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Foreign loans soar to $10.4b in Jul-Dec

Mav3rick

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I don't get one thing. We are offering bonds with interest rate of 6-8% by-annual. Similarly we are taking loans on an interest rate of 4-5% . Instead why not take $100 billion loan from China for 20 years and 5 years grace period ? I am sure they will offer 3% interest rate as I think that is what they keep charging from us for different loans. Correct me if I am wrong. So why not pay everyone else and instead you pay to one country each year after that ? Like $5-7 billion ? I am sure it's way less then the current 15-20 billion $ we keep paying each year out of which majority goes to debt servicing and only $2-3 billion in principle. But for that we have already taken $20 billion more loans so our loans never decrease and keep increasing at a rate of $10 billion each year. We need to sign this strategic deal with China ASAP otherwise we will keep our country at its toes and won't be able to succeed.
Such a massive loan cannot be acquired without critical collateral and I seriously doubt China can extend such a massive loan facility. On the contrary, if we ask the Western World to loan us USD 100 Billion something and place our Nuclear Weapons as collateral and a moratorium on producing additional Nuclear Weapons (the actual weapons will remain with us unless we default on payments), they wouldn't hesitate to advance us the loan; and that too on excellent terms.
 

fisher1

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Are you aware what USA is doing with Iraq, Libya, Syria and other Muslim nations ? You still using GPS, internet, iPhone and other Apple products while planning to buy a Tesla ? Jsut tell me how is America 1000 times less evil then China ?

Yes, I am aware. USA is giving shahadat (the highest rank) to the Muslim victims. China is forcing atheism down the throats of Uighurs and torturing them until they give up Islam and proclaim Xi Pig as their god. If you are a Muslim, I don't need to tell you what is worst. I would rather be nuked at the hands of kaffir and die as Muslim than live and worship a pig. Life as atheist is worst than death of a Muslim martyr.

If you deny that and put your head in the sand like an Ostrich pretending it's not happening then that's your problem. But don't think China will not do the same treatment to you when they get a chance. And that's exactly what is going to happen when China gets the same control of PK as US has.

Now as far as US is concerned, there is freedom to preach, freedom to practice religion, freedom to expression and half the population of this forum lives in US. How many Muslim Uighurs do you see on this forum and how many have you seen on the internet? ZERO because they are getting raped and getting their organs harvested.

US doesn't care about Muslim's faith, US wanted oil from Muslim lands. At worst, US and these Christians/Jews will do is kill you.

A commie pig loathes Islam and is threatened by it. I don't need to tell you how, just look up history and see how vicious commie pigs have been to Muslims. China is taking this further than it has been in history.

That's not to say US is good, but if you compare evil with China, there's no match.

Here's another fact that proves the evil of China and its supporters. My posts just got deleted that were critical of China and I have been banned more times than I can count for speaking for Uighurs but any dog here can bark against US and get cheered. Our politicians bark against US in election campaign literally Imran Khan elected because he barked all day against IMF and US but when it comes time, where do you think they go begging on their knees? USA and WEST.

Nobody can speak a word against China. Our government legs start shaking from fear of China. How horrible a future it would be if Pakistan was controlled by China.
 
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RealNapster

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Yes, I am aware. USA is giving shahadat (the highest rank) to the Muslim victims. China is forcing atheism down the throats of Uighurs and torturing them until they give up Islam and proclaim Xi Pig as their god. If you are a Muslim, I don't need to tell you what is worst. I would rather be nuked at the hands of kaffir and die as Muslim than live and worship a pig. Life as atheist is worst than death of a Muslim martyr.

If you deny that and put your head in the sand like an Ostrich pretending it's not happening then that's your problem. But don't think China will not do the same treatment to you when they get a chance. And that's exactly what is going to happen when China gets the same control of PK as US has.

Now as far as US is concerned, there is freedom to preach, freedom to practice religion, freedom to expression and half the population of this forum lives in US. How many Muslim Uighurs do you see on this forum and how many have you seen on the internet? ZERO because they are getting raped and getting their organs harvested.

