Plight of Pakistani Exporters Under PDM/Establishment Alliance

[Crimson Blue]

Here this 2 minute clip from press conference of Pakistani exporters further solidifying the wisdom of Old Wise Men. You would not see this on T.V screens.

https://twitter.com/x/status/1611368611678937088

@Irfan Baloch @blain2

 

[epebble]

Here this 2 minute clip from press conference of Pakistani exporters further solidifying the wisdom of Old Wise Men. You would not see this on T.V screens.

https://twitter.com/x/status/1611368611678937088

@Irfan Baloch @blain2

Looks like liquidity has completely run out. Obviously, no contract can be entered into with an empty wallet. Some restructuring should have been done earlier to prevent total collapse.

Pakistan imports threatened as forex reserves hit eight-year low​

Pakistan imports threatened as forex reserves hit eight-year low

KARACHI: Pakistan's central bank forex reserves have plunged to an eight-year low of $5.6 billion, posing a serious challenge for the country in financing imports.Coupled with another $5.8 billion...

www.thenews.com.pk

 

[Path-Finder]

Here this 2 minute clip from press conference of Pakistani exporters further solidifying the wisdom of Old Wise Men. You would not see this on T.V screens.

https://twitter.com/x/status/1611368611678937088

@Irfan Baloch @blain2

@El Sidd

GHQ's bera-gharaq brigade. At their finest.

https://twitter.com/x/status/1611476456881668097

https://twitter.com/x/status/1610353744037675010

 

[Crimson Blue]

Pakistani businessmen are now accusing that federal government (FBR) is taking Tax out of their bank accounts under section 40A of banking law.
Listen to this 2 minutes clip:

https://twitter.com/x/status/1611642307815555072

 

[Ali_Baba]

This is the same routine they pulled last time SBP ran out of cash - they basically confiscated private foreign exchange reserves ..

 

[epebble]

Pakistani businessmen are now accusing that federal government (FBR) is taking money out of their Foreign Currency accounts under section 40A of banking law.
Listen to this 2 minutes clip:

https://twitter.com/x/status/1611642307815555072

Nothing in 40A of https://www.sbp.org.pk/publications/prudential/ordinance_62.pdf
seems to allow confiscation. Are they replacing the foreign currency with equivalent rupees per Dar rate or market rate? Dar rate would be a loss as the commercial banks might have purchased at market rate.

This is the same routine they pulled last time SBP ran out of cash - they basically confiscated private foreign exchange reserves ..

Confiscate or replace with equivalent Pakistan money? If replaced, it is 'forced repatriation' and may be legal.

 

[Crimson Blue]

Nothing in 40A of https://www.sbp.org.pk/publications/prudential/ordinance_62.pdf
seems to allow confiscation. Are they replacing the foreign currency with equivalent rupees per Dar rate or market rate? Dar rate would be a loss as the commercial banks might have purchased at market rate.

Ok. I listened to that clip few more times and it appears the speaker is saying that FBR is taking money (probably TAX) from their bank accounts which businessmen consider illegal and they appealed against it. He has not mentioned that money is being taken out from foreign currency accounts. I have edited my post.

Sorry I mixed up two things because in first part of the clip, he was talking about foreign currency (USD).

 

[AZADPAKISTAN2009]

One more achievement for JANRAIL Raj

 

[GriffinsRule]

Jeeway jeeway Mir Bajwa and PDM cronies

 

[HAIDER]

 

[TheSolution]

What the f*ck is going on in this country, everywhere you look there is only bad news

 

[Riz]

Still hafiz & co. Using full force to manage Imran khan and PTI , inko koi sharam koi heya nhi ha , inko sharam ati ge nhi ha lantion ko

 

[epebble]

What the f*ck is going on in this country, everywhere you look there is only bad news

Due to unbelievable incompetence, the government of Pakistan is converting a sovereign debt crisis into a great depression, which is a catastrophe. When the foreign exchange balance was about $20 billion, they should have instituted strict import controls to keep the money for only essentials like food, fuel and medicine. They didn't; now they have run out of money, businesses are shutting down causing mass unemployment and there are food riots already. A difficult but manageable problem has been converted into national collapse comparable to USSR's dissolution in 1991.

 

[TheSolution]

Due to unbelievable incompetence, the government of Pakistan is converting a sovereign debt crisis into a great depression, which is a catastrophe. When the foreign exchange balance was about $20 billion, they should have instituted strict import controls to keep the money for only essentials like food, fuel and medicine. They didn't; now they have run out of money, businesses are shutting down causing mass unemployment and there are food riots already. A difficult but manageable problem has been converted into national collapse comparable to USSR's dissolution in 1991.

Extreme incompetence mixed with corruption and nepotism is a recipe for self-destruction.

Their ego and addiction to money laundering will never allow them to accept they aren't capable of managing the country and to put someone more capable & deserving in charge.

Seems like they are hellbent on dying on this hill. Pessimism is in the air.

 

[epebble]

Extreme incompetence mixed with corruption and nepotism is a recipe for self-destruction.

Their ego and addiction to money laundering will never allow them to accept they aren't capable of managing the country and to put someone more capable & deserving in charge.

Seems like they are hellbent on dying on this hill. Pessimism is in the air.

Look at this man's (Dar) idiotic obstinacy:

Pressure mounts on Dar to stop ‘managing’ exchange rate​

Pressure mounts on Dar to stop ‘managing’ exchange rate

Sources claim the finance minister is not ready to accept the single exchange rate market.

www.dawn.com

Pressure is now mounting on the finance minister from stakeholders to stop efforts to get control over the exchange rate artificially as this policy has resulted in three types of exchange rates — interbank, open market and grey — that have practically been fuelling economic instability. However, sources claimed that the finance minister is not ready to accept the single exchange rate market.

Short of beating on his head with a steel rod, everything has been tried; but he is still not relenting.