Pakistan's Goodbye to IMF

[Jango]

Hehe.. Its because petrol in India is heavily taxed. While diesel, LPG and Kerosene are subsidized. India cares for its poor than its rich. Quite the opposite in Pakistan.

Yeah, thats why your poor get only 4 subsidized LPG cylinders per year!

---------- Post added at 05:57 PM ---------- Previous post was at 05:54 PM ----------

And how exactly do you serve the poor by increasing and having high fuel prices?

 

[RiazHaq]

Ok.. However, looks like Pakistan is miles ahead on the road you claim India to be on. You are expecting, rather hoping that the twin deficits you mentioned will cause great pain to the Indian economy's growth story.. However for Pakistan, that has already happened.. The 2008 crisis and the IMF bailout and downgrade of Pakistan's sovereign rating to just a notch above junk bonds...

And even today the fiscal deficit in Pakistan is way ahead of India..

btw, Pakistan's fiscal deficit = 6.2 % the current year
Pakistan's FY10/11 fiscal deficit likely to be 6.2 pct of GDP - c.bank | Reuters

India's fiscal deficit for the current year : 4.6%
India hopeful of 4.6 pc fiscal deficit target

India's fiscal deficit for center and states adds uo to 11% of gdp, about twice as much as Pakistan's. And Pakistan has a current account surplus, while India has big deficit.

Haq's Musings: Soaring Chinese Imports and Twin Deficits Worry India

 

[Night_Raven]

India's fiscal deficit for center and states adds uo to 11% of gdp, about twice as much as Pakistan's. And Pakistan has a current account surplus, while India has big deficit.

Haq's Musings: Soaring Chinese Imports and Twin Deficits Worry India

Listen smarty , first of all stop quoting from your own blog.

Second, having a trade deficit does NOT mean a faltering economy -- get this into your head once and for all.

Sad that its the same people like you who formulate ecocomic policies for Pakistan, that's why the mess you are in now .... IMF , WB all in line ..just wait and watch.

 

[Rafi]

Listen smarty , first of all stop quoting from your own blog.

Second, having a trade deficit does NOT mean a faltering economy -- get this into your head once and for all.

Sad that its the same people like you who formulate ecocomic policies for Pakistan, that's why the mess you are in now .... IMF , WB all in line ..just wait and watch.

Refute it then, stop crying. RH has done it all in the real world, he is no internet warrior like you, read his CV and learn something.

 

[Hyde]

come on Mr Riaq Haq leave this debate

Even I have read few pages of economics and I do not find any logical reason to compare Indian economy with Pakistan. They are simply doing better than us at the moment... and instead of playing with figures... we must focus on improving our economy for now

 

[Night_Raven]

Refute it then, stop crying. RH has done it all in the real world, he is no internet warrior like you, read his CV and learn something.

I am stating the facts : Having a trade deficit does NOT mean a faltering economy.

Refute this , and you have a debate on your hands ....

Economics study is not about cherry-picked articles / figures , you always need to look at the bigger picture .....

 

[great]

India's fiscal deficit for center and states adds uo to 11% of gdp, about twice as much as Pakistan's. And Pakistan has a current account surplus, while India has big deficit.

Haq's Musings: Soaring Chinese Imports and Twin Deficits Worry India

So you are gonna combine state and central budget deficit to get a fiscal deficit? Who taught you economics?

 

[RiazHaq]

Current exchange rate: 1 USD ~ 90 pkr.

Soon it will reach 150. May be in 4-6 months.

- No Aid
- No IMF loan
- No remittance due to unemployment in West.
- Oil collapse. No hand out from arabs.

Future looks gloom for pakistan. Good luck.

So how would India be affected if the West suffers?

Let's see:

-Big drop in FDI or FII to India

- Big decline in NRI remittances to India

- Big drop in exports to US and EU

- Fewer cyber coolie jobs

- Big decline in foreign aid and loans from Western nations and IFIs

- India's twin deficits skyrocket

- India's hunger and poverty shoots up

- Riots in the streets

-Maoists gain momentun

 

[RiazHaq]

come on Mr Riaq Haq leave this debate

Even I have read few pages of economics and I do not find any logical reason to compare Indian economy with Pakistan. They are simply doing better than us at the moment... and instead of playing with figures... we must focus on improving our economy for now

You can believe whatever you want.

But I deal in facts and figures and careful analysis, not hype...whether it's positive hype about India or negative hype about Pakistan.

