Pakistan bailout program: IMF likely to release $550m

[13 komaun]

Thats why Asia needs BRICS bank

 

[Nilesh Singh]

We lost $4 billion dollars by dropping oil prices, didn't give $4 billion in subsidy (you're counting it twice).

Afghan, China, Bangla and many other nations have similar price like India. They're all using it to get their budget in order. Meanwhile in Pakistan, we're taking loans, paying interest on top (if we borrow $4 billion, with interest that is tens of millions extra).

And people in our country still complaining that why haven't oil prices dropped further and gov't making kickbacks and abusing the poor and this gov't should die in hell fire etc.

Sorry, my mistake in understanding on the 4 billion dollar part
As you are saying Pakistan neighbors are going for more prudent economic recovery why Pakistan is flowing opposite. PM Nawaz is in majority and hardly 2 years has passed ha has almost another 1 to 2 years to take tough decision to take Pakistan economy on track and in next election time he can become conservative and dole out some freebee, but what is the use of coming into government if you are thinking how they are going to win the next election. There is something fundamentally wrong in Pakistan democratic system, whoever party come to rule they do not do their job, but when in opposition they do and say all the right thing.
If politician are not up to the standard to hold post like Finance minister why not bring somebody from outside like in India we brought Manmohan Sings from World bank in 1991 and he changed complete face of economic India (But we can debate on his PM skill some other time). I think Sartaz Aziz was brought from CITIBANK if i am correct in Musharraf time and those years Pakistan GDP was growing at good percentage.

 

[WishLivePak]

Sorry, my mistake in understanding on the 4 billion dollar part
As you are saying Pakistan neighbors are going for more prudent economic recovery why Pakistan is flowing opposite. PM Nawaz is in majority and hardly 2 years has passed ha has almost another 1 to 2 years to take tough decision to take Pakistan economy on track and in next election time he can become conservative and dole out some freebee, but what is the use of coming into government if you are thinking how they are going to win the next election. There is something fundamentally wrong in Pakistan democratic system, whoever party come to rule they do not do their job, but when in opposition they do and say all the right thing.
If politician are not up to the standard to hold post like Finance minister why not bring somebody from outside like in India we brought Manmohan Sings from World bank in 1991 and he changed complete face of economic India (But we can debate on his PM skill some other time). I think Sartaz Aziz was brought from CITIBANK if i am correct in Musharraf time and those years Pakistan GDP was growing at good percentage.

Because Nawaz failed to deliver. And Imran khan's dharna pressure. Both played major role. February may not have seen price drop but due to oil shortage in Janruary, it has huge humiliation, so they are using price drop to ease pressure.

This is why Imran Khan can't come out on streets again, because Nawaz can lower the price even further (for other commodities too that rely on oil) . It's sad that these people are messing up state's economy due to their own failure and political pressure.

In the end, Pakistan losses. Bangladesh is not far from us, even though they started in a bad shape. Even Afghanistan knows what to do with itself (example, political parties reached compromise and they kept oil prices like the neighbours.

 

[Orakzai]

Our politcians cannot make sound and hard decisions. Afterall, our finanace minister is an accountant.

I keep saying, we gave $4 billion of benefit to people by reducing price of oil. Instead, we could've use that money to pay circular debt, boost our rupee and do not take any loans (which carry interest, that is haram + why borrow with interest when you can use money from home).

India was smart and they dropped price to 100 rupees like other countries in region and Pakistan did 70 rupees.

brother why are you lying?? firstly in india per litre patrol is 58 rupees so that is one lie of your's.
Petrol price cut by Rs 2.42 per litre, diesel Rs 2.25 a litre; excise duty hiked | The Indian Express
secondly Pakistan's whole year's bill for oil imports is no more then $15 billions and that was when in international market prices were over a $100 a barrel which has come down to under $60 so our Government has saved in billions already in oil imports, and you are tell us that they have given us $4 billion benefit??? are you serious??? and that too in just 2 months?? i seriously doubt that within those two moths the whole country's oil import bill was that much let alone $4 billion in BENEFITS you are talking about?

