‘Friends of Pakistan will help country in a systematic way’: No cash for bailout: US

[batmannow]

You may be right.

because , both were chosen by, our super guns, (ZIA & MUSHARAF),at least both were , patriotic, and had morale courge?

 

[ejaz007]

Aid from ‘friends’ now conditional: Tareen

* Finance adviser unfolds government’s strategy to combat country’s economic crisis

LAHORE: The ‘Friends of Pakistan’ forum has made its financial aid to Pakistan conditional on the International Monetary Fund’s (IMF) certification of the country’s economic programme, Geo News quoted Finance Adviser Shaukat Tareen as saying on Wednesday.

As talks with international financial institutions and the IMF continued, Tareen told the media after the Senate session in Islamabad that Pakistan had already been asked to submit its economic programme with the fund. Tareen said the IMF had also already reviewed the option of discounting the economic programme in the provision of financial aid. He told the media that financial aid from the ‘Friends of Pakistan’ would be warmly welcomed.

The finance adviser earlier told the Senate that a loan from the IMF would be used as a last resort. He also told the House about the government’s plan to deal with the economic crisis – which would be based on consolidating foreign exchange reserves, reducing the fiscal deficit, cutting down expenditure, agriculture-and manufacturing-led growth, a safety net for the poor and human resource development. Briefing the members on the current situation, he said the country’s economy was in shambles.

The government would have no other option but to go to the IMF in case it did not get $4 to $5 billion from elsewhere over the next 15-20 days, he added. Tareen said the government wanted funds from the IMF on Pakistan’s terms. He said Pakistan would have to increase its tax to GDP ratio to get out of the current situation. Leader of the House Senator Raza Rabbani and several other senators, however, opposed the IMF option. staff report/daily times monitor

Daily Times - Leading News Resource of Pakistan

 

[muse]

If you review a thread on the strategic board "Basketcase.." you will note some of the problems Mr. tareen now says Pakistan will have to solve -- So, the obvious question: Why did Mr. Tareen and the politicians throw such a hissy when they knew these problems had to be dealt with?

Note:

Tareen said the government wanted funds from the IMF on Pakistan’s terms. He said Pakistan would have to increase its tax to GDP ratio to get out of the current situation

Of course these are Pakistani politicians so it goes without saying that insulting the intelligence of ordinary people for them is "de rigeur", you will note "...on Pakistan's terms".

Now, we can also understand the hissy fit, how?

He said Pakistan would have to increase its tax to GDP ratio to get out of the current situation

- That's right, the politicians will have to follow through on more of the hated "dictator" Pervaiz Musharraf's policies -- and it just may be that agriculture may end up being a segment of the economy that will no longer enjoy a tax holiday, and that means politicians (read feudal lords) and their friends (read feudal lords) may have to actually pay taxes -- yes, unlikely, lets keep our fingers crossed.

 

[Interceptor]

If you review a thread on the strategic board "Basketcase.." you will note some of the problems Mr. tareen now says Pakistan will have to solve -- So, the obvious question: Why did Mr. Tareen and the politicians throw such a hissy when they knew these problems had to be dealt with?

No Idea where you came up with that, the debate was on well before this gov, it was matter of time when it shined up as our first top priority, unfortunately we have been bickering on other issues, and following from a transition to demorcracy we have to start back from step one building the economy and repairing the damage left by a single dogma.

Note:

Of course these are Pakistani politicians so it goes without saying that insulting the intelligence of ordinary people for them is "de rigeur", you will note "...on Pakistan's terms".

Why keep every option closed! It is far better to consider all options and have complete plans ready for each case, where is that wrong. IMF may not be pleasant but it is an option, the so called amazing economy of Musharraf is nowhere to see, inflation has reached nearly 25%, our import to export ratio is ridicules; which has destroyed most of the industry because we were more on the lines of consumption economy more in less out, bad loans were taken you have to realize we were led by monkeys in uniforms.

Now, we can also understand the hissy fit, how? - That's right, the politicians will have to follow through on more of the hated "dictator" Pervaiz Musharraf's policies -- and it just may be that agriculture may end up being a segment of the economy that will no longer enjoy a tax holiday, and that means politicians (read feudal lords) and their friends (read feudal lords) may have to actually pay taxes -- yes, unlikely, lets keep our fingers crossed.

