PM Nawaz Sharif turns around Pakistani Economy

[Established_1965]

Hope it brings growth and prosperity to Pakistan so that i could visit it without any fear of terrorism

 

[A1Kaid]

Moody’s Raises Pakistan Outlook as Economy Improves Under Sharif - Bloomberg Business

 

[WishLivePak]

Moody’s Raises Pakistan Outlook as Economy Improves Under Sharif - Bloomberg Business

As we transition into next gov't peacefully, expect our rating to go up one or two notches!

 

[Muhammad Omar]

Pakistan is so dirty, why can't they just spend a bit money on cleaning up.

they made Lahore Multan Faisalabad Multan Rawalpindi Sialkot Waste management company... bought equipment from japan and turkey and gave the contract to turkey to clean the cities watch infrastructure development thread Many universities are under construction and hospitals to Like in R Y Khan.. Faisalabad Bahawalpur Wazirabad Urology center in Rawalpindi Medical universities in southern Punjab

 

[abbasalai]

good jock

 

[Muhammad Omar]

good jock

Jock ni hota joke hota hai School jao dobara

 

[ajpirzada]

where is the turn around? has the growth rate in manufacturing sector increased? has the circular debt issue constraining the energy sector been resolved? has the tax-to-GDP ratio increased? has the investment-to-GDP ratio increased?

Let me make is easier:

Output (GDP) = Consumption + Investment + GovernmentSpending + (Exports - Imports)

Which of this has gone up (by significantly more than last year) that I be convinced PMLN has achieved a turn around? At the same time, Government has revised her allocation for the development spending (PSDP) downwards and asked the provinces to do the same (meaning come up with cash surplus at the end of the fiscal year).

reserves are better because of heavy borrowing from international markets. In the absence of increase in foreign investment or increase in exports of goods and services, there is little reason to feel comfortable as far as our reserves are concerned. When time comes to pay back the IMF loan, we will be in the same crisis as we were at the end of the PPP rule.

The only goodluck factor PMLN might enjoy is if the oil prices stay where they are for the next 2 years. Likewise fall in inflation is not an achievement but a blessing.

 

[Winchester]

Tax reforms: These are step by step procedures. The tax net is growing since these guys came in and the growth is significant. They are launching key changes soon so the tax net should further increase by many billions.

BUT, to take the tax net to where a modern country should be, you have to have people earning like a modern country too. Average Pakistani salary is $ 3100.00 (I think this was for 2013 or 2014 per the CIA's fact book). So how much tax do you expect from so little per year income?

The tax net is not growing as the country needs it to be
The governments own FSP report 2013/14 states that there has been an overall slowdown in tax revenue growth
No one is saying that all 180 million people in Pakistan have the financial muscle to pay direct taxes
But the government needs to tap into the huge trader class as well as wealthy farmers
Since these two segments form the backbone of Nawaz Sharif's support base that is very very unlikely to happen

Never in the history of Pakistan has anyone investment $ 10 billion at a time. You have confirmed investments for over $ 100 billion. That's A lot of money and can help Pakistan create millions of jobs and billions in additional revenue and taxes.

Yes just like the confirmed investment during Zardari's time of about $ 45 bn

Or the confirmed investment in Gaddani Power Plant that was this governments flagship power project early in the tenure

In 2013
Nawaz directs immediate construction of Gadani, Port Qasim power plants - The Express Tribune

and now in 2015

Federal govt all set to abandon flagship 6,600MW Gadani Coal Power projects

Pakistan has about $ 16 Billion in her checking account, which has never happened in the history before.

Wrong it happened during Musharraf's time

Billions have been poured into supporting the military's operations, advancing security apparatus across the country, buying new, advance weapons and all. Ordering 8 new submarines, buying more AWACS, building JFT, JV'ing Z series heli's, looking into more advanced jets ALL at once......when in the ENTIRE history of Pakistan, has ANY government been able to do so many defense procurements in ONE term. 8 New Submarines ......ALONE is a huge deal, add Frigate JV's, Jet JV's Heli JV's, etc,etc. Where do you think the money is coming from? Its coming from the revenue that the Federal gov't has generated.

Pakistan's defense budget is around $ 7 bn

During the PPP's last year it was around $ 5.5 bn so the raise has been standard nothing extraordinary

Also with the operations the largest counter-terror operation was carried out in Swat in 2009 and similarly throughout Musharraf's time so its not as if he faces a unique situation

They don't have American or British loyalties like IK or Mullah or Zardari do. Their generations lived and are living in Pakistan.

LOL....Unless the mega million dollar apartments surrounding Hyde Park have been claimed by Pakistan as its territory or Nawaz Sharif has disowned Hussain Nawaz
.
.
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Finally Nawaz Sharif is better than PPP but what Pakistan needs if it wants to be a healthy economy is to balance its budget on its own
That can be done by number one increasing the revenue stream i.e taxation
As i said this government doesn't look like it has the political will to do so

The second thing is privatizing those white elephants like the Steel Mills and P.I.A
I will grant that he is serious about it and hopefully he will be able to pull that off

 

[OrionHunter]

You really should read this since you seem to be so misinformed and saying Pakistan does not have any money for recent defense deals.

With new economic growth and new tax policies. It should not come as a surprise that Pakistan could reach a GDP nominal of $500+ billion and per capita income is more than doubled if PM Nawaz Shari is re-elected and serves a total of 10 years. PML-N has brought much needed economic recovery and stability in Pakistan.

Also, KSE is one of the best performing stock markets in the world right now. Inflation CPI is also down to 2.5%, that is the lowest in 13 years.

Though this is good news for Pakistan, the gazillion or so Nawaz bashers on PDF are gonna be pissed!

 

[root]

I think he is doing better compared to leaders of past ofcourse it will take some time to clear the mess of past.

 

[SipahSalar]

This is no achievement by any means. The rate at which Pakistan's economy is improving would have been possible even if a kitten was Pakistan's PM. As long as the government is not excessively corrupt, economy will improve considering the potential in Pakistan's economy.
N-League wants to improve tax collection, by how much? They aim to bring it up to just 15%! As long as they don't make every Pakistani pay tax, nothing will improve.

By the way this is a repost. Secondly posts title has been changed from original article, which is against PDF rules.

 

[Psychic]

Yes PMLN has done great work on macro economic issues.

But they are not doing anything to bring up the standard of living or quality of surroundings. Everything being done is for benefit of business owners and tycoons.

Where is focus on education, healthcare and sanitation? Pakistan is so dirty, why can't they just spend a bit money on cleaning up.

Talking about dirt and garbage, the govt is trying to do something about it believe me.
I live in Pindi and govt has given a contract to a Turk company to sort out the garbage and mess and I see alot of difference.
Places where there were heaps of garbage are now clean and places where you had to cover your nose while passing through are shining now.
They have also set up garbage canisters along every street and the sweepers are very active in sweeping the roads of dirt and litter.
All this is totally free......
I don't know about the scope of the project but it is a good start anyways.

 

[A1Kaid]

Though this is good news for Pakistan, the gazillion or so Nawaz bashers on PDF are gonna be pissed!

Isn't it also good news for you guys too? I thought you guys wanted a stable and economically prosperous Pakistan?

 

[Sunan]

This is good for Pakistan

 

[OrionHunter]

Isn't it also good news for you guys too? I thought you guys wanted a stable and economically prosperous Pakistan?

Right! We want trade to flourish between our two countries. But guess who's playing spoilsport?

Oh wait! You don't need to be a rocket scientist to figure that out!