PKR reaches 169.50 inter bank and FM blamed SBP governor for undervaluing PKR as REER is 96 and saying that they are only sitting in seats.

[muhammadhafeezmalik]

Duffer bacha ha. Speeches pa bhuat trust karta ha.

Reza Baqir is going to get fired just wait.

We can not fire Mr. Baqir from his job. PTI has done this legislation, he has complete immunity.

 

[Path-Finder]

SBP already did spend 1.2 billion dollar in just 3 months compare to dar 8 billion dollar in 4 years still it devalued 11% in 3 months.

SBP injects $1.2b to stabilise rupee | The Express Tribune

Central bank move contrary to its own, IMF and finance ministry policies

tribune.com.pk

It tells you that Dar alone was better than entire Imran Khan PHD economics team.

how much did dar spend to artificially float the rupee?

 

[Desprado]

how much did dar spend to artificially float the rupee?

If you look at Dar was right. He did far better than alone PTI did. It mean of 1.2 billion 3 months of a year average is 5 billion dollar so according to PTI fanboys dar used 20 billion dollar in 4 years ,therefore, he managed the rate excellent way as PTI used 1.2 billion in just 3 months and also devalued the currency 11%. which makes them totally clueless and they do not know what happening and what do know. Inside they are paniced and know that we are not going win 2023 election with this performance.

 

[alee92nawaz]

How stupid we were to believe in immi khan and his so called teams of experts

 

[Desprado]

How stupid we were to believe in immi khan and his so called teams of experts

Imran Khan 200 Finance expert, which said in 2018 march are doing worse performance than a fool dar.

 

[Path-Finder]

If you look at Dar was right. He did far better than alone PTI did. It mean of 1.2 billion 3 months of a year average is 5 billion dollar so according to PTI fanboys dar used 20 billion dollar in 4 years ,therefore, he managed the rate excellent way as PTI used 1.2 billion in just 3 months and also devalued the currency 11%. which makes them totally clueless and they do not know what happening and what do know. Inside they are paniced and know that we are not going win 2023 election with this performance.

that is not what I asked, how much did dar spend to artificially float the rupee at the rate higher then it was supposed to be?

 

[TNT]

If nothing is working, then we should launch digital PKR and legalize all crypto trading and its mining. This can bring in alot of foreign exchange and actually we can produce alot of crypto.

 

[AZ1]

How stupid we were to believe in immi khan and his so called teams of experts

you were beliving nawaz, zardari for 30 years and they left $92 billion debt trap for you.

If nothing is working, then we should launch digital PKR and legalize all crypto trading and its mining. This can bring in alot of foreign exchange and actually we can produce alot of crypto.

this is good will bring dollars but fatf and others will start pressuring pakistan

 

[FOOLS_NIGHTMARE]

https://twitter.com/x/status/1438017219137613826

 

[Affan-khan]

who gave u a fake figure of 1.2 billion USD. SBP reserve not showing it. may be mian saab na bhaijay hain london sai,

 

[Pak Nationalist]

The stock exchange is not a particularly good indicator of the economy's health in our economic context. Even the global rise in crude prices leads to a rally in our bourses. The reason being a high share of the oil and gas sector in the market's total size (capitalization). If you have to look at the economic health, look at tangible things instead of sectors prone to speculation. Look at inflation, look at the exports in dollar terms, look at the imports in dollar terms, look at the trade deficit, look at the current account situation (if it is in surplus or deficit), look at the monthly and quarterly Large scale manufacturing growth numbers, look at the government's borrowing patterns. All of these are tangible things. And please, begin reading the business pages of newspapers to gain basic economic literacy. The first thing many learn in the few days into learning is how misleading the affairs in Pakistani stocks could be if you take those as the barometer of the direction economy.

if you pick any news channel show that time economic expert were saying shaukat tareen is good blah blah.

Thing is pakistan already in debt trap when pti came $92 billion loan was already there and deficit of $20 billion. No matter who comes here all will be doing same.

Tell me in which govt pakistan was progressing?

