Had Imran-led govt continued, Pakistan’s economy would have collapsed: Shabbar Zaidi

[ziaulislam]

The no confidence vote that dismisses IK was indeed a timely saviour for him. There’s no way a country goes from a good state of economy to the near bankruptcy in weeks.

Besides being lucky I’d say IK has also been extremely smart in turning a nothing memo into a global regime change conspiracy against him .

The unluckiest is your armed forces and Bajwa who got all the blame .

Of course it can.
Just announce ishaq dar is going to be your FM and India will bankrupt next day as everyone will expect Indian rupee to artificially improve by 20% the state bank to print a few trillions rupees for none sense infrastructure projects and drop in reserves & exports

This isn't ishaq dar first roadio

What happened to Pakistan was a "bankrun" or loss of confidence as soon as we heard the term ishaq dar..just look at Roshan digital .6b$ were withdrawn in a month because people know ishaq dar confiscated money in 1998

 

[Mav3rick]

Progress and development take time, and it's essential to allow any govt, to complete their tenure. A functioning govt and system require the opportunity to work organically, without constant disruptions -- bringing in new leaders and undermining them through anti-campaigning behind closed doors. Corruption exists not only in Pakistan but everywhere, the key issue lies elsewhere.

The core reason for Pakistan's struggles and challenges is often attributed to the interference and influence of the Pakistan military establishment. The continuous reliance on the mil in governing affairs has led to a situation where the country faces difficulties and has to seek external assistance.

Emotional manipulation and running fake campaigns against politicians and judges are detrimental to the process. May 9 is the classic example here..

This is unfortunate but Pakistan will never move forward the reason is, incompetent property dealers have no idea how to run the country, their job is to follow the system, constitution and law … more precisely, a dumb *** ****** 22 grade robot must follow the orders of the PM — again more precisely, follow the order of worst of worst or maha corrupt PM and the govt.

You can't simply blame govts for all the mess. Here is the classic example, the way the military puts the entire machinery, system, judiciary, and accountability institutions against one person just to prove him wrong. If General Bajwa sincerely supports Khan's anti-corruption drive and allows the system to function as the government desired, believe me, Pakistan would have made progress by now. Look at what Khawaja Asif said in his recent interview; the establishment contacted them in 2019 (just one year of Khan came into power) and asked them to come and remove IK from the powerrrr.

Exports, business etc etc ye tu bhaya baad ki batain hain… pehlay nezaam tu banao jo ye sab deliver karay.. nezaam tu chalnay do .. ye mulk ko chalnay he nahi day rahay..

This is a very good post and I agree with almost everything that you wrote. However, for the sake of argument, don't you believe that the correction should have come when PML was in power and every state institution was being used against NS and PML leaders? Wasn't that the time when the politicians should have united to root out the activism by the establishment rather than to take their hand and climb to power like Imran Khan did?

The economy was doing much better in 2016/17 then it has done since and indicators were in the +, the roadmap was there and the foundation was being laid to take the country into development mode and all this while corruption was going on as well (which as you said happens all over the world). What prompted the establishment to derail the system and bring in Imran Khan? Was it mere ego of 1 man vs the other (NS vs COAS)?

 

[Mav3rick]

Moron you quoted figure of 28 billion, did you take that out of your rear like every patwari these days?
As for the highlighted part so? Didnt your Ishaq dollar the other day quoted figure of 10 billion reserves which included that of commercial banks?
Here you idiot:
"Finance Minister Ishaq Dar has said that Pakistan’s foreign exchange reserves currently stand at $10 billion and not $4 billion as $6 billion held by commercial banks also belong to the country".
https://tribune.com.pk/story/2394789/ishaq-dar-claims-forex-reserves-stand-at-10b
So which ever way you look Khan left with a lot more juice in the reserve that your idiot lot not to forget the crisis that Khan had to deal with in his 3.5 years when the whole world economy was in recession due to corona.
Now go and die already! You lot are a curse on Pakistan.


Begairton ka saath haath nahi hota, he will come up with new $hit and then his fellow jokers will jump in to support the claim!

