Is Asad Umar Finance Minister a failing minister, unable to fix Pakistan economy?

[Syed1.]

What about the elements responsible for the account deficit still in bed with Asad Umar.

What about the reforms or the changes he barked for last 5 years? Has he done even0.001% of what he said pre-July 25?
Patwari or Youthiya, Ishaq Dar managed the issue better than this imbecile Asad Umar which he has confessed himself. On top of this Asad Umar is going to hike electricity prices in 2 days after exorbitant gas prices. PML-N was voted by patwaris but this PTI was voted by urban populations into power.

You didn't answer my question son, what was the current account deficit.

 

[Asian.Century]

Finance Minister Asad Umar is not stepping down

Prime Minister Imran Khan has full confidence in the capabilities of Finance Minister Asad Umar and he is not going anywhere, the information minister said on Wednesday.

Fawad Chaudhry was reacting to media reports claiming that Umar has developed differences with PM Khan and other cabinet ministers. The reports said that Khan holds Umar responsible for the government’s failure at the economic front.

According to Radio Pakistan, the purpose of the negative and baseless propaganda against the finance minister is aimed at destabilising the economy.

“The finance minister is discharging the national duty with full confidence and bringing in use the best of his capabilities,” the information minister said.

He added that Asad Umar has played an important role in stabilising the economy.

There is no economic crisis in Pakistan, says Asad Umar

Finance Minister Asad Umar remarked on Tuesday that Pakistan is not facing any economic crisis.

He remarked that the government has successfully overcome it with the help of friendly countries.

The remarks come a day after the dollar went through a roller coaster ride. It fell sharply by Rs2.5 on Monday morning, only a day after recording its largest intraday gain of Rs9.5.

Related: Left to market forces, the dollar takes a roller coaster ride and falls to Rs137.5

One dollar was trading at Rs137.5 in the opening hours of the interbank market compared to Friday when it peaked at an all-time high of Rs143.5 before settling down at Rs140.3 at the close of market.

On Friday, the State Bank raised its benchmark interest rate to 10%, its highest level in five years. This is the rate on which SBP gives loans to other banks.

Spreading rumours about the national economy would not do any service to the country, Umar remarked.

He said that all the fundamental economic indicators are now improving with exports witnessing an upward trend, while the imports are decreasing.

Related: JW Forland to start producing vehicles in Pakistan

Umar stressed that there will be no compromise on the autonomy of the State Bank. “Pakistan is emerging as a vibrant economy and offers immense opportunities for investment,” he said.

 

[ghazi52]

 

[xyxmt]

Finance Minister Asad Umar is not stepping down

Prime Minister Imran Khan has full confidence in the capabilities of Finance Minister Asad Umar and he is not going anywhere, the information minister said on Wednesday.

Fawad Chaudhry was reacting to media reports claiming that Umar has developed differences with PM Khan and other cabinet ministers. The reports said that Khan holds Umar responsible for the government’s failure at the economic front.

According to Radio Pakistan, the purpose of the negative and baseless propaganda against the finance minister is aimed at destabilising the economy.

“The finance minister is discharging the national duty with full confidence and bringing in use the best of his capabilities,” the information minister said.

He added that Asad Umar has played an important role in stabilising the economy.

There is no economic crisis in Pakistan, says Asad Umar

Finance Minister Asad Umar remarked on Tuesday that Pakistan is not facing any economic crisis.

He remarked that the government has successfully overcome it with the help of friendly countries.

The remarks come a day after the dollar went through a roller coaster ride. It fell sharply by Rs2.5 on Monday morning, only a day after recording its largest intraday gain of Rs9.5.

Related: Left to market forces, the dollar takes a roller coaster ride and falls to Rs137.5

One dollar was trading at Rs137.5 in the opening hours of the interbank market compared to Friday when it peaked at an all-time high of Rs143.5 before settling down at Rs140.3 at the close of market.

On Friday, the State Bank raised its benchmark interest rate to 10%, its highest level in five years. This is the rate on which SBP gives loans to other banks.

Spreading rumours about the national economy would not do any service to the country, Umar remarked.

He said that all the fundamental economic indicators are now improving with exports witnessing an upward trend, while the imports are decreasing.

Related: JW Forland to start producing vehicles in Pakistan

Umar stressed that there will be no compromise on the autonomy of the State Bank. “Pakistan is emerging as a vibrant economy and offers immense opportunities for investment,” he said.

always take opposite meaning of what Gol Guppa Chaudry says.

 

[Clutch]

Is Asad Umar Finance Minister a failing minister, unable to fix Pakistan economy?

Almost everyone is started to notice Asad Umar loud talker policies and plans are not good. He has not done anything drastic except following IMF mantra.

Finance Minister Economic Adviser team is weak and useless, where are the experts and professionals of PTI we have in big number doing to fix Pak economy.

• Tax has been levied against same Salaried Professionals who already pay tax before. No agriculture tax, no rich elite taxed
• Limit of Taxable income has been decreased from 12 lakh to even less than 4 lakh, poor salaried pakistanis are being taxed
• Electricity is becoming more expensive than ever before
• Petrol prices will increase from 1-Oct again
• Gas prices raised again
• Daily item price hike is again increasing
• The so-called mini-budget is actually 10 month budget and its nearly full budget
• The so called poor and salaried professionals have not been given actual relief asper finance minister Asad Umar.

Lastly, Asad Umar was announced Finance Minister 4 months ago, and he has no plan, no homework, and no work done.

Please share your views before Pakistan goes bankcrupt, and exonomy becomes disaster, either remove him or bring more economic and financial professionals in his economic team - PTI seriously need advice and more intense study.

