Terroristan - October 8, 2018

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Terroristan - October 8, 2018

Postby Peregrine » 20 Dec 2018 22:56

Govt offers IMF Rs190b in new taxes for bailout - Shahbaz Rana

ISLAMABAD: Pakistan has offered the International Monetary Fund (IMF) to impose Rs190 billion worth of additional taxes to restrict budget deficit to Rs2.2 trillion and to further increase interest rates and devalue currency to increase foreign exchange reserves to $13 billion.

These aggressive policy measures have potential to stifle economic growth rate, slowing its pace to only 3.9% in this fiscal year and stoking inflation. A major inflationary measure will be increase in sales tax rates on locally sold textile, leather, surgical, sports and carpets goods, which are currently charged at lower than standard rates. The petroleum products will also be subject to further taxation.

The fiscal and monetary proposals are part of the draft memorandum of Economic and Financial Policies that Pakistan shared with the IMF for securing a bailout package, sources in the Finance Ministry told The Express Tribune. The plan also includes over Rs300 billion anticipated earnings from sale of two government-owned LNG-fired power plants.

Pakistan proposed these measures after the IMF assessment revealed that the country’s overall budget deficit could still widen to Rs2.4 trillion or 6.1% of the Gross Domestic Product (GDP) at end of this fiscal year even after a mini budget introduced just three months ago.

Finance Minister Asad Umar on Wednesday told a parliamentary committee that his government may unveil second mini budget within four months – in early January.

As a result of these new measures, the government hopes that the budget deficit could be restricted to 5.6% of the GDP or Rs2.2 trillion in the first year and to 4.5% or Rs2.6 trillion at the end of the IMF programme. In addition to taking Rs190 billion additional revenue measures, Pakistan has also proposed that quasi-fiscal losses will be cut by Rs380 billion in this fiscal year alone.

However, the IMF has not yet accepted Pakistan’s position of allowing budget deficit equal to 5.6% of the GDP in this fiscal year. It seeks to bring the deficit below 5% in this fiscal year and below 4% at the end of the IMF programme.

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Pakistan and the IMF on Wednesday held another video conference aimed at narrowing down their differences. “Fruitful discussions were held and the IMF raised certain queries on the policy document,” said the Finance Ministry spokesperson Dr Najeeb Khan. He said both the sides have agreed to keep engaged to further narrow down the policy differences.

The government has also assured completely ending price differential subsidies in three years period, sources further revealed. But the IMF was asking an upfront increase in electricity tariffs by Rs3.82 per unit including Rs1.27 per unit increase that the government has already allowed.

The government has also promised to recover cost of syndicated loans taken from the banks to retire circular debt from the end consumers by building in the tariffs. Except for 200 monthly units’ consumers, the subsidies for all other categories will come to an end under the IMF programme.

The government has given an overarching assurance to the IMF that Pakistan will make adjustments in fiscal policies, would tighten import regime and a monetary policy will primarily aimed at targeting inflation.

Revenue measures

Without new measures, the Federal Board of Revenue’s (FBR) tax collection has been projected to increase to just Rs4.1 trillion. With a combination of currency devaluation and new taxes, the collection could jump to Rs4.5 trillion in this fiscal year, Rs5.8 trillion by June 2020 and Rs7 trillion by June 2021.

Pakistan has proposed that it will increase sales tax rate on petroleum products in addition to further increasing petroleum development levy rates. The federal excise duty on beverages will be imposed.

The locally manufactured and imported vehicles could be slapped with federal excise duty. Similarly, the withholding tax rates on non-filers and on imports of finished goods will be massively increased.

The government has also hoped recovering Rs75 billion that are currently stuck up in courts. The Supreme Court of Pakistan has also set up special bench to hear tax relates cases.

The non-tax revenue collection target has been proposed to be increased to Rs1.2 trillion on back of privatisation proceeds of two power plants and sale of 3G and 4G licenses by the Pakistan Telecommunication Authority (PTA).

It has also proposed to the IMF that the current expenditures on account of those subjects that have been transferred to the provinces will be gradually reduced.

Pakistan has proposed to increase tax revenues by 3% of the GDP to 18.1% by 2021-22. The FBR’s tax collection has been proposed to be increased from 11.2% to 13.9% in three years.

But this would require massive tax efforts, particularly in the next fiscal year when Pakistan will have to collect more than Rs5.7 trillion in taxes, the sources said.

Compared to increase in tax revenues, the expenditures have been proposed to slash from 17.4% of the total size of economy to 16.5% in three years.

The PSDP spending will be drastically slashed from 4.2% of the GDP last year to 3.5% by end of the IMF programme. In absolute terms, the PSDP spending will not be more than Rs850 billion even after four years.

The defence expenditures have been projected to increase from Rs1.1 trillion this year to Rs1.7 trillion by June 2022. The interest payments would touch Rs2 trillion mark by June 2019 and will hit Rs3.5 trillion by June 2022. Because of these reasons, the public development spending will be slashed.

Monetary and exchange rate policies

The government has proposed that it stood ready to further adjust the exchange rate in the current fiscal year, which would also be a tool to get additional revenue collection at the import stage. Further currency devaluation will be close to the adjustment made in October.

The interest rate will be further adjusted in the next monetary policy announcement. The increase could be between 50 basis points to 100 basis points over the current rate of 10%, the sources said.

These measures would help build up foreign exchange reserves to around 2.5 months of import or $13 billion at the end of this fiscal year. But all this will hurt the economic growth rate that will plunge to 3.9% this year – down from 13-year high level of 5.8%.

The agriculture sector is expected to take a major hit and could grow only 1.5%, industrial sector 4.5% and services sector 4.4%. Even at the end of the IMF programme, the economic growth rate will be still lower than what the Pakistan Muslim League-Nawaz (PML-N) government had left last year.

“The economic growth rate will be subdued in the first year but the sustainable rate will pick up from ensuing years,” said Dr Khaqan Najeeb while commenting on the possible adverse impacts of the IMF programme.

There will also be a condition to ask four commercial banks, two of them in the private sector, to meet their minimum capital requirements. A national financial stability council will also be setup by the SBP.

The sources said against the free float demand by the IMF, the SBP has proposed to pursue flexible exchange rate policy. It has also assured the IMF that in future the central bank will target only inflation and economic growth rate will not be a major consideration.

There will be strict restrictions on the federal government from borrowing from the State Bank of Pakistan (SBP). The SBP has also assured that it will lift restrictions on advance import payments against the letters of credit (LCs) and other administrative measures taken in the recent months to contain pressures on the balance of payments.

As part of the central bank autonomy, the term of the SBP governor could be increased to five years from three years, the sources said. There will be new criteria for the appointments of SBP governor, deputy governors and the Monetary Policy Committee members.

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Terroristan - October 8, 2018

Postby Peregrine » 21 Dec 2018 05:45

O, what a fall was there, my countrymen!

Pakistan submits Chinese package details to IMF: Asad Umar - Our Correspondent

Finance Minister Asad Umar on Monday stated that Pakistan has formally submitted details of the Chinese package to the International Monetary Fund, Express News reported.

While talking to the media aboard a flight from Karachi to Islamabad, the finance minister apprised State Bank of Pakistan’s monetary and fiscal policies and stressed that the supplementary budget will help improve fiscal deficit.

He further said that the government is taking various measures that will help the country steer out of economic crisis, adding that that the government’s priority is to build homes for people, to undertake infrastructure projects and maximise exports.

Pakistan likely to pay back IMF before Chinese debt: US Treasury official

On the occasion, he reiterated that Pakistan needs to widen its tax net and clampdown on tax evaders.

Addressing questions raised by the United States, Umar maintained that Pakistan has responded to all their queries. “There is nothing we need to conceal regarding the Chinese package,” he said. Truth be told, they must have giving the USA a fictitious Document!

