some Bollywood personalities to Pakistan and the ISI. The former Member of Parliament from Odisha claimed in a tweet that some Bollywood personalities have business and personal links with ‘certain Pakistanis and NRIs’ who ‘encourage violence in Jammu and Kashmir’.
He further asserted that these elements also have verifiable links to the Pakistani army and Inter-Services Intelligence (ISI), the notorious intelligence agency of the hostile neighbour. Panda also urged patriotic Bollywood people to shun such dodgy characters within the industry.


Looks like Salman Khan family and Anil Kapoor family are tight with Underworld, not that others are any far behind but these two seem to be brazenly open about it.

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Re: Pakistani Economic Stress Watch

Postby Brad Goodman » 23 Jul 2020 07:35

Brad Goodman wrote:Some Bollywood celebrities have links with Pakistan army, ISI: Jay Panda

Bharatiya Janata Party (BJP) national vice president and spokesperson, Baijayant ‘Jay’ Panda, on Wednesday made a sensational charge linking some Bollywood personalities to Pakistan and the ISI. The former Member of Parliament from Odisha claimed in a tweet that some Bollywood personalities have business and personal links with ‘certain Pakistanis and NRIs’ who ‘encourage violence in Jammu and Kashmir’.
He further asserted that these elements also have verifiable links to the Pakistani army and Inter-Services Intelligence (ISI), the notorious intelligence agency of the hostile neighbour. Panda also urged patriotic Bollywood people to shun such dodgy characters within the industry.


Looks like Salman Khan family and Anil Kapoor family are tight with Underworld, not that others are any far behind but these two seem to be brazenly open about it.


The link below is from NK Sood's video
https://twitter.com/vishkanyaaaa/status ... 86177?s=20

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Re: Pakistani Economic Stress Watch

Postby Ardeshir » 23 Jul 2020 08:16

Here's Shahrukh Khan's architect, 'Tony' Ashai. His actual Paki name is Aziz.
https://www.youtube.com/watch?v=I4HLcp1ddTM

And here's him spewing venom against India about Kashmir. https://www.aninews.in/news/world/us/pa ... 722160147/

Now he has been spewing venom for years, this is not a new phenomenon. Why would you work with such a Paki, unless if you agreed with his views, or you were under extreme duress?

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Re: Pakistani Economic Stress Watch

Postby mody » 24 Jul 2020 14:54

Ardeshir wrote:Here's Shahrukh Khan's architect, 'Tony' Ashai. His actual Paki name is Aziz.
https://www.youtube.com/watch?v=I4HLcp1ddTM

And here's him spewing venom against India about Kashmir. https://www.aninews.in/news/world/us/pa ... 722160147/

Now he has been spewing venom for years, this is not a new phenomenon. Why would you work with such a Paki, unless if you agreed with his views, or you were under extreme duress?


He's actually an Indian. Born in Srinagar, did his college education from Chadigarh.

Aditya_V
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Re: Pakistani Economic Stress Watch

Postby Aditya_V » 24 Jul 2020 14:58

There are reports that this Tony Ashai is a former JKLF miltant.

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Re: Pakistani Economic Stress Watch

Postby bharathp » 29 Jul 2020 10:01

https://www.yahoo.com/news/pakistan-imp ... 28614.html

Pakistan - which had been exporting sugar until earlier this year - has a shortage after production fell below demand in the 2019/20 marketing year that ends on Sept. 30.

The price has risen sharply in the last few months, reaching as much as 90 rupee a kg amid a scandal that sugar barons have made billions.


some interesting reading on who owns the sugar mills "pre CPEC" (2002 report)

The Al-Noor Group of Industries started operations with an export company in
the early 1950. The group’s core business continues to be sugar manufacturing
and trading, with two plants: Al-Noor Sugar Mills and Shahmurad Sugar Mills
Limited. The group also controls Modaraba Fund, a large trading and investment
fund. The group owns unlisted companies in other economic sectors such as
textiles (Al-Asif Textile, Ahmad Hosiery Mills (pvt) Ltd, Fantasy Garments, Vilon
Garments (pvt) Ltd.) and trading (Sufyan Trading, Ebrahim Trading). Other
concerns include Aurangzeb IMPEX, Sindh Particles Board, Delite Industries, AlNoor Fertilizer.


Ghulam Faroow, from the Khattak family of North West Frontier Province
(NWFP), heads the Mirpur Khas Sugar Mills. He founded the governmental
Pakistan Industrial Development Corporation (PIDC) and headed several
government corporations until 1968. Listed among his businesses are Cherat
Cement, Cherat Papersack, Greaves Air Conditioners; and some unlisted
companies like Greaves Cotton (pvt) Ltd, Associated Constructors (pvt) Ltd,
Greaves Modaraba Services (pvt) Ltd, Greaves Carbon Products (pvt) Ltd and
Greaves Power Engineering.


