Terroristan - October 8, 2018

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anupmisra
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Re: Terroristan - October 8, 2018

Postby anupmisra » 14 Nov 2018 19:20

Another paki seeking asylum?

Shahid Afridi’s lesson to PM Imran Khan: Pakistan doesn't need Kashmir; it can’t even handle its 4 provinces

London: Former Pakistan international cricketer Shahid Afridi, who has a penchant for wading into controversial topics, has given a lesson to Prime Minister Imran Khan on the Kashmir dispute. Speaking in London, the United Kingdom, at a press meet, Afridi said Pakistan should not be demanding Kashmir as it was not able to handle even the four provinces it has.
Pakistan doesn't need Kashmir; it is not able to even handle the four provinces it has”
Say Pakistan doesn't need Kashmir, don't give it to India as well, let Kashmir become a country.
It is not the first time that Afridi has commented on the Kashmir issue and also tried to provoke India.


Not just an idiot. A pakidiot. Now he must seek greener pastures elsewhere.

https://www.timesnownews.com/india/arti ... ber/313780

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Re: Terroristan - October 8, 2018

Postby anupmisra » 14 Nov 2018 19:41

And, the swift denial by pakidiot. Afridi now claims that it is the Indian media's saazish to malign him. Enjoy the back peddling.



Last edited by anupmisra on 14 Nov 2018 19:46, edited 1 time in total.

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Re: Terroristan - October 8, 2018

Postby anupmisra » 14 Nov 2018 19:43

Here's the pakidiot's original statement in londonistan. It is on record.


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Terroristan - October 8, 2018

Postby Peregrine » 14 Nov 2018 21:46

MSCI relocates Lucky Cement, UBL to small-cap indexes - Salman Siddiqui

KARACHI: In line with market expectation, MSCI Inc – a leading provider of research-based indexes and analytics globally – has relocated two leading Pakistani stocks; Lucky Cement and United Bank Limited (UBL), to its small-cap indexes from mid-cap indexes with effect from December 1, 2018.

However, it has unexpectedly removed Honda Atlas and Maple Leaf Cement from MSCI Global Small Cap Indexes, according to the Geneva-based firm’s November 2018 semi-annual equity indexes review results announced in wee hours (according to Pakistan time) on Wednesday.

Foreign investors having an estimated $1.4-1.7 trillion funds in hand, track the MSCI Emerging Market indexes to decide whether to invest or divest in the constituencies listed at stock markets around the globe.

“With this event, Pakistan’s weight in the MSCI EM is expected to fall to 0.037% from earlier 0.055% (as of October 23, 2018), as per our workings,” Topline Securities CEO Muhammad Sohail said in a post-results comment.

Market watch: Stocks remain choppy amid MSCI review concerns

Therefore, Oil and Gas Development Company (OGDC) remained the only Pakistani stock which continued to maintain its position among large cap stocks in MSCI Emerging Market Indexes.

After relocation of two Pakistani stocks to small-cap indexes, there are only two other Pakistani stocks left among mid-cap stocks namely; Habib Bank Limited and MCB Bank.

After two Pakistan specific additions to mid-cap indexes and two deletions, the number of Pakistani constituencies in the indexes remained unchanged at 22, including :

Bank Alfalah, DG Khan Cement, Engro Corporation, Engro Fertiliser, Fauji Cement, Fauji Fertiliser Bin Qaism, Fauji Fertilizer Company. Hub Power Company, Indus Motor, Inter Steel Ltd, Kot Addu Power Company Limited, Lucky Cement, Millat Tractors, National Bank of Pakistan, Nishat Mills, Packages Ltd, Pakistan Oilfields Limited, Pakistan State Oil, Sui Northern Gas, Thal Ltd., The Searle, United Bank Limited

In the back drop of the expected relocations, investors including the foreign ones continued to sell Lucky Cement and UBL shares for quite a long time.

AHL Research Head Samiullah Tariq told The Express Tribune that the recent massive sales across the board at the Pakistan Stock Exchange (PSX) have significantly slashed share prices of a number of stocks that resulted into reducing their market capitalisation, including those two relocated to small-cap indexes.

The reduction in market cap convinced Morgan Stanley Capital International (MSCI) to relocate the two.

Lucky Cement’s share dropped 0.24%, or Rs1.15, and closed at Rs468.81 with 594,100 shares exchanged hands at the PSX on Tuesday.

Market watch: Stocks fall ahead of upcoming MSCI review

UBL’ share price slightly recovered 0.03%, or Rs0.04, to Rs137.09 with 954,400 shares traded at the bourse.

Honda Atlas fell 4.15%, or Rs10.29, to Rs237.50 with a turnover of 520,700 shares. Maple Leaf Cement improved 1.24%, or Rs0.62, to Rs50.60 with 3.70 million shares.

In total, MSCI would add 48 securities from its global standard indexes and delete 66 with effect from December 1, 2018.

Similarly, it would add a total of 249 constituencies and delete 324 from its global small cap indexes.

Guidance : Country Exposure : Invesco MSCI Emerging Markets UCITS ETF Acc Exposure as of 28 Sep 2018 (%) :
China - 30.24%, India - 8.54%, Terroristan : As Much as 0.037%!

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Re: Terroristan - October 8, 2018

Postby anupmisra » 14 Nov 2018 22:57

Back pedaling continues. This time on the IMF matter.

In Pakistan's interest to seek IMF programme despite help from other countries: Asad Umar

Finance Minister Asad Umar has said it is still in Pakistan's interest to enter into a programme with the International Monetary Fund (IMF) to stabilise its economy, despite the agreements for financial assistance with other countries.
Speaking on DawnNewsTV show News Wise on Wednesday, he said the financing arrangements made by the Pakistan Tehreek-i-Insaf (PTI) government have eliminated any foreseeable financing problems until June 30, 2019.
He added, however, that such a programme will be entered into only if its conditions are in Pakistan's interest.
Claifying his earlier statement, Umar said he had stated that only the "immediate" economic crisis of the country was over
He said the country had accumulated a current account deficit of $19 billion last fiscal year and it faces payments worth $9bn for previously taken loans.
"Where we stand today, the current account deficit may total $12-13bn this [fiscal] year, the minister said.


