PML-N plans to take $12.53bn loan until June 2018

[notorious_eagle]

Reminds me of this video listed below hhaha.

Before the election Nawaz Sharif was boasting how his Government would never take any loans. But look at the results, he has made Pakistan into a begging bowl. Most of these loans will be swindled off in corruption and kickbacks, and than Pakistani taxpayer will be left to pay of the loans like he did in 1999. All major contracts such as the LNG and Highways for CPEC given to Hazrat Saif Ur Rehman. Corruption all the way.

Getting loan is not bad thing, it happens in whole world but we should put some limit on it. We are taking record amount of loans

Taking loans is not a bad thing if you increase the tax base and invest the loans in infrastructure. Unfortunately in our case the loans are being swindled off in the face of kickbacks and corruption.

 

[Flash_Ninja]

You mean Pakistan is 3rd world country? N or for that matter even PTI farishtay can't change this reality in few years.

I agree, but we at least need to get on the track to some kind of development. look at countries like China and South Korea, in the past they were just like Pakistan economically, yet within 25 years they were able to make themselves the leading economies of the world.

But we neither can afford another 5 years of corruption and little development and all time high terrorism.

Yes, Development has come out of reduced militancy, and reduced militancy has been solely due to the military, PMLN has done nothing and in some cases even compromised national security over petty things (refusal of Punjab Op.).

Can you tell me even one thing that PMLN alone did to combat terrorism?

TTP would have opened office in Islamabad if PTI had won.

Thats an idiotic statement. Thats like if i said that PMLN are Indian stooges because of their lack of foreign policy, and silence on Indian aggression in Kashmir.

Its a fact every political party develop areas where they win, every province get share in budget to spend where they see fit.

Yes and look at what PML did with Federal government, Punjab, and Balochistan. At least in KPK, improvements in education and policing are clearly visible, that too with a limited budget.

Look what PPP have done to Karachi or PTI to hazara division in KPK. At least major punjab projects like metro bus, safe city, saaf pani etc doesn't stay in Lahore only.

Look at what PMl has done to all of Pakistan.

Shahbaz has done an alright job in Punjab, but what has the federal govt. done about the rest of Pakistan?

Look at foreign policy, Indians and their vassal states Afghanistan and Bangladesh to go around spouting bullshit.

Look at the economy, debt and stagnation.

Look at education, healthcare, law & order, very minor improvements and nothing substantial. Also lets not forget how Nawaz and Shahbaz have so little faith in Pakistani doctors, that they run off to London every time they get ill.

Pakistan deserves better than these idiots in power who care for nothing but their own wealth and political power.

 

[Kabira]

I agree, but we at least need to get on the track to some kind of development. look at countries like China and South Korea, in the past they were just like Pakistan economically, yet within 25 years they were able to make themselves the leading economies of the world.

Yes, Development has come out of reduced militancy, and reduced militancy has been solely due to the military, PMLN has done nothing and in some cases even compromised national security over petty things (refusal of Punjab Op.).

Can you tell me even one thing that PMLN alone did to combat terrorism?

Credit goes to ruling party for being behind military, we all know position of Imran Khan on TTP in general.

Thats an idiotic statement. Thats like if i said that PMLN are Indian stooges because of their lack of foreign policy, and silence on Indian aggression in Kashmir.

Yes and look at what PML did with Federal government, Punjab, and Balochistan. At least in KPK, improvements in education and policing are clearly visible, that too with a limited budget.

Shahbaz has done an alright job in Punjab, but what has the federal govt. done about the rest of Pakistan?

Look at what PMl has done to all of Pakistan.

Most of budget is divided between provinces and federal states (ISB, FATA, G-B,AJK). Only 35% or 40% is left, from that army take at least half of it if not more. From federal development budget they have build Karachi metro bus which actually should have been funded by Sindh government. They have initiated many projects in Balochistan. Finally brought land for Bhasha dam and many other such projects all over Pakistan. Apart from army, major chunk of budget goes to loans.

One need to ask PPP what they have done in Sindh and Karachi, not Shahbaz Sharif. Federal development budget isn't that much.

Look at foreign policy, Indians and their vassal states Afghanistan and Bangladesh to go around spouting bullshit.

Look at the economy, debt and stagnation.

Look at education, healthcare, law & order, very minor improvements and nothing substantial. Also lets not forget how Nawaz and Shahbaz have so little faith in Pakistani doctors, that they run off to London every time they get ill.

Pakistan deserves better than these idiots in power who care for nothing but their own wealth and political power.

Indians and Afghanis have been doing that since 1947, why blame N in which they have no control over?

 

[Path-Finder]

That makes you a perfect candidate. I wonder why brits never hired you instead of hammond, maybe because they fear that such an appointment would rebrand the title "Chancellor of Exchequer" into "Ch***** of Exchequer".

defending their kartoot is the best you will ever achieve in life!!!

 

[Flash_Ninja]

Credit goes to ruling party for being behind military, we all know position of Imran Khan on TTP in general.