In November, IMF had asked Pakistan to enhance the Federal Board of Revenue’s (FBR) tax collection target by over Rs300 billion to Rs4.7 trillion for this fiscal year, according to finance ministry officials. Pakistan and the IMF also had difference of opinion on transfer of resources to the provinces under the National Finance Commission (NFC) award. The fund wanted provinces to pick the cost of stipends paid under the Benazir Income Support Programme.

PM Imran secures $6b lifeline from Saudi Arabia

Pakistan had invited IMF to review the possibility of signing an extended fund facility aimed at bridging $12 billion financing gap, during the current fiscal year. It had adopted a two-pronged strategy by reaching out to friendly countries and also knocking the door of the IMF.

Officials in the ministry revealed last month that there was still disagreement between the IMF and Pakistan on almost every important issue. They said that the IMF was also demanding full disclosure of China-related debt obligations. The Chinese debt, both public and publically guaranteed, was one of the main sticking points, officials claimed. The minister said Pakistan believed in transparency and it would not hide anything that is related to the external debt. The Officials are lying through their Dentures!

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Re: Terroristan - October 8, 2018

Postby SSridhar » 21 Dec 2018 09:22

Scientists, managers told of Pak. designs: Rajnath - The Hindu
Home Minister Rajnath Singh said on Wednesday that top scientists and senior managers in critical sectors like atomic, space, defence, power, oil and gas were sensitised to threats as “economic installations and iconic institutions” are being continuously targeted by Pakistani intelligence operatives from across the western border through espionage and cyberspace.

Mr. Singh asked government officials to be cautious in their dealings with officials from foreign missions.


The Minister, who addressed the inaugural session of the Conference of Directors-General and Inspectors-General of Police organised by the Intelligence Bureau (IB), said till November 29 this year, 17 espionage modules backed by Pakistan’s Inter-Services Intelligence (ISI) were neutralised and 25 espionage agents, including two Pakistanis, were arrested.

He said law enforcement agencies have been able to overcome the first tide of propaganda and mobilisation by the Islamic State in Iraq and Syria (ISIS). The new phase of IS propaganda emanating from the Afghanistan-Pakistan region was also being countered.

Mr. Singh said Pakistan was trying to revive terrorism in Punjab with the “active support of other Sikh radical/extremist entities based abroad, especially Europe and America.”

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Re: Terroristan - October 8, 2018

Postby ArjunPandit » 21 Dec 2018 15:45

^^they should have the fishing or social engineering test/trainings? Like in all my organizations there are test mails by IT deptmt offering what not, just short of emails from nigerian princes offering me 1million in my bank account. Those who fail the test have to take the full training. In this case special trips/visits to police stations can be arranged as an added benefit.

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Terroristan - October 8, 2018

Postby Peregrine » 21 Dec 2018 17:53

In debt growth, PTI to surpass PML-N in three years - Shahbaz Rana

ISLAMABAD: The Pakistan Tehreek-e-Insaf (PTI) led government is projected to add over Rs10 trillion in public debt during its first almost three years, due to rigidity in expenditures, increase in interest rates and currency devaluation. This debt will be equal to the total debt added by the last Pakistan Muslim League-Nawaz (PML-N) in its five years term.

The foreign commercial borrowings from Chinese, European and Gulf banks and through floatation of sovereign bonds will also be the preferred tools for the PTI government to raise loans for meeting the budgetary and balance of payments requirements, sources in the Finance Ministry said.

Pakistan has shared these public debt projections with the International Monetary Fund (IMF), suggesting that the public debt could be Rs36 trillion by June 2021. These projections are exclusive of publicly guaranteed debt and private debt.
In terms of size of the economy, the debt to the GDP ratio would remain closer to 70% by June 2021, which will be lower than the level left by the PML-N but far higher than the path set in the Fiscal Responsibility and Debt Limitation Act of 2005.

When the PML-N government completed its 2013-18 term, the public debt was Rs24.95 trillion, according to the State Bank of Pakistan (SBP).

Prime Minister Imran Khan has been very critical of the economic policies followed by the Pakistan Peoples Party (PPP) and the PML-N governments. During the PPP’s 2008-2013 tenure, the public debt surged from Rs6 trillion to Rs14 trillion. During the next five years, it hit the Rs25 trillion mark.

There was an increase of roughly Rs1 trillion from July through September of this fiscal year. Even after first quarter discount, there will be an addition of Rs10 trillion in a span of 33 months in the public debt that would swell to Rs36 trillion, the sources said.

The debt projections have been made for the period of 2019 to 2021, for the period when Pakistan may be under the IMF programme if both sides mend their differences on the pace of fiscal, monetary and exchange rate adjustments.

The sources said by June 2019, the public debt could hit Rs29.4 trillion, equal to 75% of GDP. It was 72.5% at the end of the PML-N term, far above the statutory limit of 60% of GDP.

The key reason for likely increase in public debt by June 2019 will be a minimum of Rs2.2 trillion budget deficit caused by growing debt and defence expenditures and low tax revenues.

The interest payments that were Rs1.5 trillion in June 2018 could increase to Rs2 trillion by June next year due to increase in discount rate by the SBP and currency devaluation of over 20% in full fiscal year.

The sources said during the second year of the PTI government, the public debt would further jump to Rs32.6 trillion. There is projected addition of Rs3.2 trillion in public debt from July 2019 to June 2020. The assessment is based on Rs2.4 trillion budget deficit and nearly 6% further devaluation of the rupee.

In the fiscal year 2019-20, the interest payments have been projected to increase to Rs2.7 trillion and the defence budget is estimated at Rs1.27 trillion. Similarly in the third year, the public debt could increase by another Rs3.3 trillion to Rs36 trillion. In that year, the budget deficit is estimated at Rs2.5 trillion. The interest payments would shoot to Rs3.2 trillion and defence budget to Rs1.5 trillion. This should not be a worry as with the US Dollar Rate to the Terroristani Rupee will be Rs. 150. It will be a good Idea to Devalue the Terroristani Rupee to 200 to the US Dollar so that its Defence Budget in Dollar Terms will be ONLY US$ 7.5 BILLION!

In a span of three years, the debt servicing cost would double, thanks to interest rate hikes and currency devaluation. The gloomy debt scenario indicates the grave problems that Pakistan’s economy faces due to its low tax revenues and low exports.

In a meeting of the Senate Standing Committee on Finance on Wednesday, the Finance Minister Asad Umar said increasing exports is ‘economic jihad’ in Pakistan and his government is committed to do that.

The worrisome trends also expose the vulnerabilities in shape of growing refinancing risks. The Average time-to-maturity of the public debt has already come down to three years and six months.

During the past one year, the Finance Ministry’s contingent liabilities also increased significantly, which showed deterioration in public sector enterprises and more borrowings by the state-owned companies for various purposes. By June 2018, the last government’s contingent liabilities stood at Rs1.236 trillion.

The sources said Pakistan has assured the IMF that it will reduce reliance on the central bank borrowings. It has also committed to fully book the contingent liabilities aimed at reducing the debt related risks.

The Debt Policy Coordination Office that is currently working without full time director general is promised to be strengthened. But the sources said the government’s reliance on foreign commercial borrowings would continue until situation on the external front improves.

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Terroristan - October 8, 2018

Postby Peregrine » 21 Dec 2018 20:42

S&P BSE SENSEX

Index Current : 35,742.07 - Pt. Change : -689.60 - % Change : -1.89

Market Capitalization of BSE Listed Co. (Rs.Cr.) : 1,43,30,309.04 - $ 1/ 70.1900*

Market Capitalization of BSE Listed Co. (U S $.) : 2041.64

Index Current : 38251.04 - Pt. Change : + 14.52 - % Change : + 0.04%

Market Capitalization of PSE Listed Co. (Tr. Rs..) : 7,780,850,656,678 - $ 1/ 140.40*

Market Capitalization of PSE Listed Co. (U S $...) : 55.42 Billion

B S E : P S E : : 36.84 : 1

* : Congratulations are in Order for Terroristan that for Every U S Dollar it Presents it gets Twice the Number of Terroristani Rupees as the Number of Indian Rupees the Indians Get for One United States Dollar!

