Pakistan’s trade deficit falls by 30% to $11.64b

[aasimanwaar]

Trade deficit 11.64 billion - remittance 11.39 billion = total Current account deficit = 0.15 billion.

Which is great achievement.

Can at the end of year, turn in surplus.

 

[Syed1.]

Trade deficit 11.64 billion - remittance 11.39 billion = total Current account deficit = 0.15 billion.

Which is great achievement.

Can at the end of year, turn in surplus.

There are other obligations as well as such as repayment of expensive foreign loans taken by previous 2 governments. I think annually we have to pay back about $10b.

 

[RoadRunner401]

Fooling of the nation must continue.

Comparison with same government rather than with previous government.
Imports have been banned or reduced for important items that gave people jobs and industries shut down.

Why of course trade deficit reduced.

If you see inflation in market despite government propaganda and lies about positive economy, this is the reason. They're fooling people

Previous Government was keeping rupee value artificially high with borrowed dollars in order to keep the imports cheaper while effectively killing the local industry and subsiding foreign produced goods that meant we would have no money in our foreign reserves and no Industrial base means no jobs.
That needed to be addressed immediately, Not sure which Part of that is a problem understanding, I understand why some of you and your Indian friends who were benefiting from this are upset.

Since you seem to be making all these claims that previous government were on the right track, explain how an agricultural country like Pakistan importing DAAL (lentils) and wheat from the United States was benefiting local farmers ?

Explain why Our sky were given to foreign carriers for free effectively killing local jobs and costing Pakistan billions in loss revenue?

Explain why PTCL management right were given to Foreign Nationals for just 26% of the company(company still owes 800 million dollars)

Explain why we had to import medicine from India? while local production was discouraged to help out friendly importers?

Explain why we import refined oil( diesel, petrol) from other countries costing us billions per year extra that we don't need to?

When you and all of your keyboard economist friends are done answering these few simple questions, I have 100S more real questions.

Sick and tired of idiots with 2nd grade failed diploma questioning the hard steps needed to be taken to get the economy on track. previous tag team governments(PPP, PMLN) had only one financial goal and that was to fill their own foreign bank accounts and if you or any of you were actually patriots you would see it, but for obvious reason you cannot.

 

[alibaz]

What was the total remittance received during the same period?

Its over 11 billion in first six months of FY 2020

http://www.sbp.org.pk/ecodata/Homeremit.pdf

 

[Bilal.]

Its over 11 billion in first six months of FY 2020

http://www.sbp.org.pk/ecodata/Homeremit.pdf

11.64 - 11.394 = 0.246 or only 246 million difference for the first half. If only we can control the hundi little bit we will fully finance our import through exports and remittance and be self sufficient. If we get our exports up a little faster too, we might actually start to see reduction in foreign debt.

 

[Defense Reader]

Previous Government was keeping rupee value artificially high with borrowed dollars in order to keep the imports cheaper while effectively killing the local industry and subsiding foreign produced goods that meant we would have no money in our foreign reserves and no Industrial base means no jobs.
That needed to be addressed immediately, Not sure which Part of that is a problem understanding, I understand why some of you and your Indian friends who were benefiting from this are upset.

Since you seem to be making all these claims that previous government were on the right track, explain how an agricultural country like Pakistan importing DAAL (lentils) and wheat from the United States was benefiting local farmers ?

Explain why Our sky were given to foreign carriers for free effectively killing local jobs and costing Pakistan billions in loss revenue?

Explain why PTCL management right were given to Foreign Nationals for just 26% of the company(company still owes 800 million dollars)

Explain why we had to import medicine from India? while local production was discouraged to help out friendly importers?

Explain why we import refined oil( diesel, petrol) from other countries costing us billions per year extra that we don't need to?

When you and all of your keyboard economist friends are done answering these few simple questions, I have 100S more real questions.

Sick and tired of idiots with 2nd grade failed diploma questioning the hard steps needed to be taken to get the economy on track. previous tag team governments(PPP, PMLN) had only one financial goal and that was to fill their own foreign bank accounts and if you or any of you were actually patriots you would see it, but for obvious reason you cannot.

Sir please would you like to highlight the part of Diploma in your post. or any Diploma holder has a such knowledge which you are questioning i think it is part of some major professionals those who are actually not doing their job correctly and blaming on other cadres "khsiyani bili khamba nochy" please put & write Degree Failure instead of Diploma Regards.

 

[alibaz]

11.64 - 11.394 = 0.246 or only 246 million difference for the first half. If only we can control the hundi little bit we will fully finance our import through exports and remittance and be self sufficient. If we get our exports up a little faster too, we might actually start to see reduction in foreign debt.

This is just a milestone, we need to push our exports and increase competitiveness of products for domestic consumption. One can't really place restrictions on imports for long just to keep local producers in field.
I believe any amount of debt is not significant if size of economy is big enough to service it. Running economy is like walking on a tight rope where you keep a balance to avoid falling and yet move ahead.

 

[PakAlp]

I think we should focus on shifting away from the need for oil.

Use canals and rail for freight (electric rail)
Use electrified Railways for travelling between cities
Use electrified trams for travel inside cities
Use electric buses for travel inside cities
Use electric rickshaws for travel inside cities
Use electric motorbikes for travel instead of petrol based ones

Generate electricity from non imported sources, such as nuclear, hydro, wind, solar etc.

Our city life should be adjusted in such a way that the car becomes useless to us. Think outside the box, help save the planet.

Pakistan oil and gas is water and agriculture. We should work hard on this. By the time we find oil and gas the world will move on to electricity. We need heavy investments to build small and medium dams so all cities can have their own supplies and own electricity, then bring in the electric cars, bikes, trams and our oil and gas imports will drop.

 

[ziaulislam]

Pakistan oil and gas is water and agriculture. We should work hard on this. By the time we find oil and gas the world will move on to electricity. We need heavy investments to build small and medium dams so all cities can have their own supplies and own electricity, then bring in the electric cars, bikes, trams and our oil and gas imports will drop.

Technology and potential is already there

1. Add 60,000 mw through hydro(huge potential )
2. Add 30-40k mw through solar/wind(huge potential )
3. Use hydro as battery during off peak times
4. Use coal and nuclear as a baseload
5. Switch all public transport and railway to electricity also give incentive for electric cars
6. Make electricity cheaper(by investment in no.1 & 2) so it becomes the main stay for home heating and cooking