Pakistani Economic Stress Watch

Atmavik · Post by **Atmavik** » 21 Feb 2023 20:46

^* before coming to India there are plenty of DHA, golf courses , Model towns, Baharia Towns in Paki land . Before these are invaded discussing India is a moot point.

Atmavik · Post by **Atmavik** » 21 Feb 2023 20:48

Atmavik wrote:^* before coming to India there are plenty of DHA, golf courses , Model towns, Baharia Towns in Paki land . Before these are invaded discussing India is a moot point.

https://bahriatown.com/

Deans · Post by **Deans** » 21 Feb 2023 21:54

There won't be a refugee problem for India. We are overthinking this.

The RAPE elite will flee in larger numbers to the West. That's good because Pak loses its educated people and those educated people will work in
McDonalds. Next level of people will try to be refugees in the West.
Urban unemployed will go back to their villages. The land produces enough food grain to support the population. A simple rural existence will
reduce demand for electricity, fuel & consumer products.
If manufacturing activity slows and urban incomes drop, the demand for imports (and forex) drops, which improves Pak's forex balance.

Hindu's and Sikhs will be welcome in India and by taking them in we fulfill our humanitarian obligations. J&K is an ideal place for resettlement.

Anujan · Post by **Anujan** » 21 Feb 2023 22:27

https://mobile.twitter.com/FinMinistryP ... 5985489921

Ministry of Finance
@FinMinistryPak
A delegation of Rothschild & Co comprising Mr. Eric Lalo,Partner and Mr. Thibaud Fourcade, MD called on Finance Minister for Senator Mohammad Ishaq Dar and shared Company’s profile and its financial services to various countries across the world

Proof of YYY conspiracy against Pakistan by George Narendra Benjamin.

Ministry of Finance
@FinMinistryPak
(2/2)...Finance Minister appreciated M/s Rothschild’s positive intentions for the economic development of Pakistan

I think Dar is definitely a Jewish RAA agent trained by CIA.

Also Rothschild & co is an expert at debt restructuring. So what is happening here

williams · Post by **williams** » 22 Feb 2023 00:03

Aditya_V wrote:2 things, we can always as back up as BSF to fire on them, no one will mistake us. and indoctrination of theirs will help us. Most likely this is going to bring a wave refugees into Europe through Turkey, the fun will start there.

We can do more. As the economic woes continue, we should be exploiting the faultlines, especially in GB and Baluchistan. Time to think of the Balkanisation of the land of the pure.

CalvinH · Post by **CalvinH** » 22 Feb 2023 00:32

Deans wrote:There won't be a refugee problem for India. We are overthinking this.

The RAPE elite will flee in larger numbers to the West. That's good because Pak loses its educated people and those educated people will work in
McDonalds. Next level of people will try to be refugees in the West.
Urban unemployed will go back to their villages. The land produces enough food grain to support the population. A simple rural existence will
reduce demand for electricity, fuel & consumer products.
If manufacturing activity slows and urban incomes drop, the demand for imports (and forex) drops, which improves Pak's forex balance.

Hindu's and Sikhs will be welcome in India and by taking them in we fulfill our humanitarian obligations. J&K is an ideal place for resettlement.

if we break Pak into 4 than Pakjab will become like modern day Afghanistan. Pakjabis will surely try to enter India illegally for menial jobs, illegal smuggling and other activities and create an informal economy between the two regions. India may not have a refugee crisis but it would like the BDs trickling in slowly, establishing ghettos and changing demographics over a longer term.

India needs to have a plan for this as well.

RAPE elite would be screwed. Most of them are educated only on paper with an education that is sub-par for any real job in developed world. They make money in Pakistan and funnel it outside to live life well overseas. They can migrate but they wont be affluent anymore as the money supply from Pakistan will die.

Atmavik · Post by **Atmavik** » 22 Feb 2023 00:36

Anujan wrote:https://mobile.twitter.com/FinMinistryP ... 5985489921

Ministry of Finance
@FinMinistryPak
A delegation of Rothschild & Co comprising Mr. Eric Lalo,Partner and Mr. Thibaud Fourcade, MD called on Finance Minister for Senator Mohammad Ishaq Dar and shared Company’s profile and its financial services to various countries across the world
Proof of YYY conspiracy against Pakistan by George Narendra Benjamin.

