Aditya_V wrote:Pakis must use up thier cattle for food, export gas, wood, Coal etc which not wasting it by generating electricity for the Paki masses. Thier vehicles should be exported as scrap steel and they can use older transport systems, which do not consume any petroleum products.
Chetak saar, Pesh hai new luxury version launched for the status conscious bakis
And of course they have the green (climate-friendly) Ola-a-Uber version as well
Re: Pakistani Economic Stress Watch
Posted: 14 Feb 2023 18:54
by Deans
RajaRudra wrote:
Yeah, Aman ka tamasha times. Used to mess around the comments section in all colors. A year before, they asked for Phone number and Place to comment verification. I gave their office phone number- taken from the same website.
I once did the same and gave the number of Corps HQ Lahore ! I have a gmail account in a Muslim lady's name. Use a VPN so IP address is not
identified.
Re: Pakistani Economic Stress Watch
Posted: 14 Feb 2023 18:56
by Deans
Manish_P wrote:
chetak wrote:
Chetak saar, Pesh hai new luxury version launched for the status conscious bakis
And of course they have the green (climate-friendly) Ola-a-Uber version as well
They have eaten the cattle and were exporting Donkeys to China. They are now in a dilemma - export donkeys and earn $, or lose all forms of
public transport.
Re: Pakistani Economic Stress Watch
Posted: 14 Feb 2023 19:29
by Manish_P
Deans wrote:
Manish_P wrote:
They have eaten the cattle and were exporting Donkeys to China. They are now in a dilemma - export donkeys and earn $, or lose all forms of
public transport.
Oh. Well i suppose the 2 legged ones will have to do it then. Job conditions being as they are..
It's back to the 40s for them.
And to pour oil on the flames.. sorry they have shortage. Let's say salt on the wounds news, is Air India has ordered 250 Airbus planes... and will probably order about the same numbers of Boeings
Re: Pakistani Economic Stress Watch
Posted: 14 Feb 2023 21:24
by Manish_P
Dar should schedule another stern talking with them
Global rating agency Fitch on Tuesday downgraded Pakistan’s long-term foreign currency issuer default rating (IDR) to ‘CCC-’ from ‘CCC+’, citing further worsening in liquidity and policy risks along with pressure on foreign exchange reserves.
The drop comes four months after Fitch revised down the ranking to CCC+.
The agency did not assign any outlook since typically it does not assign outlooks to sovereigns with a rating of ‘CCC+’ or below.
When asked if Pakistan was close to clinching a deal with the lender, a senior Pakistani government figure told Dawn: “Not that I am aware of. This time, they want to make sure that we do not renege on our pledges.[/quote]”
Last week Dar said Allah will help Bakis. Nothing happened
This week he read from Quran during negotiations but imf team just took a coffee break.
Next steps is to wear a suicide vest and come to negotiating table….that’ll teach them
Re: Pakistani Economic Stress Watch
Posted: 15 Feb 2023 10:31
by Neela
Vips wrote:Porki Toilet Paper still has a rating?
Have an idea.
Instead of rupee, pakis can trade in Qurans. Now who will dare downgrade the Quran?
Patenting this idea before dirty brown Hindoos do
Re: Pakistani Economic Stress Watch
Posted: 15 Feb 2023 10:48
by vimal
Why do they even use the kuffar Rupee? Aren’t they supposed to use something like dinar or dirham etc
ISLAMABAD: The government on Tuesday increased the general sales tax (GST) rate to 18% and drastically enhanced taxes on cigarettes with immediate effect to collect Rs115 billion out of the planned Rs170 billion mini-budget.
The federal cabinet took the step to implement another condition set by the International Monetary Fund (IMF) for the revival of the derailed $6.5 billion programme after President Arif Alvi refused to promulgate an ordinance sent by the government.
But the global lender will accept only permanent tax measures, which the government will ensure by getting the nod of parliament.