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Terroristan - October 8, 2018

Postby Peregrine » 22 Dec 2018 02:13

Image

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Re: Terroristan - October 8, 2018

Postby kancha » 22 Dec 2018 12:41

Crypto Bible @Karachi_Post

Hearing that 2 to 3 retired generals living in the West are in contact with Western intelligence agencies and are willing to become international witnesses in OBL and Mumbai attack case #Pakistan

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Terroristan - October 8, 2018

Postby Peregrine » 22 Dec 2018 17:37

X Posted on the Analyzing CPEC Thread

ADB says it is financing CPEC projects
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Bank says it is already financing three projects in Pakistan that are under the umbrella of both CPEC and CAREC.

The Asian Development Bank (ADB), while responding to a news story titled “ADB says it will not finance CPEC projects” published in The Express Tribune, has said that it is already financing three projects in Pakistan that are under the umbrella of both CPEC and the Central Asia Regional Economic Cooperation (CAREC) programmes. “Indeed, the ADB is in a good position to support Pakistan’s industrialisation under CPEC, CAREC programme and other regional initiatives,” it says. The bank says it is introducing ADB Strategy 2030 and has already financed three highway projects, all of which are part of CPEC and CAREC corridors.

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Re: Terroristan - October 8, 2018

Postby anupmisra » 22 Dec 2018 22:21

These are fighting words.

Foreign policy should be decided by parliament, not Rawalpindi: Rabbani

Former Senate chairman Raza Rabbani on Friday criticised the incumbent set-up and said the country’s foreign policy should be “decided by the Parliament and not Rawalpindi”.
Rabbani lamented that every institution was trying to enter another institution’s jurisdiction, in blatant disregard for the powers granted to institutions by constitution.
“Parliament is the mother of all state institutions”
All institutions are answerable to parliament, [but] the Parliament is being made dysfunctional
He demanded that a national security committee of parliament be formed immediately. “We are not here to inquire about the weather. We are here to make policies.”
“Accountability is not only for politicians,” Rabbani remarked, adding that there should also be accountability for the judiciary, military, bureaucracy and executives.


Famous last words.

https://dailytimes.com.pk/336133/foreig ... i-rabbani/

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Terroristan - October 8, 2018

Postby Peregrine » 22 Dec 2018 23:15

Subversive phase of hybrid war initiated against Pakistan, says army chief - Our Correspondent

KARACHI : Chief of the Army Staff General Qamar – The Waist - Javed Bawja cautioned on Saturday that the subversive phase of the unannounced war against Pakistan has been initiated by the country’s enemies even as efforts are made to tackle the terrorism and sabotage phase.

Reiterating the armed forces’ resolve to maintain peace in the country, the army chief regretted that the youth of the nation is being targetted by a hybrid campaign – at times by protagonists who are “our own people”.

“Mostly misguided by ambitions, blinded by hate, ethnicity or religion or simply overawed by social media onslaught, some of our own boys and girls readily fall victim to such dangerous or hostile narratives,” the Inter-Services Public Relations (ISPR) quoted General Qamar as saying at the passing out parade of the 110th Midshipmen and 19th Short Service Course held at Naval Academy in Karachi.

Referring to hybrid warfare, the army chief said information and modern technology has changed the nature of warfare now being waged and has tilted the balance in favour of those nations that have embraced the change readily. Of course India has all these - and more - available to use against Terroristan!

“But frankly speaking, even that will not be sufficient as the ever-increasing threat of hybrid war, to which we are subjected to, will need a totally new approach and change of traditional mindset.”

Advising future military leaders to prepare themselves for the threats they will face, Gen Qamar added that they should be able to gauge the enemy’s latest moves and be ready to respond even when a ‘surgical strike’ exists only in the enemy’s imagination or when threats appear in cyberspace and not the traditional battlefield or threaten the “country’s ideological frontiers”.

“The response to such onslaughts or threats cannot always be kinetic in nature,” said the army chief, adding that a superior narrative needs to be propagated to deal with attacks in the cognitive domain. Qamar - the waist - Buj Bahadur is using BIG-BIG WORDS!

Police Training: Passing-out parade held

On the occasion, the army chief also reiterated that Pakistan is trying hard to achieve lasting peace in Afghanistan and lauded the government’s efforts of achieving peace between Pakistan and India. The Waist means that he has Imran Can't eating out of Qamar the Waist's hands!

Addressing the new officers, the army chief said “your behaviour must be exemplary at all times” as one lapse may lead to embarrassment for the whole unit. Therefore, he cautioned cadets “to be mindful on social media”.

Pak Army known for delivering best results in challenging times: Gen Hayat

Speaking on leadership, he said that the “armed forces are meant to lead”. “You will be required to lead your troops into the battlefield with full zeal and confidence,” he said, adding that their values shall be echoed by those who follow.

He lauded the sacrifices of the armed forces and law-enforcement agencies (LEAs) for “paying the ultimate price with their blood” in order to restore peace and order.

The army chief was invited as the chief guest at the passing out parade. Chief of the Naval Staff (CNS) Admiral Zafar Mahmood Abbasi and former naval chiefs also attended the ceremony. A large number of serving and retired officers and families of passing-out officers were also present on the occasion.

Army determined to maintain stability achieved by counter-terror operations

Gen Qamar reviewed the parade and gave away prizes to distinguished performers. He felicitated the young officers for their achievements and commended female cadets for their participation. “It signifies their resolve to excel and compete with men in almost every field,” he said.

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Terroristan - October 8, 2018

Postby Peregrine » 23 Dec 2018 04:05

Six terrorists linked to al-Qaida killed - M Saleem Pandit - TNN

SRINAGAR: Six terrorists of the Zakir Musaled Ansar Ghazwat-ul-Hind outfit, including its deputy chief, were killed in a brief encounter in Tral area of Awantipora in south Kashmir's Pulwama district on Saturday morning. Ansar Ghazwat-ul-ld is the Kashmir wing of al-Qaida.

The encounter began after a joint team of 42 Rashtriya Rifles, Special Operations Group and CRPF launched a cordon-and-search operation after receiving intelligence inputs about the presence of terrorists at Arampora hamlet, said S P Pani, IG-Kashmir range. The security forces fired a few warning shots, to which the terrorists retaliated, triggering a gunfight.

Security forces recovered the bodies and a huge cache of arms and ammunition from the site.

“The deputy chief was identified as Soliha Mohammad Akhoon, alias Rehaan Khan, while the others as Rasiq Mir, Umer Ramzan, Nadeem Sofi, Faisal Javid Khanday and Rouf Mir,” the IG said, adding that they were linked to Zakir Musa, a former Hizbul Mujahideen leader who founded the Kashmir chapter of al-Qaida. All of them were active in Pulwama and wanted in several terror cases, including attacks on security personnel and civilians.

Two of the six terrorists killed were wanted for triggering hand-grenade blasts at the Maqsudan police station in Jalandhar on September 14, Punjab police said.

Jalandhar police commissioner Gurpreet Bhullar said the case was solved with the arrest of two college students, identified as Shahid Qayoom (22) and Fazil Bashir (23), both associated with Ansar Ghazwat-ul-Hind. Besides these two, Rouf Mir and Umer Ramzan, killed in Saturday’s encounter, were also involved in the blast, he added. Bhullar said Umer and Rouf had flown from Srinagar to Chandigarh on September 13 with the sole purpose of carrying out the attacks. Thereafter, they had been on the run.

Soon after the killing of the terrorists, clashes between security forces and civilians broke out in Armpora Tral area of Pulwama. The protestors shouted pro-azadi slogans but were dispersed with tear gas.

