IMF sets very tough conditions for Pak to receive bailout package, shows no flexibility

[Indus Pakistan]

IMF was too lenient on the previous Govt. and Ishaq Dar kept fooling them with his accounting tricks and manipulating data, now that they know the reality they're in no mood to show any leniency to the current govt., this time they indeed mean business.

In my view the conditions are fair; if Pakistan wants the program for the last time, they will have to go through the pain. The only fear is whether our subsidy and relief-loving, pampered, fragile awam is prepared to go through the hardship. They'd prefer to die than have any financial discipline. Of course PTI will lose a lot of political capital.

Hammer on nail.

 

[LeGenD]

Imran Khan needs to get tough now. He has been very patient.

We know what is happening in Pakistan. It is daylight robbery. We are not sincere people. We like to pretend that we are patriotic blah blah blah, but we are not. The state of the economy suggests that we are leeches who destroy their own nation with their own hands. We are a corrupt nation. We steal from our own motherland. The mother that keeps providing despite unthinkable abuse.

Time to get tough. Imran Khan needs to start collecting tax and by force. Identify the crooks. Name them and shame them. Put them through judicial misery. Confiscate their assets. Every living soul in Pakistan has to pay tax according to their wealth and earning. If not, impose fines. Enough of this banana republic BS.

Oh merey bhai,

GOP collect lot of funds from the public through indirect and direct channels - automatic deductions from fixed salaries of employees in numerous organizations (income tax), commodities (sales tax), imports/exports (customs), utility bills per household, and through administrative activities in relation to provision of public services across Pakistan. Now they are taxing property-related matters as well.

What is next? Taxing for breathing oxygen?

People should be realistic, and not issue blanket statements. GOP should focus on unmasking real thieves and take action against them. A large number of people do not owe a dime to GOP besides what they are already paying. Money doesn't grow on trees, mind you.

Taxation is just a part of the game - one source of revenue generation. Smart governance; Industrial revival; Employment opportunities - these should be top priority.

 

[Zee-shaun]

imf should be last choice man

This is our last choice. We have already exploited all workable alternatives.

 

[Proudpakistaniguy]

The pre-election claims of PTI experts having conducted thorough studies of the countrys economic problems and thrashed out solutions have turned out to be a part of an elaborate hoax. The leadership was simply clueless about the most important economic issues. It had only slogans and it relied on empty promises to come to power

It was maintained before elections that people were unwilling to pay taxes to a corrupt government. With Imran Khan in power, every citizen with taxable income will voluntarily pay the dues. This simplistic approach led to FBR falling Rs 318 billion short of its tax target.

The economy continues to experience a severe balance of payment crisis of around $1billion every month. This has already squandered the $4 billion credit from the UAE and Saudi Arabia. By the time a deal with IMF is reached, the $2 billion Chinese loan would also have been consumed. Imran Khan is reportedly fed up with his economic team. But he has no option.

 

[Crusher]

It is a charade that Nawaz Sharif and Zardari are still walking alive. That is the real charade.

OK mr. dutch, but don't forget mushy the badmash.

 

[Shane]

It's so hilarious to read the anti PTI dimwitted keyboard warriors who lived through decades of loot and plunder riddled absolute MUGHLIA RULE but can't stand a few months of new Government.

The greatest trick the devil ever pulled was convincing the people it did not exist.

The masterful deceivers as in PMLN with the help of sold out media and it's suddenly economic expert anchors have largely made the people think that it is all due to PTI's mismanagement that the economy is in such dire condition.

Make no mistake, even the notion of an economic fix PROMISED BY PTI was to the leadership of PMLN in itself so hilarious...because they knew the actual economic condition was already bleak as their own postponed /rescheduled debt repayment was about to start.

The quick fix notion sounded attractive but was not the reason PTI voter voted but to get rid of the ones experienced in corruption...since the common PTI voter is largely new, educated, disgruntled from others and younger lot.

On another hand, the PPP voter, but even more so, PMLN supporter is driven by years of passionate affiliation rather than logic to have elected the same again and again PM e.g. who's economic wealth multiplied 700 times in just the first year of his power in 1992-93. (According to data submitted by Sharif family in SCP) the rest is even more of a shameful history.

Back to the future...Ask the care taker Government in-charge before the election, they said that the coffers are empty and literally needed funds from China to run the affairs of caretaker Government. That's how bad the things were and are, Pakistan was on the verge of default if IK hadn't managed to secure economic packages from Saudi, Emarati and Chinese.

Do the average PMLN Supporter realize that their beloved rescheduled debt repayment and amassed unprecedented debt on top so that the next in line, all but drowns in debt repayment...and they get back in power by accepting...at most what?...American agenda in exchange of economic aid to accept India as the regional station chief (win win for Sharif family already business partner of India plus all cases gone and Army is put back in its place as bonus)

Other than the huge principle amount, Just the interest to be payed back of the last 10 years debt upon debt that has matured now amounts to 7 billion daily...just the interest... 7 Billion daily X 30 X 12...that's just the interest of a mammoth economic crater PMLN left Pakistan in. Get your heads around it.

Kudos to our Sold out media and Experts who have made people believe economic recovery can be achieved without making extreme sacrifices and extreme economic hardship by just removing IK and re installing the experienced corrupt, lol. The very reason that all the lesser needed but trophy projects like metro and orange train were done against high interest borrowing.

