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Pakistan’s rupee falls fast as default fears intensify: Financial Times

because pigs were prepapring to oust Elected Govr
People are literally calling the entire military cadre pigs and when i bad mouth PTI shit policies i get banned or restricted to reply to posts. Wild ridee

Yes, poori hakoomat aur fauj is waqt Miftah ki inhi 'hopes' par bethi hui hain. Shahbaz Sharif and Miftah literally begged everyone to believe in this hope story last week...

I hope for the sake of the country the hope turns out to be reality, but hope is never a good strategy.

So, how is the sale of SOE's and power plants going?
Hope will work when they're allowed to work. When you have niazi homing on your *** with massive political instability and gambling, hope shatters.

Khan's been whitewashed again. Sir ghalti is hukamat ki. He'll bitch for another 5 years on how PDM stole the entire exchequer in months and he can't do shit. Lol
 
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Thanks to our beghairat leaders PKR will hit 300 in no time now. Time to DUMP PKR for USD or Bitcoin.
 
I was actually going to respond to what you wrote and might agree with 'some' of your points, but this totally caught me off guard. If you really think he is the most capable person we have, then God help us indeed!
@Mav3rick thinks that the man responsible for 2018 BOP crisis, with highest CAD in Pakistan's history is somehow savior of Pakistan. Don't even try to convince him. He is concrete wall on this issue.
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I have tried many times to explain @Mav3rick how Dar's exchange rate policy damaged economy of Pakistan, even citing world famous macroeconomist Dr Atif Mian's views on the issue, but still he thinks he knows more than these professors on the subject. My DP Dar is his love story. The End
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“I think there are many outside [powers] who would want to avoid an outright disaster in Pakistan created by an economic collapse.”
Pakistan probably has made more money off of threatening to collapse with nukes, i.e. blow itself up than it cost to build those nukes. a profitable enterprise, one of the many army-run ones.
 
@Mav3rick thinks that the man responsible for 2018 BOP crisis, with highest CAD in Pakistan's history is somehow savior of Pakistan. Don't even try to convince him. He is concrete wall on this issue.View attachment 865697

I have tried many times to explain @Mav3rick how Dar's exchange rate policy damaged economy of Pakistan, even citing world famous macroeconomist Dr Atif Mian's views on the issue, but still he thinks he knows more than these professors on the subject. My DP Dar is his love story. The End
View attachment 865698
There was some news that Mr. Dar will come back to Pakistan to replace Miftah. Is that plan in motion or was that shelved? :undecided:
 
I was actually going to respond to what you wrote and might agree with 'some' of your points, but this totally caught me off guard. If you really think he is the most capable person we have, then God help us indeed!
Do you not realize that the man of the moment for Imran Khan was, and still is Shaukat Tarin? How many times have I personally mentioned on this forum what this man has done to his own Bank? A person who could not manage his own Bank was given the reigns of Finance for the entire country. In the recent past, and within available human resources, who else has performed as exceptionally as Dar? Dar was the one who was bringing in all the FDI and he was the one who had proposed and setup SEZ's all over Pakistan with special attractions to foreign investors; Dar was the one who setup the foundation for industry and export not just by investing and ensuring that surplus power was available to all industries (as opposed to 18+ hours of load shedding during PPP era) but also through special incentives such as tax holidays, subsidized land grants etc., to FDI......investment in Pakistan was picking up, our growth was getting better and all industries were flourishing when Dar was removed in 2017 after which everything went downhill and still continues to go downhill. We hit our peak in 2017 and we are nowhere close to it after 5 years.

But you will have to consider him objectively and not with political lenses. He is accused of siphoning off Billions of USD (estimated 11 Billion?), he is accused of burning Billions of USD (8-12 estimated) just to keep the PKR artificially stable at 104; he is accused of massive corruption and he was providing subsidies on electricity and many other things worth many more Billions of PKR etc. Despite all that, most investment by Pakistan in CPEC projects, and delivery of Projects from power plants to GLOC etc., all started and completed under Dar. He must have been a magician to steal and ML 11 Billion USD, burn another 8-12 Billion USD, provide hundreds of Billions of PKR in subsidies, leave over 11 Billion in reserves (as opposed to 4 Billion by PTI) before net payables which would render reserves down to 9 Billion (and a mere 2 Billion by PTI).