The United Group of Companies (Sadiqsons) grew considerable during the
premiership of Nawaz Sharif (1990-93, 1997-99). In the early 1990s, the group
bought Pasrur Sugar Mills for a token price of one (1) rupee. The mill did not
perform and the United Sugar Mills defaulted in its loan repayments to the
nationalized commercial banks.
Other companies under the group include United
Sugar, Sajjad Textile, International Floor Covering, United Carpets, United
Woolen, United Jute, Sana Fabrics, Ahmad Spinning. Unlisted companies
include: United Paints, Pasrur Sugar Mills, S. Mohammad Saeed Goreeja & Co.


The Bawany Group was founded by two brothers towards the end of the XIX
century, when they migrated to Burma. After returning to India, they moved to
Pakistan in 1947. Members of Bawany family are active in several sectors:
textiles, jute, sugar, particle board, oxygen, leather, garments, tanneries and
cables. Al-Noor (see above) is reported to be a offshoot of Bawany and the two
have joint interests in several companies. Companies owned include Bawany
Sugar, Faran Sugar, Pioneer Cables, Bawany Air Products Ltd., Annoor Textile,
Bewany Metals, Latif Jute Mills, Pakistan Telephone Cables.


The strength of the Shahnawaz Group lies in the parent company Shah Nawaz
Limited, one of the biggest trading company in Pakistan, which represents
multinationals like the German carmaker Mercedes Benz and NEC computers.
The group is also involved in trade with former socialist countries. Among the
companies owned are the Shah Taj Sugar, Shezan International, Shahnwaz
Textile, Shah Taj Textile, Benz Industries, Shah Pur Textile; and unlisted
companies such as Hatter Fruits (pvt) Ltd and Shah Nawaz Ltd.


The Fauji Foundation controls several sugar businesses: The Fauji Sugar Mills
Tando Mohammad Khan, the Fauji Sugar Mills Khoski, the Fauji Sugar Mills
Sangla Hill and the Fauji Sugarcane Experimental & Seed Multiplication Farm, all
of whom declared a collective loss of 1 billion Pakistan rupees in 2000 (USD 16.7
million).
The group also owns Fauji Cement Company Limited and the FFC
Jordan Fertilizer Company Limited (FJFC); the Fauji Cereals, the Fauji Corn
Complex, the Fauji Polypropylene Products, Foundation Gas, the Fauji Fertilizer
Company Limited, the Fauji Oil Terminal and Distribution Company Limited, the
Mari Gas Company Limited and the Fauji Kabirwala Power Company Limited.
The Premier Group established one of the oldest sugar mills in Pakistan, the
Premier Sugar Mills. It also owns Chasma Sugar and Frontier Sugar.


the above from http://www.iuf.org/sugarworkers/wp-cont ... w-2002.pdf

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Re: Pakistani Economic Stress Watch

Postby mody » 03 Aug 2020 13:49

Take over of the Pakistani state by the CCP seems to be moving apace.

https://www.msn.com/en-in/news/other/ch ... d=msedgntp

The report cites that 60 military officers, including 3 generals have been dismissed supposedly for showing dissent. Any other news with regards to this?

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Re: Pakistani Economic Stress Watch

Postby chetak » 03 Aug 2020 13:51

mody wrote:Take over of the Pakistani state by the CCP seems to be moving apace.

https://www.msn.com/en-in/news/other/ch ... d=msedgntp

The report cites that 60 military officers, including 3 generals have been dismissed supposedly for showing dissent. Any other news with regards to this?


most likely a coup attempt gone wrong.

Wonder how many others were disappeared quietly.

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Re: Pakistani Economic Stress Watch

Postby Manish_P » 17 Aug 2020 20:44

Maybe Im the Dim should request the saudis to ban Pakis from the Haj

Remittances to Pakistan hit record high due to subdued Haj spending

Remittances from Pakistani workers employed abroad hit the highest level for a single month in July, officials said on Monday, increasing 36.5 per cent year on year, mostly thanks to less spending on Haj pilgrimages because of the coronavirus pandemic.

“More good news for Pakistan economy,” Prime Minister Imran Khan tweeted. :lol:
“Remittances from overseas Pakistanis reached $2768 million in July 2020, highest ever amount in one month in the history of Pakistan.”


