Pakistani Economic Stress Watch

The Strategic Issues & International Relations Forum is a venue to discuss issues pertaining to India's security environment, her strategic outlook on global affairs and as well as the effect of international relations in the Indian Subcontinent. We request members to kindly stay within the mandate of this forum and keep their exchanges of views, on a civilised level, however vehemently any disagreement may be felt. All feedback regarding forum usage may be sent to the moderators using the Feedback Form or by clicking the Report Post Icon in any objectionable post for proper action. Please note that the views expressed by the Members and Moderators on these discussion boards are that of the individuals only and do not reflect the official policy or view of the Bharat-Rakshak.com Website. Copyright Violation is strictly prohibited and may result in revocation of your posting rights - please read the FAQ for full details. Users must also abide by the Forum Guidelines at all times.
jash_p
BRFite
Posts: 252
Joined: 03 Feb 2008 05:56

Re: Pakistani Economic Stress Watch

Postby jash_p » 13 May 2019 06:49

Do any one have detail about conditions workout today with IMF ?

yensoy
BRFite
Posts: 1340
Joined: 29 May 2002 11:31
Location: USA

Re: Pakistani Economic Stress Watch

Postby yensoy » 13 May 2019 06:58

6 billion is peanuts, won't be enough even to cover interest on existing loans.

Lots of folks saying that if pak returns a couple of terrorists then we are ok with them and can make peace. Nonsense.

Our end goal still needs to be full denuclearization and partition of the country such that pakjab does not have a sea border.

SSridhar
Forum Moderator
Posts: 23570
Joined: 05 May 2001 11:31
Location: Chennai

Re: Pakistani Economic Stress Watch

Postby SSridhar » 13 May 2019 07:45

$6B over 3 years is of course not much for a bankrupt country with heavily bloated military which consumes most of the resources of the State.

But, that is like a seal of approval for loans from other sources. If Pakistan had failed to reach an agreement with the IMF, it would have been very disastrous what with the country already being in the grey-list of FATF with prospects of graduating to the exalted position of black-list. Pakistan might now hope to avoid black-listing in the meeting next month. It would be one more escape for Terroristan in the long list of such escapes.

The mistake many [continue to] make is trying to look at Pakistan through the prism of functions of a normal State. This abnormal and abominable country defies all logic. All it needs to do is to just survive the day to keep fighting us.

Singha
BRF Oldie
Posts: 66602
Joined: 13 Aug 2004 19:42
Location: the grasshopper lies heavy

Re: Pakistani Economic Stress Watch

Postby Singha » 13 May 2019 08:28

ISPR claims 4 BLA suicide fighters killed for the loss of 1 security guard at the gwader 5* hotel. some 4 soldiers reported injured.
unless the hotel were totally empty of guests thats a bit hard to believe.... the fighters looked well armed and trained in the videos and pics that BLA have released.

probably there were casualties but pakis are using well honed skills and isolated location of the hotel to hide it.

allegedly they came in a boat.

kit
BRF Oldie
Posts: 3022
Joined: 13 Jul 2006 18:16

Re: Pakistani Economic Stress Watch

Postby kit » 13 May 2019 08:30

SSridhar wrote:$6B over 3 years is of course not much for a bankrupt country with heavily bloated military which consumes most of the resources of the State.

But, that is like a seal of approval for loans from other sources. If Pakistan had failed to reach an agreement with the IMF, it would have been very disastrous what with the country already being in the grey-list of FATF with prospects of graduating to the exalted position of black-list. Pakistan might now hope to avoid black-listing in the meeting next month. It would be one more escape for Terroristan in the long list of such escapes.

The mistake many [continue to] make is trying to look at Pakistan through the prism of functions of a normal State. This abnormal and abominable country defies all logic. All it needs to do is to just survive the day to keep fighting us.


That won't happen if they are blacklisted. It's time we know their logic.lets just assume we know ALL their nuclear sites as well.

