Is Asad Umar Finance Minister a failing minister, unable to fix Pakistan economy?

[somebozo]

I was watching a program where a gentle man said that govt should ask Gulf countries to increase Pakistani labor. I fully support this. This will take care of unemployment as well as foreign remits will increase.

Gulf countries follow their own labor policies and beside Pakistan is incapable of exporting the kind of skilled labor to compete with India and Philippines. Asad Umar is a miserable failure, instead of making accommodation policies, they have taken on aggression and intimidation as a state tool. Which means dollar is fast draining out of the country..in a place where theft, tax evasion and crime economy was the norm, it would take long years to stabilize.

 

[Asian.Century]

**** Asad Umar Finance Minister, IK, Razak....all economic and finance team of government.....dollar now sky rocketed to Rs 143, everything is so expensive in Pakistan, bloody even petrol has increased by damn 12 rupees....what the hell is this government doing?

Why is everything getting so expensive in Pakistan.

 

[American Pakistani]

Gulf countries follow their own labor policies and beside Pakistan is incapable of exporting the kind of skilled labor to compete with India and Philippines. Asad Umar is a miserable failure, instead of making accommodation policies, they have taken on aggression and intimidation as a state tool. Which means dollar is fast draining out of the country..in a place where theft, tax evasion and crime economy was the norm, it would take long years to stabilize.

Pakistan does have skilled labor. Plus I was saying that govt should use their friendly terms to make gulf prefer Pakistani labors.

And yes I agree Asad Umar is a garbage with zero know how on economics of a country. He had no plan even when it was well known that IK will make him finance minister.

 

[crankthatskunk]

I have written this few days ago here but months ago on another forum that PTI downfall would come because of Asad Umer. He is good for nothing, showboating idiot, who should have never been made a Finance Minister.
Imran in his simplicity because of talk of this Charlatan duped by him.
He will destroy Pakistan economy. Imran should take all powers from him, even if he wants to keep him as paper tiger kind of Finance Minister. Assemble a team of Economists and ask them to start fixing the economy.
Please please Imran wake up, you are sleep walking in to a disaster. Asad cannot do anything except useless talks.

economy hai koi gari ka engine nhi jo 4 din main ban jay

General please, I know you like one liners but this is not the place or topic for one liners.
The problem with Asad is he is not doing anything. Bane ga tu taab jab kuch kia jaeega, jaab karooge kooch nahi tu kia khaak banee ga!!

 

[VCheng]

**** Asad Umar Finance Minister, IK, Razak....all economic and finance team of government.....dollar now sky rocketed to Rs 143, everything is so expensive in Pakistan, bloody even petrol has increased by damn 12 rupees....what the hell is this government doing?

Why is everything getting so expensive in Pakistan.

Inflation is a byproduct of the falling value of the rupee.

The smaller the value of a currency, the more units required to purchase goods with it. The bigger the gap between what a country consumes and produces, the more likely the value of the currency to fall in value.

Pakistan consumes more than twice ((approx.) what it produces.

 

[crankthatskunk]

Did you even watch/listen to his address? Taxable income is still 12 lakh per year.


Pakistan main to woh bhi nhi bana abhi tak. 91 main laga tha shayad Toyota ka plant, 27 years and still no engine. Aur logon ko mahinay main 1 trillion ki economy chahiye.

This is the problem, 12 Lakhs at current rate comes close to £6660 a year exempt Income. It is almost half of British £12500 personal allowance. Problem is the Per Capita Income of the two countries.
With such exemption, majority of Pakistani population is already out of the tax loop.
They should be charged tax at a lower income thresholds even if it is nominal tax, for bringing more people in tax net.
Whole new approach is needed to galvanized the system.

 

[CrazyZ]

Too early to tell. He should not have mentioned bankruptcy, it hurts confidence.

 

[somebozo]

This is the problem, 12 Lakhs at current rate comes close to £6660 a year exempt Income. It is almost half of British £12500 personal allowance. Problem is the Per Capita Income of the two countries.
With such exemption, majority of Pakistani population is already out of the tax loop.
They should be charged tax at a lower income thresholds even if it is nominal tax, for bringing more people in tax net.
Whole new approach is needed to galvanized the system.

tax system only works when at least 51% of the net population pays tax..which means 51% of your population should be employed on an income which falls in tax net. Pakistan has embarked upon a hedonistic population growth and has become saturated with low menial workforce employed in undocumented economy. No short term solution to this problem.

 

[Pakistani Fighter]

Is Asad Umar Finance Minister a failing minister, unable to fix Pakistan economy?

Almost everyone is started to notice Asad Umar loud talker policies and plans are not good. He has not done anything drastic except following IMF mantra.

Finance Minister Economic Adviser team is weak and useless, where are the experts and professionals of PTI we have in big number doing to fix Pak economy.

• Tax has been levied against same Salaried Professionals who already pay tax before. No agriculture tax, no rich elite taxed
• Limit of Taxable income has been decreased from 12 lakh to even less than 4 lakh, poor salaried pakistanis are being taxed
• Electricity is becoming more expensive than ever before
• Petrol prices will increase from 1-Oct again
• Gas prices raised again
• Daily item price hike is again increasing
• The so-called mini-budget is actually 10 month budget and its nearly full budget
• The so called poor and salaried professionals have not been given actual relief asper finance minister Asad Umar.

