IMF blackmailing.. shock therapy .. in progress

[blueazure]

PTI govt first good step in 2018 was to give industry gas and electricity at a flat tarriff of 6.5USD/MMBTU and 7.5 cents / unit .

now thanks to IMF, this subsidy is going away.

IMF shock therapy..... working very good



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Govt decides to end subsidy zero-rated industry (The News)


ISLAMABAD: In a major setback to the flagship initiative to increase exports of the country, the government has decided to take back the energy package (RLNG at $6.5 per MMBTU, and electricity at 7.5 cents per unit) earlier extended to zero rated sector till June
30, 2019. The government has also extended assurance to the International Monetary Fund (IMF) that it will do away with zero rate status to five industrial sectors (textile, leather, carpet, sports, surgical). “Yes, from next budgetary year, there will be no energy package that earlier the government had extended to zero-rated industry, and the decision has been reversed under IMF pressure,”
a senior official close to a government adviser confirmed this to The News, but in the next instance he added that the final decision
is yet to be taken by the cabinet after due process. This will certainly trigger, the official said, to massive decrease in exports which
may touch this year $24 billion. The government earlier had carved out the plan under which export industry was provided the RLNG
at $6.5 per MMBTU and electricity at 7.5 cents per unit at par with the provision of the two inputs of regional economies of India,
Bangladesh and Vietnam to ensure the products of Pakistan competitive in the international market but withdrawal of the energy
package from the export industry and doing away with the zero-rated sector will make the export industry non-competitive in the
global market.

 

[GumNaam]

Pakistanis are a shock proof people, imf would be severely disappointed...

 

[Shah Khalid]

PTI govt first good step in 2018 was to give industry gas and electricity at a flat tarriff of 6.5USD/MMBTU and 7.5 cents / unit .

now thanks to IMF, this subsidy is going away.

IMF shock therapy..... working very good



--------------------

Govt decides to end subsidy zero-rated industry (The News)


ISLAMABAD: In a major setback to the flagship initiative to increase exports of the country, the government has decided to take back the energy package (RLNG at $6.5 per MMBTU, and electricity at 7.5 cents per unit) earlier extended to zero rated sector till June
30, 2019. The government has also extended assurance to the International Monetary Fund (IMF) that it will do away with zero rate status to five industrial sectors (textile, leather, carpet, sports, surgical). “Yes, from next budgetary year, there will be no energy package that earlier the government had extended to zero-rated industry, and the decision has been reversed under IMF pressure,”
a senior official close to a government adviser confirmed this to The News, but in the next instance he added that the final decision
is yet to be taken by the cabinet after due process. This will certainly trigger, the official said, to massive decrease in exports which
may touch this year $24 billion. The government earlier had carved out the plan under which export industry was provided the RLNG
at $6.5 per MMBTU and electricity at 7.5 cents per unit at par with the provision of the two inputs of regional economies of India,
Bangladesh and Vietnam to ensure the products of Pakistan competitive in the international market but withdrawal of the energy
package from the export industry and doing away with the zero-rated sector will make the export industry non-competitive in the
global market.

Can You Provide Link.OK Forget It I Found It Sad If True But I Would Wait For Official Announcement.

Jang/Jew Are The Last People I Would Trust

 

[Manidabest]

all those industry owners r filthy rich and they should be given permission to import or arrange their fuel for themselves but it has to b tax free

 

[atan651]

IMF and its austerity programs!

