Pakistan current account deficit to shrink at fast pace from July onwards

[Turingsage]

The country’s current account deficit (CAD) contracted by 27 per cent to $11.586 billion during the first 10 months of the current fiscal year compared to $15.864bn during the same period last fiscal year, according to latest data released by the State Bank of Pakistan.

When you crash the economy to a shuddering stop CAD obviously goes down. This is not some grand result of a planned reform but a consequence of a crash

If China give Pakistan 25 billon, we can avoid IMF and IK with the right advisors can turn the economy around in 5 years.

75% of loans are taken from China. How much more do you want ?? These are loans whose interest rates cannot be disclosed because China will not allow it

China leads with 75% share in total foreign loans
By Shahbaz Rana
Published: May 23, 2019
TWEET EMAIL

Prime Minister Imran Khan to attend Belt and Road Forum in Beijing PHOTO: FILE

https://tribune.com.pk/story/1978533/2-pakistan-discloses-borrowing-china/

 

[zeplin_100]

Nationalization worked great in saudi arabia, Egypt and Iran
But bhutto forgot the difference between a resource and an industry ..a democracy and dictatorship

The countries that you mentioned, had rulers who ruled for several years at a stretch. Bhutto hardly got net five years of rule, if he had served for another term, certainly Pakistan would have been a progressive and developed country much better than the country you cited.
The leaders that followed ZAB, knew the difference between resource and industry very well, this is why today Pakistan is buried in a heap of debt.

 

[jupiter2007]

When you crash the economy to a shuddering stop CAD obviously goes down. This is not some grand result of a planned reform but a consequence of a crash



75% of loans are taken from China. How much more do you want ?? These are loans whose interest rates cannot be disclosed because China will not allow it

China leads with 75% share in total foreign loans
By Shahbaz Rana
Published: May 23, 2019
TWEET EMAIL

Prime Minister Imran Khan to attend Belt and Road Forum in Beijing PHOTO: FILE

https://tribune.com.pk/story/1978533/2-pakistan-discloses-borrowing-china/

Even though China need Pakistan for their BRI, they have shrewd business mindset. They don’t give anything for free.
We haven’t even started making any real money from CPEC. Like Musharraf said in one of his Interview, majority of benefits of CPEC will go to China and Pakistan will end up with massive debt.

When you crash the economy to a shuddering stop CAD obviously goes down. This is not some grand result of a planned reform but a consequence of a crash



75% of loans are taken from China. How much more do you want ?? These are loans whose interest rates cannot be disclosed because China will not allow it

China leads with 75% share in total foreign loans
By Shahbaz Rana
Published: May 23, 2019
TWEET EMAIL

Prime Minister Imran Khan to attend Belt and Road Forum in Beijing PHOTO: FILE

https://tribune.com.pk/story/1978533/2-pakistan-discloses-borrowing-china/

I was hoping China can give us the money and write off some previous loans.

 

[Crusher]

The leaders that followed ZAB, knew the difference between resource and industry very well, this is why today Pakistan is buried in a heap of debt.

Yes according to many posters here everything wrong with the economy of pakistan is due to Bhutto short lived industrial nationalization of 70s, but we have got genius rabid no-regulation crony capitalist democrats after the demise of Bhutto nationalization since 80s onward and the result is in front of us. These genius crony capitalist democrats of last 3 decades have developed only one thing for pakistan and that is ever piling up foreign debt and for its payment they are knocking at the doors of IMF, GCC countries, china, world bank etc like beggars after every couple of years and pakistan has turned into an economic superpower after annulling nationalization of ZA Bhutto. These naive people think that just by having private crony capitalism pakistan will automatically turn into an economic superpower on its own. I am not supporting Bhutto's industrial nationalization of 70s, I am just alluding to the naive mindset of many pakistanis with regards to how economies work.

 

[Type59]

When you crash the economy to a shuddering stop CAD obviously goes down. This is not some grand result of a planned reform but a consequence of a crash



75% of loans are taken from China. How much more do you want ?? These are loans whose interest rates cannot be disclosed because China will not allow it

China leads with 75% share in total foreign loans
By Shahbaz Rana
Published: May 23, 2019
TWEET EMAIL

Prime Minister Imran Khan to attend Belt and Road Forum in Beijing PHOTO: FILE

https://tribune.com.pk/story/1978533/2-pakistan-discloses-borrowing-china/

Seems planned if let currency to devalue, increasing tariffs and encouraging remittance through official channels.

 

[ziaulislam]

$hit has hit the threshold. IK is the last chance of democracy. If he fails, the whole system will be replaced with something else. Opposition must realize that they are not above riyasat.
Plans are ready in pindi, waiting for the right moment. I hope that doesn’t come that.

If China give Pakistan 25 billon, we can avoid IMF and IK with the right advisors can turn the economy around in 5 years.

