Pakistan became 25% poorer under PTI: PML-N

[Kingslayerr]

....

 

[Death Adder]

....

 

[Skywalker]

So add the remittances during PMLN too, GNP will increase by another 2%.

Where did you study your economics...university of Ishaq dollar...please give us break patwari sahab.

Fatman and his generals, dealers in government all became rich despite the fact country became 25% poorer. I have got no issues with that coz i am patriot.

I have no issues with these mard- mujahids being showered with luxury perks in addition to buttmans, drivers, khas saamas, maali/maalun, countless guards and nokar chaakars all being paid from tax payers money.

Bhaijaan, being a son of an ex army officer..we know how difficult it was to survive in that limited salary, if CSD had not been there for us then we would have struggled to afford even our daily groceries. BTW there is no batman any more up till major rank. Its easy for you lot to say anything who are most probably enjoying queens benefits.

 

[muhammadhafeezmalik]

Where did you study your economics...university of Ishaq dollar...please give us break patwari sahab.

Bhaijaan, being a son of an ex army officer..we know how difficult it was to survive in that limited salary, if CSD had not been there for us then we would have struggled to afford even our daily groceries. BTW there is no batman any more up till major rank. Its easy for you lot to say anything who are most probably enjoying queens benefits.

Every NCO and commissioned officer is allowed to have at-least 1 batman, they are paid for hiring a private batman now, before Gen. Kiyani solders were doing this duty.

 

[Skywalker]

Every NCO and commissioned officer is allowed to have at-least 1 batman, they are paid for hiring a private batman now, before Gen. Kiyani solders were doing this duty.

Not every one and let say they are being paid, then whats your beef with them.

 

[TheSnakeEatingMarkhur]

Pakistan became 25% poorer under PTI: PML-N
Party says country's ability to service its debt has further weakened

View attachment 750438

The PML-N on Thursday maintained that the country had become 25% poorer because of the “flawed” economic policies of the ruling PTI and its ability to service the debt had further weakened.

At a pre-budget seminar addressed by all those who were at the helm of economic affairs from 2013 to 2018, the PML-N also opposed levying of new taxes, increase in electricity prices and recommended lowering the power tariffs for farmers.
“Pakistan’s ability to service its debt has further weakened as its debt has increased to an all-time high of nearly nine times more than the tax collection,” said Miftah Ismail, PML-N’s last finance minister.

View attachment 750439
He added that during the PML-N’s time, the debt-to-tax ratio was at the lowest level of 6.5 times.
“This government has increased our debt burden more in its first three years than any government in its full term in history.”
The former finance minister claimed that in less than three years, the PTI government had added 54% to the national debt in comparison with what was added to it in 71 years.

View attachment 750440
“The PTI is adding Rs4.747 trillion debt per year and building nothing. Had the PML-N’s policies continued, the size of the national economy would have been $368 billion and the per capita income $1,775 at the end of the fiscal year 2020-21.”
Miftah said when the PML-N left in 2018, the size of the Pakistani economy was $313 billion.

“Pakistan is poorer today by 25% due to the economic policies of the PTI,” he added.
The former finance minister further claimed that after three years, Imran Khan had reduced the size of economy by $296 billion or by 5.5% even as the country's population had increased by 7.5%.
View attachment 750441
“There is a direct reduction in the income and purchasing power of Pakistanis by 13%. This is the first time in our history that our GDP in dollars has reduced even after three years.”

