IMF demanded immediate privatization two power plants and a steel mill, Sources

[-blitzkrieg-]

If IMF is really serious, it should begin with privatisation of all military run businesses.

Regards

Atleast first know the socalled military corporations .

Most are private already..


You and your small lot here..
Divided by border
United by privatization of army.

 

[KaiserX]

Inshallah IMF will force military mafia to cut down their strength and defense budget aka DHA budget more.

I don't mind if IMF demands to cut down submarines, further J10Cs and other expensive military hardware deals. This is now certain that Pakistan does not face any danger from India since the actual danger is from its own military.

Exactly. There should have been a peace dividend long ago. Especially since we can produce home grown weapons such as nukes. Jf17s, baktar shikans, anzas, ammunitions, etc… in wartime pak can produce almost 90% of its most important weapons.

India does not even have 1/20th the power projection if america yet here we are building a military force that can rival the likes of the Soviets. For what??? Let our economy be strong and prosper, let the poor eat basic meal, let our children be educated so the next generations dont end up like jahils as the previous have already.

The only one who has benefitted most from
This mess has been the military itself. An average military lad has more in assets than someone in the top 10% in europe/US… the craziest part is most of these retirees sell off their lands and move to the west anyways.

 

[RoadRunner401]

They are the single largest tax payers in Pakistan. Some may say their tax bracket should be higher...up to the government, but they pay their taxes to the national coffer without delay.

What is lost on people is that our foundations soften the blow on the government by not relying on it for enhanced support for retired personnel. They provide an avenue for retired personnel (hundreds of thousands) to be gainfully employed and to earn a living given that 95% of the force retires at a prime age of ~40s.

Military Inc. urbanizes wherever its infrastructure goes. It opens up downmarket industries in support of this infrastructure, it opens up schools, colleges and hospitals that in most cases are made available to the people living in what we call "pasmaanda" ilaaqay.

Lastly, military inc. subsidizes our military expenditures by taking on indigenous projects whose beneficiaries are the services. In this way, forex movement outside of the country is preserved. This task would be better suited for private sector, but just like there is very limited IT private sector on account of limited investment, defense industry requires even more investment.

Defense budget Must include Military Pensions going forward no more double dipping, right now retired Military personals draw pensions from the G.O.P separately, one of the conditions set by IMF to which I say Thank you IMF!!!! , Pretty sure MILITARY INC will have to be Privatized NEXT TRENCH.

All 200 plus Money losing crown corporations stuffed with retired and serving Military personals either privatized or Sold.... Not a single tear will be shed when these changes go through...

The serving military leader is also CEO of MILITARY INC explains how a man with this kind of work can manage two different entities? IT Isn't Generals job to Run business they are welcome to start or run business as private citizens which means quit and do as you like, so your whole logic that its creating jobs by doing so is illegal and irrelevant...

Atleast first know the socalled military corporations .

Most are private already..


You and your small lot here..
Divided by border
United by privatization of army.

What ever you say Pinocchio!

 

[Catalystic]

Some indian-lover boys here should just shift to india, since they are sure india isn’t a threat to them…..WITH families ofcourse

Let them go into the butcher’s arms of hindutva…..

So much hate for the forces. Are these indians or Pakistanis? Itna kamzor imaan k inko hindu ache lagte hain? Are they ignorant to what’s happening to muslims in india and in indian-occupied kashmir areas ??

Let the imf take these indian worshippers to india first before anything else. Dekhte hain waha kitna sakoon milta ha inki families ko

 

[Pakstallion]

You are right.

Even if IK wins with majority, the overseas Pakistanis will be very circumspect before investing. Let’s not even talk about foreign investors.

As I mentioned before, I put 35 % of entire liquid assets in RDA shariah compliant NPC. I did it to help Pakistan but also as a hedge for some fixed assets that are halal. It was a good safe return. I took it out in April when IK left as I didn’t trust the government of PDM.