No, PMLN has done nothing, even the so called National Action Plan is just a farce, and the civillian government has taken very limited action towards peace in pakistan.

Most of budget is divided between provinces and federal states (ISB, FATA, G-B,AJK). Only 35% or 40% is left, from that army take at least half of it if not more. From federal development budget they have build Karachi metro bus which actually should have been funded by Sindh government. They have initiated many projects in Balochistan. Finally brought land for Bhasha dam and many other such projects all over Pakistan. Apart from army, major chunk of budget goes to loans.

Theres more to governancethan just projects, the federal government has so many ministries, yet I have heard very little amount of progress coming out of them.

Look at PMLN 2013 manifesto. What have they actually achieved?

http://www.pmo.gov.pk/documents/manifesto.pdf

Just incompetence from nearly every government ministry, and almost zero foreign policy which is one of the primary routes of investment into the country.

One need to ask PPP what they have done in Sindh and Karachi, not Shahbaz Sharif. Federal development budget isn't that much.

PPP is worse, I agree, and as i said, what has the federal government done for the rest of Pakistan? There is more to governance than just budget, and there is also the fact that the allocations in that budget are usually stupid and go to wasteful programs/projects, as well as the countless billions lost in corruption.

In corruption we are ranked 117/168
In ease of doing business we are ranked 144/190
In ease of starting a business we are ranked 141/190
in HDI our ranking has dropped 14 places to 147/188 (lower than Congo, Nepal, and Kenya)

All of these are within the scope of the federal government, but what has actually been done?

Don't give me bullshit about how PML is poor and helpless, no country on earth would ever develop if this was the case. Laws can still be made and implemented by PML since they control the ruling govt. All provincial governments are still under the federal government in the hierarchy.

Indians and Afghanis have been doing that since 1947, why blame N in which they have no control over?

Yes, but now they are getting more and more bold. They are admitting to openly supporting terrorists in Baluchistan, and the TTP. Bangladesh a few months ago was accusing us of supporting terrorists in their country, and more recently Modi is openly threatening to cut water flowing into Pakistan.

What is the govt. response?

 

[cleverrider]

Hopefully N win again because we don't want to see combination of corrupt to the core PPP/ANP 2008-2013 era ever again ruining federal entities like railways, PIA etc while punjabis end up paying it for rest of the country. They have already ruined Karachi but will not be allowed to ruin punjab again.

You meant the corruption combination of Kiyani and Zardari?People with average minds have no sharaam, thats what you did when you spent all the money on islammabad and gave literally nothing to the bengalis.Just low skilled labour and then went on your knees in 90K+ numbers.

 

[SBD-3]

defending their kartoot is the best you will ever achieve in life!!!

Its economics and pretty much everywhere. Now go and join some school to get educated.

 

[Path-Finder]

Its economics and pretty much everywhere. Now go and join some school to get educated.

what school did isshaq dollar go to the greatest munshi voted by IMF?

 

[SBD-3]

what school did isshaq dollar go to the greatest munshi voted by IMF?

I suggest you go to LSE and see if they run any programs for mental retards or illitrates. But they cost a lot of money, money that apparently maybe beyond you for now. Because you can at most reach the think tank here by such idiotic posts, nothing beyond that in real world

 

[Path-Finder]

I suggest you go to LSE and see if they run any programs for mental retards or illitrates. But they cost a lot of money, money that apparently maybe beyond you for now.

is that where issaq dollar went? did they teach money laundering as well?

 

[SBD-3]

is that where issaq dollar went? did they teach money laundering as well?

You can try....

 

[PakSword]

thanks at least you made more sense. Is it true that national buildings are being mortgaged for more loans?

I don't know about the buildings. What we all know is that national assets are on sale, such as PIA, Steel Mills etc etc.. Once these assets were earning revenues for us, now they are gradually destroyed to the point that nothing other than privatization seems to be a solution.

Because of the brain drain, Pakistan is left with few intelligent and qualified people. That cream also works for non government organizations because it is not in the interest of government to hire them as most of them hate corrupt practices. Government officials and parliamentarians, with the only objective of increasing their own assets when in government, need the corrupt people under them for support. This situation leads to the unfavorable policies and failed projects. We have countless examples of projects (such as Nandipur power project), which proved to be as sinkholes that have swallowed all the money and didn't give anything back. But yes, they surely filled the pockets of few parliamentarians, their family members and bureaucrats.

Our governments have not done anything to strengthen the local industry. Many industries are being closed and the investment is being transferred to countries where they can do business with ease and without getting involved in corrupt practices. This is leading to the increase in current account deficit because people have started importing more. Some of the figures related to current account deficit are provided below:


2010 - 11 = Rs 1.31 Trillion
2011 - 12 = Rs 1.88 Trillion
2012 - 13 = Rs 1.97 Trillion
2013 - 14 = Rs 2.03 Trillion
2014 - 15 = Rs 2.25 Trillion
2015 - 16 = Rs 2.64 Trillion

Now just look at the figures of last two years. This is the result of an "experienced" team by PML(N). Imagine if the oil prices were at the same same as in 2014-15, the figures would have crossed Rs. 3 Trillion.