Sorry, my mistake in understanding on the 4 billion dollar part
As you are saying Pakistan neighbors are going for more prudent economic recovery why Pakistan is flowing opposite. PM Nawaz is in majority and hardly 2 years has passed ha has almost another 1 to 2 years to take tough decision to take Pakistan economy on track and in next election time he can become conservative and dole out some freebee, but what is the use of coming into government if you are thinking how they are going to win the next election. There is something fundamentally wrong in Pakistan democratic system, whoever party come to rule they do not do their job, but when in opposition they do and say all the right thing.
If politician are not up to the standard to hold post like Finance minister why not bring somebody from outside like in India we brought Manmohan Sings from World bank in 1991 and he changed complete face of economic India (But we can debate on his PM skill some other time). I think Sartaz Aziz was brought from CITIBANK if i am correct in Musharraf time and those years Pakistan GDP was growing at good percentage.

does ones mind even accept that $4 billion figure??? that too of a country where the whole years oil import is not more then $15 billion when oil is over a $100 per barrel???(with under $60 a barrel it should be half)
i don't know where on earth did he come up from that figure. my friend is blinded by loyalty to his bad shah.

 

[Nilesh Singh]

Because Nawaz failed to deliver. And Imran khan's dharna pressure. Both played major role. February may not have seen price drop but due to oil shortage in Janruary, it has huge humiliation, so they are using price drop to ease pressure.

This is why Imran Khan can't come out on streets again, because Nawaz can lower the price even further (for other commodities too that rely on oil) . It's sad that these people are messing up state's economy due to their own failure and political pressure.

In the end, Pakistan losses. Bangladesh is not far from us, even though they started in a bad shape. Even Afghanistan knows what to do with itself (example, political parties reached compromise and they kept oil prices like the neighbours.

But man i can't understand it seems everybody know there is problem on economic front, what next!!! PM cant just sit on the matter for another 3 years, he will take Pakistani economy into the drain. With lower Oil prices many reforms which was not possible now can be done without much fuss, but the real question is who is going to guide it.
Can you tell me what Pakistan is going to do, it is loosing valuable time can't PM just say to Opposition to hell with them and start the economic recovery and face the opposition 3 year later. They are in majority and should not have any problem in passing imp. legislation in parliament. Just my thought.

 

[WishLivePak]

brother why are you lying?? firstly in india per litre patrol is 58 rupees so that is one lie of your's.
Petrol price cut by Rs 2.42 per litre, diesel Rs 2.25 a litre; excise duty hiked | The Indian Express
secondly Pakistan's whole year's bill for oil imports is no more then $15 billions and that was when in international market prices were over a $100 a barrel which has come down to under $60 so our Government has saved in billions already in oil imports, and you are tell us that they have given us $4 billion benefit??? are you serious??? and that too in just 2 months?? i seriously doubt that within those two moths the whole country's oil import bill was that much let alone $4 billion in BENEFITS you are talking about?



does ones mind even accept that $4 billion figure??? that too of a country where the whole years oil import is not more then $15 billion when oil is over a $100 per barrel???(with under $60 a barrel it should be half)
i don't know where on earth did he come up from that figure. my friend is blinded by loyalty to his bad shah.

Brother, why are you making stuff up.

That is 58 INDIAN RUPEES , not Pakistanis. Mine converted INR to PKR, so we're comparing apples to apples. Please google search "globaloilprices" and it'll do the conversion for you.

Pakistan would've saved money on oil imports even if it charges people 100 rupees. Albiet we would've imported less, the point is, we save money nonetheless. The benefit of $4 billion is since April to Janruary. I didn't say in past 2 months.

So please stop misquoting me.

But man i can't understand it seems everybody know there is problem on economic front, what next!!! PM cant just sit on the matter for another 3 years, he will take Pakistani economy into the drain. With lower Oil prices many reforms which was not possible now can be done without much fuss, but the real question is who is going to guide it.
Can you tell me what Pakistan is going to do, it is loosing valuable time can't PM just say to Opposition to hell with them and start the economic recovery and face the opposition 3 year later. They are in majority and should not have any problem in passing imp. legislation in parliament. Just my thought.

Well, he isn't good, but he's our best choice sadly.

Many of us wanted Imran to become PM, but he turned out to be a little crying baby and many of us feel relieved to know that he didn't get to be PM. So now we're stuck with Nawaz until there is a new leadership or current leadership comes to its sense.

Imran has come to its senses and knows he has failed miserbly. So he's giving attention to the province now. If in 2018 it's found out that he learned his lesson, maybe we will vote him or see if Nawaz makes use of his third chance. Otherwise, we're heading towards catastrophe (coalition gov't).

I'm studying economics abroad and hope to help out the gov't one day. So there is new generation of us cooking up in background and Pakistan can change in the next 20 years as these politicians die (Nawaz is 70~, Imran is 70~, zardari is 60 I think, Musharraf is 70. anyway, they're are all old except bilalwal but he's a bit immature).

