Who's looking after the economy?

[AZ1]

Who said people wanted this? The government is responsible for the welfare of the state, not the people.

I do support that we should have joined the Yemen war for economic benefits and militant equipment procurement. At the end of the day Who gives shit whether we are against sunni or Shia if we don't have money. There's serious issue with our policies. The only thing we should give a shit about is our bank balance.

People always wanted this subsidy life, everything subsidize while paying no tax.

You cant and shouldnt expect mircales.

 

[313ghazi]

Honest people in Pakistan (commoners like me) brought Imran Khan to power to introduce reforms in this country and address corruption in view of his accomplishments in life. You discredited the entire nation in your statements here.

PTI-led GOP wasn't perfect either. Many of the older faces are nowhere to be seen and Khan is surrounded by hawks and opportunists. Most of the political jurnos are hawks as well.

PTI-led GOP have made some mistakes. But nobody pays heed to Public intellectuals in circles of power and media.

When I posted some facts in one of the threads, one member responded "Ghaas Khaa Lo Saab."

WE tried, bro.



See above.

People have protested over issues such as lack of clean drinking waters, powercuts, inflation and vice versa.

Pakistanis protest against increasing power cuts during Ramadan

Protesters in Pakistan's largest city set tires ablaze on Tuesday after power cuts disrupted a traditional pre-dawn meal during the holy month of Ramadan, police said, a day after two protesters in another city were shot dead.

www.reuters.com

Protests held against ‘acute’ scarcity in parts of province

SUKKUR: Towns’ residents and growers staged protests in parts of Sindh on Saturday in protest against acute...

www.dawn.com

Citizens protest against gas outages | The Express Tribune

Protestors demand of authorities to ensure provision of basic necessities

tribune.com.pk

Pakistan: Protest held in Khyber Pakhtunkhwa against hours-long power load-shedding

Islamabad [Pakistan], February 1 (ANI): Thousands of people gathered in Pakistan's Khyber Pakhtunkhwa province to protest against the hours-long electricity load-shedding and dereliction of duty by the staff of Peshawar Electric Supply Company at Gandheri area in Nowshera district.

www.aninews.in

Loadshedding protests continue across Punjab | The Express Tribune

Gilani takes notice of prolonged electricity outages, summons petroleum minister.

tribune.com.pk

These protests are easily forgotten.

I don't blame the common man, the system is setup against them. You're hamstrung by the fuedals, the other elite and the 50% illiterate who will vote as they're told. This is true for even the literate folk.

What I don't appreciate is how in this thread overseas Pakistanis are to blame.

I support PTI and most overseas Pakistanis overwhelmingly support PTI.

It's because in our lifetimes PTI is the only thing that has resembled the governments of the successful States we live in. It's the only one that has given us hope of one day being able to come back home.

 

[GOAT]

I'm not trying to blame PTI or Imran for what is said. Just making an observation of how I've been misled of Pakistan's macro economic situation based on threads here. Until recently, I've only been reading that exports and remittances are at an historic high. So I naturally assumed that forex must be better than it was during tough times. But shocking to see that there are only two months worth of reserves left despite the successes.

I understand the external economic challenges that are faced by developing countries well. I follow Indian economy closely and there are lot of things to unhappy about for India. This is not my point.

The drop in Forex reserves is due to a repayment of a Chinese loan which has since been rolled over so you will see the reserves increasing by ~$2 billion soon. Overall the current account balance (and by extension reserves) was headed in the right direction just before Russia invaded Ukraine in February which sent oil prices skyrocketing. If we were to remove the oil price shock I would bet Pakistan would have a small current account surplus and would actually grow the reserves (exports are at an all time high and expected to grow). The macroeconomic situation has certainly become much more challenging since Russia’s invasion but hopefully the oil price shock is transitory.

To be clear, the currant account balance situation has not deteriorated because of economic mismanagement, but rather external factors. The Pak government will have to get creative to address this challenge head on.

