IMF sets very tough conditions for Pak to receive bailout package, shows no flexibility

[valkyr_96]

If PMLN had not suffered threats from establishment along with their myopic lotas in PTI as well as the gangster in PPP they would have privatised PIA and PSM. Right their 8 billion a year off our books. But instead we had threats of riots by PPP and PTI while establishment relished it all.

This is hogwash the establishment has nothing to do with PIA and PSM as I was part of the Privatisation process. The entire issue was political. These institutions are rotten because of political appointees (that do not want to change the status quo) as well as conflict of interest because the people in the government owned those very same businesses and do not want them to succeed. There was simple no traction after assessing the assets. Furthermore, even PMLN had issues with financing the federal government and was looking to repeal the 18th Amendment (now they are crying about it). They could have solved this mess but they chose not to because they did not care as they thought they would be comfortable like PPPP in Punjab. I have seen the PMLN Geo JS nexus first hand because I was there.

 

[tkmd]

This is hogwash the establishment has nothing to do with PIA and PSM as I was part of the Privatisation process. The entire issue was political. These institutions are rotten because of political appointees (that do not want to change the status quo) as well as conflict of interest because the people in the government owned those very same businesses and do not want them to succeed. There was simple no traction after assessing the assets. Furthermore, even PMLN had issues with financing the federal government and was looking to repeal the 18th Amendment (now they are crying about it). They could have solved this mess but they chose not to because they did not care as they thought they would be comfortable like PPPP in Punjab. I have seen the PMLN Geo JS nexus first hand because I was there.

I disagree. Yes it was political. But not from PMLN. It was from PPP and PTI. and without question anyone with two eyes and a third grade reading ability can figure out who has a stake in PIA, PSM and so many other state owned dysfunctional companies. When generals retire and go straight to PIA as MD/board member Allah knows what else ... U know full well why GHQ doesn't just tell everyone to dump these worthless assets. Whose MD of PTV now? Whose director of Pia? Endless retirement plans for anyone with general next to their name.

the chinese have $3 trillion in reserves. they can definitely provide a $20 billion loan to help out short term issues of pakistan. i never got a straight answer. i assume something is cooking behind the scenes

Chinese have 3 trillion in cash bc they don't give money to clowns and joker's .A country that won't dump PIA, Minister's expect first world lifestyle at expense of someone else, doesn't export anything other than kinnow....why would they give us unending loans. They r already giving us loans for everything else .

 

[Sheikh Rauf]

Offcourse they know ww have no choice so their conditions are tough. We sud not go to imf let feel the heat of our wrong doing.

 

[valkyr_96]

I disagree. Yes it was political. But not from PMLN. It was from PPP and PTI. and without question anyone with two eyes and a third grade reading ability can figure out who has a stake in PIA, PSM and so many other state owned dysfunctional companies. When generals retire and go straight to PIA as MD/board member Allah knows what else ... U know full well why GHQ doesn't just tell everyone to dump these worthless assets. Whose MD of PTV now? Whose director of Pia? Endless retirement plans for anyone with general next to their name.

You can disagree all you want but I was a banker on these transactions there simply was no traction. I have no interest in engaging your conspiracy theories.

 

[American Pakistani]

state should squeez the corrupt tola . bc bohot hogaya qanoon qanoon .

Tbh, even awaam is responsible. Ask millions of Pakistanis why do they purchase imported goods? What will they do if govt bring the gasoline prices to the level of other countries (for example India or China) instead of giving subsidy and taking the loss? Why do we want the govt to pamper us, instead of standing on our feet and actually helping govt.

Currently we import almost 48 to 50 billion worth of goods while exports are just 22 Billion. On top of exports, we have to pay loan installments too. It is simple mathematics, you are getting 20 billion for remittances and 22 billion for exports equalling about 42 billion and you are spending about 55 billions. This is more than 10 billion loss easily.

 

[Crusher]

Offcourse they know ww have no choice so their conditions are tough. We sud not go to imf let feel the heat of our wrong doing.

absolutely if pakistan as a country has been doing economic blunders then it is now time to suffer economic hardship instead of initiating another economic blunder.

