Pak plans to seek USD 15 bn in new loans to pay external public debt

[Cookie Monster]

you live beyond your means and you blame your politicians

what do politicians do ?

It's better to not poke ur nose in things u don't understand.

Who is living beyond their means? The ppl? U think these loans are going to the ppl?
Corrupt governments(like that of Zardari...among others) loot the national wealth. For an example if there's a project to build a road...they would intentionally "approve" a price higher than it's true cost. The project will get assigned to some lap dog contractor who will "get the money" and give kickbacks to his patrons sitting in the government. Then if the ppl are lucky they would get a decent road...more often even that road will be of subpar quality and would be in serious need of repairs rather soon(which would be just another opportunity for more such corruption). Once the country's own money is looted...then these assholes run to get loans to make up for the massive difference...which is also looted. In short ppl hardly benefit...the few elites(whether as politicians, bureaucrats, contractors, industrialists, or generals) are the ones who stack up their bank accounts.

 

[nahtanbob]

It's better to not poke ur nose in things u don't understand.

Who is living beyond their means? The ppl? U think these loans are going to the ppl?
Corrupt governments(like that of Zardari...among others) loot the national wealth. For an example if there's a project to build a road...they would intentionally "approve" a price higher than it's true cost. The project will get assigned to some lap dog contractor who will "get the money" and give kickbacks to his patrons sitting in the government. Then if the ppl are lucky they would get a decent road...more often even that road will be of subpar quality and would be in serious need of repairs rather soon(which would be just another opportunity for more such corruption). Once the country's own money is looted...then these assholes run to get loans to make up for the massive difference...which is also looted. In short ppl hardly benefit...the few elites(whether as politicians, bureaucrats, contractors, industrialists, or generals) are the ones who stack up their bank accounts.

i understand your complaints. corruption is your internal problem. borrowing money from external sources is not.

 

[blueazure]

It's better to not poke ur nose in things u don't understand.

Who is living beyond their means? The ppl? U think these loans are going to the ppl?
Corrupt governments(like that of Zardari...among others) loot the national wealth. For an example if there's a project to build a road...they would intentionally "approve" a price higher than it's true cost. The project will get assigned to some lap dog contractor who will "get the money" and give kickbacks to his patrons sitting in the government. Then if the ppl are lucky they would get a decent road...more often even that road will be of subpar quality and would be in serious need of repairs rather soon(which would be just another opportunity for more such corruption). Once the country's own money is looted...then these assholes run to get loans to make up for the massive difference...which is also looted. In short ppl hardly benefit...the few elites(whether as politicians, bureaucrats, contractors, industrialists, or generals) are the ones who stack up their bank accounts.

soon, the hitman aka reza baqir will pack his bags and fly away


using one credit card to pay off the other ,, super

 

[Arsalan]

i pray to god this is fake news, other wise , get ready to be screwed double time


PTI has now officially sold us to the devil.


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


currency devaluation = check

raise tarriffs, = check

increase tarriffs = check

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im looking at social anarchy and chaos down the road .


it time people now come out and demand an end to this madness

what should have been the alternative?

 

[Caprxl]

what should have been the alternative?

 

[Cookie Monster]

So u r saying it is the ppl(an average person in Pak) who is borrowing this money from IMF, World Bank, ADB, etc. and living lavishly beyond his/her means? That was ur original argument wasn't it? That "stop blaming the politicians and quit living beyond ur means"...
...so if according to u...politicians are not responsible...then it must be the ppl who are living beyond their means and borrowing money.

i understand your complaints. corruption is your internal problem. borrowing money from external sources is not.

Who do u think borrows this money? It's the same politicians who do...corruption leads to borrowing money from external sources...these same corrupt leaders run to IMF and other such entities.

Do explain if it's not the corrupt politicians...then who is it that is to blame. I'm curious to know...so plz do provide details rather than one liners.

 

[nahtanbob]

So u r saying it is the ppl(an average person in Pak) who is borrowing this money from IMF, World Bank, ADB, etc. and living lavishly beyond his/her means? That was ur original argument wasn't it? That "stop blaming the politicians and quit living beyond ur means"...
...so if according to u...politicians are not responsible...then it must be the ppl who are living beyond their means and borrowing money.

Who do u think borrows this money? It's the same politicians who do...corruption leads to borrowing money from external sources...these same corrupt leaders run to IMF and other such entities.

