What's new

Govt moves to ‘cool down’ an ‘over heating’ economy

Patriot forever

SENIOR MEMBER
Jun 2, 2020
2,487
4
4,771
Country
Pakistan
Location
Pakistan
I do not lie 3 times not even 1 time. Wait for October as i told you and your post were false and based on PTI twitter BS.

I told in simple words before posting you just need to see budget speech that is it nothing more or nothing less because you believe too much PTI twitter slides that are all BS.

Grow up and have a life and loyalty to any party will not give you anything.

1) First you quoted June last year figure, and tried to pass it off as this year.

2) You never provided source of Raza Baqir 9%.

3) You based your argument on preminilary budget speech, which was ammended and alot of changes made. Why not quote SBP/finance ministry target final figure?
😂 The final target has been set at 2-3% for FY 2022 since the start of year.

Learn to have a sensible argument, and behave when called out for bullshit. Sofar the only one who is political in this thread is you.

The real danger that lies in Oct imf decision is from power sector, we agree for the hike or not will determine the outcome. If we do not get to an understanding with imf, either we slow down or follow plmn policy to a complete disaster is upto the government.
 

Desprado

BANNED
Jun 30, 2018
682
-6
555
Country
Pakistan
Location
Pakistan
1) First you quoted June last year figure, and tried to pass it off as this year.

2) You never provided source of Raza Baqir 9%.

3) You based your argument on preminilary budget speech, which was ammended and alot of changes made. Why not quote SBP/finance ministry target final figure?
😂 The final target has been set at 2-3% for FY 2022.

Learn to have a sensible argument, and behave when called out for bullshit. Sofar the only one who is political in this thread is you.

The real danger that lies in Oct imf decision is from power sector, we agree for the hike or not will determine the outcome. If not either we slow down or follow plmn policy to a complete disaster is upto the government.
It means you did not read my post what i said in June 2021 that is why called BS not Bullshit. Learn common sense bro.

You go through my June 2021 and tell where i said PMLN Policy was superb?

I said among them all PPP is far better PTI and PMLN when it comes external matter.

PTI=PMLN=PTI=PMLN both have same policy.
 

Tomcats

FULL MEMBER
Jan 24, 2020
1,195
0
1,352
Country
Pakistan
Location
Pakistan
@Desprado What do you think of Atif Mian's policies for the short time he was here, was he a good pick with his team?
The real danger that lies in Oct imf decision is from power sector, we agree for the hike or not will determine the outcome. If not either we slow down or follow plmn policy to a complete disaster is upto the government.
I would also keep in mind the US factor, the IMF decision that will be taken will decide on the current situation/future of Pak-American relations as well.
 

Desprado

BANNED
Jun 30, 2018
682
-6
555
Country
Pakistan
Location
Pakistan
@Desprado What do you think of Atif Mian's policies for the short time he was here, was he a good pick with his team?

I would also keep in mind the US factor, the IMF decision that will be taken will decide on the current situation/future of Pak-American relations as well.
I supported Imran Khan 3 years because he was right and Hafez was doing 100% right job but since June 2021 Imran Khan has lost it and he wants same faith as PMLQ and Shaukat Tarin will make sure that Imran Khan never wins any kind of election.
I am telling Pakistan cannot afford to go without IMF program now and it is must for Pakistan and we will start IMF program whatever it takes the matter is not Imran Khan hands now and matter gone into hands "he who remains".
@Desprado What do you think of Atif Mian's policies for the short time he was here, was he a good pick with his team?

I would also keep in mind the US factor, the IMF decision that will be taken will decide on the current situation/future of Pak-American relations as well.
I am telling Pakistan cannot afford to go without IMF program now and it is must for Pakistan and we will start IMF program whatever it takes the matter is not Imran Khan hands now and matter gone into hands "he who remains".
 
Last edited:

Desprado

BANNED
Jun 30, 2018
682
-6
555
Country
Pakistan
Location
Pakistan
This is what's driving the uncertainity.

IMF is very crutial.

I hope IMF is not used the same way as FATF.
We will resume Program whatever condition they give us because Imran Khan knows he has created a mess in just 4 months by hiring Shaukat tarin and IMF will approve our Program because USA does not want Pakistan also suffer economically than the whole region will suffer.

We will come out from FATF grey list to White List inshallah next year early or mid.
 

Tomcats

FULL MEMBER
Jan 24, 2020
1,195
0
1,352
Country
Pakistan
Location
Pakistan
I hope IMF is not used the same way as FATF.
It will all depend on how the US views Pakistan's help in Afghanistan or specifically Kabul, did Pak do enough for them or for the other western states to which they consider it good enough. What i can say is that this narrative of 'recognize Taliban' being pushed by certain people at the moment is not good timing and regressive in what it wants to achieve.
 

