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Pakistan goes to beg IMF.

Not the fault of PML-N. They were put into terrible financial crisis period by PPP and this had to be done. Hopefully the money would be used in the right areas to get the economic growth rate moving and sooner than later, it would be paid back.

what is the targeted economic policy of pmln to curtail or reduce the foreign loans, any section of the revenue to pay debts? what in budget have they allocated or plan to allocate to pay the debts?

To Pay interests actually .

ah, yes........ :frown:
 
A poor decision by administrators who want to shy away from heavy lifting.
@Aeronaut I think you are well aware of the structural deficits in many of the domestic industries of Pakistan which should have been fixed on a priority basis. By doing so they could have started down the path of economic recovery, albeit that it would be an arduous and long journey indeed spanning better part of a decade.

This will only ensure that said deficits will continue to persist while the government tries to create the illusion of relatively higher growth by spending far beyond its means. Oh well crush the people's jugular..
 
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For starters, the millions of dollars just doled out to Hafiz Saeed's shady terror business yesterday could instead have been better utilized to partly pay off Pakistan's loans! Or even procure more transformers and transmission lines to tide over the electricity crisis.

Pakistan's priorities sure seem all mixed up...
 
More debts on the way, first it was PPP who destroyed Pakistan & Pakistan's Economy, now it is PML-N's turn to once again destroy Pakistan & make it worse, which is already worse.

Democrazy in Pakistan is truly corrupt, incompetent & spineless.
 
@Armstrong @Aeronaut

Did the article just hint at discontinuation of subsidies to the energy sector? What do you gauge will be the effect of that?
 
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On one hand they go to imf to beg on the other hand they increase their defence budget give money to hafiz saeed.ohhh...the irony.
 
If you are taking loan to pay interest of old loans....nothing can be bad than this...Pakistan should avoid taking more loans...
 
BTW some of pakistnai where saying we have china for loans we wont need imf n all now what happened to them....
China bailing out Pakistan? You gotta be joking! Pakistan has tried its level best to scrounge easy loans from China over the years but has come a cropper each time! Instead they had to always run to the IMF which doled out $7 billion last year but under strict conditionalities like expanding the tax base, increasing electricity and gas tariffs, ending wasteful subsidies and expenditure etc, which Pakistan has failed to comply with so far.

Thus, this is going to create problems with the IMF, as excuses for non implementation may not work this time. So Pakistan may not even get half of what they're asking for.

It does seem that Pakistan has been caught in a debt trap - borrow more to pay off loans creating more debts requiring more loans.....
dazed-7.gif
 
Nawaz sharif one watch cost Rs 27 cr. ....Pakistan defense budget gone up....for all this Pakistan need money....:D
 
This is happening because dishonesty-unloyal Pakistan citizens doesn't want to pay taxes or improve their country. Foreign Loan will hurt Pakistan for more hundred years without taxes given by us.
Nusrat Javed made a very interesting comment about Pakistani's mentality. On the question of expatriates playing a role in Pakistan's development he made a very interesting note. He recalled the memories of 1998 when India conducted her Nuke tests. He recalled that many expatriate Pakistanis used to call him everyday and ask him that why Pakistan was not conducting nuke tests. They used to tell him,"Our Indian counterparts here taunt us everyday, when will Pakistan respond?". And when Pakistan responded and FC accounts were frozen in a bid to stop the FC outflow, they used to call him and ask,"Why is Government not allowing us to withdraw our money!". He made another a "controversial" (though I would agree to that) comment that its the families of expats which force them to send remittances. Had their families been living with them, they would rather like to have their businesses and bank accounts abroad than Pakistan because for them "Though I miss Pakistan and am worried about it but Pakistan can't give me the things that I have here." They would keep complaining about the problems and the roughness that they receive yet would not be willing to return back.
Similar is the problem for domestic Pakistanis, we will keep complaining about the backwardness, corruption etc but would not be willing to pay taxes on our livelihood. Unless we wont pay enough taxes, government will not have enough to spend upon us. For example, if the Government faces a revenue shortfall, the shortfall is adjusted by government against the development spending. So lesser development spending means lesser growth and thus lesser welfare spending. We all keep telling the government to increase tax-net. Have we ever asked our kins,friends and relatives to register for tax. We want government to do all the things for us.
 
Not the fault of PML-N. They were put into terrible financial crisis period by PPP and IMF option had to be realized. Hopefully the money would be used in the right areas to get the economic growth rate moving positively and sooner than later, they pay the money back.

CB4 brother are you suffering from temporary memory loss this is PML_N 3rd turn.So you might wanna reconsider your statement.
 
On one hand they go to imf to beg on the other hand they increase their defense budget give money to hafiz saeed.ohhh...the irony.

IMF is in the business of giving out loans not AIDS (phun intended) this could hardly be considered begging.
 
IMF is in the business of giving out loans not AIDS (phun intended) this could hardly be considered begging.

not mine but your own countrymen have used the word "beg" and about imf loans..they come with their own conditions what pakistan will end up doing really is begging for relaxation of those conditions
 
@Aeronaut do u have any better idea??when forex reserves are low and theres not much economic activity in the system with lot of debts theres nothing wrong in taking loans..india did the same back in 90 s when we faced the same problem and we managed good later on..taking loan is nothing bad but one must be careful to use it.and u must have a wise govt to do it.things get worse if even now ur govt donot wake up to correct the trade deficit.
 
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