SBD-3
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Again as I said before, economic management is not a simple phenomenon.You can jump if you have will otherwise there are plenty of excuses. It is is just a habit that governments blame the previous ones .. nothing else. We need to see the performance of this current year exclusively and current scenario is:
So what are you defending basically?
- Debts increase and Pakistan is stuck in a vicious cycle of IMF. This is brain child of Isaac Daar and not Hina Rabbani Khar or Hafeez Shekh so please stop blaming previous governments.
- Electricity in Pakistan is the expensive most in the South Asia region.
- No substantial increase in growth rate, GDP. Government couldn't even achieve 3.9% in agriculture and public sector. Agriculture where you don't need any special extra effort like industry. Blame PPP government for that?
- PMLN Government is missing the twice revised target of Tax collection. Is it also due to back lag from previous regimes?
- In contrast with the target of 15.1% of the GDP, the share of investments in 2013-14 remained 14%. The savings-to-GDP ratio remained 13% in 2013-14 as opposed to the original target of 14%. Now this is the target PMLN set and claimed that they would achieve that in order to make headline but ground reality is opposite. who is culprit here?
- Current account deficit in 2013-14 is up by 37% Year-on-Year basis. Isn't it incompetency of PMLN?
- The average CPI inflation of 8.7% and PMLN claims that dollar value came down. It is such a joke which is factually wrong and hence the inflation.
- The FDI decreased by 13% in this year. So is it also due to bad economic policies of zardari?
Come on man and try to defend something which is substantial. PMLN is merely hollow slogans and propaganda! They just make headlines that they will do this and that but in fact the result is zero. They are boondoggling the nation that they have revived the economic condition of Pakistan by spending public money on ads. I am here and by Allah's grace you will also be here after five years. Will see if there is any substantial change in the Pakistani economy due to PMLN's experienced people's experience.
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1- IMF's "loan" -as people famously put it here- is actually a Current Account support facility (SBA) and the amount can only be utilized for temporarily bridging the current account gap.The amount is repaid automatically during the period of SBA and thus doesn't count as hardcore debt or a debt which stays on the national books.
2-Probably you can also add the mix of electricity generation in Pakistan.....i mean everybody knows that we have been producing oil based electricity. Secondly the portion of hydal to total general has significantly fallen (~30% in 1992 to around 11% now). Plus add around 20-30% distribution losses and of course the theft over which the provincial governments rather prefer to play ethnicity card than cooperate. So its only obvious that electricity is expensive.
3-At the time of setting it, both Dar and IMF insisted that the target is very ambitious. Thats why IMF agreed for a downward revision. The tax flows increased 16% YoY though.
4-If you had remembered, the IMF's forecast for Pakistani growth was around 3.2% while international agencies put the expected growth at 3%. The actual growth 4.14% YoY still outperforms not only the forecasts but higher than that of previous year's.
So probably being rehotric is an easy job....however, if you have a look at the economic indicators probably, things are not as bad as you're trying to portray....
http://www.sbp.org.pk/m_policy/2014/MPS-May-2014-Compendium.pdf