‘Politics’ has economy in a tailspin: Atif Mian

[SaadH]

Ah yes, of course. A person so gullible to be so easily fooled by a "fraudulent cult" cannot be trusted with the office of PM. Why appoint him in the first place, then?

Yup definitely cannot be trusted and why he was appointed was another of Immy's idiotic move.

I see you took exception to my description of Qadianism as a "fraudulent cult", I take it you disagree with that classification...

 

[Kaniska]

Imran Khan brought him inn.....but hardcore religious parties ...

That is one of the few red flag within his tenure. Rather than succumbing to those Non economical reasons, he should have persisted with Atif Mian. Among all the political leaders in Pakistan, IK is better educated and exposed to a liberal environment. I wish, when he comes back with a full majority in the next election, he can provide good direction in your political discourse.

 

[Clutch]

Only if he was allowed to work in Pak.

Only the corrupt are allowed to work in Pakistan at those positions

 

[VCheng]

I see you took exception to my description of Qadianism as a "fraudulent cult", I take it you disagree with that classification...

Religious beliefs must remain personal, whatever they may be. That is for Allah to judge. What should matter more to me for a Finance Minister: economic expertise or personal beliefs? What affects the people more? Did it help the passengers on the AirBlue plane get into heaven easier because their pilot was a diabetic but fasting very piously before he went hypoglycemic and flew into the Margala Hills?

 

[El Sidd]

A 6 year old who goes to buy his own candy in Pakistan can deduce this. Apparently it takes a gold medal for Kenyans to come to the same conclusion.

 

[Menace2Society]

He could believe in the jedi order of Mars for all I care. Just be good at your job.

 

[313ghazi]

IK made a mistake by not standing by him. In this country your damned if you do and your damned if you don't - so just do and let the results speak for themselves.

 

[Dr-who]

‘Politics’ has economy in a tailspin: Atif Mian​

Anwar Iqbal Published April 6, 2023 Updated 32 minutes ago


LISTEN TO ARTICLE1x1.2x1.5x
WASHINGTON: Pakistan’s economy is in a tailspin, going from crisis to catastrophe and now the system is becoming unhinged, warns Pakistani-American economist Atif Mian.
Mr Mian, a professor of economics at the prestigious Princeton University and the first Pakistani to rank among the 25 top economists of the world, blames “judiciary, politicians, and generals” for this situation.
“The last couple of years have witnessed a level of chaos, infighting, and jostling for selfish power grabs that has brought the country to this catastrophe,” Mr Mian said in a series of tweets he posted on Wednesday.
“We can see this in the increasing stagflationary forces: growth is rapidly falling, and prices are rapidly rising. These are very worrying signs,” he wrote. Stagflation is persistent high inflation combined with high unemployment and stagnant demand in a country’s economy.



According to Atif Mian, inflation in Pakistan is not only being fuelled by large deficits and money printing but “foolish policy choices” that have seriously impacted the productive capacity of the economy.
Referring to recent data on Pakistan, he warns, that the “economy is going off the rails” and cites several factors.



First, exports: There was a global surge in exports post-Covid, but around the 2nd quarter of 2022, Pakistan’s exports drop off relative to India and Bangladesh - the gap is now over 20pc.
This happened despite the large currency devaluation and all “efforts” to boost exports given the severe balance of payments issue.
The export drop likely reflects serious supply-side disruptions in the economy, “most notably the inability to get into an IMF agreement,” writes Mr Mian while blaming the government’s “extreme mismanagement” for this situation.



“What the PDM govt has done is on another level. It removed the central bank’s governor with no plan in mind, started in-fighting against its own FM, and ultimately replaced him with a close relative of the PM - competence be damned,” he wrote.
“What followed has eroded any remaining confidence in the system,” said Mr Mian, referring to the government’s efforts to keep the exchange rate to Rs. 200 to a dollar as reserves were going to zero and the exchange rate toward 300 to a dollar.
The government’s policies, he wrote, led to a negative supply shock in the midst of a full-blown currency crisis, adding that the drop in exports highlights the negative supply-side shock.
“This is how a country loses credibility, a feeling that either nobody is in charge, or those in power have no idea what they are doing,” he wrote. “Pakistan’s price level … is off the charts, and extremely dangerous … millions are falling back into poverty.”
Noting that large deficits and constricting supply were a recipe for hyperinflation, he added: “The exchange rate will naturally mirror the price level — it’s a law of nature: you cannot control the exchange rate, at least not with this level of incompetence.”
One of the most important aspects of policy making, Mr Mian argued, was to provide confidence in the system - that people can invest in the long-term for a better future. “That confidence is now missing … Pakistan’s nervous system is fundamentally broken.”
Mr Mian urged those who run the country to rebuild the nervous system, which he described as a combination of administrative and political structures that guarantee a certain level of confidence in the economy.
Published in Dawn, April 6th, 2023