Agreed in principle. But does that mean you just throw it away to anyone of your choosing with total disregard for the rules and procedures?

The SOE's being sold to Gulf countries has absolutely nothing to do with govt restructuring itself, or taking a strategic shift in management, or cutting losses. It has all to do with us needing $4 billion, and the Gulf countries having us by the balls so to speak, and we need to accept whatever demands they have, else the IMF won't go through with the agreement.

To end, I would just like to ask you this question. If you are a wealthy person, and a shopkeeper comes to you and he wants to renovate his shop and asks you for a loan, but then you find out that the ownership of the shop is in dispute itself and there are high chances the guy will not be the shopkeeper next week or next month, will you give him a loan?
If you consider selling shares to the Governments of UAE and Saudi Arabia as throwing away then I have no argument. But specifically on rules and procedures, our rules and procedures are not only severely outdated and redundant, they are a menace and allow intrusion from other organs which causes us significant overall losses. Examples are Pakistan Steel Mills which Musharraf tried to privatize but was prevented by Ch. Iftikhar and which has ended up costing us hundreds of Billions of PKR (a much bigger cumulative net loss every year even if the SOE was being sold cheaply). After that, Rekodig was another matter in which the Courts needlessly invaded and which nearly cost us 6-8 Billion USD in penalties (avoided only by handing over the Lion's share to Tethyan) and that too after spending tens of Millions of USD in legal processes and lost revenue of Billions of USD over the years. The IPP and Turkish ship based Power Plants is another saga which was resolved only due to the good graces of the Turkish President which would otherwise have cost us many more hundreds of millions of USD in penalties because of Sovereign Guarantees but which the courts were too stupid to understand. PIA, Pakistan Railways and many other SOE need private management to turn them around and to free them from politics into profit making entities even if they are initially sold at cheaper value.

I would say that the Gulf countries have given us too much so even if they now squeeze, they are justified. We could not stand on our own feet in 75 years and repeatedly go back to the Gulf countries for help and handouts; without giving anything back in return. If only we had provided military support, we could have been so much better off financially as then we could have negotiated a handsome bailout from Saudi Arabia.

The answer to your question is NO; I will not provide a loan to the Shop keeper if his ownership is disputed. But lets build more on that and if, after elections, when Imran Khan is forced to make a Government with the help of PPP and if PML and some other parties too are strong in the assemblies and oppose everything that Imran Khan does to ensure that the country is financially and politically instable, which Imran Khan has been doing ever since PML came to power in 2013......what would the result be?
 
There was some news that Mr. Dar will come back to Pakistan to replace Miftah. Is that plan in motion or was that shelved? :undecided:
Hard to see where this Government is going to bury its head next but @Norwegian is a supporter of Imran Khan who has appointed and removed many Finance Ministers and even more Finance Secretaries in his tenure as he was more interested in musical chairs than stability and who finally appointed a person who owns a Bank which has lost all credibility and one which could not find a buyer even after lucrative offers from Shaukat Tarin to buyers. So @Norwegian is someone who has no understanding of long term plans and relies on superfluous and political arguments and statements as opposed to solid plans. PML was in for the long haul and had plans for the next 5 years to be in power when the establishment removed them with the help of the same courts and which then elevated Imran Khan to the highest office through pre-poll rigging, poll-rigging and massive post-poll rigging and manipulations. The result and performance of Imran Khan is no secret and neither is his final act and final gift to Pakistan.
 
People are literally calling the entire military cadre pigs and when i bad mouth PTI shit policies i get banned or restricted to reply to posts. Wild ridee
ok and youre complaining for getting banned to me ?
 
something seriously wrong with the world economic setup. Not talking about Pakistan here.
US increases interest rates and worldwide currency depreciation and inflation takes place.
even the euro has depreciated by 6 % , inr by 7 %.

Its not as if suddenly the world's economic activity saw a massive drop.
In India for example, production is up , growth is at 7 % but the rupee is under pressure because of external factors.
 
Pura speculation ka game hai.. Such kind of depreciation otherwise wrecks economy. Fiscal deficit will blow up. Interest payment on debts will be much higher than last year simply because of huge rupee depreciation and massive increase in interest rate. Somebody is gaming the whole system to make billions while putting whole country in misery.
 
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