Miftah said despite the high demand and inflation in the past three years, the PTI’s tax collection has remained stagnant and has decreased in terms of percentage of GDP.
“The PTI has tripled inflation, increased food inflation more than five times than what it was during PML-N’s tenure, and substantially reduced economic growth,” Miftah claimed.
View attachment 750442
“After three years, even if we believe PTI’s controversial numbers, they have reduced real rupee GDP on a per capita basis.”
The tax-to GDP, which was 13% of the GDP when the PML-N government left with revenues doubling during its tenure, has now fallen to 10.9%. The taxation structure has also become more regressive as indicated by a higher share of indirect taxes.
“The fiscal deficits in the years under Imran Khan have been the highest ever in Pakistan’s history -- 9.1% and 8.1% -- and this year we will again unfortunately incur a budget deficit of over 8% of GDP,” Miftah said.
View attachment 750443
PML-N President Shehbaz Sharif claimed that the PTI government was misleading the public since the start of its tenure.
View attachment 750447
“Even the State Bank has contested the PTI’s growth rate of 3.9%,” the former Punjab chief minister added.
“The government's statistics have already become a subject of debate. This 'figure fudging' has come on top of the government's dismal performance and major failures.”
View attachment 750445
Dr Ayesha Pasha, former finance minister of Punjab, said the PTI government had claimed improvement in the economy and the sales of automobiles and motorcycles but the fact of the matter was that these indicators were still lower than what the PML-N had left behind.

“Tractors sales are down by 30.3% down, cars by 35% and motorcycles by 10% in fiscal year 2021 compared with 2018,” she added.

Former planning minister Ahsan Iqbal claimed that the country’s perception was damaged because of statements of Prime Minister Imran Khan.

“Foreign investors have stopped making investments. Pakistan’s core problem is political instability,” he added.
“The opportunity to attract Chinese investment in special economic zones has been lost.”
Former commerce minister Khurram Dastgir blamed the "mismanagement" of the PTI government for the increasing unemployment and poverty in the country.

“The cost of one kilogramme of sugar, one kilogramme of cooking oil, one kilogramme of moong pulse and one kilogramme of wheat flour was Rs347 in May 2018 that has now increased to Rs680 -- an increase of 96%,” he said.
“In three years, 20 million more people have slipped below poverty.”

Today the number of unemployed is around 8.5 million and the rate of unemployment is around 15%, which is the highest in the country's history, according to the PML-N paper.

Real wages for unskilled workers have fallen by 18% over the last three years. Federal and provincial public development spending in relation to GDP has also almost halved to 2.5% of the GDP only, further contributing to job contraction.

The main reasons for this incredible increase in prices, especially of food items, are the constant and large increases in the price of power and gas, the printing of money, and the largest budget deficits in Pakistan’s history, according to the PML-N.

PML-N Assistant General Secretary Bilal Kayani said the PTI had promised to end any addition to the power sector circular debt. "But despite raising power tariffs on an average of by over 60%, the circular debt today is both the highest in history and also rising at the fastest pace in history," he added.

He further noted that the circular debt would exceed Rs2.8 trillion, which is an increase of about 1.7 trillion in three years or almost Rs50 billion per month.

Miftah warned that after 40% devaluation, there would be only 1% increase in exports against what they were in the tenure of the PML-N -- that too in its third year.

Dr Ayesha Pasha said the government had not been able to finalise a deal with the IMF.

“A budget presented without the IMF agreement would lose its sanctity, increasing the chances of a mini-budget,” she added.
Former Privatisation Commission chairman Muhammad Zubair pointed out that the change of four finance ministers, five finance secretaries, five FBR chairmen, four chairmen of the Board of Investment, four economic affairs ministers and four industries ministers suggest that the prime minister was unsatisfied with the performance of his economic team.

Pakistan became 25% poorer under PTI: PML-N | The Express Tribune

Party says country's ability to service its debt has further weakened

tribune.com.pk

Funny things
1) Notice how they switch between Rupees and Dollars whenever it suits their narrative
2) Notice how there is no mention of CAD and exports and imports in their era vs in PTI era
3) Notice how they are putting debt servicing on PTI when they made the blunder of taking high interest debts

 

[TheSnakeEatingMarkhur]

1. How was the PMLN keeping the value of Rupee high?

PTI was criticising the PMLN government for keeping the dollar rate high when it was in the opposition but it is criticising the PMLN government for keeping the PKR rate high when it is in the government!! How they maintain the double standards.