Singha
BRF Oldie
Posts: 66602
Joined: 13 Aug 2004 19:42
Location: the grasshopper lies heavy

Re: Pakistani Economic Stress Watch

Postby Singha » 13 May 2019 08:44

Keerthik Sasidharan

Verified account
@KS1729
18h18 hours ago

More Keerthik Sasidharan Retweeted Jaideep A. Prabhu

Ranked by GDP, top 10 Indian states, 2019 estimates

Maharashtra - $420 billion
Tamil Nadu - $260 bn
Karnataka - $230 bn
Uttar Pradesh - $220 bn
Gujarat - $213 bn
West Bengal - $180 bn
Andhra pradesh - $150 bn
Telangana - $120 bn
Kerala - $120 bn
Madhya Pradesh - $116


@orsoraggiante
Pakistan's economy contracts over 10% to $280 billion: http://bit.ly/2LAsb9V | Keep the pressure up along the LoC and watch the implosion

dhyana
BRFite -Trainee
Posts: 49
Joined: 23 May 2011 10:56
Location: sindoor

Re: Pakistani Economic Stress Watch

Postby dhyana » 13 May 2019 08:46

Singha said:
ISPR claims 4 BLA suicide fighters killed for the loss of 1 security guard at the gwader 5* hotel. some 4 soldiers reported injured. Unless the hotel were totally empty of guests thats a bit hard to believe.... the fighters looked well armed and trained in the videos and pics that BLA have released.


Gwadar hotel building badly damaged in terrorist attack

The building of the Pearl Continental Hotel in Gwadar has been badly damaged due to overnight explosions and rocket fire during the terrorist attack on Saturday.

The fourth floor of the hotel has been destroyed as the attackers had planted improvised explosive devices at its entry points and also fired rockets,” security officials said. The ground floor and the other three floors had also been damaged in the encounter between security forces and the attackers, they said.

“The boom of guns and blasts pierced the silence of the night between Saturday and Sunday, persisting till early morning,” Abdul Rahim Baloch, a resident of Gwadar, told Dawn.


Agreed, doesn't sound like some simple, tidy operation with minimal casualties. But, I guess the Purefools never really own up to their losses. So, why would they start doing so now?

Prem
BRF Oldie
Posts: 21044
Joined: 01 Jul 1999 11:31
Location: Weighing and Waiting 8T Yconomy

Re: Pakistani Economic Stress Watch

Postby Prem » 13 May 2019 09:36


Singha
BRF Oldie
Posts: 66602
Joined: 13 Aug 2004 19:42
Location: the grasshopper lies heavy

Re: Pakistani Economic Stress Watch

Postby Singha » 13 May 2019 10:04

pics of the dead BLA team show the scorch marks of explosions both on their bodies and on the rooms, with water used to douse the flames.

Shaktimaan
BRFite
Posts: 410
Joined: 11 Aug 2016 06:14

Re: Pakistani Economic Stress Watch

Postby Shaktimaan » 13 May 2019 10:50

Is this puny $6 billion bailout by IMF a Chanakian ploy by Im the Dim to give bitter medicine to the TSP economy and pass on the blame to IMF? Otherwise what's the point of all this hullaballoo for only $6 billion that too over 3 years?

madhu
BRFite
Posts: 232
Joined: 12 Oct 2005 17:00
Location: India

Re: Pakistani Economic Stress Watch

Postby madhu » 13 May 2019 12:34

Singha wrote:
@orsoraggiante
Pakistan's economy contracts over 10% to $280 billion: http://bit.ly/2LAsb9V | Keep the pressure up along the LoC and watch the implosion


is LOC still hot? I thought it is only very light firing going on if at all.

menon s
BRFite
Posts: 656
Joined: 01 May 2010 09:51
Location: Bangalore

Re: Pakistani Economic Stress Watch

Postby menon s » 13 May 2019 14:04

Pakistan got 6 bn from #IMF, that too over a period of 3 years?


#IPL ecosystem, is now valued at 6.2 billion USD!
https://sportstar.thehindu.com/magazine ... 582278.ece

Peregrine
BRF Oldie
Posts: 7305
Joined: 11 Aug 2016 06:14

Pakistani Economic Stress Watch

Postby Peregrine » 13 May 2019 15:54

Peregrine wrote:Bart S Ji :

That is a Fact NO ONE CAN DENY!

BTW : I hope you calculate the Aam Abdul Population and confirm that the Terroristanis tell LIES without Moving their Lips!

