Country to achieve $20 billion forex reserves mark soon: Dar

[Fracker]

List of countries by foreign-exchange reserves - Wikipedia, the free encyclopedia
View attachment 247202

From 66 to 57, it's a Big jump..

Well done Pakistan.. But do improve eexports to sustain this growth..

 

[RazorMC]

Sorry but this is laughable.

Forex reserves don't define the state of economy. While this is an achievement of some sort, it only means that we might have enough to pay for our imports after paying interest on foreign debts.

From 66 to 57, it's a Big jump..

Well done Pakistan.. But do improve eexports to sustain this growth..

So you are assuming other nations are just sitting waiting for our Forex to grow?

 

[Faiez]

Neither. Its growing because of the investment coming into Pakistan from foreign investment companies. Which is the BEST thing. The US economy has trillions of foreign investments into it.

The Turks, the Chinese, the Russians and the US companies have started to invest in Pakistan so you'll see these numbers grow. Each time, a new project like Metro bus, a Dam or parts of CPEC start, that means the foreign reserves took a positive hit as the money was sent to Pakistan to support equipment, material, transportation, taxes, vendor and labor payments, etc.

Take one good thorough look at this, And never ever talk BS ever again EVER !

All of this data is from the state bank :

http://www.sbp.org.pk/ecodata/Balancepayment_BPM6.pdf

http://www.sbp.org.pk/ecodata/pakdebt.pdf

http://www.sbp.org.pk/ecodata/Profile.pdf

http://www.sbp.org.pk/ecodata/Summary.pdf

-The current account is in deficit.
-Massive deficit in trade balance which has increased from last year.
-Exports have actually declined by almost 4%.
-Adding debt like crazy.

*Plus ruppee figures are not reliable due to SBP interference in market (they keep pumping in forex to keep dollar close to 100, when naturally under free market conditions it should have crossed 110 by now). Over-valued dollar is hurting exports.

The only thing keeping the country sort of alive is the remittances which have risen sharply and the sharp drop in oil prices. Both of which are not in the government control AT ALL. It's an external factor as far as the government is concerned.

 

[Fracker]

So you are assuming other nations are just sitting waiting for our Forex to grow?

It depends, what are their priorities... And i don't know anyone of these countries.. I am just looking at chart and assuming due to figures.

 

[RazorMC]

It depends, what are their priorities... And i don't know anyone of these countries.. I am just looking at chart and assuming due to figures.

Those figures do not reflect current numbers.

 

[ice_man]

why are indians so obsessed with our FOREX RESERVES.

chill boys

 

[Blue Marlin]

Don't worry, those countries haven't been locked in a 14+ year long war like Pakistan is

i dont need to worry, i never do, unless matters concern me personally.

 

[Spectre]

No one was even talking about India. It was about Pakistan's growth. You don't want to be bit*ched out, play fair and factual. That's it.

Please read my entire post. India was mentioned in context that it will pull away FDI from Pakistan being its competitor offering essentially similar services and goods to global economy. It is a buyer's market and what i said essentially was Pakistan has to compete with India. That's all

Read this guys part in bold. There is sheer hostility coming out of his post when there was no need to, and there are 0 facts!!! And that's a civil discussion? This is "classic trolling" in everyone's books

Ok, I can't say much if you don't understand what hostility means. If holding a mirror to set expectations right is called hostility in you book then I guess no further discussion is necessary.

There is no hatred in my post. I just warned him, calling me names, questioning my flag like idiots or doing anything won't be tolerated as that's what the Indian members do. You guys don't write back facts but start to question other person and troll. So there is no hatred here. I am willing to debate nicely. No personal stuff!!! Here is a quote from his post. You can CLEARLY see where he was headed with this:

Not much hatred agreed, but just barely concealed insecurity and obstinate behavior.

@Force-India @Manindra thanks for your responses but this guy is beyond reason.

 

[Faiez]

@Viper0011. : Where have you disappeared now ???

I have presented you with facts and figures straight from the state bank of Pakistan. What do you have to say about that ?

 

[Mr.Nair]

List of countries by foreign-exchange reserves - Wikipedia, the free encyclopedia
View attachment 247202

Surprised to see that bangladesh have much larger forex reserve than pakistan

 

[Blue Marlin]

Surprised to see that bangladesh have much larger forex reserve than pakistan

thats what i thought at first too

 

[Manindra]

thats what i thought at first too

Only forex reserve are not measures of any country's financial condition (Bangladesh is doing well compared to Pakistan imo) neither nearly bankrupt Argentina have more than $33 billion in her kitty.

 

[Viper0011.]

Take one good thorough look at this, And never ever talk BS ever again EVER !