In such a devastating scenario, overseas Pakistanis are playing a vital role. However, their remittances are also decreasing due to decrease in confidence on current government. Overseas Pakistani workers remitted US $7874.49 million in first five months (July to November) of FY17, compared with US $8072.21 million received during the same period in the preceding year.

Now the only way out is to take more loan to narrow the gap in balance of payments. Some loans come with a grace period but with higher interest rates. These loans support the economy for a short time (until the first installments are due). Pakistan has unfortunately done the same, when it took loans with grace periods that will expire in 2018. If by that time, oil prices increase as well, only God knows what will happen. Our experienced team is relying on CPEC more than it should.

what school did isshaq dollar go to the greatest munshi voted by IMF?

Top five countries from where most of the remittances come:

1 - Saudi Arabia
2 - UAE
3 - USA
4 - UK
5 - Other GCC countries

My friend, we overseas Pakistanis are doing what we can.. So never mind the ignorant rants on this forum...

 

[Musketeeer]

No, you prove that we are not taking record amount of loans. Prove your statements with factual figure with Past.
It's you are in government

We shouldn't be taking it in first place coz the amount of resources we have . Plus the loan is re invested outside the countries to buy properties.

.
Record amount of loans ?

Pakistan had 61 Billion dollar external debt in 2012.
57 billion dollar debt in 2010.
45 billion dollar in 2008

Pmln took 11 billion dollar loan in last 3 and half years and returned 10.7 billion dollar back to IMF.

(KARACHI: Pakistan paid $5.3 billion in debt servicing during the fiscal year 2015-16, the State Bank of Pakistan (SBP) said on Thursday, as compared to $5.417bn in the preceding fiscal year) - Dawn

Loan hype given by media is not the fault of pmln, but of previous govts.

External debts of different countries.
US- 19600 Billion Dollar
UK- 9591 Billion Dollar
France- 5750 Billion Dollar
Germany- 5546 Billion Dollar
Luxemburg- 3472 Billion Dollar
Italy- 2651 Billion Dollar
Australia-1391 Billion Dollar
Purtugal- 548 Billion Dollar
India 485 Billion Dollar
Brazil 423 Billion Dollar
Turkey 405 Billion Dollar
Greece 360 Billion Dollar
Ireland 263 Billion Dollar
Ukrane 142 Billion Dollar

---Pakistan 72 Billion Dollar---

(To Confirm, search these countries external debt separately and you will find many links to prove these statistics right.)

Do you see where is Pakistan as compared to successful and failed countries in terms of record amount of loans?

Pakistan should take more loans and get its industry into shape. Every business is run with finance and no one could have become a billionaire without taking loans or doing corruption.

So plz stop this event-less narrative of loans.

There is almost 150 billion investment expected in second phase of CPEC and it is going to get industry into shape. Some of it could be loans which is what we need.

 

[PakSword]

.
Record amount of loans ?

Pakistan had 61 Billion dollar external debt in 2012.
57 billion dollar debt in 2010.
45 billion dollar in 2008

Pmln took 11 billion dollar loan in last 3 and half years and returned 10.7 billion dollar back to IMF.

(KARACHI: Pakistan paid $5.3 billion in debt servicing during the fiscal year 2015-16, the State Bank of Pakistan (SBP) said on Thursday, as compared to $5.417bn in the preceding fiscal year) - Dawn

ISLAMABAD (20-Oct-2016)

In its three-year stint, the PML-N government has obtained $25 billion as fresh foreign loans in addition to borrowing Rs3.1 trillion ($30 billion) from the domestic market for budget financing, said Ehtesham Rashid, Director General of the Debt Office at the Ministry of Finance Wednesday.

In dollar terms, the government’s total domestic and foreign borrowings amounted to $55 billion during the last three years. However, the impact of domestic borrowing is not as adverse as that of foreign borrowings due to the liberty of printing rupee amid inflation that remains under control.

Out of the $25 billion in foreign loans the government has obtained from June 2013 to June 2016, an amount of $11.95 billion was spent in repayment of previous loans, said Rashid.

اسے کہتے ھیں نئے قرضے لیکر پرانے قرضے چکانا اور کھوتے جیسی عقل والی عوام کو 'چ' بنانا ​

 

[Tameem]

http://tribune.com.pk/story/1203863/external-debt-three-years-pakistan-taken-25b-fresh-loans/
Out of the $25 billion in foreign loans the government has obtained from June 2013 to June 2016, an amount of $11.95 billion was spent in repayment of previous loans, said Rashid.

اسے کہتے ھیں نئے قرضے لیکر پرانے قرضے چکانا اور کھوتے جیسی عقل والی عوام کو 'چ' بنانا ​

And from the rest accumulates foreign Reserves

in June 2013 Foreign Reserves = 6-7 Billion Dollar
Now in June 2016 Foreign Reserves = 23-24 Billion Dollar

http://www.tradingeconomics.com/pakistan/foreign-exchange-reserves