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Re: Pakistani Economic Stress Watch

Postby Aditya_V » 17 Aug 2020 21:04

It probably meant many returned home for good and emptied thier Bank balances in the Gulf.

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Re: Pakistani Economic Stress Watch

Postby Vips » 21 Aug 2020 03:44

Pension bigger issue than circular debt: PM.

Prime Minister Imran Khan has said the issue of pension is even more serious than that of the circular debt and this problem must be resolved in a planned and organized manner.

“The government is paying Rs470 billion on account of pensions [to former government employees or their spouses]. This amount is almost equal to the amount [Rs500billion] that we pay to the existing government employees as salaries,” :lol: the PM was quoted as saying during a cabinet meeting on Tuesday.

Imran Khan said the provinces are facing the same problem.

“At many universities, the amount spent on paying pensions has increased more than spending on salaries. The problem must be streamlined even if we have to hire the world’s top consultant for it,” he added.


What is the need to pay the Pensions hainji? Just declare all the former Government employees and their spouses as wajibul-cutlet.

Problem solved Paki ishtyle :rotfl:

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Re: Pakistani Economic Stress Watch

Postby neeraj » 21 Aug 2020 04:38

^^^^^^^
Seems to a same ring a roll. Hire a top consultant, they get a fat paycheck and then resign.

https://profit.pakistantoday.com.pk/202 ... ot-resign/ - she can be hired.

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Re: Pakistani Economic Stress Watch

Postby bharathp » 08 Sep 2020 02:26

https://www.yahoo.com/news/pakistan-see ... 30333.html

some interesting bits:
Tethyan says its 1998 agreement with the local Baluchistan government entitled it to the mining lease, subject only to “routine” government requirements.

After an extensive and detailed feasibility study, the company's local subsidiary submitted a mining lease application in 2011. The project stalled in November 2011 when the Baluchistan provincial government rejected the application.

this was during Nawaz sharif era. from PML

2011 was when the opposition to PML - the PPP was in power

The resulting fine, of nearly $6 billion including the damages award and interest, is equal to about 2% of Pakistan’s GDP and is on a par with a recently agreed upon bailout package for Pakistan from the International Monetary Fund.



Documents explaining the award suggest one intention was to penalize Pakistan for having violated its investment treaty with Australia.


Reko Diq's proximity to the Saindak copper mine operated by Minmetals Corp. of China has raised speculation that Pakistan might tap help from Beijing in resolving the problem if its latest effort to get the award revoked fails.

Baluchistan’s Gwardar port is an anchor in the China Pakistan Economic Corridor, part of Beijing’s vast Belt and Road infrastructure initiative.

Minmetals’ chairman, Guo Wenqing, met with Khan, the prime minister, in Beijing last year. But both Pakistani officials involved in the Reko Diq project and Minmentals said there is no discussion of a bailout by China.

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Re: Pakistani Economic Stress Watch

Postby Dilbu » 22 Oct 2020 18:01

Mountain of debt
The power sector’s outstanding debt, known as ‘circular debt’ in common parlance, is reaching new heights as the government gropes in the dark to find a solution to a problem that is becoming untenable. A new Nepra report estimates the debt to have increased by more than a third to Rs2,150bn in the last fiscal from Rs1,600bn a year ago. The Nepra report acknowledges that electricity theft had increased and more people had delayed or defaulted on payment of their bills owing to financial stress during the pandemic. But at the same time, it says that the government’s policies of raising tariffs and resorting to revenue-based blackouts (on high-loss feeders) are to blame for the increased power theft and defaults, which, in turn, are adding to circular debt liabilities.

Image

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Re: Pakistani Economic Stress Watch

Postby george » 22 Oct 2020 20:29

@dilbuji

When are you planning to shower your blessings on napak?

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Re: Pakistani Economic Stress Watch

Postby Dilbu » 11 Nov 2020 18:12

PIA plans to dismiss 3500 employees
Pakistan International Airlines (PIA) on Wednesday has decided to sack 3500 employees to lower its deficit and curtail its expenses.

According to details, voluntary separation scheme (VSS) has been introduced under which, the terminated employees will get their dues in 2.5 years.

The national flag carrier has also sought Rs12.87 billion from federal government in this regard.

The PIA administration said that this process will save Rs4.20 billion annually.

On the other hand, PIA has announced Umrah policy for flights from Pakistan to Jeddah and Madinah, which will remain in force till December 31, 2020.

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Re: Pakistani Economic Stress Watch

Postby bharathp » 12 Nov 2020 04:21

dunno if this was already posted - but check it out:

https://in.news.yahoo.com/pakistan-may- ... 57579.html

The second tranche of USD 1 billion of Saudi loan is maturing next month and there is likelihood that the government will return the money – two years after the borrowings, The Express Tribune quoted sources in the Ministry of Finance as saying.