I only remember musharaf. Dollar remain 60 rupees for 5 years or so. food price was good too

View attachment 777975

but if you ask ppl or media they will say o na ji musharraf was bad.

So there is no solution for depression/na shukri unless ppl try to comeout from it by themselves.

PKR has seen severe bouts of devaluation since then. The Musharraf growth bubble was unsustainable as well and hence burst.

 

[AZ1]

The stock exchange is not a particularly good indicator of the economy's health in our economic context. Even the global rise in crude prices leads to a rally in our bourses. The reason being a high share of the oil and gas sector in the market's total size (capitalization). If you have to look at the economic health, look at tangible things instead of sectors prone to speculation. Look at inflation, look at the exports in dollar terms, look at the imports in dollar terms, look at the trade deficit, look at the current account situation (if it is in surplus or deficit), look at the monthly and quarterly Large scale manufacturing growth numbers, look at the government's borrowing patterns. All of these are tangible things. And please, begin reading the business pages of newspapers to gain basic economic literacy. The first thing many learn in the few days into learning is how misleading the affairs in Pakistani stocks could be if you take those as the barometer of the direction economy.

PKR has seen severe bouts of devaluation since then. The Musharraf growth bubble was unsustainable as well and hence burst.

the only brust is democracy where every one wants to loot this country. after musharraf everything started to fall take pia, steel mill etc

 

[Pak Nationalist]

the only brust is democracy where every one wants to loot this country. after musharraf everything started to fall take pia, steel mill etc

Severe deficits had started emerging during the Musharraf years. The steel mill and PIA were destroyed by PPP. No other entity has destroyed institutions in this country like PPP has. With nationalization, Bhutto killed the private sector that could become our Ratan Tatas, Ambanis, Mittals, etc. His progenies destroyed PIA and Steel mills via overstaffing these lucrative SOEs with PPP loyalists to reward them for their loyalty at the expense of the public exchequer and the financial viability of strategic national institutions. Musharraf also generated a bubble of consumption-led growth to ride a wave of popularity, just like PML N did in its last stint in power. The incumbents appear to be embarking on the same journey. Insanity is the law of the land in Pakistan. We repeatedly do the same thing and expect different results, deluding ourselves that we might do it better than the last govt.

A refined understanding of economic fundamentals is required to conclude that Musharraf type economics would never work in an economy like Pakistan, which produces little domestically and relies on imports for many things, even for producing goods domestically. Resultantly, when people have disposable income, the import bill rises. When local industry grows, import bill increases again. You have to become a manufacturing country, not even an assembling one. Take the example of the automobile sector swamping the import bill in the name of domestic production by bringing KDK, SKDKs to assemble these locally. Banks that do not extend loans easily to Small and medium enterprises (SMEs), fearing these would default on the loans, are financing cheap car loans that end up swelling your import bill. So to get shortsighted bumps in LSM figures to post big GDP growth numbers, your governments incentivize financial credit to be extended to sectors like automobiles that end jacking up your import bill. It would be best if you had this precious credit's diversion to SMEs that could grow and achieve scale, and their growth could kick start a cycle of the country's industrialization. Easy access to credit would attract more entrepreneurs to take chances at manufacturing businesses instead of locking capital in speculation (real estate, etc). You could have import substitution for upstream industries that rely on imported inputs to produce the final merchandise.

So you see, no government works on these lines. Why not? Because there is political insecurity, and the 5-year electoral cycle could not afford it. Governments have to show something in 5 years which is too little of a time to fix the problems of structural nature that undermine growth in Pakistan whenever growth emerges either organically or is induced by state spending. If a government keeps winning three straight elections to implement these significant changes that take time to bear fruits, the story might be different, but this requires political stability. This is why the idea of a national government or a charter of the economy is a good idea. Otherwise, we are locked in a vicious cycle.

 

[AZADPAKISTAN2009]

PPP has at least 30% hand in softening of economy

> Destroyed infrastructures
> Stalled PIA
> Stalled Steeles Mills

 

[Path-Finder]