Pakistan's Economy - News and Updates

[PakistaniAtBahrain]

Entire Pmln, PPP etc is about playing with people's emotions: Generals murdered Bhutto, Benazir, Generals destroyed economy by kicking out Saint Nawaz Sharif etc etc. There is hardly any evidence or facts behind these pathetic claims but they are sold to emotional illiterate masses.

yeah, but things are changing. social media, alternative media/analysis outlets, and more internet access is creating a more educated, young middle class of voters. no more listening to hamid mir and his ilk. many young people that are going to reach voting age and were too young to care about bhutto and sharif dynasty politics, they want to see development and facts. this is a big chunk of the PTI voter base, and this base is only going to keep growing because our population is young and growing, and not interested in ethnicity politics, nor being slaves of bhuttos, zardaris and sharifs.

 

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Misrepresentation Of The Previous Government, Pakistan Narrowly Escaped IMF Fines
By Web Desk On March 25, 2021 1

Pakistan has escaped fines from the International Monetary Fund (IMF) after the revelation of inaccurate data on loans during the previous PML-N government.

According to the report of the news agency, the value of the guarantee given by the government in return for the loans for the financial year 2015-16 was shown to be Rs 357 billion less.

https://twitter.com/x/status/1375058806137352195

The current government went to the IMF in 2019 and submitted the data given by the previous government which was not correct but the IMF approved it.
But this revelation was later made by the Pakistani government itself and it was corrected that the guarantees given in loans and arrears have been shown to be Rs 357 billion more.
The IMF did not impose any penalty on the Pakistani correction, in case of non-identification, the IMF could have suspended the loan program along with the fine.

 

[farok84]

Pakistan gets promising response to LNG tender | The Express Tribune

PLL receives bids in range of $6.7 to $6.925 per mmbtu for eight cargoes

tribune.com.pk

Pakistan gets promising response to LNG tender
PLL receives bids in range of $6.7 to $6.925 per mmbtu for eight cargoes


Our Correspondent April 01, 2021

ISLAMABAD:
With the fall in global demand for liquefied natural gas (LNG), Pakistan has received an encouraging response to a tender seeking eight LNG cargoes from April to June 2021.

Earlier this year, the LNG price had jumped to the highest level and even suppliers refused to deliver the committed volumes. However, a new wave of the Covid-19 pandemic has now hit the entire world and restrictions have pushed LNG demand down. This has resulted in a good response from the suppliers.
Pakistan LNG Limited (PLL) received bids in the range of $6.7 to $6.925 per mmbtu for eight LNG cargoes to meet the growing gas demand in the April-June period.

Owing to the increase in demand for electricity in the summer season, the power sector will be a major consumer of LNG.

More than a dozen suppliers submitted bids in response to the LNG tender for eight spot cargoes for delivery between April and June. PLL had made some changes to the bidding process as it called for submitting bids based on fixed dollar rates instead of the previous practice of linking with the Brent price. PLL received a total of 42 bids for the spot LNG cargoes.

Eni has offered to deliver one shipment on April 30, another on May 26-27 and another on June 18, 2021 at a rate of $6.7 per mmbtu.

QP Trading has offered to deliver two LNG cargoes at the rate of $6.825 per mmbtu on May 11-12 and another at the rate of $6.925 per mmbtu on May 16-17, 2021.

Votal Bahrain LNG will deliver cargo on May 31, 2021 at a rate of $6.7832 per mmbtu.
Published in The Express Tribune, April 1st, 2021.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

https://twitter.com/x/status/1377267183068147720

 

[Sulman Badshah]

Economic Indicators this Fiscal years

 

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COAS Qamar Bajwa Tells** How Ishaq Dar Destroyed Pakistan's Economy

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Here is Javed Chaudry article