Cheers Image
kit wrote:Guys ., you are missing the core point. It actually benefits the Pakistani "army". An educated well fed population may not exactly what the army wants (their kids go abroad anyway).so "army" leeches off the populace that is more concerned about their day to day life than taking a good look at what their "army" actually does.

So to make it simple "development " doesn't suit the army unless it actually benefits them directly. It might be a threat even.

The Pakistani deep state is the army and its extensions .

The best way to counter them is their own population in revolt.

India or for that matter any other country can help them by NOT helping them economically.
kit Ji :

Au contraire mon ami.

One cannot be accused of having the Temerity and Gall to state that it benefits the Aam Abdul and even Burqa Bilqis and their Seven to Ten Children!

The Real Population is possibly 250 to 300 Million Terroristanis - as the 220 Million is a figment of imagination. Aam Abduls and Burqa Bilquis are busy in increasing their family size by creating a Katar - Line - of Junior Aam Abduls and Burqa Bilqis from the Bed to the Door!

Of course it will as usual benefit the Defence Forces in General and the Army in Particular. That is a Given. You can take that to the Bank!

Cheers Image

kit
BRF Oldie
Posts: 3022
Joined: 13 Jul 2006 18:16

Re: Pakistani Economic Stress Watch

Postby kit » 13 May 2019 17:04

Shaktimaan wrote:Is this puny $6 billion bailout by IMF a Chanakian ploy by Im the Dim to give bitter medicine to the TSP economy and pass on the blame to IMF? Otherwise what's the point of all this hullaballoo for only $6 billion that too over 3 years?


And half of it to service a previous loan.

menon s
BRFite
Posts: 656
Joined: 01 May 2010 09:51
Location: Bangalore

Re: Pakistani Economic Stress Watch

Postby menon s » 13 May 2019 17:17

PSX Suspended!
Down 816 points.

Parasu
BRFite
Posts: 244
Joined: 04 Dec 2017 14:18

Re: Pakistani Economic Stress Watch

Postby Parasu » 13 May 2019 17:51

Unkil is equally addicted to guboing the Pakis.
With only $6 billion, Pakroaches will need to beg again in some days. So, either uniformed jihadis deliver on the ununiformed jihadis in Afghanistan through Khalilzad or Unkil will go deeper the next time Pakis go to Washington to beg.
When this ends, al Bakistan will have only two type of people. Uber gareeb malsi lover Abdul, and uber rich malsi lover generals.

Peregrine
BRF Oldie
Posts: 7305
Joined: 11 Aug 2016 06:14

Pakistani Economic Stress Watch

Postby Peregrine » 13 May 2019 18:26

menon s wrote:PSX Suspended!
Down 816 points.
menon s Ji :

In Terroristani Speak : It means "Closed for the day".

Cheers Image

Peregrine
BRF Oldie
Posts: 7305
Joined: 11 Aug 2016 06:14

Pakistani Economic Stress Watch

Postby Peregrine » 13 May 2019 19:03

Singha wrote:@orsoraggiante
Pakistan's economy contracts over 10% to $280 billion: http://bit.ly/2LAsb9V | Keep the pressure up along the LoC and watch the implosion
Singha Ji :

Pakistan's External Debt and Liabilities - Outstanding Provisional - (Million US$) on 31-12- 2018

GDP - US$ 277,206 Million i.e. US$ 227.206 Billion

Last Day Weighted Avg. Exchange Rate : 138.8

Let us wait for the Average Rate for 30-06-2019

Cheers Image

banrjeer
BRFite
Posts: 159
Joined: 21 Dec 2008 14:39

Re: Pakistani Economic Stress Watch

Postby banrjeer » 14 May 2019 00:02

What are the fault lines. Is it better for say Sindh/Panjab to negotiate separate deals with lower risk ?

banrjeer
BRFite
Posts: 159
Joined: 21 Dec 2008 14:39

Re: Pakistani Economic Stress Watch

Postby banrjeer » 14 May 2019 03:22

https://en.wikipedia.org/wiki/List_of_P ... ic_product

so very crudely:
Sindh despite being arid has higher per capita GDP perhaps largely due to karachi and shoulders a bigger chunk of the regular economy.
panjab has a lower burden but will presumaby take a bigger chunk of risk since most power consumers are from there.
Balochistan is not on the scene and does not seem to have much to lose/gain.