Whoa! Hold on back pedaling Sad Age Man!!

1. What agreements and with which friendly countries? Are MOUs and frivolous statements are now = Agreements? Have the chinis committed in writing to anything? I heard that more talsk are due. Have have the saudis gotten their commitment from the TSPA on the "Yemeni" affair or the refinery?

2. June 30, 2019 is about seven months away (including holidays). $9 Bn needed now. $12 Bn will stave off creditors till end of next fiscal cycle? That is one heck of a sour pickle these idiots are in. What are they not telling their awaam?

3. Immediate crisis? Define "immediate". Till December 1, 2018 or when the next tranche of debt service is due?

https://www.dawn.com/news/1445580/in-pa ... -asad-umar

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Terroristan - October 8, 2018

Postby Peregrine » 15 Nov 2018 03:06

‘Mainstreaming’ of terrorists by Pakistan a threat, PM tells US VP – TNN

NEW DELHI: Prime Minister Narendra Modi pointed out the “mainstreaming” of figures involved in the 26/11 Mumbai attacks in the recent elections in Pakistan, a clear reference to Lashkar chief Hafiz Saeed, during his interaction with US vice-president Mike Pence in Singapore on Wednesday.

Briefing journalists on the Pence meeting, foreign secretary Vijay Gokhale said, “He (Modi) did point out that the mainstreaming of people involved in the Mumbai attacks in a political process which has taken place in the recent elections in Pakistan should be a matter of serious concern not just to the two countries — India and the US — but to the international community.”

PM Modi also reminded the US vice-president that in one way or another all the traces and all the leads in global terror attacks ultimately lead to a “single source and single place of origin”, in an apparent reference to Pakistan.

The foreign secretary said, “There was a sense of convergence both on bilateral issues and on global issues and we look forward to taking the relationship in coming months and in 2019”.

“There was some good understanding of the areas of how we move forward in building cooperation on counter-terrorism and both countries recognised this is a challenge which we have to fight together and to fight along with the rest of the international community,” Gokhale said.

India also called for an early end to negotiations for an Asian free trade agreement, the regional comprehensive economic partnership.

Modi and Pence continued their discussion on maintaining a free and open IndoPacific. “Spoke about our shared vision of a free and open & reaffirmed our commitment to strengthen security and counter-terrorism cooperation and coordination,” Pence tweeted after the meeting.

Modi became the first head of government to address Singapore’s famous FinTech festival. Pitching India as the “best” investment destination for global tech giants. He said India is experiencing a digital revolution of unprecedented speed and scale that has enabled financial inclusion of 1.3 billion Indians. “Technology is defining competitiveness and power in the new world and it is creating boundless opportunities to transform lives,” Modi said.

The PM also met his Australian counterpart, Scott Morrison, Thailand PM Gen Prayut Chan-o-cha, as well as Singapore PM Lee Hsien Loong.

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Terroristan - October 8, 2018

Postby Peregrine » 15 Nov 2018 17:14

FDI continues to fall in Pakistan – Salman Siddiqui

KARACHI: Foreign investors have continued to stay away from Pakistan as they are reluctant to make long-term investments in the face of ambiguity about new economic policy of the Pakistan Tehreek-e-Insaf (PTI) government.

Foreign Direct Investment (FDI) dropped 55% to $161.2 million in October 2018, compared with $354.6 million in the same month of last year, the State Bank of Pakistan (SBP) reported on Wednesday.

“Uncertainty has probably remained an element behind slowdown in foreign (direct) investment in Pakistan,” Pakistan Business Council Chief Executive Officer Ehsan Malik told The Express Tribune.

The current trend of investment these days is mostly for necessary expenditure. Global investors have not made any new long-term investment in any sector of the economy since long.

Pakistan needs to improve competitiveness to attract FDI

A source anticipated the FDI may remain low in the short-to-medium run since Finance Minister Asad Umar told a foreign investors’ advocacy body last week that the government was interested in attracting FDI in export projects and/or import substitution projects in Pakistan, instead of continuing to attract the investment in consumer goods sector.

The minister also urged the body for technology transfer into Pakistan along with FDIs.

The shift in the policy towards attracting FDI in new sectors would help the government narrow down the current account deficit and lower burden on the country’s foreign currency reserves, he added. Cumulatively in the first four months (July-October) of the current fiscal year, 2019, the foreign direct investment decreased 46% to $600.7 million compared with $1.1 billion made in the same period last year, according to the central bank data.

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Country-wise FDI

China has continued to remain the single largest investor on the FDI front under its ongoing China-Pakistan Economic Corridor (CPEC) projects in Pakistan. It alone invested $53.7 million in October that comes to about 33% of the total FDI worth $161.2 million in the month.

This month South Korea has also emerged as a notable investor, as it invested $43.7 million in the month.

The United Arab Emirates (UAE) was the third largest investor with net FDI of $22.8 million, while the United States and the United Kingdom on fourth and fifth positions with net investments of $19.8 million and $13.3 million, respectively.

On the other hand, Norway divested net $14.8 million, while Malta divested $11.7 million in the month.

Senate chairman invites foreign investment

Sector-wise FDIs

The beverages sector witnessed single largest inflow of FDI (net) worth $47.7 million, followed by pharmaceuticals and OTC products $32.3 million. The power sector attracted $30.1 million, while financial business received $11.8 million in the month.

The communication sector, which had continued to attract significant investment for quite a long time, witnessed a net outflow of $22.2 million in the month.

PSX investment

With foreign investors continuing to exit Pakistan’s capital market, the Pakistan Stock Exchange (PSX) in October also sold stocks worth $84.2 million compared to purchasing shares worth $21 million in the same month last year.

Such investors from the US and Luxembourg sold shares in net of $31.5 million and $24 million, respectively. The increase in divestment may be attributed to foreigners’ exit from many emerging markets and in anticipation of downgrading of two Pakistani stocks from MSCI mid-cap indices.

