PTI Gov injected $5.8 billion to keep the Rupee artificially strong

[Mav3rick]

who was the FM in PMLN's time, and what his/her length of service? was any attempt made to improve relations with the west (lobbying etc)? please provide details of that. also, wasnt it during PMLN's tenure that gulf countries were abused in parliament, when the situation could have been handled a bit more sensibly, thus turning them against pakistan?

There was NO Foreign Minister for most of their tenure and the reason for it is well known; powerful quarters wanted to handle the diplomacy themselves and hence PML was not allowed to post a Foreign Minister (whatever little tenure someone had at the post was mostly symbolic).

As for the matter in the middle east and how Gulf countries were embarrassed when we declined their request for military assistance, well, if one does not have short memory then one needs merely recall what Imran Khan did to ensure that Pakistan did NOT send the soldiers. Whereas we could have sent soldiers and could have requested Saudi Arabia and UAE to bail us out financially (and not with the peanuts they are giving since, on high interest rates too).

 

[Norwegian]

i voted for IK but he turned out to be bigger disappointment than previous prime ministers!

he is a coward who promised so many things but delivered nothing! if he was a man i thought he would be someone who would stand up to all the mafias he has failed miserably and now like he predecessors he is enjoying throne of Pakistan and will fk off to london when his term is over! there is no hope for Pakisan!

Next time vote for Zardari and Nawaz, stay slave to two families

Imran Khan did to ensure that Pakistan did NOT send the soldiers. Whereas we could have sent soldiers and could have requested Saudi Arabia and UAE to bail us out financially (and not with the peanuts they are giving since, on high interest rates too)

Nawaz Sharif also didn't send soldiers in Yemen war after parliament rejected that

 

[Cryptic_Mafia]

Next time vote for Zardari and Nawaz, stay slave to two families

lols!

next time i wont vote Fauji will bring their puppet and grab as much land as they want!

"Sab sey pehlay Pakistan" nai

"Sab sey pehlay Dha"

 

[Norwegian]

There was NO Foreign Minister for most of their tenure and the reason for it is well known; powerful quarters wanted to handle the diplomacy themselves and hence PML was not allowed to post a Foreign Minister (whatever little tenure someone had at the post was mostly symbolic).

That's a big fat lie. Your favorite Nawaz Sharif himself held the foreign minister portfolio so he could enjoy life with family traveling around the world instead of working in Pakistan like PM Imran Khan

 

[Mav3rick]

You don't see the manipulation of currency during your favorite Ishaq Dollar era? Why was rupee artificially overvalued for 4 long years? Is it PTI govt fault?

I am actually in favour of manipulating the currency to our advantage. The current exchange rate is to our severe disadvantage and even your own FM accepts and acknowledges it.

View attachment 808474

You need to explain how the effective exchange rate is at Rs. 97, which logic is used to derive that value and by whom?

And how did they manage that? By increasing exports? Increasing remittances? No. They managed that by artificial means by overvalued exchange rate

See this is what you and I do not understand clearly; evidently to you PML was incompetent, corrupt, nepotistic, bigoted etc., and yet I fail to understand how PML managed to indulge in:

1. Corruption of Billions of USD
2. Subsidies to Pakistanis of Billions of USD
3. less debt than PTI has already accumulated
4. burning of USD to maintain an artificially strong PKR
5. Many many mega projects including CPEC (whether it is beneficial or not is a different topic)
6. Lower exports
7. higher imports
8. lower remittances
9. incompetent officials (Ministers, MNAs/MPAs etc.)
10. state institutions eating into Government resources (PIA, Steel Mill, Railways etc.)
etc.

whereas PTI has done none of the things mentioned above and despite the following, PTI is still not able to maintain or manage anything:

1. No corruption (as per Imran Khan)
2. All subsidies revoked (only Negligible subsidies remaining)
3. more debt than PML accumulated
4. free floating of PKR (no burning of USD)
5. No mega project initiated (only inauguration of PML mega projects)
6. Higher exports
7. lower imports
8. higher remittances
9. Highly competent officials
10. State institutions posting profits
etc.

And while we are at it, please also explain why Pakistan has to sell it's sovereignty and is disgraced with IMF conditions due to which SBP act was amended last night and a mini budget presented if everything was so absolutely great?

That's a big fat lie. Your favorite Nawaz Sharif himself held the foreign minister portfolio so he could enjoy life with family traveling around the world instead of working in Pakistan like PM Imran Khan

I doubt even you would be that naïve to believe that nonsense yourself.