Only real data and insights can help improve India or Pakistan or any other country for that matter.

 

[karan.1970]

So you are gonna combine state and central budget deficit to get a fiscal deficit? Who taught you economics?

Some idiot somewhere.. The dude is forgetting that a lot of state's deficit is financed by the center and hence ends up getting counted double

Also I dont see any state figures added in Pakistan's deficit .. Same story of using numbers from 2 different time periods for India and Pakistan to prove a point..

---------- Post added at 05:29 AM ---------- Previous post was at 05:28 AM ----------

So how would India be affected if the West suffers?

Let's see:

-Big drop in FDI or FII to India

- Big decline in NRI remittances to India

- Big drop in exports to US and EU

- Fewer cyber coolie jobs

- Big decline in foreign aid and loans from Western nations and IFIs

- India's twin deficits skyrocket

- India's hunger and poverty shoots up

- Riots in the streets

-Maoists gain momentun

You missed the last point...

Riaz wakes up from his wet dream looking for a tissue

 

[karan.1970]

India's fiscal deficit for center and states adds uo to 11% of gdp, about twice as much as Pakistan's. And Pakistan has a current account surplus, while India has big deficit.

Haq's Musings: Soaring Chinese Imports and Twin Deficits Worry India

btw, about Pakistan's current account surplus.. Its kinda hard to have high imports when you dont have money to buy stuff.. Kind of impossible to work up a negative trade balance in that situation..

 

[Hyde]

You can believe whatever you want.

But I deal in facts and figures and careful analysis, not hype...whether it's positive hype about India or negative hype about Pakistan.

Only real data and insights can help improve India or Pakistan or any other country for that matter.

aren't you the same guy who recently claimed that Pakistan's GDP per capita has risen up to 3100+ dollars? I still wonder where those facts and figures come from. I checked the official government websites and all international statistic agencies but that was confirmed by nobody

 

[karan.1970]

aren't you the same guy who recently claimed that Pakistan's GDP per capita has risen up to 3100+ dollars? I still wonder where those facts and figures come from. I checked the official government websites and all international statistic agencies but that was confirmed by nobody

Riaz sir has a habit of doing such stuff.. Like using year 2000 figures from India and comparing them with 2005 figures from Pakistan

 

[Kyusuibu Honbu]

So how would India be affected if the West suffers?

Let's see:

-Big drop in FDI or FII to India

Don't recall FDI drop during downturn

- Big decline in NRI remittances to India

Don't recall this either during recession

- Big drop in exports to US and EU

- Fewer cyber coolie jobs

Yes more shift to banking jobs

besides i am curious about the nomenclature here , if Indian s/w engineer earns $14.5 per hour and is branded a cyber coolie then what do call a Pakistani s/w engineer who earn $9 per hour?

Source:PayScale India - India Country Wages, Hourly Wage Rate

PayScale Pakistan - Pakistan Country Wages, Hourly Wage Rate

- Big decline in foreign aid and loans from Western nations and IFIs

We"ve been saying no to foreign aid , doesn't matter

India to surrender aid if UK decides to cut it: Pranab - Economic Times

- India's twin deficits skyrocket

ok , India's spending deficit can be handled as it means cutting subsidies , which haven't been helping much.

- India's hunger and poverty shoots up

Sadly true

- Riots in the streets

I recall Protests , since thats what happened during recent downturn

-Maoists gain momentun

Not happening . no increase in Maoist spread of influence during the downturn



However the above gives a trailer of events that might happen in case of Pakistan , where unlike the Maoists gaining control , the religious extremists will do like what they did in Iran and then if UN considers Pakistan's nukes unsafe .............USA will do what she has to do ,

So lets pray that nothing happens to USA /West

God bless America.

 

[RiazHaq]

aren't you the same guy who recently claimed that Pakistan's GDP per capita has risen up to 3100+ dollars? I still wonder where those facts and figures come from. I checked the official government websites and all international statistic agencies but that was confirmed by nobody

Check out the Economic Survey of Pakistan....page 9 second paragraph.

It says that Pakistan’s nominal per capita income rose 16.9 percent to $1,254 in 2010-11 from $1,073 in 2009-201.

Using the IMF's purchasing power parity exchange rate of Rs. 34 to a US dollar (versus official exchange rate of Rs. 85 to a US dollar), Pakistan's per capita income in terms of purchasing power parity works out to $3,135.00.

http://www.finance.gov.pk/survey/chapter_11/Overview of the Economy.pdf