PM Imran 'optimistic' govt may not need IMF bailout

[enquencher]

 

[A.A. Khan]

I am not the one cursing absconder dar for going to IMF bcoz he inherited treasure in bad shape.. I am blaming him for how he used that IMF cushion for artificial success in which you are still struck completly avoiding the consequences of how reserve depleted, decrease in exports, rise in imports, current balance of payement crisis..

And 20 billion exports (15-16) are no target, I expect Pakistan to break the failed PPP's bearers of 25 billion this year. Even Zardari was better then so called experienced team who managed country when oil was 140 per barrel.

I'm not a fan of Dar and have voted against PML-N this election FOR CHANGE, and this is what we have got.

The reserves were also manipulatively depleted within a year when Dar was forced out of the country in 2017. All these issues were quadrupled when our bureaucracy corrupt mafia were handling it same way how they are handling now on oversight of revolutionary PTI.

Rofl you giving credit to Zardari for what? Managing taking more loans and destroying the industry?
Dismantling institutions, beggar BISP program to reward loyalists and voter strategy with support from US introducing the cancer of corruption into bureaucracy which is why we are stuck in this black hole to this day. ZArdari literally allowed IMF invaders to write policies for his govt. damaging Pakistan for the next 20+ years or even more. In return assurance to protect himself. Please google 1994 Zardari electricity policy which has ensured Pakistan suffers from loadshedding for the foreseeable future. 1995 gender rebalance social agenda to push food inflation on such a high that women are forced out to work alongwith men to make ends meet. And they did the same again in 2009 which wiped out 2 trillion capital from the market. 1988 bureaucracy under Gen. Zia was way better, systemic and least corrupt compared to the garbage that exists today thanks to PPP. Beofre doing bakwaas take avisit to Sindh hospitals and see what they've done to the country.

 

[AZ1]

Please first study what are the loans we are suppose to pay for FY 2018, 2019. For example , we are due by Apr 29, 2019 to pay $1 bn on maturity of 5 year-Eurobond. CPEC loans are not that much of an issue as institutional loans.

PTI was voted into office as they promised they will change govt. practice of taking more loans to payoff loans. They are doing the same old thing with zero measures to improve exports. After IMF program it will get even more worse. More brain drain also pushes govt. to take in foreign workers.

What has PTI done that is different from previous govt. which they criticised? They are adding more back breaking burden to the salaried class. The same corrupt mafia in govt. and private sector is being rescued on the expense of the common man.

The actions suggest they are encouraging the corrupt to screw whatever is left and have almost joined them.

I am sure you haven't or doesn't want to read the good news from PTI rather gathering bad news. They have already taken initiative to increase the export and trying to decrease import as much as possible.

- 100 textile reopen in faislabad

https://www.globalvillagespace.com/textile-industry-100-mills-to-open-as-govt-allows-subsidy/



Aiming to make $20 billion atleast these above 100 mills was making $20 billion in PPP era then PMLN came and shut them down by not providing subsidy and making metro. Those china's loan which they have spent on making crap metro train they could provide subsidy on textile mills in term of electricity or LNG but that will not come obvious for their voter to select them so they shut down the textile industry and focus on making metro.

It's very simple why PTI taking loan now because you need money to make money. But common sense is not very common either.

 

[A.A. Khan]

@Jungibaaz

HAhahaha

Your figures are even more hilarious $20 billion in PPP era? When textile industry contracted and moved to Bangladesh and other countries? We did not have 40% electricity at that time and the industrial output went in the negative -4%.

Mostof the textile industry in Faisalabad closed in 2009-2011, and PML-N was not in power.
Rofl even Bangladesh where textile is huge revenue sector its total share is $18-20 billion.

The link you have given please read the article also, the figures they have given is not up to date and before IMF bailout decision. So their would be after-effects of IMF on this sector also

 

[Jungibaaz]

@Jungibaaz

HAhahaha

Your figures are even more hilarious $20 billion in PPP era? When textile industry contracted and moved to Bangladesh and other countries? We did not have 40% electricity at that time and the industrial output went in the negative -4%.

Mostof the textile industry in Faisalabad closed in 2009-2011, and PML-N was not in power.
Rofl even Bangladesh where textile is huge revenue sector its total share is $18-20 billion.

