gas tarriff hike ... incoming

[blueazure]

IMF shock economics undergoing smoothly in Pakistan...



---------------
DAWN


On the opening day of its two-week discussions with a staff mission of the International Monetary Fund (IMF), the government appeared set to increase gas rates from Feb 1 to placate the international lender into reducing revenue target for the current fiscal
year. On Monday, the cabinet division called members of the Economic Coordination Committee (ECC) of the cabinet to meet on Tuesday to take up “natural gas sales pricing FY2019-20 with effect from Feb 1, 2020” summary moved by the petroleum division.
Separately, the staff mission of the IMF had initial discussions with the Federal Board of Revenue (FBR) which reportedly sought a further downward reduction in revenue collection target for the current fiscal year in view of a massive Rs385 billion shortfall in the
first seven months ending Jan 31, 2020. Adviser to the Prime Minister on Finance & Revenue Dr Abdul Hafeez Shaikh told media persons that the talks between the IMF mission and the government team had begun. He said the IMF loan programme to Pakistan
was continuing under which IMF was providing $6bn loan and extending support for economic reforms.

 

[Dil_Pakistan]

https://twitter.com/x/status/1224591471728308224

 

[fitpOsitive]

IMF shock economics undergoing smoothly in Pakistan...



---------------
DAWN


On the opening day of its two-week discussions with a staff mission of the International Monetary Fund (IMF), the government appeared set to increase gas rates from Feb 1 to placate the international lender into reducing revenue target for the current fiscal
year. On Monday, the cabinet division called members of the Economic Coordination Committee (ECC) of the cabinet to meet on Tuesday to take up “natural gas sales pricing FY2019-20 with effect from Feb 1, 2020” summary moved by the petroleum division.
Separately, the staff mission of the IMF had initial discussions with the Federal Board of Revenue (FBR) which reportedly sought a further downward reduction in revenue collection target for the current fiscal year in view of a massive Rs385 billion shortfall in the
first seven months ending Jan 31, 2020. Adviser to the Prime Minister on Finance & Revenue Dr Abdul Hafeez Shaikh told media persons that the talks between the IMF mission and the government team had begun. He said the IMF loan programme to Pakistan
was continuing under which IMF was providing $6bn loan and extending support for economic reforms.

End of Imran regime is likely also coming.

 

[Mav3rick]

End of Imran regime is likely also coming.

It doesn't look like it, evidently PTI followers are immune to the exponential increase in inflation and cost of living and that they will continue to blame the previous Governments for the next 3.5 years. After that they will start blaming the new Government.........blame anything and everything except PTI mismanagement, incompetence and corruption.

 

[IceCold]

End of Imran regime is likely also coming.

Dont worry! If governments like Zardari and Nawaz completed their tenures, rest assured Imran's will too. If people had come out earlier when they were suppose too, we wouldnt be in this predicament to begin with.

 

[blueazure]

It doesn't look like it, evidently PTI followers are immune to the exponential increase in inflation and cost of living and that they will continue to blame the previous Governments for the next 3.5 years. After that they will start blaming the new Government.........blame anything and everything except PTI mismanagement, incompetence and corruption.

the only iota of support left for PTI is with expatriates living in Norway, Canada or USA

 

[Pandora]

It doesn't look like it, evidently PTI followers are immune to the exponential increase in inflation and cost of living and that they will continue to blame the previous Governments for the next 3.5 years. After that they will start blaming the new Government.........blame anything and everything except PTI mismanagement, incompetence and corruption.

It amazes me every time to see people blamming PTI when they were in power even less than 2 years. Immune to 3 decades of loot and plunder by previous governments PTI govt seems like an easy target. Previous govt also did similar price hike in Electricity and Gas even devalued currency by almost 15-20 Rs but no hue and cry there.

It is all fault of PTI to leave a current account deficit of $20 billion meaning external financing requirement of 20 billion for PTI. Must be some colossal mismanagement that they posted a surplus in current account first time in 10 years.

But lets blame PTI bcz Nawaz Ganja left a paradise a paradise for us which was ruined by PTI. There was no mismanagement or corruption prior to PTI. I mean seriously if Pakistanis are such big chutiyas that they expect a mess of 20 years to fix itself in 2 years then they really deserve Zardari and Nawaz in next term. If Pakistanis themselves cant change in 2 years time then how can you change this rotten system in 2 years.

