"It was our Mistake and mismanaged imports in 2 months which caused CAD and devaluation" Shaukat Tarin

[Desprado]

Today Market collapsed due to Yesterday Shaukat tarin Statement on Kamran Khan Show that " It was my mistake and ECC mistake that underestimated imports and overestimated the export. To my personal view i am shocked that export is only 9% of GDP this year and import is touching more than 20% of GDP this year, which is will blast our growth of ecomony into pieces. I am admit my mistake we allowed too much useless, luxuries items imports and non essential item, which created a useless demand of import. We mismanaged the growth and it has now overheated. I will ban on all Luxury items, non essential item and other items as now honeymoon of import is over because we lack of FDI and dollars that we wanted. We also overestimated FDI and our savior was kids on startup that i am glad that saved us and RDA inflows otherwise things would have gone out hands. Moreover, the currency devalued due to our mistake and over relied on it and it lead to 11% devaluation and it our mistake we put all our eggs on devaluation neither it benefited us on export or reduce imports. Now we you Rise in Interest rate and our more focus will be tight on fiscal Policiy, which help us to stop this bubble explode"

https://twitter.com/x/status/1440370951024046088

https://twitter.com/x/status/1440587029247500299

https://twitter.com/x/status/1440590085561352192

You should thank god you have seen this guy blunder in 2 months otherwise he would take Pakistan more worse situation than Isaq Dar left in 2018.

Some PTI fans insulted me and blame that i giving wrong perception and i was Indian propaganda and now you we are going for a massive massive tight fiscal policy.

 

[HammerHead081]

Everything you used to say, he exactly said that yet people here called you names. How the turntables.

 

[Mentee]

It has got nothing to do with i.k you should go ask the p.m of Swaziland.

 

[VCheng]

Everything you used to say, he exactly said that yet people here called you names. How the turntables.

The real questions here should be where is the competence needed to rectify the situation? The same person? Who chose him in the first place? Who should be next? Or not?

 

[Desprado]

Import is going to checked on 5 days bases now and it will be over watched now.

SBP mandates banks to share five-day schedule of import payments

* Also directs banks to seek permission for imports that are valued at $500,000 per transaction, cutting in half the original payment ceiling of $1 million * Move comes as part of measures to better forecast imports

www.brecorder.com

 

[Protest_again]

@Desprado you were right from the beginning. PDF Pakistanis are too much taken in to Imran's charisma and can't see what is happening in front of their eyes.

 

[Pak Nationalist]

Today Market collapsed due to Yesterday Shaukat tarin Statement on Kamran Khan Show that " It was my mistake and ECC mistake that underestimated imports and overestimated the export. To my personal view i am shocked that export is only 9% of GDP this year and import is touching more than 20% of GDP this year, which is will blast our growth of ecomony into pieces. I am admit my mistake we allowed too much useless, luxuries items imports and non essential item, which created a useless demand of import. We mismanaged the growth and it has now overheated. I will ban on all Luxury items, non essential item and other items as now honeymoon of import is over because we lack of FDI and dollars that we wanted. We also overestimated FDI and our savior was kids on startup that i am glad that saved us and RDA inflows otherwise things would have gone out hands. Moreover, the currency devalued due to our mistake and over relied on it and it lead to 11% devaluation and it our mistake we put all our eggs on devaluation neither it benefited us on export or reduce imports. Now we you Rise in Interest rate and our more focus will be tight on fiscal Policiy, which help us to stop this bubble explode"

https://twitter.com/x/status/1440370951024046088

https://twitter.com/x/status/1440587029247500299

https://twitter.com/x/status/1440590085561352192

You should thank god you have seen this guy blunder in 2 months otherwise he would take Pakistan more worse situation than Isaq Dar left in 2018.

Some PTI fans insulted me and blame that i giving wrong perception and i was Indian propaganda and now you we are going for a massive massive tight fiscal policy.

You have misquoted him very liberally. I watched the entire interview and found your post replete with hyperbole, self interpretations, extrapolation from what he said. I am a critic of the PTI government in many things myself, but intellectual honesty must reign supreme even in our criticism. Please review your post.

@Desprado you were right from the beginning. PDF Pakistanis are too much taken in to Imran's charisma and can't see what is happening in front of their eyes.

Don't make sweeping statements. Watch the interview for yourself. The OP is clearly putting many words in the mouth of FM.