Nawaz Sharif also didn't send soldiers in Yemen war after parliament rejected that

How could he send the forces after the proposal was rejected by the Parliament? The entire plot was orchestrated by Imran Khan with the help of his pal Zardari and Pakistan continues to pay for that.

 

[Norwegian]

I am actually in favour of manipulating the currency to our advantage.

How is manipulation of currency in our advantage? Every manipulation of currency fuels boom and bust cycle leading to CAD crisis and mass devaluation anyway:

USD was 60 Rs at the end of Musharraf term and 120 Rs at the end of Nawaz Sharif term. It happened not because of deliberate devaluation but deliberate overvaluation in the first place

You need to explain how the effective exchange rate is at Rs. 97, which logic is used to derive that value and by whom?

Read here what real effective exchange rate even is and why it's necessary to keep it around or below 100

What Is the Real Effective Exchange Rate (REER) and Its Equation?

The real effective exchange rate (REER) compares the relative exchange rate of a currency against a basket of foreign currencies.

www.investopedia.com

 

[Norwegian]

See this is what you and I do not understand clearly; evidently to you PML was incompetent, corrupt, nepotistic, bigoted etc., and yet I fail to understand how PML managed to indulge in

Pmln managed all that on the back of only 2,5 billion dollars current account deficit left by Zardari. They managed that through overvalued exchange rate for 4 long years depleting Pakistan's foreign exchange reserves. They managed that by taking short term high interest external loans to finance the sky rocketing external debt and current account deficit caused by their own reckless policies

And while we are at it, please also explain why Pakistan has to sell it's sovereignty and is disgraced with IMF conditions due to which SBP act was amended last night and a mini budget presented if everything was so absolutely great?

Pakistan has to sell its sovereignty to get external loans from IMF to pay back external loans taken from IMF in the past. More loans you take more sovereignty you have to lose. It's how international banking works. When you can't pay mortgage loan of your house, bank sells your house. Then you can't complain to the bank but only yourself for getting into this situation

 

[AZ1]

Pmln managed all that on the back of only 2,5 billion dollars current account deficit left by Zardari. They managed that through overvalued exchange rate for 4 long years depleting Pakistan's foreign exchange reserves. They managed that by taking short term high interest external loans to finance the sky rocketing external debt and current account deficit caused by their own reckless policies View attachment 808490View attachment 808491View attachment 808492View attachment 808493View attachment 808494View attachment 808495

Pakistan has to sell its sovereignty to get external loans from IMF to pay back external loans taken from IMF in the past. More loans you take more sovereignty you have to lose. It's how international banking works. When you can't pay mortgage loan of your house, bank sells your house. Then you can't complain to the bank but only yourself for getting into this situation View attachment 808497

He doesnt bother or understand this He's patwari and will remain so problem is his brain doesnt work otherwise he wouldnt beleive that dollar was 104 at pmln time.

while it was 123 and one point went to 128 too before pti joining.

This is after all te reserve burning shows how pmln was performing.

 

[Norwegian]

How could he send the forces after the proposal was rejected by the Parliament? The entire plot was orchestrated by Imran Khan with the help of his pal Zardari and Pakistan continues to pay for that

What? Armed forces are under control of govt not parliament. If Nawaz Sharif had not taken the matter in Parliament and decided to send the troops as PM, parliament could not stop him

 

[Mav3rick]

................................................

Waiting for your response to all my points before I respond.

 

[Norwegian]

He doesnt bother or understand this He's patwari and will remain so problem is his brain doesnt work otherwise he wouldnt beleive that dollar was 104 at pmln time.

while it was 123 and one point went to 128 too before pti joining.

This is after all te reserve burning shows how pmln was performing.