Desprado

BANNED
Jun 30, 2018
682
-6
555
Country
Pakistan
Location
Pakistan
It will all depend on how the US views Pakistan's help in Afghanistan or specifically Kabul, did Pak do enough for them or for the other western states to which they consider it good enough. What i can say is that this narrative of 'recognize Taliban' being pushed by certain people at the moment is not good timing and regressive in what it wants to achieve.
Insallah it will start but do not hope for concession.

"Despite the changing global scenario, the IMF will accept the government’s programme and the review talks will be successful, said Dr Nadeem ul Haque, Vice Chancellor of Pakistan Institute of Development Economics and a former official of the IMF."


Now the program will be more hard than 2019 you can bet on that.


If USA wanted to play role than Pakistan GSP+ status would have been in doubt and UK would not have taken out Pakistan from Red list.
 

Tomcats

FULL MEMBER
Jan 24, 2020
1,195
0
1,352
Country
Pakistan
Location
Pakistan
Now the program will be more hard than 2019 you can bet on that.


If USA wanted to play role than Pakistan GSP+ status would have been in doubt and UK would not have taken out Pakistan from Red list.
Yep that is for sure the terms will not be as good as before,

Indeed, so far indicators point to them being somewhat satisfied with Pakistan for the moment.
 

Desprado

BANNED
Jun 30, 2018
682
-6
555
Country
Pakistan
Location
Pakistan
Yep that is for sure the terms will not be as good as before,

Indeed, so far indicators point to them being somewhat satisfied with Pakistan for the moment.
Yes things will not be like before they will only release money for Pakistan when we do fully condition of 6th view, 7th, etc.
 

ziaulislam

ELITE MEMBER
Apr 22, 2010
16,736
10
16,686
Country
Pakistan
Location
United States
Haha. I am not the one who lied 3 times. Given you have to resort to lying I can safely deduce you are a paid worker. 😂

What will happen to your prediction if September CAD is lower?

Besides 2.3b in 2 months is 13-14b not 18b. 😂

With the measures being taken no where will our CAD run close to even 15b. Will be around our projected target of 2-3% maybe a couple of billion more for TERF and vaccine imports.
Things will ease out in the later half of FY as crude output is increased (cuts rolled back completely).
The delimma patwaris have is thatuptill now they were saying current account deficit is good and great and growth is important
Now when PTI has gone beyond their growth rate of 5.18 in 2018 they are saying growth at cost of CAD is bad ..in the process bad mouthing the "great nawaj sharif"

I think they should pick up thr inflation mantra..for one that would work since its global and its a delayed manifestation of devaluation
 

POPEYE-Sailor

FULL MEMBER
Jan 15, 2006
1,451
-4
1,692
Country
Pakistan
Location
Saudi Arabia
Govt moves to ‘cool down’ an ‘over heating’ economy
Finance Minister Tarin announces restrictive measures t slow down growth
Shahbaz Rana| September 23, 2021

finance minister shaukat tarin photo express

Finance Minister Shaukat Tarin. PHOTO: EXPRESS

Finance Minister Shaukat Tarin announced on Wednesday to take restrictive measures to “cool down” an “over heating” economy, marking the beginning of reversal of expansionary fiscal policies after external sector vulnerabilities exposed sooner than expected.
“It has been decided to introduce a 100% cash margin requirement for imports and impose regulatory duties to curb imports of non-essential items,” Tarin told a press conference – his second in less than 10 days to respond to increasing criticism over higher inflation.
“If [the new] measures are not taken, the economy could grow at more than 5% rate and this is the time to control the growth rate, the finance minister told the reporters, while explaining the reasons behind taking these measures.
“My concern is that the economy may overheat and there could be exchange rate related problems if the GDP growth rate exceeds above 5% annually,” he added, while responding to a question from The Express Tribune.
Before the budget, Tarin had been cautioned about the adverse impact of expansionary fiscal policies but the minister at that time had opined that the economy can sustain over 6% growth rate, finance ministry sources said.
Introduction of cash margins –where the importers are required to deposit cash in dollars in advance—and regulatory duties are considered import restrictive measures that are usually discouraged by the International Monetary Fund (IMF).
The government decided to take these steps after the two-month import bill exceeded $12 billion and the central bank called for urgent measures. The State Bank of Pakistan (SBP) has already increased the discount rate by 0.25% while also signalling a further increase at an appropriate time.
The SBP policy statement also pointed out things that the federal government has to do to minimise threats to external sector stability.
The message in the central bank’s monetary policy statement was that so far the reliance was only on exchange rate too and there was also a need to use monetary policy and fiscal policy tools “to cool down” the economy, said the finance minister.
“The fiscal side acceleration needs to be reduced to lower the heat and we are now closely monitoring the fiscal policy,” Tarin added. He said that fiscal operations were in line with the projections during the current fiscal year but the finance ministry was monitoring the situation.


