Pakistan's economy was deliberately destroyed by Pmln: Dr Ashfaq Hassan

[Mav3rick]

Your entire post is basically rhetoric without facts and figures.

Plmn was the one constantly picking up fights and insulting Pak Army throughout their tenure. Army showed great restrain. Besides that's not the point, their whole understanding and basic economic policy was flawed (compromising macroeconomics for political gains). It was nothing more than a stage show, everything collapses as soon as the lights turn off (that is exactly what happened). This is not an isolated case specific to their last tenure, it's the same for all their tenures. Their economic policy is based on politics.

Your assumption about foreign debt is incorrect. During the last 2 years of plmn if you take an aggregate for net increase in foreign debt + variation in foreign reserves and factor in the interest payments (not principal as it basically gets rolled over), the sum is higher in Plmn 2 years than in the first 2 years of pti.

Figures for FY 2021 are very good.

My post was as it was because it was directed at and meant particularly for a legendary youthia and not for general consumption.

I don't think PML was picking up fights with the Army, and how can a boss pick a fight with his subservient? You have no idea how much the Military has hurt Pakistan's interests internationally just because of their narrow vision and love for the property that Pakistan has become. Dawn leaks is 1 prime example, Military is the reason we landed in the FATF Grey listing and we have been struggling ever since to climb out of it.

You speak of an economic policy which was being praised by the World Bank, IMF and all neutral global economic activity monitors such as Fitch and Moody etc., the entire premise that it was a stage show is based on an opposite school of thought based on hypothetical scenarios; the doom and gloom that is Pakistan's fate today too is a gift of the Military to the nation......oh and as for your insinuation that the entire base was a farce, let me explain by the explanation of a saying (I don't recall the saying exactly), no point in leaving a fortune for a sensible child as he/she will earn for himself/herself and grow successful and no need to earn for a useless child as he will squander away the wealth anyway.......we currently have a case of the latter, having given the country to senseless fools, we were meant to be led in this doom.

And your assumption about the foreign debt piled on by PTI being in any way lower than PML is also severely flawed, first because comparing strictly just the amount of debt added, PTI has added more in 2 years than PML did in 5 years. You want to bring in compounding interest for which we both will need to drill down to all the terms of the debt acquired by PML and PTI and the nitty grities, however the other critical fact to consider is that a larger economy can sustains larger debt because % of economy wise the debt ratio remains the same; Rs. 50 debt in a Rs. 100 economy is the same as Rs. 500 debt in a Rs. 1000 economy and is sustainable......what is NOT sustainable is growing debt in a shrinking economy, which is the case of the last 2 years!

 

[Patriot forever]

My post was as it was because it was directed at and meant particularly for a legendary youthia and not for general consumption.

I don't think PML was picking up fights with the Army, and how can a boss pick a fight with his subservient? You have no idea how much the Military has hurt Pakistan's interests internationally just because of their narrow vision and love for the property that Pakistan has become. Dawn leaks is 1 prime example, Military is the reason we landed in the FATF Grey listing and we have been struggling ever since to climb out of it.

You speak of an economic policy which was being praised by the World Bank, IMF and all neutral global economic activity monitors such as Fitch and Moody etc., the entire premise that it was a stage show is based on an opposite school of thought based on hypothetical scenarios; the doom and gloom that is Pakistan's fate today too is a gift of the Military to the nation......oh and as for your insinuation that the entire base was a farce, let me explain by the explanation of a saying (I don't recall the saying exactly), no point in leaving a fortune for a sensible child as he/she will earn for himself/herself and grow successful and no need to earn for a useless child as he will squander away the wealth anyway.......we currently have a case of the latter, having given the country to senseless fools, we were meant to be led in this doom.

