Pakistan's Goodbye to IMF
- Thread starter RiazHaq
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It's clear that you are not particularly well-informed about how Pakistan's economy has changed in the last 64 years.
While the worst 5% of the Pakistan story gets all the headlines, the reality of Pakistan today as vibrant society and a strong nation gets ignored by the mainstream media. The real story of Pakistan is the resilience of its 180 million citizens who continue to strive to make it better and stronger.
Pakistan's economy is the 27th largest in the world. As Part of "the Next 11" group of nations, it is one of the top 15 emerging economies (BRICs+Next11) picked by Goldman Sachs. Goldman forecasts Pakistan to be among the top 20 biggest economies in the world by 2025.
Pakistan's agriculture now contributes less than 20% of the GDP industrial sector accounts for 27% of the economy with the rest being services.
Haq's Musings: Pakistan's Story After 64 Years of Independence
If the worst 5% of the India story got 95% of the coverage as it does for Pakistan, it would go like this:
India is home to the world's largest population of poor, hungry and illiterate peope 64 years after independence.
Haq's Musings: 63 Years After Independence, India Remains Home to World's Largest Population of Poor, Hungry and Illiterates
Currency devaluation is not necessarily a bad thing if it helps a country's exports, as it is in Pakistan's case.
China tries very hard to keep its currency valuation deliberately low and gets a lot of flack for it.
IF(read big if), pakistan does not have any export industry. only US aid and remittance is the source for foreign exchange.
It's clear you have not my post at all, or you have failed to understand it.
The US aid is peanuts when compared with Pakistan's GDP or its other annual inflows.
US aid of $1.5 billion a year is less than 1% of Pakistan's GDP of over $200 billion (2011 nominal), and a small fraction of $25 billion in exports and $11 billion in remittances.
Haq's Musings: Pakistan's Per Capita Income Exceeds $3,100 in 2011
Haq's Musings: Pakistan's Exports and Remittances Rise to New Highs
Well , you should not count aid and remittance to gdp. It should be for imports.
How much pakistan imports per year?
outside pakistan no one needs pkr. It is just piece of paper. u need to pay in USD.
IN a recent ag survey in Sukkur district, the surveyors found that all 300 farmers interviewed were using tractors for cultivation and preparing land for crops, and some were using tractors for fetching their crop produce to market.
Here's more:
1. In Sukkur district, majority of the farmers are subsistence farmers. 31 percent of them own less than 5 acres of land, and another 34 percent own up to 12.5 acres of land.
2. They spend an average of Rs. 1,611 a month on their children's education, with some of them spending up to Rs. 12,000 a month.
3. Wheat, rice, cotton and sugarcane are the major crops being cultivated by 93 per cent, 58 percent, 37 percent and 12 percent of the respondent farmers in that order.
4. 24 percent of them are also growing fruits including dates, mangoes and bananas.
5. 22 percent of the respondent own livestock.
6. About half (49 percent) use privately purchased seeds for wheat cultivation, 33 perecent use their own retained seed and 18 perecent use the seed purchased from Public Sector Seed Corporations.
7. On average, a farmer uses 96.73 Kg chemical fertilizer per acre with the maximum and minimum of 350 Kg and 40 Kg respectively. The average per acre cost of wheat production is Rs. 10,670.
8. All 300 farmers are using tractors for cultivation and preparing land for crops, and some are using tractors for fetching their crop produce to market.
Haq's Musings: Pakistan's Rural Economy Showing Strength
Abu Zolfiqar
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among other reforms, yes....
but i'm not saying they should be implemented concurrently. It should be a steady, gradual process. Enacting too many reforms, Pakistanis --the traders, merchants and the common man --will be out on the streets screaming bloody murder.
there comes a point in time where Pakistanis will have to contribute.....nothing in life comes without a cost. The people on the streets --some of whom find sneaky ways to avoid paying their bills --they are part of the problem.
and its government which has no trust from the people because they eat the money instead of utilizing it the way it is intended
the reforms proposed are good ones....but IMF arrogantly expects developing nations to enact SO many reforms in such a little bit of time. It's institutionalized extortion and blackmail. But then again, nobody is forced to go the IMF route. They go when they have to, due to dwindling forex reserves and other destabilizing macro-economic imbalances requiring immediate attention. That is why i refer to it as the 'emergency ward'
the only thing i could say about IMF --- to hell with them.
