Pakistan Current Account Records a Huge Surplus of $424 million in July 2020

[CrazyZ]

If you see our imports you will surprised . We import things like we are oil rich country .

Its a psychology issue. Any one with some money prefers foreign name brand products for many items that are produced locally. Its a status symbol.

 

[CrazyZ]

Oil and petroleum is in Mineral fuels category which is in 4 place of your list

Energy independence is very plausible for Pakistan with renewables, Shale oil/gas and Thar coal. Our past political leaders have preferred to invest in oil fired electric generation using imported oil when we have huge untapped hydro power potential?? Made no sense to me.

 

[Indos]

Energy independence is very plausible for Pakistan with renewables, Shale oil/gas and Thar coal. Our past political leaders have preferred to invest in oil fired electric generation using imported oil when we have huge untapped hydro power potential?? Maid no sense to me.

Yup you need to utilize your untapped hydro power potential.

What is the composition of your energy power source ? Gas is cheaper and cleaner though. I see recent power project in Pakistan is focused on coal power plant building.

 

[Longhorn]

Energy independence is very plausible for Pakistan with renewables, Shale oil/gas and Thar coal. Our past political leaders have preferred to invest in oil fired electric generation using imported oil when we have huge untapped hydro power potential?? Maid no sense to me.

Our elected thieves prefer to make deals abroad rather than utilise local manufacturing and resources because making deals with foreigners allows them to build commissions and kickbacks into the deals for themselves and their cronies.
They are more bothered about their personal financial gain rather than what is best for Pakistan and it's people.
I hope this helps.

 

[CrazyZ]

Yup you need to utilize your untapped hydro power potential.

What is the composition of your energy power source ? Gas is cheaper and cleaner though. I see recent power project in Pakistan is focused on coal power plant building.

NG is our main fossil fuel energy source. Coal and Hydro are definitely increasing. They are the cheapest energy sources for us. The increase in local coal power has reduced our oil imports for power generation this year (helping our current account). Plans are to increase solar massively in the future (Pakistan has the best solar resources in S. Asia). Shale plans have been put on hold since oil and gas prices are so cheap on the global market.

 

[Riz]

doesn't look like considering the pressure on rupee.

Current US$ rate is very attractive for exporters

 

[Yaseen1]

it is good indicator for temporary basis but our govt should focus on reducing inflation as bread price is rising everyday as well as other items of daily use if this trend continues food item price in Pakistan will become equivalent to food prices in u.s in future although earning of our public remain much less as compared to u.s minimum wage which will be bad for common people

 

[CrazyZ]

it is good indicator for temporary basis but our govt should focus on reducing inflation as bread price is rising everyday as well as other items of daily use if this trend continues food item price in Pakistan will become equivalent to food prices in u.s in future although earning of our public remain much less as compared to u.s minimum wage which will be bad for common people

Yes. Inflation is a big concern. We must increase agricultural output and address cartels in local markets. Some of this inflation is due to global factors that we can not control.

 

[Longhorn]

it is good indicator for temporary basis but our govt should focus on reducing inflation as bread price is rising everyday as well as other items of daily use if this trend continues food item price in Pakistan will become equivalent to food prices in u.s in future although earning of our public remain much less as compared to u.s minimum wage which will be bad for common people

Staple commodity prices rise inordinately usually because of hoarding and profiteering.
The government is taking steps to tackle this.

 

[Patriot forever]

it is good indicator for temporary basis but our govt should focus on reducing inflation as bread price is rising everyday as well as other items of daily use if this trend continues food item price in Pakistan will become equivalent to food prices in u.s in future although earning of our public remain much less as compared to u.s minimum wage which will be bad for common people

Bro I will ask you a simple question that will be a perfect answer for your post. How much does the farmer get of the cost you and I pay ? Less than 20-25%? This should tell you how organized the mills and middle men are and the money goes to whose pockets.
It is called artificial inflation to make the rich richer. The actual cost of produce hasn't changed much and neither our farmer is earning anything.

 

[Awan68]

NO!!!

Pakistan makes and locally produces just about any food item, FMCG's industry is huge in Pakistan the local and intl' chain as well.

Pakistan main imports are...

1. Machinery including computers: US$5 billion (13.3% of total imports)
2. Electrical machinery, equipment: $4.6 billion (12%)
3. Iron, steel: $2.3 billion (6.1%)
4. Mineral fuels including oil: $2.2 billion (5.9%)
5. Organic chemicals: $2 billion (5.2%)
6. Plastics, plastic articles: $1.8 billion (4.7%)
7. Cotton: $1.7 billion (4.4%)
8. Manmade filaments: $1.5 billion (3.9%)
9. Vehicles : $1.2 billion (3.1%)
10. Oil seeds: $1 billion (2.7%)

Oil and petroleum is missing in the list or not properly mentioned.

The top imports of Pakistan are Refined Petroleum ($5.76B), Crude Petroleum ($4.16B), Petroleum Gas ($3.28B), Palm Oil ($1.98B),

Why the friggin hell are we importing cotton and oil seeds etc must be taken care of locally.

 

[Longhorn]

Why the friggin hell are we importing cotton and oil seeds etc must be taken care of locally.

We are importing cotton because the the sugar mafia (mainly politicians) has been incentivising farmers to grow sugar cane instead of growing cotton. So we have a situation where we have lots of sugar which the mafia then hoards and profiteers from and we have not enough cotton so we have to spend precious dollars to import it from abroad.
This is how the economy has been distorted and manipulated for personal gain.

 

[Enigma SIG]

Bro I will ask you a simple question that will be a perfect answer for your post. How much does the farmer get of the cost you and I pay ? Less than 20-25%? This should tell you how organized the mills and middle men are and the money goes to whose pockets.
It is called artificial inflation to make the rich richer. The actual cost of produce hasn't changed much and neither our farmer is earning anything.

Cut out the middle-men and make farmers markets. I'd buy from a farmers market if there was one in Lahore.

 

[313ghazi]

This might sound a little daft, but does this mean we were actually spending $2billion per month more than we actually had budgeted for?!

 

[Path-Finder]

https://twitter.com/x/status/1297762617277272065

https://twitter.com/x/status/1297762618803916802

https://twitter.com/x/status/1297762620313939971

according to the peepee and tooi party we are doomed because it is gone above zero 0.

because if they were about then they would have kept it positively negative.