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Terroristan - October 8, 2018

Postby Peregrine » 15 Nov 2018 18:03

IMF dissatisfied with Pakistan's fiscal policies: Reports – PTI

ISLAMABAD: The IMF has expressed dissatisfaction at the current state of Pakistan's tax collection as the cash-strapped government sought a bailout package of up to $6 billion from the multilateral lender to overcome the economic challenges, media reports said on Tuesday.

The cash-strapped Pakistani government led by Prime Minister Imran Khan is facing grave economic challenges as it struggles to keep the economy afloat.

Last month, Saudi Arabia said it would provide Pakistan with a $6 billion rescue package, but officials have said it is not enough, and Islamabad still plans to seek a bailout from the International Monetary Fund (IMF).

Pakistan may ask the IMF for up to $6 billion, Geo News reported. If approved, it would be Pakistan's 13th rescue package from the multilateral lender since the late 1980s.

Pakistan formally approached the IMF in October for loans.

An IMF team is currently reviewing Pakistan's monetary and fiscal policies as well as its monetary needs in keeping with the current account deficit.

On Monday, the delegation, which has already concluded the technical discussions with the Pakistani representatives, commenced its policy-level talks with ministers and representatives of the Federal Board of Revenue (FBR).

Members of the team, led by Harald Finger, a senior economist and an adviser to the IMF, further stressed on effective measures required to increase the tax collection in order for Pakistan to deal with and recover from its financial crunch and current account deficit, Geo News reported.

According to the report, the IMF also indicated its support towards the FBR's move to send notices to thousands of tax defaulters.

There were two rounds of policy-level talks. Druing the first one, the IMF delegation met with Finance Minister Asad Umar and officials from the State Bank of Pakistan (SBP), whereas in the second, it met with the FBR representatives.

The IMF delegation was briefed on the tax collection target for the ongoing fiscal year as well as the financial performance during the first four months, starting July 1, 2018 (FY18-19).

The IMF team said it was difficult to achieve the goal of curbing the financial crisis without increasing the tax collection, it quoted sources as saying. They also underscored the need to widen the tax scope.

The fund is reported to have raised questions over more than Rs 90 billion revenue shortfall in the first four months of the current fiscal year and wondered how the projected fiscal deficit target of 5.1 per cent could be achieved when development programme had already been curtailed to a bare minimum, Dawn newspaper reported.

The IMF is also dissatisfied over the performance of the power sector whose losses and recoveries are reported to have gone down rather than improving since the last IMF programme was completed in Sept 2016, leading to build up of circular debt beyond Rs 1.2 trillion and creating supply side constraints, it said.

Informed sources told the paper that the authorities briefed the IMF delegation about the subsidies envisaged in the 2018-19 budget and those committed by the Khan government since it came to power three months ago.

The discussions are set to continue till November 20, the report said. From November 7 - when the IMF team arrived in Pakistan - to November 9, technical talks were held, during which data pertaining to the performance of various sectors was presented.

The IMF team would also review the apex bank, SBP's financial independence and the FBR's performance, the report said.

IMF Managing Director Christine Lagarde has said that Pakistan has requested financial assistance from the IMF to help address the country's economic challenges.

At the same time, she said the IMF would require "absolute transparency" of Pakistan's debts, including those owed to China, apparently referring to the $ 60 billion China-Pakistan Economic Corridor (CPEC) projects.

The CPEC is a network of infrastructure projects that are currently under construction throughout Pakistan that will connect China's Xinjiang province with Gwadar Port in Pakistan's Balochistan province. It is the part of Chinese President Xi Jinping's ambitious Belt and Road Initiative.

The US has said that the huge Chinese debt was responsible for the economic challenges facing Pakistan, adding that it will review Islamabad's bailout plea to the IMF from all angles, including the country's debt position.

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Terroristan - October 8, 2018

Postby Peregrine » 16 Nov 2018 01:27

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Re: Terroristan - October 8, 2018

Postby Vips » 16 Nov 2018 19:20

Immy the charsi is going to Malyasia next for begging. The wily Mahatir will play with him, charsi will see the cheque dropped in the post box but will not see the postage stamp missing :lol:

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Re: Terroristan - October 8, 2018

Postby anupmisra » 16 Nov 2018 19:28

Vips wrote:Immy the charsi is going to Malyasia next for begging. The wily Mahatir will play with him, charsi will see the cheque dropped in the post box but will not see the postage stamp missing :lol:


Wily old Mahathir is playing I'm the Dim like a banjo. Mahathir may even ask the dimwit to take back illegal pakis. Otherwise, Malaysia has nothing to gain from pakhanistan.

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Re: Terroristan - October 8, 2018

Postby anupmisra » 16 Nov 2018 19:35

I usually reserve my "sign off" message till the end of the day but, hey, we are talking about toiletistan and its esteemed leader, I'm the Dim.

And, now this.

A leader who doesn't take U-turns is not a real leader: PM Imran Khan

Prime Minister Imran Khan on Friday responded to much repeated ‘U-Turn’ allegations hurled his way saying a leader who does not take ‘U-Turns’ is not a ‘real leader.’
Talking to journalists at the Prime Minister House on Friday, the premier stated: “[Adolf] Hitler and Napoleon [Bonaparte] suffered huge defeats and caused losses as they did not take U-turns.”
He went on to claim: “A leader who does not take U-turns as per the requirements of the situation is not a real leader.”
“We have traced $15 billion that was sent to Dubai from Pakistan.” (a nice deflection)


Spoken like a true Niazi! So in response, here's PPP's Khursheed wading into murky waters.

Imran Khan is a 'Hitler', Khursheed Shah on PM's U-turn remarks

Senior leader of Pakistan Peoples Party (PPP) Khursheed Shah has dubbed Prime Minister Imran Khan ‘Hitler’ after Khan’s U-turn remarks.
He said that Hitler was a dictator and by giving his example Imran Khan has proved that he too is a Hitler.


On behalf of a billion Hindus: thank you, djinna'h!

https://www.thenews.com.pk/latest/39455 ... n-a-hitler
https://www.thenews.com.pk/latest/39454 ... eal-leader

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Terroristan - October 8, 2018

Postby Peregrine » 16 Nov 2018 20:02

OYEZ! OYEZ!! 0YEZ!!!