 

[Nilesh Singh]

firstly in india per litre patrol is 58 rupees so that is one lie of your's.

First Rs. 58 is Delhi petrol price and other states are having different prices as they levi state sales tax accordingly. In India average price right now is Rs.62 per lit. for petrol. Now he was converting the Indian Rs. to Pakistani Rs. and quoting accordingly so it will around Rs.94 to Rs.96 as per Pakistani currency. So he was quoting correct figures. you need to see my previous quote to see what India is doing right now to contain its fiscal defisit front with oil prices down and according to @WishLivePak he wants Pakistan to follow same economic recovery path for Pakistan also, and in this India is not alone Bangladesh, Afghanistan , Srilanka all are doing the same thing for their economy. Instead of bashing others comment you need to read the previous post first.

 

[SrNair]

PM Nawaz Sharif asked for more loans and increase debt, what a pig.

But he have enough time to spend for Kashmir .


On topic :Business as Usual.

India is oil depended country, so is Afghanistan, Bangladesh and China. They all charge 100~ rupees, but it is Pakistan where we charge 70 rupees.

There is a reason the world is progressing and we're going backwards.


"hindu" gdp ruined us.

Now when I call any Canadian company, I get an indian trying to help me. India stealing jobs from Pakistan! Share a few, please?

Anyway, the reason our GDP collapse was due to nuclear testing, terrorism, army and civilians power shuffle, load shedding and list goes on. But these are some of the major (first era was the shuffle, second era was terrorism and still continues and third era is load shedding).

I have doubt in thst.If you meant about price of petrol perlitre then it is only 59 in Delhi.

 

[Orakzai]

Brother, why are you making stuff up.

That is 58 INDIAN RUPEES , not Pakistanis. Mine converted INR to PKR, so we're comparing apples to apples. Please google search "globaloilprices" and it'll do the conversion for you.

Pakistan would've saved money on oil imports even if it charges people 100 rupees. Albiet we would've imported less, the point is, we save money nonetheless. The benefit of $4 billion is since April to Janruary. I didn't say in past 2 months.

So please stop misquoting me.


Well, he isn't good, but he's our best choice sadly.

Many of us wanted Imran to become PM, but he turned out to be a little crying baby and many of us feel relieved to know that he didn't get to be PM. So now we're stuck with Nawaz until there is a new leadership or current leadership comes to its sense.

Imran has come to its senses and knows he has failed miserbly. So he's giving attention to the province now. If in 2018 it's found out that he learned his lesson, maybe we will vote him or see if Nawaz makes use of his third chance. Otherwise, we're heading towards catastrophe (coalition gov't).

I'm studying economics abroad and hope to help out the gov't one day. So there is new generation of us cooking up in background and Pakistan can change in the next 20 years as these politicians die (Nawaz is 70~, Imran is 70~, zardari is 60 I think, Musharraf is 70. anyway, they're are all old except bilalwal but he's a bit immature).

man i swear i am lost of words to your sanity on this one forgive me but i had to say it.
where on earth did you come up with that $4 billion figure any link???
that 2 months were not misquotation but they were my words coz even in november last year petrol prices were more then 93 rupees a litre and in december they were 83 which gradually fell down so what benefits from june are you talking about???

 

[Nilesh Singh]

Brother, why are you making stuff up.

That is 58 INDIAN RUPEES , not Pakistanis. Mine converted INR to PKR, so we're comparing apples to apples. Please google search "globaloilprices" and it'll do the conversion for you.

Pakistan would've saved money on oil imports even if it charges people 100 rupees. Albiet we would've imported less, the point is, we save money nonetheless. The benefit of $4 billion is since April to Janruary. I didn't say in past 2 months.

So please stop misquoting me.


Well, he isn't good, but he's our best choice sadly.

Many of us wanted Imran to become PM, but he turned out to be a little crying baby and many of us feel relieved to know that he didn't get to be PM. So now we're stuck with Nawaz until there is a new leadership or current leadership comes to its sense.

Imran has come to its senses and knows he has failed miserbly. So he's


giving attention to the province now. If in 2018 it's found out that he learned his lesson, maybe we will vote him or see if Nawaz makes use of his third chance. Otherwise, we're heading towards catastrophe (coalition gov't).

I'm studying economics abroad and hope to help out the gov't one day. So there is new generation of us cooking up in background and Pakistan can change in the next 20 years as these politicians die (Nawaz is 70~, Imran is 70~, zardari is 60 I think, Musharraf is 70. anyway, they're are all old except bilalwal but he's a bit immature).

