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Dilbu wrote:Do not phyrr your AKs yet biraders. TSP is meeting with IMF tomorrow and it is likely that they will get another lease of life. However it is just kicking the can down the road a little bit further and things are getting out of hand with each passing year.
There is a reason that Bajwa and co were desperate to put in place a ceasefire along the LOC. An active LOC which forces them to mobilize will be a fast ticket to bankruptcy for them.krithivas wrote:^^ The best diversion is scheme a green terror attack within India or become hyperactive at the LOC. What are the odds?
Frankly and not relevant to the dhaga but we would be in the same boat if not for the present government in India. COVID-19 induced conditions, UKR-RUS war, supply side inflation and US tightening the money supply is the perfect storm for countries with weak economic fundamentals.Cyrano wrote:What a bankrupt neighbourhood we live in - Pk, SL, NP, BD !
The big question is - Will it work? Also, need fuel for plane or rocket to deliver the bum.Vips wrote:Porkis will say since it does not have any resources to defend itself even in a short term war it will use its atom bomb as a minimum deterrence against its enemies.
The Indian government should have gone for the jugular and not accepted a ceasefire. It is a fallacy to think of a 'stable and prosperous' Pakistan is in India's interest A neutered, shattered and balkanized Pakistan is in India's interest. A landlocked Pakistan will not be able to create as much mischief as it does currently.Bart S wrote:There is a reason that Bajwa and co were desperate to put in place a ceasefire along the LOC. An active LOC which forces them to mobilize will be a fast ticket to bankruptcy for them.krithivas wrote:^^ The best diversion is scheme a green terror attack within India or become hyperactive at the LOC. What are the odds?
Pakis have already use this excuse to beg.Vips wrote:Porkis will say since it does not have any resources to defend itself even in a short term war it will use its atom bomb as a minimum deterrence against its enemies.
KARACHI: The rupee slumped to a new record low on Tuesday, breaching the level of 199 to the dollar in the open market on prevailing uncertainty on the resumption of the International Monetary Fund (IMF) bailout programme. The rupee was selling at 199.50 against the dollar in the kerb dealings, while some money changers even quoted it at 200. However, the rates provided by the Exchange Companies Association of Pakistan (ECAP) showed that the rupee closed at 198 versus the greenback.
It was more likely a bribe to stop.26/11 type attacks and major bombings in Indian cities and obviously routed through SL and Nepal. No wonder leaders in all 3 nations along with BIF were pissed off with Demo.Rsatchi wrote:^^
A noob question: Did Chiddu and rest of the Paki-pasand Paki's deliberately allow printing of Indian Currencies in Paxatan to keep them afloat
Looks like since 'Demonised Demonetisation' Pak Rupee is in free fall and Paxatan Economy is going South!!
• Under-privileged groups, lower-middle class most susceptible to inflationary pressures
• One rupee rise in dollar price increases foreign debt by around Rs1bn each time
• Manufacturers complain each hike decreases their products’ competitiveness in global market
The debt servicing burden has gone up by Rs3,700 billion due to the 19 per cent devaluation of rupee during the current fiscal year.
Experts say that every time the dollar goes up by a rupee, the country’s debt rises by around Rs1 billion; the total foreign debt is estimated to be around $130.6 billion.
In addition, an appreciated dollar raises costs of production, which will have an adverse impact on the competitiveness of the country’s products in the international market.
“Pakistan is a trading economy and we roughly import 75pc of our energy needs. The country also imports major raw materials to produce finished foods. Currency depreciation will only lead towards higher energy costs and higher costs of industrial production, which will have a direct inflationary impact on the overall economy,” said Tahir Abbas, head of research at Arif Habib Limited.
Exporter Javed Bilwani, who is also chairman of the Pakistan Apparel Forum, told Dawn the situation is critical for the economy, since most exporters produce their goods nearly 50pc imported materials.
In view of the prevailing economic uncertainty, the Indus Motor Company (IMC) has again suspended advance booking of all vehicles from May 18, 2022 until further notice.
Apologising to their consumers, IMC said deliveries for already-booked vehicles would continue as per delivery schedule. However, other assemblers are yet to follow the suit.