US doesn't care about Muslim's faith, US wanted oil from Muslim lands. At worst, US and these Christians/Jews will do is kill you.

A commie pig loathes Islam and is threatened by it. I don't need to tell you how, just look up history and see how vicious commie pigs have been to Muslims. China is taking this further than it has been in history.

That's not to say US is good, but if you compare evil with China, there's no match.

Here's another fact that proves the evil of China and its supporters. My posts just got deleted that were critical of China and I have been banned more times than I can count for speaking for Uighurs but any dog here can bark against US and get cheered. Our politicians bark against US in election campaign literally Imran Khan elected because he barked all day against IMF and US but when it comes time, where do you think they go begging on their knees? USA and WEST.

Nobody can speak a word against China. Our government legs start shaking from fear of China. How horrible a future it would be if Pakistan was controlled by China.

So basically what you are saying is that killing your Muslim fellows is okay but one shouldn't torture them. ?

This reminds me of a joke. Once Bush, Obama and trump said to a Muslim in a Park that we are going to destroy Iraq and Syria first, we will kill 5 million Muslims there. Then we will go to Libya, split it and kill 2 million more of your brother and sister after which we will do same with Iran. In total we aim to kill 10 million Muslims while destroying 5 Muslims countries. And oh yes, finally we will also kill Katrina Kaif. The Muslim asked, but why Katrina Kaif ? The trio laughed and replied, we knew you will only have objection to that.
 

Maler

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Yes it is my wish and actually if you have read my posts from past I am proposing such a deal since a year.

1. Pakistan failed to get such a consideration from China because we never asked for it. All we keep asking them is for 2-3 billion $ now and then which they always deposit without any problem.

2. Its always a no till you don't ask for it. Only then you know the exact answer.

3. China can not afford a destabilised Pakistan. It is the only Chinese ally which is doing fine (relatively. Everyone else is pretty much fcuked up). The reasons China keep arming Pakistan on concession rate weapons is to keep it able to counter India otherwise Indian major focus shift from Pakistan towards China.

4. It is a friend and pochna to banta hy

And how r u planning to replace Pakistani exports to western countries? Why would they support your exports and GSP+ status after Pakistan sided fully with China? What product Pakistan manufacturers or producers export that can't be replaced from any other country?
 

fisher1

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So basically what you are saying is that killing your Muslim fellows is okay but one shouldn't torture them. ?

This reminds me of a joke. Once Bush, Obama and trump said to a Muslim in a Park that we are going to destroy Iraq and Syria first, we will kill 5 million Muslims there. Then we will go to Libya, split it and kill 2 million more of your brother and sister after which we will do same with Iran. In total we aim to kill 10 million Muslims while destroying 5 Muslims countries. And oh yes, finally we will also kill Katrina Kaif. The Muslim asked, but why Katrina Kaif ? The trio laughed and replied, we knew you will only have objection to that.

To you your grave, to me mine.
 

RealNapster

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And how r u planning to replace Pakistani exports to western countries? Why would they support your exports and GSP+ status after Pakistan sided fully with China? What product Pakistan manufacturers or producers export that can't be replaced from any other country?

Okay. One problem at a time.
 

Wood

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And how r u planning to replace Pakistani exports to western countries? Why would they support your exports and GSP+ status after Pakistan sided fully with China? What product Pakistan manufacturers or producers export that can't be replaced from any other country?
China has a number of small European countries in its pocket. Even German car makers are now heavily influenced by Chinese market. So if China wills for Pakistan to get GSP+ treatment in EU, it will likely be enough.
 

Maler

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China has a number of small European countries in its pocket. Even German car makers are now heavily influenced by Chinese market. So if China wills for Pakistan to get GSP+ treatment in EU, it will likely be enough.

Not possible!!! 1st EU is in complete control of Germans & France! 2nd when it comes to US vs anyone no European countries are in complete in line with US!!! That's why west dominates rest of the world. Combined GDP of west can't be tackled by any country alone!!!
 

