gakakkad wrote:
For a desi Entry level lexus is what you give your kid when he gets x med school or MIT. For an Emirati Sheikh Porsche Cayenne is suitable only for Airport taxi and hardly luxury. I wonder what's threshold to call luxury for Al-Baaki.
Slowly backs away from this thread and especially gakkad so as to ruminate on my life’s choices 
Yes very much so, it is the foreign hand at play. If India had rolled over and given Kashmir to Pakis, then they wouldn't need such an oversized army - only a few generals with many shiny medals to show India its place, and a few major generals to run utilities, factories and railways, that's it. It's all India's fault that they are burdened with a huge army and expensive nukes.chetak wrote:'Powerless' Pakistan suspects 'external hand' behind blackout; U.S. offers help | WatchJUST IN - Pakistan investigating the involvement of a ‘foreign hand’ behind the massive power outage.
Very interesting that <1000cc cars are being labeled "luxury". Here's a list of Indian cars below 1000cc https://www.cardekho.com/new-1000cc+cars; the only ones that can pass off as "luxury" are fully electric, in which case the engine capacity is meaningless.Manish_P wrote: Sirs, the report given in the article mentions
72% were under 1000cc engine capacity. Another 20% were between 1000cc and 1800 cc
BTW the word 'used' was mentioned at the start.
But then again it is Pakistan.. they may really be high end luxury vehicles. Purposely under reported as used small cars to pay less taxes
Nope chetak ji. I am holding onto my hypothesis. And maybe I am too invested in it and desperate for aad aadmi to rise up and lampost the Baki army and politicians.chetak wrote:Neela wrote:
Nope Sirji. The tables are turned I think.All the rabid dogs have started looking inward - and I believe ,inshaallah, have realized the imported rulers of Pak have screwed them. You see, the collapse of everything around them, and the "Modi-doing-development-for-India" can turn even the retards who blame RAW. At some point, it wears out and the rabid dogs want someone to hang from lampost - someone whom they can catch. The dumbest Paki out there can see it for himself - it is their own making and their own leaders & mullahs. You cannot explain inflation blaming RAW. Or Power. Or lack of infra. Or lack of jobs. Or lack of exports. Or lack of education. Or lack of water.
Good days are here and I very hopeful my eyes will feast on a Somalia famine like pics soon. There is a deep deep scar which can never heal - but at least some gratification can be wished.'Powerless' Pakistan suspects 'external hand' behind blackout; U.S. offers help | WatchJUST IN - Pakistan investigating the involvement of a ‘foreign hand’ behind the massive power outage.
relax tanaji...the post was piss opps for paklurk consumption onree.. me a corolla driving dhoti shivering coupon collecting sdre onleeTanaji wrote:gakakkad wrote:
For a desi Entry level lexus is what you give your kid when he gets x med school or MIT. For an Emirati Sheikh Porsche Cayenne is suitable only for Airport taxi and hardly luxury. I wonder what's threshold to call luxury for Al-Baaki.
Neela wrote:Nope chetak ji. I am holding onto my hypothesis. And maybe I am too invested in it and desperate for aad aadmi to rise up and lampost the Baki army and politicians.
See ,the minister *has to* blame a foreign hand to avoid the wrath of a potentially restless populace. He doesnt have an option and has to save his skin (maybe even literally).
I firmly believe the façade is wearing out and all Pakis are beginning to see through. If you have one disastrous event , like the grid breakdown, then you can sell it as a anomaly. But the complete collapse of everything around ordinary Pakis ?
Jobs none. Water scarce . Electricity - few hours a day. Atta - pricey. vegetables - pricey. chicken - expensive - Everything is out of reach. It is bound to make them see through and seek *justice* in typical jihadi mob style.
The simmering cauldron of an unbearable shitole needs a vent.
yessir. The article states that the 2000 vehicles, only 20 were electric!yensoy wrote:Very interesting that <1000cc cars are being labeled "luxury". Here's a list of Indian cars below 1000cc https://www.cardekho.com/new-1000cc+cars; the only ones that can pass off as "luxury" are fully electric, in which case the engine capacity is meaningless.Manish_P wrote: Sirs, the report given in the article mentions
72% were under 1000cc engine capacity. Another 20% were between 1000cc and 1800 cc
BTW the word 'used' was mentioned at the start.
But then again it is Pakistan.. they may really be high end luxury vehicles. Purposely under reported as used small cars to pay less taxes
I guess it's a double luxury to have an electric car in Pak these days.
and these are the electric cars that the pakis importedManish_P wrote:yessir. The article states that the 2000 vehicles, only 20 were electric!yensoy wrote: Very interesting that <1000cc cars are being labeled "luxury". Here's a list of Indian cars below 1000cc https://www.cardekho.com/new-1000cc+cars; the only ones that can pass off as "luxury" are fully electric, in which case the engine capacity is meaningless.