The link you have given please read the article also, the figures they have given is not up to date and before IMF bailout decision. So their would be after-effects of IMF on this sector also

What figures? Put your glasses on, I'm not the one who posted that response above yours.

 

[A.A. Khan]

Aiming to make $20 billion atleast these above 100 mills was making $20 billion in PPP era then PMLN came and shut them down by not providing subsidy and making metro.

 

[ziaulislam]

I am not the one cursing absconder dar for going to IMF bcoz he inherited treasure in bad shape.. I am blaming him for how he used that IMF cushion for artificial success in which you are still struck completly avoiding the consequences of how reserve depleted, decrease in exports, rise in imports, current balance of payement crisis..

And 20 billion exports (15-16) are no target, I expect Pakistan to break the failed PPP's bearers of 25 billion this year. Even Zardari was better then so called experienced team who managed country when oil was 140 per barrel.

exactly..why is it so hard for people to understand this..they understand it if there neighbours who is poor goes and start buying things he cannot afford via bank financing and also stops working and as a result then loss their assets, than blames the misfortune events as new year curse...this is excatly what dar did..

Export grew by 8-10% every year in pppp era as even though gas and electicity was not there but at least when it was it was competitive ..PMLN killed it all together exports dropped for the first time by whopping 25%

While PMLN Also printed money in excess of 800 billon last year

 

[AZ1]

@Jungibaaz

HAhahaha

Your figures are even more hilarious $20 billion in PPP era? When textile industry contracted and moved to Bangladesh and other countries? We did not have 40% electricity at that time and the industrial output went in the negative -4%.

Mostof the textile industry in Faisalabad closed in 2009-2011, and PML-N was not in power.
Rofl even Bangladesh where textile is huge revenue sector its total share is $18-20 billion.

The link you have given please read the article also, the figures they have given is not up to date and before IMF bailout decision. So their would be after-effects of IMF on this sector also

Leave the figures may be right or wrong but main point is you are saying textile was close in PPP and then PMLN did nothing to improve textile leaving PTI in this situation and in the end you blaming PTI for exports? The figure I quoted above is from Imran khan in the speech he did so if 100 textile was close and in 2012 we were making $13 billion we can make $20 billion by allowing 100 textile too.
You said there is no effort anything for improving export this is 2 month old news from PTI.

 

[A.A. Khan]

Export grew by 8-10% every year in pppp era as even though gas and electicity was not there but at least when it was it was competitive ..PMLN killed it all together exports dropped for the first time by whopping 25%

AS you are an IMF guy and support your favorite party which has worked as a great agent for you, can understand your reason.
Please quote exact figures and what did we export. What was Pakistan's export in 2007 and then where was the exports in 2008 upto 2013. Check the graph and see where PML-N despite its issues performed was ahead in exports, and will look even better when PTI somehow stays one year more.

 

[Baghial]

If votes and voting made any difference/ change..
Every govt would have made it illegal...or banned

 

[Max]

I'm not a fan of Dar and have voted against PML-N this election FOR CHANGE, and this is what we have got.

The reserves were also manipulatively depleted within a year when Dar was forced out of the country in 2017. All these issues were quadrupled when our bureaucracy corrupt mafia were handling it same way how they are handling now on oversight of revolutionary PTI.

Rofl you giving credit to Zardari for what? Managing taking more loans and destroying the industry?
Dismantling institutions, beggar BISP program to reward loyalists and voter strategy with support from US introducing the cancer of corruption into bureaucracy which is why we are stuck in this black hole to this day. ZArdari literally allowed IMF invaders to write policies for his govt. damaging Pakistan for the next 20+ years or even more. In return assurance to protect himself. Please google 1994 Zardari electricity policy which has ensured Pakistan suffers from loadshedding for the foreseeable future. 1995 gender rebalance social agenda to push food inflation on such a high that women are forced out to work alongwith men to make ends meet. And they did the same again in 2009 which wiped out 2 trillion capital from the market. 1988 bureaucracy under Gen. Zia was way better, systemic and least corrupt compared to the garbage that exists today thanks to PPP. Beofre doing bakwaas take avisit to Sindh hospitals and see what they've done to the country.

Blah Blah, reserve started depleting under dar. I am giving PeePeePee credit to increase export despite high fuel price. Which Absconder dar who applied for asylum in UK couldn't. I didn't talked PPPS overall governance. So save your bakwas.

exactly..why is it so hard for people to understand this..they understand it if there neighbours who is poor goes and start buying things he cannot afford via bank financing and also stops working and as a result then loss their assets, than blames the misfortune events as new year curse...this is excatly what dar did..