Peregrine
BRF Oldie
Posts: 7305
Joined: 11 Aug 2016 06:14

Pakistani Economic Stress Watch

Postby Peregrine » 14 May 2019 04:21

Image
Cheers Image

Prem
BRF Oldie
Posts: 21044
Joined: 01 Jul 1999 11:31
Location: Weighing and Waiting 8T Yconomy

Re: Pakistani Economic Stress Watch

Postby Prem » 14 May 2019 06:48

Peregrine wrote:
Singha wrote:@orsoraggiante
Pakistan's economy contracts over 10% to $280 billion: http://bit.ly/2LAsb9V | Keep the pressure up along the LoC and watch the implosion
Singha Ji :
GDP - US$ 277,206 Million i.e. US$ 227.206 Billion
L]

Even if survived ,TSP economy will be reduced to 3% of our economy by 2029-2030.

suryag
Forum Moderator
Posts: 3371
Joined: 11 Jan 2009 00:14

Re: Pakistani Economic Stress Watch

Postby suryag » 14 May 2019 14:41

Folks what is this nonsense about comparing that rump economy with ours, compare it with BD or SL

Aditya_V
BRF Oldie
Posts: 10776
Joined: 05 Apr 2006 16:25

Re: Pakistani Economic Stress Watch

Postby Aditya_V » 14 May 2019 15:00

suryag wrote:Folks what is this nonsense about comparing that rump economy with ours, compare it with BD or SL


Thats what plus help from 3.5 fathers pays for the Paki Army and Jihadis, beyond a point their military capability will degarade enough for it to split.

SSridhar
Forum Moderator
Posts: 23570
Joined: 05 May 2001 11:31
Location: Chennai

Re: Pakistani Economic Stress Watch

Postby SSridhar » 14 May 2019 16:08

In Pakistan, voices critical of CPEC being suppressed, US lawmakers told - PTI
People and the media in Pakistan are scared of speaking against the multi-billion-dollar China Pakistan Economic Corridor (CPEC) as critical voices are being suppressed, treated as anti-national or branded as terrorists, a former Obama Administration official has told US lawmakers.

"Rarely will you read an article that's critical about CPEC in the Pakistani media. Very rarely. There's been a media capture essentially and there's only the CPEC narrative because people are scared or they've been intimidated or threatened not to do certain pieces," Shamila Chaudhary from the Johns Hopkins University School for Advanced International Studies said.

Testifying before a Congressional committee last week, Chaudhary, who served in the previous Obama Administration, told the lawmakers that at the very local level, people who critique CPEC are often labelled as terrorists.

"There are anti-terrorism laws that can be used against them. Worse things could possibly happen. So it's a very real threat and it has already done a lot of damage to the civil society and the democratic culture that's fairly vibrant, despite their country's history with democracy," she said.

Responding to questions from the lawmakers, Chaudhary said unlike America's soft power, the Chinese model of development does not increase people to people relationship.

"The Chinese don't have that and the Chinese nationals that are going to, say, Pakistan, for example, they're not there to become part of the culture or learn about the communities or have cross-cultural dialogue," she said.

Chinese are in Pakistan to make money, she alleged. "They live in enclaves and essentially what people call Chinese colonies and go to their own restaurants. And that's not something that's going to favour China, Pakistan or China's cooperation with any country for that matter over the long run. Local communities will be very upset by those things, I believe," Chaudhary said.

Informing the lawmakers that the Chinese financial assistance to Pakistan is being kept secret, she said the information now has been shared by Pakistan with the International Monetary Fund (IMF) so that it can be bailed out of the current financial crisis.

"The deal (with IMF) is almost complete and it's my understanding that that information has actually been shared, and so, you know, what Pakistan won't share publicly as part of a bilateral deal with the Chinese, I think it's more willing to share when it needs it," Chaudhary said.

CPEC, she said, hurts US regional interests by disrupting the fragile India-Pakistan ties, a nuclear-fuelled dynamic that demands US stewardship from time to time during times of crisis.

"China's provision of surveillance, data collection capabilities and new hardware to the Pakistani military may seem like it improves security, but such tools also increase the likelihood of invasive data collection, misuse of information and violations of privacy," she said.