جب ڈالر ایک روپیہ بڑھتا ہے تو ......... : عمران خان

2. What is the effect of higher imports than exports on our foreign exchange reserves?

PMLN was doing mass infrastructure overhaul so machinery imports were natural , PTI is importing more food items due to primarily sheer mismanagement and incompetence.

3. What effect on the rupee does these imports and their payments have?

Country was more competitive in term of energy requirements road infrastructure and peaceful environment.

4. How does that effect on the Rupee affect inflation, cost of raw materials (even for exports etc.), and on payments that have to be made to IPPs?

PMLN was paying less capacity charges because country was producing less electricity, as LESS as we have to do 18 hours of load-shedding. Now we are producing more electricity so we have to pay more capacity charges, but PMLN diversified the energy output methods from hydro, FO to deisle they shifted the energy mix towards hydro, coal, nuclear, LNG, wind, solar etc. The major beneficiary of capacity payments was government itself as most power plants were setup by government itself during PMLN last tenure. HUBCo and KAPCo were also government owned plants which were later privatised during Mushhraf rule.

1) Sawal Gandum Jawab Chana he asked how not what PTI was doing.. PMLN made a blunder by keeping artificially keeping dollar low.. that too from 6 billion dollars of loan money.. and when asked here you are giving excuses to divert the question..

2) Again sawal gandum jwab Chana.. he asked about effect not your exuces.. reserves go down in such cases.. as for your explanations.. isnt it the same mass infrastructure out of which majority is under utilized and didnt PMLN use local machinery why import permanently?

3) Competitive in energy requirements? By giving subsidies from loan money ?

4.1) Is it not true PMLN did short term enery projects which were expansive? I have heard statement from one member who himself said that when we met Mian g and told that coal projects will produce expansive energy he said Muje plant election se pehle chaiye agar mehngi bijli ban rehi he to woh agli dafa dekha jaye agar hum hue or na hue to agli govt jane (not exact words but on same lines)

4.2) Is it not true that PMLN govt made long term commitment to pay for capacity of IPP instead of what they produce

 

[TheSnakeEatingMarkhur]

Fatman and his generals, dealers in government all became rich despite the fact country became 25% poorer. I have got no issues with that coz i am patriot.

I have no issues with these mard- mujahids being showered with luxury perks in addition to buttmans, drivers, khas saamas, maali/maalun, countless guards and nokar chaakars all being paid from tax payers money.

Yet there is about 80% of budget for rest of institutions which cant perform not even 20% of what fatman and his institution does. Sad isnt it ?

 

[Smoke]

All I know is that PML-N were subsidizing the dollar which caused a shit storm in 2018. PTI came and showed the actual value of PKR, which unfortunately jumped to 160. We had no reserves, no main, so what were PML-N going to do when they came back in power in 2018..? Someone answer me that first.

From 2013 to 2018, every year they were posting that the economy is rising, growth has increased, but the streets said something else completely.. like WTF, has everyone forgotten that?

Those economic reports by Ishaq Dhar were completely FALSE.

Anyone forgotten the time when one day the US Dollar jumped to 143? When accidently the reality of the rupee surfaced for one day when Ishaq Dhar ran FUMING.. angry why this happened overnight.. yeah.. asshole forgot to subsidize that day.

 

[muhammadhafeezmalik]

All I know is that PML-N were subsidizing the dollar which caused a shit storm in 2018. PTI came and showed the actual value of PKR, which unfortunately jumped to 160. We had no reserves, no main, so what were PML-N going to do when they came back in power in 2018..? Someone answer me that first.

From 2013 to 2018, every year they were posting that the economy is rising, growth has increased, but the streets said something else completely.. like WTF, has everyone forgotten that?

Those economic reports by Ishaq Dhar were completely FALSE.