Pakistan's foreign exchange reserves fall to lowest level since Oct 2020

Foreign exchange reserves held by the SBP declined by 19.48% on a weekly basis. SBP says this decline reflects repayment of external debt. Meanwhile, total reserves drop to its lowest level since June 26,...

www.geo.tv

 

[Ssan]

The economic situation is critical. PTI supporter have been painting a rosy picture by saying exports have increased and we are increasing tax collection to pay for the subsidy.

They just pulled a dar move on the economy and the next incoming months will butcher people.

One can personally disagree with the subsidies but the current account problem was actually the worst in the last 6 month of 2021- in 2022, the imports have been largely controlled - current account deficit was slashed in the first two months of this year

 

[Wood]

The drop in Forex reserves is due to a repayment of a Chinese loan which has since been rolled over so you will see the reserves increasing by ~$2 billion soon. Overall the current account balance (and by extension reserves) was headed in the right direction just before Russia invaded Ukraine in February which sent oil prices skyrocketing. If we were to remove the oil price shock I would bet Pakistan would have a small current account surplus and would actually grow the reserves (exports are at an all time high and expected to grow). The macroeconomic situation has certainly become much more challenging since Russia’s invasion but hopefully the oil price shock is transitory.

To be clear, the currant account balance situation has not deteriorated because of economic mismanagement, but rather external factors. The Pak government will have to get creative to address this challenge head on.

Pakistan's foreign exchange reserves fall to lowest level since Oct 2020

Foreign exchange reserves held by the SBP declined by 19.48% on a weekly basis. SBP says this decline reflects repayment of external debt. Meanwhile, total reserves drop to its lowest level since June 26,...

www.geo.tv

The Russian invasion of Ukraine is a disaster for India as well. Post-Covid rebound is not on any headlines anymore. I find it appalling that many people here are celebrating this tragic development instead. But that is a conversation for different thread

 

[Ssan]

One can personally disagree with the subsidies but the current account problem was actually the worst in the last 6 month of 2021- in 2022, the imports have been largely controlled - current account deficit was slashed in the first two months of this year

The other thing to remember is that with a free floating rupee- the value of the rupee falling takes care of a significant bit of the issue- assuming that this is a transitory supply shock due to Russia Ukraine war

 

[hussain0216]

South Asia is a shithole India is a shit hole, Bangladesh is a shithole and so is Pakistan

But do you know why Bangladesh is stable?

Because it's essentially a dictatorship, a single leader and party that has completely subverted democracy, the law, constitution etc

But regardless Bangladesh got political and economic stability

The ability to implement Long term economic policies, reforms and plans and stopping the jahil awam from getting involved and fcuking everything up with their patwarism or jiyalism

Even PTI isn't perfect, but a honest IK is better than the same corrupt inept lanats like bhuttos and sharifs

Amendment 18 has disabled the state, the state hardly has any money for programs



The government has a wafer thin majority full of lotas and a opposition constantly at their throats



I'm not sure what you geniuses want?????




Get stability in the country for fcuks sake

MQM are trash but you will vote for mqm

PPP have made Sindh into somalia but you will vote for PPP

Ethnocentric extremism has ripped afghans apart, but ANP is still here

That bald bastard Nawaz is sitting in London and his patwaris creating multiple problems in Pakistan



If Pakistani want change then give PTI a thumping majority then sit back for 10 years


Pakistani have a chance in a few months, let's see what happens

 

[Ssan]

The other thing to remember is that with a free floating rupee- the value of the rupee falling takes care of a significant bit of the issue- assuming that this is a transitory supply shock due to Russia Ukraine war

Look at the balance of trade here for example - https://tradingeconomics.com/pakistan/balance-of-trade

It was a problem end of 2021 but this govt unlike pmln govt took care of a significant portion of it - look at first three months of this year.

 

[DocEinstein]

Unfortunately people are busy following their cults and the economy is on autopilot about to crash.

As of today:
Rupee touched 185
Foreign reserves stand at 11billion dollars
We have two months of import cover
PTI continues to subsidize petrol, which is darconomics.
IK was rallying for protest and sit ins against opposition while the economy is obliterated.
IMF program is in a strange position.

I am genuinely confused on why everyone's busy In politics when the most important thing is being neglected.

