Pakistan's Economy - News and Updates

[fatman17]

Nuclear energy becomes top electricity source for Pakistan

ISLAMABAD/KARACHI: Nuclear energy became Pakistan’s top power source for the first time, as it met over 27 percent of the country’s energy demand in December 2022 at a cost of less than...

www.thenews.com.pk

 

[ghazi52]

Pakistan Used to be a proper country...

 

[SeaMermaid]

The IMF found an over Rs 2000 billion (Rs2 trillion) breach in budgetary estimates for 2022-23 in its initial assessment that might result in escalating the budget deficit and primary deficit targets with a massive margin

 

[epebble]

The IMF found an over Rs 2000 billion (Rs2 trillion) breach in budgetary estimates for 2022-23 in its initial assessment that might result in escalating the budget deficit and primary deficit targets with a massive margin

'Bookkeeping' issues have been a major bone of contention between IMF and Dar. Pakistan's bookkeeping is so sloppy that most Pakistanis including the government don't believe in it. Generally, this is sugarcoated by saying much of Pakistan's economy is 'undocumented' or 'underground'.

 

[SeaMermaid]

this is sugarcoated

Looks like IMF is tired of sugarcoating

 

[SeaMermaid]

The 2022 year saw political turmoil, an economic crisis, and catastrophic flooding in Pakistan. On the economic front, the country has been dealing with backbreaking inflation, a depreciating currency, and precariously low foreign reserves. As Pakistan looks to address these challenges in a turbulent moment, important questions arise as to the long-term roots of these problems, how political instability shapes them, and what economic policy Pakistan should adopt to address its difficulties.

Blackouts and soaring prices: Pakistan's economy is on the brink

Muhammad Radaqat, a 27-year-old greengrocer, is worried. He doesn't know how much an onion will cost next week, let alone how he'll be able to afford the fuel he needs to heat his home and keep his family warm.

edition.cnn.com

Bloomberg - Are you a robot?

 

[Clutch]

The 2022 year saw political turmoil, an economic crisis, and catastrophic flooding in Pakistan. On the economic front, the country has been dealing with backbreaking inflation, a depreciating currency, and precariously low foreign reserves. As Pakistan looks to address these challenges in a turbulent moment, important questions arise as to the long-term roots of these problems, how political instability shapes them, and what economic policy Pakistan should adopt to address its difficulties.

Blackouts and soaring prices: Pakistan's economy is on the brink

Muhammad Radaqat, a 27-year-old greengrocer, is worried. He doesn't know how much an onion will cost next week, let alone how he'll be able to afford the fuel he needs to heat his home and keep his family warm.

edition.cnn.com

Bloomberg - Are you a robot?

I call it poetic justice....

 

[Chute]

I'd like to know if @SQ8 and @VCheng have watched this yet and if they have any comments regarding it (both of you have contributed a lot that I have read here at length.... so maybe this is just a summary of it all).

 

[VCheng]

I'd like to know if @SQ8 and @VCheng have watched this yet and if they have any comments regarding it (both of you have contributed a lot that I have read here at length.... so maybe this is just a summary of it all).

I have not watched it yet, but will do so as soon as I find a suitable block of time.

 

[SQ8]

I'd like to know if @SQ8 and @VCheng have watched this yet and if they have any comments regarding it (both of you have contributed a lot that I have read here at length.... so maybe this is just a summary of it all).

Just experienced and qualified people explaining why the economic crisis will continue to be unless Pakistanis suffer a lot lot more for at least a decade or two to make amends for the excess and lies of their leaders including the PTI government which was nothing more than a mix of bravado statements and false promises. Quite simply, the Pakistani leadership has turned the people into a collective of stockholm syndrome and alternative reality delusional cultists who simply refuse to accept reality and when it does come for them immediately want a change of leadership. This leadership isn’t just political but military as well which because of its general lack of expertise in most subjects beyond its core competence but still trying to control a lot of things bumbles throughout in trying to have its cake and eat it too.

