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Trade deficit peaks at $39.3 billion

Wood

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Pakistan also gets deferred oil payment from Saudi for about $1.5 billion. Moving completely to Russian crude will have both political and economic impact that PTI infographics will choose to not highlight :disagree:
 
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Black Tornado

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So you are saying that pakistan shouldnt invest $1B upgrade refinery to dave $6 billion every year?

Take loan of $1B even on higher interest if it saves us $6 billion every year
For that you’ll have to buy ALL your oil from Russia to save $6bn, not possible. India has increased it’s oil purchases from Russia still can’t save much. Why don’t you guys blend ethanol in Petrol like we do? We blend 10% ethanol and save 10% on potential oil imports every year.
 

pikkuboss

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Pakistan also gets differed oil payment from Saudi for about $1.5 billion. Moving completely to Russian crude will have both political and economic impact that PTI infographics will choose to not highlight :disagree:
Also they are taking about 100% of import from Russia. I have never heard of a country importing 100% from a single source. For that Pakistan have to convert all their refineries to Uran grade which is impossible.
 

AZ1

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Also they are taking about 100% of import from Russia. I have never heard of a country importing 100% from a single source. For that Pakistan have to convert all their refineries to Uran grade which is impossible.
as expert said we already have few refineries that can use oil from russia.

why cant we not use from one source? currently our major oil import or all from Saudia? atleast having two source will make our place much better in terms of bargaining.
 

AZ1

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Thanks to IK destructive economic policies, it will take years to rebuild our economy back to 2017-18 level.
No one will support ur claim because currently exports, remittance and reserves left by PTI way much higher than what PMLN coult achieve in 3 times this is the 4th time they are in govt.
 

Cheepek

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Cut down import or go on imrannkhan path this shows what imrannkhan was going to do for pakistan

import oil bill monthly $1.8B. yearly around $21B. Get oil from russia 30% will save $6.5B yearly that is our IMF program for 3 years.
No, your monthly crude oil import isn't $1.8B, it's ~$300M - ~$500M.
A nice share of it is on deferred payments etc.

Major cost in your oil imports is petro products ($600M- ~$1.2B), a chunk of which comes from China.

Your government is not always stupid, buying oil @30% discount is still ~70$ per barrel which you have to pay upfront. Now look at your reserves.
 

Olympus81

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The economy that PMLN crooks have inherited is in better shape.

It’s just that they are too intellectually dishonest to take it further.

You don’t need to be a rocket scientist here.

Cut down on non essential imports by increasing the tax slab.

Start importing oil / wheat from Russia (won’t happen obviously). Diversify your oil suppliers.

Localize manufacturing within Pakistan by providing good policies (like mobile phone manufacturing for instance).

Dont sign up power plants deals like Sahiwal coal power plan on exorbitant return rates and where you have to import coal at the same time like PMLN.

Focus on dams which PTI did. Once they come online and the IPP projects expire you will eventually come out of that vicious debt cycle.

Focus on renewable energy projects.

Focus on small farmers and teach them ways to achieve high yield and at the same time help them get good rates for their produce. Olive production has sky rocketed lately.

This is all possible. You just need common sense.
 

Death Adder

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No one will support ur claim because currently exports, remittance and reserves left by PTI way much higher than what PMLN coult achieve in 3 times this is the 4th time they are in govt.

If his policies were that good, opposition and Army will never be able boot him out from office that too at 11:59 AM. 😂😂
 

AZ1

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If his policies were that good, opposition and Army will never be able boot him out from office that too at 11:59 AM. 😂😂
By this definition, nawaz booted out from office 2-3 times so how come their policy are good?


Inflation now is all times high, even hamza shahbaz chicken business price is higher than ever.

No, your monthly crude oil import isn't $1.8B, it's ~$300M - ~$500M.
A nice share of it is on deferred payments etc.

Major cost in your oil imports is petro products ($600M- ~$1.2B), a chunk of which comes from China.

Your government is not always stupid, buying oil @30% discount is still ~70$ per barrel which you have to pay upfront. Now look at your reserves.
share the source
 

Death Adder

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By this definition, nawaz booted out from office 2-3 times so how come their policy are good?


Inflation now is all times high, even hamza shahbaz chicken business price is higher than ever.


share the source

It’s all due to IK, he didn’t do anything for economy.
 

Falconless

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It's not that easy sir. How did you calculate $6.5B saving? 😅 Pakistan doesn't have any refinery that can refine Russian oil. You would need to invest 1 billion dollar to upgrade refineries before you can import Russian oil. Pakistan neither has money to invest in oil refineries and no other country will finance/build those refineries if it is for Russian oil at this moment.
Oh bhai do cargo swaps, we already do those for LNG.
 

Destranator

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Take care of the rates, slow down the consumption.
Bad idea. Increasing rates will hurt businesses. It will hardly have any impact on consumer spending as Pakistan is a cash based society.

Imports bill needs to be slashed down by $5 billions immediately. Increase in Oil and gas prices is not helping infact it is the main cause of heavy import bill.
Need to bring more products under the luxury category and ban/restrict imports. Stop issuing Letters of Credit for rubbish import requests.
 

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