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Mian Nawaz Sharif went to London for treatment on November 19, 2019. There is an impression in the country even today that he went out through a deal and this deal was done by the establishment without the consent of the government. This impression was given to senior journalists on Friday night, April 23. Was deleted in front of We were told that Mian Nawaz Sharif was not sent out by the army, this decision was purely of the judiciary and the government but it is true that the Prime Minister had sought the opinion of Army Chief General Qamar Javed Bajwa and he had told him, you have two There are options. You let Mian Nawaz Sharif go for treatment and be heard badly by the people or if God willing something happens to him in jail then bear another Bhutto but the decision is up to you anyway and this decision was made by the Prime Minister, Cabinet I was in favor of deporting all the ministers except three ministers, all these were saying, let them go, save their lives, it was also told that the military leadership requested the former Chief Justice of Pakistan after his swearing in ceremony. Was The Supreme Court should find a legal way for the people detained by the security agencies, even the police are not ready to accept them and there is no civil administration in the tribal areas, we do not understand what to do, the Chief Justice replied. We also don't have any legal scope. If you bring them here, there will be a new legal crisis. You decide for yourself so that the security agencies can keep them and look at the judiciary and the government. have been. It was also reported that former finance minister Ishaq Dar had forged government statistics. The former government continued to show 5.8% growth by borrowing from banks, when Ishaq Dar was asked about Metros in a meeting. How will the government cover these debts and deficits? ”So he shook his face from left to right and said,“ Some decisions are political. ”Under the previous government, Vespa wanted to set up a scooter factory in Pakistan, but the finance ministry commissioned the company. Asked NATO envoy to Afghanistan Stefano Pontecorvo alleged that the money was demanded by the finance minister. The information was given to Prime Minister Nawaz Sharif but he did not take it seriously. It was also said that Indian leaders during the talks. Requested from Pakistani officers, get rid of our Clubbhushan Yadav, this is a burden for us, if you remove this burden it will be your favor but the death of Clubbhushan Yadav does not suit Pakistan so he is alive and It will live MNA Mohsin Dawar was told, he was an Army Public School student and he got angry with the state because of a base, he is not fighting an ideological battle, he is fighting a battle for possession of the base, Ayaz Sadiq Had made a statement on October 29, 2020 that his legs were shaking, the military circles felt very bad about it, the army had shot down three Indian planes, if our legs were shaking we would never have done it but Pakistan did it with full courage. When we released the Indian pilot Nandan, India thanked Pakistan through a friendly country but Ayaz Sadiq broke both the morale and heart of the army by making this statement. Army Chief General Qamar Javed Bajwa is alive. The first time there was intense anger but they drank their anger, there was talk about Tehreek-e-Lubaik Pakistan, it was made by Mian Nawaz Sharif to break the power of Allama Tahir-ul-Qadri, TLP called a sit-in in Faizabad in November 2017 He came to Islamabad at the behest of Punjab Law Minister Rana Sanaullah. The TLP was initially demanding the resignation of the government, but then it came to the resignation of the entire cabinet. Prime Minister Shahid Khaqan Abbasi told the army, "You deal with them, the police are not getting their hands on them." He told PTI that he had demoralized the police by leaving the Punjab police alone on the issue of Model Town, so it is no longer obeying the orders of the government. The Prime Minister was advised not to resign the ministers because once this tradition If it falls, then it cannot be stopped. The Establishment had to deal with this issue because the Prime Minister and the Army Chief had to visit Saudi Arabia for military exercises and this issue had to be resolved before this visit, otherwise the country would be ridiculed as with the TLP. A written agreement had to be reached. Shahid Khaqan Abbasi wanted to visit his sister in the United States. The former prime minister contacted the country's top intelligence agency to get his name removed from the ECL and the establishment allowed him to travel to the United States. However, they did not want to appeal to the government. The government voluntarily appointed and fired the three finance ministers, the establishment did not comment, 35 of the 46 judges of the Lahore High Court were recruited under Nawaz Sharif, so government members and the opposition are therefore biased towards the judiciary. Accuses These allegations should not be leveled at the judiciary, Pakistan's security agencies found out that important documents of the Prime Minister's Office and the Foreign Ministry are being leaked, the security agencies investigated, it turned out to be true, the system of the Prime Minister's Office and the Foreign Ministry was "hacked". We were going out of the country till the minutes of the meetings. It was also found out that our information was also going to India. The security agencies fixed this system and it has now become "fool proof". Talking about the economic and social situation of the country, Chinese Prime Minister Li Keqiang asked Prime Minister Imran Khan, "How long will we continue to buy your substandard sugar? Why don't you make anything but sugar?" We have to admit that we are far behind in production, Vietnam and Bangladesh are ahead of us, we have to focus on industry and production, we have made mistakes in the past, General Zia-ul-Haq also made mistakes and General Pervez Musharraf also made mistakes and our political leadership also kept making mistakes but if we keep crying over these mistakes we will not be able to move forward. We have to move forward. It was also said that in the past the Establishment had a tough stance on Afghanistan and Kashmir. The people, politicians and the media all objected to the Establishment but today the Establishment itself wants to rectify these issues. Let's move on from wars and conflicts but our intentions are still in doubt. This attitude is not right. There are still people in Pakistan who saw the era of General Ayub Khan with their own eyes. "At that time, there was a penalty for not having a bicycle light and there was no idea of crossing the road except for the zebra cross. We want to take the country back to this place, there should be rule of law and society is flourishing," he said. Gaya Nawaz Sharif is not an enemy of the country, he is a patriot and he used to respect the current army chief a lot, the army also respects him but as far as his cases are concerned, it is up to the courts to decide, Imran Khan said. Worldview "is great, it tackles the world's great rulers very well. When he went to meet Donald Trump, the entire US cabinet was sitting in front of him. When Imran Khan started talking, it seemed for a while that he is the President of the US, the entire US cabinet is his cabinet and Donald Trump is the guest Prime Minister. Yes, we also need to understand the changes in the Middle East, the young people have come to power in the Arab countries, they are different from their elders, they see the world in terms of commercial advantages and disadvantages, so we have been talking to each other for a long time now. Brothers will not be able to say. We have to increase our economic position, we buy ارب 4 billion worth of petrol every year and India 40 40 billion, think for yourself with whom the Arab countries have an advantage in trade so we have to believe, if we are an economic power then the world We will be respected otherwise no country in the world will support us and we were also told that the military leadership respects General Ashfaq Parvez Kayani very much. General Kayani could not have done as much as ten army chiefs together. The country was going, General Kayani saved him and it was also told that Pakistan can no longer walk on the old path, we have to forget the past and move forward and for that we all have to work together, this country belongs to all. And it is everyone's responsibility.