Anyone forgotten the time when one day the US Dollar jumped to 143? When accidently the reality of the rupee surfaced for one day when Ishaq Dhar ran FUMING.. angry why this happened overnight.. yeah.. asshole forgot to subsidize that day.

When was US Dollar jumped to 143 during Ishaq Dar?? Any source??

1) Sawal Gandum Jawab Chana he asked how not what PTI was doing.. PMLN made a blunder by keeping artificially keeping dollar low.. that too from 6 billion dollars of loan money.. and when asked here you are giving excuses to divert the question..

2) Again sawal gandum jwab Chana.. he asked about effect not your exuces.. reserves go down in such cases.. as for your explanations.. isnt it the same mass infrastructure out of which majority is under utilized and didnt PMLN use local machinery why import permanently?

3) Competitive in energy requirements? By giving subsidies from loan money ?

4.1) Is it not true PMLN did short term enery projects which were expansive? I have heard statement from one member who himself said that when we met Mian g and told that coal projects will produce expansive energy he said Muje plant election se pehle chaiye agar mehngi bijli ban rehi he to woh agli dafa dekha jaye agar hum hue or na hue to agli govt jane (not exact words but on same lines)

4.2) Is it not true that PMLN govt made long term commitment to pay for capacity of IPP instead of what they produce

The infrastructure was expand to cater the needs of 6+ growth, which every international rating agency was predicting in 2018, you did not maintain that momentum. So it is the fault of PMLN??

 

[Kingslayerr]

The infrastructure was expand to cater the needs of 6+ growth, which every international rating agency was predicting in 2018, you did not maintain that momentum. So it is the fault of PMLN??

Explain this future.

 

[muhammadhafeezmalik]

1) Sawal Gandum Jawab Chana he asked how not what PTI was doing.. PMLN made a blunder by keeping artificially keeping dollar low.. that too from 6 billion dollars of loan money.. and when asked here you are giving excuses to divert the question..

2) Again sawal gandum jwab Chana.. he asked about effect not your exuces.. reserves go down in such cases.. as for your explanations.. isnt it the same mass infrastructure out of which majority is under utilized and didnt PMLN use local machinery why import permanently?

3) Competitive in energy requirements? By giving subsidies from loan money ?

4.1) Is it not true PMLN did short term enery projects which were expansive? I have heard statement from one member who himself said that when we met Mian g and told that coal projects will produce expansive energy he said Muje plant election se pehle chaiye agar mehngi bijli ban rehi he to woh agli dafa dekha jaye agar hum hue or na hue to agli govt jane (not exact words but on same lines)

4.2) Is it not true that PMLN govt made long term commitment to pay for capacity of IPP instead of what they produce

4.1

4.2
As I have earlier stated that the power plants under the policy of 1994 and 2002 (which are being run on expensive fuel RFO and Deisle) will be retired this year or next year what will we do at that time?? Plus they were set up to cater the 6+ growth rate.

 

[Patriot forever]

4.1

View attachment 750499
4.2
As I have earlier stated that the power plants under the policy of 1994 and 2002 (which are being run on expensive fuel RFO and Deisle) will be retired this year or next year what will we do at that time?? Plus they were set up to cater the 6+ growth rate.

Local coal is expensive because of economy of scale. Are you seriously that dumb. If instead of setting up those imported coal projects had we preferred local ones our coal the cost will come down dramatically.

Besides even if by the given rates it is well worth the compromise if we shave off 2 billion dollars from our imports. How much will that help us in limiting CAD or trade balance. You sell oranges and towels to get coal which you already have in vast quantities. Instead of investing in resources to make them more viable you ran after commissions.

The problem with the IPP is return on investment. Had the economy doing well the simplest solution was just to float 2-3 billion dollars bonds on 7.5% instead of offering foreign companies 19-32% return on investment. We would have not only owned the plants but also saved the country from menace of capacity payments.

I think your purpose here is dissemination of propaganda rather than actual debate. How many times have you been corrected regarding the same issue. Shameful.

