• Thursday, May 23, 2019

"If we probe corruption, progress will stop" - Nawaz Sharif

Discussion in 'Pakistani Siasat' started by notorious_eagle, May 9, 2017.

  1. notorious_eagle

    notorious_eagle PDF THINK TANK: CONSULTANT

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    What a third class person our Prime Minister is. He is supporting corruption 100%. It's such a shame that we have people in Pakistan and even some people on this very forum who think corruption is a great thing for the country. Lanat on these people and our corruption king prime minister.
     
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  2. Path-Finder

    Path-Finder ELITE MEMBER

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    Mian ji's doom are many and their merasi thinking will will be the downfall of Pakistan. In their eyes mian ji's tooi's curvature has more importance than the nation.
     
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  3. Hassan Guy

    Hassan Guy SENIOR MEMBER

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    Screen Shot 2017-05-09 at 2.45.27 AM.png
    Screen Shot 2017-05-09 at 2.45.35 AM.png
    .....ye we still have some time
     
  4. Thəorətic Muslim

    Thəorətic Muslim SENIOR MEMBER

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    Every Pakistani hates corruption but finds it necessary to "grease the wheels".

    This culture wasn't overnight but gradual rotting has taken over much more than one would find otherwise for even reporting a FIR a few rupees have to change hands.

    Sadly once this rot is removed people would be complaining that governance is too slow.

     
  5. Mansoon

    Mansoon BANNED

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    Shukria_Nawaz_Shareef
     
  6. Imad.Khan

    Imad.Khan SENIOR MEMBER

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    Man i can't believe people support this moron. He can't even talk from himself and needs a freakin paper to read from. He has no vision, no leadership skills, no morality, no personality, i can go on and on. Zombie baboons is the perfect word description of people that follow this guy
     
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  7. Thəorətic Muslim

    Thəorətic Muslim SENIOR MEMBER

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    Shukria Pakistani Awaam.
     
  8. Realistic Change

    Realistic Change FULL MEMBER

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    @Imad.Khan - You mean his reading, writing, grammar as well as differentiation between masculine and feminine is also weak? Hence he referred Michelle Obama as Mr. Obama - lol




    I think he must have studied from his brother's project of Daanish School or his previous school system of which were large majority were ghost schools and whose teachers had to work only on one day in 5 years - as polling agents!
     
    Last edited: May 9, 2017
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  9. srshkmr

    srshkmr FULL MEMBER

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    These freaking politicians everywhere around the globe say "if they probe corruption progress will stop".

    What progress ? Progress of getting more money sucked out of the poor ?
     
  10. tarrar

    tarrar SENIOR MEMBER

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    All ganja & gadari know is how to lie, protect their DEMOCRAZY, corruption & treachery.
     
  11. WaLeEdK2

    WaLeEdK2 SENIOR MEMBER

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  12. Realistic Change

    Realistic Change FULL MEMBER

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    Which progress this dimwit (N$) is talking about - this ?!?

    Experienced team of PMLN under the tutelage of a so-called genius Finance Minister. Pretty impressive - No?!?

    Moody's says Pakistan's external debt will increase to $79 billion
    By Shahbaz Rana
    Published: May 8, 2017


    ISLAMABAD: Moody’s Investors Service has predicted that Pakistan’s external debt will grow to $79 billion by June this year, higher than initial estimates suggested, and the country’s weak fiscal strength will weigh in on its ability to afford the ever growing debt burden.

    In its latest report, Moody’s Investors Service – the international credit rating agency – said that Pakistan’s challenges include a relatively high general government debt burden, weak physical and social infrastructure, a fragile external payments position and high political risk.

    By the end of fiscal year 2016-17, Pakistan’s external debt will increase to $79 billion out of which the public sector component will be $77.7 billion, according to Moody’s. The forecast for the outgoing fiscal year is much higher than what was earlier assessed on the basis of data released by the State Bank of Pakistan.




    The central bank had shown total external debt and liabilities at $74.2 billion by the end of December 2016. This included $64.5 billion external debt.