http://javedch.com/javed-chaudhry-urdu-columns/2021/04/29/770636

 

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Ye Mulk Hai Tissue Paper Nahi

If a list of journalists is made in Pakistan today, then Talat Hussain will come first in a few names, be it print media, television or social media. Talat Hussain also made his place in it and left an imprint. This is now his YouTube channel. His videos are also viral, Talat Sahib had logged a few days ago with reference to my column "Malik Ab Badle Ga" and interviewed Ishaq Dar Sahib in it, I watched this interview so I would like to protest against Talat Hussain in a very polite manner. Talat Sahib was not present in the briefing I quoted in the column.

My column was not detailed either, Talat Sahib took a very small part from the inside of this short column and did the whole program on it, if he had contacted me before the program, he would have asked me for details or ISPR The other side of the picture would have been exposed to them and their V-log would have been neutral and solid, but due to the "one-sided angle" their program would have been biased and unbalanced due to which I would have to clear the facts. I have been forced.

I also respect Ishaq Dar Sahib, he always recites Durood Sharif, he is also devoted to Hazrat Data Ganj Bakhsh and Hazrat Bari Imam but this does not mean that he is free from mistakes or shortcomings. Ishaq Dar Sahib also made mistakes and the nation is suffering the consequences of these mistakes. If we really love this country, then we have to admit our mistakes and correct them, otherwise this country will be destroyed.

