Pakistan's Goodbye to IMF

[Luftwaffe]

India has a vast developed business sector you people earn enough with all the corruptions you people can still repay impressively, Pakistan is unable to. It is not that corruption is not part of western governments they do have good economic policies the economy is broad taxes are collected, revenue is coming and the industrial and agriculture industry is far better and maturer.

Pakistan is back to where it was in 1947 literally!, the blame is upon State Bank of Pakistan, Courts, PPP/PML N/Q, MQM, JI/(MMA), ANP. Do you know Pakistan 280 billion rupees have been written off by Banks in the past 38 Years. And supreme court has not even ordered to interrogate and arrest former state bank presidents and the current one for under what circumstances were the loans written off the same people borrowed more after their loans were written off, we would not have been begging if we had those 280 billion RS recovered.

 

[DV RULES]

Good decision thanks God that our politician good thing............
[video]http://paktribune.com/news/Pakistan-says-goodbye-to-IMF-for-the-time-being-243694.html[/video]

Did you read post No. 3? So what originality left in this GOOD THINKING? There should be output which has not been observed.

 

[DV RULES]

India has a vast developed business sector you people earn enough with all the corruptions you people can still repay impressively, Pakistan is unable to. It is not that corruption is not part of western governments they do have good economic policies the economy is broad taxes are collected, revenue is coming and the industrial and agriculture industry is far better and maturer.

Pakistan is back to where it was in 1947 literally!, the blame is upon State Bank of Pakistan, Courts, PPP/PML N/Q, MQM, JI/(MMA), ANP. Do you know Pakistan 280 billion rupees have been written off by Banks in the past 38 Years. And supreme court has not even ordered to interrogate and arrest former state bank presidents and the current one for under what circumstances were the loans written off the same people borrowed more after their loans were written off, we would not have been begging if we had those 280 billion RS recovered.

Well said, more over we have no proper balance where this loan money has spent in actual or awarded.

 

[mitth]

Did you read post No. 3? So what originality left in this GOOD THINKING? There should be output which has not been observed.

bro dair aye dursat aye..................

 

[ares]

Contrary to thread title it is not Pakistan but IMF which has said goodbye to Pakistan.

As Pakistan has consistently failed to meet its promised objectives with regards to controlling its budget deficit.
Sighting this reason IMF has refused release the last tranche of the bailout it had promised in SBA(2008).

Pakistan has received $8Billion of $11.3 Billion it was suppose to receive in last 3 yrs..starting next yr they will have to pay this money back with in a time frame of 2-3yrs. Though the interest on this money is minimal(ranging 1-1.5%)..but the limited time frame for returning this money will make sure that Pakistani reserves will take significant hit.
As it's economy is in a similar state of stagflation as it was back then and there is strong possibility that Pakistani reserves will return to its 2008 level..making this bailout a complete and utter failure.

 

[jha]

India has a vast developed business sector you people earn enough with all the corruptions you people can still repay impressively, Pakistan is unable to. It is not that corruption is not part of western governments they do have good economic policies the economy is broad taxes are collected, revenue is coming and the industrial and agriculture industry is far better and maturer.

Pakistan is back to where it was in 1947 literally!, the blame is upon State Bank of Pakistan, Courts, PPP/PML N/Q, MQM, JI/(MMA), ANP. Do you know Pakistan 280 billion rupees have been written off by Banks in the past 38 Years. And supreme court has not even ordered to interrogate and arrest former state bank presidents and the current one for under what circumstances were the loans written off the same people borrowed more after their loans were written off, we would not have been begging if we had those 280 billion RS recovered.

What do you mean by "written off "..? Does that mean that they dont have to pay the loan back..? If this is the case then there is some serious flaw in the system which seems to be highly skewed in the favor of rich..

In India, sometimes when the situation of a region becomes very bad ( like famine or, flood ), Govt. decides to write off to the loans for the affected people..But mostly interest is not charged..They have to pay back the principle..

 

[Luftwaffe]

Contrary to thread title it is not Pakistan but IMF which has said goodbye to Pakistan.

That is what has happened IMF says goodbye and go away.

Any next government that will come into power will have to fetch the list of all small/large businesses and impose heavy taxes on them, these are the group who always go un-notice without giving away taxes.

An example, I have said before where people can keep 2/3 vehicles they can pay more every year in road taxes and other essential vehicle related payment suppose if someone pay 1500 a year it should be increased to 1800 for single vehicle, No big deal an extra 300 a year they can pay, now imagine If 2 million vehicle owners pay 300.00/RS additional it makes 600 million rupees extra yearly.
We are out of smart people replaced with duffer ones the current finance minister is bonga he doesn't even know where exactly to apply taxes which are not a stress on payer's pocket.