 

[AZADPAKISTAN2009]

Pakistanis should focus on quality and not matching slave labor environment
Constantly focused on comparison with Afghanistan , Bangladesh, Philippines etc

As for Electricity


Massive additions coming to Power sector

Pakistan will be Energy Independent from 2023-2025

What that just means is that the Shut down Industries will be running as power would be available and companies would be able to run 2-3 shifts per day , and Production will rise


Rough Estimate of Some power Projects Production

KANUPP3 (Nuclear Power Plant) - 1,100 MW
KANUPP3 (Nuclear Power Plant) - 1,100 MW
Thar Mine Mouth Oracle Power Plant, Pakistan – 1,320MW
SSRL Thar SEC Mine Mouth Power Plant, Pakistan – 1,320MW
CPHGC Power Plant, Pakistan – 1,320MW
Sahiwal Coal-fired Power Plant, Pakistan – 1,320MW
Port Qasim Power Project, Pakistan – 1,320MW
Kohala Hydel Project, Pakistan – 1,100MW
Suki Kinari Hydropower Project, Pakistan – 870MW

Energy Production : 10,770 MW (Will be added ...)



With high availability of Electricity , the general rate would fall not requiring subsidy and factories would be able to run 2-3 shifts

 

[EpiiC]

Pakistanis should focus on quality and not matching slave labor environment
Constantly focused on comparison with Afghanistan , Bangladesh, Philippines etc

As for Electricity


Massive additions coming to Power sector
View attachment 561539

Pakistan will be Energy Independent from 2023-2025

What that just means is that the Shut down Industries will be running as power would be available and companies would be able to run 2-3 shifts per day , and Production will rise


Rough Estimate of Some power Projects Production

KANUPP3 (Nuclear Power Plant) - 1,100 MW
KANUPP3 (Nuclear Power Plant) - 1,100 MW
Thar Mine Mouth Oracle Power Plant, Pakistan – 1,320MW
SSRL Thar SEC Mine Mouth Power Plant, Pakistan – 1,320MW
CPHGC Power Plant, Pakistan – 1,320MW
Sahiwal Coal-fired Power Plant, Pakistan – 1,320MW
Port Qasim Power Project, Pakistan – 1,320MW
Kohala Hydel Project, Pakistan – 1,100MW
Suki Kinari Hydropower Project, Pakistan – 870MW

Energy Production : 10,770 MW (Will be added ...)



With high availability of Electricity , the general rate would fall not requiring subsidy and factories would be able to run 2-3 shifts

Pakistan currently has 34,000MW, if you had 11,000MW more its still not enough...... Pak should have over 200,000MW to be 2nd World country level.

 

[nahtanbob]

With high availability of Electricity , the general rate would fall not requiring subsidy and factories would be able to run 2-3 shifts

high availability in this case will not lead to lower prices

 

[maximuswarrior]

We don't know half the IMF conditions. Let me assure you folks that many conditions are definitely against our national interests and sovereignty. What we know is just tip of the iceberg stuff. We can argue all day long whether any government should opt for IMF loans. I believe we shouldn't and try to sort our economic woes on our own. You can have as many loans as you like. As long as you don't tax the rich you won't succeed. I hate to say this, but Imran Khan has until now not delivered on the taxation front.

I am still not going to fully blame IMF. Three quarters of the blame lies with our previous corrupt governments. A quarter lies with the lenders who borrow knowing fully that these loans are detrimental for host nation.

 

[nahtanbob]

We don't know half the IMF conditions. Let me assure you folks that many conditions are definitely against our national interests and sovereignty. What we know is just tip of the iceberg stuff. We can argue all day long whether any government should opt for IMF loans. I believe we shouldn't and try to sort our economic woes on our own. You can have as many loans as you like. As long as you don't tax the rich you won't succeed. I hate to say this, but Imran Khan has until now not delivered on the taxation front.

I am still not going to fully blame IMF. Three quarters of the blame lies with our previous corrupt governments. A quarter lies with the lenders who borrow knowing fully that these loans are detrimental for host nation.

On IMF loans you could borrow the money from China. Who is stopping you ?

IMF is quite open on all the economic issues. if you do not know the economic conditions you have the Pakistani government to blame.

Are their political conditions for IMF loans ? Probably. Those may never be revealed

 

[maximuswarrior]

On IMF loans you could borrow the money from China. Who is stopping you ?

IMF is quite open on all the economic issues. if you do not know the economic conditions you have the Pakistani government to blame.

