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Shaukat Tareen appointed Pakistan’s finance minister, third in 2 weeks

Kabira

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Gov is doing right thing. Its not possible to accept all of IMF demands. 35% increase in electricity price in few months will be disaster in the making. Instead it should take few years and with it bring reforms to reduce line losses and theft.

Solution to capacity charges is economic growth and not just increasing tariff.

Reduce defence budget and increase PSDP for development. Pension bomb is another thing taking large share in tax collection now. But unless defence budget is decreased nothing will change. More TLP will emerge. There is no point feeding 7 lakh army soldiers from tax payer money. Instead need to spend on modernizing forces for 21st century warfare. Learn from China for f sake.
 

Bilal.

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Gov is doing right thing. Its not possible to accept all of IMF demands. 35% increase in electricity price in few months will be disaster in the making. Instead it should take few years and with it bring reforms to reduce line losses and theft.

Solution to capacity charges is economic growth and not just increasing tariff.

Reduce defence budget and increase PSDP for development. Pension bomb is another thing taking large share in tax collection now. But unless defence budget is decreased nothing will change. More TLP will emerge. There is no point feeding 7 lakh army soldiers from tax payer money. Instead need to spend on modernizing forces for 21st century warfare. Learn from China for f sake.
And get rid of SOE’s ASAP.
 

Protest_again

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What are we talking about? Imran khan promised to bring talent to the country to fill in the cabinet. Now look at the cabinet, Fawad chaudhary, sheikh Rasheed are the talents?
 

R Wing

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Which raises the question what can we realistically expect from PTI's Naya Pakistan. The answer is nothing much will change in Pakistan for at least a generation or 20/25 years. The problem is the vested order is too deeply entrenched and has religion thrown in as a decoy to detract and obfuscate from any drastic change. The very masses who should be storming in the streets to bring about a social and economic revolution are instead sedated by the mullahs who chase their oen agenda's. Like going after the French, some poor Christian, Ahmedi';s, Shias etc.

So what can we expect? Right now Pakistan's economic has been sabotaged by urban elite/middle class of the largest cities mostly Karachi and Lahore. These lot live a idle life while the 150 million work like animals for a pittance. Most of the PDF members from Pakistan are from this class. The vast majority in Pakistan either can't afford access to internet or don't have time. They need to feed their families in the evening.

What I hope PTI manages to do is lay the seeds of change that sprout in two decades. What do I mean? Bring literacy to the rural Pakistan. Bring health to rural Pakistan. Over a generation that 150 million voiceless will get a voice and bring change about in Pakistan.

When you get PDF'ers from Bannu, Wana, Killah Saifullah, Chitral, Dera Ghazi Khan, Kalat, Khuzdar, Chitral, Bhakker, Vehari, Uch Sharif, Ghotki, Sehwan, Badin etc that make 75% of the population. This will mobilize a vast regions of Pakistan and this will bring about change. Right now we have 15% capture of 95% of the economy.

Only education, education and access to health will release this 75% suppressed potential.

@Norwegian @313ghazi @Yankee-stani @Kharral etc
The way to fix this is not the incremental improvement (that too, debatable "improvement") model that GHQ and the PMO think will save Pakistan.

Only painful, radical, revolutionary reform can save us. Anybody not willing to do that is fighting a losing battle and wasting precious time.

The problem is that too many people in the establishment (army/bureaucracy/judiciary) are enjoying their career trajectories, perks, VIP privileges, land allotments, etc., and are wholly unaffected by the mess the country is in. This is what makes revolutionary change impossible. Having interacted with all manner of officers, this is the number one disease killing us.

Our standards lower every decade; first, at least in Cantts, rules were followed. Now, even that's not the case (blatant traffic violations, trash, etc.) And I'm talking about Lahore Cantt, which is supposed to be one of the better ones --- of course it is hilariously full of civilian houses!) This is a microcosm / small example of the larger issue. Everybody keeps lowering the bar while enjoying the security of their own post. It's terribly sad.

The uncles in power in all institutions are OKAY with this slow "progress." This is the main problem.
 

Bilal Khan (Quwa)

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Gov is doing right thing. Its not possible to accept all of IMF demands. 35% increase in electricity price in few months will be disaster in the making. Instead it should take few years and with it bring reforms to reduce line losses and theft.

Solution to capacity charges is economic growth and not just increasing tariff.

Reduce defence budget and increase PSDP for development. Pension bomb is another thing taking large share in tax collection now. But unless defence budget is decreased nothing will change. More TLP will emerge. There is no point feeding 7 lakh army soldiers from tax payer money. Instead need to spend on modernizing forces for 21st century warfare. Learn from China for f sake.
Ironically this is the one thing the IMF won't touch. They know that for their voice to matter in Pakistan, they'll need the armed forces leadership onboard. It's a stakeholder. However, if they start pinning questions at the military-run SOEs, pensions, wages, benefits, etc, then they'll lose the military.

In reality, the armed forces are going to cut procurement (which does matter for national security), but the questions about SOE management, ancillary economic activities, etc will remain ignored.
 