Retard, you were pulling stats out of places which I won't even mention here and when you got caught, you resorted to BS which is typical of your kind and upbringing. The figure of 28 was criticism, which you obviously are not able to comprehend, again, because of your IQ.

Coming back to the point, stop quoting your FM to conjure excuses; Pakistan's foreign reserves are different to the State's foreign reserves which are always held by the SBP and that's the figure which matters. The USD with the commercial banks belong to them and their depositors, not to the state.

Coming back to the point again, Khan left the country BANKRUPT! You are pathetic and a disgrace that you lie for a politician. People like you who hold allegiances to their false gods are the real enemies of Pakistan. You did read in the article that you yourself posted about the state's reserves being a mere 4 Billion whereas all the other money belonged to the 3 friendly countries and I am sure you must have searched our payables and receivables which prove beyond any doubt that Imran Khan left Pakistan BANKRUPT!

The biggest lie in this entire saga is that Corona somehow caused problems for Pakistan when infact, it was the biggest blessing as dept repayments for 2 years were rolled over and Billions of USD worth of aid was provided to Pakistan; the IMF alone gave over 2.7 Billion to Pakistan for COVID which was a grant and not loan!

Now, you can continue to be a retard or you can take the opportunity to do some soul searching and fact finding on what Imran Khan did to Pakistan, not just the economy but also the external relations with our best friends.

 

[N.Siddiqui]

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Asad Umar

@Asad_Umar

شبر بھائی خیریت ہے، یہ کہانی کہاں سے ایجاد کر دی؟ تحریک انصاف کی حکومت بنی اگست 2018 جس کے اختتام پر سٹیٹ بنک کے زر مبادلہ کے ذخائر 9.8 ارب ڈالر تھے۔ میرے وزارت خزانہ سے ہٹنے کا مہینہ اپریل 2019 تھا جس کے اختتام پر زر مبادلہ کے ذخائر 8.7 ارب ڈالر تھے۔ یہ ڈیفالٹ کی کہانی سے آگئ؟ اس موجودہ حکومت کے دور میں زر مبادلہ کے ذخائر 3 ارب ڈالر سے بھی کم ہو گئے تھے اور قرضوں کی ادائیگی میں ڈیفالٹ نہیں ہوا تو 8.7 ارب ڈالر پر ڈیفالٹ کیسے ہوتا؟

Translated from Urdu by
Hello Shabarbhai, where did this story come from? The Tehreek-e-Insaf government was formed in August 2018, at the end of which the foreign exchange reserves of the State Bank were 9.8 billion dollars. The month I left the finance ministry was April 2019, at the end of which the foreign exchange reserves stood at $8.7 billion. It came from the default story? During the tenure of this current government, the foreign exchange reserves were reduced to less than 3 billion dollars and if there was no default in the repayment of loans, how could there be a default of 8.7 billion dollars?

The destruction and freefall of the Pak economy in PDM's 16 months govt. with PTI performance.

 

[N.Siddiqui]

https://twitter.com/x/status/1684926699765469184

 

[ProudThamizhan]

You're right it didn't take weeks but decades.

Political instability, corruption & shit policies especially by PMLN brought us near default in 90s. Only reason we were saved was b/c Musharraf joined WoT but then we got dragged into war & PPP & PMLN came back to continue their politics, corruption & shit policies again with PMLN making the absolute worst economic decisions.

PTI came in & stabilized economy but with establishment & PDM not cooperating, he couldn't do much. Consider this, FATF itself was used as a leverage by them to try & get NRO. So while stable, the economy was always on the edge. If regime change hadn't happened, it's likely it would have continued this way for years, improving very slowly, assuming he won again.

The only thing that happened now was the economy went over the edge due to political instability & again corruption & absolute shit economic policies by PDM.

Good point . But IK’s economic policies were also equally precipitating as that of his predecessors. Now we learn he was only marginally less corrupt than the priors.

Once we settle to politicians are all that way, it comes down root cause of several decades of mismanagement corruption and military expansion into 50% of economy. In that light guess it is natural justice of some kind that the military takes the blame now

 

[EternalMortal]

Good point . But IK’s economic policies were also equally precipitating as that of his predecessors. Now we learn he was only marginally less corrupt than the priors.