Wood

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Not possible!!! 1st EU is in complete control of Germans & France! 2nd when it comes to US vs anyone no European countries are in complete in line with US!!! That's why west dominates rest of the world. Combined GDP of west can't be tackled by any country alone!!!
I do not agree.

Little Lithuania thought that it can disregard China because of its low trade with the behemoth. China threatened to sanction European companies that traded with Lithuania - guess what happened? Germany was the first to pressure Lithuania into changing its stance on Taiwan.

Countries like Hungary etc. are completely in China's pocket. Portugal is completely in China's pocket and its prime minister carries China on its back in EU trade discussions. I see that China's grip of EU is very similar to BCCI's grip on ICC :laugh:

On the other hand, US President Biden made repeated appeals to the EU to take a more aggressive posture with China and Russia. The futility of his efforts led to the frustrated move called AUKUS. The white people are not as united as they would like to be :cheers:
 

Maler

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I do not agree.

Little Lithuania thought that it can disregard China because of its low trade with the behemoth. China threatened to sanction European companies that traded with Lithuania - guess what happened? Germany was the first to pressure Lithuania into changing its stance on Taiwan.

Countries like Hungary etc. are completely in China's pocket. Portugal is completely in China's pocket and its prime minister carries China on its back in EU trade discussions. I see that China's grip of EU is very similar to BCCI's grip on ICC :laugh:

On the other hand, US President Biden made repeated appeals to the EU to take a more aggressive posture with China and Russia. The futility of his efforts led to the frustrated move called AUKUS. The white people are not as united as they would like to be :cheers:

When it comes to core interests, whole west is one I.e. one!!! EU countries you mentioned has no say in EU and their GDP & military might is miniscule in front of western Europe! If Western countries & US stop supporting them, Putin will eat them alive!!!
 

jk007

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So basically what you are saying is that killing your Muslim fellows is okay but one shouldn't torture them. ?

This reminds me of a joke. Once Bush, Obama and trump said to a Muslim in a Park that we are going to destroy Iraq and Syria first, we will kill 5 million Muslims there. Then we will go to Libya, split it and kill 2 million more of your brother and sister after which we will do same with Iran. In total we aim to kill 10 million Muslims while destroying 5 Muslims countries. And oh yes, finally we will also kill Katrina Kaif. The Muslim asked, but why Katrina Kaif ? The trio laughed and replied, we knew you will only have objection to that.
Bad Joke. Actually, it is not even a joke.

USA tried to bring some freedom to these nations. They failed, and learnt a lesson.

But History will be kinder to Bush. Iraq will sustain as a democracy....
 

blueazure

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To you your grave, to me mine.

no point arguing with sino philes on this board

for a starter :-


1 . cultural revolution in china - millions killed by MAO the terrorist in the name of change

2. forced one child policy - killing of demographic

3. continued suppression of dissent, lack of free speech, massive survillence /police state . ( see HK protests )

4. inhumane conditions of the serf class aka chinese factory worker - Foxconn factories using nets so workers dont kill themselves




a deep evil lurks in the core of chinese communist party , its a fascist, control freak bunch of men


problem with pakistanis is = they are eternally in search of an abbu ( first US, now china )
 

fitpOsitive

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Foreign loans soar to $10.4b in Jul-Dec​

