Pakistan Economy : Updates and Discussions
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1. Pakistan somehow thinks that it is the self proclaimed flag bearer of Islamic expansion and conquest of the world. Any defeat to this thought process is a jolt to their psyche and puts them in trauma
2. Even after almost 50 years, it is unable to come to terms that its existence is reduced to half and its footprints are pushed back by a 1000 miles towards Mecca, thus shrinking and reversing its expansion (After Punjabi Ali repeatedly fails in sixth grade, he is demoted back to 5th, and then to 4th and so on .... so the Khan sprints to his khatun and says "nada kas le, munda reverse wich aa reya hai". This is what is happening to all what Pakistan stands for
3. This is a very natural behavior of humanity - we will envy and hate the possessions and achievements of those whom we know. Oh, how did he get the promotion, why did that guy get a salary raise. Most humans are very little thinkers and have a myopic view. We dont look at Billoo bhaiya of Microsoft, or Johnny bhai of Cisco to look up to them so as to drive our ambitions and compete with what they did. Pakistan is infected with the same mental disorder
4. The Pakistani theorem - Having an idea of self as supremely invincible where decisions derived out of Hatred and revenge overpowers rationality = leads to Pulwama
If you do a simple math 1 + 2 + 3 + 4 = Pakistan Suicide !!
Confirmed Pakistan hopes are dashed, they are not getting out of Greylist - means they will stay in Greylist & if they continue to stay in Greylist for over a year they risk falling into Blacklist, maybe sooner...
Wow what a wonderful Naya Pakistan.... economic price, wait & watch
So no IMF bail out either as one of the conditions was that they must come out of Gray List.
If I'm not mistaken, it's the black list. The grey list doesn't preclude Pakistan from receiving IMF aid.
They will get 6bn bailout package from IMF if they reduce gov spending by 30% and increase taxes by the same, this 6b will be taken back as payment for previous loans from IMF. IMFs conditions were it would endorse Pakistan for loans from other institutions provided it comes out of the greylist by September. Meaning Pakistan is back at square one.
Basically, they got an extension for a year or two (don't know the timeframe) to start paying off their previous IMF loan. For that, they had to compromise on increasing taxes and devaluation of pkr.
The real fun starts in 2021 when they need to start paying off their CPEC loans (4b a year) to Chini mamu.
Pakistan top take 12.3 Billion USD load njext year out of which 10.7 Billion has to be used to repay debt
Pakistan eyes borrowing of $12.3 billion in FY20 | The Express Tribune
Pakistan eyes borrowing of $12.3 billion in FY20 | The Express Tribune
Pakista Economy hit takes its first toll on Military
Prime Minister Imran appreciates military's 'voluntary' cuts in defence expenditures
Prime Minister Imran Khan revealed on Twitter late Tuesday that the military has agreed to slash the defence budget for the next fiscal year in line with broader austerity measures being introduced by the government.
The premier noted that these cuts were agreed to despite "multiple security challenges".
He further stated that the money saved would be diverted to aid the development of the merged tribal areas and Balochistan.
Inter-Services Public Relations, the military's media wing, stated in a later tweet that the cuts "will not be at the cost of of defense and security", and that it was important for the military to participate in the rebuilding of Balochistan and the erstwhile tribal areas.
Director General of ISPR Maj Gen Asif Ghafoor further stated that the slashes would be managed "internally" by all three branches of the armed forces taking into account strategic compulsions.
Earlier in February, the government had decided not to make any cuts in the country’s defence budget for the ongoing year.
“The country’s defence budget is already low as compared to other states in the region, and therefore it should be increased,” the then information minister, Fawad Chaudhry, had said.
“We want to increase our defence and security; therefore we need to increase our defence budget and for that purpose we want to generate more revenue,” Chaudhry had added.
Last month, however, the government had announced that all civil and military institutions would contribute to the austerity-oriented federal budget for 2019-20.