"The notion that the Pakistani military might start to mimic Chinese authoritarianism is no longer theoretical. Pakistani civil society and media report more aggressive tactics by the military to silence critical voices. They share a common refrain, that the military is more powerful than ever and that's because of China," Chaudhary said.


She told the lawmakers that in Pakistan, Chinese influence stands alone, changing the rules of the game for everyone else.

For example, Pakistan no longer publicly discloses the terms of its loans from China. Indeed, CPEC pretends immense geo-economic and geopolitical advantages for China in Pakistan, but its repercussions will dwarf any comparable American influence, she said.

To protect US geopolitical options in the future, the US should support the Pakistani and regional actors most threatened by Chinese influence. {Why Pakistani? Pakistan should not be allowed to sleep with two partners at the same time as it has always happened so far. The theory that 'Pakistani fears' can be assuaged by feeding it more of the same has utterly failed and it is this strategy that has spun off the monster that Pakistan is today. The US must stay away from that old construct} Ultimately, countering China's rise will require the US to create policies that both address and benefit from the needs of other countries, Chaudhary said.

Peregrine
BRF Oldie
Posts: 7305
Joined: 11 Aug 2016 06:14

Pakistani Economic Stress Watch

Postby Peregrine » 14 May 2019 16:52

S&P BSE SENSEX

Index Current : 37,318.53 - Pt. Change : +227.71 - % Change : +0.61%

Market Capitalization of BSE Listed Co. (Rs.Cr.) : 1,45,18,260.40 - $ 1 / I N R : 70.5600

Market Capitalization of BSE Listed Co. (U S $.) : 2,057.58

Market watch: Stocks bleed as KSE-100 plummets 816 points

After yesterday’s Bloodshed here is today’s P S E Report

P S E

Current Index : 33,885.09 – Change : -15.29 - Percent Change :-0.05%

Market Capitalization of P S E is not available

Cheers Image

Peregrine
BRF Oldie
Posts: 7305
Joined: 11 Aug 2016 06:14

Pakistani Economic Stress Watch

Postby Peregrine » 14 May 2019 20:45

Clearance from FATF must for IMF loan: Dr Pasha

ISLAMABAD: Dr Hafeez Pasha, Pakistan’s one of the distinguished economists and former finance minister, has said that the IMF press release following the staff level agreement on $6 billion loan programme with Pakistan, has indicated that the Executive Board of IMF will approve the loan only after the FATF clears Pakistan from anti-money laundering and terror financing charges.

Speaking his mind over the staff level agreement with IMF, Pasha mentioned a specific reference in the IMF press release, which has asked the government of Pakistan to show commitment against money laundering and terror financing, meaning thereby that FATF clearance is mandatory to qualify for the programme.

The Financial Action Task Force (FATF) is scheduled to be held in Beijing from May 15 to May 17 and will minutely examine Pakistan’s compliance report on total 19 points, including risk assessment to currency smuggling for money-laundering and terror-financing through cash couriers. The executive board of the Fund, where US is the major shareholder of the total fund which is 16.52 per cent and has the voting power of 831,407, will go through the staff level agreement with Pakistan and will give their final nod. The Executive Board will approve the loan after keeping in view the FATF report about Pakistan on money-laundering and terror-financing conditions of the Fund that the government of Pakistan has accepted.

The DNA of IMF is quite different this time from the past as the US, NATO forces and India who are out to use the tools of FATF and IMF to tame Pakistan and more importantly force Pakistan to ensure the smooth exist of US forces from Afghanistan.

Coming to the loan programme of $6 billion that Pakistan will have 39 months from IMF, Dr Pasha argued in the first three months Pakistan will be groping in the dark and will have no tranche after the agreement as the tranches will start after three months provided Pakistan fulfills all the prior actions. He further said it is basically not $6 billion loan, instead it is $3 billion as Pakistan has to pay back to IMF $3 billion loan in next three years. The amount is meager and is not enough to help Pakistan bridge the financing gap. Astonishingly the Fund is not ready to roll over its loan, but it has asked Pakistan in the press release to ask its international development partners to rollover their loans.

Dr Pasha said the IMF has basically asked Pakistan to have commitment from China, Saudi Arabia and UAE to rollover their loans to Pakistan. He said on one hand the IMF is not willing to rollover its loan, but on the other hand it is asking Pakistan to arrange breathing space to cope with the financing gap from the said countries by arranging the rollover.