There were three incidents related to Dar Sahib in my column, I write the details of all three and leave the decision to the readers. The first incident was related to loans. Dar Sahib should put aside the objections of Army Chief General Qamar Javed Bajwa and just say whether the Prime Minister's Office has not been expressing its concern about loans since 2016. Didn't Principal Secretary Fawad Hassan Fawad say in every meeting that if we did not sustain our growth, we would not be able to repay the loans in 2019 and did not the National Security Committee headed by Shahid Khaqan Abbasi meet in 2017 and this Chairman Joint Chiefs of Staff General Zubair Hayat, Army Chief General Qamar Javed Bajwa, Air Chief Marshal Sohail Aman and Naval Chief Admiral Zakaullah were not present in the meeting and Ahsan Iqbal did not give a briefing on C-Pack. Later, the army chief did not ask Ishaq Dar this.

Dar Sahib Financial Experts are saying that we have taken loans at high interest, we will not be able to repay it and Dar Sahib was not silent and then Fawad Hassan Fawad did not respond to the Prime Minister's signal and Fawad Sahib He did not admit that "Inclusion of Orange Line Metro Train in C-Pack increased interest" and did not Fawad also accept that "these loans will be a big challenge for Pakistan in 2019?" Give! The truth is that General Bajwa had told Ishaq Dar at that time.

Dar Sahib, even if we keep the metro ticket at Rs. 240, we will be able to pay the installments with great difficulty. Can you explain to us how we will pay the loan by charging Rs. 20? General Bajwa also said, I am not against loans but we should take loans and build projects like Tarbela and Mangla Dam, they will complete their cost in five to seven years and the country will also get long term benefits. How do we get rid of this debt by selling a ticket of Rs 240 for Rs 20? Dar Sahib then turned his face from left to right and said, "General Sahib, some decisions are also political" and forty people, including three service chiefs, witnessed the incident.

I personally know Fawad Hassan Fawad, Prime Minister Mian Nawaz Sharif and the Chinese government were all against the Orange Line Metro train, China did not want to include it in the C-pack, Fawad Hassan Fawad is Hayat, you ask them what He did not say in the cabinet meeting that these projects are not wise, we will not be able to repay the loans, they were not in favor of metro buses either, he said that with this money we can build 22 lenses in Lahore. But no one listened to him. I called Fawad Hassan Fawad for confirmation yesterday and he admitted that "Chinese leaders and Nawaz Sharif were also not happy with this project" but Dar Sahib is still calling it his star project. Are We now come to the issue of Vespa, Stefano Pontecorvo was Italy's ambassador to Pakistan.

He is currently NATO's Civilian Representative in Afghanistan. He went to Army Chief General Qamar Javed Bajwa and said that Vespa wanted to set up two plants in Pakistan but Finance Minister Ishaq Dar demanded a commission from Vespa's management. This issue was also raised in the meeting of the National Security Committee. Everyone in the committee had heard this but no one had asked Ishaq Dar for clarification. I also heard this in 2017 and confirmed it. The people in this meeting are still alive today and you can confirm with them.


The government can ask Vespa and Stefano and General Bajwa is there, you ask them. Whether these accusations are true or false is known only to Allah whom we all have to know so we should try as much as possible to speak the truth so that we are not ashamed in front of our conscience and our Lord. General Bajwa has no interest in both, my aim is only this country, if this is it then we are all, if not this then choose nothing


Ye Mulk Hai Tissue Paper Nahi | Javed Chaudhry | Daily Urdu Columns

 

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[BATMAN]

@ghazi52

Egyptian investor to launch multibillion-dollar housing project in Pakistan

KARACHI: Egypt’s Ora Developers and its Pakistani partners plan to launch a multibillion-dollar luxury housing project on the outskirts of Islamabad next month, Senator Usman Saifullah Khan, vice chairman of the Saifullah Group, confirmed to Arab News on Wednesday. Khan said that the same...

www.arabnews.com

 

[farok84]

Pakistan LNG seeks 9 cargoes for July-August

Published May 25, 2021 - Updated a day ago

SINGAPORE: Pakistan LNG is seeking nine liquefied natural gas (LNG) cargoes for delivery over July to August, a tender document posted on the company website showed.