And your assumption about the foreign debt piled on by PTI being in any way lower than PML is also severely flawed, first because comparing strictly just the amount of debt added, PTI has added more in 2 years than PML did in 5 years. You want to bring in compounding interest for which we both will need to drill down to all the terms of the debt acquired by PML and PTI and the nitty grities, however the other critical fact to consider is that a larger economy can sustains larger debt because % of economy wise the debt ratio remains the same; Rs. 50 debt in a Rs. 100 economy is the same as Rs. 500 debt in a Rs. 1000 economy and is sustainable......what is NOT sustainable is growing debt in a shrinking economy, which is the case of the last 2 years!

Your absurd confabulations about the army is based on your political tilt, the reality is opposite. You want army to be Punjab police it's not going to happen. BTW Maryam Nawaz was the one responsible for dawn leaks to stab army in back. There was no need to leak the contents of a classified meeting and that too with a lot of alterations to serve their purpose. Did you ever see Indian PM office saying India is involved in terrorism in Afghanistan or does terrorism in Pakistan?

As far as economy, there are no different school of thoughts. Economy is not philosophy it's numbers. It was a feel good political circus a temporary sham as long as you run out dollars and go default. Do you know to keep that consumption led model going for an another year the financing requirement was around $45b and increasing every passing year.
You need to earn dollars to pay back the loans in dollars, tell me where would you get the dollars? Consumption led growth consumes dollars not the other way around (take a look at he GDP stats and see for yourself service sector led growth). Combine that with subsidized dollar the road only leads to default.
If that was the case why did Mifta tried to depreciate rupee? Wasn't he the one who initiated talks with IMF? Why did he do that if it was so rosy as you mentioned?
Bro as far as your argument regarding loans, go through the numbers again as I mentioned before.

 

[Norwegian]

To discuss, you will need to view Dar's performance independently

Dars "performance" lol @Patriot forever @ziaulislam @Black.Mamba

 

[PakistaniAtBahrain]

Dars "performance" lol @Patriot forever @ziaulislam @Black.Mamba View attachment 715877View attachment 715878View attachment 715879View attachment 715880View attachment 715881View attachment 715882View attachment 715883

that troll face pic of Dar on your profile pic along with the economic figures and tables from his time always make me laugh.

 

[Norwegian]

You speak of an economic policy which was being praised by the World Bank, IMF and all neutral global economic activity monitors such as Fitch and Moody etc.

These institutions never praise import led unsustainable growth policies. All the praise is from before 2017 when net reserves were in surplus. And then it all went downhill.

 

[PakistaniAtBahrain]

These institutions never praise import led unsustainable growth policies. All the praise is from before 2017 when net reserves were in surplus. And then it all went downhill. View attachment 715884

how do you pull out the figures so fast? you have a readymade folder on your hard drive for all this?

 

[Norwegian]

And your assumption about the foreign debt piled on by PTI being in any way lower than PML is also severely flawed, first because comparing strictly just the amount of debt added, PTI has added more in 2 years than PML did in 5 years.

When PMLN came in govt in 2013, Pakistan external debt repayment per year was around 4 billion dollars. When PTI came in govt in 2018, it was increased to 10 billion dollars a year. You know what it means? It means that while Pmln returned 20 billion dollars in 5 years, PTI had to return 20 billion dollars in two years. This is why PTI govt had to take more loans to pay back more loans as Pmln left Pakistan bankrupt, Patwari

 

[Norwegian]

what is NOT sustainable is growing debt in a shrinking economy, which is the case of the last 2 years!

Between 2013 and 2018 the economy was growing fast, yet the external debt growth and current account deficit accumulation was unsustainable. That's why growth rate plunged to all time low after 2018, Patwari.

Do you know to keep that consumption led model going for an another year the financing requirement was around $45b and increasing every passing year.

Patwaris believe they live in US where trade and current account deficits do not matter, because US dollar is the world's reserve currency.

 

[Norwegian]

that troll face pic of Dar on your profile pic along with the economic figures and tables from his time always make me laugh.

If Beghairti had a face, it would be of Ishaq Dollar. He bankrupted Pakistan as finance minister between 2013 and 2017, ran away to London without resignation, applied political asylum there and then went to BBC Hard Talk to bash PTI govt.

how do you pull out the figures so fast? you have a readymade folder on your hard drive for all this?