Wrong on both accounts.

His policies were far better than theirs & the 2022 survey showed this. PTI accomplished this without aid or the favourable international & economic conditions that Musharraf, PPP & PMLN had. Again PTI stabilized the situation & put it on a path to recovery, albeit slow.

He wasn't marginally less corrupt. He wasn't corrupt at all. Tosha Khana is a non starter & al qadir is dead on arrival. No bribery, no commissions, no money laundering. Not even nepotism. How you can claim this is "marginal", defies logic.

Once we settle to politicians are all that way, it comes down root cause of several decades of mismanagement corruption and military expansion into 50% of economy. In that light guess it is natural justice of some kind that the military takes the blame now

"All" politicians are NOT that way. Have you investigated & found conclusive proof against ALL politicians?

 

[HAIDER]

https://twitter.com/x/status/1684994540900433921

 

[EternalMortal]

This is a very good post and I agree with almost everything that you wrote. However, for the sake of argument, don't you believe that the correction should have come when PML was in power and every state institution was being used against NS and PML leaders? Wasn't that the time when the politicians should have united to root out the activism by the establishment rather than to take their hand and climb to power like Imran Khan did?

The economy was doing much better in 2016/17 then it has done since and indicators were in the +, the roadmap was there and the foundation was being laid to take the country into development mode and all this while corruption was going on as well (which as you said happens all over the world). What prompted the establishment to derail the system and bring in Imran Khan? Was it mere ego of 1 man vs the other (NS vs COAS)?

Was it Imran's fault that Nawaz was caught money laundering with his pants down? Why should he be united with & make a deal with proven criminals? They're literally part of the problem. Why don't you as a Pakistani ditch these criminals & vote for Khan? You'll have a party with a 2/3 mandate that can actually effect some change.

Economy in 2016/17 WASN'T doing well. That's the point. PMLN policies ARTIFICIALLY kept the rupee high by burning reserves & killing exports. Oh & they signed shit CPEC deals & took massive loans. We were literally on verge of default (just like now) b/c we didn't have the money to pay for imports. That's "doing well" to you?

Establishment didn't bring in Khan. Even pmln admits that Bajwa offered shahbaz to become PM. He won elections fair & square. Punjabis just got tired of Sharifs & kicked them out. Deal with it.

 

[Mav3rick]

Was it Imran's fault that Nawaz was caught money laundering with his pants down? Why should he be united with & make a deal with proven criminals? They're literally part of the problem. Why don't you as a Pakistani ditch these criminals & vote for Khan? You'll have a party with a 2/3 mandate that can actually effect some change.

Economy in 2016/17 WASN'T doing well. That's the point. PMLN policies ARTIFICIALLY kept the rupee high by burning reserves & killing exports. Oh & they signed shit CPEC deals & took massive loans. We were literally on verge of default (just like now) b/c we didn't have the money to pay for imports. That's "doing well" to you?

Establishment didn't bring in Khan. Even pmln admits that Bajwa offered shahbaz to become PM. He won elections fair & square. Punjabis just got tired of Sharifs & kicked them out. Deal with it.

Our entire difference of opinion, as is the case with most of us here, is based on our understanding and belief of the economy doing better under 1 Government or the other. You believe that Pakistan was doing better under PTI whereas I believe that not only was Pakistan doing a lot better under PML, it was also Imran Khan who, through his actions, damaged everything.

Imran Khan not only damaged the economy (starting with his dharna in 2013) but also wreaked havoc on the fabric of our society whereby his followers have been taught disrespect for the point of views of others, including their elders who have seen a lot more then these youngsters. And the intolerance Imran has advocated for decades and lately the hate for the entire Army, including the common soldier who is merely obeying commands; on top of his actions which caused damage to our relations with our closest friends China, Saudi Arabia and UAE are just some things which will take considerable effort to mend.

But all that apart, I, like all other Pakistanis, am faced with a dilemma, to choose 1 evil or the other; we have no options literally. It's this evil vs that evil and those are our only options. I believe Imran Khan to be the biggest of all evils simply because he has misled the country to a point where we are all at war with friends and families. He has taught his followers that if someone is not his supporter then he must be a supporter of NS or Zardari; no middle ground.