I still have some hope in Pakistan but will not risk my money unless I am convinced we won’t get someone who just kicks democratic gov out and IK is serious about reforms. Pakistan has been pushed back atleast 2-3 yrs from its path by this regime change.

 

[ProblemSolver]

All Fauji and AWT companies pay tax. They employ 70% civies and 30% ex servicemen. These companies were made for ex servicemen so they have something after retirement to sustain themselves.

Same thing with DHA, was made to provide housing for ex servicemen but most customers are civillians. I'm pretty sure the whole thing is self sustaining and profitable, and does its own thing.

 

[SoulSpokesman]

@-blitzkrieg-

Most are private already..You and your small lot here..

Thanks, obviously I dont know as much about military businesses that you Pakistanis do. If indeed Pak is neither overspending on defence, nor there are any hidden assets owned by the armed forces, then there is nothing to worry about.

Regards

 

[SeaMermaid]

IMF wants Islamabad to immediately remove restrictions on imports

Policy-level talks underway between IMF mission in Islamabad, finance ministry officials

www.samaaenglish.tv

Pakistan and the International Monetary Fund (IMF) continued policy talks on Tuesday, where the international lender asked Islamabad to bring foreign exchange reserves up to $16.20 billion by June 30.

SAMAA TV reported that the country’s finance czar is expected to swallow bitter pills to fix the economy on the directions of the IMF.

The IMF has insisted on immediate removal of restrictions on imports, for which $4 billion will be needed to open letters of credit (LCs).

Revision of expenses under review
Finance Ministry officials said that in order to bridge the trust deficit, reduction of expenditure of over Rs600 billion is being reviewed.

The officials said electricity and gas prices will skyrocket due to reduction in subsidies.

They further said all development projects will be made public on the monitoring website phase-wise.

The Pakistan team assured the IMF mission that legislation will be made to make the accountability process transparent.

Policy on foreign loans
A new policy for borrowing and returning foreign loans is yet to be decided. There will also be negotiations on the creation of infrastructure for repayment of circular debt, and a new method of taking and repaying loans from banks in rupees will be implemented.

The Federal Board of Revenue (FBR) said Rs3,965 billion in taxes have been collected in seven months from July 2022 to January 2023.

Officials of the federal tax body assured the IMF mission of meeting the tax target of Rs7,470 billion in the current fiscal year.

 

[SoulSpokesman]

@SeaMermaid

The IMF has insisted on immediate removal of restrictions on imports,

Hain? IMF has been engaged because Pakiland is in a forex crisis. IMF also wants it to increase its forex reserves to USD 16 billion. How is it supposed to increase its forex by actually increasing its imports? Baat kuchh hajam nahin hui!

Regards

 

[SeaMermaid]

@SeaMermaid

The IMF has insisted on immediate removal of restrictions on imports,

Hain? IMF has been engaged because Pakiland is in a forex crisis. IMF also wants it to increase its forex reserves to USD 16 billion. How is it supposed to increase its forex by actually increasing its imports? Baat kuchh hajam nahin hui!

Regards

Pakistan took IMF bailout 27 times in the last 40 years. IMF is saying if i give you another $1 billion now. It won't make a difference without other lenders. Loan might be too risky to give since there might be no path to get that money back.

$4 billion will be needed to open letters of credit (LCs). Just for business as usual to free good trapped in ports.


Also there's this Pakistan says it is due to repay foreign debt and interest worth almost $22 billion over the next 12 months.

Pakistan to repay foreign debt worth $22 billion in 12 months | The Express Tribune

Data shows SBP projects no foreign debt inflows for next 12 months

tribune.com.pk

The breakdown of data suggests the country is to pay off $3.95 billion within one month. In the next three months, it is due to return $4.63 billion and is to repay another $13.37 billion in the last eight months of the period under review.

 

[SoulSpokesman]

Jal pari,

Thanks for the above post. But that still doesnt address my issue. How would increasing imports improve Pak's forex and BOP position?

