Bharat Rakshak

With rupee fall, asset value of businesses melting

LAHORE: Auto parts manufacturers have expressed grave concern over the industry’s fast deteriorating situation due to the prevailing economic condition in the country.

At a meeting on Monday, office-bearers of Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) noted that the asset value of business was melting in the wake of falling currency exchange rate.

Apart from that, 150 to 200 trained and skilled employees were being laid off every day because of no work and non-production days.

They pointed out that the government’s tax collection had dipped, though the auto sector contributed a huge amount every month to the national exchequer.

On the one hand, government taxes accounted for 35- 38% of vehicle prices while on the other, restrictions were slapped on the import of raw material, pushing the auto sector into a precarious situation, observed the meeting participants.

Without basic raw material for the original equipment manufacturer (OEMs), how would the industry resist closure, questioned Paapam.

The auto industry is connected globally with a global supply chain. Once Pakistan gets off the network, the resumption of linkages will become very difficult.

Pakistanis are leaving our country in droves due to inflation and job losses – who can blame them?

https://www.theguardian.com/commentisfr ... ses-crisis

Oil industry warns of major fuel supply disruption

ISLAMABAD: The country’s oil industry is reportedly in serious trouble in arranging crude oil and petroleum products owing to foreign exchange constraints and prevailing product pricing, particularly following the recent currency depreciation and increase in the central bank’s policy rate.

Reporting these challenges to the government, the Oil Companies Advisory Council (OCAC) – an association of more than three dozen major oil marketing companies (OMCs) and refineries – have warned of a major disruption to the already fragile supply chain.

It reported that the international price of petrol had increased by 3pc ($2.8 per barrel) to $94.84 per barrel between Jan 1, 2022 to March 2 while HSD prices surged by $15.48 or 18pc to $103.53 per barrel. During the same period, the rupee depreciated by over 61pc or Rs108.38 against the US dollar. This meant that oil prices and exchange rate changes required the oil industry’s needs to go up by 90pc than LC limits in local currency compared with last year to produce the same quantity of HSD.

Therefore, the oil industry called upon the government to ensure that the banking sector enhanced limits for oil companies and refineries, enabling them to manage the impact of increased oil prices and rupee depreciation that was critical for the survival of the sector and the integrity of the POL supply chain.

“The industry is on the brink of collapse, instances of fuel shortages in certain areas earlier this year highlight the fragile condition of the industry” for which only the government intervention on an urgent basis would ensure uninterrupted supplies”, the OCAC concluded.

One has to admire Pakistan’s stoicism. Looked at Dawn. There is no concern or even indication that Pakistan is so low that it is looking up at the devil’s a$$.

https://www.aajenglish.tv/news/30314299 ... ys-zardari

Default is no big deal, says Zardari

Former President Zardari dismissed the talk of Pakistan potentially towards default on Tuesday and said it was no big deal.

“Even Japan and America defaulted,” Zardari told a gathering of party supporters in Mailsi.

It looks like Pakistan will default.

I think the right approach now would be to highlight the wealth and opulence in Pakistan, their commentators on msm, sm, and comment sections keep alluding to the fact of blase attitude, irrespective of reality, so let's highlight that, why do they need imf loans anyway, everything on paper is alright; it would prepare our local public to have the required diamond hands when the clarion calls for pitching (refugee) tents are raised

This is a good time to troll Pak. The Pakistan defence forum is a good place.

If any of you are located outside India (if not, get a VPN which gives a location outside India) join https://defence.pk/pdf/
Create a email an ID with a Muslim name, throw in the occasional Urdu phrase and you're good to go.

sanjaykumar wrote:One has to admire Pakistan’s stoicism. Looked at Dawn. There is no concern or even indication that Pakistan is so low that it is looking up at the devil’s a$$.