 

[Cookie Monster]

Pakistan became 25% poorer under PTI: PML-N
Party says country's ability to service its debt has further weakened

View attachment 750438

The PML-N on Thursday maintained that the country had become 25% poorer because of the “flawed” economic policies of the ruling PTI and its ability to service the debt had further weakened.

At a pre-budget seminar addressed by all those who were at the helm of economic affairs from 2013 to 2018, the PML-N also opposed levying of new taxes, increase in electricity prices and recommended lowering the power tariffs for farmers.
“Pakistan’s ability to service its debt has further weakened as its debt has increased to an all-time high of nearly nine times more than the tax collection,” said Miftah Ismail, PML-N’s last finance minister.

View attachment 750439
He added that during the PML-N’s time, the debt-to-tax ratio was at the lowest level of 6.5 times.
“This government has increased our debt burden more in its first three years than any government in its full term in history.”
The former finance minister claimed that in less than three years, the PTI government had added 54% to the national debt in comparison with what was added to it in 71 years.

View attachment 750440
“The PTI is adding Rs4.747 trillion debt per year and building nothing. Had the PML-N’s policies continued, the size of the national economy would have been $368 billion and the per capita income $1,775 at the end of the fiscal year 2020-21.”
Miftah said when the PML-N left in 2018, the size of the Pakistani economy was $313 billion.

“Pakistan is poorer today by 25% due to the economic policies of the PTI,” he added.
The former finance minister further claimed that after three years, Imran Khan had reduced the size of economy by $296 billion or by 5.5% even as the country's population had increased by 7.5%.
View attachment 750441
“There is a direct reduction in the income and purchasing power of Pakistanis by 13%. This is the first time in our history that our GDP in dollars has reduced even after three years.”

Miftah said despite the high demand and inflation in the past three years, the PTI’s tax collection has remained stagnant and has decreased in terms of percentage of GDP.
“The PTI has tripled inflation, increased food inflation more than five times than what it was during PML-N’s tenure, and substantially reduced economic growth,” Miftah claimed.
View attachment 750442
“After three years, even if we believe PTI’s controversial numbers, they have reduced real rupee GDP on a per capita basis.”
The tax-to GDP, which was 13% of the GDP when the PML-N government left with revenues doubling during its tenure, has now fallen to 10.9%. The taxation structure has also become more regressive as indicated by a higher share of indirect taxes.
“The fiscal deficits in the years under Imran Khan have been the highest ever in Pakistan’s history -- 9.1% and 8.1% -- and this year we will again unfortunately incur a budget deficit of over 8% of GDP,” Miftah said.
View attachment 750443
PML-N President Shehbaz Sharif claimed that the PTI government was misleading the public since the start of its tenure.
View attachment 750447
“Even the State Bank has contested the PTI’s growth rate of 3.9%,” the former Punjab chief minister added.
“The government's statistics have already become a subject of debate. This 'figure fudging' has come on top of the government's dismal performance and major failures.”
View attachment 750445
Dr Ayesha Pasha, former finance minister of Punjab, said the PTI government had claimed improvement in the economy and the sales of automobiles and motorcycles but the fact of the matter was that these indicators were still lower than what the PML-N had left behind.

“Tractors sales are down by 30.3% down, cars by 35% and motorcycles by 10% in fiscal year 2021 compared with 2018,” she added.

Former planning minister Ahsan Iqbal claimed that the country’s perception was damaged because of statements of Prime Minister Imran Khan.

“Foreign investors have stopped making investments. Pakistan’s core problem is political instability,” he added.
“The opportunity to attract Chinese investment in special economic zones has been lost.”
Former commerce minister Khurram Dastgir blamed the "mismanagement" of the PTI government for the increasing unemployment and poverty in the country.

“The cost of one kilogramme of sugar, one kilogramme of cooking oil, one kilogramme of moong pulse and one kilogramme of wheat flour was Rs347 in May 2018 that has now increased to Rs680 -- an increase of 96%,” he said.
“In three years, 20 million more people have slipped below poverty.”