Dr Pasha said this is one of the prior actions which Pakistan has to complete prior to qualify for approval of loan programme from the Executive Board of IMF. He said China’s loan stands at about $19 billion mainly in project financing and [b]$7 billion are from Chinese commercial banks and $4 billion are parked in the reserves. Saudi Arabia has given Pakistan $3 billion and UAE $2 billion. The Fund wants the rollover of these loans.[/b] It is quite strange that IMF is not willing that Pakistan owns the said loan which is against the international norms and practices.

More importantly in the press release, the IMF asked the government to balance the NFC award between federation and provinces which is tantamount to breach of the Constitution of Pakistan. He said after the 18th Amendment the share of provinces in the NFC Award cannot be reduced.

The most alarming thing mentioned in the press release, he said, is that Pakistan government is bound to bring down the primary budget deficit to 0.6 per cent in next budgetary year from over 2 per cent. ‘This simply means that IMF has asked Pakistan to place cut on the defense budget which is not possible as our forces are engaged on both the eastern and the western borders of the country.’

Pasha explained the primary deficit means total revenue less non-interest expenditure. This means that Pakistan will have no option but to place huge cut on defense budget. The IMF wants Pakistan government to ensure the primary budget surplus of 2.5 per cent by reducing the defense budget and keeps central bank away from the exchange rate leaving it to the market forces.

Meanwhile, Arif Habib Limited Research on expected features of IMF programme worked out that in the wake of free float of exchange rate, US dollar will appreciate to Rs147 by June 2019 that will further increase to Rs152 by December this year. This will yield additional devaluation of Pak rupee by 10-13 per cent. The research also said the discount rate from existing level will also increase by 50-75 basis points. And to lower the fiscal deficit, and to ensure the higher revenue, GST will be increased to 18 per cent and a Value Added Tax will be introduced.

Once we went into Fund’s programme, the growth will remain stagnant at 3 per cent, and the middle class will squeezed more and more people will go down below the poverty line.

According to Dr Hafeez Pasha about one million people be unemployed because of slowing down of the economy whereas 4,000,000 people have already gone down the poverty line so far and in next two fiscal years, about 8000,000 more people are feared to go down below the poverty line. During the IMF three years period, the growth will remain at 3 per cent in the next two years and a generation of Rs700 billion through taxation measures in next budgetary year will serve nothing but ruin the economy as people will not pay more when the growth will be at the lowest ebb.

NUTCRACKER TIME!

Cheers Image

sanjaykumar
BRF Oldie
Posts: 3919
Joined: 16 Oct 2005 05:51

Re: Pakistani Economic Stress Watch

Postby sanjaykumar » 14 May 2019 23:18

Well, so long suckers.

venug
BRFite
Posts: 197
Joined: 15 Aug 2016 21:39

Re: Pakistani Economic Stress Watch

Postby venug » 15 May 2019 00:33

China, India To Battle Over Pakistan at FATF Meet in Florida
China is likely to thwart India’s moves of hurdling Pakistan to pressure the latter to comply with anti-terrorist financing efforts at the upcoming Financial Action Task Force (FATF) meeting in Florida, USA. Last month, India had finally managed to get Masood Azhar, Jaish-e-Mohammad chief, listed as a global terrorist by the United Nations with the backing of China and continues to pressure Islamabad to crack down on home-grown terrorists.

An Indian government official disclosed that they fear that Pakistan may get a breather as Beijing is taking over as the chair. China’s Liu was appointed as FATF vice-president and also the FATF president-designate by the plenary for one year preceding his presidential term.

...
If Pakistan fails to comply on ‘at least 15 to 17’ of the 40 FATF recommendations, it faces sanctions by international monetary bodies. The sources said the country may be subjected to a downgrade in risk rating by agencies like Moody’s, S&P, and Fitch.

...
Islamabad is also worried about the European Commission (EC) has already placed it in its list of inadequate jurisdiction on Anti-Money Laundering and Counter Terror Financing regimes. And if this time around, pushed into the ‘blacklist’, Pakistan will face serious economic and financial impact. And this will leave immense damage on Pakistan’s economy. Thus, the troubled country has got its hopes up on nearest neighbour, China.

