Saudi help

[dabong1]

Sunday, June 08, 2008
The prime minister, accompanied by five federal ministers and his party chief. Asif Ali Zardari, is in the kingdom of Saudi Arabia, where he will be seeking, indeed begging, for assistance. Pakistan is believed to be set to seek help in the crucial oil, energy, trade and agricultural sectors worth between three and six billion dollars. Wheat is also to be requested. If it is agreed to, this Saudi aid, which optimists in the government believe could include free oil, would act as a lifeline that would give the government a fighting chance of scrambling out of the current economic mess. As such, the Saudi aid would allow the government to grant the relief to the poorest sections of society that it has promised will be a feature of the forthcoming budget.

Under the present circumstances, with the previous government over the years since 2001, when large amounts of aid poured into Pakistan, having squandered the valuable opportunity to make any kind of meaningful progress, this mission seeking Saudi support is understandable. Given the scale of the crisis, there are indeed few options but to seek the benevolence of the Saudis. After all, no 'quick fix' measures are available to tackle the crippling oil and energy crisis, which may soon necessitate a further raise in rates. The government – whose members have perhaps not had time to slip into the fantasy land that eventually becomes the domain of most leaders – can perhaps also see that a failure to offer relief to people may result in them one day taking to the streets, driven by desperation and hunger.

We must therefore hope that the Saudis once more demonstrate the generosity they have shown in the past. But this having been said, what is still more important that Pakistan find means to break its begging bowl and end its reliance on external aid. It must also be remembered that Saudi help will come at a price. According to a report in this paper, this will include an offer to the Kingdom of hundreds of acres of agricultural land that it can cultivate and whose produce it can take home. The giving away of assets thus continues. And of course, the present situation also leaves Pakistan open to the exertion of pressure and to intervention in its policies from other countries.

The need therefore is to initiate an immediate restructuring of the economy so that such reliance is not required in the future. The aim must be, as leading economists have warned, to ensure a better distribution of wealth. Reconfiguring defence and administration spending, devising more effective taxation polices and considering land reforms must all form a part of this strategy. Otherwise even Saudi support may prove insufficient to ward off the social upheaval that many fear lies just around the corner.
Pleas for help

 

[Imran Khan]

saudis are our all wather firends .they will help us again and again

 

[Cheetah786]

saudis are our all wather firends .they will help us again and again

I guess you missed some parts of Article Here let me help ya out.

It must also be remembered that Saudi help will come at a price. According to a report in this paper, this will include an offer to the Kingdom of hundreds of acres of agricultural land that it can cultivate and whose produce it can take home. The giving away of assets thus continues

For God sake people open your freaking eyes.friends dont wait to offer help And they certainly dont offer help with conditions.

Excellent now they go to other countries and beg for money and help i guess this is an excellent long term financial stability programme.
This must have been learned from the beggars on Streets i love looking at this.these sons of bitches promised things to average Joe on the streets they have no idea how to fix the economy so they are selling parts of country small piece at a time.

 

[kidwaibhai]

asinine freaks

 

[Neo]

Nothing comes free, consider this a barter . A win-win situation for both sides.
$2 billion in deffered payments would ease the burden on our oil imports bill.

 

[Neo]

Saudi Arabian special oil facility ​

EDITORIAL (June 07 2008): The government of Pakistan's recent request, through the Ministry of Foreign Affairs, to three oil rich Muslim countries, namely, Saudi Arabia, the United Arab Emirates and Qatar, to extend the special oil facility (SOF) has borne fruit: Saudi Arabia has reportedly agreed to revive the SOF that it was extending to Pakistan in 1988 after Pakistan's decision to carry out the nuclear test.

Many believe that the decision of the Saudi government to extend the facility would go a long way in re-establishing the cordial relations that have historically been enjoyed by the peoples of the two countries - relations that had witnessed a low ebb when Nawaz Sharif was sent back to the Kingdom last year.

Prime Minister Yousuf Raza Gilani is visiting Saudi Arabia to pen the agreement prior to the announcement of the budget, considered a reason for the four-day delay in the presentation of the budget to Parliament - an agreement that would go a long way in providing the government with enough wherewithal to meet some of the serious challenges facing the economy today.