Saudi Arabia had agreed to provide USD 6.2 billion worth of financial package to Pakistan for three years. This included USD 3 billion in cash assistance and USD 3.2 billion worth of annual oil and gas supply on deferred payments.


Pakistan was paying 3.2 per cent interest on the USD 3-billion facility, according to the information that the Ministry of Finance shared with the National Assembly.

The Saudi oil facility has already been suspended while Pakistan has also paid back Saudi Arabia USD 1 billion out of the USD 3 billion in May this year.



A senior Finance Ministry official said that Pakistan could get USD 2 billion from China, like it did last time when it paid back USD 1 billion to Saudi Arabia. The official did not explain whether the Chinese lending will be concessional or the commercial loans.

Chinese authorities have privately expressed reservations over slow progress on the China Pakistan Economic Corridor (CPEC) but they are likely to bail out Islamabad due to the strategic nature of the relations, the report said.

The government has also not been able to get the suspended USD 6 billion IMF programme restored, which is making it difficult for it to continue uninterrupted foreign inflows. The sources said if the IMF programme is not restored in near future, the World Bank inflows may start drying up.



The programme loans from the other two multilateral creditors were also critical to return USD 10.6 billion in maturing loans in the current fiscal year, excluding the Saudi Arabian and the UAE debt.

Pakistan’s gross official foreign currency reserves of about USD 12.2 billion are largely built by taking foreign loans.

Pakistan has also utilized a USD 3 billion Chinese trade financing facility to cushion its reserves. The USD 3 billion facility is also expiring in May next year, which Pakistan has decided to request China to rollover.


After excluding all short term liabilities, the central bank’s reserves are negative by about USD 10 billion, the report said. :rotfl: :D :mrgreen:

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Re: Pakistani Economic Stress Watch

Postby vimal » 12 Nov 2020 04:23

^^ "Pakistan has also utilized a USD 3 billion Chinese trade financing facility to cushion its reserves. The USD 3 billion facility is also expiring in May next year, which Pakistan has decided to request China to rollover."

Who rolls over? Not Xi I believe.

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Re: Pakistani Economic Stress Watch

Postby Vips » 12 Nov 2020 19:44

If Saudi insists on getting back its money then there is no doubt that UAE will also ask back its $2 Billion loan that will mature soon after the Saudi loans. :)

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Re: Pakistani Economic Stress Watch

Postby Aditya_V » 16 Nov 2020 11:43

Guys Pakistan Economy is doing very well, Pakistani Rupee is 157.55 to the US dollar.

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Re: Pakistani Economic Stress Watch

Postby Dilbu » 16 Nov 2020 13:25

Self delete

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Re: Pakistani Economic Stress Watch

Postby Parasu » 16 Nov 2020 16:44

https://www.dawn.com/news/1589922/pakis ... e-official

Reko Diq

"the Australian copper mining joint venture has been given the green light to try to collect 50 per cent of the massive July 2019 $5.97 billion arbitral award against Pakistan following a dispute over a rejected mining project, so long as it agrees to repay those funds if the award is annulled."

https://tribune.com.pk/story/2272418/re ... ne-expires

Bhikhaaristan has no money to even furnish 25% bank guarantee to maintain the stay order. Now Bhikhaaristan is saying that since it has no assets abroad, TCC will find it difficult to collect the award. The advantages of being bhikhaaristan. 8)

Bart S
BRF Oldie
Posts: 2527
Joined: 15 Aug 2016 00:03

Re: Pakistani Economic Stress Watch

Postby Bart S » 16 Nov 2020 19:54

Parasu wrote:https://www.dawn.com/news/1589922/pakistan-engaged-in-talks-to-settle-reko-diq-dispute-official

Reko Diq

"the Australian copper mining joint venture has been given the green light to try to collect 50 per cent of the massive July 2019 $5.97 billion arbitral award against Pakistan following a dispute over a rejected mining project, so long as it agrees to repay those funds if the award is annulled."

https://tribune.com.pk/story/2272418/re ... ne-expires

Bhikhaaristan has no money to even furnish 25% bank guarantee to maintain the stay order. Now Bhikhaaristan is saying that since it has no assets abroad, TCC will find it difficult to collect the award. The advantages of being bhikhaaristan. 8)



I think that they might be entitled to take possession of PIA planes and that hotel (Roosevelt?) that PIA owns in Manhattan. So PIA might not fly abroad, though Pakis might try and weasel out of it somehow.


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