Doubtful petrol prices comparison
Tarin and Special Assistant to Prime Minister on National Food Security Jamshed Cheema claimed during the press conference that petrol prices were the cheapest in Pakistan compared to the region. Compared with Rs123 per litre price in Pakistan, “the petrol price in India is 250 rupees per litre and 198 in Bangladesh”, Tarin said.
“The per-litre petrol price in Mumbai is Rs105.92,” an Indian journalist, who is a member of the South Asian Society for Economic Reporters (SASER), said. The SASER is an association for business and economic reporters of South Asia.
“It’s 90 taka per litre in Bangladesh,” said another SASER member journalist from Bangladesh. One litre petrol price is 157 rupees in Sri Lanka , according to a SASER member from Sri Lanka. The Nepalese SASER member said that the petrol was being sold at 129 in local rupee.
In order to avoid growing criticism, the government gave controversial figures by translating regional countries’ petrol prices by applying rupee-dollar parity. The Pakistani rupee closed at Rs168.68 to a dollar on Wednesday, compared with around Rs74 to a dollar Indian price. Even Afghani rupee is far stronger than Pakistani rupee.
The finance minister said that it has also been decided to slash taxes on edible oil to reduce their prices by Rs45 to Rs50 per kg. “The government will offer direct food subsidies to 40 to 42% people on the edible items,” he said.
Sugar will be available at Rs89.75 per kg across the country and wheat flour at Rs55 per kg for everyone and Rs43 for the poor people, said Cheema.
While commenting on the IMF talks, Tarin said that the power sector will be an issue and “we will try to find a solution to that”. He added: “There is no prior action on the power sector and everything will be discussed during these talks.” He again said that increasing tariffs was not a solution to the power sector’s problems.
The minister said that the government has shown progress in the revenue collection during the current fiscal year and it would expand the tax base by using technology. “Pakistan and the IMF are expected to begin programme review talks from October 4.”
Responding to a question about his six months ministerial term that is going to end on October 15th, the finance minister said, “I am not going anywhere and I have trust in the prime minister’s promise of getting me elected as senator.”
However, Imran Khan has not yet announced a schedule for his election, as it will require at least 23 days from the point of getting a seat vacated by a sitting senator and electing a new senator in his place.

@Desprado the most laughed at member here is proven right once again

@Patriot forever @AZ1 @Path-Finder @Del @Dual Wielder @ziaulislam @Mav3rick @farok84

Aaagaya tou Jawan ho ky.
Welcome back..!!
 

Patriot forever

SENIOR MEMBER
Jun 2, 2020
2,487
4
4,771
Country
Pakistan
Location
Pakistan
It will all depend on how the US views Pakistan's help in Afghanistan or specifically Kabul, did Pak do enough for them or for the other western states to which they consider it good enough. What i can say is that this narrative of 'recognize Taliban' being pushed by certain people at the moment is not good timing and regressive in what it wants to achieve.

This is a choice state of Pakistan has to make. Taliban are a reality and it is vital for Pakistan to maintain friendly relations. If we do not and make the wrong choices our enemies will fill the void. Relation with Afghanistan have to be seen from a strategic and long term perspective not some knee jerk reaction dictated by IMF and FATF. The consequences will be far more devastating than any IMF shock.

This is why I say our past deeds have got us into a situation where we can easily be controlled and manipulated at the whims of outside powers. 'The dark decade' where instead of correcting and strengthening the fundamentals in our economy to support our growing population we relied on short term artifical extremely damaging policies, which made us vulnerable.
 

AZADPAKISTAN2009

ELITE MEMBER
Sep 8, 2009
33,691
65
35,624
Country
Pakistan
Location
China
Mr Shaukat Tareen is a old gentleman of 70 years age
Thank you for the services to Pakistan

However if it is fit , Pakistan should move towards 50 years age for such a post

Economics is simple common sense it is not so complicated that you start pointing fingers left and right

  • Sugar consumption can be reduced as it is not most important asset in world
  • Tea consumption should be rationed so people drink it once a day only not 4-5 time a day
  • 500-1000 Electric buses ideally should be introduced quickly in big cities to reduce Petrol Usage (Emergency Measure)

Malaysia has excessive Edible Oil
  • I am sure we can get get some supplies to cool down edible oil shortages, as quantity of oil will rise in market the prices / demand will slow

Remaining Item is just Flour / Wheat
  • Government should simplify the process and have 1 Single Price for Rich & Poor (Home Roti Cooking)

  • Increase Price on Four Sales to Restaurants - if people wish to buy from Restaurants they pay more (Tandoori Roti etc). And I know every one once a week wants to buy from Resturant , Chikken Tikka or Chicken Karhai or Nihari etc and 4-5 Tandoori Roti flies easily no one complains about bill The Rich take their family 4-8 people to restaurants


"PRICE FALLS WHEN THERE IS TOO MUCH OF SOMETHING IN MARKET"



If people's buying habits are controlled prices will easily drop
 
Last edited:

Users Who Are Viewing This Thread (Total: 1, Members: 0, Guests: 1)


Top Bottom