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Terroristan - October 8, 2018

Postby Peregrine » 23 Dec 2018 04:43

Pakistan denies gas supply to India's residential complex in Islamabad - Sachin Parashar

NEW DELHI: India and Pakistan are yet again faced with diplomatic harassment that marred ties between the two countries earlier this year. While Pakistan has denied gas to the newly constructed Indian residential complex in , the Indian government earlier this month denied permission to Pakistan high commissioner Sohail Mahmood to visit Kolkata.

Both sides were quiet on why Mahmood was prevented from visiting but, as official sources said, Pakistan had been late in seeking approval for the visit. Both Indian and Pakistan high commissioners are required to seek approval from local authorities for any visit outside the capital.

This development came around the time Indian officials were raising with Pakistan the issue of delay in supply of gas to India's newly constructed residential complex in Islamabad. Sources said that the issue had been repeatedly raised for over a month both here with the Pakistan high commission and with MoFA in Islamabad.

"Several note verbale have been issued but to no avail,'' said an official source. The complex was at the centre of the dispute between India and Pakistan over harassment of diplomats in both capitals. A group of men was said to have raided the complex under construction then and disconnected water and electricity supply triggering diplomatic hostility which lasted for over a month.

The complex is now home to several Indian diplomats and other staff. According to sources here, the supply of gas has not started, despite pipelines having been laid, because the same is yet to be approved by Pakistan government authorities including MoFA. The cold weather has made it worse for residents of the complex as gas is required for activating the heating system.

The government has also raised with Pakistan the issue of abrupt blackouts in the homes of Indian diplomats. While these have not lasted very long, the power disruption has apparently taken place in the middle of formal receptions. In one instance recently, which was brought to Pakistan's attention, an unidentified man tried to break open into the home of an Indian diplomat when he was not at home.

India has in the past accused Pakistan of blocking Indian government websites inconveniencing, among others, Pakistan nationals looking to apply for Indian visa.

According to Indian officials, these websites are still not working properly in Pakistan and the issue has been taken up with Islamabad

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Re: Terroristan - October 8, 2018

Postby anupmisra » 23 Dec 2018 07:38

And now this.

Man demanding to be made prime minister climbs mobile tower in Islamabad, threatens suicide

The man not only called for the authorities to make him the premier but also proposed that if they do so, he would ensure Pakistan's debts are paid off within the next six months.
The situation escalated when the man, who was waving the Pakistan flag as he put forth his demands, threatened to jump off if he was not made the prime minister immediately.
...the district administration ...approached mimicry artist Shafaat Ali to help defuse the matter.
A mobile phone was then handed over to the man under the pretense that he would be speaking to Prime Minister Imran Khan.
Shafaat Ali reportedly pulled off a convincing impression of the prime minister and was able to talk the troubled man into getting down from the tower.


Pakhanistan has a new herrow! All hail shafaat ali.

https://www.dawn.com/news/1453004/man-d ... ns-suicide

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Re: Terroristan - October 8, 2018

Postby arun » 23 Dec 2018 11:17

Kashmir dispute 'not a bilateral issue' between Pakistan and India, PM tells UN chief

Eloquence of Imran Khan Niazi, PM of the Mohammadden Terrorism Fomenting Islamic Republic of Pakistan, reported in the above Dawn article, appears to have left the UN Secretary General unimpressed going by the tepid response of the Secretary General’s Spokesperson :rotfl: :

21 DECEMBER 2018

Daily Press Briefing by the Office of the Spokesperson for the Secretary-General

The following is a near-verbatim transcript of today’s noon briefing by Stéphane Dujarric, Spokesman for the Secretary-General. ………………………

Question: Thank you, Stéphane. As you know, Prime Minister Imran Khan spoke to the Secretary-General yesterday and made some specific points with regard to the deteriorating situation in Kashmir, especially that it's an international dispute on the… and on the agenda of the Security Council and the responsibility of the United Nations to resolve it. Do you have any readout on the…?

Spokesman: Of course. I can confirm to you the phone call did happen, and it centred on the issue of Kashmir as brought up by the prime minister. I assume you want a follow‑up, on the other side of the line of the line control?

Question: [Inaudible] essentially saying that Pakistan should mind its own business, and Kashmir is an internal part of India. So your comments on this?

Spokesman: Our position on Kashmir has been reiterated. There is an observer group as mandated by the Security Council. The Prime Minister wanted to speak to the Secretary-General. It's only normal that the Secretary-General speak to Heads of Governments and Heads of State and, as I said, I can confirm that the call took place and that the Prime Minister raised the issue of Kashmir. Let's move to a different continent. If somebody could shut off whatever phone is ringing, that would be appreciated. Thank you.


From here:

Daily Press Briefing by the Office of the Spokesperson for the Secretary-General

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Re: Terroristan - October 8, 2018

Postby chetak » 23 Dec 2018 15:33

imran khan niazi is caught between a rock and a very hard place.

one the one side is the might of the cheeni state and on the other side is the might of the paki army, another rogue state, all by itself.

no namak, nishan or iman anywhere in sight.

wonder where bajwa is headed, after his tenure as army chief officially ends, extension or coup??

merely hanging up his boots after such tumultuous times would be rather tame.


China’s ‘Belt and Road’ plan in Pakistan takes a military turn


China’s ‘Belt and Road’ plan in Pakistan takes a military turn

New York Times, Dec 21, 2018,
By Maria Abi Habib
ISLAMABAD:

When President Donald Trump started the new
year by suspending billions of dollars of security aid to Pakistan,
one theory was that it would scare the Pakistani military into
cooperating better with its U.S. allies.

The reality was that Pakistan already had a replacement sponsor
lined up.

Just two weeks later, the Pakistani air force and Chinese officials
were putting the final touches on a secret proposal to expand
Pakistan’s building of Chinese military jets, weaponry and other
hardware. The confidential plan, reviewed by The New York
Times, would also deepen the cooperation between China and
Pakistan in space, a frontier the Pentagon recently said Beijing
was trying to militarize after decades of playing catch-up.
All those military projects were designated as part of China’s Belt
and Road Initiative a $1 trillion chain of infrastructure
China and Pakistan are putting the final touches on a
secret proposal to expand Pakistan's building of Chinese military equipment.
It has come to light that in the hindsight of the Belt and Road Initiative, China is fulfilling its military ambitions

Belt and Road Initiative, a $1 trillion chain of infrastructure
development programs stretching across some 70 countries, built
and financed by Beijing.

Chinese officials have repeatedly said the Belt and Road is purely
an economic project with peaceful intent. But with its plan for
Pakistan, China is for the first time explicitly tying a Belt and Road
proposal to its military ambitions — and confirming the concerns
of a host of nations who suspect the infrastructure initiative is
really about helping China project armed might.

As China’s strategically located and nuclear-armed neighbor,
Pakistan has been the leading example of how the Chinese
projects are being used to give Beijing both favor and leverage
among its clients.

Since the beginning of the Belt and Road Initiative in 2013,
Pakistan has been the program’s flagship site, with some $62
billion in projects planned in the so-called China-Pakistan
Economic Corridor. In the process, China has lent more and more
money to Pakistan at a time of economic desperation there,
binding the two countries ever closer.

For the most part, Pakistan has eagerly turned more toward
China as the chill with the United States has deepened. Some
Pakistani officials are growing concerned about losing sovereignty
to their deep-pocketed Asian ally, but the host of ways the two
countries are now bound together may leave Pakistan with little
choice but to go along.

Even before the revelation of the new Chinese-Pakistani military
cooperation, some of China’s biggest projects in Pakistan had
clear strategic implications.

A Chinese-built seaport and special economic zone in the
Pakistani town of Gwadar is rooted in trade, giving China a
quicker route to get goods to the Arabian Sea. But it also gives
Beijing a strategic card to play against India and the United States
if tensions worsen to the point of naval blockades as the two
powers increasingly confront each other at sea.