ISLAMABAD: The prices of poultry items have increased by 30 per cent in the twin cities of Islamabad and Rawalpindi during the last week, creating further hardships for the inflation-stricken public. According to a market survey conducted by this scribe on Monday, a 40 per cent increase was witnessed in the price of chicken during the last few months.
Whereas, as much as a 30 per cent increase was recorded in the price of poultry eggs during the same period.
According to the survey, the price of live chicken in the twin cities is between Rs415 and Rs420 per kg. Similarly, chicken meat is sold at Rs690 to Rs700 per kg in the open market of both cities.
The survey also suggested that poultry eggs are being sold at Rs282 to Rs290 per dozen.
KARACHI: The country is grappling with a major shortage of steel rebars as a result of the government’s failure to open Letters of Credit (LCs) for raw material required by the industry. Matters have been further exacerbated by the recent announcement of a rise in energy prices and an increase in the General Sales Tax (GST) as part of the International Monetary Fund’s (IMF) conditions.
The steel industry has declared that it is facing a major crisis as it struggles to stay afloat in the face of a devalued currency, rampant inflation and shortage of raw material. Despite its critical importance to the country’s economy, the industry is grappling with numerous challenges that are taking a heavy toll on its operations.
Dollar smuggling pushes rupee to 276.28
Reports suggest that the authorities concerned have failed to control the smuggling of US dollars to Afghanistan and this has continued to drain Pakistan’s foreign exchange reserves. Currently, Kabul is relying heavily on smuggled currency to survive in the world. Surprisingly, however, the Afghani currency has managed to appreciate as compared to its Pakistani counterpar
“Given the significant deterioration witnessed in the external reserves position and repayments of over $2 billion in commercial debt previously anticipated to be rolled over, we now expect the rupee-dollar parity to close at Rs275/$ by the end of June 2023 and Rs290/$ by the end of December 2023,” it added.
Re: Pakistani Economic Stress Watch
Posted: 15 Feb 2023 12:31
by RajaRudra
May be time to see real action and break the Pakistan into pieces. More than the physical country its real need to break the inner Pakistaniyat in the mind both there and here.
ISLAMABAD: Prices of petroleum, oil and lubricants could surge by over Rs32/liter from tomorrow (February 16) mainly on account of the US dollar exchange rate that now stands at Rs271.82. Though free on board Platt prices have fallen considerably as compared to last fortnight’s pricing. Petroleum, oil and lubricants prices were closed at US dollar/Rs236.40 which stands at at 271.82 for the next fortnight.
According to the official and industrial sources, Mogas price would likely go up 12.8 percent/litre or by Rs32.07 to stand at Rs281.87 from Rs249.8/litre. Similarly, the price of diesel could rise 12.5 percent or by Rs32.84 to stand at Rs295.64 from Rs262.8/litre previously.
Dollar smuggling pushes rupee to 276.28
Reports suggest that the authorities concerned have failed to control the smuggling of US dollars to Afghanistan and this has continued to drain Pakistan’s foreign exchange reserves. Currently, Kabul is relying heavily on smuggled currency to survive in the world. Surprisingly, however, the Afghani currency has managed to appreciate as compared to its Pakistani counterpar
I don't think it matters what is INR:PKR anymore. We now need to track AFN:PKR from now on.
So yes, Afghani is getting stronger compared to Baki rupee
Re: Pakistani Economic Stress Watch
Posted: 15 Feb 2023 14:24
by Manish_P
Neela wrote:
Vips wrote:Porki Toilet Paper still has a rating?
Have an idea.
Instead of rupee, pakis can trade in Qurans. Now who will dare downgrade the Quran?
Patenting this idea before dirty brown Hindoos do
You, sir, are a genius.