You have to remember that the press in TSP is tightly controlled. There are some articles popping up here and there but in a very controlled way and only in English news outlets which are consumed by RAPEs only. Rest of the media, including Urdu TV channels are mostly covering it in a very subdued manner. Imagine the headlines and opeds that will be appearing all over Indian media if only our growth rate was to drop for a quarter. Here TSP is on the brink of economic disaster and the silence from the paki media is deafening.

Deans wrote:This is a good time to troll Pak. The Pakistan defence forum is a goog place.

If any of you are located outside India (if not, get a VPN which gives a location outside India) join https://defence.pk/pdf/
Create a email an ID with a Muslim name, throw in the occasional Urdu phrase and you're good to go.

Sir, you should warn users that visiting deaf and dumb fora is bad for mental health.

Many many moons ago I visited the d&d fora for just a week or so.. I thought i would learn about their way of thinking. Within a couple of days I realized it was not going to happen but I still thought it would be fun and for laughs.. barely a week in and i could feel my brain cells dying as I read the posts there.

Now i confess i post articles from Yawn frequently here but I am real glad that posting from D&D fora is banned/frowned upon here in the military section.

Na baba na. Never again.

PS: I bet they have a thread there on warp propulsion systems and how the Chinese are working on it and have promised to give ToT to jihadistan

https://dunyanews.tv/en/Pakistan/705246 ... -community

Chief of Army Staff (COAS) Gen Asim Munir has assured the business community that Pakistan has averted the default and it will soon witness economic turnaround.

The army chief held a meeting with top businessmen of the country on Tuesday night and Finance Minister Ishaq Dar was also present. The army chief said Pakistan would emerge as a prosperous nation as its economy was gradually picking up.

Sources said the COAS looked satisfied throughout the meeting and hoped that economic challenges would be overcome.

I remember this quote (paraphrased) by ABV during Kargil "Our army has soldiers. Their army has electricians, factory managers, businessmen...."

^^^^ linking deaf and dumb forum links in BRF is haraam as they get traffic through BRF.

On Twitter:

Economy of Pakistan

@Pakistanomy
The government has decided to give half of the Hajj quota to overseas Pakistanis for saving around $400 million.

Instead of 180,000 Pakistanis quota, only 90,000 from Pakistan will be allowed to perform Hajj.

^^^^ I had an idea of Haj in the Metaverse but thought it would be branded a kufr conspiracy.

can we please not link those forums at BRF? I thought that was banned a few years ago?

I had an idea of an paki-fied crypto that is no longer controlled by any non-islamic entity. and since interest is haram, no interest on the crypto coin itself. wrap the tokens/site in the verses of the un-mentionable book and voila- we have a currency that can replace the PKR.

Manish_P wrote:[
Sir, you should warn users that visiting deaf and dumb fora is bad for mental health.

Many many moons ago I visited the d&d fora for just a week or so.. I thought i would learn about their way of thinking. Within a couple of days I realized it was not going to happen but I still thought it would be fun and for laughs.. barely a week in and i could feel my brain cells dying as I read the posts there.

Manish ji, My experience has been the same. Of late however, the Pak forum has become a source for entertainment. There are just a couple of posts per page with coherent sentences in English and a few threads worth reading for a laugh. It is also more critical of the system than Dawn and Friday Times.

neeraj wrote:^^^^ linking deaf and dumb forum links in BRF is haraam as they get traffic through BRF.

pdfdrive.com enables you to download books for free.
Search for Pakistan and you get many books relevant to BRF. My Pak collection is from this source.
I would not normally suggest this route, as I think authors deserve their royalty, but I am happy to make an exception for Pakistan and Pakistanis.

Deans wrote:... It is also more critical of the system than Dawn and Friday Times.

Aah. I think i see your point now.

I didn't even realise that they had non-military threads..

