Fitch downgrades Pakistan’s rating citing ‘worsening liquidity, policy risks’

[kmc_chacko]

Pakistan All at Sea as Chinese Shipping Firm COSCO Stops Container Deliveries​

China’s state-owned major shipping company COSCO has suspended Pakistan’s container deliveries without advance payment. The firm has also decided to collect the various local charges and taxes to be paid in Pakistan first.

Market traders in Karachi confirmed this, saying China is refusing orders from Pakistan and demanding “full payments in advance".

They said that the State Bank of Pakistan is not allowing Letters of Credit (LCs) and more than 11,000 import payment cases and orders are Pending with the SBP.

The traders said that Chinese companies are saying there is a dollar crisis in Pakistan, and the container rent and surcharges have to be paid first.

Pakistan’s market gurus are clamouring for the cash-strapped government to allow manufacturing materials stuck at Karachi port into the country, warning that a failure to lift a ban on imports will leave millions jobless.

Alongside a shortage of raw materials, soaring inflation, rising fuel costs, and a plummeting currency have battered manufacturing industries.

Read full article at

Exclusive | Pakistan All at Sea as Chinese Shipping Firm COSCO Stops Container Deliveries - News18

The company has demanded advance payment for deliveries. Pakistan's market gurus are clamouring for the cash-strapped government to allow manufacturing materials stuck at Karachi port into the country, warning that a failure to lift a ban on imports will leave millions jobless

www.news18.com

is true or just a hoax ?

 

[datafreak]

@Clutch @epebble

There is a little matter of civilisational history and memory to consider. For the last 7000 years, people of the IVC aka Pakistanis of the cis Indus provinces have fed and clothed themselves and governed themselves at least at the local available. (They have also fed clothed and at times "entertained" folks from Central Asia from time to time, albeit somewhat unwillingly). That reality is not going to vanish anytime. Pakistan can never become Somalia or Afghanistan.

Regards

Please send me whatever you're smoking. I really need it.

Pakistan All at Sea as Chinese Shipping Firm COSCO Stops Container Deliveries​

China’s state-owned major shipping company COSCO has suspended Pakistan’s container deliveries without advance payment. The firm has also decided to collect the various local charges and taxes to be paid in Pakistan first.

Market traders in Karachi confirmed this, saying China is refusing orders from Pakistan and demanding “full payments in advance".

They said that the State Bank of Pakistan is not allowing Letters of Credit (LCs) and more than 11,000 import payment cases and orders are Pending with the SBP.

The traders said that Chinese companies are saying there is a dollar crisis in Pakistan, and the container rent and surcharges have to be paid first.

Pakistan’s market gurus are clamouring for the cash-strapped government to allow manufacturing materials stuck at Karachi port into the country, warning that a failure to lift a ban on imports will leave millions jobless.

Alongside a shortage of raw materials, soaring inflation, rising fuel costs, and a plummeting currency have battered manufacturing industries.

Read full article at

Exclusive | Pakistan All at Sea as Chinese Shipping Firm COSCO Stops Container Deliveries - News18

The company has demanded advance payment for deliveries. Pakistan's market gurus are clamouring for the cash-strapped government to allow manufacturing materials stuck at Karachi port into the country, warning that a failure to lift a ban on imports will leave millions jobless

www.news18.com

is true or just a hoax ?

I heard somewhere that the only country that's refusing to push out payments is China. Apparently they're the ones saying 'don't care if you go down but gimme my money'. A evry curious development if that is the case,

 

[hembo]

I heard somewhere that the only country that's refusing to push out payments is China. Apparently they're the ones saying 'don't care if you go down but gimme my money'. A evry curious development if that is the case,

https://twitter.com/x/status/1625776177838231554

 

[Burger_King]

Imagine if this was around AD 1000 and Mahmud's army was poised to enter "Hind" on the way to raid Somnath.

What would be the equivalent of Somnath raid today? India has around USD 500bn in reserves but most of it is represented by digits in global central bank accounts such as balances held at the FED, ECB etc. Indian central bank will also hold gold as a part of the reserves. According to my calculation, Indian physical gold reserves stand at c.USD 50bn which certainly is a substantial amount.

Now imagine the party of Mehmud successfully defeats the forces of darkness and gets access to Indian reserves (physical as well as virtual). Would this treasure be as beneficial for Mehmud in 2023 as it was in AD 1000?

