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

[nahtanbob]

During covid in 2020 and 2021 Pakistan got debt rescheduled and interest payments postponed. A lot of developing countries received this treatment, People need to keep in mind when debating foreign exchange reserves. Pakistani economy does great when foreign debt gets rescheduled. It happened in 2002-2005.

@Mav3rick @ziaulislam @IceCold @xyxmt

 

[Mav3rick]

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.

As I explained, retard, the figure of 28 Billion was sarcasm to your claim that PTI left 17 Billion USD; as your claim was a blatant lie, which is typical of your kind. Moreover, your continued diversion of the topic is further testament of your attempt to hide your lies. Fact is, PTI left approx 4 Billion USD after taking out funds placed by friendly countries and that the same was in negative when payables and receivables were accounted for. Will that embarrass you? Well, I doubt anything will.

P.S. Do you even understand the word "Sarcasm", this is the second post in which I have had to explain the same thing.

 

[Cash GK]

Oh dalo. 19 billions wala account default on wala taa. Aur 3 billions wala supper economy hain. Oh kanjeroo. Yani kuch bee.

 

[Mav3rick]

During covid in 2020 and 2021 Pakistan got debt rescheduled and interest payments postponed. A lot of developing countries received this treatment, People need to keep in mind when debating foreign exchange reserves. Pakistani economy does great when foreign debt gets rescheduled. It happened in 2002-2005.

@Mav3rick @ziaulislam @IceCold @xyxmt

I have been saying that for a long time now. Not just the fact that the debt was rescheduled for 2 years but also that we got Billions in aid including 2.7 Billion from IMF in grant (which was not a debt and hence was not required to be paid back). COVID19 is most likely the reason that Imran Khan was allowed to operate for another 2 years because it is apparent that the establishment had realized as early as 2019 what a blunder they had made with this insane person.

 

[LeGenD]

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

I will admit that PTI-led GOP was composed of shady characters and had corruption scandals of its own, Khan should have created a much better setup.

But I have to disagree with this article. Khan made the right call to remove Asad Umar from the post of Finance Minister and he chose Hafeez Sheikh to improve Pakistan's economic situation. Hafeez Sheikh is an economist and he prevented economic collapse in the face of COVID-19 pandemic. But Pakistani politicians are not very bright and Hafeez Sheikh lost to Yousuf Raza Gilani in the Senate election. And PDM's next move was to topple PTI-led GOP itself.

PDM is responsible for ruining Pakistan's economy.

 

[xyxmt]

During covid in 2020 and 2021 Pakistan got debt rescheduled and interest payments postponed. A lot of developing countries received this treatment, People need to keep in mind when debating foreign exchange reserves. Pakistani economy does great when foreign debt gets rescheduled. It happened in 2002-2005.

@Mav3rick @ziaulislam @IceCold @xyxmt

exports also went to 24B from 31B, Remmittance went from 22B/year to 30B/year. We should keep in mind developments other than debt rescheduling when talking about foreign exch. That is 15B/year more than years before.

 

[nahtanbob]

exports also went to 24B from 31B, Remmittance went from 22B/year to 30B/year. We should keep in mind developments other than debt rescheduling when talking about foreign exch. That is 15B/year more than years before.

We are in a recession and global slowdown now. Exports would decrease slightly

There is no logic behind the fall in remmittances.

 

[IceCold]

As I explained, retard, the figure of 28 Billion was sarcasm

No moron you just pulled that figure out of your rear. As for your so called sarcasm, what a sad and pathetic attempt. PTI did left 18 billion in reserves as per your own patwari source moron. As per other sources it was 22 billion. I quoted the figure from a known patwari source but you are so stupid that you are hell bent on "mere kan chita ha" patwari nonsense that you cannot even read the fuckin source. The only thing you tried in your desperation was by saying 10 billion was owned by commercial banks so what? Even by that standards there was more money in the reserves considering your own patwari finance minister also considers money in commercial banks as reserves. I have not even touched any other source or argument and going by your argument and patwari source of 18 billion reserves with 10 billion owned by commercial banks. Go figure!
Now if you have embarrassed yourself enough, go back to the gutter you lot tend to crawl out of and started a thread on fake news that Zaidi himself denied that his interview was manipulated as usual. What a basharam lot you are.