Imran Khan - the new Colonel Cargill of Fecal Terroristan :

PIA, Steel Mills, Railways not to be privatised - Syed Irfan Raza
ISLAMABAD: The Pakistan Tehreek-i-Insaf (PTI) government has decided not to privatise, instead revive, 195 ‘sick’ state enterprises and ordered bureaucrats to deliver on its policies within six months to secure their three-year term in office.
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Terroristan - October 8, 2018

Postby Peregrine » 16 Nov 2018 22:39

Govt faces tough choice as IMF recommends harsh tax measures – Shahbaz Rana

ISLAMABAD: The International Monetary Fund (IMF) has asked Pakistan to slap new taxes worth nearly Rs160 billion including raising the standard general sales tax (GST) to 18%, putting the Pakistan Tehreek-e-Insaf (PTI) government in a difficult position as it has promised a reduction in the indirect tax burden.

The IMF mission has sought tax efforts equal to 0.4% of gross domestic product (GDP) or Rs160 billion as part of an overall steep fiscal adjustment under the programme, said highly-placed sources in the Ministry of Finance.

It has also asked the Federal Board of Revenue (FBR) to prepare a strategy for releasing tax refunds and present it to the Fund before the end of policy talks.

Besides the Rs160-billion tax efforts, the IMF has suggested improving revenue collection at the import stage due to 26% rupee depreciation since January this year and further devaluation under the IMF programme, they added.

The authorities are working out the tax target on the basis of a minimum 12.5% nominal GDP growth rate.

The total impact of new taxes, administrative efforts and windfall gains from the currency devaluation is estimated at around 0.9% of GDP, the sources said. However, Pakistani authorities have not yet accepted these demands, claimed the finance ministry sources. Unlike in the past, when the Q-block was spearheading the policy talks, this time State Bank of Pakistan Governor Tariq Bajwa is playing the lead role due to his experience as the finance secretary and FBR chairman.

Pakistan and the IMF have been negotiating a bailout package aimed at avoiding default on international payments. Pakistan is also in negotiations with the United Arab Emirates and China to secure financial packages. No announcement has been made at the end of a bureaucrats-led mission to China on Sunday.

Pakistan booked the highest-ever current account deficit of $18 billion in the last fiscal year, which eroded its foreign exchange reserves. The deficit has started shrinking marginally, standing at $4.84 billion in the July-October period, down by 4.4%.

The IMF is asking Pakistan for a steep fiscal adjustment as it wants to see the budget deficit at around 3.5% of GDP at the end of its programme. The authorities are relying mainly on tax efforts to cut the deficit as there is a little room on the side of expenditures, said the sources.

The sources said one of the major demands of the IMF is to increase the GST rate by at least one percentage point to 18%. This will fetch a minimum Rs75 billion to Rs80 billion in additional revenues annually. In the remaining period of the current fiscal year, the 1% additional GST could fetch around Rs40 billion, the officials added.

At one stage, the IMF had asked Pakistan to increase the GST rate to 19%, they added. Last time, Pakistan had increased the GST by 1% to 17% under the previous three-year $6.2 billion Extended Fund Facility (EFF).

The FBR also charges higher-than-the-standard 17% GST from unregistered people, which currently stands at 3%. In case the government accepts the IMF demand, this rate will go up to 21%.

Pakistan’s direct tax collection is around 37% of the total collection including withholding taxes. The government has promised to reverse the current taxation policy, which is not only regressive but is also hurting the poor more than the affluent.

It will be a challenge for the government to impose new taxes as well as strike a balance between direct and indirect taxes.

The officials said the IMF was demanding that Pakistan also increase the income tax rates. However, there is little room for this as the FBR has already tapped almost every possible avenue, the sources added.

After coming to power, the PTI government had reduced the FBR’s annual tax collection target to Rs4.398 trillion. In the first four months of current fiscal year, it suffered a shortfall of Rs68 billion despite announcing a mini-budget two months ago.

It is not clear whether the Rs160 billion worth of additional taxes are aimed at increasing the overall target to Rs4.560 trillion or some of these measures will cover the shortfall.

During a meeting with Prime Minister Imran Khan, Finance Minister Asad Umar had talked about the possibility of new tax measures due to the FBR’s failure to meet its targets. The sources said the IMF has been assured that the FBR would be able to recover the shortfall in the coming months by collecting Rs45 billion through audit cases. Another Rs55 billion will be recovered by settling the cases stuck in litigation.

The officials said another possible avenue to meet the IMF’s demand could be to raise sales tax rates on petroleum products, which are currently far below the standard rate.

The government is charging 12% GST on high-speed diesel and only 4.5% on petrol. One indication of accepting the IMF demand will be that the GST rates on petroleum products could go up from December 1.

The lower GST rates on petroleum products are affecting tax collection by around Rs8 billion per month, according to the sources.

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Re: Terroristan - October 8, 2018

Postby SBajwa » 16 Nov 2018 23:52

JEM terrorist Zakir Musa spotted in Ludhiana!


http://ishare.rediff.com/video/others/s ... a/10999160

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Re: Terroristan - October 8, 2018

Postby SBajwa » 17 Nov 2018 00:45

https://www.tribuneindia.com/news/punja ... 84041.html

Gurdaspur, November 16

The Punjab Police have released “wanted posters” of terrorist Zakir Moosa, the chief of Jammu and Kashmir-based Ansar Ghazwat-ul-Hind terror outfit with reported links to Jaish-e-Mohammed (JeM), after they received inputs about his movements near Amritsar, reports ANI.

Gurdaspur SSP Swarandeep Singh said: “We had inputs about his movements near Amritsar. So we have released wanted posters of him to make public aware and have requested public to tell us if they have any information."

In October, the police had arrested two BTech students of the local St Soldier College of Engineering and Technology — Shahid Qayoom (22) and Fazil Bashir (23) in the low-intensity explosions on September 14 and said that it was the handiwork of Kashmir-based Ansar Ghazwat-ul-Hind (AGH) to which the arrested students were aligned.

