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?

schinnas
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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.

Vips
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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.

Manish_P
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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:


g.sarkar
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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

Rishirishi
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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).

abhik
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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.

Prem
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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!!!

g.sarkar
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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:

Brad Goodman
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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

Deans
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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.

Aditya_V
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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.

chetak
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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.

Brad Goodman
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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.

Brad Goodman
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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

Ardeshir
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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?

mody
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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.

bharathp
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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

mody
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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?

chetak
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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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