Ministry of Finance
@FinMinistryPak
(2/2)...Finance Minister appreciated M/s Rothschild’s positive intentions for the economic development of Pakistan

I think Dar is definitely a Jewish RAA agent trained by CIA.

Also Rothschild & co is an expert at debt restructuring. So what is happening here

Dar ka Mahol hai…

Neela · Post by **Neela** » 22 Feb 2023 00:51

Mollick.R wrote:
Why Pakistanis Need India's Help to Survive Economic Collapse
By Hasan Suroor, TIMES OF INDIA.COM
Feb 20, 2023, 13:37 IST

Let the message go out to Islamabad, that Delhi remains a city of dilwalon ki whose heart is still in the right place, irrespective of what they plot in Islamabad.

The writer is an independent commentator.

So this guy is fully rehabilitated at TOI. Creeps I tell you - the entire media cabal are absolute filth.

"Let the message go to Islamabad.."

I dont know much Hindi but "Arre chupre ch00tiya perv". Like its his fathers govt to declare and dictate.
Whats with Pakis and wannabe Pakis . One half jihadi half cricketer says "Indians are not large hearted". This half dead geriatric fool wants Indians to have hearts in the right place. FFS, these guys are close to cannibalism as there isnt going to be enough food. But boy do they have some bluster or what.
Its also a very strong reminder to Indians - your mercy cannot be reserved for Pakis. They beg for a morsel of food and with that new-found energy will try to kill you.

Please ignore if distasteful. Admins feel free to delete.

Hasan Suroor looked so old, he resembled a real zombie in the video from 7 years ago in London where he was caught soliciting. Must be 70+ years old and was chatting up 15 yr old girl ( or atleast he thought he was) . This guy is so frail, a single jaw-side hook from your weaker arm would send him flying a few meters to a coma until a sorry painful death. Sorry but how did we come to a stage where we we allow such scum to preach. We are a degenerate society.

vimal · Post by **vimal** » 22 Feb 2023 03:03

There was a Baki artist who claimed he hates Kuffars but took their money anyway. Anyone who things Baki hordes will NOT cross the border and infiltrate every nook and cranny of India needs their head examined.

Manish_P · Post by **Manish_P** » 22 Feb 2023 08:26

Back to raising the PSX share market for today, so that it can crash tomorrow and at least a days earnings can be made

Yawn - IMF staff-level pact likely this week

With the implementation of all major prior actions, Pakistan is eyeing a staff-level agreement with the International Monetary Fund (IMF) this week which will also pave the way for much-awaited credit flows from other bilateral and multilateral lenders.

A day after the passing of the Supplementary Finance Bill 2023 in the National Assembly, the top economic team of the PMLN-led coalition government on Tuesday briefed the parliamentary committees on finance on all conditions agreed upon with the Fund.

Deans · Post by **Deans** » 22 Feb 2023 09:24

A part of my post on Pak refugees was made in a lighter vein. On a serious note, I reiterate that we won't see a big refugee influx and should not
underestimate Pakistan's ability to survive. I believe talk of its breakup or collapse is premature - much as I would like it to happen.

The estimate of Pak GDP growth this year, made just a couple of months ago, by IMF is 2%. The actual will probably be worse, but unlikely to be
negative. India managed a - 8 % drop in GDP (-9% in per capita income) during 20-21 due to covid. We survived it because people dug into their savings and the urban unemployed returned to villages. That is what Pak will also do, though their economy is less resilient. e.g. no buffer stock of food and difficult to revive manufacturing, with no forex for import.

The lead indicators for a refugee inflow, are Hindus and Sikhs migrating to India, which has not happened yet.
Also, no of Schengen /UK visa applications from Pak. 2022 data is not published. Its comparison with 2019 (pre covid) will be interesting.
For the middle class, marriage is a possible route into India. If one makes a fake profile of a Muslim girl, open to a partner from Pak, on a
portal like shaadi.com there is no increase in interest from Pak boys, compared to last year, nor an increase in Pakistanis listed.

Infiltration from BD seems to have dropped in the last few years, as the BD economy has grown (BD per capita income is higher than Eastern India)
and the border has been fenced. In the absence of the 2021 census data, the TFR (kids per woman) in border districts in WB (trend in the last 4 decades) is a rough indicator of the religion breakup of the population in border districts.