Yaar Pakistan need to come out of this mess somehow, but truthfully it is looking very gloomy right now.
Yes i was also banking heavily on Imran but his Dharna style is economy killer for any country. His style of Politics either you are with us or if you are against us then you are corrupt.
And please no Bilawal, immature will be a understatement if he becomes PM he will surely take on India in another war.

 

[Orakzai]

First Rs. 58 is Delhi petrol price and other states are having different prices as they levi state sales tax accordingly. In India average price right now is Rs.62 per lit. for petrol. Now he was converting the Indian Rs. to Pakistani Rs. and quoting accordingly so it will around Rs.94 to Rs.96 as per Pakistani currency. So he was quoting correct figures. you need to see my previous quote to see what India is doing right now to contain its fiscal defisit front with oil prices down and according to @WishLivePak he wants Pakistan to follow same economic recovery path for Pakistan also, and in this India is not alone Bangladesh, Afghanistan , Srilanka all are doing the same thing for their economy. Instead of bashing others comment you need to read the previous post first.

firstly so you are telling me that your government has different departments in different states where they set the oil prices according to their wishes??? seriously?? are we not comparing the prices set by the Federal Government??
secondly that currency exchange games you guys are trying to play so if i am in australia should i be comparing oil prices in australia to prices in pakistan and complain to the australian government that how they ripping us off??
noooo you can't do that the higher your currency is the expensive things would be as compared to the countries with lower currencies. why do you thing USA is crying over to china for devaluing their currency?? coz they can make things cheaply this way. so that comparison is utterly rubbish.

 

[Indian Patriot]

So Imran Khan is the Arvind Kejriwal of Pakistan?

India needs to heavily invest in infrastructure, let go off subsidies and disinvest PSUs for better growth. Pakistan is a warning sign of what can happen to India if we don't take our finances seriously.

 

[Orakzai]

So Imran Khan is the Arvind Kejriwal of Pakistan?

India needs to heavily invest in infrastructure, let go off subsidies and disinvest PSUs for better growth. Pakistan is a warning sign of what can happen to India if we don't take our finances seriously.

Imran khan is no angel he makes blunders too but one thing we know about him is that financially he is not corrupt and is as clean as one leader could get. while leader like Nawaz sharif man where do i start from every time he becomes a pm his personal wealth increases tenfolds and there has even books written on how he transferred money through illegal ways from out of the country.
pakistan is not suffering from anything else but having a competent leader which we are lacking. that current pm of Pakistan do you know how many of his relatives are holding upper positions in ministries?? 29. he has awarded 29 ministries of punjab and federal government to his incompetent relatives who don't know shit about those ministries they are sitting on. that is the problem with our country.

 

[Jaanbaz]

How long will Pakistan keep looking for bail outs ?

For a very very long time........

 

[Nilesh Singh]

firstly so you are telling me that your government has different departments in different states where they set the oil prices according to their wishes??? seriously?? are we not comparing the prices set by the Federal Government??
secondly that currency exchange games you guys are trying to play so if i am in australia should i be comparing oil prices in australia to prices in pakistan and complain to the australian government that how they ripping us off??
noooo you can't do that the higher your currency is the expensive things would be as compared to the countries with lower currencies. why do you thing USA is crying over to china for devaluing their currency?? coz they can make things cheaply this way. so that comparison is utterly rubbish.

Yes in Indian states different prices are there for petrol and diesel, as i have said before different states are free to put sales tax accordingly (there is of course upper limit).
India met its 80% of its oil requirement through import and almost same percentage is for Pakistan also. You are comparing 2 third world developing country so u can't bring Australia in it. Do you know local gas prices in US is 3 $ per Bmtu but that same gas we take from Qatar in 15 $ Bmtu. Australia is big producer of oil and gas so it has control over its price, countries with large import do not have those luxuries. If you have studied economic you must know all the oil trade happen in US $ and not in local currency so you need to convert your local currency to $ to pay. So we comparing both the Indian petrol and Pakistan petrol prices in Pakistani currency.
China currency is devalued because it is export oriented country till now, but as its consumption will grow in years to come its import will increase accordingly so it will depend upon China what it wants. As its leverage of export will go in few years (because of labor cost, rise in standard of its people, etc) it will have no way other than to appreciate the currency according to market price. And China is not alone in this same method was applied by Japan in 1960's, South Korea in 1980's and Asean (especially Thailand, Singapore, Malaysia) in early 2000. All devalued their currency to grow its export but after some decade you need to go to market price to sustain the economy of your country. period.