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Deputy Secretary Information PTI says we are going to back to 2017-2018.

you do realize what a worthless currency does to an economy of a nation ?

zimbabwe, lebanon, iran ??
That is why PTI government never brought anything for Pakistan no FDI, no new projects no export increase or import decrease. At times, i think that if Pakistan defaulted it still it would have much better than giving PTI the economy to PTI, which again towards default route. He do not live Pakistan, that he thinks like that.

What did we got by bringing a honest person? Nothing in fact people life is more misrable than before, bureaucracy do not listen to PM, his cabinet do not listen to him, Even our PM do not acknowledge his own signed and guaranteed IMF in March 2021 that we will increase Electricity prices ,however, after disbursement of 500 million dollar from IMF and than he did not entertain is own commitment and delayed IMF program, bring inflation again, currency is going for a collapse, again taking massive commercial loan to fill CAD gaps (What PMLN did in 2018), he is contradicting own commitment about CAD. Who will trust him no one? WB, IMF, ADB and AIIB has stopped giving us loan because Imran Khan has 3 times miss committed with IMF. First Asad Umar did, than Imran Khan did in March 2021, now Shaukat Tarin did by singing a agreement on budget that our CAD will not go above 2.5 billion dollar in FY 2022.

Honesty does not bring a good administrator or competence. He can represent us in UN, which suits him more because he is only good speeches but he cannot run country ,where he wasted Pakistan 3 years by saying that devaluation increase export and decrease import, which also he proved him self otherwise not others he him self. So he is contradicting his own statement since these 6 to 7 years. Imran Khan is most confused PM every witnessed.
 
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So what we achieved undervaluing? No export increase and only import increase. Coming to reserve PMLN and PPP can better Job than PTI by filling the reserve by taking loan so i ask what we achieved by devaluing. God forbid, if Pakistan default the currency will also devalue so you take that as achievement?
With overvalued rupee we lose foreign exchange reserves. Same thing doesn't happen with devalued currency
 
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I don't understand Finance and banking but the situation of country looks abysmal. I would like to read more from experts. Obviously things change under PTI but not in a positive way. I thought that country will progress. Imran khan is an honest person but his party is not doing great. People are in pain. I heard for the first time that we are going to be defaulted. I blame every politician. this system is so corrupt. Is there any force who can fight against these corrupts?
 
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Worthless currency is still better than negative foreign exchange reserves
No. Nigeria did the same now look where they are. There currency has no value and they have more than 45 billion dollar reserve, which useless and 70% Nigeria users do not deal in local currency. Currency confidence is a must to run domestic business otherwise prices changes products hourly bases not monthly. You do not live in Pakistan that is why you feel that way but when you come Pakistan you will not invest in Rupee in Pakistan asset leave alone living. That is why PTI never brought FDI, investment, exports and only increase imports because they let the currency on the mercy of private compaines no country not even default country. Someone really misguided him and there is no reference that you massively devalue currency you get export increase. Look at Turkey, Sri Lanka, Nigeria, Argentina, etc. It only brought panic and default status.


It is better get defaulted like Sri Lanka than PTI experiments at least it would Pakistan to debts when Pakistan stands on feet.
 
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In short he saying that IMF is going burried us alive with September numbers.

We said it correct i told everyone that we are going for total default with this. No one save us now expect we will now have the most harsh condition IMF ever given to country. Thanks for the Shaukat Tarin and Imran Khan growth vision.

The biggest problem is that CAD is not given by WB, ADB or AIIB ,however, it is given by Foreign commercial banks and their lending is very short and very interest ,which PMLN and caused Pakistan to beg to KSA, UAE, China and IMF. Now we going to more worse situation than after September and most likely mid October. It will very late by than even firing Shaukat Tarin wont work than.





Do you have any factual evidence to back up your assertions rather than simply tweets?
 
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Do you have any factual evidence to back up your assertions rather than simply tweets?
"According to the statement, despite the massive currency devaluation, neither the exports increased proportionately nor the imports could be curbed, touching an alarming peak of $6.4 billion in August."





" Trade Deficit: +114% to $7.3bn " in 2 months only


150 million dollar export missed even with massive devaluation.




580 million was used to fill CAD gaps in July and was taken from highly interest rate and very short period of time from Commercial banks.
 
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"According to the statement, despite the massive currency devaluation, neither the exports increased proportionately nor the imports could be curbed, touching an alarming peak of $6.4 billion in August."





" Trade Deficit: +114% to $7.3bn " in 2 months only


150 million dollar export missed even with massive devaluation.




580 million was used to fill CAD gaps in July and was taken from highly interest rate and very short period of time from Commercial banks.

Where is the source of your claim of $580m to fill CAD ?

Besides the amount taken is in line with our principal debt and interest payment requirement.
I see a major portion coming in as inflows against projects.
 
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Where is the source of your claim of $580m to fill CAD ?

Besides the amount taken is in line with our principal debt and interest payment requirement.
I see a major portion coming in as inflows against projects.
State Bank of Pakistan. We got 225 million covered from RDA and 89 million dollar FDI. We now not getting FDI that FM hoped or PM hoped for due to devaluation of PKR on regular bases.

. We are nearing to defaults process due to massive devaluation without gaining any kind of advantage of exports or attracting investment.
 
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State Bank of Pakistan. We got 225 million covered from RDA and 89 million dollar FDI. We now not getting FDI that FM hoped or PM hoped for due to devaluation of PKR on regular bases.

. We are nearing to defaults process due to massive devaluation without gaining any kind of advantage of exports or attracting investment.

You did not answer my question?

Where is the source of data of your claimed $580m figure?

Do not bullshit on this forum.
 
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What benefits we got from devalued rupee?

You did not burn billions for supporting artificial currency.

Your reserves got stable instead of falling like a pack of cards.

Avoided a definite bankruptcy and a fate like Zimbabwe or Lebanon.

For just starters, the rest of world follow this model.
 
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You did not answer my question?

Where is the source of data of your claimed $580m figure?

Do not bullshit on this forum.
you do not reach article. Reserve are maintain means that we borrowed from other balance sheet to maintain the balance sheet. Our CAD was 775 million so we are not printing dollar or we not stopping imports number in fact it is increasing. So the borrowed money did not went in Reserve as in July the reserve falled nearly 389 million dollar after getting 1 billion dollar euro bond. Therefore, we are borrowing to maintain the reserve and fill CAD gaps as we not getting the desired amount that we wanted from FDI and RDA due to massive devaluation.


Remember one more thing we have to pay 1 billion dollar euro bond on 13th October.
 
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you do not reach article. Reserve are maintain means that we borrowed from other balance sheet to maintain the balance sheet. Our CAD was 775 million so we are not printing dollar or we not stopping imports number in fact it is increasing. So the borrowed money did not went in Reserve as in July the reserve falled nearly 389 million dollar after getting 1 billion dollar euro bond. Therefore, we are borrowing to maintain the reserve and fill CAD gaps as we not getting the desired amount that we wanted from FDI and RDA due to massive devaluation.


Remember one more thing we have to pay 1 billion dollar euro bond on 13th October.

I repeat my question, where is the source for your claim?

SBP has clearly said no intervention and the forex market seconds his position.

You sure that was not for interest payment? 😂
 
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