I guess it's a double luxury to have an electric car in Pak these days.
However..KARACHI: The currency dealers have unanimously decided to stop artificially keeping rupee overvalued against US dollar in open market and let the rupee-dollar exchange rate depreciate to its actual value.
Speculations suggest rupee could gradually devalue to the level of black currency market in a couple of days.
The domestic currency was available at Rs250-260 per US dollar in black market these days while the dealers had artificially maintained rupee-dollar exchange at Rs238 till Tuesday.
The imposition of a cap led to the emergence of a lucrative illegal market. Remittances have been decreasing as more people use hawala and hundi, which offer better rates than the official rate. As more people are transferring money using illegal means, artificially controlling the exchange rate has resulted in a significant disparity between the dollar interbank rate and open market rate, which is impacting official flows.
Faisal Mamsa, CEO of Tresmark
“The grey market is flourishing because demand is outstripping supply. Also, there are other reasons why people prefer the hawala system. In our opinion the impact will be negligible,” said Faisal Mamsa, CEO of Tresmark.
Mamsa explained that similar situations could be seen in Egypt and Bangladesh. “Egypt’s local currency depreciated by 22 percent, but the gap with the informal market remained the same. In Bangladesh, remittances have dropped at almost the same pace as in Pakistan.”
KARACHI: In a poor economic situation, where the country is facing a shortage of dollars, import restrictions, difficulties in opening Letters of Credit (LCs) and scarcity of raw material, the industrial wheel has become virtually paralysed.
Traders and industrialists are becoming increasingly worried as containers have been stuck at port for weeks, which has stymied the supply of key inputs to many industrial concerns. Production of goods at an estimated 30% of factories has come to a halt.
Businessmen fear that if the government does not bring the situation under control quickly, trade and industrial activities will grind to a complete halt within the next 45 to 60 days. Apart from triggering a massive wave of unemployment, this will also send inflation to unprecedented heights.
The biggest fear on the cards right now is the looming food shortage and the resultant public unrest. Calling the release of containers ‘temporary relief’, the business community is insisting that the government come up with its next course of action.
They are of the view that the government should leave the rupee value to market forces so that exports and remittances can increase and the dollar crisis eases.
The import slowdown has created a scarcity of raw material for many goods manufacturers and even those who purchased the necessary inputs earlier and have stock are quickly running out. All major sectors, including food, textile, pharmaceuticals, chemical, machinery, steel, plastic and automobile are suffering from the decline in production.
Entire post was inimitably articulated, Chetak jichetak wrote:...
Neela ji,
We so badly need someone who is well versed in urdu and is able to monitor the udru press both in India and pakilund, and post the distilled gems of their calcified desert wisdom....
But every Baki is a GhaziThe rupee depreciated against the dollar on Wednesday after the Exchange Companies Association of Pakistan (Ecap) removed an unofficial cap on the exchange rate.
According to a notice issued by Ecap Chairman Malik Bostan’s office, the USD was being traded at Rs 243 in the open market at 11am, falling 0.93 percent from yesterday’s close of 240.75. It was being traded at Rs 231.5 in the interbank market at the same time.
He said talks between State Bank of Pakistan (SBP) Deputy Governor Inayat Hussain and Ecap representatives were successful. “The State Bank accepted all our demands including removing the cap.” He vowed to bring the USD-PKR exchange rate in the open market to the ‘actual’ rate so the grey market could be abolished.
Aditya ji there are many markets in the true open-market ekonomy of Jihadistan. Maybe the 270-280 rate is being quoted in the not-so-open grey (Hawala) market..Aditya_V wrote:But isn't it 270-280 in the open market, anyways 244 is an important mark, its 3 Ghazi Paki Ruppees =1 Kafir Ruppee
For members who are not familiar with this luxury automobile, pesh-e-kidmat -The new price of Alto VX, VXR, VXR AGS and AGS has been enhanced to Rs 1.859 million, Rs 2.156 m, Rs 2.310 m and Rs 2.423 m as compared to Rs 1.699m, Rs 1.976m, Rs 2.120m and Rs 2.223m, up by Rs 160,000-200,000.
In yet another blow for Pakistan, the International Monetary Fund (IMF) has refused to even visit the cash-strapped country and instead placed new conditions to extend further help.
As part of its recommendations, IMF has asked Pakistan to levy new taxes and pass a mini budget for 200 million — steps that could raise the inflation rate and put more burden on the common man. Inflation in Pakistan is currently at 25 percentage points and any steps that may increase the rate could spell political doom in the country.
The international body has said it will visit Pakistan for the ninth review as soon as the conditions are met. The next instalment of the loan also depends on the conditions.
The tottering economy also spells trouble for the political class as the mini budget and further taxation could anger the public. This also means bad news for the Imran Khan-led Pakistan Tehreek-e-Insaf (PTI) as the net government would have to deal with the ramifications of the IMF cold shoulder.
