Pak now seeks $1-bn from expats as Forex Reserves drop to 3-year low

[asiaticlion]

Pakistan plans to raise as much as $1 billion from its diaspora in its latest effort to boost foreign-exchange reserves that have dropped close to the lowest in three years.

The government plans to launch an overseas certificate in U.S. dollars and rupees by June to raise between $500 million and $1 billion a year, Zafar Masud, director general of National Savings at the finance ministry, said by phone on Monday. Pakistan seeks bids for financial managers by April 30 for the transaction, he said.

“We were among the only few countries which didn’t have this product for expats,” said Masud. The sale will offer returns “better than what they’re getting in their home markets.”

Pakistan’s economy is facing headwinds before elections in July with foreign exchange reserves dropping at the fastest pace in Asia in the past year. The government also announced an amnesty offer this month that allows overseas Pakistanis to repatriate funds after paying a 2 percent cash tax. Islamabad decided not to issue international bonds after global rates spiked.
Source: defencenews in article Begging-Doesnt-STOP---Pak-now-seeks-$1-bn-from-expats-as-Forex-Reserves-drop-to-3-year-low-547737

 

[Whirling_dervesh]

Thanks pmnl. What happened to this Asian tiger [emoji197]

 

[airmarshal]

But this dishonest and corrupt government will make every effort to deny overseas Pakistanis to vote. They know more than 90% vote will go to PTI.

 

[ziaulislam]

Pakistan plans to raise as much as $1 billion from its diaspora in its latest effort to boost foreign-exchange reserves that have dropped close to the lowest in three years.

The government plans to launch an overseas certificate in U.S. dollars and rupees by June to raise between $500 million and $1 billion a year, Zafar Masud, director general of National Savings at the finance ministry, said by phone on Monday. Pakistan seeks bids for financial managers by April 30 for the transaction, he said.

“We were among the only few countries which didn’t have this product for expats,” said Masud. The sale will offer returns “better than what they’re getting in their home markets.”

Pakistan’s economy is facing headwinds before elections in July with foreign exchange reserves dropping at the fastest pace in Asia in the past year. The government also announced an amnesty offer this month that allows overseas Pakistanis to repatriate funds after paying a 2 percent cash tax. Islamabad decided not to issue international bonds after global rates spiked.
Source: defencenews in article Begging-Doesnt-STOP---Pak-now-seeks-$1-bn-from-expats-as-Forex-Reserves-drop-to-3-year-low-547737

true india begging doesnt stop

 

[xyxmt]

true india begging doesnt stop

dont quote them in their technology, graphs were invented by ancient Indians.

 

[RudraMudra]

true india begging doesnt stop

LOL..... know the difference between Debt and Foreign exchange reserve ?

Notice how the grap Stop BEFORE 2018 ?

This is the news from March 2018.

https://tribune.com.pk/story/1661289/1-pakistans-net-reserves-stands-minus-724m/


Pakistan's 'net reserves stand at minus $724m'


Get it ? Its NEGATIVE. Its MINUS 724 Million $.

In April 2018 , it must be more than 1 Billion $ in NEGATIVE.

 

[ziaulislam]

LOL..... know the difference between Debt and Foreign exchange reserve ?

Notice how the grap Stop BEFORE 2018 ?

This is the news from March 2018.

https://tribune.com.pk/story/1661289/1-pakistans-net-reserves-stands-minus-724m/


Pakistan's 'net reserves stand at minus $724m'


Get it ? Its NEGATIVE. Its MINUS 724 Million $.

In April 2018 , it must be more than 1 Billion $ in NEGATIVE.

i know, but you dont know which one is important, foreign reserves is current account crisis, pakistan is going through what india went through in 2000s during its rapid growth/import phase

do yo want me to post that as well
here we go

this is the 29th time i am posting data..as i expect ether they will run away or will post non sense
see the other half a dozen threads

if govt plays it smart, it can easily ride through it, even if it goes to IMF, its better choice than throwing expensive bonds as india did..either way its fine and by no definition is begging

dont quote them in their technology, graphs were invented by ancient Indians.

well, when i am free i post numbers and most of the well informed Indians simply disappear and thread dies..lol
otherwise they just troll the whole forum

 

[ziaulislam]

the most funny thing, he explain that there is crisis as reserves drop from 21.0 billion dollars to 18.7 billion dollars and than bring out a completely different number from his behind(-728 million, which is completely different variable, india has -tive reserves if we count it that way too)

LOL.... are you stupid ?

You just proved that even though your Deficit has INCREASED, your Foreign Exchange reserve has DECREASED

That is a double whammy.

Your own graph show that Indian deficit is consistently decreasing while our foreign exchange reserve is constantly increasing.

wow..you are in kindergarten..of course it increased but look at india figures in 2012 too...
every economy goes through high import phase

this year Pakistan exports increased in double digits

 

[ziaulislam]

 

[El Sidd]

Haye haye Lütt gaye

 

[ziaulislam]

you conveniently drew a line well below the exports (hint: look at this year export showed a double digit trend)..opps you are in kindergarten

we were in bad books in 1990s and had 50% exports to USA...lol
now its others that we deal with not USA any more 17% is nothing

we are still allies and still have GDP+ excess which india doesnt

All of which came from china.

china is world second biggest economy what do you expect lol

 

[Novice09]

This is not begging... almost every nation issue bonds to arrange funds...

 

[N.Siddiqui]

This is not begging... almost every nation issue bonds to arrange funds...

Makes sense...this is bond or certificate floating for Pakistan diaspora.

“We were among the only few countries which didn’t have this product for expats,” said Masud. The sale will offer returns “better than what they’re getting in their home markets.”

 

[PradoTLC]

india has 600M poor hungry naked people..

 

[Novice09]

india has 600M poor hungry naked people..

I won't say that we don't have the problem of poverty in India... BUT...

I personally knows 3 people who have car, home of approx (30/35 lakh INR), smartphones with every male of family... daily single personal income Rs. 600+...
And they are BPL(Below Poverty Line) card holder... one is a mason, one is a carpenter and one is a car mechanic...

So I feel that the number quoted by you is inflated one...