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Terroristan - October 8, 2018

Postby Peregrine » 17 Nov 2018 00:54

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Terroristan - October 8, 2018

Postby Peregrine » 17 Nov 2018 03:52

Govt faces tough choice as IMF recommends harsh tax measures – Shahbaz Rana

ISLAMABAD: The International Monetary Fund (IMF) has asked Pakistan to slap new taxes worth nearly Rs160 billion including raising the standard general sales tax (GST) to 18%, putting the Pakistan Tehreek-e-Insaf (PTI) government in a difficult position as it has promised a reduction in the indirect tax burden.

The IMF mission has sought tax efforts equal to 0.4% of gross domestic product (GDP) or Rs160 billion as part of an overall steep fiscal adjustment under the programme, said highly-placed sources in the Ministry of Finance.

It has also asked the Federal Board of Revenue (FBR) to prepare a strategy for releasing tax refunds and present it to the Fund before the end of policy talks.

Besides the Rs160-billion tax efforts, the IMF has suggested improving revenue collection at the import stage due to 26% rupee depreciation since January this year and further devaluation under the IMF programme, they added.

The authorities are working out the tax target on the basis of a minimum 12.5% nominal GDP growth rate.

The total impact of new taxes, administrative efforts and windfall gains from the currency devaluation is estimated at around 0.9% of GDP, the sources said. However, Pakistani authorities have not yet accepted these demands, claimed the finance ministry sources. Unlike in the past, when the Q-block was spearheading the policy talks, this time State Bank of Pakistan Governor Tariq Bajwa is playing the lead role due to his experience as the finance secretary and FBR chairman.

Pakistan and the IMF have been negotiating a bailout package aimed at avoiding default on international payments. Pakistan is also in negotiations with the United Arab Emirates and China to secure financial packages. No announcement has been made at the end of a bureaucrats-led mission to China on Sunday.

Pakistan booked the highest-ever current account deficit of $18 billion in the last fiscal year, which eroded its foreign exchange reserves. The deficit has started shrinking marginally, standing at $4.84 billion in the July-October period, down by 4.4%.

The IMF is asking Pakistan for a steep fiscal adjustment as it wants to see the budget deficit at around 3.5% of GDP at the end of its programme. The authorities are relying mainly on tax efforts to cut the deficit as there is a little room on the side of expenditures, said the sources.

The sources said one of the major demands of the IMF is to increase the GST rate by at least one percentage point to 18%. This will fetch a minimum Rs75 billion to Rs80 billion in additional revenues annually. In the remaining period of the current fiscal year, the 1% additional GST could fetch around Rs40 billion, the officials added.

At one stage, the IMF had asked Pakistan to increase the GST rate to 19%, they added. Last time, Pakistan had increased the GST by 1% to 17% under the previous three-year $6.2 billion Extended Fund Facility (EFF).

The FBR also charges higher-than-the-standard 17% GST from unregistered people, which currently stands at 3%. In case the government accepts the IMF demand, this rate will go up to 21%.

Pakistan’s direct tax collection is around 37% of the total collection including withholding taxes. The government has promised to reverse the current taxation policy, which is not only regressive but is also hurting the poor more than the affluent.

It will be a challenge for the government to impose new taxes as well as strike a balance between direct and indirect taxes.

The officials said the IMF was demanding that Pakistan also increase the income tax rates. However, there is little room for this as the FBR has already tapped almost every possible avenue, the sources added.

After coming to power, the PTI government had reduced the FBR’s annual tax collection target to Rs4.398 trillion. In the first four months of current fiscal year, it suffered a shortfall of Rs68 billion despite announcing a mini-budget two months ago.

It is not clear whether the Rs160 billion worth of additional taxes are aimed at increasing the overall target to Rs4.560 trillion or some of these measures will cover the shortfall.

During a meeting with Prime Minister Imran Khan, Finance Minister Asad Umar had talked about the possibility of new tax measures due to the FBR’s failure to meet its targets. The sources said the IMF has been assured that the FBR would be able to recover the shortfall in the coming months by collecting Rs45 billion through audit cases. Another Rs55 billion will be recovered by settling the cases stuck in litigation.

The officials said another possible avenue to meet the IMF’s demand could be to raise sales tax rates on petroleum products, which are currently far below the standard rate.

The government is charging 12% GST on high-speed diesel and only 4.5% on petrol. One indication of accepting the IMF demand will be that the GST rates on petroleum products could go up from December 1.

The lower GST rates on petroleum products are affecting tax collection by around Rs8 billion per month, according to the sources.

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Re: Terroristan - October 8, 2018

Postby SSridhar » 17 Nov 2018 08:23

Oh, what a country and that too a nuclear power!

Pak got a "big" aid deal from China; not to reveal amount under instructions from President Xi: Imran Khan
Pakistan has received a "big" package of aid from its all-weather ally, China, Prime Minister Imran Khan said Friday, but will not reveal the quantum of financial support as President Xi Jinping has asked him not to reveal it, a media report said.

During an interaction with journalists at the PM House, Khan said that Pakistan has received a "big" package of aid from China but will not reveal it, Geo News quoted Khan as saying.

The prime minister said he did not want to reveal the quantum of aid from Beijing as other countries will start demanding more money from China, :rotfl: the report said.

Chinese President Xi has asked Khan not to announce the quantum of financial support, the Geo News report quoted the Pakistani prime minister as saying.

Unlike Saudi Arabia, which has announced a $ 6 billion aid package to Pakistan, Beijing has not revealed the quantum of its financial aid to Islamabad.

After his talks with Khan on November 3, Premier Li said China will provide the "necessary support" to Pakistan to tide over the present financial crisis.

Speaking about his recent trip to China, Khan said, "Concrete results of my visit are beginning to show. We are receiving all forms of aid from China and are satisfied."

"No other previous premiers' tours to China were as successful as mine was," he claimed.{So, Immy-the-Dummy crowns himself as the best beggar}

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Re: Terroristan - October 8, 2018

Postby anupmisra » 17 Nov 2018 09:45

SSridhar wrote:Prime Minister Imran Khan ... will not reveal the quantum of financial support as President Xi Jinping has asked him not to reveal it, ...as other countries will start demanding more money from China the report said.


A communist dictatorship and an islamic kleptocracy (masquerading as a democracy) involved in a hush-hush financial transaction. What can go wrong?