Now, coming back to your point about NS and ML; do you know that the first ML Law ordinance came in 2009 and that it was ratified as an ACT in 2010? Before 2000, who had even heard of ML in Pakistan or throughout the world for that matter? Granted that the AMLA 2010 empowers cases going back before enactment of the ACT, but in hindsight, it is neither easy to prove 30-40 year old cases nor is it possible to convict them. Furthermore, the NAB laws say that an accused has to prove his innocence otherwise he/she will be considered guilty......what kind of a damned law is that? These have always been used for witch-hunts and political maneuvering. And come to think of it, why was there a need for ML laws etc.,? It was because people indulge in corruption all over the world, including India and yet the world continues to progress. So what is so different in Pakistan? Do you also realize that Pakistan was ranked worst on corruption under Imran Khan? Isn't that saying something?

Keeping the rupee artificially at 104 was not only affordable, it was the most prudent decision. We were not burning through our reserves because of the exchange rate but because we had to import Billions of USD worth of CPEC equipment because of which our import bill was through the roof. But all that was supposed to pay off with CPEC being touted as a game changer; it could very well still be. Now think on this, Dar was able to do corruption of Billions of USD + he was able to provide subsidies to the tune of Billions of USD + he was burning reserves to keep the rupee at 104 + he was servicing debt in time + he had successfully completed the only IMF program in the history of our existence + ratings from IMF/Moody, Fitch, WB etc., were all positive + .......; how is all that possible? The only thing that was missing was the export based economy for which the base was being setup with investment in power generation and CPEC etc. It was only in 2017 when Panama drama was created which started to cause market turbulence including FDI and which was the starting point of the damage to the economy.

Lastly, you said establishment did not bring Khan. I don't really know how to even respond to that.

 

[fatman17]

View attachment 941903​

• Zaidi alleges PTI lawmakers forced him into forgiving non-taxpayers.
• He says Imran Khan removed Asad Umar due to economic crisis.
• Zaidi says Khan did not listen to him when he told him to fix things.

A top official during the Pakistan Tehreek-e-Insaf (PTI) government said the country would have economically collapsed had the Imran Khan-led regime completed its tenure.

The PTI's tenure was cut short in April 2022, when the government was ousted after Khan was removed as the prime minister through a no-confidence motion, paving the way for Shehbaz Sharif and allies to come into power.

One of the primary reasons behind ousting the Khan-led government was economic mismanagement and the increasing burden of inflation on the masses, as claimed by the now rulers, who were then in opposition.

"Had this [...] government continued, the party would not have even secured 5% votes as the country would have economically collapsed," former Federal Bureau of Revenue (FBR) boss Shabbar Zaidi told Geo News' Shahzeb Khanzada.

The tax collection body's ex-chief said he had advised Khan to rectify his government's shortcomings and "settle things, but he was not in the mood of listening [to anyone]".

Although Zaidi — whose stint as the federal tax collection body's chief lasted from 2019-2020 — mentioned that when he pointed out the economic crises Pakistan was headed towards during PTI's tenure, Khan had removed Asad Umar as the finance minister.

Forgiving non-taxpayers​

Zaidi also spoke about influentials forcing him to drop the cases against people close to them or those who were politically important.

The economist said he "mistakenly" sent a notice to a landowner in Multan. "I asked him to reconcile his wealth with his agricultural income."

In response, 40 parliamentarians "barged into my office", led by then-foreign minister Shah Mahmood Qureshi, he said.

Zaidi said ex-lawmaker Sardar Nasrullah Khan Dreshak, during the meeting, told him that the people in his office were "MNAs from South Punjab, and the government cannot continue without them".

"I have seen a lot of governments [...] leave him [...] you're a kid now," Zaidi quoted Dareshak as telling him.

The ex-FBR chief said he tried bringing the tobacco industry people in Khyber Pakhtunkhwa in the frontier regions into the tax net, but he faced strong opposition from then-NA speaker Asad Qaiser.

"You cannot do this...you cannot enter our areas," Zaidi quoted Qaiser as saying.