Dilbu · Post by **Dilbu** » 22 Feb 2023 11:09

Hopes rekindle for $2b Chinese loans

ISLAMABAD: Pakistan and China have reached a deal for a $700 million commercial loan, reviving prospects for a total of $2 billion injection from the friendly country -- a move that might temporarily stabilise the extremely thin foreign currency reserves until the International Monetary Fund (IMF) money started pouring in.

The development came days before Pakistan was scheduled to return another $300 million Chinese commercial loan.

The agreement for the $700 million loan between Pakistan and the China Development Bank was reached at the weekend.

According to officials, the money is expected to be transferred this week. “One loan will be rolled over in a day or two,” said Finance Secretary Hamed Yaqoob Sheikh on Tuesday.

RaviB · Post by **RaviB** » 22 Feb 2023 16:39

From the above story shared by Dilbu ji https://tribune.com.pk/story/2402584/ho ... nese-loans

Although Minister of State for Finance Dr Aisha Pasha hoped that the staff-level agreement with the IMF might be reached this week, it would still take another one and a half months before the global lender called a board meeting and approved the $1.1 billion tranche.

The finance secretary also said the staff-level agreement with the IMF would be finalised soon.

However, he added that the economic challenges would not come to an end immediately.

So basically they are hoping that other countries start lending them money once the staff level agreement is reached. The 1.1 billion will be too little too late.

the cost of debt servicing might increase to a whopping Rs5.3 trillion in this fiscal year -- a sum that was Rs100 billion more than what Pakistan conveyed to the IMF last week and Rs1.4 trillion higher than the budgeted estimates.

They will never stop lying and this will probably delay the staff level agreement. In finance this is called withholding material information and usually leads to cancellation of loans but Pak is Pak.

The company officials encouraged the Pakistani authorities to follow the IMF path and not default on its obligations, saying the debt restructuring was always painful, according to people privy to these discussions.

The delegation also said Pakistan did not need to default or a hard restructure.
They advised the ministry to improve communication with the rest of the world.
The finance ministry said in a press statement that Dar greeted the delegation and shared the economic outlook of the country.

In other words, beg harder but it will still hurt.

The delegation was of the view that Pakistan should “vigorously” highlight the positives in its economy globally.

Well that's what we have this thread for

S_Madhukar · Post by **S_Madhukar** » 22 Feb 2023 18:13

Any Baki refugee problem will be limited to Punjab... assi Panjabi tussi Panjabi is where the most danger lies. Jammu will be the other axis. Rest are all Hindoo napaak areas so hopefully the pakjabis will rely on their shariat and stay put. In fact we should portray Pakjab as the purest of all so that all the unwashed stay there waiting for their 72

Dilbu · Post by **Dilbu** » 22 Feb 2023 19:16

Things are really bad if plush postings for RAPEs are being trimmed.
PM asks FO to cut number of missions abroad

ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday issued instructions to the Ministry of Foreign Affairs to slash down a number of foreign missions abroad and reduce their offices, staff, and other measures to cut down expenditures by 15 percent. “The prime minister is pleased to direct that a well-considered proposal/ plan in this respect may please be submitted to this office within two weeks positively,” a directive issued by the PM Office reads.

This official communication titled “Rationalisation of Foreign Mission Abroad” states that in view of the ongoing economic constraints and the consequent need for fiscal consolidation and control of external deficit, the prime minister was pleased to constitute a National Austerity Committee (NAC).

The committee has recommended, inter-alia, that the expenditure on Pakistan Missions abroad may be reduced by 15 percent. “This may be achieved by curtailing the number of Foreign Missions, reduction in the number of officers and staff posted there and other suitable measures,” it further stated.

Although Minister for Finance Ishaq Dar in his mini budget speeches reiterated the government’s commitment to undertaking austerity steps by the PM within weeks, there was a perception that the government undertook all tough measures by hiking electricity, and gas tariffs and imposing Rs170 billion additional tax burden there was no hurry for cutting down wasteful expenditures.

For instance, one federal minister consumes 1,000 liters of petrol on monthly basis. He possesses a luxurious vehicle and three other official cars.

Another minister demonstrating austerity has written a letter to return a vehicle to the government and also made the letter public. But he didn’t disclose that he had utilised his ministry’s limit on petrol just in a couple of months of the ongoing financial year. There is another practice in the Federal Secretariat as hiring was being done in name of specialists, experts, and young fellows without consideration of actual requirements and well-defined Key Performance Indicators (KPIs).

The majority of bureaucrats is taking the monetisation of vehicles but is also using official cars and petrol through different heads.

Dilbu · Post by **Dilbu** » 22 Feb 2023 19:18

Price of diesel to go up by Rs10 per litre

ISLAMABAD: In order to meet a shortfall in revenue, the government has decided to increase the rate of the petroleum development levy (PDL) during the upcoming two months which will result in the price of diesel going up by an additional Rs10 per litre.

While the government had targeted collection of Rs855 billion on account of PDL, its projected collection only amounted to Rs680 billion. Therefore, in order to bridge this gap of Rs175 billion, the government has decided to increase the rate of PDL by Rs5 per litre on diesel from March 1 and Rs5 per litre from April 1, 2023.

Dilbu · Post by **Dilbu** » 22 Feb 2023 19:26

Steel industry on brink of collapse

ISLAMABAD: Pakistan’s steel industry is on the brink of collapse and now it is called upon State Bank of Pakistan (SBP) to open up LCs and address the severe shortages of rebars in the domestic market. Through SOS, the steel industry has warned that there are 7.5 million jobs at stake if the LCs are not opened urgently. According to a statement issued here on Monday stating that the Pakistan Association of Large Steel Producers (PALSP) is sounding an alarm and calling on the State Bank of Pakistan (SBP) to take urgent action to open LCs and address the severe shortage of rebars in the domestic market.

The situation has reached a critical level, with imports for the first seven months of FY23 down by 40 percent from the same period last year, which was 2.5 million metric tons. In January 2023, only 220,000 metric tons of scrap were imported, the lowest January import since the last 5 years, representing a sharp decline of 50 percent compared to January 2020.

Not only is the shortage causing problems for the steel industry, but it is also impacting customers who rely on it. Genuine builders who have taken billions of rupees from investors and potential tenants are still constructing their projects, yet inflationary cost escalations continue to irk the construction industry. PALSP notes that approximately 80 percent of builders, holding strong repute, are continuing their projects and honoring their commitments as they had booked raw materials in advance from the rebar manufacturers with the income received during the launch of their projects. However, the actual problem will arise when the rebar manufacturers shut down in the coming months due to zero availability.

Further price increases in the coming weeks cannot be ruled out due to the shortage. Domestic scrap has gone from Rs120,000 per ton to over Rs200,000 per ton, a record jump of 40 percent in raw material cost in just a few weeks. PALSP urges the Ministry of Industries to implement a Scrap Recycling policy like India to increase domestic generation and bring prices down urgently.

The sharp increase in local scrap prices and lack of options to import raw material has already led to approximately 80 percent of small to medium-sized mills shutting down, suggesting a massive wave of unemployment. Additionally, 45 allied industries are related to the steel industry, and there will be 7.5 million jobs at stake if LCs are not opened urgently. PALSP urges the SBP to act on war footing and ensure LCs are opened as soon as possible. The time to act is now to prevent a further deterioration of the situation, the statement concluded.

yensoy · Post by **yensoy** » 22 Feb 2023 23:27

Pakistan has won this round.

They have completely screwed their population including taxing the poor through regressive taxation, and they have made a smoke and mirrors show of taxing the rich. The rich will figure out ways around it for sure. They have pretended to enforce severe austerity in the government, nothing will happen other than maybe reduce some crazy excess. They have severely clamped down on USD purchases for imports/LoCs, this is certainly a very short term play just to stave from bankruptcy till foreign money flows again.

Inflation will ensure that poor & salaried (in particular those who don't have a way to "boost" their salary) pay for the so-called belt tightening.

They have done nothing to the feudals. They have not touched the neutrals.

Now money will flow again till the next crisis which will certainly be worse than this one. There is no intent here to fix the root of the problem.

jash_p · Post by **jash_p** » 22 Feb 2023 23:35

Code: Select all

Rothschild & Co delegation meets Dar, discusses roadmap for economic recovery
Dar expresses commitment to completing IMF programme, according to Finance Division statement
BR Web Desk Published February 21, 2023

Touba, touba, touba
Now Pakis are bagging to Yahud Rothchild (Jamaimas relative) for money.

vimal · Post by **vimal** » 23 Feb 2023 05:15

With $80B in loan repayment due in the next 3 years it’s going to be impossible not to default again very soon.

Atmavik · Post by **Atmavik** » 23 Feb 2023 05:17

^^ will beg to IMF by July of this year

yensoy · Post by **yensoy** » 23 Feb 2023 05:28

This is how it works for the leadership:
1. Cover your own a** for the time being
2. Pray fervently for emerging geopolitics to make Pak a pivot again, and for riches to rain down from four fathers
3. In the meantime buy all the pizza franchises that you can grab

Bigger problems like exploding population (figuratively and literally), dropping water table, radicalization, decreasing quality of life and inflation will be solved by the unnamed one.

nachiket · Post by **nachiket** » 23 Feb 2023 05:53

yensoy wrote: Now money will flow again till the next crisis which will certainly be worse than this one. There is no intent here to fix the root of the problem.

Doesn't matter. If the IMF fell for their nonsense now it'll fall for it again. Meanwhile paki awam will remain in poverty but still worried only about being greener than everyone else (they found time to burn a guy for blasphemy in the middle of all this) and the elites will continue enjoying their gated communities and luxury cars.

chetak · Post by **chetak** » 23 Feb 2023 07:39

nachiket wrote:
yensoy wrote: Now money will flow again till the next crisis which will certainly be worse than this one. There is no intent here to fix the root of the problem.
Doesn't matter. If the IMF fell for their nonsense now it'll fall for it again. Meanwhile paki awam will remain in poverty but still worried only about being greener than everyone else (they found time to burn a guy for blasphemy in the middle of all this) and the elites will continue enjoying their gated communities and luxury cars.

everyone knows that the IMF is in the pockets of a few countries.

No amount of discussion with salaried IMF wallahs is going to change the situation for the pakis. It is only and merely another occasion for the babooze to meet, greet and eat.

Once the instructions to the paki army are formulated, and the requirements of these few countries have been "negotiated", and the marching orders have been given to the pizza sellers, then, and only then, will there be some forward movement as far as the "loan" is concerned.

Per EAM Jaishankar, preparations for the Indian elections have already started in many countries.

It would be foolish on our part not to expect the pakis and their puppet masters to play their part in this process.

red lines have to be drawn with nepal, beediland, afghanistan, SL, and pukestan and the cheeni because of the cross border transfer of drugs, gold, arms and jihadis.

qatar needs to be quietened with a really tight and public slap that also reverberates loudly all across the sand pit

The soros type of meddlers and deep state entities will come in with their heavy weaponry like big tech, SM, and and multimedia including local presstitutes and their offshore patrons

Deans · Post by **Deans** » 23 Feb 2023 09:00

S_Madhukar wrote:Any Baki refugee problem will be limited to Punjab... assi Panjabi tussi Panjabi is where the most danger lies. Jammu will be the other axis. Rest are all Hindoo napaak areas so hopefully the pakjabis will rely on their shariat and stay put. In fact we should portray Pakjab as the purest of all so that all the unwashed stay there waiting for their 72

The differences between the 2 Punjabs will soon be like South vs. North Korea, where wishing away differences is neither desirable nor possible.
The sooner we understand that the better.

Dilbu · Post by **Dilbu** » 23 Feb 2023 11:32

Impasse in talks with IMF on debt surcharge

ISLAMABAD: Pakistan and the International Monetary Fund (IMF) on Wednesday failed to break impasse on a new contentious issue of permanently imposing a Rs3.82 per unit debt surcharge to recover Rs284 billion more from electricity consumers.

Against the government’s decision to impose the new surcharge for eight months (March-October 2023), the IMF has asked the government to keep the levy as a permanent fixture in electricity bills until the government settles the Rs800 billion circular debt parked in a company.

Meanwhile, confusion prevailed on Wednesday when the finance ministry took the position different from what the Power Division had communicated to the IMF a day earlier.

This once again underscored lack of coordination among key government departments, which is contributing towards an inordinate delay in reaching a staff-level agreement with the IMF.

sanjaykumar · Post by **sanjaykumar** » 23 Feb 2023 12:06

There is a rapidly diminishing sentiment of assi vi panjabi. I don’t know if Sikhs have some but it is about zero for panjabi Hindus.

It may be that the hindutva movement has directed their attention elsewhere.

It does not help when minorities pull a stunt like hijabs in colleges. Suddenly the south, karnataka, begins to displace panjabyat in one’s esteem. That was a self goal. It only helped to consolidate a pan India Hindu consciousness.

VishnuS · Post by **VishnuS** » 23 Feb 2023 13:23

S_Madhukar wrote:Any Baki refugee problem will be limited to Punjab... assi Panjabi tussi Panjabi is where the most danger lies. Jammu will be the other axis. Rest are all Hindoo napaak areas so hopefully the pakjabis will rely on their shariat and stay put. In fact we should portray Pakjab as the purest of all so that all the unwashed stay there waiting for their 72

No bhai, this is where you're wrong!!

If that's the case, then we should see Bangladeshi only in WB, but we have seen them all over India.

There is one more thing, most of the Bangladeshi will quietly work, take less pay, yes we have had issues of theft and attacks, but they're not raising any alarm, things are going to be very different with illegal Paki.

Paki naturally harbor hate towards India, if they start illegally pouring into India, then we'll see it's affects within 5 to 7 years just like how EU is experiencing!

Coming to Paki influx into India, Anti National NGO's will play a huge role in their rehabilitation and getting them Indian Citizenship, please don't expect anything less!

VishnuS · Post by **VishnuS** » 23 Feb 2023 13:28

I wish we start building fenced border with landmines all over the border areas!

We have to publicize this!! Otherwise things will get lot worse when Pak falls!!

Manish_P · Post by **Manish_P** » 23 Feb 2023 14:09

No wonder we were invaded so many times and akhand bharat is now only some image made on paper

Anyway, back to the latest on Pakhonomics

Yawn - Belt-tightening ordered to avert economic storm

‘Austerity measures’ expected to save Rs 200 bn annually

Armed forces to brief Senate panel today on cutting non-combat expenditure

Prime Minister Shehbaz Sharif has asked his ministers and advisers to forego their salaries, benefits and luxury cars and fly economy class as part of an austerity drive aimed at saving the government Rs200 billion a year.

Some of the decisions taken in the federal cabinet meeting included the withdrawal of salaries, security vehicles, perks and privileges of cabinet members; a ban on the import of luxury items and official vehicles for over a year; fewer foreign visits; a ban for cabinet members on staying in five-star hotels; only one official plot for a government employee; selling spacious houses given to government officers; the opening of government offices at 7:30am to save electricity and gas, etc.

I bet the last point is the one which fatty Fawad 'Chicken Chowmein' Chaudhry will be worried about the most...

yensoy · Post by **yensoy** » 23 Feb 2023 14:18

^^^^ As usual the above misses the fact that it is not the expense but the performance that matters. Skimping on business class travel doesn't help; companies pay big bucks for business class not as a luxury for the executive rather to ensure that they can rest well on the flight and be ready for a long day of negotiations when they arrive in New York or wherever. Instead of holding their ministers & government officers accountable for performance, they are messing with their creature comforts which will only make them even less inclined to do any productive work.

Dilbu · Post by **Dilbu** » 23 Feb 2023 16:05

IT exports fall 23pc to eight-month low in January

KARACHI: Pakistan’s information technology (IT) exports for January 2023 decreased by 23 percent month-on-month (MoM) to lowest since May 2022, data showed on Wednesday, with a hint that a gap between exchange rate markets had contributed to the decline.

IT exports for Jan’23 stood at $190 million, with 20 percent and 35 percent MoM decline in computer and telecom services respectively. Among computer services, exports of computer software and software consultancy dropped by 25 percent and 15 percent MoM respectively.

Dilbu · Post by **Dilbu** » 23 Feb 2023 16:08

Pakistan may need debt adjustment despite IMF support: Barclays

Pakistan may require a debt adjustment in some form given the sharp deterioration in its external position, even if some support from the International Monetary Fund (IMF) and bilateral institutions is materialised, said Barclays Bank.

In its report on Pakistan titled ‘Payment halt a possibility’ released on February 21, Barclays said it maintains an ‘Underweight rating’ on the country’s sovereign debt.

Barclays was of the view that Pakistan’s debt metrics in and of themselves are not yet a cause for alarm.

“But the large debt stock implies that ongoing access to funds and robust economic growth are necessary to keep debt within sustainable levels,” it said.

Any financing secured from bilateral or multilateral sources will need to be deployed for debt repayments and to support letters of credit for imports. This implies that the drain of FX reserves is unlikely to halt in the absence of relief for debt repayments or incremental financing: Barclays

Aditya_V · Post by **Aditya_V** » 23 Feb 2023 16:43

Dilbu wrote:IT exports fall 23pc to eight-month low in January
KARACHI: Pakistan’s information technology (IT) exports f

bloody hell its not Pakistan’s ~~information technology~~ (IT) exports its International Terrorism - that's the IT Pakis export, which has come down heavily since the morning of 26 Feb 2019.

Manish_P · Post by **Manish_P** » 23 Feb 2023 17:03

Aditya_V wrote:
Dilbu wrote:IT exports fall 23pc to eight-month low in January
bloody hell its not Pakistan’s ~~information technology~~ (IT) exports its International Terrorism - that's the IT Pakis export, which has come down heavily since the morning of 26 Feb 2019.

Very correct.

And at the same time their IT imports have gone up significantly. Primarily due to MFN status to Afghanistan.

Dilbu · Post by **Dilbu** » 23 Feb 2023 20:49

Breaking the IMF cycle

The current bailout programme under discussion for revival is our 23rd, which means the country has been going to the IMF every three years, making Pakistan the most frequent customer of the Fund. However, despite such recurring programmes, Pakistan’s fiscal and external account deficits have gone from bad to worse.

The basic problem of excessive reliance on imports, low foreign currency earnings from exports and remittances (current account deficit), arose primarily because of flawed economic policies, too much bureaucracy, multiple governments, over regulation and excessive taxation – which created a pernicious environment for development entrepreneurship and innovation necessary for a productive economy.

According to former deputy governor of the State Bank of Pakistan Mr Murtaza Syed, the country requires a whopping $35 billion annually for the next five years – $25 billion just for debt repayment and $10 billion for current account deficits. And even if we somehow manage to reduce the latter to $5 billion, raising $30 billion a year is a daunting sum to mobilize for a country that is under huge debt burden with low confidence of investors and lenders. Clearly, if these figures are right, the revival of the current IMF programme is unlikely to restore confidence that is necessary to normalize the country’s trade and investment transactions with local and international investors, buyers and sellers.

The harsh reality is that the country has reached a stage, where the ‘business as usual’ that has continued for decades is no longer possible. In my humble judgement, there are two possible options that Pakistan and its key lenders (IMF and IFIs) need to seriously consider, that must not only entail addressing its funding requirements in the medium term, but also implement structural reforms necessary to restore confidence on the economy.

One, a special programme jointly designed by the IMF and IFIs that provides sufficient funding (say three times the current programme) for the next three years to sustain estimated current account deficits and debt repayments during such period; or two, initiate a process of major debt restructuring (rescheduling and reprofiling) to stagger the repayments of debt significantly.

Ashokk · Post by **Ashokk** » 23 Feb 2023 21:18

Will look at local public sentiment before taking call on helping crisis-hit Pakistan: Jaishankar

"...if I were to look at any big decision I am making, I will also look at what is the public sentiment. I would have a pulse what do my people feel about it. And I think you know the answer," he added.

"No country is ever going to come out of a difficult situation and become a prosperous power if its basic industry is terrorism ," he said at Asia Economic Dialogue in the national capital organised by the external affairs ministry.

partha · Post by **partha** » 23 Feb 2023 22:27

Ashokk wrote:Will look at local public sentiment before taking call on helping crisis-hit Pakistan: Jaishankar

How will the public sentiment be gauged? Will there be a survey? This is an ambiguous statement. It makes me think that Govt is keeping the option of helping open. I hope it comes with conditions though. Public sentiment can always be manipulated. This statement is different from a categorical no that EAM said in the ANI podcast recently regarding helping Pakistan.

sanjaykumar · Post by **sanjaykumar** » 23 Feb 2023 23:07

There is nothing ambiguous about these statements.

He makes the following points:

India is in a good position to help Pakistan continue as a state. It will never happen.

Cyrano · Post by **Cyrano** » 24 Feb 2023 03:33

Totally dishonest title given to that article, twisting JS statement beyond recognition. No wonder we call it ToIlet here !

Desperation is showing to somehow get India to engage with Pak. Itni khujli kyon ToI bhai? Some naach meri bulbul tujhe paisa milega.... is going on ?