Pakistan's Forex reserves jump to $23.22bn

[AZ1]

Buy vaccines, pay vaccinators, lock down the country.

Unless Khan achieves this, nobody cares what his forex reserves are. We're close to capacity on oxygen and beds. People in Pakistan don't seem to give a damn. It's all Eid haircuts, shopping and giggles as usual.

everyone has its own view. if you ask public doing shopping in mall they would say imran khan is doing wrong doing lockdown and its fake.

So no matter what he does, media will say its wrong and after ik, they will be showing these stats to public when pti will be in opposition and saying how good pti govt was and how bad new govt is.

 

[ziaulislam]

how much forex reserve we will have right now?

Around 16 with 2b in swaps and 2-3b in short term $$

Our reserves were negative in 2018 exculding swaps and short term loans

Net national reserves is a product of current account balance. What was current account balance as at june 18?

It was in negative after exculdibg swaps

 

[masterchief_mirza]

if you ask public doing shopping in mall they would say imran khan is doing wrong doing lockdown and its fake.

This is why our public are bloody idiots. It's mainly females and their freedom of "thought" that has brought us to this position. Normal citizens will either trust science or, failing this, will at least trust their leaders. Females trust their instincts, which are fundamentally geared towards shopping for Eid to outcompete other females.

 

[Norwegian]

Net national reserves is a product of current account balance. What was current account balance as at june 18?

 

[Khalidr]

it should be 40 plus when PTI term ends or bye bye politics PTI

And if not 40 then you prefer to go back to Nawaz and Zardari to brought it back to 7 or 8. I'm totally sure they have the capacity to bring it to zero.

 

[Mrc]

And if not 40 then you prefer to go back to Nawaz and Zardari to brought it back to 7 or 8. I'm totally sure they have the capacity to bring it to zero.

Expect to be undressed on national stage and bent over by voters....


Just like in karachi where pti stood 5th behind layari fishermen society candidate few days ago

 

[Khalidr]

Expect to be undressed on national stage and bent over by voters....


Just like in karachi where pti stood 5th behind layari fishermen society candidate few days ago

So you are talking about the Biryani and Naan rate voters and of those who expect 40B, Alas Pakistan is full of such voters either donkey mind or a twisted mind. Karachi is the provincial subject that comes under PPP and even if PTI holds the majority vote they cannot do much we all know how PPP reacted when the federal government tried to intervene. Common slogan by traitors "Do you remember what happened with Bangladesh"

Seems getting undressed and bending over is a common trait of Pakistanis not referring to you but as a nation, we just had a deep throat experience with Justice Faiz Essa.

 

[ziaulislam]

Really... .I did not know that. PML(N) is even more toxic to the coutry than I could imagine.

Do you have a link to any foreign reserve report prior to 2013 PML(N) time ?


Around $7 billion is held by private banks, I believe government can take it over in an emergency like in 1998's sanctions.

Lol and **** up the country for nxt 30 yrs

Govt can also say it wont pay loans (bankrupcy) in case of emergency!

Seems this rudimentary understanding of finance by general public is why v r in such prodicment

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Patwaris and karachi jiyalas will not understand untill they start using ghandi notes

I pray thay God bankrupt pakistan so they i can just tell them i told u so but seems a miracle keeps on happening just like slme divine intervention

For me it doesnt matter my assets are not in rupees..similarly bilawal and nawaz sharif it doesnt matter

 

[Crimson Blue]

I pray thay God bankrupt pakistan so they i can just tell them i told u so but seems a miracle keeps on happening just like slme divine intervention

Its very hard for Pakistan to go bankrupt, despite best of our efforts. Here's why:

You are right that opinion on street is that a divine intervention is keeping Pakistan afloat when countries like Argentina, Lebanon, Ecuador & Mexico went bankrupt. Greece was technically went bankrupt in 2010.

However truth is the foreign remittances from overseas Pakistanis are keeping the Pakistan afloat even when country was facing its worst fiscal enemy, Ishaq Dar. There is no other country whose foreign remittances are as high as her total exports. In this way , Pakistan's biggest single export is her labor working overseas.

I remember reading in news papers during 1990's that only 3 weeks (or similar period) of foreign reserves are left & country is in trouble. But we never came face to face to that trouble. Because even though SBP's foreign reserves were minuscule, overseas Pakistani kept pouring in dollars every month, which kept helped the country to meet its dollars needs without the Pakistan ending up like Mexico, Argentina or Lebanon.

However journalists and past governments were totally dishonest because they never disclosed it to ignorant public as why country was still kept on hobbling along even after 3 weeks foreign reserve deadline has past. They never gave credit to foreign remittances and pretended as country did not go bankrupt due to their financial policies or some other special ability.

Only this present government has started acknowledging the role of foreign remittances of overseas Pakistanis in propping up the foreign reserves.

 

[The Accountant]

Its very hard for Pakistan to go bankrupt, despite best of our efforts. Here's why:

You are right that opinion on street is that a divine intervention is keeping Pakistan afloat when countries like Argentina, Lebanon, Ecuador & Mexico went bankrupt. Greece was technically went bankrupt in 2010.

However truth is the foreign remittances from overseas Pakistanis are keeping the Pakistan afloat even when country was facing its worst fiscal enemy, Ishaq Dar. There is no other country whose foreign remittances are as high as her total exports. In this way , Pakistan's biggest single export is her labor working overseas.

I remember reading in news papers during 1990's that only 3 weeks (or similar period) of foreign reserves are left & country is in trouble. But we never came face to face to that trouble. Because even though SBP's foreign reserves were minuscule, overseas Pakistani kept pouring in dollars every month, which kept helped the country to meet its dollars needs without the Pakistan ending up like Mexico, Argentina or Lebanon.

However journalists and past governments were totally dishonest because they never disclosed it to ignorant public as why country was still kept on hobbling along even after 3 weeks foreign reserve deadline has past. They never gave credit to foreign remittances and pretended as country did not go bankrupt due to their financial policies or some other special ability.

Only this present government has started acknowledging the role of foreign remittances of overseas Pakistanis in propping up the foreign reserves.

My brother without undermining the importance of foreign remittances u r entirely wrong here.

Foreign remittances of Pakistan are merely 20billion to 30 billion. Pakistan imports in 2018 were 53 billion so if we kept on going like in 2017-18 we can get bankrupt quiet easily.

Yes a miracle is saving us. The reason is import based consumption oriented economy

 

[Crimson Blue]

Pakistan imports in 2018 were 53 billion so if we kept on going like in 2017-18 we can get bankrupt quiet easily.

No doubt about that.
What I was trying to get across was, Pakistan would have gone bankrupt long before 2018-2021 period if its not for the foreign remittances .