Pakistan's Economy - News and Updates

[Path-Finder]

https://twitter.com/x/status/1260487469063118853

 

[ziaulislam]

https://twitter.com/x/status/1260487469063118853

Either the guy is an idiots or hypocrate and corrupt to the core

On positive news a massive news

https://twitter.com/x/status/1260645542402461697

 

[ejaz007]

GDP growth rate to remain negative 1.5pc this year: Hafeez Shaikh

ISLAMABAD: With the current projections of negative 1.5, GDP growth rate owing to COVID-19 pandemic impact, the country’s economy would turn around to witness 2 percent growth in upcoming fiscal year (2020-21), Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh said on Thursday.

Participating in a Webinar on ‘Pakistan Economy: PostCOVID-19,’ organised by Institute of Chartered Accountant of Pakistan (ICAP), the adviser said that Pakistan was expecting around 3 percent growth during the current fiscal year, however it would end up negative 1 to 1.5 percent due to coronavirus impact.

However, he said when the situation improves, the GDP was expected to grow by 2 percent next year. Likewise, the adviser said that the fiscal deficit, which was projected at 9 percent this year compared to the target of 7 percent, would also be brought down next year while, the debt to GDP ratio would also be reduced.

Talking about the post COVID-19 situation, the adviser said that the International Monetary Fund (IMF) had predicted 3 percent global growth. The contraction in global economy had been affecting the country’s exports as had been witnessed in April during which the exports decline by 40 percent as compared to last April.

Likewise, unemployment was going up due to lockdown and low economic activity while the revenue collection also declined so the expenditure side was going to be affected. He said that the government had taken comprehensive measures and announced Rs1.2 trillion economic stimulus package to help businesses and vulnerable segments of the society deal with the challenges of coronavirus.

He said that IMF had been supportive of government’s stimulus package, which was introduced by the government to check contraction of economy, while the package given to construction industry would also help keep the economy activities on.

He said when the government came to power, the country was facing severe economic crisis, however efforts were made to get the country out of these crises while certain tough decisions were made which ultimately produced results.

Owing to those policies, he added, the current account deficit was reduced from $20 billion to just $3 billion. Likewise, stagnant exports started witnessing growth whereas rupee was allowed to find correct value in market. In addition, confidence was restored in global players and financial institutions after the country entered into IMF programme, which provided $6 billion whereas Asian Development Bank (ADB) and World Bank (WB) were also backing the country.

https://www.thenews.com.pk/print/65...remain-negative-1-5pc-this-year-hafeez-shaikh

 

[volatile]

ISLAMABAD: With the current projections of negative 1.5, GDP growth rate owing to COVID-19 pandemic impact, the country’s economy would turn around to witness 2 percent growth in upcoming fiscal year (2020-21), Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh said on Thursday.

Participating in a Webinar on ‘Pakistan Economy: PostCOVID-19,’ organised by Institute of Chartered Accountant of Pakistan (ICAP), the adviser said that Pakistan was expecting around 3 percent growth during the current fiscal year, however it would end up negative 1 to 1.5 percent due to coronavirus impact.

However, he said when the situation improves, the GDP was expected to grow by 2 percent next year. Likewise, the adviser said that the fiscal deficit, which was projected at 9 percent this year compared to the target of 7 percent, would also be brought down next year while, the debt to GDP ratio would also be reduced.

Talking about the post COVID-19 situation, the adviser said that the International Monetary Fund (IMF) had predicted 3 percent global growth. The contraction in global economy had been affecting the country’s exports as had been witnessed in April during which the exports decline by 40 percent as compared to last April.

Likewise, unemployment was going up due to lockdown and low economic activity while the revenue collection also declined so the expenditure side was going to be affected. He said that the government had taken comprehensive measures and announced Rs1.2 trillion economic stimulus package to help businesses and vulnerable segments of the society deal with the challenges of coronavirus.

He said that IMF had been supportive of government’s stimulus package, which was introduced by the government to check contraction of economy, while the package given to construction industry would also help keep the economy activities on.

He said when the government came to power, the country was facing severe economic crisis, however efforts were made to get the country out of these crises while certain tough decisions were made which ultimately produced results.