No non-ummah agencies/goverments will dare. The ummah components only make noises if some kufr or infidel does it, other wise they are happy to war with each other, blow up each others mosques and things.
vimal wrote:
Why do they even use the kuffar Rupee? Aren’t they supposed to use something like dinar or dirham etc
yessir, in the past there were suggestions like 'Djinnahr'. Contains everything from Dinar, Din, Dar, Jinns, Jinaah,... now if only some one can put it across to the Baki high command
Enchandee compliant headline - 'Pakistan leads the way in efforts to bring down lung cancer'
While exercising its administrative authority, the federal cabinet increased the GST rate by 1% to 18% and also enhanced the federal excise duty (FED) rates on cigarettes to give effect to Rs 115 billion new taxes from midnight, Finance Minister Ishaq Dar told The Express Tribune after the cabinet meeting.
It is for the first time ever, the government made a real dent to the tobacco sector by massively increasing the taxes on cigarettes.
The Federal Board of Revenue (FBR) notified the FED increase on expensive brands from Rs 6.5 per cigarette to Rs 16.5 – an increase of 153%. For less expensive brands, per stick increase is from Rs 2.55 to Rs 5.05 – an increase of 98%.
Noob question (as i am a non-smoker), can the bakis now switch to smoking weed or grass. I have heard it is quite popular & fashionable in the west..
Re: Pakistani Economic Stress Watch
Posted: 15 Feb 2023 16:53
by mody
The RAPE class still doesn't seem to be hurting too much in Pakistan. The recent news about the block buster opening of the Tim Hortons outlet in Lahore shows that the RAPE class is still comfortably insulated. Its good actually as it further fuel the class divide angst.
From the article:
"Higher prices don't really matter for the class of people coming here," Ahmad Javed, a medical student who used to go to Tim Hortons while he was living in Canada, told Reuters as he queued up.
"Rich people in Pakistan are getting richer, the poor are becoming poorer while the middle class is struggling."
According to its online menu, a small brewed coffee costs 350 rupees ($1.30), while a large flavoured coffee is twice as much. By comparison, the average government-mandated minimum wage is 25,000 rupees ($94) a month.
For students such as Pareeshay Khan, the brand's social media traction trumps the cost of the coffee. "I'm here to taste the coffee that's the top social media trend. I don't know about the price, nor do I care."
Midnight offensive in Pakiland used to mean something else. Now it's about increasing sales tax!
Re: Pakistani Economic Stress Watch
Posted: 15 Feb 2023 23:10
by MeshaVishwas
Suzuki Sold Only 44 Altos Last Month
The ruling car assemblers in Pakistan, dubbed Pak Suzuki, seem dead after PAMA (Pakistan Automotive Manufacturers Association) narrated a surprising slump in the company’s sales charts. As per the report, Pakistan Suzuki Motor Company (PSMC) sold only 44 Altos in January – a historic low since its inception.
Surprisingly, the company all over sales also observed a record low – declined by 74% selling 2,946 cars last month, contra 11,342 cars in December. Mind you, Suzuki used to sell around 5,000 units per month for the previous 2 years.
Suzuki’s fellow Japanese companies, Toyota Indus Motor, and Honda Atlas, also reported a decrease in their sales, but Suzuki surpassed them all. Suffice it to say, PSMC came as the prime victim of the recent import curbs, no inventory, shortage of raw materials, and price hikes.
Suzuki Jan’23 Sales Pakistan Suzuki Motor Company sold 44 units of Alto, 534 units of Suzuki Cultus, 671 units of Suzuki Wagon R, 504 units of Suzuki Swift, 556 units of Suzuki Bolan, and 628 units of Suzuki Ravi.
Car Sales In Pakistan Dropped by 65%
Concerning the Pakistani auto industry, the prevailing economic havoc has broken all the records – made a considerable dent. Even COVID-19 has not damaged as much as the recent fuss. Consequently, car sales observed a record 31-month slump in Pakistan – dropping by 65% (year-on-year decline).
Pakistan Automotive Manufacturers Association (PAMA) has reported a month-on-month (MoM) decline of 36% selling 10,867 units in January compared to 17,012 in December 2022. Whilst passenger car sales decreased by 56%, sold 6,021 vehicles last month against 13,780 cars in Dec’22.