There is still some way to go for the pakis. I still don't the acute grinding poverty that we have seen in some of the most underdeveloped places in India, like in some pockets of Bihar, Jharkhand and Odisha. The poverty levels in some tribal pockets in these states or of landless labourers is truly pathetic. 2 square meals a day is always a struggle and most of the children are malnourished. Similar levels of poverty can also be seen in pockets of Bangladesh.
The situation in India has improved over the years, but if we go back 10-15-20 years, this kind of grinding poverty did exist. We still don't see that level of widespread poverty in pakistan as yet. Right from the partition till the mid 90's, the pakis were ahead of us on a lot of the economic indicators, though primarily it was because they never had to repay their debts.

If the boyz keep playing well and the inflation keeps rising then such levels of poverty too might start appearing.

mody wrote:...I still don't the acute grinding poverty that we have seen in some of the most underdeveloped places in India, like in some pockets of Bihar, Jharkhand and Odisha...

It is there. One can find it if one searches for it. Pakis don't do poverty p@$n.

bharathp wrote:I had an idea of an paki-fied crypto that is no longer controlled by any non-islamic entity. and since interest is haram, no interest on the crypto coin itself. wrap the tokens/site in the verses of the un-mentionable book and voila- we have a currency that can replace the PKR.

(OT) Yeah, they can take the path of another failed state, El Salvador, to use Bitcoin as official currency and prepare to issue something equivalent of a Volcano bonds to fix its debt problem. The challenge is that it needs electricity to do anything. Do read about Volcano bonds, it is entertaining. I’ll not go into details, but happy to respond if anyone interested.

mody wrote:There is still some way to go for the pakis. I still don't the acute grinding poverty that we have seen in some of the most underdeveloped places in India, like in some pockets of Bihar, Jharkhand and Odisha. The poverty levels in some tribal pockets in these states or of landless labourers is truly pathetic. 2 square meals a day is always a struggle and most of the children are malnourished. Similar levels of poverty can also be seen in pockets of Bangladesh.

There are different definitions of absolute poverty. One which is reasonably credible and allows comparisons across countries is the World bank
i.e People with an income of $ 3.2/day, live in absolute poverty.
- 39.3% of Pakistanis live under that level vs 11.6% in India.

India had a larger % of people in absolute poverty until 2010. India pulled the same % of people out of poverty, as the % Pak pushed INTO poverty.
In 2010 India had 30% in absolute poverty, while Pak had about 17%.

Pakistan uses a lower benchmark for absolute poverty and under that, 22-24% of the country is in absolute poverty.

Pakistan has done a successful job of deflecting the gaze from its poverty. If posters even here are not aware of conditions.

Interior sindh is poorer than large parts of Africa was in the 1960s.

They are literally eating garbage. The poverty rate even by pakistans’s metric is 75%.

It is a disgrace.

Let them live with this delusion. It will be game over in 10 yrs if we maintain the current trajectory

sanjaykumar wrote:Pakistan has done a successful job of deflecting the gaze from its poverty. If posters even here are not aware of conditions.

Interior sindh is poorer than large parts of Africa was in the 1960s.

They are literally eating garbage. The poverty rate even by pakistans’s metric is 75%.

It is a disgrace.

Pakijabis have no qualms about these as long it happens far from their lands. For them other provinces are colonies useful for only resource extraction.

There is no question: It is racism. They have learnt nothing from Bangladesh

partha wrote:https://www.aajenglish.tv/news/30314299 ... ys-zardari

“Even Japan and America defaulted,” Zardari told a gathering of party supporters in Mailsi.

...

Hain? Is that the land of two mosques for Malsi?!!!

sanjaykumar wrote:Pakistan has done a successful job of deflecting the gaze from its poverty. If posters even here are not aware of conditions.

Interior sindh is poorer than large parts of Africa was in the 1960s.

They are literally eating garbage. The poverty rate even by pakistans’s metric is 75%.

It is a disgrace.

Baluchistan's per capita income is lower than Sindh.
Sindh's income looks higher than it really its, because half of it comes from Karachi. As you rightly say, rural areas are very different.