 

[TOPGUN]

It is a cover up story by the courpt gov forsure... to cover their shame in the world's eyes shame on them damn thiefs and thugs good for nothing but to kill the county till last drop of blood bastards.

 

[Luftwaffe]

What do you mean by "written off "..? Does that mean that they dont have to pay the loan back..? If this is the case then there is some serious flaw in the system which seems to be highly skewed in the favor of rich..

In India, sometimes when the situation of a region becomes very bad ( like famine or, flood ), Govt. decides to write off to the loans for the affected people..But mostly interest is not charged..They have to pay back the principle..

Shockingly, Yes loans of industrialists and feudal and politicians, generals and so on their loans have been written off not a common man's loan, a common man has to pay 100% loan back with 100% interest in Pakistan.

The right way is to give them a few months time or a few years time to pay off slowly reducing the rate and monthly/quarterly payments (say you used to pay 10,000/- monthly if you are unable to then pay the bank then 2500/- but you will pay off no exception no getting away).
Unfortunately in Pakistan they straight away write off loans/debts, when the right way is to pay lesser amount when everything is back to normal pay the full agreed upon payments on monthly basis until the debt/loan is paid off or if unable to the factory, industry or land will be on sale to someone else if you are unable to pay but this is not the case in Pakistan loans are written off and you get to keep your property/land/factory/industry/car or whatever while poor and mediocre suffer the most.

 

[ares]

That is what has happened IMF says goodbye and go away.

Any next government that will come into power will have to fetch the list of all small/large businesses and impose heavy taxes on them, these are the group who always go un-notice without giving away taxes.

An example, I have said before where people can keep 2/3 vehicles they can pay more every year in road taxes and other essential vehicle related payment suppose if someone pay 1500 a year it should be increased to 1800 for single vehicle, No big deal an extra 300 a year they can pay, now imagine If 2 million vehicle owners pay 300.00/RS additional it makes 600 million rupees extra yearly.
We are out of smart people replaced with duffer ones the current finance minister is bonga he doesn't even know where exactly to apply taxes which are not a stress on payer's pocket.

Increasing taxes , cutting subsidies , controlling expenditure is exactly what IMF had recommended and Pakistan promised before entering SBA.

If Pakistani govt could not do it even when there was even IMF pressure on it what makes you think it will be able to do it later?

Popular (and not tough) decisions are rue of the day and is what makes the govt able survive.

 

[Kaniska]

@Luftwaffe..Agreed even this same corrupt politicians rules in India too....Every month there is some big scam news is published in news paper.

 

[Luftwaffe]

Increasing taxes , cutting subsidies , controlling expenditure is exactly what IMF had recommended and Pakistan promised before entering SBA.

If Pakistani govt could not do it even when there was even IMF pressure on it what makes you think it will be able to do it later?

Popular (and not tough) decisions are rue of the day and is what makes the govt able survive.

I do not blame IMF or WB, the fault lies in Pakistani Governments to not implement but then again what IMF is telling us is what basically Governments do so it is like IMF is trying to help run Government or Finance Dept this is pathetic of Pakistani past and present Governments that we are not even able to collect Taxes strictly this is law and anyone who does not pay is a criminal this is serious crime how can Govt let the businesses and people go free, supposing If I don't pay tax returns in Canada I would be warned and if I still don't I will be arrested and taken to court. In Pakistan we are being ruled by those "ancient euro barbarians" with no laws.

 

[jha]

That is what has happened IMF says goodbye and go away.

Any next government that will come into power will have to fetch the list of all small/large businesses and impose heavy taxes on them, these are the group who always go un-notice without giving away taxes.

An example, I have said before where people can keep 2/3 vehicles they can pay more every year in road taxes and other essential vehicle related payment suppose if someone pay 1500 a year it should be increased to 1800 for single vehicle, No big deal an extra 300 a year they can pay, now imagine If 2 million vehicle owners pay 300.00/RS additional it makes 600 million rupees extra yearly.
We are out of smart people replaced with duffer ones the current finance minister is bonga he doesn't even know where exactly to apply taxes which are not a stress on payer's pocket.

Correct...In fact Such taxes are there in the pipeline in various cities in India..

 

[aakash_2410]

why cant asia bank or india, japan or china help to bail out Pakistan poor economy?

India? It will hurt their ego.

Japan? Japanese NGOs are already providing so much aid in fact Pakistan gets the most amount of aid given to any Asian country by Japan.

China? Although China is their 'friend' they will never bail out them. The most they'd do is loan some money. Bailing our EU or America is in Chinese interest because that's where they do most of their business. But why would they bail out Pakistan? What's in it for China?

 

[Imran Khan]

indians have more pain then us abut our economy yaar kitny achy hain dekho to sahi .