Govt borrowing rises 78% to finance budget deficit, build forex reserves

Shahbaz Rana January 27, 2022

loan photo reuters

Loan. PHOTO: REUTERS


ISLAMABAD:
The government borrowed $10.4 billion in the past six months, which was higher by 78% over the same period of last year, as it struggled to address the growing current account imbalance and keep the debt-financed foreign exchange reserves at current levels.
Gross foreign loan disbursements during July-December of current fiscal year remained at $9.3 billion, the Ministry of Economic Affairs reported on Wednesday.
In addition to this, the government received $1.1 billion in foreign loans from the overseas Pakistanis through the Naya Pakistan Certificates, the central bank data showed. The cumulative gross foreign loans secured in the first half of current fiscal year were higher by $4.5 billion, or 78%, from the same period of previous fiscal year, showed the official statistics.
The country is sliding deeper into the debt trap and has reached a point where it is now contracting the most expensive foreign loans in its 75-year history. Successive governments, including the current one, have failed to ensure sufficient inflows through the non-debt creating sources, ie exports and foreign direct investment. However, the remittances – another non-debt creating source – have shown a significant improvement over the past two years.
Information Minister Fawad Chaudhry said last month that the government was taking new loans to pay off the old debt.
The Debt Policy Statement 2021-22 showed that contrary to the claims of the government that the debt burden was increasing due to the repayment of old loans, the external debt repayments, in fact, decreased $2.1 billion, or 23.3%, in the last fiscal year compared to the preceding year.
The highly expensive Naya Pakistan Certificates-backed loans are a new debt instrument that the Pakistan Tehreek-e-Insaf (PTI) government has added to the list. The $1.1 billion loan from July through December of current fiscal year was acquired at 7% interest rate in dollar terms. The foreign loans of $9.3 billion, reported by the Ministry of Economic Affairs, are inclusive of the $3 billion short-term loan received from Saudi Arabia last month.
Read Govt in violation of debt reduction law, cabinet told
However, despite the Saudi Arabian assistance, the gross official foreign exchange reserves dipped to $17.1 billion by mid-January – sufficient to finance hardly 10 weeks of imports.
An amount of $2 billion was received in foreign commercial loans from banks in the first six months of current fiscal year, including $502 million in December.

The government borrowed $1.1 billion from Dubai Bank, including a fresh contract for $420 million.
Another loan of $487 million was taken from Standard Chartered Bank, London, according to the economic affairs ministry. A financing of $343 million was secured from Credit Suisse AG.
Overall, 84% of the loans, or $8.7 billion, were taken for non-productive purposes like budget financing, crude oil import and foreign exchange reserves’ building.
Owing to the increasing reliance on loans to enhance the country’s foreign currency reserves and finance the budget deficit, the cost of debt servicing has gone up significantly.
31643226941-1.jpg

The government’s reliance on highly expensive and short-term foreign debt further increased due to its decision to increase the dependency on foreign commercial banks and Naya Pakistan Certificates. As a result, the average maturity time of external debt deteriorated from last year’s level of seven years to six years and eight months by the end of June 2021. The share of foreign commercial loans has already increased from 11% to 13% in the external public debt. Official statistics showed that bilateral lending to Pakistan almost dried up in the current fiscal year, standing at a mere $94 million so far for project financing. This included $73.4 million in project lending by China. The government has not yet been able to secure a fresh commitment of $6 billion from China for financing the Main Line-I railway project of China-Pakistan Economic Corridor (CPEC).
Read more Pakistan raised $1b through Sukuk bond
Pakistan also obtained loans worth $2.8 billion from multilateral creditors. The Asian Infrastructure Investment Bank released $36 million for project financing.
Amongst other multilateral development partners, the Asian Development Bank (ADB) disbursed $1.1 billion during the July-December period, including $488 million for vaccine procurement.
The World Bank released $932 million in the six months under review while the Islamic Development Bank disbursed $805 million for crude oil imports. The Ministry of Economic Affairs also booked $291 million worth of publicly guaranteed debt, which China disbursed for Karachi’s nuclear power plants, known as K2 and K3.
The government also took $10 million in loan from NBP Bahrain to finance the losses of Roosevelt Hotel, New York, which was owned by the loss-making Pakistan International Airlines.
Published in The Express Tribune, January 27th, 2022.
In the name of Imran khan:
Ay riasat e madina k khuab daikhny waly, yeh khuab us waqt taq pora nai hoga jab tak aapky sathi Abu Bakr RA ya Umer RA jaisy na hongay. Ager riasat e madina bnani Hai tu apny sathi badlo. Or is bat se mat derna keh tumhari hukumrani ka Kia hoga. Jis rab k liay tum achy log laogy, wo itna ghyratmand Hai keh tumhain girnay na dy.
 

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