My answer would be no. To paraphrase that famous remark, you cannot eat gold. Gold is treated as a valuable commodity because it has acted as medium of exchange for most of human history. The concept of fiat money is only fifty years old and came by default.

Modern day Mehmud would lose access to Indian currency reserves since his government would face sanctions because India is an ally of NATO as well as of Russia. And gold holdings would not be off much use either. To operate Indian economy, Mehmud would need oil which India, like Pakistan has to import. And since Mehmud's government will be under sanctions, no government will exchange Mehmud's gold for oil. So sovereign gold acquired in 2023 would have no value which was not the case in AD 1000.

So how should enemies of India achieve the goals which Mehmud did in Ad 1000? Recent developments in Pakistan provide a clue. To damage India, enemies would have to create a situation which leads India towards financial distress. One way this can be achieved is by putting in government, traitors and criminals who would run the country into the ground with active connivance of the enemy. In 2023 therefore, would be Mehmud would have to adapt a different strategy than he did in AD 1000.

Pakistani army takes a strong chunk of the budget which awam willingly pays as a price of freedom. But the strategy army uses seems outdated to me or as they say, generals are always fighting the last war or in the case of Pakistan, a war fought 1000 years ago.

One way financial viability is gauged is by credit rating. Pakistan's credit rating has been on a downward trend since heyday of Musharraf. But over the last year there has been a marked deterioration and country is now on the verge of ruin and loss of freedom.

Who should we blame for the state of affairs? The traitors and criminals who did what comes naturally to them? Or the forces that allowed the enemy to strike at the heart of Pakistan?

To me answer is clear.

 

[SoulSpokesman]

@Burger_King

Excellent post- although it takes some time and repeat readings for the import of what you say to sink in.

Regards

 

[KingMamba]

@Burger_King

Your analysis is spot on, which means it probably will go unnoticed.

 

[SoulSpokesman]

@datafreak

Please send me whatever you're smoking. I really need it.

Tim Horton's coffee

Pakistanis give biggest-ever opening to coffee giant Tim Hortons amid economic crisis

Tim Hortons in Pakistan amid economic crisis: Amid the worst economic crisis and record inflation in decades, Pakistanis have reportedly given the biggest-ever opening to Canadian coffee giant Tim Hortons, which opened its new store in DHA Lahore. After opening, a long queue was seen outside the...

www.businesstoday.in

Regards

 

[datafreak]

Imagine if this was around AD 1000 and Mahmud's army was poised to enter "Hind" on the way to raid Somnath.

What would be the equivalent of Somnath raid today? India has around USD 500bn in reserves but most of it is represented by digits in global central bank accounts such as balances held at the FED, ECB etc. Indian central bank will also hold gold as a part of the reserves. According to my calculation, Indian physical gold reserves stand at c.USD 50bn which certainly is a substantial amount.

Now imagine the party of Mehmud successfully defeats the forces of darkness and gets access to Indian reserves (physical as well as virtual). Would this treasure be as beneficial for Mehmud in 2023 as it was in AD 1000?

My answer would be no. To paraphrase that famous remark, you cannot eat gold. Gold is treated as a valuable commodity because it has acted as medium of exchange for most of human history. The concept of fiat money is only fifty years old and came by default.

Modern day Mehmud would lose access to Indian currency reserves since his government would face sanctions because India is an ally of NATO as well as of Russia. And gold holdings would not be off much use either. To operate Indian economy, Mehmud would need oil which India, like Pakistan has to import. And since Mehmud's government will be under sanctions, no government will exchange Mehmud's gold for oil. So sovereign gold acquired in 2023 would have no value which was not the case in AD 1000.

So how should enemies of India achieve the goals which Mehmud did in Ad 1000? Recent developments in Pakistan provide a clue. To damage India, enemies would have to create a situation which leads India towards financial distress. One way this can be achieved is by putting in government, traitors and criminals who would run the country into the ground with active connivance of the enemy. In 2023 therefore, would be Mehmud would have to adapt a different strategy than he did in AD 1000.

Pakistani army takes a strong chunk of the budget which awam willingly pays as a price of freedom. But the strategy army uses seems outdated to me or as they say, generals are always fighting the last war or in the case of Pakistan, a war fought 1000 years ago.

One way financial viability is gauged is by credit rating. Pakistan's credit rating has been on a downward trend since heyday of Musharraf. But over the last year there has been a marked deterioration and country is now on the verge of ruin and loss of freedom.