Do explain if it's not the corrupt politicians...then who is it that is to blame. I'm curious to know...so plz do provide details rather than one liners.

What about all the subsidies, unpaid electricity bills ?

 

[Cookie Monster]

What about all the subsidies, unpaid electricity bills ?

To whom? Like I said...all u have been saying are one liners...while u have no idea about the ground realities bcuz u haven't lived there.

Ask the ppl here who live in Pakistan. How they pay an arm and a leg in electricity bills. If it's better now(I'm not sure how much it has improved over the years)...then surely they can recount to u their horror stories from the time of PPP(not too long ago). There were extended blackouts...due to power shortages...and yet ppl were still being billed for electricity that they weren't even being provided.

U must be talking about the elites(the same ppl who have and abuse power) who have the audacity to not pay electric bills...and then have enough clout to get away with it too.

Now since the above is cleared...could u explain to me how the average Pakistani is living beyond his means by borrowing?

 

[ali_raza]

jahil people with zionist drum again
before even researching anything

 

[ARMalik]

jahil people with zionist drum again
before even researching anything

Right Mr Smarty. Do you understand basic economics? Do you understand the role of a Central Bank? Explain why IMF is not allowing SBP to print money for its own government and its own people?

https://www.arabnews.pk/node/1636076/pakistan
Pakistan central bank will no longer finance government deficit

KARACHI: Pakistan will follow International Monetary Fund (IMF) recommendations and amend a law by which the central bank was printing money to cover government deficits, a top official said on Monday.

“This type of money printing was a cause of inflation in the country. The government is going to amend a relevant SBP act which will enhance the autonomy of the state bank and legally prevent this type of money printing,” State Bank of Pakistan governor Dr. Reza Baqir said during an English Speaking Union event in Karachi.

The central bank’s increased autonomy and stop to its monetization of government debts are in compliance with IMF recommendations under Pakistan’s $6 billion bailout program.

“This will be another institutional reform which will help control the structural inflation,” Baqir said, adding that the practice of deficit financing has not been in place during the current fiscal year and the central bank is “confident inflation will come down.”

 

[fisher1]

Who even cares at this point.

We have so much wheat yet we were starved and sold it expensive by no other than claimants of Riasat e Medina.

Pakistan doesn't belong to its people. Pakistan belongs to GHQ and elites and politicians. Let them worry about the loans and crap like that.

We will just suffer. Just like any African country residents are.

 

[ARMalik]

Who even cares at this point.

We have so much wheat yet we were starved and sold it expensive by no other than claimants of Riasat e Medina.

Pakistan doesn't belong to its people. Pakistan belongs to GHQ and elites and politicians. Let them worry about the loans and crap like that.

We will just suffer. Just like any African country residents are.

That is 100% right. This country has very unfortunately become a corruption deep hole with the active help of elites in Military and the Establishment. I just cannot believe how these corrupts have sold-off the State bank of Pakistan to foreign entities.

 

[Hiraa]

Doomed. Our rupee to fall even further.

 

[Flight of falcon]

Obviously bunch of uneducated arastotles, Indian piss drinkers , Patwari inbreds decides to come together since they all have a same genetic code and created this news out of their butt.

At least look at the source ... google anything related to Pakistan economy and you will see as if we went bankrupt in 2019 and Chinese replaced Pakistani flag in the Parliament House .

How stupid and moronic above posts really are and look at the usual suspects ..... PML chamchas like batboy are fanning and puking their non existent wisdom all over.

The truth of the matter is this. The money is extremely cheap right now. Although I highly doubt the news there may be a good possibility to pay off expensive loans and borrow at extremely low rate available in the market .

since COVId the yield on bonds is extremely low and LiBoR rate is almost zero.

doea any bloody genius knows what is the LIBOR rate right now?

It’s almost zero or in some cases negative. If one is paying six percent interest and now the money is available at 2 percent ...... do the F.... calculations......15 billion at 2 percent va 6 percent ........
The saving is almost $600 million per year.....

 

[Armchair]

Someone needs to kick out the zionists and their puppets from this country while giving the world a middle finger on the loans. They ravaged Pakistans economy with the soviet war and now the war on terror. Pakistan has paid its debts long time ago.

If only someone had the guts not to appease these satanic forces!!!!

Exactly my sentiments. Can the government at least stop luxury and other nonproductive imports of every mindless thing humanly conceived? On the one hand Pak is importing like its a prince and on the other hand begging for loans. It is so incredibly ridiculous that its hard to express in words.