Pakistan bailout: IMF wants details of jet, submarine deals with China

[WarKa DaNG]

Whats their problem and till now why there is no details on the terms and conditions

 

[nahtanbob]

Why repaying Chinese loan is Taboo for IMF? China is also member of IMF, infact 3rd largest party after US and Japan.

why should other IMF members pay for China's loans ?

 

[Khan Kore]

Salaam!

https://www.theweek.in/news/world/p...s-details-jet-submarine-china.html-china.html

Pakistan bailout: IMF wants details of jet, submarine deals with China
There are worries in the IMF Pakistan could use the bailout to repay Chinese loans

Web DeskApril 15, 2019 14:45 IST

A Chinese Yuan class submarine | Wikimedia Commons
A Pakistani newspaper reported on Monday that the International Monetary Fund (IMF) has insisted that Islamabad disclose details of ventures with China, including manufacture of JF-17 fighter jets and procurement of submarines, as a condition for sanctioning a bailout package that could be worth up to $12 billion.

Dawn reported, “the visit of an IMF mission to Islamabad for finalising a bailout package for Pakistan may be delayed as both sides are still engaged in an intense discussion.” In addition to requiring Pakistan to carry out sweeping economic reforms, the IMF has sought “full disclosure” on all financial cooperation between China and Pakistan. This includes “assistance related to infrastructure development, nuclear power plants, joint manufacturing of JF-17 Thunder fighter jets and procurement of submarines,” according to Dawn.

The newspaper added the IMF has sought details of commercial loans worth over $6.5 billion that Pakistan had received from China in the past two-three years.

“IMF officials were also seeking details of the China-Pakistan Economic Corridor (CPEC), along with a written guarantee from both Pakistan and China that the IMF assistance will not be used to repay loans to China,” Dawn reported.

The requirements highlight the fear in the IMF that Pakistan would use an IMF bailout to repay Chinese loans. Earlier this month, three US lawmakers urged the Donald Trump administration to oppose an IMF bailout to Pakistan on the grounds it would finance repayment of Chinese loans. China is investing over $60 billion in Pakistan as part of various projects under CPEC.

This is expected to be the 14thbailout package Pakistan is receiving from the IMF. Pakistan Finance Minister Asad Umar had announced in late March he expected the IMF bailout package to be secured by mid-May.

The JF-17 is the most high-profile strategic venture between Pakistan and China. The Chinese-developed fighter was put into production with Pakistani financing and the Pakistan Air Force is expected to have a fleet of over 150 JF-17 fighters. The JF-17 is expected to replace older Chinese and French-built fighters in the inventory of the Pakistan Air Force. In March, a state-owned media organisation in China reported the JF-17 would getting a radar upgrade.

In December 2018, the New York Times reported China and Pakistan had a “confidential plan” to jointly build a new generation of fighter aircraft and other weapons in a special economic zone built as part of CPEC.

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In October 2015, Pakistan and China finalised a deal to build eight conventional submarines. Four of the vessels would be built in China and the remainder in Karachi. The deal was a watershed for the Pakistan Navy as it has been operating French-built submarines for over 40 years.

The new submarines are thought to be variants of the Chinese Yuan-class ships and will begin delivery to the Pakistan Navy by 2022. In addition to being able to carry torpedoes and anti-ship missiles, there are fears Pakistan could use the new submarines to carry nuclear-armed cruise missiles for a 'second strike' capabilityagainst India.

Both programmes are perceived as being vital for the Pakistani military as it seeks to upgrade it navy and air force. Pakistan is also buying four surface warships from China.

It is the US talking, They want to know your capabilities.

 

[TheDarkKnight]

Its curious and downright stupid to go into vapours because the IMF is seeking FINANCIAL LIABILITY INFORMATION regarding all loans. It is not asking to see what Pakistan is buying or how much.
It wants to know what Pakistan has contracted to pay back so it can asses Pakistans ability to bear any new loans and what structural measures it will need to undergo
This is simple prudence that EVERY bank insists on.
No one is asking Pakistan to go to the IMF.
It is Pakistan that has approached and sought a loan from the IMF but wants its liabilities hidden. No bank would countenance that.