On top of all this overseas champions will shove it In our face that we deserve this because we elected choors, while sending remittances worth billion to buy property driving real estate sector inflation. Overseas pakistanis are rejoicing, they are the most self serving devoid of morality individuals this country has ever seen.

At the end of the day a common chap will crumble under inflation and won't be able to buy a house, ghalti hai hi hamari.

Last 4 months of economic mismanagement fall on PTI. They're placing us on a collision course.

https://twitter.com/x/status/1511255147892072449

https://twitter.com/x/status/1510956152158367745

https://twitter.com/x/status/1510954257352171527

https://twitter.com/x/status/1510998344616796164

Hmmmmm you don't have any clue what you speak of, do you ?
I come to Pakistan every year and I don't have to look far beyond my family/ cousins and then I look at your statement.........

 

[AZ1]

یواےای کا پاکستان کو بڑا ریلیف، پاکستان کو قرض واپسی ایک سال کیلئے مؤخر​

 

[FuturePAF]

Bruv you don't have political stability in Pakistan

Pakistani people are to blame, you give endless loyalty to crooks who then create endless fassad in the pursuit of power and greed


The people are jahils and don't understand that democracy gives them the ability to change politicians and governments and hold those politicians who don't perform to be removed




You vote for crooks and lotas and dynasties on a endless basis, giving loyalty like they are your masters and then when those crooks create weak governments because the Pakistani people won't give majorities to honest politicians


If no government can complete it's term and the Pakistani people refuse to remove crooks and give them their votes endlessly how exactly do you think the economy will improve long term economic plans to be put in place




We said this before Pakistani people have to accept austerity and a few years of very tough economic conditions and give the government space and time to bring change and not let crooks get in the way to forces subsidies

But the government will only be able to make austerity (and cuts to subsidies) palatable if they can get a large amount of FDI (at least 3-5% of GDP annually for at least 5 years) to outgrow the debt and get ahead of the rising cost of commodities.

If they can come up with a plan that will attract $10-20 Billion from overseas and local investors for real development over the course of the next year, and repeat that amount year after year for the next 5 years, the country can bear the austerity because they will know there is a plan. That is the scale of investments PTI needs to plan to attract. Concessions to investors may have to be severe but its the only way to get the country to a point where it doesn’t need to think about an IMF bailout with the attached requirements on the government.

P.s. this is about investments not loans (especially it high interest loans) to the government and state owned enterprises.

Second P.s. there needs to be a mechanism in the caretaker government to ensure proper management of the economy. I hope IK and his team are putting plans in place between now and the elections.

 

[hydrabadi_arab]

The Russian invasion of Ukraine is a disaster for India as well. Post-Covid rebound is not on any headlines anymore. I find it appalling that many people here are celebrating this tragic development instead. But that is a conversation for different thread

But Modi/BJP is popular enough to keep petrol at almost double the price of Pakistan and not feel any dent in election prospects. Things in Pakistan are bit different. Thats why IK decided to fix oil price in worst possible time which can be disaster if not corrected soon. Since its not possible to explain inflation factors to people in streets, he is using foreign conspiracy angle to come back in power. Otherwise he was gone case.

Pakistan is still in better position then in 2018 when previous govt left thanks to increase in remittances and exports. CAD have come down to $500m per month and if oil goes down to $75 then it will be in surplus. Free market exchange rate will take care of the rest. The only problem is fixing oil price Rs150 which is like $0.80 till June. But care taker govt can change that in few weeks.

 

[blueazure]

@Norwegian @AZ1

pl comment

 

[INS_Vikrant]

Quite honestly this looks like another Sri Lanka in making just two months into the future. And isn't there general election schedule in just 3 months that might mean not only govt would be hesitant to roll back subsidies or worse it might introduce even more.

 

[S.Y.A]

When was the last time Pakistani awam protested lack of clean drinking water? Or powercuts? Or inflation? Or poor education standards? Or Healthcare? Or lack of security?

numerous times, it just doesnt catch the attention of the media like a political rally or the issues you mentioned, and most of the time the police resort to brutality to suppress any such protest quickly.