I don't think he is a Patwari but I believe he don't understand why economy "felt" so much better during Pmln vs PTI govt. If he had taken a drug he would have understood why it feels so good when you are on it and why it feels so bad after the effects of drugs are gone.
Economy during Pmln was on artificially cheap dollar drug and that's why it felt so great until the dollars flushed out of the system

@Mav3rick

whereas PTI has done none of the things mentioned above and despite the following, PTI is still not able to maintain or manage anything

PTI has no breathing space. Pmln didn't increase exports nor remittances, only debt and deficits. Hence PTI govt must not only payback accumulated debt of past govts but also not take anymore debt for new public projects. That's why situation seems so bad. That's what happens when you had a reckless govt playing Russian roulette with the economy and finance of the country. And leaving the mess for future govts to come

All new external debt govt takes is to pay back old debt that govt had not taken in the past

 

[Mav3rick]

I don't think he is a Patwari but I believe he don't understand why economy "felt" so much better during Pmln vs PTI govt. If he had taken a drug he would have understood why it feels so good when you are on it and why it feels so bad after the effects of drugs are gone.
Economy during Pmln was on artificially cheap dollar drug and that's why it felt so great until the dollars flushed out of the system

We have been going round and round for many years now, and the more we argue, the more it gets messy. I have 2 simple questions on 2 major allegations against PML Governance:

1. PML is blamed for not increasing exports. What was the power situation when PML came into power in 2013?
2. CPEC is considered a game changer by almost every Pakistani. How much of the imports were related to CPEC during PML tenure?

P.S. Some youthias, as evident on this page, consider all those who speak against the current Government policies to be patwari; it is refreshing that you are not there any more. In the previous Government, I would have been called a Youthia because of my position against PML.

 

[Norwegian]

PML is blamed for not increasing exports. What was the power situation when PML came into power in 2013?

There is a direct link between decrease in exports and overvalued exchange rate. When Pmln govt artificially overvalued Rs, it made Pakistani exports expensive in international market. This had nothing to do with electricity shortage as export industry has special subsidy on gas from govt which they use to make their own electricity. Here you can see Pakistan's exports dropping at the same time exchange rate is artificially overvalued.

CPEC is considered a game changer by almost every Pakistani. How much of the imports were related to CPEC during PML tenure?

CPEC is a game changer if all CPEC related imports / investments end up in increasing Pakistan's exports so that we are able to payback CPEC loans. As you can see despite 60 billion dollar CPEC investment / imports, Pakistan's exports are still under 30 billion dollars. So I ask you was that worth it? How will Pakistan pay for CPEC projects when it has no increase in export income? Chinese won't accept repayments in Pakistani Rupees

 

[AZ1]

I don't think he is a Patwari but I believe he don't understand why economy "felt" so much better during Pmln vs PTI govt. If he had taken a drug he would have understood why it feels so good when you are on it and why it feels so bad after the effects of drugs are gone.
Economy during Pmln was on artificially cheap dollar drug and that's why it felt so great until the dollars flushed out of the system View attachment 808499View attachment 808500
@Mav3rick

PTI has no breathing space. Pmln didn't increase exports nor remittances, only debt and deficits. Hence PTI govt must not only payback accumulated debt of past govts but also not take anymore debt for new public projects. That's why situation seems so bad. That's what happens when you had a reckless govt playing Russian roulette with the economy and finance of the country. And leaving the mess for future govts to come View attachment 808501View attachment 808502
All new external debt govt takes is to pay back old debt that govt had not taken in the past View attachment 808503View attachment 808504

Good luck making him understand lol

 

[Pakistan Space Agency]

... you only see what PML N preach ...

And, the bongiyan you listen to?

1. Daily screaming and squealing, "Meh NRO nahi du gi."
2. PM Nawaz Sharif is a begger because he borows from the IMF.
3. PTI will bring $200 billion from Switzerland (as if the Swiss will empty their banks to fill up Pakistani banks).
4. Devaluation is bad because it makes people poor (2013-2018).
5. Devaluation is good because it increases exports (2018-2022).
6. PTI will increase GDP to 7% (2013-2018)
7. PTI mustn't increase GDP above 5% (2018-2022) as if PTI can achieve even 5%.
8. A PTI PM needs to skip the Kuala Lumpur Summit on Kashmir to appease the Saudis.
9. A PTI PM allowed India to annex Kashmir something 21 PMs did not allow before him.
10. Indian FM invited to the OIC Summit as special guest for the very first time in retaliation to PM Imran Khan trying to create an alternative Muslim block.
11. Good news PTI Govt has discovered oil reserves at sea.
12. Nah. PTI Govt wasted Rs 120 billion discovering water at sea.
13. CPEC is corrupt. It is debt. Freeze CPEC to appease the US/IMF. Blackmail China.
14. CPEC is good. Only large-scale non-Western investment. China is our future.
15. We want trade, not aid. Beg, beg and beg the US for trade. Not even get a phone call.
16. Etc. Etc. Etc.