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Re: Terroristan - October 8, 2018

Postby nam » 17 Nov 2018 11:46

The prime minister said he did not want to reveal the quantum of aid from Beijing as other countries will start demanding more money from China,


He has a big one...don't want everyone to know.. :D

What a comedy of an adversary we have.

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Re: Terroristan - October 8, 2018

Postby Peregrine » 17 Nov 2018 15:54

Pakistan has received a "big" package of aid from its all-weather ally, China, Prime Minister Imran Khan said Friday, but will not reveal the quantum of financial support as President Xi Jinping has asked him not to reveal it, a media report said.

During an interaction with journalists at the PM House, Khan said that Pakistan has received a "big" package of aid from China but will not reveal it, Geo News quoted Khan as saying.

The prime minister said he did not want to reveal the quantum of aid from Beijing as other countries will start demanding more money from China, :rotfl: the report said.

Chinese President Xi has asked Khan not to announce the quantum of financial support, the Geo News report quoted the Pakistani prime minister as saying.

Unlike Saudi Arabia, which has announced a $ 6 billion aid package to Pakistan, Beijing has not revealed the quantum of its financial aid to Islamabad.

After his talks with Khan on November 3, Premier Li said China will provide the "necessary support" to Pakistan to tide over the present financial crisis.

Speaking about his recent trip to China, Khan said, "Concrete results of my visit are beginning to show. We are receiving all forms of aid from China and are satisfied."

"No other previous premiers' tours to China were as successful as mine was," he claimed.{So, Immy-the-Dummy crowns himself as the best beggar}
SSridhar Ji :

Story of Immy-the-Dummy's Life : Naam Badey pur Darshan Chottay!

Methinks that Cheenawalas have "Throttled" the Money Tap thus forcing Terroristan to "Beg" at the IMF's Door!

Now to Saudi Arabia - that is another story which should unfold in due time.

As to the IMF - Aagay Aagay Dekhiye Hota Hota Kya.

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Terroristan - October 8, 2018

Postby Peregrine » 17 Nov 2018 16:14

Pakistan should let market forces decide rupee’s fate: IMF - Shahbaz Rana

ISLAMABAD: The International Monetary Fund (IMF) has asked Pakistan to let market forces decide the fate of the rupee and go for a total free-float of the exchange rate, which the finance ministry is reluctant to accept due to its adverse implications for the economy.

Instead of accepting the condition of allowing market forces decide the value of the rupee, the Pakistani authorities are willing to further weaken the currency, said officials in the Ministry of Finance and the State Bank of Pakistan (SBP).

The IMF was taking an extreme position on the exchange rate due to the almost fixed value of the currency when Ishaq Dar was leading the finance ministry.

The officials said the total free-float of the exchange rate was not acceptable to Pakistan but the finance ministry was willing to let the currency depreciate that may largely reflect market fundamentals.

Policy talks with the IMF for the bailout package have reached a critical stage where both the sides are now penning down the conditions. These conditions have to be met before the approval of the loan by the IMF board and during the programme implementation period.

There is also difference of opinion on the extent of further currency devaluation by June 2019, according to the sources. The IMF is asking for a massive devaluation, which if accepted could push the rupee far above Rs150 to a dollar in coming months, they added.

The rupee traded at 133.89 to a dollar in the inter-bank market on Friday. Since December last year, Pakistan has let its currency weaken by 26.6%. Still, the IMF experts believe it is not enough, they added.

Since January, Pakistan has increased interest rate by 275 basis points to 8.5%, which is the highest increase by any Asian country.

Finance Minister Asad Umar has also reached out to independent economists and members of the Economic Advisory Council to get their views on the total free-float of the exchange rate as demanded by the IMF, said the sources.

These experts have also opposed the IMF demand, urging the government to continue with the ‘managed market-based exchange rate regime’ but more aligned to the economic fundamentals, according to the sources.

Pakistan, IMF to start bailout talks today

They argued that the total free-float will be disastrous for Pakistan. They were of the view that a total free-float would not work due to the very thin size of Pakistan’s currency market, apprehending that the few dealers would exploit the government.

The currency depreciation also carries serious implications for the inflation rate, which is already on the rise, touching a four-year high.

Pakistan implemented a fixed exchange rate system from 1947 to 1982. Then a managed floating exchange rate system was adopted in January 1982.

Since 2000, the country is theoretically following a market-based exchange rate but the SBP has been pumping billions of dollars annually to keep the rate at a level desired by the Q-block.

The IMF is also demanding more autonomy for the central bank, said the sources. Finance Minister Umar is willing to give full autonomy to the SBP for determining the value of the currency.

Pakistan’s foreign exchange reserves dipped to $7.4 billion last week. The reserves have also been used during the Pakistan Muslim League-Nawaz (PML-N) government’s tenure to defend the value of the rupee.

Pakistan’s external-sector vulnerabilities would not be fully addressed by the exchange rate tool alone and the government will have to apply a combination of interest rates hike, currency depreciation and administrative measures to contain aggregate demand in the economy.

Govt faces tough choice as IMF recommends harsh tax measures

Economic theories suggest that the currency devaluation could boost exports in a big way but Pakistani exporters heavily rely on imported raw material. One dollar worth of exports requires 35 cents for imported raw material, according to independent experts.

Secondly, the historical evidence suggests that 10% depreciation of the currency curtails the import bill by only 3%.

During a recent Business Advisory Council meeting, the country’s leading industrialists suggested to the prime minister that there should not be more devaluation and interest rates hikes – the demands that the government cannot meet due to upcoming monetary policy adjustments.

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Terroristan - October 8, 2018

Postby Peregrine » 18 Nov 2018 01:54

Image

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Re: Terroristan - October 8, 2018

Postby Rohit_K » 18 Nov 2018 04:28

Past week:

Nov 14 - Six workers die, one injured as boiler explodes in Karachi factory
https://www.dawn.com/news/1445584/six-w ... hi-factory

At least six workers died while one sustained burn injuries after a boiler exploded inside a factory in Karachi on Wednesday within the limits of Shah Latif Town police station, according to police and hospital officials.

