Being a finance person through and through even I am worried now, problem is we can goddamn print all the PKR currency notes we need, but we cannot print dollars the mode of financial exchange. approx 27 billion dollar payments are due in the next 3 years means roughly 9 billion dollars a year, our CAD is net negative and frankly I don't see a way how to repay that money. N.S paying roughly 7 billion dollars may be, 1 year gone what about the next two and that damn debt trap the f**king Chinese have put us in through their OBOR/CPEC ($47 billion) there are no tariffs for Chinese vehicles traveling on these roads which will be made and paid by our hard earned money. Remember these are all commercial loans and carry substantial interest rates in dollar terms. The money coming in from chinese/arabs its all commercial loans and carry markup we have to pay them back. This precarious economic situation is double worry because CAD means we have nothing for defense procurement with enemies sitting along all borders we are in deep sh**. My suggestion would be to declare emergency as soon as IMF payment for this year is managed, get rid of this sick judicial system, get the money back from all corrupt I mean all including bureaucrats the saudi way without any foreign healthcare facilities/travel to any one. Unfortunately despite hating negativity I don't see a way out, increasing exports is the only way but what would we export? bangladesh in the last 10 years has become the 2nd largest exporter of shirts worldwide, vietnam which is still a shithole till late 90s had nothing now they are exporting 200 billion dollars worth of products. To improve exports it will have to be 10 years plan, identify the products/markets, start building the units, start training people required for that product thats the only way I see. IKs vision of getting the looted money back even if it goes through (although I have my serious doubts about it) doesnot solve the long term problem, how to increase the exports?
Honestly I am expecting that we should default let the international players take everything from us, may be a new start will put us on right track this time.
I have gone through every minutes of the FATF meeting and I have yet to find a single fault with it, of course there are political influences, but in reality there are very serious problems in our financial system and this is the collective problem of the incompetent and corrupt regulators like SBP/SECP/FBR. Every regulation they bring in (for over 14 year) me being a noob could right away find a loop hole in it, why cant these excessively paid as***oles do the same, you speak with them and you get the feeling these people are living in a lala land where they think they know every thing from adam to d-day. easier to criticize going to IMF but difficult to come up with a viable solution, oil discovery news flopped drilling is going to be stopped probably by 10th may, our iron brother screwed us for almost 8 years in sandak mining free gold/silver/copper and now the firm has defaulted. RekoDik is still far in the future, in salt range probably gold copper is being mined illegally, there are reserves of copper/gold when you go from Kohat to Bannu on the right side you will see red soil, bingo.
In our private thread you rightly pointed out that software export particularly cybersec is one area where we could start earning hefty money in less than a year, but is there a platform where people are thinking in that direction, any body's guess...
as its not only monitor incoming but outgoing flow as well and on that oint PPP,PMLN and every corrupt of Pakistan agreed and used their all pawns in bureaucracy,media and every where. They proved they are not going to do any good for Pakistan not going to allow others too so better that way that system is rotten and alternate is not going to happened until Army and other powerful institutes does not come on same page but sad to say they are also just watching afraid of doing anything
