Finance Minister says ‘Pakistan’s basic debts are so big that we are near bankruptcy’

[shahbaz baig]

You need at least two term of the same government. That has been the problem I believe there - you can’t expect long term solution after military coups or one term government being voted in and out.

true that is why I say 30 years slavery of kleptocrats and corrupt nature of Pakistanis want to see every change for betterment suddenly from the current Govt. This Govt Atleast don't lie with the people of Pakistan. Now as a nation it's our responsibility to accept this bitter truth that we have to sacrifice more few years for the betterment of Pakistan. But because of low literacy rate people would not understand this infect people don't know the difference between democracy & kleptocracy, on the other end politician as usual use the bad circumstances of Pakistan as political tool for their advantage rather then working together for the country.

 

[AHMED85]

 

[El Sidd]

Koi hal nahi hai... Koi hota tou batadeta...

Jabhi tou keh Raha Hun only natural resources... If found and extracted in a timely manner

If the government has no policy towards finance and is reliant on some miracle discovery. They should stop being a burden on the populace and resign. No point in clinging to power if the only objective is to stay in power and not work

 

[Neptune_]

Yup, Pakistan is in a dire state. It needs some serious help.

 

[AHMED85]

One thing is cleared now

With willingness of Army, ISI, MI, Bureaucracy Nawaz done money laundering & massive corruption.

After this assessment we are unable to grow Pakistan.

We are done.

No need of discussion, Pakistan never grow in this scenario of playing with country. [emoji41]

 

[shahbaz baig]

If the government has no policy towards finance and is reliant on some miracle discovery. They should stop being a burden on the populace and resign. No point in clinging to power if the only objective is to stay in power and not work

To be honest we need presidential system

 

[PakSword]

If the government has no policy towards finance and is reliant on some miracle discovery. They should stop being a burden on the populace and resign. No point in clinging to power if the only objective is to stay in power and not work

Phir kaun aayega? Nawaz and bilawal? Tum khud tou Germany ja ke baith gaey, baatain sari charsion wali..

I hate the guys who blame a nine month old government always for a little reason... There only mistake is that they contested without knowing the current state of economy... I would have boycotted .. our nation (which mostly comprised of the guys like you) only deserves corrupt bastards...

Sorry for my language but most of us don't contribute a dime to the economy and criticize government as if we are the highest tax payers, or scientists/ engineers/ doctors working for the country but government is not giving us our due share...

One thing is cleared now

With willingness of Army, ISI, MI, Bureaucracy Nawaz done money laundering & massive corruption.

After this assessment we are unable to grow Pakistan.

We are done.

No need of discussion, Pakistan never grow in this scenario of playing with country. [emoji41]

An honest comment... All of this was done with the help of most sacred institutions (including army and judiciary)... We are done as you have rightly pointed out.. I don't see any light at the end of the tunnel.

 

[B+ Dracula]

Pakistan has 2 big backers of China and Saudi. Bankruptcy is a distant thing.

Geroge Soros make a fatal mistake when he attacked Hong Kong finance in 1997 asian crisis.

He forget Hong Kong has China as backer to shore up its finance and end up he loses billions of dollars himself.

Some spot that appear weak maybe the strongest.

Title should be were...
Pakistan was deliberately put in bad position by negligence of executive and establishment

Hi, I've One Financial Question with both of you....

What If Dollar as World Currency collapse as US Economy is trembling down and can come down like a house of Cards in coming year.
.
i) What will the impact of Dollar collapse in our Debt? as we owe to IMF, Do they'v any substitute clause regarding payment in other currency
or
It will impact Positive, as Dollar will be worthless...so the payment in dollar will be easy??
.

ii) Chinese have huge reserves in Dollars ...How the dollar collapse will impact them
.
I came to know this....Chinese are Utilizing Dollar Investment in all over world to minimize its trembling impact

 

[PakSword]

Yup, Pakistan is in a dire state. It needs some serious help.

It needs Divine help or a pardon in exchange of nuclear bombs and accept LoC as an international boundary..

What If Dollar as World Currency collapse as US Economy is trembling down and can come down like a house of Cards in coming year.
.

This is like saying what if Pakistan finds 500 billion barrels of refined oil... lolll

Dollar will only collapse 10 years before the day of judgement

 

[El Sidd]

Phir kaun aayega? Nawaz and bilawal? Tum khud tou Germany ja ke baith gaey, baatain sari charsion wali..

I hate the guys who blame a nine month old government always for a little reason... There only mistake is that they contested without knowing the current state of economy... I would have boycotted .. our nation (which mostly comprised of the guys like you) only deserves corrupt bastards...

Sorry for my language but most of us don't contribute a dime to the economy and criticize government as if we are the highest tax payers, or scientists/ engineers/ doctors working for the country but government is not giving us our due share...

Nawaz is disqualified. Bilawal is barely surviving due to incompetence of the State institution in delivering accountability.

Not knowing the full extent of the situation and then painting pictures of a Reich filled with honey and oil is normal for politicians. If one does not fall for their tricks, he is abused and called a bastard?

 

[Pakistani Fighter]

Salaam !

https://www.thenews.co452973-financ...o-big-that-we-are-near-bankruptcyr-bankruptcy

Finance Minister says ‘Pakistan’s basic debts are so big that we are near bankruptcy’
National
Web Desk
April 03,2019
He said “If you look at the numbers from PMLN time, there was double digit inflation during PMLN time which we have thankfully not hit as yet.”