Peregrine
BRF Oldie
Posts: 7305
Joined: 11 Aug 2016 06:14

Pakistani Economic Stress Watch

Postby Peregrine » 15 May 2019 16:51

Pakistan not to pick sides in Iran-US tussle: FM - Kamran Yousaf

ISLAMABAD: Pakistan is closely observing the ongoing tensions between Iran and the United States but will not join any camp in case of a conflict, Foreign Minister Shah Mehmood Qureshi said on Tuesday.

Remember : American attorney, Robert F Horan who prosecuted Aimal Kansi wanted in the USA for killing two CIA officials in an interview to a local TV channel. He went on to say "Pakistanis will sell their mothers for a dollar”
Cheers Image

sudhan
BRFite
Posts: 1068
Joined: 01 Jul 2009 17:53
Location: Timbuktoo..

Re: Pakistani Economic Stress Watch

Postby sudhan » 15 May 2019 17:04

Peregrine wrote:
ISLAMABAD: Pakistan is closely observing the ongoing tensions between Iran and the United States but will not join any camp in case of a conflict, Foreign Minister Shah Mehmood Qureshi said on Tuesday.



"Pakistanis will sell their mothers for a dollar”


Totally agree, Peregrine ji. I am also reminded of Im dadim claiming that the aid from ME is cause Pakis have paid the blood sacrifice for the arabs..

All that bluster about neutrality will stay till someone waves a thick wad of green backs under their noses..

Then they appear whenever wherever needed with a silly grin on their faces and a jar of Vaseline..

Peregrine
BRF Oldie
Posts: 7305
Joined: 11 Aug 2016 06:14

Pakistani Economic Stress Watch

Postby Peregrine » 15 May 2019 17:25

Soup in nullah : Number of Terroristani Rupee Billionaires Rises by Leaps and Bounds

US dollar touches all-time high at Rs146.25 in open market

The value of US dollar against rupee on Wednesday touched an all-time high of Rs146.25 in the open market, DawnNewsTV reported.

The greenback's value increased by Rs2.25 to reach an all-time high amid speculations that the local currency will depreciate further.

Read more: Pakistan reaches agreement with IMF, to receive $6 billion over 3 years

Earlier on Monday, the US dollar had gained Rs2 against the rupee in the open market as there were strong speculations that rupee will depreciate significantly after signing of a bailout agreement with the International Monetary Fund (IMF).

The IMF spoke of a “market determined exchange rate” in its statement on the programme, and the financial markets have not taken the words very well. Speculation has broken out in the forex markets, with small and large investors looking towards the greenback.

"The potential for higher rate of dollar is visible in the inter-bank money market," a banker was recently quoted as saying.

“Fears of further devaluation as a result of the agreement with the IMF have depressed the currency market and the rupee may lose more against the greenback in the coming days,” Secretary General of Exchange Companies Association of Pakistan Zafar Paracha had said on Monday.

Most of the currency dealers and experts have already expressed their disappointment over the undisclosed conditions agreed between the IMF authorities and the government.

Cheers Image

yensoy
BRFite
Posts: 1340
Joined: 29 May 2002 11:31
Location: USA

Re: Pakistani Economic Stress Watch

Postby yensoy » 15 May 2019 18:21

As per Najam Sethi in his daily TV show, State Bank of Pakistan (which is the central reserve bank) has basically stopped selling dollars, and black-market is also in a wait and watch mode; so in these circumstances a fall to 146 is actually not such a bad thing after all.

I think Pak govt has not yet started up the printing press, which means that there aren't too many rupees to go around. Everyone who wanted dollars has already purchased them. Remittances keep coming in to satisfy outbound needs; exports have been curtailed quite a bit by barriers and by lack of affordability.

Now the problem with restricting rupee supply is this: (i) Pak government cannot inflate its way out of its deficit - so to balance the books they will further cut welfare and development spending, and (ii) there will be no economic growth of any sort.

Post Ramzan with the additional dollar demands for Haj, it will be interesting to watch.