So only 9 billion worth of external debt out of 23 billion was paid and settled during this year so far. That is 15 billion still remaining as debt in its books. Any funding or loan they will be receiving now will be on top of this amount and there will be other loans falling due for payment in the next fiscal year.Addressing a press conference after the Monetary Policy Committee (MPC) on Monday at SBP head office, Governor SBP informed that cumulative financing requirements for this fiscal year were $33 billion including $10 billion of current account deficit and $ 23 billion of external debt. The country has successfully settled principal repayments of $15 billion so far during the current fiscal year. Out of this amount $9 billion were paid and $6 billion were rollover, he informed.
Remaining $8 billion needs to be settled in the next five months of this fiscal year. Out of this amount $ 3 billion will be rolled over and some $2.2 billion will be paid and reverted to Pakistan. As a Result, Pakistan has to pay external debt worth $3 billion by the end of June 2023 and this amount will also be managed successfully, he informed.
ISLAMABAD: The National Austerity Committee (NAC) is considering different proposals including slashing down the salaries of government employees by 10 percent across the board, cutting down expenditures of ministries/divisions by 15 percent, reducing the number of federal ministers, ministers of state, advisers from 78 to 30 only while the remaining should work on pro bono basis.
The NAC also considered a proposal to freeze discretionary funds of intelligence agencies, including ISI and IB. The committee considered a proposal to reduce defence expenditures but the secretary defence replied that it might not be possible in the wake of higher inflation and depreciation in exchange rates. However, the committee might consider rationalising non-combat expenditures.
CalvinH wrote:Will this be applicable to Pakistan Army too? They got a raise of 20% at the height of COVID for helping the nation.
Nepal Correspondence
@NepCorres
A shopkeeper was shot dead in #Karachi by 2 men who tried to loot food grains from his shop. Heavy shortage of Food & Water amid #ElectricityShutDown reported in all major cities of #Pakistan. People have started killing each other due to starvation. The administration has Failed
Pakistan this week made a payment of $500 million to a Chinese commercial bank that has now pulled down the reserves to a level that cannot be described comfortable by any standards.
Pakistan’s monthly import bill is around $5.3 billion and the reserves were below $3.3 billion on Tuesday. Pakistan is expecting some disbursements by Chinese financial institutions soon, as it also awaits the $2 billion Saudi cash deposit “much before end of January”.
The rupee dipped by 1.2 per cent to 243 against the dollar on Wednesday after foreign exchange companies lifted a price cap, which they said caused “artificial” distortions and created a black market, where the US currency was selling at higher rates.
However, the rupee’s closing value was far higher compared to Rs 252.5 in the early open-market trade on Wednesday after central bank’s intervention. On Tuesday, the dollar sold at Rs 240.75 in the open market
In the interbank market, the rupee depreciated 0.21pc against the dollar to close at Rs 230.89.
ECAP President Malik Bostan said the central bank had given an assurance at a meeting that commercial banks would be instructed to supply exchange companies with dollars within a week.
“We’re facing a shortage. We do not have physical dollars,” Mr Bostan said. “People aren’t selling dollars. They’re only buying.” He said removing the cap would help curb black market trade, though it would take time to bridge the gap.
“The black-market rate is still stickying in the range of 260-270. The decision of exchange companies has not had any impact as such,” said Fahad Rauf, head of research at Ismail Iqbal Securities.
.
Islamabad: With a mere $4.5 billion in its kitty – $3 billion of which belongs to Saudi Arabia – Pakistan is struggling to keep its economy going.
The spiraling economic crisis and shortage of foreign currency reserves had led to an acute shortage of food, medicines and other essential items in Pakistan.
To make matters worse, large parts of Pakistan have been suffering due to chronic shortage of electricity, resulting in huge losses to industries and subsequent loss of jobs for millions of people.
While several economists have claimed that Pakistan has already become a bankrupt nation, a mere few days or weeks at the most are left for an imminent disaster and an official declaration of the same unless some sort of miracle takes place.
The Pakistan economic crisis is going from bad to worse. The forex reserves at the State Bank of Pakistan (SBP) has touched its lowest ever level of $4.343 billion, which is just enough to keep the Pakistan economy afloat for two weeks.
The alarmingly low level of forex reserves has led to severe inflation in the food prices all over Pakistan which has left millions of people struggling to survive without the required food and energy resources.
According to a report by the ‘Financial Post’, this dip in Pakistan’s forex reserves came after a loan of $1 billion was repaid by the South Asian country to a couple of banks based in the United Arab Emirates (UAE).
The foreign remittances to Pakistan have also declined from $15.8 billion to $14.1 billion.
https://hr.economictimes.indiatimes.com ... n/97326147Pak economic crisis: 10% cut in govt employees' salary under consideration
"under consideration" - not urgent at all. My suggestion to Shahbaz Shariff is to form a 5 member committee to study the proposal after diamond jubilee award ceremony is done.chetak wrote:https://hr.economictimes.indiatimes.com ... n/97326147Pak economic crisis: 10% cut in govt employees' salary under consideration
Neela wrote:
Nope chetak ji. I am holding onto my hypothesis. And maybe I am too invested in it and desperate for aad aadmi to rise up and lampost the Baki army and politicians.
See ,the minister *has to* blame a foreign hand to avoid the wrath of a potentially restless populace. He doesnt have an option and has to save his skin (maybe even literally).
I firmly believe the façade is wearing out and all Pakis are beginning to see through. If you have one disastrous event , like the grid breakdown, then you can sell it as a anomaly. But the complete collapse of everything around ordinary Pakis ?
Jobs none. Water scarce . Electricity - few hours a day. Atta - pricey. vegetables - pricey. chicken - expensive - Everything is out of reach. It is bound to make them see through and seek *justice* in typical jihadi mob style.
The simmering cauldron of an unbearable shitole needs a vent.
Status update:Neela wrote:
Institutional collapse-> Hunger and non availability of essentials -> Aam aadmi hitting the streets-> Riots -> gated comunities of Paki rich attack -> Cantonments attack-> Paki Army attacks
We are getting there. Level 1 is nearing completion.
https://zzz.ft.com/content/560319d3-df5 ... 4bea09eac9
Pakistan’s economy nears collapse as foreign currency reserves plunge
“Every day matters now. It’s simply not clear what the way out is,” said Abid Hasan, a former adviser to the World Bank. “Even if they get a billion [dollars] or two to roll over . . . things are so bad that it’s going to be just a Band-Aid at best.”
https://tribune.com.pk/story/2397699/ho ... on-a-swamp
How long can Pakistan survive on a swamp?
Today, every Pakistani is wondering whether Pakistan will survive. Yes, it will, until those living in the swamps, the 84%, are pulled out of the slumbers of ignorance.
https://www.aljazeera.com/opinions/2023 ... -not-funny
Pakistan’s dark age: The joke’s on us, and it’s no longer funny
With everything collapsing in the country, dark humour is the Pakistani’s only respite. But even that’s wearing thin
But our smiles are increasingly strained, and the jokes are told through clenched jaws; our resilience is depleting faster than the government’s political capital. That is because, time and again, the system shows us that it does not care for us, that the game is rigged in favour of a rapacious elite that continues importing luxury cars when essential medical supplies rot at the port, awaiting clearance.
Neela wrote:Tik tok tik tok
The idea of Pakistan
Institutional collapse-> Hunger and non availability of essentials -> Aam aadmi hitting the streets-> Riots -> gated comunities of Paki rich attack -> Cantonments attack-> Paki Army attacks
We are getting there. Level 1 is nearing completion.
It is a nine day visit. So most probably a working/negotiating visit. Pakistan will likely get bailed out.An International Monetary Fund mission will visit Pakistan later this month to discuss the stalled ninth review of the country's current funding programme, the lender's resident representative said on Thursday, with the cash-strapped nation's economy in turmoil.
At the request of the authorities, an in-person Fund mission is scheduled to visit Islamabad January 31st – February 9th to continue the discussions under the ninth EFF review," Esther Perez Ruiz said in a message to Reuters.
Manish_P wrote:The mullahs of jihadistan, unlike those in the Gulf, have been very disappointing. Where are the ayatollah, the al-Sadr, Omar equivalents who roused the faithfuls in their countries.
Not a murmur from them except to meekly issue fatwas supporting the Faujis.
I am disappointedAnujan wrote:Pakistan will likely get bailed out.
, what will IMF gain by bailng them out ?
Very interesting matrix indeed. Some of the big debtors have something of value to offer - Argentina, Ecuador, Colombia, Angola & Nigeria are rich in resources including energy, Ukraine is a breadbasket. Egypt I guess is strategic. What does Pak have to offer?Avinandan wrote:I am disappointedAnujan wrote:Pakistan will likely get bailed out.
On another note, I was astonished that there are far bigger debtors than Pakistan at IMF.
https://www.fdiintelligence.com/content ... tors-81405
Boys played very well on the first day and put up 255. I hope they can hit the 290 in a week.Pakistani rupee plunged to a record low of Rs255.43 against the dollar in the interbank market on Thursday, sliding Rs24.54 or 9.61 per cent from yesterday’s close, after the removal of an unofficial price cap on the exchange rate.
Positive news! Pakistani gold much more valuable than Indian gold and people are willing to pay a lot more rupees for Pakistani gold than Indian golddomestic gold prices hit an all-time high of Rs195,500 per tola after gaining Rs4,900 on Thursday.