Everyone knows the solution - people need to suffer $300 per liter fuel, food prices through the roof and everyone pays taxes for at least 5 years constantly to start collecting funds while somehow industry has to be propped up to export something that deposits funds other than just expats. But these are very simplistic guidelines for what is a systematic socioeconomic overhaul of society which only a an acclaimed strongman like ataturk can accomplish. Democracy is wasted on the Pakistani for this current scenario

 

[ghazi52]

.,.,.

 

[Chute]

Just experienced and qualified people explaining why the economic crisis will continue to be unless Pakistanis suffer a lot lot more for at least a decade or two to make amends for the excess and lies of their leaders including the PTI government which was nothing more than a mix of bravado statements and false promises. Quite simply, the Pakistani leadership has turned the people into a collective of stockholm syndrome and alternative reality delusional cultists who simply refuse to accept reality and when it does come for them immediately want a change of leadership. This leadership isn’t just political but military as well which because of its general lack of expertise in most subjects beyond its core competence but still trying to control a lot of things bumbles throughout in trying to have its cake and eat it too.

Everyone knows the solution - people need to suffer $300 per liter fuel, food prices through the roof and everyone pays taxes for at least 5 years constantly to start collecting funds while somehow industry has to be propped up to export something that deposits funds other than just expats. But these are very simplistic guidelines for what is a systematic socioeconomic overhaul of society which only a an acclaimed strongman like ataturk can accomplish. Democracy is wasted on the Pakistani for this current scenario

Mr. Uzair Yunus brings up some good details here as well:

@VCheng

 

[epebble]

Just experienced and qualified people explaining why the economic crisis will continue to be unless Pakistanis suffer a lot lot more for at least a decade or two to make amends for the excess and lies of their leaders including the PTI government which was nothing more than a mix of bravado statements and false promises. Quite simply, the Pakistani leadership has turned the people into a collective of stockholm syndrome and alternative reality delusional cultists who simply refuse to accept reality and when it does come for them immediately want a change of leadership. This leadership isn’t just political but military as well which because of its general lack of expertise in most subjects beyond its core competence but still trying to control a lot of things bumbles throughout in trying to have its cake and eat it too.

Everyone knows the solution - people need to suffer $300 per liter fuel, food prices through the roof and everyone pays taxes for at least 5 years constantly to start collecting funds while somehow industry has to be propped up to export something that deposits funds other than just expats. But these are very simplistic guidelines for what is a systematic socioeconomic overhaul of society which only a an acclaimed strongman like ataturk can accomplish. Democracy is wasted on the Pakistani for this current scenario

Using internet terminology, TL;DR. Pakistan appears to have a huge capacity for self-deception and self-delusion. Thinking 2+3 = 23 is good math and will work forever with everybody.

 

[ziaulislam]

Pakistan Used to be a proper country...

With degree of corruption going on in military and bevaucarcy it was tikking time bomb with or without IK this was inevitable

It's for the best that IK was fired..now atleast he can be serious about reforms and accountability which was honestly a stupid joke before

 

[ziaulislam]

Absolute.ust reforms that military wouldn't allow

1- universal education and killing ghost employees (a bonanza for political workers
2- selling state enterprises and banning military out of business
Engnr should be there for meag projects but all small business should go in name of conflict of interest
3- punishing those generals involved in Iran Pakistan Afghanistan smuggling
4- property tax of 2% on ALL properties...one can argue this shouldnt be levied on primary residence
Money should go to district FOR SCHOOLS POLICE AND ROADS ETC not to provincial or central govt
5- track and trace for which Shabbir zaidi was kicked out by bajwa
6- audit of all income of core commanders politicians and beaucrats by foreign agency
7- enforcement of 100% with holding taxes on car, airlines tickets, cheese, jewelery, homes, and all luxury items.
8- creating a separate agency for smuggling.