Pakistan reports massive current account surplus of $654mn in March

[salarsikander]

This shows that wherever Patwris Live they will always be brain dead monkey like you @FOOLS_NIGHTMARE

 

[PakFactor]

This government has literally choked economic growth. Maintaining a surplus in such circumstances is hardly impressive. In fact it's the opposite and the IMF certainly won't be buying into this as some sort of economic miracle by Dar. Anybody with a basic sense of economics knows that "Daronomics" is pure hocum and nonsense, an accountant trying to fool the nation and the IMF into believing he is something more than a clown.

“In the long run, the surplus is unsustainable because if Pakistan opens its economy, imports will rise and the deficit will return,” he said. “We are an import-oriented nation.”

“To maintain the surplus, we will have to keep the economy choked,” he said."

Pakistan reports massive current account surplus of $654mn in March

This is the first surplus on a monthly basis since November 2020 when the pandemic brought global economy to a standstill

www.brecorder.com

Seeing some comments on this thread, people still fail to see the bigger picture. You choke the economy to get surplus; no economist worth his salt would praise this.

 

[Krptonite]

Yes.
And often 'Words of Wisdom' come from those who are 'enemies'. We all often run the risk of babbling in our echo-chambers.
And you are right: Pakistan has a great advantage of most of the population living along a narrow corridor of Indus River.

Have i given you cause to think I'm your enemy?

Or were my points percieved as malicious?

I cannot understand the untowed hostility over a valid point.

 

[SD 10]

With a projected gdp growth of 0.5%, and a rising inflation.... good job pmln monkeys!

 

[TheDarkKnight]

What a good analogy.

This is on the back of import decline which has crippled Pakistan's manufacturing, as well as increased taxation on basic necessities which the common people can no longer afford.

Yup:

C/A surplus is no reason to celebrate​

Businessmen say current account surplus ‘manifests a massive economic contraction like never before’

C/A surplus is no reason to celebrate | The Express Tribune

Businessmen say current account surplus ‘manifests a massive economic contraction like never before’

tribune.com.pk

 

[HAIDER]

My friend went to bank to cash his check ...clerk said, we can't cash the check, write your name in this waiting list. We will inform you .......................................................... wtf is going on ...

 

[Neelo]

Its like celebrating weight loss of a terminally ill patient …

This is the perfect analogy…

 

[maithil]

My friend went to bank to cash his check ...clerk said, we can't cash the check, write your name in this waiting list. We will inform you .......................................................... wtf is going on ...

Banks running out of local currency? Time to panic..

 

[Mrc]

Surplus used to be something to cherish when it happened in PTI tenure

 

[Bilal.]

Surplus used to be something to cherish when it happened in PTI tenure

It was not artificial by defaulting on LCs and shutting industry. The industry was growing at historic rate, the agriculture was growing at historic rate and still there was a surplus. Tax collection was beating the target not falling short. That’s sustainable not artificial.

 

[Mrc]

It was not artificial by defaulting on LCs and shutting industry. The industry was growing at historic rate, the agriculture was growing at historic rate and still there was a surplus. Tax collection was beating the target not falling short. That’s sustainable not artificial.

PTI also ran the surplus when industry was shut down
The minute they opened up current account went into historic deficit.

Key to pak economy is to manage to go into growth without going into deficit

Unique Issue here I think is low tax base and undocumented wealth leads to insatiable demand for imported goods minute u open up the economy

 

[Bilal.]

PTI also ran the surplus when industry was shut down
The minute they opened up current account went into historic deficit.

Key to pak economy is to manage to go into growth without going into deficit

Unique Issue here I think is low tax base and undocumented wealth leads to insatiable demand for imported goods minute u open up the economy

I don’t remember it that way. The industry, agriculture and export growth was on before the CAD turned negative.

It turned negative after the consumption promotion policy was put in place towards the end.

In the previous year it was positive but turned negative towards the end of the FY due to some large “strategic” payments, no details were given for obvious reasons.

 

[Mrc]

I don’t remember it that way. The industry, agriculture and export growth was on before the CAD turned negative.

It turned negative after the consumption promotion policy was put in place towards the end.

In the previous year it was positive but turned negative towards the end of the FY due to some large “strategic” payments, no details were given for obvious reasons.

It was positive during COVID only when everything was closed down.
Even when we import raw materials local demand is so high that finished products don't get re exported but get consumed locally hence the gap

 

[ARMalik]

It is pure disinformation by the Military Junta --- more like a "Dead Cat Bounce".

 

[Mrc]

It is pure disinformation by the Military Junta --- more like a "Dead Cat Bounce".

Sure
And you know the truth