A less scrutinized component of Belt and Road is the central role
Pakistan plays in China’s Beidou satellite navigation system.
Pakistan is the only other country that has been granted access
to the system’s military service, allowing more precise guidance
for missiles, ships and aircraft.

The cooperation is meant to be a blueprint for Beidou’s expansion
to other Belt and Road nations, however, ostensibly ending its
clients’ reliance on the U.S. military-run GPS network that
Chinese officials fear is monitored and manipulated by the United
States.

In Pakistan, China has found an amenable ally with much to
recommend it: shared borders and a long history of cooperation;
a hedge in South Asia against India; a large market for arms
sales and trade with potential for growth; a wealth of natural
resources.

Now, China is also finding a better showcase for its security and
surveillance technology in a place once defined by its close
military relationship with the United States.

“The focus of Belt and Road is on roads and bridges and ports,
because those are the concrete construction projects that people
can easily see. But it’s the technologies of the future and
technologies of future security systems that could be the biggest
security threat in the Belt and Road project,” said Priscilla
Moriuchi, director of strategic threat development at Recorded
Future, a cyberthreat intelligence monitoring company based in
Massachusetts.

An Asset on the Sea

The tightening China-Pakistan security alliance has gained
momentum on a long road to the Arabian Sea.

In 2015, under Belt and Road, China took a nascent port in the
Pakistani coastal town of Gwadar and supercharged the project
with an estimated $800 million development plan that included a
large special economic zone for Chinese companies.

Linking the port to western China would be a new 2,000-mile
network of highways and rails through the most forbidding stretch
of Pakistan: Baluchistan province, a resource-rich region plagued
by militancy.

The public vision for the project was that it would allow Chinese
goods to bypass much longer and more expensive shipping
routes through the Indian Ocean and avoid the territorial waters of
several U.S. allies in Asia.

From the beginning, though, key details of the project were kept
from the public and lawmakers, officials say, including the terms
of its loan structure and the length of the lease, more than 40
years, that a Chinese state-owned company secured to operate
the port.

If there was concern within Pakistan about the hidden costs of the
China-Pakistan Economic Corridor, also known as CPEC, there
was growing suspicion abroad about a hidden military aspect, as
well.

In recent years, Chinese state-owned companies have built or
begun constructing seaports at strategic spots around the Indian
Ocean, including places in Sri Lanka, Bangladesh and Malaysia.
Chinese officials insisted that the ports would not be militarized.
But analysts began wondering whether China’s endgame was to
muscle its way onto coastal territories that could become prime
military assets — much as it did when it started militarizing
contested islands in the South China Sea.

Then, Sri Lanka, unable to repay its ballooning debt with China,
handed over the Chinese-built port at Hambantota in a 99-year
lease agreement last year. Indian and American officials
expressed a growing conviction that taking control of the port had
been China’s intent all along.

In October, Vice President Mike Pence said Sri Lanka was a
warning for all Belt and Road countries that China was luring
them into debt traps.

“China uses so-called debt diplomacy to expand its influence,”
Pence said in a speech.

“Just ask Sri Lanka, which took on massive debt to let Chinese
state companies build a port of questionable commercial value,”
Pence added. “It may soon become a forward military base for
China’s growing blue-water navy.”

Military analysts predict that China could use Gwadar to expand
the naval footprint of its attack submarines, after agreeing in 2015
to sell eight submarines to Pakistan in a deal worth up to $6
billion. China could use the equipment it sells to the South Asian
country to refuel its own submarines, extending its navy’s global
reach.

Deepening Debt

When China inaugurated Belt and Road, in 2013, Prime Minister
Nawaz Sharif’s new government in Pakistan saw it as the answer
for a host of problems.

Foreign investment in Pakistan was scant, driven away by
terrorist attacks and the country’s enduring reputation for
corruption. And Pakistan desperately needed a modern power
grid to help ease persistent electricity shortages.

Pakistani officials say that Beijing first proposed the highway from
China’s western Xinjiang region through Pakistan that connected
to Gwadar port. But Pakistani officials insisted that new coal
power plants be built. China agreed.

With CPEC under fresh scrutiny, Chinese and Pakistani officials in
recent weeks have contended that Pakistan has a debt problem,
but not a Chinese debt problem. In October, the country’s central
bank revealed an overall debt and liability burden of about $215
billion, with $95 billion externally held. With nearly half of CPEC’s
projects completed — in terms of worth — Pakistan currently
owes China $23 billion.

But the country stands to owe $62 billion to China — before
interest balloons the figure to some $90 billion — under the plan
for Belt and Road’s expansion there in coming years.
Pakistan’s central bank governor, Ashraf Wathra, said publicly in
2015 that he had no clarity on Chinese investments in Pakistan
and was concerned about rising debt levels . It still took him
months after that to secure a briefing from Cabinet officials.
“My main question was, ‘Do we have any feasibility studies of
these projects and a cost-benefit analysis?’ Their answers were
all evasive,” recalled Wathra, who has since retired.

Ahsan Iqbal, a Cabinet minister and the main architect for CPEC
in the previous government, said the project was well thoughtthrough
and dismissed Wathra’s account.

“No one wanted to invest here — the Chinese took a chance,”
Iqbal said in an interview.

But the bill is coming due. Pakistan’s first debt repayments to
China are set for next year, starting at about $300 million and
gradually increasing to reach about $3.2 billion by 2026,
according to officials. And Pakistan is already having trouble
paying what it owes to Chinese companies.

Fighter Jets and Satellites

According to the undisclosed proposal drawn up by the Pakistani
air force and Chinese officials at the start of the year, a special
economic zone under CPEC would be created in Pakistan to
produce a new generation of fighter jets. For the first time,
navigation systems, radar systems and onboard weapons would
be built jointly by the countries at factories in Pakistan.

The proposal, confirmed by officials at the Ministry of Planning
and Development, would expand China and Pakistan’s current
cooperation on the JF-17 fighter jet, which is assembled at
Pakistan’s military-run Kamra Aeronautical Complex in Punjab
province. The Chinese-designed jets have given Pakistan an
alternative to the U.S.-built F-16 fighters.

The plans are in the final stages of approval, but the current
government is expected to rubber-stamp the project, officials in
Islamabad say.

For China, Pakistan could become a showcase for other countries
seeking to shift their militaries away from U.S. equipment and
toward Chinese arms, Western diplomats said. And because
China is not averse to selling such advanced weaponry as
ballistic missiles — which the United States will not sell to allies
like Saudi Arabia — the deal with Pakistan could be a
steppingstone to a bigger market for Chinese weapons in the
Muslim world.

For years, some of the most important military coordination
between China and Pakistan has been going on in space.
Just months before Beijing unveiled the Belt and Road project in
2013, it signed an agreement with Pakistan to build a network of
satellite stations inside the South Asian country to establish the
Beidou Navigation System as an alternative to the American GPS
network.

Beidou quickly became a core component of Belt and Road, with
the Chinese government calling the satellite network part of an
“information Silk Road” in a 2015 white paper.

Like GPS, Beidou has a civilian function and a military one. If its
trial with Pakistan goes well, Beijing could offer Beidou’s military
service to other countries, creating a bloc of nations whose
military actions would be more difficult for the United States to
monitor.

By 2020, all 35 satellites for the system will be launched in
collaboration with other Belt and Road countries, completing
Beidou.

“Beidou, whatever any users use it for — whether it’s a civilian
navigating their way to the grocery store or a government using it
to coordinate their rocket launches — those are all things that
China can track,” said Moriuchi, of the research group Recorded
Future. “And that’s what is most striking: that this authoritarian
government will be a major technology provider for numerous
countries in Asia, Africa and Europe.”