---------- Post added at 04:10 AM ---------- Previous post was at 04:09 AM ----------
and to hell with corrupt leaders and politicians who help to plunder the country which bore them
Reduction in taxes announced by the government helped car sales sprint 35% in the first two months of financial year 2011-12, according to a report in The Express Tribune:
Sales stood at 29,537 units from July to August 2011 against 21,833 units sold in the preceding year, according to data released by Pakistan Automotive Manufacturers Association on Monday.
The incentive given by the government in terms of removal of 2.5% special excise duty on imported and locally manufactured vehicles coupled with reduction in general sales tax to 16% from 17% were the core reasons for the growth, said Summit Capital analyst Sarfraz Abbasi.
Growth was primarily led by Pak Suzuki Motor Company as its sales rose by 67% to 18,301 units followed by Indus Motor by 6% to 8,829 units.
The biggest leap forward was seen in Suzuki Swift sales that tripled to 1,274 units against 421 units in the same period last year. Liana, under the domain of 1,300cc engine capacity and above, recorded 149% jump in its sales to 127 units in comparison with just 51 units sold in the same period last year.
Meanwhile, tractor sales dropped by a hefty 78% to 1,993 units on the back of higher input taxes and plant shutdowns during the period. Al-Ghazi Tractors production operation remained completely shut during August.
Moreover, car sales declined by 31% in August alone amid less working days due to Eid holidays and lower production on account of Ramazan.
Company-wise breakup shows that this time Indus Motor took the front seat to lead sales with an increase of 27% to 4,728 units compared with 3,360 units sold in the same period last year.
New variants launched by the company in 1,600cc segment and CNG vehicles introduced in the already established market acted as a catalyst in this growth.
Car sales rise 35 per cent – The Express Tribune
Sales stood at 29,537 units from July to August 2011 against 21,833 units sold in the preceding year, according to data released by Pakistan Automotive Manufacturers Association on Monday.
The incentive given by the government in terms of removal of 2.5% special excise duty on imported and locally manufactured vehicles coupled with reduction in general sales tax to 16% from 17% were the core reasons for the growth, said Summit Capital analyst Sarfraz Abbasi.
Growth was primarily led by Pak Suzuki Motor Company as its sales rose by 67% to 18,301 units followed by Indus Motor by 6% to 8,829 units.
The biggest leap forward was seen in Suzuki Swift sales that tripled to 1,274 units against 421 units in the same period last year. Liana, under the domain of 1,300cc engine capacity and above, recorded 149% jump in its sales to 127 units in comparison with just 51 units sold in the same period last year.
Meanwhile, tractor sales dropped by a hefty 78% to 1,993 units on the back of higher input taxes and plant shutdowns during the period. Al-Ghazi Tractors production operation remained completely shut during August.
Moreover, car sales declined by 31% in August alone amid less working days due to Eid holidays and lower production on account of Ramazan.
Company-wise breakup shows that this time Indus Motor took the front seat to lead sales with an increase of 27% to 4,728 units compared with 3,360 units sold in the same period last year.
New variants launched by the company in 1,600cc segment and CNG vehicles introduced in the already established market acted as a catalyst in this growth.
Car sales rise 35 per cent – The Express Tribune
danger007
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you started posting BS rants. BRICS - it includes India too. waste of time to respond you.
thats because pak economy is controlled by few elites who own large tracts of land and they form both army and landowners. they will have to give a lot in taxes if pak does tax reform. in pak the middle class is very insignificant and for any country to take off the middle classs has to be stable and strong and of a big size. apparently before america took off this was the case.
what pak needs is land reform like what happened in india and distribute landowners jagirs to the actual tillers. only then the middle class increase and more taxes will happen. this will also give stability as more people will settle and develop their lives on the owned land rather than practise other things.
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And Afghanistan has better current account balance than both India and Pakistan.
Hence, Afghanistan is in better shape than India and Pakistan.
Economics baba ki jai ho!
Mr. Haq, do you even know the ABCD...of economics?
RoYaL~GuJJaR
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Complete waste of time to reply him!! He will keep posting BS from his Rant Blog!!
yay!!!Complete waste of time to reply him!! He will keep posting BS from his Rant Blog!!
looks like he has set of links. Keep on posting same thing regardless of topic.
Nonsense!
Such BS from you only discredits you, and no one else!
Afghanistan has almost no legitimate exports and current account deficits as far as the eye can see!
It's under military occupation and essentially a narco economy.
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