The cargoes are 140,000 cubic metres each and are for delivery over July 8-9, July 12-13, July 17-18, July 28-29, Aug 2-3, Aug 7-8, Aug 12-13, Aug 17-18 and Aug 27-28.

The tender closes on June 2 and is valid until June 4.

The company last received offers from 12 companies for a tender seeking eight cargoes for delivery from late April to June.

Published in Dawn, May 25th, 2021


Note:
Dutch TTF futures for July is $9.35/mmbtu and August, $9.26/mmbtu while JKM futures for July and August are $10.6/mmbtu and $10.58/mmbtu respectively. We should be getting something in between, most probably a 10% discount to JKM price.

 

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[Big_bud]

Ye Mulk Hai Tissue Paper Nahi

I also respect Ishaq Dar Sahib, he always recites Durood Sharif, he is also devoted to Hazrat Data Ganj Bakhsh and Hazrat Bari Imam but this does not mean that he is free from mistakes or shortcomings. Ishaq Dar Sahib also made mistakes and the nation is suffering the consequences of these mistakes. If we really love this country, then we have to admit our mistakes and correct them, otherwise this country will be destroyed.

Ye Mulk Hai Tissue Paper Nahi | Javed Chaudhry | Daily Urdu Columns

In Pakistan a lot of people with long beards, mehrab, tasbih in hand, haji sahabs are the most corrupt people of our country. I know people who are extremely corrupt, corrupt & rotten to the core but they never forget these theatrics of announcing that we give Niyaz every this and that date! We hold mehfil e milads! We go to Umrah every year! But I know what they actually do, they go and do some shopping in Dubai. Bring some aab- e zam zam and khajoors on the way back for their colleagues and whole mahalla just so that people think they are good people! There are plenty of munafiq Muslims in Pakistan and indeed they are the worst of the worst for Islam and Pakistan both!

 

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[farok84]

Six companies place lowest offers for Pakistan LNG buy tender

Six companies have placed the lowest offers for a buy tender by Pakistan LNG for nine liquefied natural gas (LNG) cargoes to be delivered in July and August, according to a document posted on the company website.

www.nasdaq.com

Six companies place lowest offers for Pakistan LNG buy tender
CONTRIBUTOR
Jessica Jaganathan Reuters
PUBLISHED
JUN 2, 2021 10:14PM EDT

CREDIT: REUTERS/CAREN FIROUZ


SINGAPORE, June 3 (Reuters) - Six companies have placed the lowest offers for a buy tender by Pakistan LNG for nine liquefied natural gas (LNG) cargoes to be delivered in July and August, according to a document posted on the company website.

Vitol placed the lowest offer for three cargoes, while Qatar Petroleum Trading placed the lowest offer for two cargoes, according to the document.

Trafigura, ENI, BP Singapore and DXT Commodities placed the lowest offers for the other four cargoes.
The lowest prices offered ranged from $10.2937 per million British thermal units (mmBtu) to $11.7747 per mmBtu for the cargoes to be delivered in July, and $10.51 to $10.8312 for the cargoes to be delivered in August.

Other companies which participated in the tender are Total Gas & Power, POSCO International and PetroChina International.

Pakistan LNG was seeking nine cargoes of 140,000 cubic metres each for delivery over July 8-9, July 12-13, July 17-18, July 28-29, Aug. 2-3, Aug. 7-8, Aug. 12-13, Aug. 17-18 and Aug. 27-28.
The tender closed on June 2 and is valid until June 4.

https://www.paklng.com/LNG/T36/FinalEval_T36.pdf

https://twitter.com/x/status/1400308770958319619

Note:
Apart from Chinese and European demand and storage for winters, last week shutdown of nuclear power plant unit in SK has contributed to this bullishness. We might see a cancellation and issuance of a new tender.