For the Pentagon, China’s satellite launches are ominous.
“The PLA continues to strengthen its military space capabilities
despite its public stance against the militarization of space,”
including developing Beidou and new weaponry, according to a
Pentagon report issued to Congress in May, using a common
abbreviation for China’s military.

In October, Pakistan’s information minister, Fawad Chaudhry, said
that by 2022, Pakistan would send its own astronaut into space
with China’s help.

“We are close to China, and we are getting more close,” he said
in a later interview. “It’s time for the West to wake up and
recognize our importance.”

Wooing Pakistan’s Military

Though the relationship between China and Pakistan has clearly
grown closer, it has not been without tension. CPEC could still be
vulnerable to political shifts in Pakistan — as happened this year
in Malaysia, which shelved three big projects by Chinese
companies.

Campaigning during the parliamentary elections that made him
prime minister in July, Imran Khan vowed to review CPEC
projects and renegotiate them if he won. In September, after
meeting in Saudi Arabia with the crown prince, Khan said that the
kingdom had agreed to invest in CPEC, too.
Pakistan’s new commerce minister then proposed pausing all
CPEC projects while the government


The moves by Pakistan’s new government angered Beijing, which
was concerned they could set back Belt and Road globally.
But in Pakistan, China has a steady ally it can approach to
smooth things over: the country’s powerful military establishment,
which stands to fill its coffers with millions of dollars through
CPEC as the military’s construction companies win infrastructure
bids.

Shortly after the commerce minister’s comments, the Pakistani
army’s top commander, Gen. Qamar Javed Bajwa, hurried to
Beijing for an unannounced visit with President Xi Jinping. The
meeting came six weeks before Khan made his first official visit
with the Chinese president.

Statements from the military said Bajwa and Xi spoke extensively
about Belt and Road projects, though economic talks are usually
the purview of civilian officials.

Bajwa “said that the Belt and Road initiative with CPEC as its
flagship is destined to succeed despite all odds, and Pakistan’s
Army shall ensure security of CPEC at all costs,” read a
statement from the Pakistani military.

Shortly after the Beijing meeting, Pakistan’s government rolled
back its invitation to Saudi Arabia to join CPEC, and all talk of
pausing or canceling Chinese projects has stopped.

But China could face another challenge to its investments: a
Pakistani financial crisis that has forced Khan’s government to
seek loans from international lenders that require transparency.
Throughout September, international delegations traveled to
Islamabad carrying the same message: Reveal the extent of
Chinese loans if you want financial assistance.

In a late September meeting with visiting officials from the
International Monetary Fund, Pakistan’s government asked for a
bailout of up to $12 billion. The fund’s representatives pressed
Pakistan to share all existing agreements with the Chinese
government and demanded IMF input during any future CPEC
negotiations. The fund also sought assurances that Pakistan
would not use a bailout to repay CPEC loans.

But the Chinese Embassy in Islamabad stepped up its
engagement as well, demanding that CPEC deals be kept secret
and promising to shore up Pakistan’s finances with bilateral loans,
Pakistani officials say.

Three months after taking office, Khan still has not made good on
his campaign promises to reveal the nature of the $62 billion
investment Beijing has committed to Pakistan, and his
government has backtracked on an IMF deal.

In early November, Khan visited Xi in Beijing, a trip during which
he was expected to clinch bilateral loans and grants to ease Pakistans financial crisis. Instead, his government walked away with vague promises of a deal “in principle,” but refused to disclose any details.

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Terroristan - October 8, 2018

Postby Peregrine » 23 Dec 2018 17:17

PTI minister shares property tax bills of NY flat allegedly owned by Zardari

Minister for Maritime Affairs Ali Zaidi on Saturday shared property tax statements of what the ruling PTI claims is a flat in New York owned but not declared by PPP co-chairperson Asif Ali Zardari.

Zaidi, whose party is seeking Zardari's disqualification from the parliament for concealment of assets, shared on Twitter the property tax statements of an apartment in the Manhattan borough of New York City. The documents shared bear the name "Asif A. Zardari".

Earlier this week, the PTI had filed an application with the Election Commission of Pakistan (ECP) in Karachi, seeking the disqualification of PPP co-chairperson Asif Ali Zardari for concealing his assets.

According to the application filed by PTI Sindh MPA Khurram Sherzaman with the Provincial Election Commissioner, Zardari had failed to declare the apartment he allegedly owns in the US in his nomination form for the 2018 general elections.

The PPP leader is a member of the National Assem­bly from NA-213, Shaheed Benazirabad, Sindh.

A document submitted with the application and obtained by Dawn shows an individual named Asif Ali Zardari as having an address at 524 East 72nd Street, New York, New York. A second document purports to show that one Ms Mehreen Shah was granted the power of attorney for the condo unit by the owner of the property.

The veracity of the documents could not be independently confirmed.

Although Provincial Election Commissioner Muhammad Yousaf Khan Khattak reluctantly accepted the application filed by Sherzaman, he informed the PTI MPA that any action on the petition would be taken by the ECP's Islamabad headquarters.

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Terroristan - October 8, 2018

Postby Peregrine » 23 Dec 2018 18:36

X Posted on the Analyzing CPEC Thread

China denies any military deal under CPEC – Agencies

BEIJING: China on Saturday outright rejected reports that Beijing had struck a deal with Islamabad on military facilities, including building fighter jets, under the China-Pakistan Economic Corridor (CPEC), stressing that the mega project comprises mainly industrial parks and facilities to improve people’s livelihood.

At a daily briefing, Foreign Ministry spokesperson Hua Chunying said Afghanistan is China’s close neighbour, and China would continue to contribute to promoting peace and reconciliation process and help stability in the war torn country.

“According to my information, it is a false report,” Hua said in response to a question that China and Pakistan reportedly reached new deals under CPEC on military facilities, including building fighter jets.

The spokesperson told reporters that CPEC is an important cooperation framework set up by China and Pakistan for long-term bilateral cooperation in all aspects. She added that the corridor committee held the eighth meeting in Beijing on December 20.

“Going forward, we will consult with Pakistan to continue to implement the two leaders’ consensuses, reap the early harvest projects, and step up cooperation projects mainly in industrial parks and facilities improving people’s livelihood,” she said.

Commenting on the planned US withdrawal of troops from Afghanistan, she said China upholds “Afghan-led, Afghan-owned” inclusive reconciliation process. “We would like to … help resuming a peaceful, stable and safe situation for Afghan people,” added.

However, when asked about the resignation of US defence secretary, reportedly due to his differences with President Donald Trump over plans to withdraw troops from Afghanistan and Syria, she did not offer any comments. “It is the internal affairs of the US, and is decided by the US president.”

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Terroristan - October 8, 2018

Postby Peregrine » 23 Dec 2018 19:56

Nuclear-capable Agni-IV missile successfully test-fired – PTI

BALASORE (Odisha) : India on Sunday successfully test-fired its nuclear-capable long-range ballistic missile Agni-IV, with a strike range of 4,000 km, as part of a user trial by the Army.

The strategic surface-to-surface missile was flight tested from launch complex-4 of the Integrated Test Range (ITR) at Dr Abul Kalam Island, earlier known as Wheeler Island, at about 8.35 am, defence sources said.

Describing the trial as a "complete success", they said all mission objectives were met during the test-fire. All radars, tracking systems and range stations tracked and monitored the flight performance of the missile, which was launched with support of a mobile launcher.

Radars and electro-optical systems had been positioned along the coast of Odisha for tracking and monitoring all parameters of the missile, the sources said, adding two naval ships were anchored near the target area to witness the final event.

This was the 7th trial of Agni-IV missile. The last trial conducted by the strategic force command (SFC) of the Indian Army from the same base on January 2, 2018 was successful.

The indigenously developed sophisticated Agni-IV having 4,000 km strike range is a two-stage missile. It is 20 meter long with aweight of 17 tonnes, they said.

"The state-of-the-art missile is equipped with modern and compact avionics to provide high ;evel of reliability and precision," Defence Research and Development Organisation (DRDO) sources said.