Azad Kashmir per capita income is lower than our Kashmir.

https://www.msn.com/en-in/money/topstor ... f9fa&ei=48

Some voices of dissent against the paki military coming through. Many more are needed.

"The barrister then said one golf stick costs more than the monthly salary of a labourer. "This is the General's Pakistan on the brink of a formal declaration of default," he wrote on Twitter. Umar echoed the views of most Pakistanis who believe there are two sets of people in the troubled country where one section gets all the privileges while another suffer.
In Pakistan, the government has fixed the minimum wage at Rs 25,000 per month (Rs 7,352 in Indian rupee) for workers. And the price of a golf kit in the country runs into lakhs.

Responding to the barrister's tweet, former Indian Army Chief Ved Malik said these privileges were one reason among others why the Pakistan army won't let go of their hold on politics and power in the country.

In Pakistan, military officers enjoy a lot of privileges. But the one which irks many in the country is that they get a huge chunk of land once they retire from the service.
Ayesha Siddiqa, a leading defence analyst, in her book - Military Inc: Inside Pakistan’s Military Economy - writes that Pakistan's army possesses 12 per cent of the country's land, out of which two-thirds is owned by senior officers.

In January this year, former finance minister Miftah Ismail suggested that to meet the demands of the IMF, the government would have to raise the minimum wage from Rs 25,000 to Rs 35,000."

It's the IMFs fault all along... innocent Bakistan are the victims onleee

Yawn - Has IMF failed Pakistan?

PAKISTAN stands on the brink of default even as it remains engaged with the IMF at the tail end of a three-year programme. While the country’s economic woes are rooted in its own inept policies, IMF has escaped scrutiny of its stabilisation programmes that have failed to put Pakistan on a sustainable path in 22 attempts and certainly needing another programme immediately after this one concludes.

During the current 22nd programme, Pakistan has largely followed the IMF stabilisation programme but like many democratic governments living and spending in the present while ignoring the medium-term consequences of accumulating expensive debt, both governments during the programme period failed to contain expenditures, which exceed 20 per cent of GDP.

With a blind eye towards expenditure growth, the IMF insisted on complex tax measures, ignoring their impact on economic activity and resource allocation to the detriment of growth and competitiveness.

PS- requesting Anujan ji to suggest $'X' billion compensation to be given to Pakistan for failure of IMF

Unkil has ditched the munna.
US says Pakistan will have to make its own decisions to unlock IMF funding

US State Department spokesperson Ned Price says that ultimately Pakistan will have to make its own decisions to unlock funding from the International Monetary Fund (IMF).

Price was responding to a question during a press briefing about accusations against the United States on not using its "friendly influence" with the IMF to help Pakistan because of tensions between the US and China. Ned Price responds to question about accusations against US not using "friendly influence" with IMF to help Pakistan

"We encourage Pakistan to continue working with the IMF, especially on reforms that will improve Pakistan’s business environment," he continued, saying that the US believed that doing so will make Pakistani business "more competitive" and help Pakistan attract high-quality investment.

"But more value than the potential investment dollars are the technologies, are the market connections and management systems that accompany foreign investment," he said, adding that they improve the competitiveness of partnering Pakistani firms, fueling economic growth that increases employment and household incomes.

"We believe that by continuing down this path and continuing to make the necessary decisions – economic decisions – that Pakistan can put itself, with the support of the international community, of course with the support of the United States, on a path to sustainable growth," he said.

Manish_P wrote:It's the IMFs fault all along... innocent Bakistan are the victims onleee

Yawn - Has IMF failed Pakistan?

If IMF with it's 1000 economists and billions of money cannot stabilize Pakistan, how can Pakistan with almost no economists and money stabilize Pakistan? The world should introspect and not point fingers.

Reminds me of this news 10 years back https://www.reuters.com/article/idINInd ... 5220110504

Pakistan blamed worldwide intelligence lapses for a failure to detect Osama bin Laden living near its capital, while Washington worked to establish whether its ally had sheltered the al Qaeda leader.