Yes on my iPhone. You can also save them in a library to counter mass Patwari lies about Pakistan's economy between 2013 and 2018.

 

[Zibago]

To discuss, you will need to view Dar's performance independently, by remaining politically neutral

His performance was a disaster if we had continued his policies we wouldve reached bankruptcy with nothing to show other than an economy dependant on debt and consumption to keep itself afloat

Miftah Ismael a pmln member who was made finance minister was the guy who started sensible devaluation because he understood how dangerous for the longterm an inflated currency was

and not through the PRISM of PTI's false narrative which has dug us into this financial doom.

Oh yes PTI has dug us to doom while pmln policy that nearly brought us close to bankruptcy was a fantastic policy

 

[syedtalhamaududi]

Hafeez sheikh was a looser when with ppp and is a looser now.
No growth high inflation, massive debt, rising unemployment. A real rosy picture.
Supporters of PTI must be traitors or total retards, being a defence forum I would think retarded most likely.
PTI is a foreign funded black opp and the establishment has been played. Like when the cowboys made the Indians trade Manhattan for booze. We've been sold down the river

 

[Zibago]

PTI is a foreign funded black opp and the establishment has been played

Are you the same dumb boomer who got banned?

 

[syedtalhamaududi]

Are you the same dumb boomer who got banned?

Not sure what that means but any how. Being banned is no biggee judging by the crap being spewed by imbeciles who support the Ponce ik

 

[Norwegian]

Are you the same dumb boomer who got banned?

Yes

Supporters of PTI must be traitors or total retards, being a defence forum I would think retarded most likely.

If we can allow Khota Biryani supporters on PDF then show some tolerance for Youthias

 

[Mav3rick]

Your absurd confabulations about the army is based on your political tilt, the reality is opposite. You want army to be Punjab police it's not going to happen. BTW Maryam Nawaz was the one responsible for dawn leaks to stab army in back. There was no need to leak the contents of a classified meeting and that too with a lot of alterations to serve their purpose. Did you ever see Indian PM office saying India is involved in terrorism in Afghanistan or does terrorism in Pakistan?

If you are trying to imply that my tilt is towards PML, you are incorrect. How can a Karachiite ever support PML? My whole argument is based on performance of the previous Government in strict comparison with the current.

As for Dawn Leaks, it should have never happened, then again no Army in the world dictates terms to elected Governments, including that in India.....can an Indian Army chief ever dictate terms to Modi or any other PM? Can the RAW chief even dream of demanding resignation from the elected PM in India? No my friend, these unfortunate events take place only in Pakistan. Ironically, the purpose of the meeting (leading to Dawn Leaks) was to try and convince the Military leadership to have JuD banned or risk getting Grey Listed........they did not listen and we DID get grey listed; had we banned JuD and prosecuted Hafiz Saeed back then, India would have failed in her attempts to get us Grey Listed in FATF.

As far as economy, there are no different school of thoughts. Economy is not philosophy it's numbers. It was a feel good political circus a temporary sham as long as you run out dollars and go default. Do you know to keep that consumption led model going for an another year the financing requirement was around $45b and increasing every passing year.
You need to earn dollars to pay back the loans in dollars, tell me where would you get the dollars? Consumption led growth consumes dollars not the other way around (take a look at he GDP stats and see for yourself service sector led growth). Combine that with subsidized dollar the road only leads to default.
If that was the case why did Mifta tried to depreciate rupee? Wasn't he the one who initiated talks with IMF? Why did he do that if it was so rosy as you mentioned?
Bro as far as your argument regarding loans, go through the numbers again as I mentioned before.

I agree there are different schools of thoughts on economy and commerce and each lead to different results. Thinking radically differently, why don't you tell me what PTI would have done if they had come into power in 2013 instead of PML? You will need to build around the exact same situation and scenarios that PML inherited from PPP.