 

[AsifIjaz]

Today Market collapsed due to Yesterday Shaukat tarin Statement on Kamran Khan Show that " It was my mistake and ECC mistake that underestimated imports and overestimated the export. To my personal view i am shocked that export is only 9% of GDP this year and import is touching more than 20% of GDP this year, which is will blast our growth of ecomony into pieces. I am admit my mistake we allowed too much useless, luxuries items imports and non essential item, which created a useless demand of import. We mismanaged the growth and it has now overheated. I will ban on all Luxury items, non essential item and other items as now honeymoon of import is over because we lack of FDI and dollars that we wanted. We also overestimated FDI and our savior was kids on startup that i am glad that saved us and RDA inflows otherwise things would have gone out hands. Moreover, the currency devalued due to our mistake and over relied on it and it lead to 11% devaluation and it our mistake we put all our eggs on devaluation neither it benefited us on export or reduce imports. Now we you Rise in Interest rate and our more focus will be tight on fiscal Policiy, which help us to stop this bubble explode"

https://twitter.com/x/status/1440370951024046088

https://twitter.com/x/status/1440587029247500299

https://twitter.com/x/status/1440590085561352192

You should thank god you have seen this guy blunder in 2 months otherwise he would take Pakistan more worse situation than Isaq Dar left in 2018.

Some PTI fans insulted me and blame that i giving wrong perception and i was Indian propaganda and now you we are going for a massive massive tight fiscal policy.

You are misquoting him brother. It's like he said 20 lines and u selected 1 or 2 of them that fit your narrative. Reference to the context of these lines is important and unfortunately missing from your post.

 

[Riz]

Well done keep trying, people of Pakistan trust you atleast you are not looting poor Pakistanis money and buying flats in UK , we believe khan will fix the economy in his two terms

 

[Desprado]

You have misquoted him very liberally. I watched the entire interview and found your post replete with hyperbole, self interpretations, extrapolation from what he said. I am a critic of the PTI government in many things myself, but intellectual honesty must reign supreme even in our criticism. Please review your post.

Don't make sweeping statements. Watch the interview for yourself. The OP is clearly putting many words in the mouth of FM.

What i misquote him? He said SBP did right to high interest rate, Honeymoon of import are over, we will tight fiscal policy, it our mistake that we only rely on exchange rate and growth got unsustainable
and export as of now is only 9% of GDP and import has crossed more than 20% of GDP, we only relied on devaluation, which is exhausted and we overused it, we ban and put high tariff on luxury items, FDI is pathetic, Start up and RDA inflows save the day and IT export will cross 50 billion in next 2 year. What i misquote him?

 

[hydrabadi_arab]

@Desprado you were right from the beginning. PDF Pakistanis are too much taken in to Imran's charisma and can't see what is happening in front of their eyes.

Watch video, thats not what Tareen said. Desperado is lying as usual. Tax collection is up 45% YOY. Economy is heating up but exports are not growing enough to keep CAD under control. They will increase tariff on non essential items to reduce CAD.

Good news is unlike Dollar Dar, this govt know that unsustainable growth is no good in the long run. Hence quick reaction after August CAD numbers. With remittances all time high and exports also growing, PTI can afford to have import led growth rate of 7-8% which is higher then any year of Nawaz Sharif. But it will only last till 2023. Govt after that will have to go back to IMF.

What i misquote him? He said SBP did right to high interest rate, Honeymoon of import are over, we will tight fiscal policy, it our mistake that we only rely on exchange rate and growth got unsustainable
and export as of now is only 9% of GDP and import has crossed more than 20% of GDP, we only relied on devaluation, which is exhausted and we overused it, we ban and put high tariff on luxury items, FDI is pathetic, Start up and RDA inflows save the day and IT export will cross 50 billion in next 2 year. What i misquote him?

If only Dollar Dar reacted this quickly and didnt left Pakistan with $20b CAD.

 

[ziaulislam]

You are misquoting him brother. It's like he said 20 lines and u selected 1 or 2 of them that fit your narrative. Reference to the context of these lines is important and unfortunately missing from your post.

You cant blame him for doing his job
I like honest people
Pakistan need people who work for what they are paid for
Rozee halal karna hey bhai ney

Well done keep trying, people of Pakistan trust you atleast you are not looting poor Pakistanis money and buying flats in UK , we believe khan will fix the economy in his two terms

Fixing economy is one thing becoming a rich country doesnt happen in decades..
Look at boming vietname and bengladesh..still poor despite a whole decade of boom(they were never in crisis as we were left in 2018)