Islamabad baffled by IMF moving goalposts

[Imran Khan]

ab wo zamany gaay jab jhoot ol ker pesy pakartty or uraty thy . even finanace minister must be true now .

 

[lightning F57]

PTI did what needs to be done in 2018 reserves were $6 billion left and they took tough decision and when left $16 billion. pti follow simple formula increase export and remittance which pmln fail to do as they never increase export or remittamce in past but kept taking loan


Economy is not a cup of tea for everyone to understand so keep the bughz up

If your an investor/donor where would you put your money. With a stable unified government or a government which was put together consisting of multiple different parties which have been aganst each other for many years many of which have serious corruption cases against them.

Doesn't take a genius to work out how that would affect the economy.

 

[VCheng]

yaeahblike 5 rupees yesterday by pmln and in July 2022 and also take loan of $1.6 Billion to make metro lahore train and run that train on subsidy for ever

Yeeeeeaaah, they have ALL played their part in destroying the economy. Every one of them. No one did what needed to be done, and not even now.

 

[Olympus81]

BS, though, for overseas pakistanis, who visit twice or thrice. and should have incentivized assembly of high-end cellphones as well. but it still much much better than whatever pml*n and PPP have been able to achieve.

There is grace period for people bringing their phones from abroad.

It actually incentivised an assembly. There was actually a unit setup, Samsung being one of them.

https://www.trtworld.com/magazine/can-pakistan-become-the-next-tech-manufacturing-hub-58812

With proper planning, managing imported phone devices, revision of tax policies a perfect boom cycle can be born. This is just one example.

But harami sab khaane peene me lagey huay hai. Pakistanis want instant gratification and don’t want to go through a long arduous process that gives long term benefits to the most number of people.

 

[AZ1]

Yeeeeeaaah, they have ALL played their part in destroying the economy. Every one of them. No one did what needed to be done, and not even now.

what you want pti to do
- Export increase
- Remittamce increase
- Gdp increase

let me know what else economy factor based on?

 

[Zhukov]

What would have pti done in this situation?

Why would PTI be in this situation. PDM created this situation not PTI.
17 Billion $ Reserves in March 2022 to what are the reserves today? 4 Billion $ ?

All this Halabalu and instability they caused.
Why Export dropped from
2.6b$ & 2.8b$ in Jan - Feb 2022 to 2.31b$ & 2.3b$ in Jan - Feb 2023?

If PTI was in this situation then they would have failed already. Like this mixed achar. and there fate would have been the same. Political death.

what you want pti to do
- Export increase
- Remittamce increase
- Gdp increase

let me know what else economy factor based on?

He will reply you with the magic word he always uses with which he wins every argument in his own mind "Whataboutism'"

 

[Olympus81]

If PTI was in this situation the esteemed members of PDF will be cursing IK and Bajwa.

PDM is in this situation so the esteemed members of PDF are cursing Shahbaz and Bajwa.

 

[Jeeten Parikh]

I read somewhere that Pakistan wants to take several hundred millions of IMF bailout and pay China's cpec loan interest. IMF says no to that. China has said they are unwilling to make anymore concessions or loans until prior interest is paid.

Ironbrother turning iron screws

 

[VCheng]

what you want pti to do

Deliver on the promises they make to get elected.

 

[ziaulislam]

tried to widen the tax net, and register transactions above 50k, also demanded that retailers/businessmen will declare all wealth. but shabbar zaidi was fired. at least the pos system was implemented.

He resigned and later came on public TV and said that establishment didn't let me work

It's all over the news retailers meeting general bajwa..

We all know 10% of retail sector is controlled by fowji foundation and they along with bharia and shaheen foundation are exempted from tax

 

[Burger_King]

As I have said before, IMF program is akin to putting bandage on a bullet wound while letting the shooter to roam free.

With respect to this particular program, IMF has put in a requirement that friends of Pakistan have to step up to fulfill USD funding shortfall since IMF loan is largely for signaling purpose. Most resource importing countries have a USD funding requirement which is met by tapping commercial sources i.e. banks and investment vehicles. Pakistan had access to this market until Dollar Dar stepped up to the plate.

Before opening up their purse, investors want too ensure that they will get their money back at the end of the contract. When dealing with Dar, investors know that they are dealing with probably the biggest fraudiya that exists on a global stage. Hence no dice, which in turn explains Pakistan's declining reserves and multiple notch ratings downgrade.

Because Pakistan does not have access to commercial markets, IMF wants friendly countries to take their place. IMF needs this surety because IMF will only get its money back if other entities are willing to lend to Pak. This is a chicken and egg problem because, friendly countries also know that, given Pakistan's precarious position, they run the risk of losing their capital if they lend to Pak.

Pak was in the same situation at the beginning of PTI's term in 2018. Back then, IK and his team managed to convince Saudis, Khaleejis and Chinese to cough up USD6bn which decreased IMF's leverage over Pak. IMF's response was to get Bajwa to fire Asad Umar and appoint Hafeez Pasha who is IMF's man in Pak.

What is different in 2023 is that allies are not willing to do what they did around five years ago. It should be obvious that the Chinese were not happy with RCO which they recognize was against their interest. That ghaddar Bajwa spelt it out himself in so many words. So they are staying on the sidelines. In fact if rumours are to be believed, Chinese have pulled defense attache and close counseler services.

It is incredible to watch the suffering of millions of people due to the greed of a small subset of elite. But the people themselves were taking for a ride by the elite who portrayed Dollar Dar as second coming of Warren Buffet and doofus Nawaz as reincarnation of Salahuddin.