 

[nahtanbob]

Chinese have 3 trillion in cash bc they don't give money to clowns and joker's .A country that won't dump PIA, Minister's expect first world lifestyle at expense of someone else, doesn't export anything other than kinnow....why would they give us unending loans. They r already giving us loans for everything else .

i thought pakistan was and is china's israel

 

[tkmd]

You can disagree all you want but I was a banker on these transactions there simply was no traction. I have no interest in engaging your conspiracy theories.

Ok let's make it easy. Send me your LinkedIn profile with evidence of your credentials. I'll happily send you a link to my profile as well as links to my medical licenses.

 

[jupiter2007]

Now people will and so called experts now saying Govt should go to IMF earlier. First they were saying look govt going to IMF.

By the way thank you PMLN and PPP supporters for making Pakistan in current great situation.

Going early or not going early all of that is irrelevant now. Just like 12 times before, IMF is putting the same conditions, there is nothing new. We as a countryman should ask ourself why every few years Pakistan has to go back to IMF for a package?
What are we doing wrong?

 

[valkyr_96]

Ok let's make it easy. Send me your LinkedIn profile with evidence of your credentials. I'll happily send you a link to my profile as well as links to my medical licenses.

what does your medical licenses have to do with all this? Sorry buddy like I said I have no interest in entertaining you.

 

[tkmd]

what does your medical licenses have to do with all this? Sorry buddy like I said I have no interest in entertaining you.

Ur claiming inside knowledge and expertise. My education and credentials have nothing to do with the discussion but as a gesture of good faith I'll show u mine if you prove ur assertion of said expertise. Not that hard imo.

 

[LeGenD]

Tbh, even awaam is responsible. Ask millions of Pakistanis why do they purchase imported goods? What will they do if govt bring the gasoline prices to the level of other countries (for example India or China) instead of giving subsidy and taking the loss? Why do we want the govt to pamper us, instead of standing on our feet and actually helping govt.

Currently we import almost 48 to 50 billion worth of goods while exports are just 22 Billion. On top of exports, we have to pay loan installments too. It is simple mathematics, you are getting 20 billion for remittances and 22 billion for exports equalling about 42 billion and you are spending about 55 billions. This is more than 10 billion loss easily.

Bro,

Imports are 'necessary' due to lack of domestic industrial capability which can deliver quality goods to people and fulfill their demands on time. People do not want to waste their money on substandard goods again and again.

PTI-led government should encourage notable foreign companies from all over the world to open manufacturing plants in Pakistan; an excellent strategy to create a large number of jobs for the masses, and stimulate economic activity.

 

[American Pakistani]

Bro,

Imports are 'necessary' due to lack of domestic industrial capability which can deliver quality goods to people and fulfill their demands on time. People do not want to waste their money on substandard goods again and again.

PTI-led government should encourage notable foreign companies from all over the world to open manufacturing plants in Pakistan; an excellent strategy to create a large number of jobs for the masses, and stimulate economic activity.

Imports are draining hard earned forex. Yes people should get quality stuff but not at the cost of country going bankrupt.

I agree, the govt should pressure companies to establish manufacturing plants locally else pay higher taxes.

 

[tkmd]

Bro,

Imports are 'necessary' due to lack of domestic industrial capability which can deliver quality goods to people and fulfill their demands on time. People do not want to waste their money on substandard goods again and again.

PTI-led government should encourage notable foreign companies from all over the world to open manufacturing plants in Pakistan; an excellent strategy to create a large number of jobs for the masses, and stimulate economic activity.

Pakistanis don't even buy their own soap...how hard is it to make soap? What quality issue is in soap? Pakistan needs to get its hand out of its hairy butt and say we will eat grass but we will build a account surplus.

 

[yesboss]

There is no easy solution. One way is to impose high taxes on imported stuff, and encourage local production, this way either you gain good tax accumulation or lower out flow of reserves. We need to stop with this import madness business model and develope in house products, we are not an oil rich country.