 

[xyxmt]

No moron you just pulled that figure out of your rear. As for your so called sarcasm, what a sad and pathetic attempt. PTI did left 18 billion in reserves as per your own patwari source moron. As per other sources it was 22 billion. I quoted the figure from a known patwari source but you are so stupid that you are hell bent on "mere kan chita ha" patwari nonsense that you cannot even read the fuckin source. The only thing you tried in your desperation was by saying 10 billion was owned by commercial banks so what? Even by that standards there was more money in the reserves considering your own patwari finance minister also considers money in commercial banks as reserves. I have not even touched any other source or argument and going by your argument and patwari source of 18 billion reserves with 10 billion owned by commercial banks. Go figure!
Now if you have embarrassed yourself enough, go back to the gutter you lot tend to crawl out of and started a thread on fake news that Zaidi himself denied that his interview was manipulated as usual. What a basharam lot you are.

relax my friend, you are talking to someone who considers dumb fcuk like Nawaz whose mental capacity is of a 8 year old his leader, only 4 year old minds can call him his leader...don't burn yourself, even God has given up on this breed.

We are in a recession and global slowdown now. Exports would decrease slightly

There is no logic behind the fall in remmittances.

yes slightly and 25% is not slightly, mind you those two years of higher exports are in Covid times when everything was closed, now is 100% better situation even in recession.

 

[Mav3rick]

No moron you just pulled that figure out of your rear. As for your so called sarcasm, what a sad and pathetic attempt. PTI did left 18 billion in reserves as per your own patwari source moron. As per other sources it was 22 billion. I quoted the figure from a known patwari source but you are so stupid that you are hell bent on "mere kan chita ha" patwari nonsense that you cannot even read the fuckin source. The only thing you tried in your desperation was by saying 10 billion was owned by commercial banks so what? Even by that standards there was more money in the reserves considering your own patwari finance minister also considers money in commercial banks as reserves. I have not even touched any other source or argument and going by your argument and patwari source of 18 billion reserves with 10 billion owned by commercial banks. Go figure!
Now if you have embarrassed yourself enough, go back to the gutter you lot tend to crawl out of and started a thread on fake news that Zaidi himself denied that his interview was manipulated as usual. What a basharam lot you are.

Read again Retard, I know you are unable to understand sarcasm and that you have no other argument to hide behind being one of the biggest retards on the forum. PTI did not leave 18 Billion Retard, PTI left a mere 4 Billion after deducting funds placed by the 3 friendly countries making it a grand total of 11 Billion! You can verify with your Youthia sources but you must stop using your Retarded sources. It is damn pathetic that Retard like you is unable to read the source he himself posted in which it is clearly mentioned that the actual Government reserves were a mere 4 Billion. But what is to be expected from a Retard!

Infact, Retard, you don't actually have to verify from any Youthia source either as the factual position is available on SBP website which archives a record of reserves on a daily basis. Finally, I understand that Retards like you will cling on to their pathetic lies and disgusting propaganda, sometimes simply because they are literally this Retarded and are unable to comprehend simple facts. However, there are many others who are not Retards like you and hence for them I have to post again that the Total available Foreign Currency in the country was 17 Billion out of which almost 6 Billions belongs to Pakistanis and were accordingly held with Commercial Banks. The Government's funds stood at 11 Billion with SBP out of which 7 Billion were placed by China, Saudi Arabia and UAE which left a grand total of 4 Billion in our actual reserves! And once the payables and receivables are taken into account, the net reserves were in the negative! So damn pathetic that after getting all the figures, Retards still throw around figures which are nothing more than a figment of their Retarded imagination!

 

[aviator_fan]

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.

May be you should refresh your memory to 1998 when the same corrupt group of Sharif's liquidated $11BN worth of dollar accounts to Rupees. Thats a unique privilege and level of economic decline that Sharifs can take to their grave. Thats a level of bankruptcy that nobody has been able to come close to.

View from Islamabad: Repeat of 1998 unlikely with forex bank deposits

The decision by Pakistan's central bank, the State Bank of Pakistan, to reassure dep-ositors in the past few days that foreign currency deposits shall never be frozen again, highlights a lingering concern over a key aspect of the country's banking system.

gulfnews.com

We are in a recession and global slowdown now. Exports would decrease slightly

There is no logic behind the fall in remmittances.

Logic is foreign Pakistanis don't want to help the current Govt. Probably not sending money or via unofficial channels

 

[S.Y.A]

he is right in this regard though. he wasnt allowed to work properly by both the military and pti. this was known by everyone in the govt service back then, that IK and FBR had to back off from a lot of initiatives due to political and military pressure.

the only thing is that the headline is misleading, all of the things he has mentioned are still continuing.

 

[pallab hazarika]

False, they would have become number one economy

 

[Mav3rick]

May be you should refresh your memory to 1998 when the same corrupt group of Sharif's liquidated $11BN worth of dollar accounts to Rupees. Thats a unique privilege and level of economic decline that Sharifs can take to their grave. Thats a level of bankruptcy that nobody has been able to come close to.

Did you for some reason think that I was defending Nawaz or PML?

My father's income was in USD and our account was frozen. We did get PKR but not at the market rate but rather the interbank rate which was set by the PML Government.