How to wreck an economy

[Champion_Usmani]

https://twitter.com/x/status/1079452392972800000

 

[Pakhtoon yum]

https://twitter.com/x/status/1079615358884110337

https://twitter.com/x/status/1079619874186579968

Really, you're going to do this all over again? Do you have any sense of decency or patriotism left? People like you are snakes that are biting the same hand that feeds them. leave the country if you are so pissed.

 

[Champion_Usmani]

 

[LeGenD]

Do people realize that even basic commodities are becoming expensive? Cost of living for every household is increasing? Fruits of continous devaluation of PKR.

We should give Asad Umar a fair chance, but the sword of accountability should be hung above him. The article have one solid argument; element of uncertainty in Asad's roadmap for fixing Pakistani economic troubles. Their is no time for silly experiments.

 

[shah_123]

Intentions might be good, but PTi is handling economy like monkey with a gun.

 

[Champion_Usmani]

https://twitter.com/x/status/1079287947399217152

https://twitter.com/x/status/1079666717398315008

کیا یہ حکومت نااہل ہے؟یا پاکستانی صنعت سازش کے تحت تباہ کی جا رہی ہے؟اخبارات میں چپھی اس اپیل کے مطابق عمران نیازی کے اقتدار میں آنے کے بعد. ٹریکٹر، کاروں، بس/ٹرک اور موٹر سائیکل کی پیداوار میں بالترتیب ٦٥%، ٣٥%، ٣٠% اور ٣٠% کمی اور ١٢٠٠٠ افراد نوکریوں سے ہاتھ دھو بیٹھے ہیں-

 

[maithil]

Do people realize that even basic commodities are becoming expensive? Cost of living for every household is increasing? Fruits of continous devaluation of PKR.

We should give Asad Umar a fair chance, but the sword of accountability should be hung above him. The article have one solid argument; element of uncertainty in Asad's roadmap for fixing Pakistani economic troubles. Their is no time for silly experiments.

As long as this provides the feel good factor to overseas Pakistanis.

 

[Champion_Usmani]

 

[Sheikh Rauf]

bring back nawaz zardari kaliya of london falzu achakzai and bramdad type murdaron jaisay anday bachay and watch how fast it will wreck.

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i will bring back my money to Pakistan even dollar is going down but i know there is peace.. can you count only bomb blasts in last 10 years. what a awful logic you have.

 

[Champion_Usmani]

 

[Turingsage]

Really, you're going to do this all over again? Do you have any sense of decency or patriotism left? People like you are snakes that are biting the same hand that feeds them. leave the country if you are so pissed.

Blinding the public is hardly patriotism, it is the exact opposite, it is treachery of the highest order.

"Pakistanis" on PDF all living in the West do not face any privations that the actual people living in Pakistan are being subjected to on a daily basis. They can sit in comfort and cheer the PTI as it drags Pakistan into decades of darkness,. Policies conceived now will have repercussions down the years.

PTI loons promised devaluation will result in expanded exports. The truth is different

• Monday, 31 Dec 2018
  
• THE EXPRESS TRIBUNE > BUSINESS

Fall in exports worrying: Charter of economy – the way forward
By JUNAID ZAHID
Published: December 31, 2018
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PHOTO: REUTERS

ISLAMABAD: The charter of economy, in simple words, is national consensus on the core economic agenda in an attempt to develop a far-reaching framework for economic reforms in the country.

The charter should not only be confined to the views of chambers of commerce, it should also incorporate the voice of other important players such as farmers, labourers, technologists and those involved in capital formation.

A list of key regulatory bodies should be drawn up and provided a guarantee that they will be made strong, autonomous and free from political intervention.

Economic priorities may differ from party to party. However, a minimum consensus should be developed in the areas of energy, taxation, water resources, environment, domestic savings, social protection and labour. There should, at least, be consensus to reform and privatise public-sector enterprises.

The China-Pakistan Economic Corridor (CPEC) is critical for Pakistan’s growth and development. All parties should agree on a mini-charter of CPEC in terms of what it entails and how it should be implemented.