I today declare from depths of my hearT that Zardari or Nawaz should be given another chance. Pakistan deserves Nawaz sharif and Zardari and his children to rule over them until end of days.

 

[blueazure]

https://twitter.com/x/status/1224591471728308224

no ,

these are not fake news . read it again

its a fact that ECC has to now quarterly DISCUSS raising gas tariffs on account of IMF targets .

 

[fitpOsitive]

Dont worry! If governments like Zardari and Nawaz completed their tenures, rest assured Imran's will too. If people had come out earlier when they were suppose too, we wouldnt be in this predicament to begin with.

Can't be anything with certainity. But I think, Imran is a done deal now. His companions are failing him.

 

[blueazure]

End of Imran regime is likely also coming.

highly unlikely UNLESS people come on streets en masse



as long as army is with PTI , they will remain in power ,

 

[V. Makarov]

Even if they increased the Gas tariffs by a few million percent, my bill will be less than Rs.500 because there is no gas pressure. Everything from the distribution to the pricing, to the recovery of gas, is a joke.

 

[ejaz007]

https://twitter.com/x/status/1224591471728308224

I wish selection of IK turns out to be a fake news.

 

[Mav3rick]

It amazes me every time to see people blamming PTI when they were in power even less than 2 years. Immune to 3 decades of loot and plunder by previous governments PTI govt seems like an easy target. Previous govt also did similar price hike in Electricity and Gas even devalued currency by almost 15-20 Rs but no hue and cry there.

Economy can be devastated in 1 week, let alone 1.5 years of Governance. It does take longer to fix things but the fixing should have started from where the previous Government left off and not after 200% inflation! The pace and scale of price hike by the incumbent is unprecedented and Imran Khan has done EVERYTHING that he used the criticize the previous Governments for, the most munafiq of Pakistanis!

It is all fault of PTI to leave a current account deficit of $20 billion meaning external financing requirement of 20 billion for PTI. Must be some colossal mismanagement that they posted a surplus in current account first time in 10 years.

Current Account is in surplus? Are you sure? Well, you are WRONG, as PTI followers generally are, having been brainwashed by the sweet talking liar of all times.

But lets blame PTI bcz Nawaz Ganja left a paradise a paradise for us which was ruined by PTI. There was no mismanagement or corruption prior to PTI. I mean seriously if Pakistanis are such big chutiyas that they expect a mess of 20 years to fix itself in 2 years then they really deserve Zardari and Nawaz in next term. If Pakistanis themselves cant change in 2 years time then how can you change this rotten system in 2 years.

Another thing that PTI and Imran Khan has taught Pakistanis is to abuse whoever disagrees with the concocted and made up stories about everything. Corruption has been rampage in Pakistan, it still is and today it is more than it was 2 years ago. But Corruption is evidently not the problem, it is the LIES and DECEIT of PTI leadership and above all the incompetence. Trying over and over to make the same thing work is not a recipe for success. Other than a massive devaluation, imposition of higher taxation and massively raising prices of utilities such as gas, electricity, petrol etc., what exactly has PTI done to arrest the out of control inflation?

I today declare from depths of my hearT that Zardari or Nawaz should be given another chance. Pakistan deserves Nawaz sharif and Zardari and his children to rule over them until end of days.

Instead of being emotional, and losing your senses in the process, why don't you think like a Pakistani fore and before anything else? Most of the Pakistanis who are sick and tired of the wave of uncontrolled inflation with no end in sight are not PML or PPP supporters but regular Joe's who want to make their ends meet in a reasonable manner, which has been snatched away by a selected Government.

I wish selection of IK turns out to be a fake news.

Seems like a really really bad dream, a never-ending nightmare......too bad it is all but true.

 

[Pandora]

Economy can be devastated in 1 week, let alone 1.5 years of Governance. It does take longer to fix things but the fixing should have started from where the previous Government left off and not after 200% inflation! The pace and scale of price hike by the incumbent is unprecedented and Imran Khan has done EVERYTHING that he used the criticize the previous Governments for, the most munafiq of Pakistanis!





Current Account is in surplus? Are you sure? Well, you are WRONG, as PTI followers generally are, having been brainwashed by the sweet talking liar of all times.





