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6.1 billions USD from Roshan Digital account gone missing.

Has this news been confirmed? And if so, any indication when it occurred?
 
How was the money supposed to be used? You know that Pakistan can't pay high interests on those deposits by taking that money and keeping it locked in a steel box? Depositors should have known that the money will be used. The ability of the borrower to return the money depends on ability to earn more money than the deposits. if that doesn't happen, deposits can't be paid back. Even well-run banks sometimes fail world over. So, the 'missing' money didn't vaporize. It was used by Pakistan. If you didn't intend the money to be used, the only safe place was a steel box.
 
epebble said:
How was the money supposed to be used? You know that Pakistan can't pay high interests on those deposits by taking that money and keeping it locked in a steel box? Depositors should have known that the money will be used. The ability of the borrower to return the money depends on ability to earn more money than the deposits. if that doesn't happen, deposits can't be paid back. Even well-run banks sometimes fail world over. So, the 'missing' money didn't vaporize. It was used by Pakistan. If you didn't intend the money to be used, the only safe place was a steel box.
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The majority of the deposits were sent based on trust in the elected government of the PTI.

No one wanted the unconstitutional overthrow of the PTI government by the Fauj+PDM Junta and the fascist crackdown and demolition of the economy that followed.
 
AgNoStiC MuSliM said:
The majority of the deposits were sent based on trust in the elected government of the PTI.

No one wanted the unconstitutional overthrow of the PTI government by the Fauj+PDM Junta and the fascist crackdown and demolition of the economy that followed.
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Trust is not equal to credit worthiness. The proper question is how often Pakistan has paid back the deposits without borrowing more from somebody else.
 
epebble said:
Trust is not equal to credit worthiness. The proper question is how often Pakistan has paid back the deposits without borrowing more from somebody else.
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Credit worthiness is based on trust in policy continuity. Good credit ratings at a point in time can be destroyed by poor decision making.

Yes, people take risks, and had the PTI government completed its term, and genuine free and fair elections occurred and the market still tanked, I would accept that.

The Fauji+PDM junta conspiring with the US to overthrow a democratically elected PTI government and then destroying the economy was not a natural/organic series of events and therefore blame cannot be placed on depositors/investors.
 
Doubt this report, yes people have withdrawn their deposits.
 
AgNoStiC MuSliM said:
Credit worthiness is based on trust in policy continuity. Good credit ratings at a point in time can be destroyed by poor decision making.

Yes, people take risks, and had the PTI government completed its term, and genuine free and fair elections occurred and the market still tanked, I would accept that.

The Fauji+PDM junta conspiring with the US to overthrow a democratically elected PTI government and then destroying the economy was not a natural/organic series of events and therefore blame cannot be placed on depositors/investors.
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The point is, at the time of taking deposits, by any measure, Pakistan was not credit worthy. That is why they decided to pay above market rate interest to non-residents. So, the depositors should have realized they are making a risky deposit. I know it is easy to blame current government etc., The reality is depositors made a high-risk investment and as all high-risk investments go, some of them fail. When an insurance company writes policies, they know some people will have accidents, some people will die, some houses will catch fire etc., They can't pretend to be surprised when bad things happen.
 
epebble said:
The point is, at the time of taking deposits, by any measure, Pakistan was not credit worthy. That is why they decided to pay above market rate interest to non-residents. So, the depositors should have realized they are making a risky deposit. I know it is easy to blame current government etc., The reality is depositors made a high-risk investment and as all high-risk investments go, some of them fail. When an insurance company writes policies, they know some people will have accidents, some people will die, some houses will catch fire etc., They can't pretend to be surprised when bad things happen.
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You’re missing the point I’m making - natural disasters, global economy tanking, commodity prices spiking, poor decision making by an elected government, even a conflict with India - those are all in some way ‘organic potential risks’ and people were and are willing to take them.

A US backed overthrow by the Fauj+PDM Junta is and was not a natural or organic series of events and therefore the blame lies with those who carried out and supported the Fauji coup.
 
AgNoStiC MuSliM said:
A US backed overthrow by the Fauj+PDM Junta is and was not a natural or organic series of events and therefore the blame lies with those who carried out and supported the Fauji coup.
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I disagree with that premise. Even then, taking that as true, it comes under the category of sovereign risk. For example, a month back, if I had called my investment advisor and showed interest in buying a few million dollars of Niger government bonds, he would have advised me that the government is unstable and there might be a coup anytime and I might lose my investment. Pakistan has had so many coups that anyone with common sense would have anticipated the possibility of a coup.
 
The Imran Khan government had gained the trust of overseas Pakistanis, who were encouraged to deposit their money in Roshan Digital Accounts. Responding to this call, we contributed a significant amount of 6 billion dollars, with the expectation of reaching approximately 25 billion dollars within the next three years. This all started when Saudi Arabia requested the repayment of borrowed funds, and the IMF was hesitant to provide financial assistance to Pakistan. In response, overseas Pakistanis came for help.

Unfortunately, when a regime change operation, initiated by the USA and executed by the Mir bajwa and mir anjam nadeem followed by asim munir and the Pakistan Democratic Movement (PDM) comprising 13 parties, took place. As overseas Pakistanis, we became increasingly convinced that our deposited funds were at risk and might not be returned. This situation can be likened to leaving a vulnerable cat unattended near a source of milk. Our worries were justified, and it is evident that Pakistan is currently facing significant challenges.

It is khan who can safe this country
 
if my money gone missing i swear dar would be dead under my car tyre then i reverse it over him to make sure.
 

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