IMF only viable option, PM Imran Khan told: Is it true?

[I.R.A]

Sir, Pakistan is not an Islamic state by all means u know that... Second why to pay zakat to a government having loan defaulters in sitting cabinet as minister while having property worth billion...This applied to previous one too

Yar we cannot look to past and present and mourn and do nothing for future. It's my personal opinion that tax base can be broadened if we start collecting Zakat as tax, which it is actually.

Doosri dunia ka kya hal hy? Sheikh bohat arsa ho gya gaib hy.

 

[Roybot]

Whatever happened to 15 Billions that Saudis were giving and 10s of billions “iron brother” was depositing to avoid IMF ? Reality hitting Kaptaan’s team now?

@BHarwana should have the latest update on that.

 

[H!TchHiker]

Pakistani's should stop worrying about US sanctions on India and start worrying about "what if US raises objections to IMF's bailout package to pakistan".

That won't happen..US in-fact wish to keep the Pakistan float like this and kept the pressure.

Yar we cannot look to past and present and mourn and do nothing for future. It's my personal opinion that tax base can be broadened if we start collecting Zakat as tax, which it is actually.

Doosri dunia ka kya hal hy? Sheikh bohat arsa ho gya gaib hy.

M khud gayb tha after vacation just join. udhar ka kch nai pata password wagera yad nai..yaha already logged in tha to popup here sometime

 

[BHarwana]

Pakistan is not going to IMF come on people. It has been so long and Pakistan has not knocked the IMF door.

 

[American Pakistani]

View attachment 503470

All these improvements and recovery of money yields 7 Billion DOLLAR/YEAR additional income from inside Pakistan

Pakistan need $$$ not Rupees.

The only solution is to cut imports. Why Pakistan's import bill is almost 50 Billion $$$ and imports just 20 Billions? Whereas look at Vietnam or Bdsh, Bdsh import 37 Billion worth goods and export 35.5 Billion. When I go to Pakistani markets all I see imported clothes, imported grocery items, etc etc...so even for these items Pakistan need imports? Why? What is the nation of 220 million people doing? Are those people useless just making babies?

 

[Sugarcane]

https://www.thenews.com.pk/print/367287-nfc-award-and-budget-deficits

In that case, at-least debt servicing must be deducted before allocation of funds to provinces or debt servicing + pension should be charged to provinces based on same formula used for NFC award.

 

[AZADPAKISTAN2009]

The calculations show Rupees and then it shows US dollar conversion if you look closely

Simplest Fastest Fix to Economy:

Cell Phone (Recharge Tax ) = 1.2 Billion Dollar over period of 1 Year
Shop Permit Program = 3.8 Billion Dollar over period of 1 Year
Road Permit Program = 438 Million Dollar permit over 30 days period
Qurbani Permit = 200 Million Dollar annually over period of 1 Year
Killing Water Mafia & Collecting Money = 876 Million Dollars annually over period of 1 Year

Total: 6,514,000,000 almost 7 Billion from these internal correction

 

[Azog]

In that case, at-least debt servicing must be deducted before allocation of funds to provinces or debt servicing + pension should be charged to provinces based on same formula used for NFC award.

The whole NFC shit needs to change.

It's causing huge pile of debt every year because we have to go loans to fund PSDP and defence

 

[American Pakistani]

The calculations show Rupees and then it shows US dollar conversion if you look closely

Sir, Pakistani people will pay in Rupees not in $$$. So those are still rupees. Even if their equivalency could be 10 billion $ but they are still actual Rupees. For foreign payments you need $$$.

The whole NFC shit needs to change.

It's causing huge pile of debt every year because we have to go loans to fund PSDP and defence

Imports are the big drain in Pakistani national wealth bucket.

Only increasing exports and lowering imports can help in the long run.

 

[AZADPAKISTAN2009]

We can collect in rupee and pay our debt after a minor conversion or buy Gold in the market to stabilize currency


I personally would use 50% to Pay down Debt , 50% Buying gold that is
3 Billion Dollar to pay down National Debt , and 3 Billion Dollar Buying Gold & Silver commodity. Make a GOLD SILVER RESERVE in Pakistan !! Guarded by Al Khalid Tanks/APC and 10,000 Troops

Government creates 5 Accounts in Bank

• "Cell Phone Tax Collection"
• "Shop Permit Program "
• "Road Permit Program "
• "Qurbani Permit"
• "Temporary Water Distribution Program by Tankers"

Difficulty to Implement is Minimum:

> USE BANK's existing infrastructure and just ask them to sell a Printer Permit with ID and Payment Date (Collection officer would be able to check the pay status by website or App)

Cell Phone (Recharge Tax ) = (Just collect 100 rupee surcharge from Telecom companies)

Shop Permit Program = (Shop keepers pay 1000 rupee online or bank and print permit with receipt) money goes to Account only for this permit collection

Road Permit Program = (Simple , make basic check posts , if you have permit / pass you can go forward else you drive back to home pay online and keep pass. People pay at pay 1000 rupee online or bank)

Qurbani Permit = (Have permit selling booth at Banks , pay and get permit go Qurbani Gah)

Killing Water Mafia & Collecting Money = Have customers pay Government for water, and Government then gives small salary to tanker driver 99% collected by government



Also Money from Metro Bus / Triain Projects need to be pooled in Federal Bank Account
After Road Toll is introduced Government need to check money is correctly being collected in Metro / Train projects

a) Lahore Metro
b) Islamabad Metro
c) Multan Metro
d) Peshawar Metro (Once fully Completed)
e) Lahore Train Project (Once fully completed)

NAB can over see the money generated from the METRO projects being completed
Tickets sold every day should be counted and money counted for accuracy

 

[shah_123]

for "IMF only viable option" brigade.

https://twitter.com/x/status/1047141599589883904

 

[Azog]

Sir, Pakistani people will pay in Rupees not in $$$. So those are still rupees. Even if their equivalency could be 10 billion $ but they are still actual Rupees. For foreign payments you need $$$.