These range from enabling the government to conserve scarce foreign exchange reserves which would provide support to the rupee and enable the government to extend relief to the poorer sections of society through issuing Benazir cards (made possible from a larger than expected revenue pie as a consequence of the SOF) and rationalising the Rs 20 billion subsidy currently paid by the government in view of rising crude oil prices in the international market.

Pakistan imports approximately 250,000 barrels of oil per day from Saudi Arabia, 150,000 from Abu Dhabi, and 18,000 from Qatar. Our consumption of diesel is estimated at 8.5 million tonnes a year, followed by furnace oil (between 4 to 6 million tonnes a year). Saudi Arabia, the UAE and Qatar are currently providing crude oil to Pakistan on deferred payments for 30 days.

During the caretaker government, Kuwait increased this facility to 60 days. But this benefit was no longer adequate, given the extent of the problems facing the economy today. The SOF will extend credit for oil purchases to one year.

It maybe recalled that in response to the nuclear test, the West, led by the United States, had frozen all assistance to Pakistan as well as India (which had carried out the test a few days earlier). It may also be recalled that the decision of the World Bank to arrest all assistance to Pakistan was announced by the US State Department, dispelling the thinly held belief that international financial institutions take decisions independent of the donor countries.

There is considerable antipathy to what is generally regarded as the double standards of the West in terms of dealing with Muslim countries in general and Pakistan in particular.

Only a very small number of countries have remained consistently supportive of Pakistan throughout our short history as a nation, during which we have suffered the trials and tribulations associated with reliance on a recalcitrant West with little compunction to abandon Pakistan when we most needed assistance.The fact that China as well as some Muslim countries, notably Saudi Arabia, have invariably come to our aid speaks volumes of the differences in relations - differences that must be recognised by the newly elected government.

Business Recorder [Pakistan's First Financial Daily]

 

[HAIDER]

What a shame for us. How long we ll live like this. New generation of Saudies graduating from Western institution are so anti about this policy. Economy on muslim world charity. Wonder why arabs don't respect us.

 

[Neo]

Haider, the deal is a barter, there's indeed no dignity in charity.

 

[Spring Onion]

hmmm and i am thinking of another bluff the current government is going to give the people of Pakistan just like Nawaz Sharif did when Pakistan went nuclear.

At that time Saudi Arabia reportedly gave Pakistan free oil for one year and intrestingly according to some inside people the then government had sold the oil to the people of Pakistan and only God knows in who's pockets that money went.
Similarly this time it is expected that PM is going to ask Saudi Arabia for FREE OIL and the same would be sold to the people of Pakistan at high prices owing to the current price-hike of oil
One would wonder again in who's pockets this money will go

 

[HAIDER]

This temporary solution.Adhocism. But recenlty an ariticle publish in local paper ( US.) All rich arab countries are buying land in third world country to fulfill their future food demand. Its already predicted a huge shortage of food is comming in the WORLD.
I wish these people let Mushi breath and complete all gas line projects. And complete all CBM with India in his tenure. This will help alot to Pakistan and built the future. And people should understand the importance of tax too.

 

[Tiki Tam Tam]

This is the goodwill that Nawaz Sharif generated while in Saudi Arabia.

I am sure with the Saudis pumping in money, the agricultural milieu will flourish and in the long run after the Saudis have gone, it will be to Pakistan's benefit.

 

[Cheetah786]

Saudi Arabian special oil facility ​

EDITORIAL (June 07 2008): The government of Pakistan's recent request, through the Ministry of Foreign Affairs, to three oil rich Muslim countries, namely, Saudi Arabia, the United Arab Emirates and Qatar, to extend the special oil facility (SOF) has borne fruit: Saudi Arabia has reportedly agreed to revive the SOF that it was extending to Pakistan in 1988 after Pakistan's decision to carry out the nuclear test.

Many believe that the decision of the Saudi government to extend the facility would go a long way in re-establishing the cordial relations that have historically been enjoyed by the peoples of the two countries - relations that had witnessed a low ebb when Nawaz Sharif was sent back to the Kingdom last year.

Prime Minister Yousuf Raza Gilani is visiting Saudi Arabia to pen the agreement prior to the announcement of the budget, considered a reason for the four-day delay in the presentation of the budget to Parliament - an agreement that would go a long way in providing the government with enough wherewithal to meet some of the serious challenges facing the economy today.