“There will be austerity in the coming budget. We will try to keep government expenditures to the minimum possible level,” Prime Minister’s Adviser on Finance and Economic Affairs Dr Hafeez Shaikh had said. “God willing we will all stand together on this, whether it is civilian or army [institutions] or the private sector.”
Placed in a difficult neighbourhood, it was the most important thing for a sovereign country like Pakistan to protect its people and borders and to give whatever sacrifice was possible, Shaikh had said, adding: "Nevertheless, we are all on the same page whether these are civilians or armed forces that there should be serious, sustained and structured reforms through difficult decisions and all would participate in this effort and you would see this in the new budget”.
Source: Prime Minister Imran appreciates military's 'voluntary' cuts in defence expenditures - Pakistan - DAWN.COM
Prime Minister Imran appreciates military's 'voluntary' cuts in defence expenditures
Prime Minister Imran Khan revealed on Twitter late Tuesday that the military has agreed to slash the defence budget for the next fiscal year in line with broader austerity measures being introduced by the government.
The premier noted that these cuts were agreed to despite "multiple security challenges".
He further stated that the money saved would be diverted to aid the development of the merged tribal areas and Balochistan.
Inter-Services Public Relations, the military's media wing, stated in a later tweet that the cuts "will not be at the cost of of defense and security", and that it was important for the military to participate in the rebuilding of Balochistan and the erstwhile tribal areas.
Director General of ISPR Maj Gen Asif Ghafoor further stated that the slashes would be managed "internally" by all three branches of the armed forces taking into account strategic compulsions.
Earlier in February, the government had decided not to make any cuts in the country’s defence budget for the ongoing year.
“The country’s defence budget is already low as compared to other states in the region, and therefore it should be increased,” the then information minister, Fawad Chaudhry, had said.
“We want to increase our defence and security; therefore we need to increase our defence budget and for that purpose we want to generate more revenue,” Chaudhry had added.
Last month, however, the government had announced that all civil and military institutions would contribute to the austerity-oriented federal budget for 2019-20.
“There will be austerity in the coming budget. We will try to keep government expenditures to the minimum possible level,” Prime Minister’s Adviser on Finance and Economic Affairs Dr Hafeez Shaikh had said. “God willing we will all stand together on this, whether it is civilian or army [institutions] or the private sector.”
Placed in a difficult neighbourhood, it was the most important thing for a sovereign country like Pakistan to protect its people and borders and to give whatever sacrifice was possible, Shaikh had said, adding: "Nevertheless, we are all on the same page whether these are civilians or armed forces that there should be serious, sustained and structured reforms through difficult decisions and all would participate in this effort and you would see this in the new budget”.
Source: Prime Minister Imran appreciates military's 'voluntary' cuts in defence expenditures - Pakistan - DAWN.COM
Bas kar Gafoor rulayega kya
Never a dull moment in Pakistan, loving this drama and overacting.
Strongly recommend "Aaj Din News Ke Saath with Mehmood Sadiq" to anyone interested in Pakistan. The show's posted on youtube every other day, and each "episode" is ~50 minutes or so. He's one of the few relatively intelligent and sober commentators in Pakistan, and the picture he paints of Pakistan's current state and future is absolutely tragicomic.
I never misses his show. He is one of the few unbiased media person left in Pakistan who is not scared of PEMRA. He is the head of DIN media group. The anchor of the show also is very good and makes good humorous remarks.
Yea, they were openly mocking PEMRA and talking about the 5-10 Lakh fines they're getting and stuff lol. I was shocked at some of the stuff he mentions candidly during a time like this in PAK when Army is coming down hard on everyone, and even more so after the 180 degree turn Hamid Mir did after his own narrowly missed assassination attempt.
And I agree lol, half the reason I watch the show is for the witty/sarcastic back and forth between the Chairman and his Anchor, they're almost like a dry wit/comedy pair.