This person was supposedly blamed for the eventual downfall of our economy due to his affiliation to a particular sect/religion
But the opposite happened, the purist amongst us achieved more then that

 

[SaadH]

Y'all really believe this Atif guy would have really made a meaningful difference.

For all his theoretical economic prowess, there's no way in hell, he would have made an iota worth of change to the decades old deeply entrenched policies and practices in place to protect the interests of the kleptocratic elites and their allies in sepoy and bureaucratic mafias.

Even the half competent Asad Umar wasn't allowed to continue in his position because he was being a thorn in IMF's side and a compliant international establishment operative Hafeez Shaikh was parachuted in. Atif fellow would have been a Hafeez Shaikh on steroids.

 

[villageidiot]

Remember when Imran khan selected him,
whole campaign was launched against him . Even in dha karachi imams on membeers where accursing Imran of kadiyani agent.

There's a joke we used to read as kids.

On a Monday, the teacher asks her class what good deed they did over the weekend. One by one the kids reply. One of kids says he helped an old lady cross the street. The teacher asks if he had any difficulty. The kid says, "Yes, it was very difficult. Because the lady didn't want to cross the street."

I see some respected members and one usual suspect who are saying IK must be condemned for not standing up for Atif Mian.

So, he tried to fix a problem Pakistan has. Pakistanis didn't want to fix that problem. Now, IK is to be blamed for that too.

Besides, I think we've established that Pakistan's problems can't be solved by any one man.
And I am not a fan of the way Atif mian is acting like a vindictive c*nt since last year. Would it have been better if IK had not taken him on board at all in the first place?

@HAIDER

 

[Vapnope]

Ah yes, of course. A person so gullible to be so easily fooled by a "fraudulent cult" cannot be trusted with the office of PM. Why appoint him in the first place, then?

The person you are engaging considers taliban to be role model, what else do you expect from him ! Also he is a pushtun supremacist.

Religious beliefs must remain personal, whatever they may be. That is for Allah to judge. What should matter more to me for a Finance Minister: economic expertise or personal beliefs? What affects the people more? Did it help the passengers on the AirBlue plane get into heaven easier because their pilot was a diabetic but fasting very piously before he went hypoglycemic and flew into the Margala Hills?

Orya Maqbool Jan used to say don't hire Atif Mian "Allah mian bohat sawab dega". I think Pakistan traded "Sawab" for sovereignty now. All thanks to people like Orya who destroyed pakistan's foundations.

 

[VCheng]

The person you are engaging considers taliban to be role model, what else do you expect from him ! Also he is a pushtun supremacist.

That is okay, everyone is entitled to their views, I have no problem with that. Truth wins over everything, so I remain secure in what I say.

Orya Maqbool Jan used to say don't hire Atif Mian "Allah mian bohat sawab dega". I think Pakistan traded "Sawab" for sovereignty now. All thanks to people like Orya who destroyed pakistan's foundations.

Of course, if Pakistanis want to be more ready for the HereAfter while still in the HereAndNow, it is their choice. Who am I to disagree?

 

[villageidiot]

The person you are engaging considers taliban to be role model, what else do you expect from him ! Also he is a pushtun supremacist.

I thought SaadH was Urdu speaker?

Orya Maqbool Jan used to say don't hire Atif Mian "Allah mian bohat sawab dega". I think Pakistan traded "Sawab" for sovereignty now. All thanks to people like Orya who destroyed pakistan's foundations.

For real? Classic Orya Maqbool Jan

 

[Vapnope]

I thought SaadH was Urdu speaker?


For real? Classic Orya Maqbool Jan

He is pushtun.

 

[villageidiot]

He is pushtun.

Okay. In any case, I know he's of the religious bent and doesn't like us Punjabis and has made that pretty clear. The guy has no filter.

I remember @Maula Jatt saying he'd love to lay the smackdown on SaadH if he ever found him