You mean the policy of sell, sell and sell, , Pakistan isnt run by cronie banker Shauket aziz who left us in tatters, we had an amazing economy during Musharraf era... yeah selling literally anything that gave us income. Selling KESC has given us great push to the end, what makes you think that Musharraf had good policies for the economy even his own goons tell us the blunders their gov did in the Parliament.

 

[Interceptor]

because , both were chosen by, our super guns, (ZIA & MUSHARAF),at least both were , patriotic, and had morale courge?

Yeah left us with WOT for life.

 

[Interceptor]

You may be right.

But remember he was voted unanimously by every Party that includes PML-Q(Musharraf's Party). So you should remember even tyrants stooges voted for a democratic PM.

 

[daredevil]

BBC NEWS | South Asia | Pakistan 'needs IMF loans soon'

Pakistan 'needs IMF loans soon'

The German Foreign Minister, Frank-Walter Steinmeier, has said that Pakistan has just "a few days" to raise billions of dollars in foreign loans.

After meeting senior members of the government, he said that Pakistan had no choice but to seek a loan from the International Monetary Fund (IMF).

Mr Steinmeier said that the loan was needed to avoid a deepening crisis.

Economists say that the country needs up to $15bn over the next 24 months to stabilise the economy.

They say that can best be achieved by sustained foreign assistance and investment in the agricultural, industrial and energy sectors.

Meanwhile the Pakistani army has said it has halted the construction of a new multi-million dollar headquarters in Islamabad because of the economic turmoil.

A military spokesman said that army chief, Gen Ashfaq Kiyani, has decided to suspend construction of a $210 million new headquarters which would have housed all three military services.

Correspondents say that even before the economic crisis set in, critics had derided it as a waste of money.

"About 10 percent of work has been completed but we felt it should be halted as we understand the nation's quest for economic stability and want to help," the spokesman told the Reuters news agency.

Correspondents say that work on the headquarters began last year on a plot of land in the foothills of the Himalayas.

Little assistance

Mr Steinmeier said that an IMF loan was necessary so that Pakistan could avoid "the most difficult situation".

"I hope the decision (with the IMF) will be taken soon. It won't help to have it in six months, or six weeks. Rather, we need it in the coming six days," Mr Steinmeier said at a joint news conference conference with his Pakistani counterpart, Shah Mehmood Qureshi.

"We will support your country in the negotiations with the IMF," he said.

The German foreign minister said Germany - as Europe's biggest economy - was willing along with other countries to discuss a separate package of assistance for Pakistan to boost faltering economic growth.

"That is the only way to stabilise the situation," Mr Steinmeier said.

Correspondents say that Pakistan's seven-month-old government has been reluctant to go to the IMF and has been looking for help from friendly governments - but so far little assistance has materialised.

The BBC's M Ilyas Khan says that the country has plenty of long-term commitments from a group of countries called the Friends of Pakistan, but any default on international obligations in the short term may hurt its ability to attract future investment.

Our correspondent says that the decision by two of its closest allies, China and Saudi Arabia, to decline providing cash for an immediate bailout means that only one short-term window remains open, that of the IMF, with its strategy of achieving stabilisation by cutting growth.

With donors pre-occupied with their own financial problems because of the worldwide financial crisis, experts say that many countries would apparently prefer to wait for IMF involvement before they lend Pakistan money, because that would make the country more financially disciplined.

Pakistan has said that it has not yet formally asked the IMF for a loan, but an IMF spokesman said on Friday talks going on in Dubai between the fund and Pakistani officials would enable the IMF to respond swiftly should a request be made.

 

[Neo]

S Arabia to give $4b to Pakistan​

By MUBASHIR HASAN

MADINA - Saudi Arabia has agreed to give $4 billion to Pakistan and provide oil facility on one-year deferred payments.

It has been learnt from reliable sources privy to the meeting held here the other day between King Abdullah bin Abdul Aziz and President Asif Ali Zardari. Advisor to Prime Minister on Finance Shaukat Tarin assisted the President during the meeting.

‘A formal announcement in this regard will be made at the meeting of the ‘Friends of Pakistan’ to be held on November 17 at Abu Dhabi’, said the source, adding, that Pakistan was aiming to accumulate $25 billion, which were being considered enough for bringing the economy back on track for the next 10 years.

‘Moreover, King Abdullah during the one-on-one meeting with Zardari has also agreed to provide oil to Pakistan on one-year deferred payments, for which the agreement is expected to be signed soon’, confided the source to The Nation, maintaining that President’s visit had come at a time when Pakistan direly needed money to tide over its trade and budget deficits.