Police said that the boiler blast occurred in Honda Atlas factory near Landhi Manzil Pump. As a result, seven workers received burn injuries


Nov 16 - Two killed, eight injured in Karachi blast
https://www.thenews.com.pk/print/394641 ... achi-blast
KARACHI: At least two people were killed and eight others wounded in a bomb blast in Karachi’s Quaidabad area late on Friday night. The blast was so powerful, it could be heard miles away while it also shattered the widowpanes of nearby buildings. According to police, besides the exploded bomb, there was another device planted nearby. Fortunately, the bomb disposal squad’s experts defused another bomb intending to target the crowd and the police.
The blast occurred at a crowded place under the Quaidabad flyover where several vendors had set up their stallsand pushcarts located near the office of the deputy commissioner, Malir, at the main Quaidabad Chowk in the limits of the Shah Latif police station.

"Two locally made bombs concealed in separate lunch boxes were planted under the flyover of which one exploded with a loud bang,” said Malir City DSP Ali Hassan. “But fortunately, the second bomb was recovered and defused by experts.”

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Terroristan - October 8, 2018

Postby Peregrine » 18 Nov 2018 16:00

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Terroristan - October 8, 2018

Postby Peregrine » 18 Nov 2018 19:00

1. WORLD BANK GROUP – DOING BUSINESS - 2018-11-18

PAGE 167 - INDIA South Asia GNI per capita (US$) 1,680

Ease of doing business rank (1–190) 100

Overall distance to frontier (DTF) score (0–100) 60.76

Population 1,324,171,354

PAGE 184 - PAKISTAN South Asia GNI per capita (US$) 1,510

Ease of doing business rank (1–190) 147

Overall distance to frontier (DTF) score (0–100) 51.65

Population 193,203,476

2.PAKISTAN ECONOMIC SURVEY 2017-2018

TABLE 1.5 : GROSS NATIONAL PRODUCT AT CURRENT PRICES

Population : 200.96 Million

Per Capita Income : US$ 1,640.5

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Re: Terroristan - October 8, 2018

Postby Bart S » 18 Nov 2018 19:34

^Indian per-capita in the above is wrong.

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Re: Terroristan - October 8, 2018

Postby anupmisra » 18 Nov 2018 19:39

Bart S wrote:^Indian per-capita in the above is wrong.


And, so is the paki per capita income.

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Re: Terroristan - October 8, 2018

Postby Peregrine » 18 Nov 2018 23:39

Bart S wrote:^Indian per-capita in the above is wrong.
anupmisra wrote:And, so is the paki per capita income.
anupmisra Ji :
Are you referring to the Terroristani Figures or the World Bank Group Figures?

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Terroristan - October 8, 2018

Postby Peregrine » 19 Nov 2018 00:27

They don't do a damn thing for us, says Trump in new tirade against Pakistan

Trump also defended his administration’s decision to pull hundreds of millions of dollars in military aid to Islamabad in an interview to Fox News.

“You know, living – think of this – living in Pakistan, beautifully in Pakistan in what I guess they considered a nice mansion, I don’t know, I’ve seen nicer,” Trump said, referring to bin Laden and his former compound in Abbottabad, Pakistan.

Trump agrees to reset Pak-US ties: FM Qureshi

The compound was destroyed shortly after the United States Naval Special Warfare Development Group forces, in a helicopter raid, killed bin Laden in 2011.

“But living in Pakistan right next to the military academy, everybody in Pakistan knew he was there,” he added. “And we give Pakistan $1.3 billion a year . … [bin Laden] lived in Pakistan, we’re supporting Pakistan, we’re giving them $1.3 billion a year –which we don’t give them anymore, by the way, I ended it because they don’t do anything for us, they don’t do a damn thing for us.”

US envoy hopes for peace deal with Taliban in 2019: media

The United States has already canceled $300 million in aid to Pakistan for its lack of decisive action against militant groups.

The cancelation of aid is part of President Trump’s New Year tweet in which he launched a scathing criticism against Pakistan for betraying the US.

“The United States has foolishly given Pakistan more than 33 billion dollars in aid over the last 15 years, and they have given us nothing but lies & deceit, thinking of our leaders as fools. They give safe haven to the terrorists we hunt in Afghanistan, with little help. No more!,” Trump tweeted on January 1.

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Last edited by Peregrine on 19 Nov 2018 01:11, edited 1 time in total.

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Re: Terroristan - October 8, 2018

Postby sanjaykumar » 19 Nov 2018 00:47

^^^ It might be instructive to compare the per capita incomes of Sindh vs gujarat and West Panjab vs Panjab/Haryana. Also HDI figures.
I mean it might be instructive for Pakistanis.

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Re: Terroristan - October 8, 2018

Postby Bart S » 19 Nov 2018 01:25

Peregrine wrote:
Bart S wrote:^Indian per-capita in the above is wrong.
anupmisra wrote:And, so is the paki per capita income.
anupmisra Ji :
Are you referring to the Terroristani Figures or the World Bank Group Figures?

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I think the Indian per-capita is at least around 2000$, probably more. Paki GDP must surely have been hit by the devaluation so should have fallen from around $1500 to a lower amount.

Here you go:

India (2018): $2016
https://www.imf.org/external/pubs/ft/we ... C&grp=0&a=

Pakistan (2016, after which the data seems to go blank, however currency devaluation means that they would likely have regressed, not to mention that their population numbers are dubious since they haven't done a census in 15 years) $1440
https://www.imf.org/external/pubs/ft/we ... C&grp=0&a=

Also, the 'Ease of doing business' rankings in your post are wrong. India is at 77 whereas Pakistan is at 136
https://en.wikipedia.org/wiki/Ease_of_d ... ness_index

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Re: Terroristan - October 8, 2018

Postby Rohit_K » 19 Nov 2018 03:04

VIDEO: Pakistani man killed over ‘honour’ in China
https://www.pakistantoday.com.pk/2018/1 ... -in-china/

Link to video (nsfw): https://www.facebook.com/aliarifofficia ... 973143653/

A shocking video of a Pakistani man, Osama Ahmed Khan, being beaten to death in Beijing, China surfaced on social media on Sunday.