Norwegian

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Told you Shaukat Tareen is a dinosaur. In his recent meeting with PM and economic advisors he seemed to convince everybody that money printing through artifically low interest rates is the only solution to achieve short term 6-7 percent gdp growth 🤣🤣🤣

We are screwed again as this exact policy resulted in past three balance of payment crisis.
06BD055E-D5EF-4AC9-B241-BFE4DEC92BD2.png

@ziaulislam @Del @Patriot forever @Tameem @muhammadhafeezmalik @ghazi52 @farok84 @waz @Path-Finder @313ghazi @HRK @FOOLS_NIGHTMARE @Indus Pakistan @Verve @koolio
 

ziaulislam

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Told you Shaukat Tareen is a dinosaur. In his recent meeting with PM and economic advisors he seemed to convince everybody that money printing through artifically low interest rates is the only solution to achieve short term 6-7 percent gdp growth 🤣🤣🤣

We are screwed again as this exact policy resulted in past three balance of payment crisis.
View attachment 735042
@ziaulislam @Del @Patriot forever @Tameem @muhammadhafeezmalik @ghazi52 @farok84 @waz @Path-Finder @313ghazi @HRK @FOOLS_NIGHTMARE @Indus Pakistan @Verve @koolio
He is right
But to what extent will this lead to CAD
I said before govt acheive an over kill(needed given lack of market confidence) so now it can relax it hands abit. But will it overdo it or not?

Will the govt be able to keep CAD less then 2% while ensuring a smooth flow of already negoiated foregn inflows and keep reserves at growing pace..

We will know that soon but as i said before PTI may sccub to the populist demand of low interest rates and printing notes..it seems that will be happening to some degree...to what degree is the real question
 

Patriot forever

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Told you Shaukat Tareen is a dinosaur. In his recent meeting with PM and economic advisors he seemed to convince everybody that money printing through artifically low interest rates is the only solution to achieve short term 6-7 percent gdp growth 🤣🤣🤣

We are screwed again as this exact policy resulted in past three balance of payment crisis.
View attachment 735042
@ziaulislam @Del @Patriot forever @Tameem @muhammadhafeezmalik @ghazi52 @farok84 @waz @Path-Finder @313ghazi @HRK @FOOLS_NIGHTMARE @Indus Pakistan @Verve @koolio
SBP printers are collecting rust, as SBP chairman himself said government has not used state bank to borrow money for past 2 1/2 years and is using banks to raise money.

Bro I might have missed something but there is nothing in the video which says what you wrote.

I will repeat what I said earlier. Tareen is there to renegotiate with the imf. The electricity price hike is not acceptable and will prove to be counter productive.
Finance ministry hard work is mostly covered, Hammad Azhar has just been moved from a comfy sofa to a steel chair with nails (power ministry) which will demand everything he has to offer. I am excited to see what he brings to power ministry.

Our economy is very stable at the moment, furthermore the fundamentals are on point so we are able to absorb any untoward unexpected shock.
Our import cover is at almost 4 months.
Our rupee has stabilized at market value, and will fluctuate up and down in a natural manner to mitigate any unbalance like a rubber band. (for example in case of high imports to a point where current account comes under stress due to increase demand of dollar, rupee will move upward resulting in expensive and lesser imports and vice versa)
Our forward swap liabilities as of now stands around 25% to our overall reserves, which were 90% in 2018.

Please keep in mind imf programme is necessary, given our interest and principal maturing debt.

GDP growth will cross 4% next year and 5-6% naturally in FY2023. This year so far it's above expectation. Increase the power tariff by imf recommendation will kill this growth so to renegotiate is our only option. If Tareen fails to renegotiate he will loose the chair.
 

ziaulislam

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BS... I am a PTI supporter.... And I say this is a stupid move by Imran Khan. He needs to get this important ministry right or resign. Ever hear a Patwari or PeePeePee supporter say that??
His track record isnt good but lot of this power of printing notes lay with raza baqir not FM alone

So i would hold and see what happens..

With power crisis the solution is getting DESCO privitized, GENCOs closed and some deals renegoiated(most diff part)..hold new IPPs and increase electric consumption(tarrif increase wil nt help)

But some areas tarrif increase is needed especially domestic consumers with very high usage and some commerical users
SBP printers are collecting rust, as SBP chairman himself said government has not used state bank to borrow money for past 2 1/2 years and is using banks to raise money.

Bro I might have missed something but there is nothing in the video which says what you wrote.

I will repeat what I said earlier. Tareen is there to renegotiate with the imf. The electricity price hike is not acceptable and will prove to be counter productive.
Finance ministry hard work is mostly covered, Hammad Azhar has just been moved from a comfy sofa to a steel chair with nails (power ministry) which will demand everything he has to offer. I am excited to see what he brings to power ministry.

Our economy is very stable at the moment, furthermore the fundamentals are on point so we are able to absorb any untoward unexpected shock.
Our import cover is at almost 4 months.
Our rupee has stabilized at market value, and will fluctuate up and down in a natural manner to mitigate any unbalance like a rubber band. (for example in case of high imports to a point where current account comes under stress due to increase demand of dollar, rupee will move upward resulting in expensive and lesser imports and vice versa)
Our forward swap liabilities as of now stands around 25% to our overall reserves, which were 90% in 2018.

Please keep in mind imf programme is necessary, given our interest and principal maturing debt.

GDP growth will cross 4% next year and 5-6% naturally in FY2023. This year so far it's above expectation. Increase the power tariff by imf recommendation will kill this growth so to renegotiate is our only option. If Tareen fails to renegotiate he will loose the chair.
Key is to limit state bank borrowing while increasing revenues and negiating with IMF to get middle ground on power sector..
W

What are we talking about? Imran khan promised to bring talent to the country to fill in the cabinet. Now look at the cabinet, Fawad chaudhary, sheikh Rasheed are the talents?
Whats wrong with fawad chuadry and sheikh rasheed..both seems suited for their role?
 

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