Pakistan economy is on the verge of collapse: Financial Times

[Catalystic]

When will we see the lavish protocols and lavish security end for these elites ?? How much longer can it all last ?
When will their food and luxury budgets be slashed ??

May the wrath of Allah swt be upon ALL corrupt khanzirs in the country regardless of alliances

 

[Bengal71]

When will we see the lavish protocols and lavish security end for these elites ?? How much longer can it all last ?
When will their food and luxury budgets be slashed ??

May the wrath of Allah swt be upon ALL corrupt khanzirs in the country regardless of alliances

Ameen.

 

[PakSword]

From what I know, the people usually get the government they deserve. A country's Government is usually representative of its population.
Do you think if one to pick a sample of AVERAGE pakistanis on the street to lead the country and be in government, they would be any better ?

I fully agree but in Pakistan this government is not representing general public. It is running away from free and fair elections.

 

[Dalit]

When will we see the lavish protocols and lavish security end for these elites ?? How much longer can it all last ?
When will their food and luxury budgets be slashed ??

May the wrath of Allah swt be upon ALL corrupt khanzirs in the country regardless of alliances

This is why Pakistan was created by the Brits. A buffer for illiterate masses and corrupt elites. Pakistan is functioning as intended.

There is no way out for Pakistan. It will always be controlled by the military. The military will always be controlled by outsiders.

 

[Arsalan345]

no way CPEC is reason. Wasn't it Game changer?

Many warned them about the dangers of default but they didn't listen to anyone. Still, they think that CPEC is a game changer. Communist China wanted a bankrupt Pakistan. Now they will buy lands in a cut-price deal. These communists have already bankrupted Srilanka but these fools wanted money and their greed put us in a civil war-like situation.

 

[One_Nation]

Are most people in leadership in government fatalists like this? Why bother since God does all the difficult thinking for us. I have seen Imran Khan lean a bit heavily on the almighty; Is he also a fatalist?

Well this is a prevalent culture but its hard to tell who really believes in it and who does it to fit in. It is safe to say most Pakistanis believe in fate determined by Allah.
IK says that a lot. I doubt he really believes in it. He might be saying it all to be acceptable among the general public.

 

[VCheng]

Its not funny.

What is not funny, the claims, or their inevitability, or their futility?

Pakistan's problems are orders of magnitude larger. Lebanon times 40.

A catastrophic collapse?​

A catastrophic collapse?

The stability and prosperity of Pakistan have been jeopardized by the current economic and political crisis.Political instability since April 2022 and the events that followed it has brought the...

www.thenews.com.pk

As Alfred P. Neuman says, "what, me worry?"

Right. The important thing is for these rigidly backward people to learn right lessons and see what 'Allah deta hai' philosophy does to you.
The more backwards people are the more painful their learning is. This tragedy needs to happen.

It is up to the horse to drink the water that would save its life, others can only do so much. I agree.

 

[ghazi52]

.,.,.,

 

[epebble]

IK says that a lot. I doubt he really believes in it. He might be saying it all to be acceptable among the general public.

This reads like a People magazine story:

'Bushra Bibi Demanded Bani Gala Palace In Haq Mehr, Later Settled For Zaman Park Residence' - The Friday Times - Naya Daur

When asked as to why Nikah was solemnised in such a haste, the former close aide said, on 'divine directives'

www.thefridaytimes.com

But the interesting part is:

On why the Nikah was solemnised in such a haste, Imran’s former aide embarrassingly said, “Bibi told us it was a ‘directive from above’. How could we possibly refuse it then?”

 

[chinasun]

Many warned them about the dangers of default but they didn't listen to anyone. Still, they think that CPEC is a game changer. Communist China wanted a bankrupt Pakistan. Now they will buy lands in a cut-price deal. These communists have already bankrupted Srilanka but these fools wanted money and their greed put us in a civil war-like situation.

Your views are supported by Indians, how much evidence do you have to support your views? What are your suggestions for the future development of Pakistan?

 

[Hecig]

Cost free operation. probably deserved too. Pakistan has done its best anyway. There is no more blood in the turnip.

By any means possible sans cash infusion. Any bill to help directly has zero chance of even getting out of subcommittee, let alone the House or Senate.

Really ? Done its best ? when just a week back you declared Pakistan-based terrorist Abdul Rehman Makki as a global terrorist ?

You have never targeted or squeezed the establishment elite to make them stop terrorism as a state policy.

And you bail out to pakistan will come via IMF and world bank.

 

[epebble]

Really ? Done its best ? when just a week back you declared Pakistan-based terrorist Abdul Rehman Makki as a global terrorist ?

You have never targeted or squeezed the establishment elite to make them stop terrorism as a state policy.

And you bail out to pakistan will come via IMF and world bank.

You should understand Pakistan's political, social and economic problems, before criticizing their imperfections. IMF bailout has very tough conditionalities. It is no walk in the park.

 

[truthseeker2010]

Pakistan economy is on the verge of collapse: Financial Times​

Analysts warn that Pakistan’s economic situation is at risk of following Sri Lanka, says FT report

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News DeskJanuary 26, 2023

Photo: File

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Pakistan’s economy in on the verge of collapse as thousands of containers are stuck up at the seaports due to the severe shortage of dollars, a report published in the Financial Times warned on Thursday.
Analysts warn that Pakistan’s economic situation is becoming untenable and is at risk of following Sri Lanka, where a lack of foreign reserves triggered severe shortages of essential goods and eventually led to a default in May, the British daily said.
The report quoted officials as saying that factories such as textile manufacturers were closing or cutting hours to conserve energy and resources.
The difficulties were compounded by a nationwide blackout on Monday that lasted more than 12 hours. “Already a lot of industries have closed down, and if those industries don’t restart soon, some of the losses will be permanent,” Sakib Sherani, founder of Macro Economic Insights in Islamabad, told FT.
Also read: Pakistan fast heading into economic meltdown
Foreign reserves held by the central bank have dropped to under $5 billion, less than a full month of imports with the federal government remains in a deadlock with the IMF over reviving a $7 billion bailout package that stalled last year.
“Every day matters now. It’s simply not clear what the way out is,” FT qouted Abid Hasan, a former adviser to the World Bank, as saying. “Even if they get a billion [dollars] or two to roll over . . . things are so bad that it’s going to be just a Band-Aid at best.”
Planning Minister Ahsan Iqbal told the Financial Times that the country had “drastically” reduced imports in an attempt to conserve foreign currency.
Analysts said this included restricting banks from opening letters of credit for importers, leading a steel industry body this week to threaten halting production.
The IMF and the PM Shehbaz Sharif-led government are at loggerheads over the former’s demand that Pakistan accepts economic reforms such as raising subsidised energy prices.
“If we just comply with the IMF conditionalities, as they want, there will be riots in the streets,” Iqbal told FT. “We need a staggered programme . . . The economy and society cannot absorb the shock or cost of a front-loaded programme.”

The value of containers at port is worth around 3-4 bil usd.
I don't know how even after IMF will pak able to recover.......

 

[HAIDER]

The value of containers at port is worth around 3-4 bil usd.
I don't know how even after IMF will pak able to recover.......

demurrage charges also another amount. Plus perishable items will face garbage bin.

 

[truthseeker2010]

demurrage charges also another amount. Plus perishable items will face garbage bin.

Demurrage by port has been waived but not by shipping companies. And most importantly their containers have been stuck which is why they are considering to at least reduce services to pk.