Who should we blame for the state of affairs? The traitors and criminals who did what comes naturally to them? Or the forces that allowed the enemy to strike at the heart of Pakistan?

To me answer is clear.

I think the more important point is 'mehmud' was a thief and in today's world will be treated as one. He is not sanctioned by america because 'India is a NATO ally' but because the idea that a theif just rides into another man's land and steal the monmey he has earned is no longer acceptable to the world community.

The only wealth acceptable is one that the country has made for itself and mehmud will be thrown into prison the first time he stole/murdered/attacked...well before he became an international criminal.

 

[Olympus81]

You want to get yourself upgraded?

Charge 4% transaction fees on buy and selling of plots.

The price of plots based on ‘actual’ value.

Any sale of plots before 5 years will be subject to capital gains tax.

 

[epebble]

You think there is law and order in Pakistan?

ROFLMAO.

It is all relative. Would you rather live in Pakistan or in Afghanistan or Somalia?

 

[Burger_King]

I think the more important point is 'mehmud' was a thief and in today's world will be treated as one. He is not sanctioned by america because 'India is a NATO ally' but because the idea that a theif just rides into another man's land and steal the monmey he has earned is no longer acceptable to the world community.

The only wealth acceptable is one that the country has made for itself and mehmud will be thrown into prison the first time he stole/murdered/attacked...well before he became an international criminal.

Actually no as far as India is concerned.

Russia has launched an illegal invasion of Ukraine. Western powers have condemned Russian invasion and put sanctions on Russia which is the right thing from a moral perspective.

In contrast to Western response, India is dancing on the grave of innocent victims of Russian invasion while engaging in war profiteering by buying cheap sanctioned Russian oil. So West certainly has moved on but India is still stuck in AD 1000.

 

[datafreak]

Actually no as far as India is concerned.

Russia has launched an illegal invasion of Ukraine. Western powers have condemned Russian invasion and put sanctions on Russia which is the right thing from a moral perspective.

In contrast to Western response, India is dancing on the grave of innocent victims of Russian invasion while engaging in war profiteering by buying cheap sanctioned Russian oil. So West certainly has moved on but India is still stuck in AD 1000.

West has only itself to blame. If they had not supported Pak for decades, we would not have become so close to Russia.

 

[SaadH]

West has only itself to blame. If they had not supported Pak for decades, we would not have become so close to Russia.

Oh is that why you lot were begging the same Americans to send in his Airforce to bomb the Chinese who were whipping your butts in '62.

 

[indushek]

Actually no as far as India is concerned.

Russia has launched an illegal invasion of Ukraine. Western powers have condemned Russian invasion and put sanctions on Russia which is the right thing from a moral perspective.

In contrast to Western response, India is dancing on the grave of innocent victims of Russian invasion while engaging in war profiteering by buying cheap sanctioned Russian oil. So West certainly has moved on but India is still stuck in AD 1000.

Seems to be hardly the case you present

West doesn't seem to mind, buying Russian oil from 'new sources'.

West keeps sending defensive equipment only to Ukraine, while they ask for offensive ones. There is talk of F16 for Ukraine but after how long, and how many lives lost? A morally upright person with power like West, which isn't one country by the way, would have sent in weapons that can end this war decisively by the party they support.

Many forget that it's West in a way, who brought about this war through NATO expansion plans more or less.

We don't have to go till 1000 AD, just remember the invasion of Iraq in search of WMD to see how morally upright West is.

Fact of the matter is, countries take stances according to their policy interests etc, moral and immoral has nothing to do with it. (9 out of 10 times surely)

While I dislike whataboutery, just to make you understand, Pakistan is selling ammunition to Ukraine. Like you I won't call it war profiteering, cause that's what any intelligent nation should do and I don't see anything wrong in what Pakistan has done by sending ammo to Ukraine. Act in a way that your country's interest is served, and India is doing the same.

Even if I have to take your morality argument and justify my country's actions (which no nation state will usually decide to base their decisions upon), India is being moral actually which am sure you haven't thought about given our differences. Why is it so? We are helping a friendly nation, who has been with us in every time we were in trouble. Abandoning them when they need our help, is the most immoral thing I will say (or anyone else will say for that matter, am sure you will agree too that washing your hands off a friend who stood by you in every point of your trouble, when he needs you the most is immoral?).