Agni-IV missile is equipped with advanced Avionics, 5th generation On Board Computer and distributed architecture. It has the latest features to correct and guide itself for in -flight disturbances, they said.

The accurate Ring Laser Gyro-based Inertial Navigation System (RINS), supported by highly reliable redundant Micro Navigation System (MINGS), ensures the vehicle reaches the target with accuracy.

The re-entry heat shield can withstand temperatures in the range of 4000 degrees centigrade and makes sure avionics function normally with inside temperature remaining less than 50 degrees centigrade.

Ballistic missiles like Agni-I, II and III and Prithvi have been included in the arsenal of the armed forces, giving India an effective deterrence capability.

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Re: Terroristan - October 8, 2018

Postby kancha » 24 Dec 2018 08:22

Qureshi asks IMF to now show flexibility

Talking to the media men here, he added that after announcement of financial support from brotherly countries, the IMF should show flexibility. He said that it was PTI government’s policies that the strain in relations with the UAE ended and it had announced three-billion-dollar aid package. He added that Saudi Arabia had already announced an aid and oil package worth $12 billion for Pakistan.

He claimed that the results of China and Malaysia visits would soon be before the nation. He said that the PTI government found itself stuck in a quagmire of financial issues right after coming into power but it did not want to put any burden on the people.


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Re: Terroristan - October 8, 2018

Postby Peregrine » 24 Dec 2018 17:07

kancha wrote:Qureshi asks IMF to now show flexibility
Talking to the media men here, he added that after announcement of financial support from brotherly countries, the IMF should show flexibility. He said that it was PTI government’s policies that the strain in relations with the UAE ended and it had announced three-billion-dollar aid package. He added that Saudi Arabia had already announced an aid and oil package worth $12 billion for Pakistan.
He claimed that the results of China and Malaysia visits would soon be before the nation. He said that the PTI government found itself stuck in a quagmire of financial issues right after coming into power but it did not want to put any burden on the people.
kancha Ji :
It is quote possible that the Saudi and UAE have stipulated that their Monies are not to be used for servicing the Chinese Debt - be it CPEC, OBOR or otherwise - which the Terroristan Government are complying!

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Terroristan - October 8, 2018

Postby Peregrine » 24 Dec 2018 17:19

Nawaz sentenced to 7 years in jail in Al-Azizia reference, arrested from courtroom
ISLAMABAD: Deposed prime minister Nawaz Sharif was arrested from the courtroom after he was found guilty in the Al-Azizia corruption reference and was sentenced to seven years in prison.
Moral of the Story : If you value your Freedom the OBEY THE DICTATES OF THE ARMY CHIEF - in this case General “The Waist” Buj Bahadur – and don’t get Friendly with India!

This is a Five Page Article so not posted in "Full".

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Re: Terroristan - October 8, 2018

Postby Vips » 24 Dec 2018 19:40

Peregrine wrote:
kancha Ji :
It is quote possible that the Saudi and UAE have stipulated that their Monies are not to be used for servicing the Chinese Debt - be it CPEC, OBOR or otherwise - which the Terroristan Government are complying!

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In other words Saudi/UAE are financing the items of day to day consumption/interest payment of old loans and are both charging 3.18% interest per annum to the pakis which is more then what IMF would have charged. :rotfl:

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Re: Terroristan - October 8, 2018

Postby chetak » 24 Dec 2018 19:47

Vips wrote:
Peregrine wrote:kancha Ji :
It is quote possible that the Saudi and UAE have stipulated that their Monies are not to be used for servicing the Chinese Debt - be it CPEC, OBOR or otherwise - which the Terroristan Government are complying!

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In other words Saudi/UAE are financing the items of day to day consumption/interest payment of old loans and are both charging 3.18% interest per annum to the pakis which is more then what IMF would have charged. :rotfl:


Interest between ummah nations??

Isn't it against their book??

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Re: Terroristan - October 8, 2018

Postby Vips » 24 Dec 2018 19:58

The Paki practitioners of the book have also claimed that it allows taqiyya and lie if it is for the greater(own) good so now the saudis are following them :lol:

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Re: Terroristan - October 8, 2018

Postby ArjunPandit » 24 Dec 2018 22:58

....
self deleted..
Last edited by ArjunPandit on 25 Dec 2018 03:12, edited 1 time in total.

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Re: Terroristan - October 8, 2018

Postby ArjunPandit » 24 Dec 2018 22:59

Vips wrote:The Paki practitioners of the book have also claimed that it allows taqiyya and lie if it is for the greater(own) good so now the saudis are following them :lol:

For the first time i am seeing two negatives getting multiplied to a positive. Only forr pakis

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Terroristan - October 8, 2018

Postby Peregrine » 25 Dec 2018 01:40

As IMF talks sputter, govt seeks another route

UPDATED ABOUT 2 HOURS AGO

ISLAMABAD: The scale of the adjustment being demanded by the International Monetary Fund (IMF) “is too large” and accession to the programme is likely to be delayed, a senior official involved in the negotiations tells Dawn.

“Our talks with the IMF are not going well,” he says, adding: “The only option we have now is to do something on our own.”

Take a look: Differences remain over tough conditions of IMF bailout

Conversations with senior officials from the finance ministry, with direct knowledge of the Fund talks, paint a dismal picture of where the talks currently stand. “There is no chance that the adjustments as proposed by the Fund can be made,” one of them says. “The demands in their current shape are too steep to be implemented.”

This has put the government in a quandary, since an IMF programme is essential to unlock access to resources from other multilateral lenders like the World Bank and the Asian Development Bank, as well as from global financial markets.

In the meantime, the government has procured some breathing space through bilateral support from Saudi Arabia, and now a commitment from the Abu Dhabi Fund for Development of another $3 billion deposit “in the coming days”. In addition, the same sources tell Dawn, talks with China are near conclusion on another $2.2bn deposit with the State Bank, with the last meeting held on Dec 20, though these funds will be subject to certain conditions.

Also read: Why Pakistan will go to the IMF again, and again and again

But with the current account deficit running at more than $1bn per month, these inflows will buy little more than time. Officials at the finance ministry tell Dawn that these bilateral inflows can tide the country over for one year, at the very best. Eventually, an IMF programme becomes necessary no matter what, and the government is hoping that something can be done in the intervening period to bring about some flexibility in the Fund’s position.

Explore: Approaching the IMF

“It is possible that the IMF may come around, considering our position and will not let us collapse,” says one of the sources. “After some tough talk, I think they may come to a point to sign a basic agreement.”
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Re: Terroristan - October 8, 2018

Postby sanjaykumar » 25 Dec 2018 02:52

Heejras? What next churas and fags?

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Re: Terroristan - October 8, 2018

Postby ArjunPandit » 25 Dec 2018 03:13

^^self deleted..

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Terroristan - October 8, 2018

Postby Peregrine » 25 Dec 2018 04:54

Image

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Re: Terroristan - October 8, 2018

Postby venug » 25 Dec 2018 06:40

Meeting of Terrorist nations's Canadian CG hugging Khalistani leaders:
I don't know how we can fall for this and open Khartarpur corridor with our eyes wide open. This is $hit hitting fan from day one.

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Re: Terroristan - October 8, 2018

Postby SSridhar » 25 Dec 2018 09:19


KSA is giving USD 12B, UAE USD 6B (with 3B already deposited as cash), China has committed help (only that it didn't want Imran Khan to disclose it for fear that others would demand the same!), begging trips to Malaysia and Indonesia are in the works and are likely to yield something at least from Malaysia. Imran Khan may be thinking of a trip to Brunei also.

So, why are the Pakistanis hankering after IMF after this huge bailout already? How much money do they need?