Are their political conditions for IMF loans ? Probably. Those may never be revealed

I am blaming the Pakistani government. Didn't you read my post? Why repeat?

Of course IMF dictated by the US and the West is going to trample and destroy ever ounce of sovereignty and stability in any host nation and especially Pakistan. That is writing on the wall. For that, I don't blame IMF because it is designed to operate in such a manner. The blame squarely lies with governments who take IMF loans willingly or unwillingly.

I blame IMF for providing the loans because they fully know that corrupt societies and governments cannot pay back. These loans never improve the economic situation in most developing nations including Pakistan. They worsen the economic situation.

 

[nahtanbob]

I am blaming the Pakistani government. Didn't you read my post? Why repeat?

I only blame IMF for providing the loans because they fully know that corrupt societies and governments cannot pay back. These loans never improve the economic situation in most developing nations including Pakistan. They worsen the economic situation.

IMF is not there to solve developmental issues. IMF loans out money so that you can sort out internal issues. Pakistan has got IMF loans 12 times. It is safe to say the government failed to solve the fundamental issues.

There are tons of countries that have taken IMF loans and never come back. You can start with your neighbor India

 

[maximuswarrior]

IMF is not there to solve developmental issues. IMF loans out money so that you can sort out internal issues. Pakistan has got IMF loans 12 times. It is safe to say the government failed to solve the fundamental issues.

There are tons of countries that have taken IMF loans and never come back. You can start with your neighbor India

Agreed. However, most nations keep coming back for more. India is an exception in this regard. India has cunning and smart leadership. They are terrible human beings, but they know how to run their affairs and economy for the most part. In Pakistan we don't.

Let me assure you that this government is again going to knock on IMF door. We all know why. For a starter, when you don't tax the rich in any society your economic policies are flawed from the word get go. This government has thus far not shown the willingness to go after big crocodiles. The burden is for the most part being shifted on the common man. This is plain wrong and not even in accordance with election promises.

 

[Turingsage]

India is an exception in this regard. India has cunning and smart leadership. They are terrible human beings, but they know how to run their affairs and economy for the most part. In Pakistan we don't.

Ireland's economic growth shot up after the IMF loan and conditionality were successfully and diligently implemented. In fact the income of every Irish citizen almost doubled .
To call those who honestly work with the IMF to fix their economies as "cunning" and "terrible" is probably the reason why Pakistan will be going to the IMF several tens of times instead of just 13. Serbia completed its 32 billion dollar program and is now one of the fastest economies in Europe.
If you are deceitful by nature, as Pakistan always has been , than no IMF loan can help you


"The review found three-quarters of IMF programs were successful or partially successful in achieving their objectives, such as resolving balance of payment problems and fostering economic growth. Social spending was generally protected as a share ofGDP." https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&cad=rja&uact=8&ved=2ahUKEwj43Mma8LTiAhWwAmMBHXCaD88QFjABegQIBhAB&url=https://blogs.imf.org/2019/05/20/a-review-of-imf-supported-lending-programs/&usg=AOvVaw17jKQhiKJnzuM7gCPZ4I6c

 

[nahtanbob]

Agreed. However, most nations keep coming back for more. India is an exception in this regard. India has cunning and smart leadership. They are terrible human beings, but they know how to run their affairs and economy for the most part. In Pakistan we don't.

Let me assure you that this government is again going to knock on IMF door. We all know why. For a starter, when you don't tax the rich in any society your economic policies are flawed from the word get go. This government has thus far not shown the willingness to go after big crocodiles. The burden is for the most part being shifted on the common man. This is plain wrong and not even in accordance with election promises.

Show me where the IMF objects to taxes on the rich.

IMF sets broad limits on taxes, spending and subsidies. if you have $100 how you choose to spend it ? that is up to host government. they recommend you collect $100 in taxes. they are fine if you collect it anyway you want.

IMF general prescription is a free market dose of medicine. Like medicines it does not work always