ISLAMABAD: The government on Tuesday increased the general sales tax (GST) rate to 18% and drastically enhanced taxes on cigarettes with immediate effect to collect Rs115 billion out of the planned Rs170 billion mini-budget.
Increased tax on cigarettes will only result in more smuggling from Afghanistan (which imports with no duty) into Pak.
Hours after tabling a finance bill in parliament to revive a stalled International Monetary Fund (IMF) loan programme, the federal government on Wednesday increased the price of petrol by Rs 22.20 and high speed diesel (HSD) by Rs 17.20. According to a press release issued by the Finance Division, a copy of which is available with Dawn.com, the prices of kerosene and light diesel oil were also increased by Rs 12.90 and Rs 9.68 respectively.
The new price of petrol is Rs 272 per litre while HSD will cost Rs 280 per litre. Kerosene will be available at Rs 202.73 whereas LDO will be sold at Rs 196.68 per litre.
Now we can expect eggs, milk ityadi to break triple centuries. And baki chicken to break the Mach 4...
Disregarding the prime minister’s austerity policy, the Federal Board of Revenue (FBR) has planned to buy 155 luxury vehicles, at a cost of over Rs1.6 billion, in the name of taxpayers’ facilitation out of a foreign loan meant to upgrade its obsolete information technology system...
Details show that the FBR has submitted documents to the Ministry of Planning for the Investment Project Financing (IPF) component, worth Rs19.6 billion, under the World Bank’s $400 million Pakistan Raises Revenue project...
The FBR has estimated each vehicle to cost about $47,000 or Rs10.3 million, at the old exchange rate of Rs220 to a dollar. After the rupee devaluation, and recent increase in prices by car assemblers, the total cost of the purchase might exceed much more than even Rs1.63 billion.
That is around Rs 84 INR, still about 15% cheaper than in India. So they are still subsidizing petrol?
Unless they got it at friendly ummah prices, as per their claims.
Re: Pakistani Economic Stress Watch
Posted: 16 Feb 2023 11:27
by vimal
A humble request to PM of Pakistan. Please do not be a cheapskate like kuffars, immediately order luxury private jets for each minister along with bulletproof mercs within the next six months.
Re: Pakistani Economic Stress Watch
Posted: 16 Feb 2023 11:38
by Dilbu
vimal wrote:A humble request to PM of Pakistan. Please do not be a cheapskate like kuffars, immediately order luxury private jets for each minister along with bulletproof mercs within the next six months.
ISLAMABAD: Disregarding the prime minister’s austerity policy, the Federal Board of Revenue (FBR) has planned to buy 155 luxury vehicles, at a cost of over Rs1.6 billion, in the name of taxpayers’ facilitation out of a foreign loan meant to upgrade its obsolete information technology system.
The estimated cost of Rs1.63 billion for the purchase of vehicles is equal to 8.6% of the funds that the FBR had secured for the upgradation of its obsolete hardware and software, showed official documents. The more glaring aspect of the plan is that a World Bank loan will be used to buy these vehicles in the name of taxpayers’ facilitation.
A couple of years ago, the FBR suffered one of the worst-ever data hacking incidents in its history – and yet, it has not been able to upgrade its data network.
Re: Pakistani Economic Stress Watch
Posted: 16 Feb 2023 11:40
by Deans
Manish_P wrote:
Bart S wrote:
That is around Rs 84 INR, still about 15% cheaper than in India. So they are still subsidizing petrol?
Unless they got it at friendly ummah prices, as per their claims.
We tax petrol and diesel heavily, but our customers can live with it, because we have a larger proportion of people using public transport, with
prices lower than Pak.
Re: Pakistani Economic Stress Watch
Posted: 16 Feb 2023 11:45
by vimal
Dilbu wrote:
vimal wrote:A humble request to PM of Pakistan. Please do not be a cheapskate like kuffars, immediately order luxury private jets for each minister along with bulletproof mercs within the next six months.