Imports are the big drain in Pakistani national wealth bucket.

Only increasing exports and lowering imports can help in the long run.

That's another issue and directly linked to going to imf everytime

But budget defict is a huge problem, our debt to gdp ratio has already crossed the acceptable level, and is rising at rapid rate.

 

[Zhukov]

According to the following sources, both professional accountants and economy academics, ~70% of Pak economy is undocumented!!! It's damn huge!!! The following official graph from the Pak government shows that GDP growth rate and the growth rate of the expensive items don't match!!!! It means the majority economic activities of the Pak folks are out of the government control, manipulation, documentation, direct taxation etc...

View attachment 503458

https://fp.brecorder.com/2016/05/2016051345400/
https://www.aerc.edu.pk/real-size-underground-economy-case-pakistan/

But Unfortunately Foreign Exchange Reserves are never Undocumented. All the Dollar bills are documented and known in State bank and Commercial Banks. We are not even generating enough Foreign Exchange to Pay back Import Bills let alone upcoming debt repayments. What happens in local economy doesn't matter Flying Duck if it does not generate Foreign exchange in current situation

 

[Kabira]

Pakistan is not going to IMF come on people. It has been so long and Pakistan has not knocked the IMF door.

 

[AZADPAKISTAN2009]

The imports need to be shut down except for Oil/gas and Medicine till things are under control

Import : (- 40 Billion)
Export : (+ 20 Billion)
Expat Remittance: (+10 Billion)

Still "-10 Billion" in hole which puts pressure on economy

Limit:
oil / gas import bill reduce from 40 Billion to 5 Billion

• Spend 90% on Oil/Gas
• Spend 10% on other raw chemicals or material
• Introduce Pakistani Sindhi Coal cooking alternative using basic coal rack

Increase:
Export from 20 Billion to 25 Billion range . Food export

• Convert 1% food to dry store able food and store for emergency

Don't buy over our Limit



ALLOW

• Oil (Allow) [Buy discounted rate .....]
• Gas (Allow)
• Medicine (Allow) / Hospital Electronics (Allow)
• Machinery - Factories & Companies (Allow)
• Chemicals raw for local industry (Allow)
• Gold purchase/ Silver purchased brought into Pakistan
• Tractors
• CELL PHONES / SMARTPHONES (Allow with Duty)
• Bus Import / Locomotives
• Solar Panels
• Media equipment for Professional News channels
• IT Software / Equipment for schools & Companies
• Tea (Allow but 1 tea cup per day not 3 time a day tea)

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

DISALLOW (2 Years) TRADERS SHOULD BE GIVEN DEADLINE TO NOT BUY NEW ORDERS

Important Note:
We can Live without all these no one will die with out these for 2 years
All the stuff here is ......luxury and none sense

• CARS (NEW/USED) , Ban on Luxury vehicles entry into country
• MOTOR CYCLES
• CHOCOLATE / CHIPS / IMPORTED SODA DRINKS / IMPORTED DATES
• No Imported Ice Creme
• ELECTRONICS LAPTOP/TV/FRIDGES/ RADIO SETS/ Computers
• Expensive Foreign Clothes (Designer Suits/ Shirts / Pants)
• No wine / Beer or alcoholic beverage importation
• Ban video game consoles for 2 years
• Cameras no new camera allowed for civilians
• Ban plastic Bags (Ask people to use cotton bags )
• Ban on PEPSI/COKE/NESTLE as people need to drink water
• Cosmetics , chemicals for cosmetics , artificial beauti enhancers
• Imported Shampoos and soaps
• Ban on commercials made overseas that don't use Pakistani Nationals and Youth
• That useless expensive watch just to tell you it is 3:30 pm

AIRSPACE policy

• Close Airways only restrict Access to PIA for international flights to pick up passengers, use formal standard policies for such things.

Bottom-line :
If we make 20 Billion from sales , and buy 40 Billion imported goods from outside that is the only issue at hand.


THE GOOD STUFF

We make all the stuff which is needed to sustain life essentials for life we have it

Our Crops make Bumper Yield eatable
Our Textile industries make top wearable clothes
Our Animal Production is fantastic making fantastic animals for consumption
Our dry fruit segment makes fantastic natural organic snacks
Our fishery sector is growing at great pace
Our Leather goods are fantastic to make rugged material for covering
Our shoes industries make fantastic wearable shoes
Walnut , Almonds , Hazel Nut etc all is there

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Goal : After 1-2 years of reforms for example by 2019

Import Bill: (- 5 Billion)
Export Bill : (+ 27 Billion)
Expat Remittance: (+13 Billion)


The gradually imports can be introduced slowly back into system


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