Export grew by 8-10% every year in pppp era as even though gas and electicity was not there but at least when it was it was competitive ..PMLN killed it all together exports dropped for the first time by whopping 25%

While PMLN Also printed money in excess of 800 billon last year

 

[Abdussamad]

Another traitor with his suggestion
Well said, we should decentralize and let US agents cum exchange manipulators rape the rupee as they please and earn great as well. And stop this bs everyone incl. these exchange people did money laundering alongwith politicians.

Dar govt. had embarked upon building physical infrastructure worth $30+ billion from roads to hspitals [e.g. GwadarDA Hospital]
Controlled the food prices and saved them from inflation. PML-N govt. policies helped lower the inflation to 3.4 % benefiting the middle class unlike US agent PPP or PTI gvt. tenures.

They spent borrowed dollars for all this. To keep the rupee overvalued, to build infrastructure and to keep inflation contained. The increased our external debts by 50% in their 5 years! Imagine that if you can.

Fact is we can't afford to keep the rupee overvalued. Everything we import has to be paid for in dollars and since we import more than we export a steady depreciation of the rupee is natural. This steady depreciation makes imports expensive and exports cheaper correcting the imbalance. If you artificially restrict this then you somehow have to arrange dollars to finance your imports which means either attracting foreign investment or increasing your debt burden. Since the country is a pariah state attracting foreign investment is impossible so taking on more debts is the only option. At some point you will find it impossible to service your debts, your forex reserves start running out and you have to do shock devaluation which is what we've seen in 2018.

As for speculators if we had any serious speculators we'd be much better off. Speculators and arbitrageurs would help the rupee find its true value. Unfortunately the market is tightly controlled by the central bank so there is no room for speculators to operate.

Also FYI the US can destroy our economy with just a few keystrokes. It doesn't need our help to do it. Like I said dollars are used for international trade and all such payments go through US banks. Just cut us off from the US banking system and boom! We run out of oil in 2 weeks, there are shortages and riots and the rupee becomes toilet paper.

 

[A.A. Khan]

@Abdussamad

or Samad Kumar, please check the import bill first and see we don't depend or pay in dollars only. Yuan is used in trading esp. for spare parts from China. Dollar is used in oil import but our oil imports reducedas PML-N govt. shifted to LNG and coal.
It is a pariah state only to North America thanks to American agents like you who issue travel advisory and then bark making excuses. REgurgitating textbook selective not mentioning US indiffeence and policies against Pakistan. We don't depend on dollar and US. Your assessment is as though this is the 80s and Pakistan has no other alternative. The world has changed. Many countries are surviving without trading with US.

Rofl Samad Kumar also made an empty threat of US banks cut from Paksitan will finish us off.
If US had such clout then they would'nt have put us in IMF programs to achieve their objectives.

Credit lines from US major banks to Pakistan are suspended since many years.
They also kicked out only Pakistani bank operating Habib Bank in 2017 with a fine of 225 million in 2017.
Things are made more difficult due to FATF greylisting.

But we don't rely on them anymore.
US has reduced its commercial stake since 2007 its only China that has supported us or else they would'nt have waited for us to go to IMF.
US has encouraged corruption in Pakistani Ministries since 90s with IMF role to do just that.

Apna lectures apne paas rakho

 

[Abdussamad]

We don't use yuan at all in trading. There was a lot of hype about it but it never took off. Pakistani traders are not comfortable dealing in yuan.

23% of our imports are for crude oil. See Pakistan export import profile.

Petroleum imports have actually gone up since 2008.

My name is not kumar. I live in Karachi, Pakistan not India. You can see that I registered on this forum long before you did.

 

[A.A. Khan]

We don't use yuan at all in trading. There was a lot of hype about it but it never took off. Pakistani traders are not comfortable dealing in yuan.

23% of our imports are for crude oil. See Pakistan export import profile.

Petroleum imports have actually gone up since 2008.

My name is not kumar. I live in Karachi, Pakistan not India. You can see that I registered on this forum long before you did.

A PAkistani car manufacturer paid for Chinese car parts in Yuan as back as May of this year. Another JVs also paying in Yuan since State Bank introduced the trading.