Pakistan to approach IMF for a bailout, Asad Umar announces

[ziaulislam]

Sir federal have given sovereign guarantee for thar coal, what else do you want? Rest is loan, Sindh gov isn't putting its own penny in it. LNG was cheaper and environment friendly. Speculation on oil price will end soon and it should crash back to $50.

In PPP era population was much less and so were imports. Now remittances haven't kept up with imports and exports are not growing. PTI need to go after actual thief and defaulters in power sector.

correct federal govt gave sovereign grantee but engro is small co operation it has to rise 25% equity, which it did but the process is going to be slow as it cannot rapidly rise equity for 4000MW..so far it has from 4x330MW projects

govt invested over 400 billion rupees on LNG, the decision wasnot wrong but today we would have less issues if that 400 billion rupees had gone into coal...

yes oil might drop, it might not drop...

originally PML N wanted coal, and they started jiwani coal project it was scrapped for two reasons
1. lack of any investment by investors
2. lack of any advancement on transmission lines

if govt taken initiative than and there and invested them selves, it wouldnt have needed GE turbines or LNG plants...

 

[BATMAN]

gullu butt probably can't read, but he can be educated with such tools and after can beat the financial consultants of Donkey Kingdom.

 

[ziaulislam]

correct main issue is exports and remittances

hopefully, the export oriented thinking of PTI will help recovery, espeically in textile sector as they have agreed to all demands of exporters(gas, electricity prices, uniform prices) and labour has gotten cheaper too

current devalaution should also be looked into regional prsepectives, most regional countries have lost 15-20% in last 1 year including india, 20$ of 110 is 132 rupees ..
rupee will probably float around 135-140, as IMF will aim for over correction...

the problem with not goign to IMF is that its chain reaction, no body else gives you any credit, everyone is afriad of default..

i hope PML N learn from two consecutive mistakes of 1998 and 2018 and when they are in power in next time they dont repeat same mistakes

 

[BATMAN]

correct main issue is exports and remittances

Exports without industry and industry without electricity and electricity on gas and petrol will reverse every thing... yes hydal /solar energy can help but we have no policy on those 2 sources of energy.
Actually tell me who's the minister of AEDB, i'm very keen to monitor his performance.

Remittances!!!... Reza Rabbani will veto all Arab remittances? So next countries where Pakistanis are granted work visa are ?????

 

[Zarvan]

https://www.facebook.com/

 

[ziaulislam]

Exports without industry and industry without electricity and electricity on gas and petrol will reverse every thing... yes hydal /solar energy can help but we have no policy on those 2 sources of energy.
Actually tell me who's the minister of AEDB, i'm very keen to monitor his performance.

Remittances!!!... Reza Rabbani will veto all Arab remittances? So next countries where Pakistanis are granted work visa are ?????

actually pakistan is well poised than similar countries
1. textiles..we make all the raw material but had gas, electricity and labour expenisve, the curent govt has solved all three issues immediately unless IMF forces it to reverse that decision but it will not as IMF focus on broader issues
2. agriculture, increase food production in some sectors like, edible oil, pulses and tea, fresh vegetables and processing and packaging, meat and milk
3. pharma
4. IT

these are low hanging fruit and you can hit 40-50 billion easily in next 5 years beyond that will be an issue

 

[bafxet]

If you have another option to avoid default then do tell.

So all those years when in opposition they were fooling the whole nation by criticizing NS. Besides this is a fact that I he gave a colossal loss to Engro..

 

[Kabira]

correct main issue is exports and remittances

hopefully, the export oriented thinking of PTI will help recovery, espeically in textile sector as they have agreed to all demands of exporters(gas, electricity prices, uniform prices) and labour has gotten cheaper too

current devalaution should also be looked into regional prsepectives, most regional countries have lost 15-20% in last 1 year including india, 20$ of 110 is 132 rupees ..
rupee will probably float around 135-140, as IMF will aim for over correction...

the problem with not goign to IMF is that its chain reaction, no body else gives you any credit, everyone is afriad of default..

i hope PML N learn from two consecutive mistakes of 1998 and 2018 and when they are in power in next time they dont repeat same mistakes

There is maybe more scope in remittances growth as well if Pakistan can get rid of hundi. This is one condition of FATF as well to get off gray list.

correct federal govt gave sovereign grantee but engro is small co operation it has to rise 25% equity, which it did but the process is going to be slow as it cannot rapidly rise equity for 4000MW..so far it has from 4x330MW projects

govt invested over 400 billion rupees on LNG, the decision wasnot wrong but today we would have less issues if that 400 billion rupees had gone into coal...

yes oil might drop, it might not drop...

originally PML N wanted coal, and they started jiwani coal project it was scrapped for two reasons
1. lack of any investment by investors
2. lack of any advancement on transmission lines

if govt taken initiative than and there and invested them selves, it wouldnt have needed GE turbines or LNG plants...

You forget the fact that financing for environment friendly LNG plant was easy to get compared to coal plants. And prices at that time were right not to forget Pakistan desperately needed to add 10k MW in quick time.

Thar will get to 4000 MW by 2025 in best case scenario.

 

[pzfz]

Inalillahe wa ina ilahi rajioon. This man will be pti's downfall. Reminds me of that book 'the economic hitman.' Pehlay engro ka kabara nikala tha ab Pakistan ka nikalna chahta hai. ghalat advise kar raha hai yeh Khan ko!

the economic hitman is for stupid people.

 

[Knight Rider]

No Quick Solution for this 91 billion dollar problem and the IMF loan will make it worse. When you appoint a fool as Finance Minister this will happen.

Only Solution lies is to get the money back from the corrupts.

 

[Sugarcane]

So all those years when in opposition they were fooling the whole nation by criticizing NS. Besides this is a fact that I he gave a colossal loss to Engro..

You didn't answer the question

 

[shah_123]

https://twitter.com/x/status/1049966832919240704

 

[wali87]

the economic hitman is for stupid people.

Going by your standard of stupid, Asad Umar seems to be the biggest stupid alive. Since he’s mentioned John Perkins and his book several times in his tweet.
So tell me which book is not for stupid people, your A levels economics book? Do some research before you speak.. making a fool of yourself

 

[ziaulislam]

There is maybe more scope in remittances growth as well if Pakistan can get rid of hundi. This is one condition of FATF as well to get off gray list.



You forget the fact that financing for environment friendly LNG plant was easy to get compared to coal plants. And prices at that time were right not to forget Pakistan desperately needed to add 10k MW in quick time.

Thar will get to 4000 MW by 2025 in best case scenario.

Right ..LNG financing is easy..
Time was not the issue both can be setup in similar time frame
Issue is cost/circular debt rather than 10,000 demand alone

 

[pzfz]

Going by your standard of stupid, Asad Umar seems to be the biggest stupid alive. Since he’s mentioned John Perkins and his book several times in his tweet.
So tell me which book is not for stupid people, your A levels economics book? Do some research before you speak.. making a fool of yourself

I'd sit this one out. You sound like a conspiratorial nut who whips out this childish book whenever something about economics and finance comes up. Asad Umar is a novice when it comes to economics. Business management, that's more him.