'Had Imran-led govt continued, Pakistan’s economy would have collapsed'

The country would have economically collapsed had the Pakistan Tehreek-e-Insaf government completed its tenure, former Federal Bureau of Revenue boss Shabbar Zaidi said.The PTI's tenure was cut...

www.thenews.com.pk

Pakistan would've suffered economic collapse had PTI govt continued: Shabbar Zaidi

Zaidi alleges PTI lawmakers forced him into forgiving non-taxpayers.He says Imran Khan removed Asad Umar due to economic crisis.Zaidi says Khan did not listen to him when he told him to fix things.

www.geo.tv

Shabbar zaidi was quoted out of context

 

[fatman17]

https://twitter.com/x/status/1685526081627881472

 

[FOOLS_NIGHTMARE]

 

[IceCold]

Retard, you were pulling stats out of places which I won't even mention here and when you got caught, you resorted to BS which is typical of your kind and upbringing. The figure of 28 was criticism, which you obviously are not able to comprehend, again, because of your IQ.

Coming back to the point, stop quoting your FM to conjure excuses; Pakistan's foreign reserves are different to the State's foreign reserves which are always held by the SBP and that's the figure which matters. The USD with the commercial banks belong to them and their depositors, not to the state.

Coming back to the point again, Khan left the country BANKRUPT! You are pathetic and a disgrace that you lie for a politician. People like you who hold allegiances to their false gods are the real enemies of Pakistan. You did read in the article that you yourself posted about the state's reserves being a mere 4 Billion whereas all the other money belonged to the 3 friendly countries and I am sure you must have searched our payables and receivables which prove beyond any doubt that Imran Khan left Pakistan BANKRUPT!

The biggest lie in this entire saga is that Corona somehow caused problems for Pakistan when infact, it was the biggest blessing as dept repayments for 2 years were rolled over and Billions of USD worth of aid was provided to Pakistan; the IMF alone gave over 2.7 Billion to Pakistan for COVID which was a grant and not loan!

Now, you can continue to be a retard or you can take the opportunity to do some soul searching and fact finding on what Imran Khan did to Pakistan, not just the economy but also the external relations with our best friends.

Such a liar you patwari shitters are. Do tell which status I pulled that were out of place? The reason you wont mention it because there is none. Otherwise you have paraded that instead of puddling nonsense and trying to divert the topic. I quoted figure of 18 billion that PTI left from a famous patwari source, and not from any Pro PTI ones which would claim this to be 22 billion. Why were you were bullshitting about 28 billion? which you gave the figure i did not, and then instead of replying to that you twisted the argument following the patwari logic started talking about commercial banks. My question is so? I did not even touched that topic or claimed anything otherwise. Even your own Ishaq dollar claims the same when quoting figures so which figures did I misquoted here?

Rest of your post is mere BS and rant that does not merit a response. You challenged my post on 18 billion in reserve and 28 billion that you stated. I did not. I will await on the misquote/misrepresentation part and also on the 28 billion that you stated. Where did you pulled that figure out is all I asked?
The soul searching part is on you if you have one but knowing the background of the likes of you, I doubt that.

 

[EternalMortal]

Imran Khan not only damaged the economy (starting with his dharna in 2013) but also wreaked havoc on the fabric of our society whereby his followers have been taught disrespect for the point of views of others, including their elders who have seen a lot more then these youngsters. And the intolerance Imran has advocated for decades and lately the hate for the entire Army, including the common soldier who is merely obeying commands;

Dharna didn't damage economy. PMLN's policies did.
What is this nonsense about "respect" & “tolerance”. How is demanding accountability & rule of law, disrespectful & intolerant? Why exactly are criminals who've looted the country, murdered innocents & destroyed law & order, demanding respect & tolerance? There should be no respect nor tolerance for anyone who justifies corruption & murder, like you patwaris do. I’d rather have disrespect & intolerance than being murdered for my views like you patwaris promote.

When has IK advocated hate against army? Where has any PTI leader said anything against army? Even today with all the tyranny against them, PTI doesn't insult army as an institution.
Meanwhile, the mullahs, liberals & leftists that PMLN associates with have had no problem insulting our soldiers, calling them Kaffir, terrorists or justifying terrorism.