Another thing that PTI and Imran Khan has taught Pakistanis is to abuse whoever disagrees with the concocted and made up stories about everything. Corruption has been rampage in Pakistan, it still is and today it is more than it was 2 years ago. But Corruption is evidently not the problem, it is the LIES and DECEIT of PTI leadership and above all the incompetence. Trying over and over to make the same thing work is not a recipe for success. Other than a massive devaluation, imposition of higher taxation and massively raising prices of utilities such as gas, electricity, petrol etc., what exactly has PTI done to arrest the out of control inflation?





Instead of being emotional, and losing your senses in the process, why don't you think like a Pakistani fore and before anything else? Most of the Pakistanis who are sick and tired of the wave of uncontrolled inflation with no end in sight are not PML or PPP supporters but regular Joe's who want to make their ends meet in a reasonable manner, which has been snatched away by a selected Government.



Seems like a really really bad dream, a never-ending nightmare......too bad it is all but true.

Yes current account went into surplus it was all over the news. Bringing down CAD from nearly 20 billion to 6-9 billion is no easy feat which govt achieved. This year it will be around 6 billion if it keep going at this pace.

I am very much aware of inflation and other dilemmas faced by all Pakistanis but this has to be done otherwise our economy will go into default. It is not easy to overcome a deficit of 20 billion and keep pumping subsidies as well. Once our CAD reduces to manageable levels then subsidies can be restored.

It will take another year to fully overcome the effects of deficit which need to be brought into positive region before susidies can be provided. Otherwise we will have to keep taking loans for IMF and saudis and chinese making us vulnerable to their dictation in our policies regarding our region. We are essentially getting black mailed by all of them to look other way.
Saudis blackmailed us not to not attend summit in Malaysia
We cant even begin to utter a word against china bcz how much massively we are in debt to them bcz of CPEC.
As for US i dont have to remind you how they are blackmailing us via IMF and FATF to achieve their goals in region.

 

[Mav3rick]

Yes current account went into surplus it was all over the news. Bringing down CAD from nearly 20 billion to 6-9 billion is no easy feat which govt achieved. This year it will be around 6 billion if it keep going at this pace.

No my friend, it was only the CAD that was positive, current account was still negative. CAD was reduced by stifling imports, including imports which have no local alternative. This is no achievement because when imports are stifled or taxed higher, imports which include machinery, electronics and raw material used by industry then the whole point of reducing CAD is defeated as then we will never be able to climb out of the debt unless we import all these things which are required to lay a strong industrial foundation for local consumption and also for export, in the near future.

I am very much aware of inflation and other dilemmas faced by all Pakistanis but this has to be done otherwise our economy will go into default. It is not easy to overcome a deficit of 20 billion and keep pumping subsidies as well. Once our CAD reduces to manageable levels then subsidies can be restored.

This is again a failure of the Government, inflation should never have risen to the levels it reached even as far back as last year. The only thing that the Government had to control was unnecessary/luxury imports by raising taxes only on those items. Devaluation, meant to lower imports and boost exports was done in a senseless manner due to which no substantial benefit could be reaped whereas the loss to the economy is astronomical. This is insane, this is criminal. Evern since 1971 we have been managing the economy through loans and have been under debt which we have been able to manage with a growing economy.

Consider this, a hypothetical example just to explain, a debt of 100 Billion USD may look massive today with an economy of 350 Billion USD; however with a consistently growing economy, an even bigger debt of 200 Billion may not look as big against a 800-900 Billion economy. What we need to focus on is growing our economy and managing Fiscal Deficit as best as we can manage until we start exporting a whole lot more.

It will take another year to fully overcome the effects of deficit which need to be brought into positive region before susidies can be provided. Otherwise we will have to keep taking loans for IMF and saudis and chinese making us vulnerable to their dictation in our policies regarding our region. We are essentially getting black mailed by all of them to look other way.
Saudis blackmailed us not to not attend summit in Malaysia
We cant even begin to utter a word against china bcz how much massively we are in debt to them bcz of CPEC.
As for US i dont have to remind you how they are blackmailing us via IMF and FATF to achieve their goals in region.

My only concern, and response to your point here, is that I see no sign of movement of economy in the right direction. There is no positive indication in any of the regions which matter and the impact of devaluation alone may haunt us for the next 2-3 years.