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Re: Terroristan - October 8, 2018

Postby nandakumar » 25 Dec 2018 10:09

6B (Saudi) and 3B (UAE) is what I recall reading. Of this 3B from Saudi in the form of oil supply on credit is the only tangible BoP support. The rest is cash deposit to avoid immediate repayment triggers on foreign loans. The fundamental imbalance on their external sector is still very much in place. Only a massive contraction in the size of the economy 5 to 10% reduction in the GDP is the only way out for the present.

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Re: Terroristan - October 8, 2018

Postby SSridhar » 25 Dec 2018 13:20

nandakumar wrote:6B (Saudi) . . . is what I recall reading. . . .

Nandakumar, see this.

From the above,
Saudi Arabia has announced a US$12 package for Pakistan in three years.

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Terroristan - October 8, 2018

Postby Peregrine » 25 Dec 2018 17:11

SSridhar wrote: KSA is giving USD 12B, UAE USD 6B (with 3B already deposited as cash), China has committed help (only that it didn't want Imran Khan to disclose it for fear that others would demand the same!), begging trips to Malaysia and Indonesia are in the works and are likely to yield something at least from Malaysia. Imran Khan may be thinking of a trip to Brunei also.

So, why are the Pakistanis hankering after IMF after this huge bailout already? How much money do they need?
SSridhar Ji :

Could might possibly and most probably be that these amounts are to be "parked" and not "used - spent".

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nandakumar
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Re: Terroristan - October 8, 2018

Postby nandakumar » 25 Dec 2018 17:35

SSridhar
From the link mentioned by you, I don't get the impression that it is $3 plus 9 billion. The sense I get is that the deferred oil payments is a revolving facility that is restricted to $3 billion and will be in place for 3 year period.
I am open to correction. The following para is relevant.
"It was also agreed that a one year deferred payment facility for import of oil, up to US$3 billion, will be provided by Saudi Arabia. This arrangement will be in place for three years, which will be reviewed thereafter."

Peregrine
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Terroristan - October 8, 2018

Postby Peregrine » 25 Dec 2018 17:51

Pakistan receives only $1.7b in foreign loans - Shahbaz Rana

ISLAMABAD: In the absence of an International Monetary Fund (IMF) umbrella, foreign loan disbursements stood at only $1.7 billion in first five months of the current fiscal year that may undermine government’s efforts to take pressure off its foreign currency reserves. A O A!

The $1.72-billion loan disbursements from July through November were equal to only 18% of the original annual estimates, finance ministry officials told The Express Tribune on Monday.

The $2-billion loan that Pakistan got from Saudi Arabia to bolster the dwindling reserves is not part of these disbursements. The Saudi assistance has been shown on books of the central bank.

The official gross foreign currency reserves held by the State Bank of Pakistan (SBP) stood at $8 billion on the back of the Saudi loan that Pakistan has obtained at an interest rate of 3.18%.

The disbursements in the July-November period from international creditors were down $1 billion or 37%when compared with the loans received in the same period of previous fiscal year. From July through November 2017, Pakistan had received $2.7 billion in loans.

Last month, Pakistan received another short-term commercial loan facility of $50 million from a consortium led by Credit Suisse AG, taking its total contribution in five months to $270 million, according to the finance ministry officials.

In addition to that, Pakistan has already secured $160 million from Dubai Islamic Bank (DIB) and $20 million from Noor Bank, the UAE.

Foreign loans are not sufficient to meet Pakistan’s growing financing needs, which have now been revised downwards to $22 billion on hopes that the government would be able to curtail the current account deficit to $13 billion.

Despite growing need, foreign loans plunge 37% to $930m

A key reason for low disbursements is the delay in finalising a bailout programme with the IMF that has affected disbursements from the World Bank and the Asian Development Bank (ADB). The government has also dropped the plan of floating $3 billion worth of Eurobond, replacing it with commercial loans.

The finance ministry expected a boost in inflows in the next couple of months as modalities for Chinese commercial loans were being discussed, said the officials. Pakistan needed to raise another $4 billion in commercial loans in remaining months of the current fiscal year if it wanted to keep the official foreign currency reserves at the current level, said sources in the finance ministry.

They said a $3-billion injection by the United Arab Emirates (UAE) would provide breathing space for three months. Could someone PLEASE enlighten me as to What Terroristani Disease this INJECTION WILL CURE?

But the funding from Saudi Arabia and the UAE has to be backed by lending from multilateral creditors aimed at taking pressure off the foreign currency reserves.

Pakistan’s foreign borrowing surges to $10b in 11 months

In November, the external creditors disbursed just $260.4 million, including $50 million in commercial loans. Bilateral and multilateral lenders did not release funds for a majority of projects funded by them due to slow progress on these schemes.

China in November released another $120 million for China-Pakistan Economic Corridor (CPEC) projects, taking its contribution to $648.6 million in the past five months. The loans have been disbursed for the Sukkur-Multan motorway, Havelian-Thakot project of CPEC and Lahore Orange Line project.

The $648.6-million Chinese loans were equal to 38% of the total disbursements Pakistan received from July through November, according to the officials. The disbursements from China were higher than the total loans given by all the multilateral lenders.

The multilateral lenders provided $553 million or nearly one-third of the total loans. Commercial loans accounted for 26% of the total disbursements.

The country received $171.4 million from the ADB against $221 million in the same period of previous fiscal year. The World Bank disbursed just $88 million against $174 million last year.

The Islamic Development Bank disbursed $274 million in the first five months as part of oil facility compared with $672 million in the comparative period of previous fiscal year.

The World Bank and ADB are not signing budgetary support programmes due to lack of clarity on Pakistan’s macroeconomic framework.

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Re: Terroristan - October 8, 2018

Postby Rohit_K » 25 Dec 2018 22:49

Former MQM MNA Ali Raza Abidi killed in Karachi gun attack
https://www.thenews.com.pk/latest/41066 ... in-karachi
KARACHI: Former Muttahida Qaumi Movement (MQM) MNA Syed Ali Raza Abidi has been killed in a targeted attack in Karachi, Geo reported. The gun attack took place outside his residence at Khayaban-e-Ghazi. According to police, unknown gunmen opened fire on Abidi's vehicle and sped away.

SSP South told media that Abidi was shot in head and neck as soon as he got off his car outside his home. "It was premature to conclude whether the assailants were riding a bike or a car," he said. The former lawmaker was rushed to a nearby hospital, where he succumbed to his wounds during treatment. Police confirmed that Ali Raza Abidi passed away during treatment. Heavy continent of Rangers and police reached Mr Abidi's house.


Two PSP workers killed, two injured in Karachi drive-by shooting
https://www.geo.tv/latest/222950-psp-office-attack
KARACHI: A drive-by shooting resulted in four casualties Sunday night in the metropolis' Gulbahar locality when assailants on motorcycles opened fire on the Pak Sarzameen Party's (PSP) office. Two political workers died and two others were wounded as six unidentified suspects on three bikes shot at the PSP's local town office in Usmania Colony, highlighting that target-killing is once again on the rise after a brief period of peace.

The deceased — identified as Naeem and Azhar — succumbed to their injuries during medical treatment after they were rushed to Abbasi Shaheed Hospital. As news of the shooting spread, a heavy contingent of security personnel, including police and Rangers officials, reached the crime scene, and Mustafa Kamal, the party chairperson, arrived at the hospital.

Speaking to the media later, Kamal said: "The blood of these workers is on the hands of those who created the new MQM [Muttahida Qaumi Movement]." However, Dr Muhamamd Amin Yousufzai, the deputy inspector-general (DIG) of police for the West Zone, said it would be premature to make any comments about the suspects involved in the incident. It is noteworthy that two terrorists, who belonged to the Muttahida Qaumi Movement-London (MQM-L) and were arrested by Rangers, had confessed during questioning to planning an attack on Azhar, one of the two party workers who died in last night's attack.

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Terroristan - October 8, 2018

Postby Peregrine » 26 Dec 2018 04:10

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