Moreover, Pakistan had contemplated a short-term loan from the International Monetary Fund, but sources said this would be its last resort, given the IMF’s stringent conditions.

‘An oil facility from Saudi Arabia could help the country avoid the IMF loan, or at least put it on a better footing to negotiate for more favourable conditions’.

Prime Minister Syed Yousuf Raza Gilani had requested the Saudi govt for the deferred oil payments during his visit to Saudi Arabia in July, mentioned the source.

The sources said Zardari had held talks with King Abdullah during a two-day visit, and the two leaders had also discussed the recent Saudi initiative in bringing the Afghan government and Taliban leaders to the dialogue table. ‘Economic, political and military cooperation between the two countries goes back several decades. Both the leaders are expected to sign a number of agreements on cooperation and investment in various sectors, while Zardari is also expected to ask Saudi businessmen to invest in Pakistan’s various sectors’, said the sources.

Sources said Pakistan needed more than $5b within a month to meet its international obligations.

‘The Friends of Pakistan’ nations include the US, UK, France, Saudi Arabia, China, the UAE and several other countries, which are meeting in Abu Dhabi on November 17 to devise ways for stabilising Pakistan’s economy’, added the source.

 

[batmannow]

S Arabia to give $4b to Pakistan​

By MUBASHIR HASAN

MADINA - Saudi Arabia has agreed to give $4 billion to Pakistan and provide oil facility on one-year deferred payments.

It has been learnt from reliable sources privy to the meeting held here the other day between King Abdullah bin Abdul Aziz and President Asif Ali Zardari. Advisor to Prime Minister on Finance Shaukat Tarin assisted the President during the meeting.

‘A formal announcement in this regard will be made at the meeting of the ‘Friends of Pakistan’ to be held on November 17 at Abu Dhabi’, said the source, adding, that Pakistan was aiming to accumulate $25 billion, which were being considered enough for bringing the economy back on track for the next 10 years.

‘Moreover, King Abdullah during the one-on-one meeting with Zardari has also agreed to provide oil to Pakistan on one-year deferred payments, for which the agreement is expected to be signed soon’, confided the source to The Nation, maintaining that President’s visit had come at a time when Pakistan direly needed money to tide over its trade and budget deficits.

Moreover, Pakistan had contemplated a short-term loan from the International Monetary Fund, but sources said this would be its last resort, given the IMF’s stringent conditions.

‘An oil facility from Saudi Arabia could help the country avoid the IMF loan, or at least put it on a better footing to negotiate for more favourable conditions’.

Prime Minister Syed Yousuf Raza Gilani had requested the Saudi govt for the deferred oil payments during his visit to Saudi Arabia in July, mentioned the source.

The sources said Zardari had held talks with King Abdullah during a two-day visit, and the two leaders had also discussed the recent Saudi initiative in bringing the Afghan government and Taliban leaders to the dialogue table. ‘Economic, political and military cooperation between the two countries goes back several decades. Both the leaders are expected to sign a number of agreements on cooperation and investment in various sectors, while Zardari is also expected to ask Saudi businessmen to invest in Pakistan’s various sectors’, said the sources.

Sources said Pakistan needed more than $5b within a month to meet its international obligations.

‘The Friends of Pakistan’ nations include the US, UK, France, Saudi Arabia, China, the UAE and several other countries, which are meeting in Abu Dhabi on November 17 to devise ways for stabilising Pakistan’s economy’, added the source.

reliable sources ?
these reliable sources , keep saying all this crap long time, but nothing really can come up till now! dam with TAREEN & his croupt master, who were trying to put dirt in the eyes of the nation....?

 

[Al-zakir]

How long we live in fool paradise.In america there is no free lunch.Be brave throw their peanuts on their mouth.

Our problem is that our leaders are coward and are continusly demoralizing nation and injecting fear of America in thier hearts through media.

You are hearing capitalisim is close to distruction.

We should take motivation from Iqbal and Quaid e Azam.

The foundation of pakistan is very strong .it has blood of million of muslims.

Any one who try to harm this land will sufur badly.

What happened with Siekh mujeeb,Indra Ghandi,Bhutto etc.

I second to that brother.

 

[batmannow]

Yeah left us with WOT for life.

no, with 8 bilion USD in our reserves, sir
but, i guss our president would be spending, them to build more "SUREY VILLAS"?

 

[mnmaria20]

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Thanks.