Owing to those policies, he added, the current account deficit was reduced from $20 billion to just $3 billion. Likewise, stagnant exports started witnessing growth whereas rupee was allowed to find correct value in market. In addition, confidence was restored in global players and financial institutions after the country entered into IMF programme, which provided $6 billion whereas Asian Development Bank (ADB) and World Bank (WB) were also backing the country.

https://www.thenews.com.pk/print/65...remain-negative-1-5pc-this-year-hafeez-shaikh

I do wonder where this party is now ,when GDP was at 5% the same party being political said

https://www.app.com.pk/national-security-strongly-linked-with-economy-dg-ispr/

 

[Path-Finder]

 

[Arsalan]

@Syed1. and @ejaz007 enough of this. This is not your home where you can use whatever filthy language you want to neither is this a private chat page or social media profile. Any abusive and insulting post have been deleted for now, next step will be to issue warnings and hand out bans. I hope this serves as a soft warning.

 

[Path-Finder]

https://twitter.com/x/status/1262777010612506625

1/9) دو سال میں PTI کو پاکستانی تاریخ کے دو بد ترین بحرانوں کا سامنا کرنا پڑا، ایسی صورتحال میں PMLN/PPP کا سارا الزام پی ٹی آئی حکومت کو دینا سراسر بدنیتی اور سیاسی point scoring کے علاوہ کچھ نہیں۔

2/9)کرونا کی وجہ سے عالمی معاشی بحران اور اس کے پاکستان پر اثرات دیکھ کر ن لیگ کے رہنما آج کل دوبارہ اپنے دور میں GDP کی شرح کی بات کرنے لگے ہیں، لیکن ان کے دور میں یہ شرح اوسطً زیادہ ہونے کے باوجود پی پی پی دور میں تقریباً 13 لاکھ زیادہ لوگوں کو نوکریاں ملی۔

3/9)وجہ یہ ہے کے ن لیگ کے دور میں معیشت کا انحصار اضافی Imports کےاستعمال پر رہا،Exports کم ہوتی رہی تجارتی خسارہ پورا کرنے کیلیے بیرونی قرضے بڑھتے رہے، 2013 میں جو کرنٹ اکاونٹ خسارہ 2.5$ارب ڈالر فی سال تھا وہ 2018 میں 20ارب ڈالر تک پہنچ گیا اور قرضے میں 35ارب ڈالر کاُاضافہ ہوا۔

4/9)مطلب خسارے بڑھنے کی وجہ سے اب ایک سال میں 17.5$ ارب ڈالر اضافی چاہیے تھے اور Imports کی ادائیگی کے لیے مارکیٹ میں ڈالر کی طلب بڑھنے سے روپے کے مقابلے میں ڈالر کی قیمت بھی بڑھ گئی۔ ڈار صاحب نے خسارہ کم کرنے کی بجائے artificially قرض اورسٹیٹ بنک کے زخائر سے روپے کو مستحکم رکھا

5/9)2017 جون میں زرِمبادلہ کے زخائر 16$ ارب ڈالر تک تھے جو جون 2018 کے 9$ ارب ڈالر رہ گئے، مطلب اس پالیسی کے تسلسل کے لیے 7$ ارب ڈالرسٹیٹ بینک کے زخائر سے اور اسی سال 11$ ارب ڈالر نئے قرض کی مد میں لیے گئے۔ نئی آنے والی پی ٹی آئی حکومت کے لیے یہ پالیسی برقرار رکھنا نا ممکن تھا

6/9)یہ صرف بیرونی معملات کا حال تھا، PIA,Railway,PTV,Pakistan Post, Steel Mills سمیت دیگر اداروں کا سالانہ نقصان 450 ارب،گردشی قرضہ 1300ارب تک پہنچ چکا تھا اور ن لیگ حکومت کے صرف آخری ایک سال میں گیس اور بجلی کے شعبوں میں 600ارب کا گردشی قرض بن گیا۔

