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Pakistan’s economy contracts by $33.4 billion: PBS

This is what our aflatoon army high command has done.

I work for a large European asset manager on the emerging market fixed income side. Prior to RCO, my fund had significant exposure to Pakistan. More importantly, someone higher up in my company, on the equity side, got very bullish on Pakistan and launched a Pakistan focussed equity fund just prior to COVID. Based on economic outlook, fund got a very solid interest but then Ishaq Dar appeared on the scene. Since then, fund is down by 30-35% in dollar terms and investors cant get money out. Fund is on the verge of closing down. My company was not the only foreign investment house that was positive on Pak. Another fund which was promoting Pak was Tundra. You can look at their report from 2021.

I know few people who work at high level at multinationals. Given the quality of talent and cheap rates compared to rate in UAE or in India, these people were hiring people in Pak to do midoffice work. All these plans have been reduced to zilch.

The reason India has half a trillion in reserves while Pak has to lick dirty Arab and gora ghand is because India, despite being a country full of crap, is able to attract commercial investment. Under IK, country had taken baby steps on the path that India had taken two decades back. Investors who were willing to help Pakistan have been shot in the foot by Pak army. They will not look at Pak for at least another couple of years and that is the positive scenario based on IK coming back to power. Otherwise enjoy your fate or pray China takes pity. Keep insulting Chinese culture while killing Chinese expats and that route will close as well. Hafiz can take comfort from whisky. What will you do?
 
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These are official figures presented in the NA committee on economic affairs and PAC as well I believe. All done by PBS and Ministry of Finance itself.

Meaning these are the best possible figures. As they have not taken latest census population otherwise per capita income will be far less. Also the exchange rate will be official rate and not the actual open market rate.
 
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I saw the website. It does not look official or reliable.



Shahbaz Rana is pretty reliable for economic news, and is directly quoting the National Accounts Committee.

Doesn't get more official than that I think.

This is not good news for Pakistan, especially considering how poorly the economy is doing.

Meh, we'll just add it to the pile of bad news :P

Pehle hi 100 maslay hain, what's one more.
 
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This is what our aflatoon army high command has done.

I work for a large European asset manager on the emerging market fixed income side. Prior to RCO, my fund had significant exposure to Pakistan. More importantly, someone higher up in my company, on the equity side, got very bullish on Pakistan and launched a Pakistan focussed equity fund just prior to COVID. Based on economic outlook, fund got a very solid interest but then Ishaq Dar appeared on the scene. Since then, fund is down by 30-35% in dollar terms and investors cant get money out. Fund is on the verge of closing down. My company was not the only foreign investment house that was positive on Pak. Another fund which was promoting Pak was Tundra. You can look at their report from 2021.

I know few people who work at high level at multinationals. Given the quality of talent and cheap rates compared to rate in UAE or in India, these people were hiring people in Pak to do midoffice work. All these plans have been reduced to zilch.

The reason India has half a trillion in reserves while Pak has to lick dirty Arab and gora ghand is because India, despite being a country full of crap, is able to attract commercial investment. Under IK, country had taken baby steps on the path that India had taken two decades back. Investors who were willing to help Pakistan have been shot in the foot by Pak army. They will not look at Pak for at least another couple of years and that is the positive scenario based on IK coming back to power. Otherwise enjoy your fate or pray China takes pity. Keep insulting Chinese culture while killing Chinese expats and that route will close as well. Hafiz can take comfort from whisky. What will you do?
Hafiz really doesn't care, he has a different goal altogether, and he is performing wonderfully. These snakes need to be killed, too bad they have all the power.
 
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May 26, 2023 (MLN): The total volume of Pakistan's economy has decreased by $33.4 billion or 8.91%, from $375bn in FY23 to $341.6bn in FY22, according to the data released by the Pakistan Bureau of Statistics (PBS).

Meanwhile, per capita income stood at $1,568 in 2023 as compared to $1,766 in the previous year depicting a decrease of 11.38% YoY, PBS data further revealed.

The current fiscal year marks a decrease of $198 per capita income for Pakistan.

This was the third lowest per capita income in a decade, with the lowest in the decade being $1458 achieved in FY20 due to covid, whereas the highest achieved was $1768 in FY18

On the other hand. in the fiscal year 2021, the per capita income achieved was $1,677.

Health sector improved to 8.49% against the target of 3.8%.

The education sector also improved by 10.44% against the target of 4.9%.

While the performance of the Information and Communication sector exceeded the target of 6% with a growth rate of 6.9%, as stated in the report.



thank you Bajwa you saved us !
 
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I checked DAWN news business section. Still nothing about the Pakistani economy contracting.


Yes, I know, we are only a $400 billion dollar economy with 242 million people.
Pakistan hasn't reached $400 billion and with this contraction Pakistan is barely at $350 billion.
 
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My suggestion is that people like me should take a break and stop reading news related to Pakistan. Everyday brings a new low and there is no recovery expected.

Qazi Faiz will take charge in October and then government will pass a law that will increase the retirement age of only CJP.

Gen. Munir will suggest 4 CCs to NS (if he doesn't go for an extension) and one of them might be Faisal Naseer.

So take a break for at least 10 years. Focus on your career, migrate if possible, get your family out of Pakistan. Help others leave the country as well.

Imran is done as the elections will only be conducted in October when Qazi will be there to hear any election related cases. If PTI is allowed to contest, they will lose any seats won in the elections to PDM in the courts.

People are wasting their time spending hours on social media and then go to bed with either low or high blood pressure.. you guys may get diabetes early in your lives.

Just relax and focus on yourselves.. I have also decreased my social media time to 30-60 mins, and I am now moving towards 0. The day I don't open my twitter is a better day than the one on which I browse social media just once.
 
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My suggestion is that people like me should take a break and stop reading news related to Pakistan. Everyday brings a new low and there is no recovery expected.

Qazi Faiz will take charge in October and then government will pass a law that will increase the retirement age of only CJP.

Gen. Munir will suggest 4 CCs to NS (if he doesn't go for an extension) and one of them might be Faisal Naseer.

So take a break for at least 10 years. Focus on your career, migrate if possible, get your family out of Pakistan. Help others leave the country as well.

Imran is done as the elections will only be conducted in October when Qazi will be there to hear any election related cases. If PTI is allowed to contest, they will lose any seats won in the elections to PDM in the courts.

People are wasting their time spending hours on social media and then go to bed with either low or high blood pressure.. you guys may get diabetes early in your lives.

Just relax and focus on yourselves.. I have also decreased my social media time to 30-60 mins, and I am now moving towards 0. The day I don't open my twitter is a better day than the one on which I browse social media just once.

Yeah, follow stuff or news that you like and mute the word Pakistan.
 
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its ok. that's notional because of USD rates movement. Tomorrow if PKR jumps up to 250 , then economy would have gone up 20%

As long as Our beloved World greatest Army is alive there is not chance of economy going up. If for some reason Economy do start to go up under PMLN they will replace them with Fazlu or even TTP
 
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Just tell Ishaq that if they manage the economy properly, they will have much more to loot.

Wait and see, they'll turn Pakistan into China 2.0.
 
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$33.4 billion contraction is bad but it is the first step. The horror starts from here on after investors flee and avoid Pakistan like a plague.
 
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