Exactly - its a matter of determining what the liabilities are and, based on those liabilities IMF would want to tune their demands for policy and reforms. It could well be a f22 equivalent secret project, they can’t say “oh uncle sam and the illuminti now want you to roll back these programs now”. Anyway the media is reporting disproportionately on chinese loans; the details have been shared long a ago and is not the main issue anymore as reported below:
https://tribune.com.pk/story/1951552/2-chinese-loan-data-shared-imf-umar/?amp=1
But we keep getting these unsubstantiated rumours being generated to cause confusion by our media - and frankly sometimes from the Indian media.

 

[jupiter2007]

Fake news....

All negotiations completed. It will be finalized and hopefully signed on their next visit to Pakistan.

 

[Hakikat ve Hikmet]

Indians can only lie.... pathetic unhappy & jealous low lives.

Don't worry about them!!! Modi/Hindutva/RSS etc. have shown their dark mindsets to the Ehl-i Dunya by encroaching into their "comfort zone" thanks to 02-27!!! They wanted to teach Pak a lesson only to find themselves at the receiving end!!! Remember, the Israili systems failed...

Now, coming to the finances/economy etc. IK is being armed with all necessary tools to fight the mess out. Looks like the Pak Deep State is also cooperating with IK. Hopefully, IK will mend it in his image the way Reis is doing it in Turkey. It's time to go for an all out attack with the toughest financial, taxation, privatization, corruption etc. reforms possible. It worked out well in Turkey after the financial meltdown in 2000 (Turkey got poorer by a third overnight). Insha'Allah Pak will come out stronger...

Pak's greatest asset is her people. Two thirds of Pak bread earners are self employed and private loan is negligible. Being self-employed is the trait of the Prophets (PBUT) for the highest Bereket lies there. Hence, once the system gets stabilized, organized and disciplined, the economic activities of these self-employed folks would do miracles....

As for the defense spending, I am pretty sure the Pak Deep State has delineated it a long time back from the watchful eyes of the "usual suspects"!!! The way Pak defense activities have been projected it belies the "official" budget it is allocated!!! It has trumped over a 60b$ military machine with ease...

 

[Humble Analyst]

Salaam!

https://www.theweek.in/news/world/p...s-details-jet-submarine-china.html-china.html

Pakistan bailout: IMF wants details of jet, submarine deals with China
There are worries in the IMF Pakistan could use the bailout to repay Chinese loans

Web DeskApril 15, 2019 14:45 IST

A Chinese Yuan class submarine | Wikimedia Commons
A Pakistani newspaper reported on Monday that the International Monetary Fund (IMF) has insisted that Islamabad disclose details of ventures with China, including manufacture of JF-17 fighter jets and procurement of submarines, as a condition for sanctioning a bailout package that could be worth up to $12 billion.

Dawn reported, “the visit of an IMF mission to Islamabad for finalising a bailout package for Pakistan may be delayed as both sides are still engaged in an intense discussion.” In addition to requiring Pakistan to carry out sweeping economic reforms, the IMF has sought “full disclosure” on all financial cooperation between China and Pakistan. This includes “assistance related to infrastructure development, nuclear power plants, joint manufacturing of JF-17 Thunder fighter jets and procurement of submarines,” according to Dawn.

The newspaper added the IMF has sought details of commercial loans worth over $6.5 billion that Pakistan had received from China in the past two-three years.

“IMF officials were also seeking details of the China-Pakistan Economic Corridor (CPEC), along with a written guarantee from both Pakistan and China that the IMF assistance will not be used to repay loans to China,” Dawn reported.

The requirements highlight the fear in the IMF that Pakistan would use an IMF bailout to repay Chinese loans. Earlier this month, three US lawmakers urged the Donald Trump administration to oppose an IMF bailout to Pakistan on the grounds it would finance repayment of Chinese loans. China is investing over $60 billion in Pakistan as part of various projects under CPEC.

This is expected to be the 14thbailout package Pakistan is receiving from the IMF. Pakistan Finance Minister Asad Umar had announced in late March he expected the IMF bailout package to be secured by mid-May.