@PakSword @Path-Finder @Farah Sohail @AgNoStiC MuSliM The solution is to not only hold them accountable but make the corrupt sleezebags return the looted dough. There are solutions and the Government must improvise but with the help of establishment and judiciary.

 

[Moonlight]

Time to Kick Niazi out

Yeah just in 8 months he has damaged Pakistan so much with 0 corruption. We should must kick him out.

I stand with you.

 

[Lucky Breeze]

-بیچا رے نیا زی کو دال تو ملی مگر جو تی میں

 

[Moonlight]

Kudos to our Sold out media and Experts who have made people believe economic recovery can be achieved without making extreme sacrifices and extreme economic hardship by just removing IK and re installing the experienced corrupt, lol. The very reason that all the lesser needed but trophy projects like metro and orange train were done against high interest borrowing

I could only bear this media for one week after the elections. I have stopped watching news channels.
Paid baboons.

 

[AgNoStiC MuSliM]

Oh merey bhai,

GOP collect lot of funds from the public through indirect and direct channels - automatic deductions from fixed salaries of employees in numerous organizations (income tax), commodities (sales tax), imports/exports (customs), utility bills per household, and through administrative activities in relation to provision of public services across Pakistan. Now they are taxing property-related matters as well.

What is next? Taxing for breathing oxygen?

People should be realistic, and not issue blanket statements. GOP should focus on unmasking real thieves and take action against them. A large number of people do not owe a dime to GOP besides what they are already paying. Money doesn't grow on trees, mind you.

Taxation is just a part of the game - one source of revenue generation. Smart governance; Industrial revival; Employment opportunities - these should be top priority.

Good points about indirect taxation, which brings up a follow up - we know the average Pakistani is paying indirect taxes in several ways, but are there any statistics (or research) on whether all of that indirect taxation goes back to the government?

 

[mzain]

Now people will and so called experts now saying Govt should go to IMF earlier. First they were saying look govt going to IMF.

By the way thank you PMLN and PPP supporters for making Pakistan in current great situation.

It's called democracy

 

[Crusher]

There is always a final solution in pakistan's hand, just declare the bloody default once and for all, pakistan wouldn't be the first country to declare default, they should just do it and get over with it.

 

[AgNoStiC MuSliM]

Maybe not do a 126 day long dharna causing Pakistan 2% in GDP? How about not promising paradise and shrinking Pakistan's GDP by $35 billion in just his first 8 months? Or, not punch Pakistan's GDP Growth Rate to 2.7% from 5%?

And why move on? Why not simply get lost and let the experienced run the country which had significantly improved in just short 5-years.

Do you seriously think these problems just magically occurred in 8 months? The PTI warned of this and economists warned of this problem at the beginning of the PTI term. Other economists were warning of this a year before the elections.

Such a crisis doesn’t just develop in a few months. All that ‘show sha’ growth that the PMLN was showing is part of what led to this problem. Pakistan’s middle class was booming so keep the ruppee artificially devalued so they consume more, increased consumption was satisfied by increased imports. The domestic industry and exports did not keep pace with imports, revenue collection was not improved and eventually what did you think was going to happen? The PMLN would be in this exact same situation right now.

 

[WAJsal]

Do you seriously think these problems just magically occurred in 8 months? The PTI warned of this and economists warned of this problem at the beginning of the PTI term. Other economists were warning of this a year before the elections.

Such a crisis doesn’t just develop in a few months. All that ‘show sha’ growth that the PMLN was showing is part of what led to this problem. Pakistan’s middle class was booming so keep the ruppee artificially devalued so they consume more, increased consumption was satisfied by increased imports. The domestic industry and exports did not keep pace with imports, revenue collection was not improved and eventually what did you think was going to happen? The PMLN would be in this exact same situation right now.

Most of the people here don't understand the urgency of our problems and they only want quick short-term results. Do people forget what this government did to keep us from defaulting. 'mehengaey mehengaey'...People need to be patient and give IK and his team the time they deserve. In my personal opinion, I would suggest the government to take extreme measures if needed, we as a nation can surely suffer for a few more years.

 

[Wa Muhammada]

What is the net worth of PIA? What if we privatise it? Desperate times call for desperate measures. The endian lobby at play here clearly.

I kind of agree with you...and I think we should privatise other states entities which are run poorly...but the buyer should be local or to companies from friendly countries

Pakistan has been to the IMF many times but this time things look desperate.

If possible, Pakistan should avoid IMF all together. It is going to be tough and certain areas of the economy are going to suffer.

Fix tax evasion and start hunting the big fish who don't pay their taxes. IMF is just a temporary go to guy. It is not a solution.

Asad Umar needs to quit the IMF mantra now. Focus on fixing the tax evasion crisis and other measures that should immediately trickily some cash into the treasury.

Also, focus on Nawaz Sharif and Zardari. These two have plundered Pakistan. Make them beg for mercy. Torture them, kidnap their family and hang them upside down. I don't care what it takes. Make them squeal. We want the stolen money back.



It is funny you say that considering how you go on to blame the establishment in the same breath. Aren't you also part of the blame brigade?

Establishment didn't rule Pakistan in the past decade or so. Nawaz Sharif and Zardari did.

I honestly think it’s time to get savage with the likes of NS & Zardari and their ilk....we want our money back now or else