This article is from September... Barely in office 2 weeks and the twit author thinks it's worthy of passing judgement ???

 

[HAIDER]

Is Asad Umar Finance Minister a failing minister, unable to fix Pakistan economy?

Almost everyone is started to notice Asad Umar loud talker policies and plans are not good. He has not done anything drastic except following IMF mantra.

Finance Minister Economic Adviser team is weak and useless, where are the experts and professionals of PTI we have in big number doing to fix Pak economy.

• Tax has been levied against same Salaried Professionals who already pay tax before. No agriculture tax, no rich elite taxed
• Limit of Taxable income has been decreased from 12 lakh to even less than 4 lakh, poor salaried pakistanis are being taxed
• Electricity is becoming more expensive than ever before
• Petrol prices will increase from 1-Oct again
• Gas prices raised again
• Daily item price hike is again increasing
• The so-called mini-budget is actually 10 month budget and its nearly full budget
• The so called poor and salaried professionals have not been given actual relief asper finance minister Asad Umar.

Lastly, Asad Umar was announced Finance Minister 4 months ago, and he has no plan, no homework, and no work done.

Please share your views before Pakistan goes bankcrupt, and exonomy becomes disaster, either remove him or bring more economic and financial professionals in his economic team - PTI seriously need advice and more intense study.

Asad Umer cabinet member now believe he is now socialist , not capitalist anymore. Lot of investor around him are not happy from his policies.

 

[Jungibaaz]

I'm not a supporter of PTI, but it's ridiculous to expect the finance minister to work miracles in a few months. When the negative effects on the economy are in fact the result of the previous government.

A current account and forex crisis didn't just happen overnight or over a few weeks, it's years in the making. And it's stupid and unreasonable to blame the finance minister for it, or expect him to turn this issue around in a matter of a few months.

 

[HAIDER]

I'm not a supporter of PTI, but it's ridiculous to expect the finance minister to work miracles in a few months. When the negative effects on the economy are in fact the result of the previous government.

A current account and forex crisis didn't just happen overnight or over a few weeks, it's years in the making. And it's stupid and unreasonable to blame the finance minister for it, or expect him to turn this issue around in a matter of a few months.

People expecting ages of all foreign debt and circular debt paid off in weeks and months. It takes months only to align the books and debts.

 

[Arsalan 345]

please get rid of him.just sack him.give this post to intelligent person.his statements looks funny sometimes and it always contradict his previous statement.first he said that we don't need imf,than we held talks.now he said that there is no economic crisis.i don't know.i think best solution is to give this post to a good person with knowledge of finance.

 

[Dark-Destroyer]

This is starting to get ridiculous let the goverment complete its bloody 5 year term and shut your bloody mouths simple Pakistanis can tolerate nawaz and zadari but they after 100 days they are crying they are so shameless the blind supporters

 

[jupiter2007]

People, media and opposition should stop expecting miracles. 30 years of neglect can’t be fixed in 125 days. IK is just buying time, we are going to IMF in march.
Asad Umar need at least 24 months to stabilize the economy.

IK governments has done all the groundwork, now it’s time for action.
1) Time to introduce presidential ordinances to push through the government’s legislative and reforms agenda.
2) National Action Plan. (We are in hybrid war situations, all agencies and police should be on high alert. There is a chance of black swan to destabilize Pakistan)
3) Restructuring FBR. Currently these people are just wasting time. They need to focus on big fish and recover the money.
4) using the presidential ordinance to create a new agency/institute to focus on anti-corruption and recovery of stolen money. NAB is doing half *** job.
5) Economy: I) Economic reforms and cut government overhead by introducing e-government. II) increase exports and decrease the imports. (Focus on 4 main things, telecoms, IT, small industries and tourism)
6) Devaluation of power/local body system.

 

[The Accountant]

please get rid of him.just sack him.give this post to intelligent person.his statements looks funny sometimes and it always contradict his previous statement.first he said that we don't need imf,than we held talks.now he said that there is no economic crisis.i don't know.i think best solution is to give this post to a good person with knowledge of finance.

Do you have any knowledge or experience of finance to pass a judgement on qualification of finance minister ?

Its hillarious that people think themselves more competent then professionals like Asad Umar ...

People can disagree with his directions i.e. prioritizing small scale industries than large scale industries but this is a matter of policy and as an elected government policy making is the right of government ...

However, any person having fair knowledge of finance knows that Asad Umar is highly competent person and he is doing his best infact he has done a tremendous job and has delayed the crisis situation at minimum ...

 

[Arsalan 345]

Do you have any knowledge or experience of finance to pass a judgement on qualification of finance minister ?

Its hillarious that people think themselves more competent then professionals like Asad Umar ...

People can disagree with his directions i.e. prioritizing small scale industries than large scale industries but this is a matter of policy and as an elected government policy making is the right of government ...

However, any person having fair knowledge of finance knows that Asad Umar is highly competent person and he is doing his best infact he has done a tremendous job and has delayed the crisis situation at minimum ...

i am also a pti supporter but i am not blind so this discussion is useless.i hope he will find a way to avoid economic crisis.

 

[The Accountant]

i am also a pti supporter but i am not blind so this discussion is useless.i hope he will find a way to avoid economic crisis.

Unfortunately to understand economics and finance you dont need eyes but relevant qualifications which i am sure you dont have ...

So yes its beter to not to debate with u

 

[jupiter2007]

i am also a pti supporter but i am not blind so this discussion is useless.i hope he will find a way to avoid economic crisis.

It doesn't mean jack $hlt, I recognize illogical and stupid stuff from a mile away.
I suggest you first read about economy, understand what it is and what are the dependencies.