Mashallah more good news, historical trend upto 15%(decrease) in exports..!

[Riz]

Thank you bajway kuttaaay

 

[ziaulislam]

We are now 80% at default risk..

Pakistan did fine under first default in 1998(just lost 5-10 yrs and opportunity to grow)
It will do fine again.

Aik wari fair nawaz sharif

Thank you bajway kuttaaay

Dont blame him. He believed that people hate IK in early 2022 and he was right

 

[peagle]

Good job by miftah ismail and Ishaq dar. We now see historical trends in exports with 15% change year over year (monthly data) and 1% change for the whole four months of thid year.

Thank for hardwork and service..
You can do better..
The whole nation is rooting for you..
We should be able to acheive the 250b$ target soon
View attachment 898044

Truly shameless.
A country that was displaying all the positive trends, has been put into reverse gear, yet again.

 

[ziaulislam]

 

[epebble]

.,,..,

Edible Oil Imports in Jeopardy After Banks’ Refusal to Provide Dollars​

Jehangir Nasir
Nov 18, 2022

The ghee and cooking oil industry Friday warned severe shortage of the commodity in the domestic market due to the refusal of commercial banks for providing US dollars to the importers of edible oil.

The industry has also hinted at the upcoming crises of the commodity in the local markets of the country.

Sources told Propakistani that the State Bank of Pakistan (SBP) has received a representation of the industry about the alarming situation of the expected shortage of ghee and cooking oil in the local market.

The industry has informed the Governor SBP that Pakistan is largely dependent on imports to the tune of over 90% to meet the national demand for edible oil.

Since mid-September, commercial banks have refused the importers of edible oil for arranging and providing US Dollars, hence, all the imported consignments are stuck-up and foreign suppliers are pressing hard to fulfill the contractual obligations at an early date or face the consequences such as late payment surcharge and cancellation of future shipments.

The ongoing situation is not a healthy sign and adversely effecting/damaging the image of Pakistan in the international trading arena, but may also result in a short supply of this staple food item in the domestic market. The situation is likely to aggravate in the upcoming month of Ramadan.

In view of SBP’s timely intervention and direction to all commercial banks to grant priority and provide USD to edible oil importers is inevitable and direly needed, to avert the looming crises.

The industry feels it most appropriate and its moral and national obligation in pointing out to SBP in time the crises in making and has suggested the direly needed remedy.

That is strange. Preventing food imports will cause social unrest. They should stop importing something else besides food and fuel.

People are finding it hard to pay for kids education in foreign universities. Have to go through hoops to get dollar remittances done. I am concerned we are caught in the spiral that might be difficult to get out of.

That is one expense that can surely wait. Paying for foreign education with scarce resources that are needed for food and fuel is wasteful. Those who want to pay for foreign education will now be forced to think of earning foreign exchange by exporting something.

 

[xyxmt]

neither PMLN not PPP is responsible for this mess, lets call the culprit by name which starts with B

 

[Ssan]

neither PMLN not PPP is responsible for this mess, lets call the culprit by name which starts with B

In fact all of them are responsible. PPP, PMLN and B.

They say that in the conspiracy to kill Julius Caesar in the ides of March, 150 senators signed up, on the day off only 50 senators stood up, Caesar had only 20 stabs on his body, and only one stab of those 20 was critical.

Of course, we all know who is responsible for the critical wound here. But doesn’t mean other actors don’t have a hand in it.

 

[Imran Khan]

safdar ki bewi ka grid to a gya na india se ?

mulk ka kya hai aani jaani chez hai

 

[PakSword]

What I've never understood is - if you have a strong successful economy, you have more revenue, and ultimately more money to plunder. Never understood why they deliberately sabotage the economy. These idiots are the type who slit open the goose that lays the golden eggs.

When government is involved in corruption, forget about foreign investors, even local investors and businessmen sell their assets and settle abroad. That results in a lot of foreign exchange loss, joblessness, and imports get significantly higher than exports.

An economy thrives when there is rule of law, zero tolerance for corrupt practices, security, and plenty of educated or skilled workforce.

Corruption and strong economy are inversely associated. So politicians have to select one of the two. There is no option to select both!