7/9)اب نا تو سٹیٹ بنک کے پاس اتنے زخائر تھے کے دوبارہ 7ارب ڈالر خرچ دے اور نا ہی اس صورتحال میں سستا بیرونی قرضہ ملتا۔ لحاضہ حکومت نے دوست ممالک کی مدد لی، روپے کی قدر کو کم کیا اور ساتھ میںIMF لیا، ان سخت اقدامات سے امپورٹس سے ہونے والی GDP گروتھ کی شرح کم ہوئی اور مہنگائی آئی

8/9)لیکن پاکستان دیوالیہ ہونے سے بچ گیا، کرنٹ اکاؤنٹ خسارہ 20 ارب ڈالر سے کم ہو کر موجودہ مالی سال میں 6$ارب ڈالر تک رہنے کی توقع تھی، حکومت کی مکمل ترجیح Exports میں اضافے، tourism, نئی سرمایہ کاری سے ہونے والی گروتھ پر تھی۔ زرمبادلہ کے زخائر، ٹیکس رونیو، اور exports میں

9/9)مسلسل اضافہ دیکھا جا رہا تھا، مہنگائی کی شرح کم ہورہی تھی، عالمی ادارے دوبارہ معیشت مستحکم ہونے کی بات کر رہے تھے۔ لیکن پوری دنیا میں کرونا لاک ڈاؤن کی وجی سے export order رک گئے، پاکستان میں صنعت بند کرنی پڑی، ان حالات کی وجہ سے پاکستان سمیت پوری دنیا کے بیشتر ممالک کو

10)منفی گروٹھ کا سامنا ہے۔ لیکن مہنگائی کی شرح کم ہوئی ہے، حکومت نے معیشت کو سہارا دینے کے لیے مختلف پیکج دیے ہیں جو دوسرے کافی ترقی پذیر ممالک سے زیادہ ہیں۔ کرونا سے پہلے حاصل کے گئے fundamentals ابھی بھی قائم ہیں۔ کرونا ختم ہونے کے بعد پاکستان دیرپا ترقی کی راہ پر گامزن ہوگا۔IA

https://threader.app/thread/1262777010612506625

 

[Incog_nito]

Is govt planning to privatize airports very soon?
Then what about PIA, Railway, PNSC, and other Govt owned enterprises?

 

[Syed1.]

Is govt planning to privatize airports very soon?
Then what about PIA, Railway, PNSC, and other Govt owned enterprises?

The plan was to outsource the services of airports so that they could be better managed but it was put off today, because of corona there was a chance that investor interest would have been lukewarm

 

[Path-Finder]

https://twitter.com/x/status/1267044663070019584

https://twitter.com/x/status/1267044669415919616

 

[Syed1.]

https://twitter.com/x/status/1267044663070019584

https://twitter.com/x/status/1267044669415919616

Glad he posted in Urdu and in simple words so that even patwaris can understand. I won't hold my breath though.

 

[Flight of falcon]

I haven’t seen Ejaz 007.... our resident arastoo parchi economist ..... where is he now a days ?
His knowledge of economics make me promise myself that I will have my kids take a course in economics so as not to sound and speak utter nonsense ...

 

[Path-Finder]

https://twitter.com/x/status/1268257914969559047

https://twitter.com/x/status/1268257918614372359

 

[Flight of falcon]

https://twitter.com/x/status/1268257914969559047

https://twitter.com/x/status/1268257918614372359

now look at this Ishaq Dar comments...this idiot was our Finance minister....does he really not know the difference between T bills and bond or just too stupid to realize what he is typing.

 

[Syed1.]

So July to May.... Exports are $20b as opposed to $21.5b at same time last year. That is good performance since essentially exports went down to next to nothing in March and April. We would have achieved exports of around $28b this year had there not been any corona.

Imports in this period are about $41b which is $10b less than same time last year.

The trade deficit is about $21b now, by end of year (30th June 2020) I'm guessing it'll be $23b.. considering how we will get around $20b in remittances the current account deficit is almost balanced with a miniscule $3b left.

This is a remarkable feat by the PTI government considering they were left with a CAD of $20b just 2 years ago, and if you think about it primary budget might be in surplus because we get FDI and FPI etc that cover this $3b deficit.

If corona doesn't shut down the economy for much longer we are in a good position to start improving.