Human actions are impossible to predict. But one fact has stood the test of time. Expect chutya outcomes when you select chutia leaders.

 

[fisher1]

What would have pti done in this situation?

K jis din imran khan nay halp lya 200 Arab Pakistaniyo ka jo bahar para wapis laye ga

Pehlay din 100 arab dollars dunya k moo py marega or 100 arab ap ky upar lagayega

K aglay din Imran Khan oppice jayega or files kolayga hisab khitab……latkawo unko

Alas if PTI ever gets to power though

 

[VCheng]

Human actions are impossible to predict. But one fact has stood the test of time. Expect chutya outcomes when you select chutia leaders.

People only get the government they deserve.

 

[ziaulislam]

As I have said before, IMF program is akin to putting bandage on a bullet wound while letting the shooter to roam free.

With respect to this particular program, IMF has put in a requirement that friends of Pakistan have to step up to fulfill USD funding shortfall since IMF loan is largely for signaling purpose. Most resource importing countries have a USD funding requirement which is met by tapping commercial sources i.e. banks and investment vehicles. Pakistan had access to this market until Dollar Dar stepped up to the plate.

Before opening up their purse, investors want too ensure that they will get their money back at the end of the contract. When dealing with Dar, investors know that they are dealing with probably the biggest fraudiya that exists on a global stage. Hence no dice, which in turn explains Pakistan's declining reserves and multiple notch ratings downgrade.

Because Pakistan does not have access to commercial markets, IMF wants friendly countries to take their place. IMF needs this surety because IMF will only get its money back if other entities are willing to lend to Pak. This is a chicken and egg problem because, friendly countries also know that, given Pakistan's precarious position, they run the risk of losing their capital if they lend to Pak.

Pak was in the same situation at the beginning of PTI's term in 2018. Back then, IK and his team managed to convince Saudis, Khaleejis and Chinese to cough up USD6bn which decreased IMF's leverage over Pak. IMF's response was to get Bajwa to fire Asad Umar and appoint Hafeez Pasha who is IMF's man in Pak.

What is different in 2023 is that allies are not willing to do what they did around five years ago. It should be obvious that the Chinese were not happy with RCO which they recognize was against their interest. That ghaddar Bajwa spelt it out himself in so many words. So they are staying on the sidelines. In fact if rumours are to be believed, Chinese have pulled defense attache and close counseler services.

It is incredible to watch the suffering of millions of people due to the greed of a small subset of elite. But the people themselves were taking for a ride by the elite who portrayed Dollar Dar as second coming of Warren Buffet and doofus Nawaz as reincarnation of Salahuddin.

Human actions are impossible to predict. But one fact has stood the test of time. Expect chutya outcomes when you select chutia leaders.

I don't feel bad for people because the same salahuddin has been selected for 40 years and bankrupted Pakistan 3 times already

First he use to pin it on benazir even though she was mostly clearing up his mess now he wants to pin it on Imran Khan and jiyalas are saying Yay you are right

It's like a woman who loves a abusive man and went he breaks her leg he blames his own father for bringing her to the hospital and runs back to him..

Now people would say no we didn't select ganja..that's not true people in urban Punjab voted for him and a good chunk will still vote for him as they now remember 2015-17 era when he sold Pakistan blood for some money

K jis din imran khan nay halp lya 200 Arab Pakistaniyo ka jo bahar para wapis laye ga

Pehlay din 100 arab dollars dunya k moo py marega or 100 arab ap ky upar lagayega

K aglay din Imran Khan oppice jayega or files kolayga hisab khitab……latkawo unko

Alas if PTI ever gets to power though

What do you think should I send money to Pakistan since it's 290 after 20 rs fall yesterday now or should I wait it to get to 400

 

[Thevilone]

I think its fair by IMF.

One thing I’d like IMF not to budge on is total asset declaration by politicians, bureaucrats, generals, judiciary and listing out of all subsidies they enjoy in public domain.

And 2% transaction fee on all properties being bought or sold as per market rate.

And an annual tax of 0.01% on all properties based on market rate.

In India it's 8% stamp duty on property transactions. High stamp duty not only brings govt lot of revenue but also prevents speculation in property markets leading to unstable prices.

I don't feel bad for people because the same salahuddin has been selected for 40 years and bankrupted Pakistan 3 times already

First he use to pin it on benazir even though she was mostly clearing up his mess now he wants to pin it on Imran Khan and jiyalas are saying Yay you are right

It's like a woman who loves a abusive man and went he breaks her leg he blames his own father for bringing her to the hospital and runs back to him..

Now people would say no we didn't select ganja..that's not true people in urban Punjab voted for him and a good chunk will still vote for him as they now remember 2015-17 era when he sold Pakistan blood for some money


What do you think should I send money to Pakistan since it's 290 after 20 rs fall yesterday now or should I wait it to get to 400

Pakistan's dollar rates are like a test match score., just check every couple of hours and it has increased.

Slowly but steadily, Pakistan is headed for total collapse.

My advice to you woul be to either not send money to Pakistan at the current moment and even if you do make sure it's converted into GOLD bars or buiscuits as soon as practically possible and put it in a bank locker. Once the default actually hits, land prices will hit rock bottom due to panic and bankruptcies. That time you can buy property or plots for cheap using that Gold.

All other investments made in Pakistan will suffer massive hits, be it stocks, FDs, mutual funds or real estate.