These range from enabling the government to conserve scarce foreign exchange reserves which would provide support to the rupee and enable the government to extend relief to the poorer sections of society through issuing Benazir cards (made possible from a larger than expected revenue pie as a consequence of the SOF) and rationalising the Rs 20 billion subsidy currently paid by the government in view of rising crude oil prices in the international market.

Pakistan imports approximately 250,000 barrels of oil per day from Saudi Arabia, 150,000 from Abu Dhabi, and 18,000 from Qatar. Our consumption of diesel is estimated at 8.5 million tonnes a year, followed by furnace oil (between 4 to 6 million tonnes a year). Saudi Arabia, the UAE and Qatar are currently providing crude oil to Pakistan on deferred payments for 30 days.

During the caretaker government, Kuwait increased this facility to 60 days. But this benefit was no longer adequate, given the extent of the problems facing the economy today. The SOF will extend credit for oil purchases to one year.

It maybe recalled that in response to the nuclear test, the West, led by the United States, had frozen all assistance to Pakistan as well as India (which had carried out the test a few days earlier). It may also be recalled that the decision of the World Bank to arrest all assistance to Pakistan was announced by the US State Department, dispelling the thinly held belief that international financial institutions take decisions independent of the donor countries.

There is considerable antipathy to what is generally regarded as the double standards of the West in terms of dealing with Muslim countries in general and Pakistan in particular.

Only a very small number of countries have remained consistently supportive of Pakistan throughout our short history as a nation, during which we have suffered the trials and tribulations associated with reliance on a recalcitrant West with little compunction to abandon Pakistan when we most needed assistance.The fact that China as well as some Muslim countries, notably Saudi Arabia, have invariably come to our aid speaks volumes of the differences in relations - differences that must be recognised by the newly elected government.

Business Recorder [Pakistan's First Financial Daily]

Pay now pay later you still pay what i cant understand is simple why why why are the subsidizing oil for people let the markets dictate the price wanna offer a relief to people send low income people monthly checks granting every Pakistani file income taxes.
If a person can afford to pay 200% duty to import a foreign built car he or she can afford to pay the fair price at the pump.for some insane reason poor governments offer programmers and subsidize they cant afford.This is yesterdays policy Pakistan no longer can afford privatize the oil industry tax it to collect revenue just like normal countries do.we can no longer afford crown corporations that cost us money every year even being Monopolized.

Oil prices are here to stay and not about to go down any time soon or in the near future begging for deferred payments don't mean jack all in the long run.

Pakistan government must cut its cost regardless of what it takes instead of spending money on crown corporations they should concentrate on paying down the national debt.which in return will save billions/yr we pay in interest payments and in return will bring in investors as they see stabilize financial situation.and thats the only way out we can no longer put this off.
If all no about the wests double standard begging and continuing on the same path is not going to change that policy.

Railway losing money(i remember use to pre book to get a seat 15 to 20 days in advance at the end of the year this loses money)
Wapda losing money (funny they don't have enough power to satisfy the demand yet they lose money)
PIA losing money.(loss cause)
PSO losing money.(Western governments makes billions from private corporations)

These are the top ones losing money yet they are all MONOPOLIZED.
HOW ?

 

[HAIDER]

100 percent agreed with Chitah, let market forces dictate the economy. Otherwise artificial price fixing with disaster sooner or later.

 

[Neo]

This temporary solution.Adhocism. But recenlty an ariticle publish in local paper ( US.) All rich arab countries are buying land in third world country to fulfill their future food demand. Its already predicted a huge shortage of food is comming in the WORLD.
I wish these people let Mushi breath and complete all gas line projects. And complete all CBM with India in his tenure. This will help alot to Pakistan and built the future. And people should understand the importance of tax too.

I second that!

 

[Neo]

This is the goodwill that Nawaz Sharif generated while in Saudi Arabia.

I am sure with the Saudis pumping in money, the agricultural milieu will flourish and in the long run after the Saudis have gone, it will be to Pakistan's benefit.

Exactly, its a win-win situation for both countries.
We're belessed with arable land water, millions of acres of barren land can be coverted into arabale land with investement from Arab countries and employ thousands of Pakistani farmers.