The JF-17 is the most high-profile strategic venture between Pakistan and China. The Chinese-developed fighter was put into production with Pakistani financing and the Pakistan Air Force is expected to have a fleet of over 150 JF-17 fighters. The JF-17 is expected to replace older Chinese and French-built fighters in the inventory of the Pakistan Air Force. In March, a state-owned media organisation in China reported the JF-17 would getting a radar upgrade.

In December 2018, the New York Times reported China and Pakistan had a “confidential plan” to jointly build a new generation of fighter aircraft and other weapons in a special economic zone built as part of CPEC.

ALSO READ

• Pakistan forms team to probe ISIS-led Hazarganj attack
• No change in Pakistan's attitude towards militancy, says ex-envoy Haqqani
• Pakistan: 14 killed in bomb blast in Quetta
• Pakistan demands apology from the UK for Jallianwala Bagh massacre
• India has scope for reducing untargeted food, fertiliser subsidies: IMF
• IMF says some reforms in India show benefits of digitalisation

In October 2015, Pakistan and China finalised a deal to build eight conventional submarines. Four of the vessels would be built in China and the remainder in Karachi. The deal was a watershed for the Pakistan Navy as it has been operating French-built submarines for over 40 years.

The new submarines are thought to be variants of the Chinese Yuan-class ships and will begin delivery to the Pakistan Navy by 2022. In addition to being able to carry torpedoes and anti-ship missiles, there are fears Pakistan could use the new submarines to carry nuclear-armed cruise missiles for a 'second strike' capabilityagainst India.

Both programmes are perceived as being vital for the Pakistani military as it seeks to upgrade it navy and air force. Pakistan is also buying four surface warships from China.

If that s the case the intentions are of IMF are clear and their pawn NS unfortunately is out of the government, good riddance.

 

[Asian.Century]

Haram khori by IMF.

Thanks to Asad Umar and PTI govt and IMF wants this serious things :

The IMF insists on full disclosure of all financial cooperation between Pakistan and China, including assistance related to infrastructure development, nuclear power plants, joint manufacturing of JF-17 Thunder fighter jets and procurement of submarines. The IMF is also demanding details of more than USD 6.5 billion of commercial loans Pakistan has received from China in the past two and a half years. In July, China also deposited USD 2 billion with the State Bank of Pakistan.The finance minister is likely to visit China on April 25 for talks on the IMF concerns over CPEC and IMF will wait to hear from him before it finalises the bailout package, the daily reported.

 

[VCheng]

Haram khori by IMF.

Thanks to Asad Umar and PTI govt and IMF wants this serious things :

The IMF insists on full disclosure of all financial cooperation between Pakistan and China, including assistance related to infrastructure development, nuclear power plants, joint manufacturing of JF-17 Thunder fighter jets and procurement of submarines. The IMF is also demanding details of more than USD 6.5 billion of commercial loans Pakistan has received from China in the past two and a half years. In July, China also deposited USD 2 billion with the State Bank of Pakistan.The finance minister is likely to visit China on April 25 for talks on the IMF concerns over CPEC and IMF will wait to hear from him before it finalises the bailout package, the daily reported.

The solution is up to PMIK to decide: do not go to the IMF for a bailout.

 

[Vortex]

The solution is up to PMIK to decide: do not go to the IMF for a bailout.

The solution is up to Pakistanis to start to pay taxes. Isn’t it ?

 

[VCheng]

The solution is up to Pakistanis to start to pay taxes. Isn’t it ?

A vast majority of Pakistani already pay indirect taxes according to its regressive system of taxation.

 

[Vapnope]

IMF do not want to pay Chinese Loan. Very simple and clear and that is why they want to know more about deals with China.

 

[Vortex]

A vast majority of Pakistani already pay indirect taxes according to its regressive system of taxation.

I don’t know the rate of the indirect taxe in Pakistan. Here in France the VAT is 20% on most of goods bought.
The salary is cut off about 27% for différents taxes.( health care insurance, retirement pension etc)

So what is the indirect taxe rate on commerce and on salary ?

Is the indirect taxation enough ?

Of course bring also accountability and reduce the corruption too.