IMC and Lucky Motor Corporation (LMC) had earlier suspended the advance booking of vehicles in the first week of April 2022 due to similar concerns, but the process resumed after a 10 to 15-day break.
Rizvi said the increase in vehicles prices would severely affect car sales in future. Car sales numbers had been showing impressive growth, but “new bookings are facing a sharp decline after the huge hike in interest rates and rising vehicle prices.
He also predicted that auto financing may reach zero in the coming months, adding that the impact of all these factors would be more visible on vehicles sales in 2023.
Association of Builders and Developers (ABAD) Chairman Mohsin Sheikhani said the massive fall in the value of the rupee has sent prices of construction materials soaring to an alarming level, hiking up the construction cost of an apartment to Rs 5,500-6,000 per sq ft from Rs 3,000 some three years ago.
“How can builders work on new projects when steel bars cost Rs215,000-220,000 per tonne and cement is at Rs 850-900 per 50kg bag?” He added that construction on old projects in Punjab and Karachi was continuing while new projects were being shelved.
Sheikhani said that in this environment, the number of people willing to buy flats and properties had also seen a massive decline.
The government began talks with the International Monetary Fund (IMF) on Wednesday over the release of crucial funds, a process slowed by concerns about the pace of economic reforms in the country.
Pakistan has repeatedly sought international support for its economy, which has been hit by crippling national debt, galloping inflation and a plummeting rupee.
The talks are being held in the Qatari capital Doha, the Ministry of Finance said, and are expected to continue into next week.
A major sticking point is likely to be over costly subsidies — notably for fuel and electricity — and the finance minister said he wants the two sides to “find a middle ground”.
“The government will try to convince the IMF that for political stability purposes it is important to keep at least some of the subsidies,” said economist Shahrukh Wani.
“The IMF will possibly, rightly, say that these are unsustainable and they should be rolled back to make the trade and budget deficit manageable,” he added.
A $6 billion IMF bailout package signed by former prime minister Imran Khan in 2019 has never been fully implemented because his government reneged on agreements to cut or end some subsidies and to improve revenue and tax collection.
Islamabad has so far received $3bn, with the programme due to end later this year.
Officials are seeking an extension to the programme through to June 2023, as well as the release of the next tranche of $1bn.
That will happen eventually anyway whether it is now or a few weeks from now. But it is going to be fun regardless. IK has left behind the perfect landmine in those fuel subsidies. Chhota badmash is running around like a headless chicken now. If he removes the subsidies, prices will skyrocket and the abduls will blame him. If he doesn't, and they don't get bailed out in time the subsequent economic pain will again be blamed on him. In either case, his chances of winning the next election without interference by the uniformed jihadis is dim. If they don't interfere and IK comes back, he will be out for bloody revenge. If they do interfere and IK loses, PTI youthiyas will declare the election results a YYY conspiracy and brand chhota badmash a RAW agent and there will be chaos on the streets. The whole of next year promises to be popcorn worthy. Just hoping the pakis don't disappoint.Dilbu wrote:Do not phyrr your AKs yet biraders. TSP is meeting with IMF tomorrow and it is likely that they will get another lease of life. However it is just kicking the can down the road a little bit further and things are getting out of hand with each passing year.
ISLAMABAD: Pakistan is set to move swiftly on reducing massive fuel and electricity subsidies and banning about 30 luxury imports to contain fiscal and trade deficits under a commitment given to the International Monetary Fund (IMF) to secure an economic bailout.
On the first day of the formal talks with the IMF mission led by Nathan Porter in Doha, Finance Minister Miftah Ismail virtually leading the country’s economic team cleared uncertainty on two counts — that the new coalition government would stay in office and take tough decisions{BRF is ahead of the curve in predicting this one}, undertake reforms committed in the original fund programme and complete structural benchmarks.
These sources said the government would be revising fuel and energy prices within days and impose a complete ban, instead of increasing duties, on a total of about 30 luxury items major among them vehicles and mobile phones besides some other no-so-big items to contain imports and thus external account. These announcements would be made shortly to progress talks towards the successful completion of the revised programme.