    [​IMG]

    Pakistan’s external debt rises faster than foreign currency earnings

    Moody’s report has shown external debt at $64.4 billion by the end of fiscal year 2013. If the debt grows to $79 billion, it means that an additional $14.6 billion in debt has been added in the past four years alone.

    The PML-N government is facing criticism for increasing the country’s debt burden, which is a direct result of low levels of exports and foreign direct investment.

    The government’s narrow revenue base weighs on debt affordability and the level of external public debt poses a moderate degree of credit risk, according to the report. Meanwhile, exports and remittance inflows have slowed and capital goods imports have risen, resulting in renewed pressure on the external account.

    Moody’s assessed Pakistan’s fiscal strength at negative “(-) Very Low”, which it said was hindering debt affordability and increases the debt burden. It said Pakistan’s limited tax base restricts its fiscal space, while low savings and shallow capital markets hinder stable domestic financing of sizeable budget deficits.

    Pakistan’s external debt likely to swell to $110b in four years

    “Very Low (-)” score is below the indicative score of “Very Low”, which reflects that the material foreign currency portion of outstanding government debt (about 30% of total debt) exposes the government’s balance sheet to greater foreign exchange rate risks than currently captured by scorecard metrics,” it said.

    The government’s debt burden has steadily increased in the past four years from 63.5% of GDP to 66.5%, Moody’s said. “At 66.5% of GDP, the debt stock is higher than the 52.6% median for B-rated sovereigns and remains a constraint on Pakistan’s fiscal strength.”

    Moody’s has retained Pakistan’s position at B3 rating.

    “Approximate 30% of foreign currency debt does expose the sovereign (Pakistan) to marked changes in the cost of refinancing debt should the currency weaken abruptly,” according to the report.

    Debt affordability metrics, which include interest payments as a percentage of revenues and GDP, have been high in Pakistan relative to the median for B-rated sovereigns, which is a key constraint on the sovereign credit rating.

    Fitch affirms Pakistan at ‘B’; outlook deemed stable

    The credit rating agency acknowledged that Pakistan was addressing this weakness by lengthening debt maturities, through increasing the share of permanent debt and reducing that of floating debt.

    However, it said that foreign remittances have so far declined 2.4% and “if remittances continue to decline, it would likely have a negative credit impact by dampening consumption and widening the current account deficit”.

    Moody’s has also assessed Pakistan’s susceptibility to event risk as “High,” driven by political risks and government liquidity risks stemming from high gross borrowing needs, due to the government’s large rollover requirements.

    It said that large fiscal deficits and a reliance on short-term debt have contributed to very high gross borrowing requirements, which is a key rating constraint. At 32% of GDP, Pakistan’s gross borrowing need in 2017 is the largest among all rated sovereigns, after Egypt.

    Like external debt, Moody’s has also projected higher budget deficit for the outgoing fiscal year. “We expect that the fiscal deficit will widen further to about 4.7% of GDP in fiscal year 2017 and 5% in FY 2018 despite the government’s intention to advance fiscal consolidation.”

    Fitch assigns rating to Pakistan’s Sukuk

    The National Assembly had approved the budget deficit target at 3.8% of the GDP, which the finance minister has already termed unachievable.

    At 4.7% of GDP, budget deficit forecast is even higher than the International Monetary Fund’s (IMF) estimates of 4.5%.


    The Moody’s said that the wider deficit will be driven by revenue shortfalls due to political pressure to keep current temporary tax breaks in place for the agricultural sector and exporters, and reluctance to increase the sales tax on petroleum products amid rising global oil prices.

    In addition, the need to increase development spending – particularly related to CPEC power infrastructure investments – combined with political pressure to maintain power subsidies in advance of the 2018 general election, will likely weigh on the deficit, it added.

    The rating agency has also said that the reforms agenda initiated under the IMF programme could be stalled ahead of elections. “We believe structural reforms to PSEs will continue to face political opposition in parliament and through potential labour strikes, therefore, we do not expect the government to follow through with an ambitious post-IMF programme structural reform push in advance of the 2018 general election.”
     
  13. Super Falcon

    Super Falcon ELITE MEMBER

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    Yes prices of corruption will stop which u don't want
     
  14. Zen0

    Zen0 BANNED

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    Did he really say that?