Regards

 

[epebble]

Jal pari,

Thanks for the above post. But that still doesnt address my issue. How would increasing imports improve Pak's forex and BOP position?

Regards

If you read individual requirement separately, it will sound inconsistent. Only when put together it is coherent policy. Like the blind men and elephant story. What IMF wants is, IMF article of faith: Free market economy, no distortions, no subsidies, no hidden hand on the economic scale. That means, start with a market determined exchange rate. A proper value for that will balance exports and imports evenly. The solution to too much imports and not enough exports is not import restriction or export promotion. It is devaluation to make imports expensive and exports cheaper. Say Pakistan Rupee becomes 500 for a dollar. Automatically, many imports will stop because there will be fewer Pakistanis who can pay 25 million rupees for an imported Volvo (compared to 12 million rupees before). That will also make practically anything produced in Pakistan competitive in international markets so exports will raise. There may even be a surplus of foreign exchange. IMF wants that approach and not taxing imports or subsidizing exports. At 500 rupee per dollar, many people will stop driving cars for pleasure and switch to two wheelers or bicycles. There won't be a petrol shortage automatically. Without the minister threatening prosecution for 'hoarding'.

 

[Riz]

Inshallah IMF will force military mafia to cut down their strength and defense budget aka DHA budget more.

I don't mind if IMF demands to cut down submarines, further J10Cs and other expensive military hardware deals. This is now certain that Pakistan does not face any danger from India since the actual danger is from its own military.

Would love to see cutting the size and wealth of these blood suckers , they should put the ban on selling them any kind of weapons until they not follow the state polices

 

[ziaulislam]

I don't think the military will back IK again. He has burnt the bridges too entirely for there to be any reconciliation. A likely scenario may be military will stay out of the next election choosing the 'none of the above' option, no clear majority due to divided parliament, and we have Groundhog Day all over again. This has been the pattern in crisis prone democracies recently. Israel has had too many elections to count with no clear victor. U.K.'s Tories so ran out of candidates for P.M. that Sunak was the 'Last Man Standing' and was crowned by default. This story has Lebanon written all over it.

Thank god for Military Inc!

If Military Inc. wasn't around, our defense budget would be competing with KSA's ~ 6.5% if not higher.

Instead now it's 3.0% of GDP with all other competitors KILLED OFF via monopoly of military Inc.

Hence no private sector exist..

Half of money from military inc goes to military the other half to private pockets of generals

While the govt and poor people gets nothing since none is allowed to tax them or the system when some tries the army boats them out(like they did with shabbat zaidi)

They are the single largest tax payers in Pakistan. Some may say their tax bracket should be higher...up to the government, but they pay their taxes to the national coffer without delay.

What is lost on people is that our foundations soften the blow on the government by not relying on it for enhanced support for retired personnel. They provide an avenue for retired personnel (hundreds of thousands) to be gainfully employed and to earn a living given that 95% of the force retires at a prime age of ~40s.

Military Inc. urbanizes wherever its infrastructure goes. It opens up downmarket industries in support of this infrastructure, it opens up schools, colleges and hospitals that in most cases are made available to the people living in what we call "pasmaanda" ilaaqay.

Lastly, military inc. subsidizes our military expenditures by taking on indigenous projects whose beneficiaries are the services. In this way, forex movement outside of the country is preserved. This task would be better suited for private sector, but just like there is very limited IT private sector on account of limited investment, defense industry requires even more investment.

Just wow.
What a take on modern economy

 

[Erieye]

Objectively putting GHQ hate aside, what's wrong with military inc given it pays its legal share of tax, and still allows healthy competition in the market?

I understand how it can sound bad - the military owns a conglomerate and hogs large industries, but if its contributing fairly to national tax, following the law, and allowing healthy competition in the market - what's wrong with it?

Even if we privatise by selling it off, the new owner can still be said to have a "monopoly" on their respective industry, no? Over here it's just that senitment of it being the military instead.

@blain2 @ziaulislam @_NOBODY_