ok so $90 billion in debt you would like IK to pay that off when pakistan went almost bankrupt in 2018? how can you expect this is beyond understanding.
I didn't say anything like that, my brother. If Urdu is your preferred language, I will gladly respond in Urdu. Please don't misunderstand me or try to manipulate my words.
Pakistan was never on the edge of bankruptcy; in fact, our debt-to-GDP ratio is at an all-time high, considerably greater than in 2018, so it is more accurate to state that we are now on the verge of bankruptcy, though I strongly believe that nations do not go bankrupt in the first place.
2nd you are saying debt increase to $115 billion yet pti paid back loan taken by pmln round $10 billion.
ISLAMABAD: Federal Minister for Industries and Production Hammad Azhar on Saturday stressed that the PTI government paid $10.4 billion on account of debt servicing of external public loans including...
www.thenews.com.pk
The same thing was said by PML-N when they came into power and claimed that they were returning loans to IMF that was taken during the tenure of PPP
third, first time fbr are going to achive our tax target which never had happened before.
It was the second consecutive month when collection exceeded target despite Covid-19 impact on economy.
www.dawn.com
Good for FBR, but the point is that if FBR sets unreasonable growth expectations of 30-40% each year, it is almost certain that they would not be met. However, I recall Asad Umar saying when he was appointed Finance Minister that FBR will be given realistic targets. Maintaining a growth rate is more vital than meeting a target, and the FBR has boosted their taxation from 1200 billion to roughly 4000 billion in the last 10-12 years.
fourth can you explain me how we have such huge gaps in import as compare to export in pmln and how you can think any govt to overcome such situation when your foreign reserve kept in negative everyweek around $200 million.
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So, this is the first time you've asked me a question rather than arguing with me, so please forgive me if I end up writing a lengthy response. Before I respond to your request, I'd like to rewind your memories to 2012, when Pakistan produced roughly 12,000MW of energy, the majority of which was generated by antiquated and inefficient power plants fueled by expensive furnace oil, crude oil, and gas. Some of these power plants were producing electricity for 30 cents per unit, compared to the PML-N's terrible deals, which they eventually struck for 9-13 cents per unit starting in 2013. The point is that import bills in Pakistan have two primary components. That is import of
energy (oil and gas) and
heavy machinery (tools, plants, machinery, and so on).
We import so much oil that, out of around $45 billion in imports, crude oil alone accounts for around $15 billion. Despite the fact that, unlike past governments, PTI was fortunate in that... crude oil prices plummeted so low during the pandemic that they dipped below 0 dollars at one point.
So, if you could buy oil for a lower price, your import bill was going to fall. I'll reveal you a secret to slashing your import bill in half overnight. If you don't build anything in Pakistan, your imports will plummet by billions of dollars overnight. The problem with the PML-N is that they commit corruption while completing a large number of projects. The problem with the PTI is that they are scared to take risks, and I am not aware of many projects now underway in Pakistan. The difficulty with the PML-N is that they were building industrial parks, power plants, reviving the textile industry, and bringing car manufacturers back to Pakistan, so your imports had to climb. Given the size of Pakistan's economy and population, our realistic import and exports should be greater than $200 billion. However, because we are unable to boost our exports, we have rules in Pakistan that prevent importers from bringing in additional items from other nations. It's like our Governments have failed to increase exports so they are making sure our imports don't increase as well.
i never said you are pmln supporter but you are saying it was just fine for you when we already had $90 billion of debt but not fine with pti?
Please don't associate anything with me that I haven't said here because I didn't say anything like that. All I meant was that the figures in your post were inaccurate, and that PML-N was taking 10 billion dollars in loans every year compared to PTI's 3 billion dollars is not true.
From what I recall from my memory, Pakistan had an external debt of about
32 Billion USD in 1999
35 billion by 2007
42 by 2008
65 by 2013
90 by 2018
115 by 2021
So it is not incorrect to say that PPP took foreign loans of 23 billion dollars in five years (not adding internal debt, which is also very large) versus 25 billion dollars during PML-N's tenure and PTI has already taken equivalent debt in the last three years. PML-N, like PTI, has claimed that they are accepting loans to pay off past obligations, but this is just a partial truth; the reality is much different.
