Pakistan may be next in line for an IMF bailout

[funtoosh]

what will pak do if IMF asks to scrap nuclear program because of high cost?

 

[Jazzbot]

More loans, bailouts etc, more indirect taxes on general public to return amounts in coming years, more inflation, more joblessness and more increase in crimes. Where are the reforms, improved Tax to GDP ratio and all other stuff N-League claimed? Fuking beggars..

 

[Chak Bamu]

More loans, bailouts etc, more indirect taxes on general public to return amounts in coming years, more inflation, more joblessness and more increase in crimes. Where are the reforms, improved Tax to GDP ratio and all other stuff N-League claimed? Fuking beggars..

Let us assume that IK was in power in Central government. Would any of your pronouncements change? Would that change any of the ground realities as of now?

Aside from the above, we desperately need to change our policies, reorganize our economy and improve governance in general. As long as our need for restructuring falls in line with IMF dictates, we should not have a problem. We necessarily have to go through a painful adjustment process and IMF or no IMF, we can not avoid it.

 

[Jazzbot]

Let us assume that IK was in power in Central government. Would any of your pronouncements change? Would that change any of the ground realities as of now?

Aside from the above, we desperately need to change our policies, reorganize our economy and improve governance in general. As long as our need for restructuring falls in line with IMF dictates, we should not have a problem. We necessarily have to go through a painful adjustment process and IMF or no IMF, we can not avoid it.

Lets not talk about IK as he's not in power in center, and instead concentrate on what NS is going to do. NS is tried and tested as PM and same is with his team. We desperately need reforms to solve these issues. We have several billions worth circular debt in electricity today. Even if we clear this circular debt today by taking loans then the problem will still be there. Because in about 6 - 7 weeks time, same amount of circular debt will arise again and this will keep happening until we fix the issues that are creating this circular debt.

Electricity theft, line losses, failure in collection of bills from major industries etc are main reasons of this circular debt and you don't need any bailouts to solve these things. The structure is there, you need to reform it and appoint honest people. Above all, you need to start from yourself and set an example. What should we expect from NS when Ittefaq Industry is still default of LESCO electricity bills and they haven't paid any bills since past 103 months. Rohail Asghar (PML-N MNA from Lahore) is a well known Gas thief and he's defaulter of millions as he never paid bills of his mills. I can give you one hundred such examples. Do you think these people are going to collect electricity bills from everyone in this country?

What credibility NS has as a reformer? What land, agricultural, management, power reforms he did in his past 2 terms? NS is going to take this bailout, and half the money will disappear due to corruption, bad management, incompetence etc and the problem will be there. Same happened in past, and same will happen this time.

 

[Chak Bamu]

Lets not talk about IK as he's not in power in center, and instead concentrate on what NS is going to do. NS is tried and tested as PM and same is with his team. We desperately need reforms to solve these issues. We have several billions worth circular debt in electricity today. Even if we clear this circular debt today by taking loans then the problem will still be there. Because in about 6 - 7 weeks time, same amount of circular debt will arise again and this will keep happening until we fix the issues that are creating this circular debt.

Electricity theft, line losses, failure in collection of bills from major industries etc are main reasons of this circular debt and you don't need any bailouts to solve these things. The structure is there, you need to reform it and appoint honest people. Above all, you need to start from yourself and set an example. What should we expect from NS when Ittefaq Industry is still default of LESCO electricity bills and they haven't paid any bills since past 103 months. Rohail Asghar (PML-N MNA from Lahore) is a well known Gas thief and he's defaulter of millions as he never paid bills of his mills. I can give you one hundred such examples. Do you think these people are going to collect electricity bills from everyone in this country?

What credibility NS has as a reformer? What land, agricultural, management, power reforms he did in his past 2 terms? NS is going to take this bailout, and half the money will disappear due to corruption, bad management, incompetence etc and the problem will be there. Same happened in past, and same will happen this time.

Time will tell my friend.

NS started deregulation in South Asia. That is an accomplishment that Indian policy makers would readily admit.

I can not tell whether your motivation for posting the above has any link with your support for IK. Just be sure to point out wrong doings by his cronies in due time. Meanwhile let us hope for the best.

Keep me posted about Rohail Asghar and Ittefaq Industries (which one BTW?). I am very much interested in these stories. Thanks in advance.

 

[Spring Onion]

we knew already. Nawaz Sharif is fond of IMF.

more costly electricity indeed in coming days

 

[Saleem]

we knew already. Nawaz Sharif is fond of IMF.

more costly electricity indeed in coming days

slaves should know their place.......

 

[arp2041]

we knew already. Nawaz Sharif is fond of IMF.

more costly electricity indeed in coming days

Just Curious, From where u want the govt. to draw the money?? & do you think if Pakistan takes money from KSA or All weather friends or Big Satan or whichever country, they won't attach any condition to it??

OR, you are suggesting to go for a DEFAULT??

 

[Jazzbot]

Time will tell my friend.

NS started deregulation in South Asia. That is an accomplishment that Indian policy makers would readily admit.

I can not tell whether your motivation for posting the above has any link with your support for IK. Just be sure to point out wrong doings by his cronies in due time. Meanwhile let us hope for the best.

Keep me posted about Rohail Asghar and Ittefaq Industries (which one BTW?). I am very much interested in these stories. Thanks in advance.

Mate, every Pakistani who loves his country is hoping for best and is praying that Allah may put fear in our leader's and make them do good deeds for this country. But its their past record which is stopping us from believing that they will do any good this time.

Secondly, my support for IK is not bigger than my support for Pakistan, I have criticized IK's policies at this very forum several times, heck even my signature is against IK's political ideology I'm IK's supporter but I'm not his blind supporter.

Finally, about Ittefaq Foundary, please visit: LESCO - News & Media and see Serial # 12 for details. Regarding Rohail Asghar, I'm native from his constituency and I know him personally, everyone knows about him in his constituency but sad thing is, he's yet again elected as MNA from there... These news were recently published in some newspapers, I could just find one online link to prove my claim.

Ittefaq Foundaries LESCO Defaulter: LESCO - News & Media

Rohail Asghar (PML-N) Gas Theft: Daily Express News Story

 

[Spring Onion]

Just Curious, From where u want the govt. to draw the money?? & do you think if Pakistan takes money from KSA or All weather friends or Big Satan or whichever country, they won't attach any condition to it??

OR, you are suggesting to go for a DEFAULT??

If they can mint unjustified TAXES from poor consumers of electricity at the behest of IMF then why cant they draw taxes from those who should pay.

IMF is going to force the govt to further raise cost of electricity per unit and common public will suffer. we should widen tax net

 

[Jungibaaz]

In any normal situation in a normal country, people would accept IMF bailout... it is necessary.

However, my fear is that this IMF bail out might be used as a temporary fix and no real long term solution is made.
And as ever a few years down the line when repayments are due, we will find ourselves broke and another few years wasted.

NS better make the necessary fiscal reforms, IMF bailout alone wont solve a damn thing, it will only postpone the real issues and make them a greater problem in the future.