The video which was shared by journalist Ali Arif on his Facebook page, shows Osama being beaten by two men using objects that look like a stone and brick. According to information shared on social media, Osama was killed by the brother and father of a girl he was dating. The father-son duo strike have Osama face down on a pedestrian crossing as they beat him on a main road in a seemingly well-populated area.

Many cars, motors and pedestrians pass by but do not look twice or stop or even call the police. The deceased belonged to Bahawalpur and was a Civil Engineering student at Shenyang University in Liaoning, China.

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Re: Terroristan - October 8, 2018

Postby Rohit_K » 19 Nov 2018 03:17

Nov 17 - Two security men martyred in North Waziristan attack
PESHAWAR: Two security personnel were martyred and another two injured when a vehicle of the Frontier Works Organisation (FWO) came under a rocket attack in North Waziristan tribal district on Saturday.

The attack occurred in the Gurbaz area of Ghulam Khan tehsil near the Pakistan-Afghanistan border. According to sources, the FWO vehicle was returning to its camp when the rocket fired from an unknown place hit it.


Nov 17 - Former DIG Naeem Kakar gunned down in Quetta
https://www.dawn.com/news/1446200
A former deputy inspector general of police was gunned down by unidentified assailants in Quetta on Saturday evening, police said.

Muhammad Naeem Kakar was walking after offering prayers at a mosque when unknown attackers opened fire on him in Junior Assistant Colony area, DIG Quetta Abdul Razzaq Cheema told DawnNewsTV. Kakar was critically injured in the firing and breathed his last at the Combined Military Hospital. Cheema said the assailants escaped unhurt from the site. Police and personnel of other law enforcement agencies were quick at the spot. An investigation has been ordered into the incident.

"At this point of time, I cannot say whether it was a targeted killing or not," DIG Cheema said. No group has claimed responsibility for the attack so far. Kakar had served as DIG special branch and on other important positions in Balochistan.


Nov 18 - 3 security personnel martyred in Quetta IED blast
https://www.dawn.com/news/1446367
At least three security personnel were martyred and three others injured in Quetta's Margate area on Sunday when an improvised explosive device (IED) targeting a security forces vehicle was detonated, DawnNewsTV reported.

According to Balochistan Frontier Corps (FC) spokesperson Khan Wasey, the roadside IED targeted a security forces vehicle transporting rations to the security personnel.

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Re: Terroristan - October 8, 2018

Postby anupmisra » 19 Nov 2018 03:43

Peregrine wrote:Are you referring to the Terroristani Figures or the World Bank Group Figures?


Even by WB standards (which reflect what the paki gobermint of the day informs WB), paki GDP at the end of 2017 stood at $305 Bn. (not adjusted for inflation or currency depreciation) and the paki census figures at the end of 2017 showed 212 Million momeens, momeenettes and nanha mujahids (not including the occupied states of cashmere and G-B). That's $1438 per paki per my handy dandy chini manufactured calculator.

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Re: Terroristan - October 8, 2018

Postby Peregrine » 19 Nov 2018 03:46

Peregrine wrote:anupmisra Ji :
Are you referring to the Terroristani Figures or the World Bank Group Figures?

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Bart S wrote: think the Indian per-capita is at least around 2000$, probably more. Paki GDP must surely have been hit by the devaluation so should have fallen from around $1500 to a lower amount.

Here you go:

India (2018): $2016
https://www.imf.org/external/pubs/ft/we ... C&grp=0&a=

Pakistan (2016, after which the data seems to go blank, however currency devaluation means that they would likely have regressed, not to mention that their population numbers are dubious since they haven't done a census in 15 years) $1440
https://www.imf.org/external/pubs/ft/we ... C&grp=0&a=

Also, the 'Ease of doing business' rankings in your post are wrong. India is at 77 whereas Pakistan is at 136
https://en.wikipedia.org/wiki/Ease_of_d ... ness_index
Bart S Ji :

Many thanks your above reply.

With all due respect and reverence my post had the WORLD BANK 2018 Figures.

Here are 2019 Figures :

WORLD BANK GROUP – DOING BUSINESS - 2019

INDIA South Asia GNI per capita (US$) 1,820
Ease of doing business rank (1–190) 77 Ease of doing business score (0–100) 67.23 Population 1,339,180,127

PAKISTAN South Asia GNI per capita (US$) 1,580
Ease of doing business rank (1–190) 136 Ease of doing business score (0–100) 55.31 Population 197,015,955

P.S. The "Differences" in the World Bank and IMF Figures are due to the Fact That THE WORLD BANK Is Giving THE GROSS NATIONAL INCOME PER CAPITA whereas the IMF is Giving THE GROSS DOMESTIC PRODUCT PER CAPITA !

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Terroristan - October 8, 2018

Postby Peregrine » 19 Nov 2018 03:56

Peregrine wrote:Are you referring to the Terroristani Figures or the World Bank Group Figures?
anupmisra wrote:[Even by WB standards (which reflect what the paki gobermint of the day informs WB), paki GDP at the end of 2017 stood at $305 Bn. (not adjusted for inflation or currency depreciation) and the paki census figures at the end of 2017 showed 212 Million momeens, momeenettes and nanha mujahids (not including the occupied states of cashmere and G-B). That's $1438 per paki per my handy dandy chini manufactured calculator.
anupmisra Ji :
Many thanks indeed for your elucidations which are gratefully received.

Bit OTT! What happened to the Kirikit arbitration between Terroristan and India?

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Re: Terroristan - October 8, 2018

Postby chetak » 19 Nov 2018 15:02

twitter

Ali Arif @i_aliarif

China: Pakistani student Osama(University: Shanyang) killed in public by the father and brother of the girl he was dating. This is 2nd such case, foreigners are definitely not safe in China. Any word on it ? @ImranKhanPTI @ShireenMazari1 @fawadchaudhry @omar_quraishi @ChinaDaily



watch the video

https://twitter.com/i_aliarif/status/1064190532006674433

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Re: Terroristan - October 8, 2018

Postby sudhan » 19 Nov 2018 15:26

Meanwhile.. away in Sheikdom of Abu Dhabi..

Pak cricketers are displaying the fine art of strapping on the soosai vest on a perfectly fine mush and blowing it up in a futile bid for 72


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