Lastly, Asad Umar was announced Finance Minister 4 months ago, and he has no plan, no homework, and no work done.

Please share your views before Pakistan goes bankcrupt, and exonomy becomes disaster, either remove him or bring more economic and financial professionals in his economic team - PTI seriously need advice and more intense study.

Replace him with Dar or Miftah Ismail?

 

[HammerHead081]

Issue with Asad for me is he's not taking any significant and controversial steps which may lead to public anger but improve country's economy in long term.

 

[crankthatskunk]

tax system only works when at least 51% of the net population pays tax..which means 51% of your population should be employed on an income which falls in tax net. Pakistan has embarked upon a hedonistic population growth and has become saturated with low menial workforce employed in undocumented economy. No short term solution to this problem.

That's why you have politicians who should run the country, plan things including how in the future they are going to take care of increase in population, provide basic necessities like Water, Electricity, housing, health, jobs etc etc.
In Pakistan stupid, ignorant and uneducated people elect people like Nawaz Butt and Zardari.
What were they thinking!!! When you select garbage to represent you, don't cry when you are screwed.
These bastards cannot think straight how they are going to plan anything at all!!
That's what I mean with 99% of your population exempt from paying tax, how are you going to survive!! Even those 1% don't pay taxes. Hundreds of thousands shops, restaurants etc make huge money but don't pay much taxes. Same way, no taxes on property transactions, on share etc. etc.
Every sector in itself is a mafia, to which politicians too eagerly bow down, in most cases, they are hands in gloves with those mafias.

This is what is happening at the moment, all those thieves who have their huge wealth stashed away in different ways have started to shift their wealth out, because they know IK wouldn't give them any chances for corruption.
That's the problem for PTI and IK.
These criminals are waiting to ride out this wave of honesty, so with the new government they can go back to their dishonest ways.
RIP Pakistan.

 

[Arsalan 345]

Should sack him asap otherwise no more pti government.only martial law.we are very close to a disaster.

 

[Asian.Century]

Sack this crack stupid....Asad Umar idiot:

Finance Minister says ‘Pakistan’s basic debts are so big that we are near bankruptcy’
National
Web Desk
April 03,2019
He said “If you look at the numbers from PMLN time, there was double digit inflation during PMLN time which we have thankfully not hit as yet.”

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ISLAMABAD: Finance Minister Asad Umar has claimed that Pakistan basic debts are so big that we are near bankruptcy.

The Finance Minister said this in Special Q&A Session with Social Media activists in Islamabad here Wednesday.

“You are going go the IMF with these massive debts in toe for a bailout. We have had to fill big gaps” said Asad Umar.


He said “If you look at the numbers from PMLN time, there was double digit inflation during PMLN time which we have thankfully not hit as yet.”

To a question about rising inflation, Asad Umar said “If you look at the past, inflation affected all stratas of society equally. In fact the poor had higher levels of inflation affecting them.”

“In our tenure this has seen a different trend with the poor feeling relatively less inflation as compared to higher income groups.”

Quoting Hafiz Pasha, finance minister said, Pasha has written that unemployment grew in both PPP and PML-N tenures. “But I will not paint a rosy picture because yes the economy has slowed down, so we are not seeing job creation at a high rate right now.”

To a question, Asad Umar said “You’re saying all my policies are like Ishaq Dar, Ishaq dar says I’ve destroyed the economy! During his time, for the first time in Pakistan’s history our exports didn’t grow.”

About rupee depreciation, dollar has climbed because of economic policies that have led to such huge losses for us as a country. “It’s a basic demand and supply situation.”

The external loan taken by PTI government in 9 months from July-March is 1/3rd of the loan taken by PMLN in same period last year, he said and added "when you see us hit the 12 month mark of our government, it is my prediction that you will see a $6-7 bn decrease in our Current Account Deficit."

Should sack him asap otherwise no more pti government.only martial law.we are very close to a disaster.

 

[El Sidd]

He has Not made an impressive start but i believe PTI simply has Not done their homework or could Not Better judge the overall picture.

The Budget is always political. Maybe next year we can judge. Saudi 10bn will keep the government floating till April.

Hame to loot liya milke fankaaro ne

Holy crap i should be less factual

 

[fitpOsitive]

Is Asad Umar Finance Minister a failing minister, unable to fix Pakistan economy?

Almost everyone is started to notice Asad Umar loud talker policies and plans are not good. He has not done anything drastic except following IMF mantra.

Finance Minister Economic Adviser team is weak and useless, where are the experts and professionals of PTI we have in big number doing to fix Pak economy.

• Tax has been levied against same Salaried Professionals who already pay tax before. No agriculture tax, no rich elite taxed
• Limit of Taxable income has been decreased from 12 lakh to even less than 4 lakh, poor salaried pakistanis are being taxed
• Electricity is becoming more expensive than ever before
• Petrol prices will increase from 1-Oct again
• Gas prices raised again
• Daily item price hike is again increasing
• The so-called mini-budget is actually 10 month budget and its nearly full budget
• The so called poor and salaried professionals have not been given actual relief asper finance minister Asad Umar.

Lastly, Asad Umar was announced Finance Minister 4 months ago, and he has no plan, no homework, and no work done.

Please share your views before Pakistan goes bankcrupt, and exonomy becomes disaster, either remove him or bring more economic and financial professionals in his economic team - PTI seriously need advice and more intense study.

Are you sure that asad umer or anybody else can fix economy alone?