ShareNext Story >>>

ISLAMABAD: Finance Minister Asad Umar has claimed that Pakistan basic debts are so big that we are near bankruptcy.

The Finance Minister said this in Special Q&A Session with Social Media activists in Islamabad here Wednesday.

“You are going go the IMF with these massive debts in toe for a bailout. We have had to fill big gaps” said Asad Umar.


He said “If you look at the numbers from PMLN time, there was double digit inflation during PMLN time which we have thankfully not hit as yet.”

To a question about rising inflation, Asad Umar said “If you look at the past, inflation affected all stratas of society equally. In fact the poor had higher levels of inflation affecting them.”

“In our tenure this has seen a different trend with the poor feeling relatively less inflation as compared to higher income groups.”

Quoting Hafiz Pasha, finance minister said, Pasha has written that unemployment grew in both PPP and PML-N tenures. “But I will not paint a rosy picture because yes the economy has slowed down, so we are not seeing job creation at a high rate right now.”

To a question, Asad Umar said “You’re saying all my policies are like Ishaq Dar, Ishaq dar says I’ve destroyed the economy! During his time, for the first time in Pakistan’s history our exports didn’t grow.”

About rupee depreciation, dollar has climbed because of economic policies that have led to such huge losses for us as a country. “It’s a basic demand and supply situation.”

The external loan taken by PTI government in 9 months from July-March is 1/3rd of the loan taken by PMLN in same period last year, he said and added "when you see us hit the 12 month mark of our government, it is my prediction that you will see a $6-7 bn decrease in our Current Account Deficit."

Atleast he will perform better than Asad Umar

 

[mzain]

Salaam !

https://www.thenews.co452973-financ...o-big-that-we-are-near-bankruptcyr-bankruptcy

Finance Minister says ‘Pakistan’s basic debts are so big that we are near bankruptcy’
National
Web Desk
April 03,2019
He said “If you look at the numbers from PMLN time, there was double digit inflation during PMLN time which we have thankfully not hit as yet.”

ShareNext Story >>>

ISLAMABAD: Finance Minister Asad Umar has claimed that Pakistan basic debts are so big that we are near bankruptcy.

The Finance Minister said this in Special Q&A Session with Social Media activists in Islamabad here Wednesday.

“You are going go the IMF with these massive debts in toe for a bailout. We have had to fill big gaps” said Asad Umar.


He said “If you look at the numbers from PMLN time, there was double digit inflation during PMLN time which we have thankfully not hit as yet.”

To a question about rising inflation, Asad Umar said “If you look at the past, inflation affected all stratas of society equally. In fact the poor had higher levels of inflation affecting them.”

“In our tenure this has seen a different trend with the poor feeling relatively less inflation as compared to higher income groups.”

Quoting Hafiz Pasha, finance minister said, Pasha has written that unemployment grew in both PPP and PML-N tenures. “But I will not paint a rosy picture because yes the economy has slowed down, so we are not seeing job creation at a high rate right now.”

To a question, Asad Umar said “You’re saying all my policies are like Ishaq Dar, Ishaq dar says I’ve destroyed the economy! During his time, for the first time in Pakistan’s history our exports didn’t grow.”

About rupee depreciation, dollar has climbed because of economic policies that have led to such huge losses for us as a country. “It’s a basic demand and supply situation.”

The external loan taken by PTI government in 9 months from July-March is 1/3rd of the loan taken by PMLN in same period last year, he said and added "when you see us hit the 12 month mark of our government, it is my prediction that you will see a $6-7 bn decrease in our Current Account Deficit."

Asad Umer is a fool and incompetent. He will drown IK and Pakistan with his lies and inablity.

 

[PakSword]

If one does not fall for their tricks, he is abused and called a bastard?

Just read my comment again before assuming who I referred to a bastard in my comment...


And for God's sake, give us the solution before criticising the government.. Einstein!

Asad Umer is a fool and incompetent. He will drown IK and Pakistan with his lies and inablity.

Ok anything you could tell us that will put the economy on track?

Atleast he will perform better than Asad Umar

Ok what did he do better in the last term?

 

[El Sidd]

Just read my comment again before assuming who I referred to a bastard in my comment...


And for God's sake, give us the solution before criticising the government.. Einstein!

if government does not have a solution, it should step down.
the government insists on rolling out new policies every other day in hope of confusing the numbers and surviving another day.
You are a finance expert. what is your opinion other than wishing that Moses will strike a rock and money and honey will start flowing it.

 

[313ghazi]

So much shod puna in 1 thread. Will some of you people do your randi rona at home please?

The same people crying about the economy sound like sher when they're talking about wars and conflict...lol

Alhamdulillah, most people on this forum have not seen real hardship. I have only heard stories about it. The man who tells me these stories lived in true poverty and thanks to Allah today he lives like a king. He did this through the effort of his hands, not by crying about his situation. Those like him who sat and cried - their next generations are still crying today.

If the economy is shit, each and every one of us can do something about it. Make money, pay taxes, buy government bonds, invest in businesses in Pakistan, lend to the poor and working class to help them improve their businesses. This is not a time to despair, this is a time to make money!!!!