Peregrine
BRF Oldie
Posts: 7305
Joined: 11 Aug 2016 06:14

Pakistani Economic Stress Watch

Postby Peregrine » 15 May 2019 19:18

HAPPY DAYS ARE HERE AGAIN TERRORISTAN DEBT HAS GONE UP AGAIN ALSO TERRORISTANI GDP HAS GONE DOWN AGAIN!.
Pakistan's External Debt and Liabilities Outstanding Provisional – Financial Year 2018-2019 - (Billion US$)

DEBT : Second Quarter : 099.086 - Third Quarter : 105.841

G D P: Second Quarter : 277.206 – Third Quarter : 273.445

Pakistan's Debt and Liabilities Profile - Financial Year 2018-2019 (In Billion Rupees)

DEBT : Second Quarter : 33,235.7 - Third Quarter : 35,094.5

Cheers Image

Prem
BRF Oldie
Posts: 21044
Joined: 01 Jul 1999 11:31
Location: Weighing and Waiting 8T Yconomy

Re: Pakistani Economic Stress Watch

Postby Prem » 16 May 2019 04:22


menon s
BRFite
Posts: 656
Joined: 01 May 2010 09:51
Location: Bangalore

Re: Pakistani Economic Stress Watch

Postby menon s » 16 May 2019 12:13

Peregrine G ;
please add this video wherever you wish.
Pakistanis are breaking into fight while ending ramzan fast!
https://twitter.com/ShamaJunejo/status/ ... 5607576577

mmasand
BRFite
Posts: 424
Joined: 19 May 2009 23:46

Re: Pakistani Economic Stress Watch

Postby mmasand » 16 May 2019 13:38

menon s wrote:Peregrine G ;
please add this video wherever you wish.
Pakistanis are breaking into fight while ending ramzan fast!
https://twitter.com/ShamaJunejo/status/ ... 5607576577


Not one of them is a Paki, don't spread fake news. It clearly mentions Medina and the Grand mosque can be seen in the background.

Peregrine
BRF Oldie
Posts: 7305
Joined: 11 Aug 2016 06:14

Re: Pakistani Economic Stress Watch

Postby Peregrine » 16 May 2019 14:49

menon s wrote:Peregrine G ;
please add this video wherever you wish.
Pakistanis are breaking into fight while ending ramzan fast!
https://twitter.com/ShamaJunejo/status/ ... 5607576577
menon s G :

Many thanks. I have tried, but, cannot "open" the Video.

Cheers Image

Peregrine
BRF Oldie
Posts: 7305
Joined: 11 Aug 2016 06:14

Pakistani Economic Stress Watch

Postby Peregrine » 16 May 2019 14:57

An interesting account of the Shia disappearances and their re-emergence(s)

“They recruited Pakistani Shias when Daesh came to Syria,” he said. “Many people from Parachinar were recruited, trained and sent to Syria.”
Malayappan Ji : One is reminded of the Song which I venture to post :

I Ran, you Ran, we all Ran for ----- :

I Scream You Scream We All Scream for Ice Cream – Chris Barber
Cheers Image

Peregrine
BRF Oldie
Posts: 7305
Joined: 11 Aug 2016 06:14

Pakistani Economic Stress Watch

Postby Peregrine » 16 May 2019 15:26

KARACHI: The rupee dropped to an all-time low of 148.50 to the US dollar in the inter-bank market on Thursday.

It weakened by over five per cent, or Rs7.10, from Wednesday close of 141.4 in early hours of trade at the inter-bank.

Currency dealers are selling dollar at Rs148 and buying at Rs145, a Karachi based dealer told The Express Tribune.

The drop in rupee comes a day after Prime Minister Imran Khan constituted a committed to control rupee devaluation after its free fall reaching 147 in the open market.

He had warned current dealers of strict actions if they were found selling dollar above Rs144.

Experts said the drop in rupee was expected, as the government had agreed to leave inter-bank market free from state control under the IMF 39-month loan programme with $6 billion for Pakistan.

The government signed the loan programme on Sunday. IMF had conditioned to let the market forces decide rupee-dollar exchange rate going forward.

There was speculation in the market that the rupee may drop to 165-170 to the US dollar under the current cycle of depreciation.

Earlier, the SBP had let the rupee depreciate by staggering 34 per cent to 141.4 since December 2017.

Cheers Image


Return to “Strategic Issues & International Relations Forum”

Who is online

Users browsing this forum: dhyana and 63 guests