Two major indictors of Pakistan’s economy nowadays are government debt and exports. There is a dire need for developing the charter of economy because government debt is increasing with the passage of time and exports are not growing which are critical for strengthening the economy. In the past five years, it has been noted that Pakistan is sinking deep into a debt trap and has not been able to strengthen industries to step up exports.

Exports of Pakistan decreased to Rs246,015 million in November 2018 from Rs248,128 million in October 2018. Exports averaged Rs43,891.75 million from 1957 to 2018, reaching an all-time high of Rs275,483 million in September 2013 and a record low of Rs51 million in April 1958.

According to Bloomberg, “Pakistan’s dollar reserves are depleting at the fastest pace in Asia and may soon have a buffer that’s smaller than Cambodia – an economy that’s less than a 10th of its size.”

Now, in order to increase exports and ease economic pressure, all political parties need to bring in ideas, discuss them and build consensus for implementing them in the short and long run.

Declining exports to the United Arab Emirates, Saudi Arabia, Iran and Turkey, despite having good political relations, are quite worrying. Pakistan needs to revive economic diplomacy in foreign relations. The role and effectiveness of commercial counsellors in improving relations with trading partners is extremely important. For regional cooperation and trade, the strengthening of institutions is a must.

Pakistan adopted a private sector-oriented strategy somewhat earlier than other economies in the region but has not been able to expand exports compared to other economies in the region. Though the contribution of private-sector enterprises is increasing significantly, there is an urgent need to assist private entrepreneurs – who are dynamic, open to innovation and have managerial capabilities – by providing a favourable business environment with good governance, appropriate institutional and financial support mechanisms, an adequate legal and support framework and other physical and social infrastructure.

Government’s role should be confined to legislation, policy development, regulation, capacity building and facilitation with the objective of increasing productivity in all export-focused sectors. The private sector should take the lead in making investment and value chain development on its own.

Pakistan may begin by creating a competitive environment in the labour-intensive production of goods and then gradually progress to more skills and technology-intensive activities. In order to increase exports, first there is a need to increase the production of goods and services in all sectors in general and in exportable sectors in particular.

There is a need to devise policies and strategies to increase production through capacity utilisation, capacity expansion and productivity growth. For capacity expansion, Pakistan needs to diversify the production base in favour of goods and services with comparative advantage, global demand and growth potential. Some of these industries are electronics and telecommunication equipment, automotive parts, biological pharmaceuticals, renewable energy, petrochemicals and aerospace.

Furthermore, as Pakistan’s auto industry is beginning to look efficient, other downstream and upstream industries should be established. Within the textile sector, the production of clothing and value-added products should be expanded.

Finally, productivity growth will come automatically from investment in human capital and promoting innovation.

The writer is a researcher at the Sustainable Development Policy Institute

https://tribune.com.pk/story/1877885/2-fall-exports-worrying-charter-economy-way-forward/

 

[Champion_Usmani]

https://twitter.com/x/status/1079692816262025216

 

[Kompromat]

The economy was wrecked by Noon League and Zardari. You can't blame it on a Govt that's barely a few months old. DAWN & Ummat quoted are Noon and Jamati propaganda outlets respectively so no surprise there.

 

[VCheng]

By saying that we may go to the IMF, or that we may not, or that we no longer need the IMF, the finance minister is stoking the already raging fires of uncertainty regarding Pakistan’s economy. He is fully entitled to opt out of an IMF straitjacket but needs to present a viable option of how he is going to address the growing strains in the economy. His double- or triple-speak, is clearly a reflection of his confusion and inability to find alternatives to bridge the foreign finance gap. The more he procrastinates, the more the damage done. And if by chance, he has found a magic wand which will rescue Pakistan from an inhospitable IMF programme, the sooner he waves it to end this uncertainty, the better.

"How to wreck an economy" is the wrong way to look at this issue. The wreck has already happened.

What is now important is "How to get a wrecked economy back on its feet" and for this, the new government needs some time to fulfill its responsibilities. What is clear is that it will be responsible for any failure to deliver on its stated goals, and of course will also get credit if it succeeds.

 

[Ocelot]

Short term problems. Pakistan will overcome them in a couple of years. This backlash was expected since Pakistanis are mentally weak people and can't sacrifice a bit.