All of this data is from the state bank :
http://www.sbp.org.pk/ecodata/Balancepayment_BPM6.pdf
http://www.sbp.org.pk/ecodata/pakdebt.pdf
http://www.sbp.org.pk/ecodata/Profile.pdf
http://www.sbp.org.pk/ecodata/Summary.pdf

-The current account is in deficit.
-Massive deficit in trade balance which has increased from last year.
-Exports have actually declined by almost 4%.
-Adding debt like crazy.

*Plus ruppee figures are not reliable due to SBP interference in market (they keep pumping in forex to keep dollar close to 100, when naturally under free market conditions it should have crossed 110 by now). Over-valued dollar is hurting exports.

The only thing keeping the country sort of alive is the remittances which have risen sharply and the sharp drop in oil prices. Both of which are not in the government control AT ALL. It's an external factor as far as the government is concerned.

If you don't have command over a topic, try not to sound like an Einstein on it. If you are THAT big of an expert on economy, then help me understand the ledger sheets you posted and how they relate to the economy, its growth, its investments coming in, what do you see as a FUTURE for the Pakistani nation, what do you see getting done by 2018 in terms of large projects and all.

When you do a good write up and if it meets BASIC standards like a writing you'd expect from an MBA student (and General MBA at that), I'll write you back.

Unlike you and two dozens IK fans on here, I don't BS. I am not power hungry, nor do I want to be your PM. And nor am I 64 and SO WORRIED about my old age that I'd be more than happy to damage a poor country and a nation of 200 MILLION people, just so I can be a PM (talk about GREED for power!!!). And I am definitely not caring for Pakistan because I have a stake in it. For the record, IK's wife is about 50 times smarter than him. That's a person who should be running the political campaign.

On the little documents you posted, I did review them and I spend good 30 minutes making sure I understand the data provided in them. None of these documents have any details on the issue we were discussing. Care to link the logic that obviously existing in your head, with the topic? So we may understand your hidden points, rude post and the smartness that thy bring to us??? The documents you provided include (in order):

1) Payments and GDP (till May)
2) Debt and Liquidation / Leverage
3) External Debt and Liabilities and Liquidity Ratios
4) Debt and Liabilities

Only forex reserve are not measures of any country's financial condition (Bangladesh is doing well compared to Pakistan imo) neither nearly bankrupt Argentina have more than $33 billion in her kitty.

I agree. You have to look at the Micro, Macro and the global economy as a whole. The global economy's current and potential future response to a country's policies and system before forecasting anything. People from Bloomberg, Morgan Stanley, PWC and McKinzey and other economic assessment houses have been doing this work since WWII. And they have forecasted a revised BRICS strategy with Pakistan in it (BRICS + 11). The good thing to see here is that Pakistan is actually on the track that others project for her. Growing amounts in the checking account (just the starting right now), mean there is work being done and foreigners are opening up to investments.

 

[Gufi]

The 3-4 G spectrum' sold a few months ago, are going to be bringing in their payments in increments too. So overall good traction and confidence building with foreign investors.

enough please Google the external and internal debt in these 2 years... Try facts, most of these loans we are taking are going to cover inflated budgets, rather than austerity, there is a wasteful extravagance in needless projects started.

The tax base has not increased, no positive tax laws have been made, rather there is more taxes added on middle class consumers and there are hardly any left. The tax exemptions in this budget shows how sincere this government is. Come back to Pakistan and try not to read reports and judge how things are.

 

[Viper0011.]

enough please Google the external and internal debt in these 2 years... Try facts, most of these loans we are taking are going to cover inflated budgets, rather than austerity, there is a wasteful extravagance in needless projects started.

The tax base has not increased, no positive tax laws have been made, rather there is more taxes added on middle class consumers and there are hardly any left. The tax exemptions in this budget shows how sincere this government is. Come back to Pakistan and try not to read reports and judge how things are.

Based on your analysis and the other guy's analysis I responded to, if all you guys are saying is true, Pakistan should be going down and it should be bankrupt in the next three years. In fact it was projected to go bankrupt in three months when NS came in 2012, but its running since. And other countries decided to pour billion in, which ONLY happens when you have policies and a system to recover someone's investments and give them profit.

1) So based on your statements, Pakistan should go bankrupt in the next 2-3 years? Please answer in less than two lines.

2) Pakistan had a few millions left in her bank account. Today, there are $ 19 billion. If the NS and the team haven't done anything to help Pakistan, how did the $ 19 billion come about? All you accusatory members, can someone show me a straight forward document outlining all the loans NS got and that piled up to $ 19 billion? It should be pretty simple if this is all loan money. And we all know, Pakistan hasn't been getting a whole lot of loans.

Can you or a friend of yours or even IK provide such a simple document? And if there is none and you can't back up or explain how a few millions and near bankruptcy.....your country went to having $ 19 billion in her savings, that means none of you haters have ANY idea how this works. And all this talk about "this is the loan money", is B.S!!!!

So please answer number 1 and provide a document in SIMPLE line items to all loans that would make up the $ 19 billion. Leave everything else out.