 

[RescueRanger]

 

[maithil]

.,,..,

Edible Oil Imports in Jeopardy After Banks’ Refusal to Provide Dollars​

Jehangir Nasir
Nov 18, 2022

The ghee and cooking oil industry Friday warned severe shortage of the commodity in the domestic market due to the refusal of commercial banks for providing US dollars to the importers of edible oil.

The industry has also hinted at the upcoming crises of the commodity in the local markets of the country.

Sources told Propakistani that the State Bank of Pakistan (SBP) has received a representation of the industry about the alarming situation of the expected shortage of ghee and cooking oil in the local market.

The industry has informed the Governor SBP that Pakistan is largely dependent on imports to the tune of over 90% to meet the national demand for edible oil.

Since mid-September, commercial banks have refused the importers of edible oil for arranging and providing US Dollars, hence, all the imported consignments are stuck-up and foreign suppliers are pressing hard to fulfill the contractual obligations at an early date or face the consequences such as late payment surcharge and cancellation of future shipments.

The ongoing situation is not a healthy sign and adversely effecting/damaging the image of Pakistan in the international trading arena, but may also result in a short supply of this staple food item in the domestic market. The situation is likely to aggravate in the upcoming month of Ramadan.

In view of SBP’s timely intervention and direction to all commercial banks to grant priority and provide USD to edible oil importers is inevitable and direly needed, to avert the looming crises.

The industry feels it most appropriate and its moral and national obligation in pointing out to SBP in time the crises in making and has suggested the direly needed remedy.

How does this help ? If edible oil import is halted, price will surge in market. May lead to social unrest as people will have to pay much more ... Is government looking for chaos ?

 

[xyxmt]

In fact all of them are responsible. PPP, PMLN and B.

They say that in the conspiracy to kill Julius Caesar in the ides of March, 150 senators signed up, on the day off only 50 senators stood up, Caesar had only 20 stabs on his body, and only one stab of those 20 was critical.

Of course, we all know who is responsible for the critical wound here. But doesn’t mean other actors don’t have a hand in it.

NO NO NO

a thief is not responsible if your chowkidar opens the door for them. It has been established that Zardari, Sharif and diesels are corrupts beyond human imagination so putting a blame on them is not fair.

 

[ghazi52]

.,.,
KARACHI: Foreign direct investment nosedived 52 per cent during the first four months of the current fiscal year (FY23), reflecting the poor economic health and political instability in the country.

The State Bank of Pakistan’s latest data issued on Monday showed that the FDI fell to $348.3 million in July-October FY23 from $726.5m during the same period of the last fiscal year (FY22).

The FDI has been declining each year while the volume of investment is also very thin compared to that of regional countries like India, Bangladesh and China. While the main investment is limited to a few sectors, the FDI inflows are limited to a few countries.

The highest FDI of $74.8m came from China during the first four months of the current fiscal year against $99.5m during the same period last year. China has been the biggest investor for the past several years, but its investment has started declining as reflected in the comparative figures for two years.

However, the FDI inflows from the United Arab Emirates increased to $67.6m in the first four months of the current fiscal year from $51.4m during the same period last year. This was the only significant increase in the FDI. A drastic decline in FDI was noted from the Netherlands as it fell to $37.7m from $188m last year. The FDI inflows from Switzerland also declined to $46.6m from $50.9m.

The inflow for electricity and gas was the highest in terms of dollars as it rose to $149m in the first four months of the current fiscal year from $114m during the same period last year, followed by the finance and insurance sector at around $102.7m, but it was significantly lower than $157.2m recorded last year.

A massive decline in the inflow was noted in agriculture, forestry and fisheries as it fell to $8.7m from $154m. Mining and quarrying, manufacturing and information plus telecommunications received $15m, $10.6m and $20.7m, respectively, in the first four months of the current fiscal year against $59.4m, $50m and $79.4m during the same period last year.

Rupee falls against dollar

The US dollar kept its domination in the inter-bank market on Monday while the open market was short of dollars with unreliable exchange rates. The dollar closed at Rs223.66 in the inter-bank market, an increase of 49 paise, from the previous trading value of Rs223.17.

The open market quoted a dollar rate of more than Rs230, but the greenback is not available. The shortage has badly impacted the open market rate. The only reliable rate is coming from the inter-bank market but that too was influenced by the State Bank.

Published in Dawn, November 22nd, 2022