The countries that you mentioned, had rulers who ruled for several years at a stretch. Bhutto hardly got net five years of rule, if he had served for another term, certainly Pakistan would have been a progressive and developed country much better than the country you cited.
The leaders that followed ZAB, knew the difference between resource and industry very well, this is why today Pakistan is buried in a heap of debt.

The industry was done and dusted and bhutto had already started to return them..so you mean he hinself was wrong

Secondly which country has nationalization worked in soveit russia cuba or old china

 

[Imad.Khan]

Show your flags first... come on don't hide your country

He is an altafian, their flag is not on PDF

 

[zulu]

Woh sunan??naaah woh tu pakka patwarii haii hammad aur dosry hain altafian sana and his gang patwarian

He is an altafian, their flag is not on PDF

 

[Dil Pakistan]

Come out of your lala land Mr.Dont give false hopes.Pak GDP growth is projected at 2.8 % in 5 years.What a shame

You need to listen to FBR's new Chairman - Shabbar Zaidi's - recent interview.

He gave a perfect answer.

This 2.8% is the accounted economy growth. The unaccounted GDP is far more.
FBR's efforts are to bring the unaccounted into the books.
This will result in an automatic rise in GDP.

 

[ziaulislam]

You need to listen to FBR's new Chairman - Shabbar Zaidi's - recent interview.

He gave a perfect answer.

This 2.8% is the accounted economy growth. The unaccounted GDP is far more.
FBR's efforts are to bring the unaccounted into the books.
This will result in an automatic rise in GDP.

Key is to make all transactions traceable
Pakistan doesnt need more taxes, it simply needs more cashless economy ..it needs a payment system, current visa/master are too expensive (3% value goes to the banks)

It needs learn from china

It also needs to enforce taxation on property movement and ensure up-to-date properties

 

[Samlee]

Key is to make all transactions traceable
Pakistan doesnt need more taxes, it simply needs more cashless economy ..it needs a payment system, current visa/master are too expensive (3% value goes to the banks)

It needs learn from china

It also needs to enforce taxation on property movement and ensure up-to-date properties

Steps Need To Be Taken To Promote Fintech Heck IK Should Take A Page From Modi's Playbook And Ban Rs 5000 Notes.This Is Definitely Going To Make Life For Corrupt and Tax Evaders Difficult

When you crash the economy to a shuddering stop CAD obviously goes down. This is not some grand result of a planned reform but a consequence of a crash

No Letting The Rupee Float To It's Real Value Vis A Vis Dollar Is Very Much A Reform.The Previous Government's Finance Minister Effectively Subsidized Imports By Pegging The Dollar.


Secondly The Package Introduced By Asad Umar During His First Mini Budget Will Start Showing It's Effects After July

 

[The Accountant]

Nothing to celebrate as this CAD is also on the back of loan ... although it is good for the sake that we delayed the crisis but you have not solved it .... real solution will come from increase in export and actual reduction in import specially for the consumeable items ...

There is no other way around to incrwease local production ... facilitate local investor ... manufacturing is key ...

We have to invest in research and development of targeted sectors to increase productivity and export

 

[Crusher]

Steps Need To Be Taken To Promote Fintech Heck IK Should Take A Page From Modi's Playbook And Ban Rs 5000 Notes.This Is Definitely Going To Make Life For Corrupt and Tax Evaders Difficult

I have suggested the ban on Rs. 5000 bills/notes a month ago when we were discussing about IMF package but I never hear anyone talking about this elephant in the room Rs. 5000 notes in the mainstream media. The biggest ill that was committed by Shortcut Aziz during his tenure was the introduction of Rs. 5000 notes to please the corrupt elements of then PMLQ to hoard big amounts of ill gotten money in their locker rooms. I still cannot understand why pakistan needs a Rs. 5000 note, the only reason that comes to my mind is facilitating the corrupt cronies huge amounts of wealth in rupee denomination in their private coffers and locker rooms.

 

[nahtanbob]

The mistake Pakistan had committed, was reversal of Z.A. Bhutto's indigenous economic and industrial policies. All the indigenous hard work done during ZAB's era was made ZERO by Zia-ul-Haq's government.

you are first Pakistani supporter of economic nationalization policies of the 1970s

 

[zeplin_100]

you are first Pakistani supporter of economic nationalization policies of the 1970s

May be I am the only one. Please correct yourself, I partially support the nationalization undertaken by ZAB. But the fact is ZAB never got the credit for following indigenous policies, because our, military, industrialist and elite do not believe in such policies. I bet if had not started the Nuclear Program, none had the strength, courage and wisdom to start it. Three programs Pakistan steel Mill, Heavy Mechanical Complex and Heavy Electrical Complex which were established by his govt, look where they stand today. These three institutions if had run with R&D could have modernize the steel, metal and power technology of Pakistan on indigenous basis.