ISLAMABAD: Disregarding the prime minister’s austerity policy, the Federal Board of Revenue (FBR) has planned to buy 155 luxury vehicles, at a cost of over Rs1.6 billion, in the name of taxpayers’ facilitation out of a foreign loan meant to upgrade its obsolete information technology system.
Ye dil mange more
Re: Pakistani Economic Stress Watch
Posted: 16 Feb 2023 12:43
by Manish_P
Deans wrote:
Manish_P wrote:
Unless they got it at friendly ummah prices, as per their claims.
We tax petrol and diesel heavily, but our customers can live with it, because we have a larger proportion of people using public transport, with
prices lower than Pak.
Bit confused sir. Agree that our public transport system has been much wider, and deeper (Trains forming a sizeable chunk). And prices of essential items have a direct co-relation with fuel prices due to the transportation component.
But I always thought the the proportion of private car owners in Pak was much less than India - even during our 'garibi hatao' times. Feudal setup since birth would have meant the Pakis having a much more skewed composition of rich::middle class::poor than us even in those times.
Re: Pakistani Economic Stress Watch
Posted: 16 Feb 2023 13:09
by Bart S
^Yes, they are basically subsidizing the elites consumption (with gas guzzling imported secondhand cars, and diesel generators) in the guise of keeping the price low for the poor.
ISLAMABAD (Dunya News) - The Oil and Gas Regulatory Authority (OGRA) has notified 16.6 per cent to 113pc hike in the tariff of gas for oil categories for January to June 2023.
The development comes shortly after a massive increase in the prices of petroleum products by the coalition government.
The authority, in a statement, says the Ministry of Energy (Petroleum Division) communicated the decision of the Economic Coordination Committee (ECC), ratified by the federal cabinet, in respect of gas sale price, effective January 01, 2023.
After receiving the said advice, the OGRA notified the sale prices against each category of retail consumers of natural gas.
For domestic consuming up to 100 cubic metres of gas, the price has been increased by 16.6 percent from 300 to Rs350 per MMBTU, an increase of Rs50 per MMBTU. For domestic consumers who utilise 200 cubic metres, the rate has been increased by 32 percent from 553 to Rs730 per MMBTU.
ISLAMABAD: Political economist Dr Pervez Tahir on Wednesday called for revival of trade with India to decrease people’s woes.
He said the federal cabinet’s size should be cut down in conformity with the requirement of the 18th Amendment. Since the federal development spending is financed by borrowing, it ought to be reduced to zero until the budget is balanced, he said, adding that defence expenditure “has a tail longer than… necessary”. It’s time to improve the tooth-to-tail ratio, he stressed.
Dr Tahir was addressing the participants of the Third Asma Jahangir Memorial Lecture organised by the Human Rights Commission of Pakistan. Former PPP senator Farhatullah Babar also spoke at the event, which was moderated by rights activist Nasreen Azhar.
This isn’t my govt’: Maryam distances herself from Shehbaz-led regime
During the huddle, the PML-N chief organiser tried to absolve her party of current economic and other crises, stating that she is not part of the coalition government.
According to party insiders, Maryam said that the PML-N cannot be blamed for the performance of the coalition government led by PM Shehbaz.
“Our government will be formed when Nawaz Sharif is in Pakistan. Only Nawaz Sharif can take Pakistan forward,” she was quoted as saying
Re: Pakistani Economic Stress Watch
Posted: 16 Feb 2023 20:37
by vimal
I’m waiting for Kaptaan,
To save Pakistan
Re: Pakistani Economic Stress Watch
Posted: 17 Feb 2023 04:50
by Vayutuvan
Manish_P wrote:Pak twitter abuzz with rumors about Dar
Consequently, car sales observed a record 31-month slump in Pakistan – dropping by 65% (year-on-year decline).