Today the number of unemployed is around 8.5 million and the rate of unemployment is around 15%, which is the highest in the country's history, according to the PML-N paper.

Real wages for unskilled workers have fallen by 18% over the last three years. Federal and provincial public development spending in relation to GDP has also almost halved to 2.5% of the GDP only, further contributing to job contraction.

The main reasons for this incredible increase in prices, especially of food items, are the constant and large increases in the price of power and gas, the printing of money, and the largest budget deficits in Pakistan’s history, according to the PML-N.

PML-N Assistant General Secretary Bilal Kayani said the PTI had promised to end any addition to the power sector circular debt. "But despite raising power tariffs on an average of by over 60%, the circular debt today is both the highest in history and also rising at the fastest pace in history," he added.

He further noted that the circular debt would exceed Rs2.8 trillion, which is an increase of about 1.7 trillion in three years or almost Rs50 billion per month.

Miftah warned that after 40% devaluation, there would be only 1% increase in exports against what they were in the tenure of the PML-N -- that too in its third year.

Dr Ayesha Pasha said the government had not been able to finalise a deal with the IMF.

“A budget presented without the IMF agreement would lose its sanctity, increasing the chances of a mini-budget,” she added.
Former Privatisation Commission chairman Muhammad Zubair pointed out that the change of four finance ministers, five finance secretaries, five FBR chairmen, four chairmen of the Board of Investment, four economic affairs ministers and four industries ministers suggest that the prime minister was unsatisfied with the performance of his economic team.

Pakistan became 25% poorer under PTI: PML-N | The Express Tribune

Party says country's ability to service its debt has further weakened

tribune.com.pk

I've seen many of economy related threads u opened where u criticize PTI's performance while praising PML-N. At least for those u used some other sources...
...but this time u have sunk to a new low...using an article so biased that it is actually based on PML-N stooges themselves.

With citizens like u...Pakistan doesn't need enemies. U modern day Mir Jafars are enough to destroy Pakistan. Have some shame...are u seriously putting a political party above the country's well being? For what? Some financial gain? Did they "sifarish" u or ur family into a job? Did they give u some cushy government position? No amount is big enough to put the country's well being at stake. Sure PTI has its faults...they could do better...but to say PML-N was the best...surely that has got to be a joke? How long have they been in power(back and forth)? Certainly they have had enough years in power to show us their miracles...
...when did Pakistan become the next up and coming miracle like Singapore, China, South Korea? Never...
...Pakistan was as broke as ever under the masterful guidance of PML-N all these years. So this constant praise despite their record(over and over) only means that u stand to gain some personal benefit from PML-N. It's just pitiful to see ppl loyal to some party or "leader" rather than the country.

 

[muhammadhafeezmalik]

I've seen many of economy related threads u opened where u criticize PTI's performance while praising PML-N. At least for those u used some other sources...
...but this time u have sunk to a new low...using an article so biased that it is actually based on PML-N stooges themselves.

With citizens like u...Pakistan doesn't need enemies. U modern day Mir Jafars are enough to destroy Pakistan. Have some shame...are u seriously putting a political party above the country's well being? For what? Some financial gain? Did they "sifarish" u or ur family into a job? Did they give u some cushy government position? No amount is big enough to put the country's well being at stake. Sure PTI has its faults...they could do better...but to say PML-N was the best...surely that has got to be a joke? How long have they been in power(back and forth)? Certainly they have had enough years in power to show us their miracles...
...when did Pakistan become the next up and coming miracle like Singapore, China, South Korea? Never...Pakistan was as broke as ever under the masterful guidance of PML-N all these years. So this constant praise despite their record(over and over) only means that u stand to gain some personal benefit from PML-N. It's just pitiful to see ppl loyal to some party or "leader" rather than the country.

This was clearly mentioned in the headline. Every thing stated in the article can be verified with government record. Here is an other: