Soon it will beat Sri Lankan rupee!!
Nacho BC....
$1 is now worth PKR RS 311 officially and in open market it should be around PKR RS 350....
@_Anonymous_ @Ankit Kumar
Islamic Republic of Pakistan : News, Discussions & Updates
- Thread starter Butter Chicken
- Start date
Came across another interesting piece today.
Pakistan has perfected the art of tugging its willy for years and stretching it just enough so it can enter up its own......
Picture this
Until last week there were 3 exchange rates in Pak
Govt - Managed by selling dollars
Pvt Banks - Managed by a consortium of banks which decided what rate to sell the dollar at
Black Market - The street wheeler dealer rate
The Shariff govt. spent a fair bit of its holdings trying to maintain the exchange rate so the public could among other things buy European groceries at affordable rates.
The fat cats with connections in the system bought $$$ at the official govt rate (which was lower to Pvt banks by 20-30 PKR and by 30-40 PKR for Black Market) and sold them in the Black market making instant profits while screwing the govt over which had obtained those $$$ by the means of commercial loans & bonds and was expected to pay interest on them.
While the govt was frantically trying to stabilize the $ rate, these people were milking the state dry.
Some sections of Pak society have made a killing while the rest .... well they are getting killed
Pakistan has perfected the art of tugging its willy for years and stretching it just enough so it can enter up its own......
Picture this
Until last week there were 3 exchange rates in Pak
Govt - Managed by selling dollars
Pvt Banks - Managed by a consortium of banks which decided what rate to sell the dollar at
Black Market - The street wheeler dealer rate
The Shariff govt. spent a fair bit of its holdings trying to maintain the exchange rate so the public could among other things buy European groceries at affordable rates.
The fat cats with connections in the system bought $$$ at the official govt rate (which was lower to Pvt banks by 20-30 PKR and by 30-40 PKR for Black Market) and sold them in the Black market making instant profits while screwing the govt over which had obtained those $$$ by the means of commercial loans & bonds and was expected to pay interest on them.
While the govt was frantically trying to stabilize the $ rate, these people were milking the state dry.
Some sections of Pak society have made a killing while the rest .... well they are getting killed
Pakistan not a country with people but a military garrison , a chessboard for its generals to play strategy and games
Paxtan has started breaking apart, the real countdown. Even more concerning is there’s no solution for this economic quagmire about to snowball into anarchy and disintegration. If Paxtan finds itself boxed into a corner with slow death, they will have to do something drastic for getting economic aid. They will eventually resort to couple of low yield nuclear explosions within Paxtan, as a test or accident to grab world’s attention. If accident then there will be casualties in thousands. It will be shown as breakup of infrastructure under economic stress. There’s risk of denuclearisation of Paxtan but they will be able to hide a dozen of dirty bombs. No one in Paxtan will oppose it given extreme economic hardships.
Study shows beggars earn more than 99.9% of the Pakistan population....
Begging is the best profession in Pakistan with highest earnings. No Doubt why Pakistan is international Beggar...
IMF Team visits Pakistan and decided to provide Loan to Bangladesh....
Iran Warns Pakistan To Complete Pipeline Or Face $18B Penalty: Media
Le Bose DK Pakistan ka Bad Luck Hi Kharab Hai. ..
Now Iran wants $18 billion dollars in compensation if Pakistan doesn't complete Pipeline work by 2024 as per agreement....
Iran Warns Pakistan To Complete Pipeline Or Face $18B Penalty: Media
Pakistani media report that Tehran has warned Islamabad to construct its portion of the Iran-Pakistan gas pipeline until March 2024 or pay a penalty of $18 billion.
www.iranintl.com
Le Bose DK Pakistan ka Bad Luck Hi Kharab Hai. ..
Now Iran wants $18 billion dollars in compensation if Pakistan doesn't complete Pipeline work by 2024 as per agreement....
A day without being humiliated is a day wasted!
(anadolu, jan.27)
Russian oil will help Pakistan 'partially,' say experts
Islamabad says it will start getting oil from Moscow at discounted price from March onwardsOnce arch-rivals Russia and Pakistan are currently scrambling to ride out the latter's increasing oil and gas demands, a move welcomed with caution by local analysts.
Pakistan's State Minister for Petroleum Mussadiq Malik told a press conference on Thursday in the capital Islamabad that Russia had agreed to provide oil to Pakistan at discounted rates to meet Islamabad's rising domestic and industrial energy needs.
From March onwards, he added, Pakistan would procure oil from Moscow at a discounted price as 'all the formalities' with regard to the bilateral agreement would be finalized by then.
Pakistan, according to him, would purchase crude oil, petrol, and diesel from Russia.
Islamabad will also ink long-term contracts with Moscow for procurement of gas, he maintained.
The two sides reached the understanding after a series of bilateral visits in recent months, with the latest tour of Islamabad by a high-level Russian delegation led by Energy Minister Nikolay Shulginov last week.
- Partial solution
The procurement of oil has long been at the center of local politics, particularly after the visit of former Prime Minister Imran Khan only a day before Russia launched its war on Ukraine on Feb. 24, 2022.
Khan, ousted through a no-confidence vote in parliament in April, claimed that his Moscow visit was one of the reasons behind his ouster.
Samiullah Tariq, a Karachi-based energy expert, reckons that the understanding with Russia would help Pakistan partially mitigate its rising energy demands, and oil import bill.
Nonetheless, he said, this would not be sufficient to resolve the issue to a large extent as it requires some 'key steps' to be taken by Islamabad itself.
'The entire energy sector should be seen through a business prism,' Tariq told Anadolu.
Quoting last year's oil import bill of $26 billion, he said the country needs an 'as much as fast' shift to renewable energy sources, mainly solar and wind, to meet its requirements.
'Electricity production devours the lion's share of the imported oil, which is causing cascading effects on the country's already ailing economy. This share needs to be curtailed and shifted to local gas and renewable energy sources,' he said, calling for fresh gas explorations in the country.
- 'US is unlikely to object'
Munawar Hussain Panhwar, an associate professor of International Relations at Quaid-I-Azam International University Islamabad, said Pakistan's longtime ally the US is unlikely to object to the understanding, considering the ongoing serious energy crisis across the world after the Russian invasion of Ukraine last year.
'Several US allies from South America to Asia stood away from the Washington-sponsored sanctions resolution in the UN. They have kept their options open to meet their energy needs through Moscow,' Panhwar told Anadolu.
Therefore, he thought, there are slim chances of the US opposition to this move.
'In fact, I believe there is a tacit agreement between Islamabad and Washington on this issue,' he maintained.
Commenting on Moscow's condition for payment of oil in the currencies of 'friendly' countries, Panhwar observed it would benefit Pakistan, considering its depleting dollar reserves.
- 'CPEC helped improve power capacity'
Power breakdowns are common in the South Asian nuclear country, primarily because of poor infrastructure and lax maintenance standards.
In summers, the country's electricity demand jumps to 28,000 megawatts, leaving a supply gap of 4,000 MW to 6,000 MW.
In winters, the demand and supply gap stands at 8,000 MW.
Pakistan, Tariq observed, has significantly improved its power capacity by at least 14,00 MW, mainly after the implementation of the multi-billion dollars China Pakistan Economic Corridor (CPEC) project signed in 2015.
Power generation is the largest chunk of the 64 billion dollars mega project, followed by infrastructural development.
Farhan Mahmood, another Karachi-based economic and energy researcher supported the view, stating that the country has the capacity to cope with its energy demand.
Nonetheless, he said, the rising petroleum and gas prices and 'primitive' distribution and transmission systems are major obstacles to meeting the actual requirements.
Speaking to Anadolu, Mahmood called for improving the 'utilization' of power, especially in winters, through industrial activities.
'Pakistan has a lesser industrial activity compared to its power capacity. Power plants cost heavy operational charges even if they do not produce electricity, primarily in winters,' he said.
'Reduction in oil consumption and reliance on renewable energy sources will be a two-way benefit. It will not only reduce the flight of dollars but also prop up the country's sluggish industrial sector,' Mahmood maintained. /end
Pakistan's condition reminds me of a person who went to the doctor and complained it hurt wherever he touched.
He said - I touch my head - it hurts, I touch my arm - it hurts, I touch my stomach - it hurts, I touch my leg - it hurts. Whats wrong me.
Doctor - Your hand is broken.