They have made some kind of agreement with unkil and are hopeful that unkil will ask IMF to go easy with its munna now. What has unkil asked for in return?KARACHI: With the uncertainty over the revival of the International Monetary Fund (IMF) loan programme amid increasing political pressure on the government to announce snap polls, the Pakistani rupee slumped to a new historic low in the interbank market.
With a fresh decline of Rs1.81, or 0.91%, the local currency was trading at Rs200.20 against the greenback at 10:13am during intraday trade on Thursday, Tresmark reported.
“This time the IMF’s attitude towards the Pakistani delegation will be different because of the US. Pakistan now needs to focus on convincing them [IMF mission] that the country will increase revenues even if they decide against removing subsidies on petroleum products,” he maintained.
A day earlier, a US State Department spokesperson promised Pakistan strong US support for its efforts to restore the economy shortly after FM Bilawal Bhutto-Zardari arrived in New York for a series of meetings including a bilateral one with US Secretary of State Antony Blinken.
This is absolutely a death wish for any economy. AFAIK, we are still paying for the petroleum subsidies handed out by Congressi govt between 2009 to 2014. Only shale saved us from a $250 oil. This time, the only way to bring down prices is a deep depression/recession. Or let Venezuela and Iran produce for short term relief.“This time the IMF’s attitude towards the Pakistani delegation will be different because of the US. Pakistan now needs to focus on convincing them [IMF mission] that the country will increase revenues even if they decide against removing subsidies on petroleum products,” he maintained.
A day earlier, a US State Department spokesperson promised Pakistan strong US support for its efforts to restore the economy shortly after FM Bilawal Bhutto-Zardari arrived in New York for a series of meetings including a bilateral one with US Secretary of State Antony Blinken.
LAHORE: The parity of the Pakistani rupee versus the American dollar has worsened more than 4,100 percent from just Rs4.76 exactly 50 years ago, on May 1972, to a whopping Rs200 on May 18, 2022, hence compounding country’s economic miseries, research and calculations showed. On the contrary, in neighboring India, the country’s rupee deteriorated 898.59 percent during the last half a century under review from Indian Rs7.59 in May 1972 to Indian Rs77.59 on May 18, 2022.
AoA. Standing ovation for the boiz.
) 
Edit : Found this link on the bird app https://www.pbs.gov.pk/sites/default/fi ... 020-21.txt
Intresting perspective on what these guys import (majority of it is not banned ofcourse)
Thakur_B wrote:AoA. Standing ovation for the boiz.
KARACHI: The Pakistani rupee depreciated further against the US dollar in the interbank market on Friday and was being traded at Rs201 amid concerns over the pace of its fall and a lack of support from the central bank
According to the State Bank of Pakistan (SBP), the rupee, for the first time in the history of Pakistan, closed at Rs200 on Thursday.
ISLAMABAD: In a nerve-wracking development, the incumbent government, after much deliberations, has finally agreed to implement most of the demands of the International Monetary Fund (IMF), raising the possibility of the country “coming back on track economically” and receiving the next IMF loan tranche.
Pakistani authorities have agreed to cut subsidies and the timeframe for privatisation.
Just conducting Balakot 2 would have taken the PKR to 400 in a few days and the Paki sena to scrap the bottom of the putrid pool of paki economy. The Paki sena parallel economy would have also been severely dented. This was the right time to put pressure in the LoC. Guess we will be waiting for them to restart hostilities when things start getting better for themRCase wrote:Since the Paki Fauj is the biggest consumer of the budget, can the IMF put requirements that Pakistan should slash its defense spending for more bums, missiles and aircraft. Despite their economy tanking, they acquired the J-20 from iron-brother. Where is the money coming from?
https://tradestat.commerce.gov.in/eidb/default.aspShankas wrote:Edit : Found this link on the bird app https://www.pbs.gov.pk/sites/default/fi ... 020-21.txt
Intresting perspective on what these guys import (majority of it is not banned ofcourse)
athulya ji and others
Do you know where I can find a similar link for India.
I am looking for a list of products that India imports
Thank you.