Your problem just like the family you worship is that you have zero problem telling blatant lies. You ppl are complete psychos. No fear of God at all.

on top of his actions which caused damage to our relations with our closest friends China, Saudi Arabia and UAE are just some things which will take considerable effort to mend.

No, actually it was PMLN that damaged relations with gcc after refusing to send troops to Yemen. And it has now damaged relations with the Chinese by making Pakistan an American stooge again. Saudis & Emiratis aren’t interested in helping them either right now.

The Chinese were quite happy during his tenure b/c CPEC actually went somewhere & he supported them during the whole Uighur episode & wanted to deepen the alliance with China whereas PPP & PMLN are seen as western lackeys (rightfully so).

Now, coming back to your point about NS and ML; do you know that the first ML Law ordinance came in 2009 and that it was ratified as an ACT in 2010? Before 2000, who had even heard of ML in Pakistan or throughout the world for that matter? Granted that the AMLA 2010 empowers cases going back before enactment of the ACT, but in hindsight, it is neither easy to prove 30-40 year old cases nor is it possible to convict them. Furthermore, the NAB laws say that an accused has to prove his innocence otherwise he/she will be considered guilty......what kind of a damned law is that? These have always been used for witch-hunts and political maneuvering. And come to think of it, why was there a need for ML laws etc.,? It was because people indulge in corruption all over the world, including India and yet the world continues to progress. So what is so different in Pakistan?

When PPP & PMLN were throwing cases at each other & we were in FATF? Speaking of which you can thank PTI for getting us out of it again after PMLN about us back in. And of course PPP & PMKN were blackmailing PTI for NRO over state interests. you’re acting as if they did this out of the goodness of their hearts. we know what they’ve done since coming back into power. NAB & ML laws have essentially been crippled.
NAB was created by Musharraf btw, not PPP or PMLN

Do you also realize that Pakistan was ranked worst on corruption under Imran Khan? Isn't that saying something?

Do you realize that it was PERCEPTION of corruption. IK let NAB & FIA do their job which meant that cases were not suppressed. Compare this to PMLN literally killing investigators to suppress cases.
That score is the same this year, btw. If PTI was the cause then why hasn’t it dropped?

Keeping the rupee artificially at 104 was not only affordable, it was the most prudent decision. We were not burning through our reserves because of the exchange rate but because we had to import Billions of USD worth of CPEC equipment because of which our import bill was through the roof. But all that was supposed to pay off with CPEC being touted as a game changer; it could very well still be. Now think on this, Dar was able to do corruption of Billions of USD + he was able to provide subsidies to the tune of Billions of USD + he was burning reserves to keep the rupee at 104 + he was servicing debt in time + he had successfully completed the only IMF program in the history of our existence + ratings from IMF/Moody, Fitch, WB etc., were all positive + .......; how is all that possible? The only thing that was missing was the export based economy for which the base was being setup with investment in power generation and CPEC etc. It was only in 2017 when Panama drama was created which started to cause market turbulence including FDI and which was the starting point of the damage to the economy.

Affordable? Not burning through reserves b/c of exchange rate but imports? Are you high? Or just plain stupid? Do you even understand economics & what exactly Dar did? No, of course you don't since you’re a patwari. He sold dollars to keep rupee high. This in turn created an incentive for importers while exporters were crushed. We were literally on verge of default. All thanks to PMLN.

Don’t get me started on IPPs. Circular debt is directly due to PMLN shit deals.
Panama drama didn’t cause market turbulence or loss of FDI. It was the fact that darnomics created a situation where we had burned through our reserves which meant that had no import cover nor the ability to pay back all the loans PMLN took. Also, return on investment was no longer attractive thanks to artificially high rupee so fdi also decreased.

this is basic economics but what do you expect from patwaris who think the guy who didn’t even know what a REER was, is an economic genius.

Lastly, you said establishment did not bring Khan. I don't really know how to even respond to that

No need to respond. Shehbaz has already done that for you.

Declined Bajwa's offer to become PM in 2018: Shehbaz | The Express Tribune

PM Shehbaz says he would sacrifice premiership '10 times' if someone believes he can go against his brother Nawaz Sharif

tribune.com.pk