Deans wrote:

Manish_P wrote:[
Sir, you should warn users that visiting deaf and dumb fora is bad for mental health.
.
.

Manish ji, My experience has been the same. Of late however, the Pak forum has become a source for entertainment.

Won't take much bandwidth here. But in case anyone has some time for some good quality entertainment, courtesy of the Deff and Dumb, here's some that I chronicled.
Includes a lot of 'interesting' suggestions for economic upliftment as well!

Link

https://twitter.com/i/status/1263162136383098880

colonil ki biwi "handling" the road block

https://twitter.com/i/status/1263272030352310273

road block "handled" madamji showing skills in drum rolling now

this paki twitter video is trending at #2 .. likely #1 once madamji starts looking for toilet

drnayar wrote:https://twitter.com/i/status/1263162136383098880

colonil ki biwi "handling" the road block

https://twitter.com/i/status/1263272030352310273

road block "handled" madamji showing skills in drum rolling now

this paki twitter video is trending at #2 .. likely #1 once madamji starts looking for toilet

Anujan wrote:

Manish_P wrote:It's the IMFs fault all along... innocent Bakistan are the victims onleee

Yawn - Has IMF failed Pakistan?

If IMF with it's 1000 economists and billions of money cannot stabilize Pakistan, how can Pakistan with almost no economists and money stabilize Pakistan? The world should introspect and not point fingers.

Reminds me of this news 10 years back https://www.reuters.com/article/idINInd ... 5220110504

Pakistan blamed worldwide intelligence lapses for a failure to detect Osama bin Laden living near its capital, while Washington worked to establish whether its ally had sheltered the al Qaeda leader.

This is a trademark Pakistani logic which even the good Haqqani has used when he was the ambassador to US.
This is one of the funniest bits on Pakistan by Jon Stewart - https://www.cc.com/video/o1ijpf/the-dai ... alypse-now

^why was he rejected by his cousin sister?

sanjaykumar wrote:^why was he rejected by his cousin sister?

Maybe she was only "beautiful with splashing white complexition" but not "very very".

So mum wants a Doctor daughter in law who shouldn't work. The country already has few doctors and like us they have pretty high requirements for medical colleges (i.e. needs to be attached to a hospital and intake is proportional to number of beds), and some of the few they graduate are also being made to sit out. No wonder their health care is all screwed up.

yensoy wrote:

sanjaykumar wrote:^why was he rejected by his cousin sister?

Maybe she was only "beautiful with splashing white complexition" but not "very very".

So mum wants a Doctor daughter in law who shouldn't work. The country already has few doctors and like us they have pretty high requirements for medical colleges (i.e. needs to be attached to a hospital and intake is proportional to number of beds), and some of the few they graduate are also being made to sit out. No wonder their health care is all screwed up.

Pak wimmens get into medical college with the main purpose of improving their prospects in the marriage market.

Anujan wrote:..
If IMF with it's 1000 economists and billions of money cannot stabilize Pakistan, how can Pakistan with almost no economists and money stabilize Pakistan? The world should introspect and not point fingers..

I have been reading Yawn and other baki newspapers for so long that the above statement sounds perfectly sensible to me.. oh dear god

Kancha wrote: But in case anyone has some time for some good quality entertainment, courtesy of the Deff and Dumb, here's some that I chronicled.
Includes a lot of 'interesting' suggestions for economic upliftment as well!..
Link

Ah so you are the gentleman there. Didn't know the BRF connection. I do check out that thread from time to time, and your other ones as well

partha wrote:..
This is a trademark Pakistani logic which even the good Haqqani has used when he was the ambassador to US...

I get it now. This is what Dar means when he says he knows how to deal with the IMF... simply wear them down with lahori logic when pushing sialkoti statistics arrived at using madarssa maths.