Rupee fall benefits expats’ families: Baqir

[muhammadhafeezmalik]

https://twitter.com/x/status/1451479151827951616

 

[313ghazi]

ROFL! What an utterly moronic statement!

And these are the people in charge of national finances!




(To be clear, devaluation gets more rupees into the hands of the recipients of the remittance for the same amount of dollars, that is all. Those rupees go down in value, so they buy the same amount of stuff, but for larger amounts, leading to high inflation. The remittances remain the same in dollars. Locals who earn in rupees get screwed since their paycheck is now worth less and less.)

It's enough to make you want to cry.

 

[baqai]

Glass is half empty half full glorified with some tabdeeli magic .... wah

 

[muhammadhafeezmalik]

Mr. Baqir is not alone, we have some other wonderful economists too!!

https://twitter.com/x/status/1451380319240826881

 

[mudas777]

We have huge countries market around us , if govt help industrialists or new investors we can get huge sums of dollars in return. Good opportunity for the exporters to get benefit from current dollar rate too

Main problem is the corruption. If you have got money in your pocket would you go to a store where sales person swear at you and store manager hit you with a stick? Same applies in Pakistan if you want to set up an industry you have to bribe 20 different departments to set up one. Then the leeches the tax man, the local police your own employees are going to come after you one after the other to force you to empty your pockets. Then you have got the issues of electricity, the gas, the water, disposal where government fails miserably to provide for the facilities. Then what time and money one is left with to spend on productivity and with your family?
Developed countries don't have got these issues, set up what ever one likes and find a manager to run the place and more focus is on sales, marketing and on the trained work force.
Pakistan needs a one window policy where setting up industry can be simpler and government makes sure the amenities are provided and leaches are kept away. Pakistan needs industrialization to get out of the mess we are in not to borrow more and lets next government will pay the loans back approach. After all Chinese set up the free economics zones and made them to work for their country same can be done for the Pakistan if we can get the sincere and focused leaders.

 

[HalfMoon]

no


With low value for Pakistani Rupee , more eatable goods leave Local Pakistani Market and end up overseas
While local people are left scrambling for food for "High Prices"


It is modern day Robbery of Natural Resources of Country

The problem is , in order to show Growth in Exports , Rupee value is sent to toilet !!!

There is pressure to "Export our food" outside Pakistan , in order to generate $$$$ To pay for oil and gas
This can be bought cheaply from many sources (Russia , Saudia, Iran ) and maintaining "storage"

Currently we send the Rupee value to toilet , and robbers come in and say sure , we will take all your eatable food , for pennies

• Pakistan thinks this Devaluation , generates Revenue/ GDP for Pakistan but ultimately this is creating empty stomachs at home and also , reducing value of old people's pension's saving

View attachment 786800



Rupee value should be set to 1 dollar for 50 rupee and all exports should be processed with that exchange rate or none at all

The excessive food should be stored or given to local people first , at reduced cost so people sleep with full plate of food

• Export of eatable food should only be allowed once local prices fall !!!

Pakistan can impose heavy export duties or impose ban on essential goods to keep the prices in check but Pakistan cannot force overseas Pakistanis to send money to Pakistan. I had already said it earlier that PKR should depreciate to 250 to attract more remittances.

 

[AZADPAKISTAN2009]

Remittance has no connection to Devaluation , people send same amount of cash to Pakistan each month

1- Reduce Food goods going out of Pakistan , keep local supplies high , Local prices will fall

• Maintain local supply of rice
• Maintain local supply of flour
• Maintain local supply of fruit and dry fruit
• Store Dry Fruit in storage

2- Import same amount of oil and gas charge the actual price (reduce consumption)

• Subsidize Trucks fuel or Oil which transport food goods for registered transporters with Tax center
• Use Train Network for food distribution

3- Export freely , sports goods, textiles , electronics (cell phone) , furniture, IT Services etc.

4- After 2-3 Months with lot of food and cheaper prices 400-500% lower prices , then impose small amount of tax on sales goods

• After 6 months determine , how much extra stuff exists which can be exported without impacting local prices

 

[AZ1]

Remittance has no connection to Devaluation , people send same amount of cash to Pakistan each month

1- Reduce Food goods going out of Pakistan , keep local supplies high , Local prices will fall

• Maintain local supply of rice
• Maintain local supply of flour
• Maintain local supply of fruit and dry fruit
• Store Dry Fruit in storage

2- Import same amount of oil and gas charge the actual price (reduce consumption)

• Subsidize Trucks fuel or Oil which transport food goods for registered transporters with Tax center
• Use Train Network for food distribution

3- Export freely , sports goods, textiles , electronics (cell phone) , furniture, IT Services etc.

4- After 2-3 Months with lot of food and cheaper prices 400-500% lower prices , then impose small amount of tax on sales goods

• After 6 months determine , how much extra stuff exists which can be exported without impacting local prices

This is exactly I am thinking. Like before they were sending $100 lets assume say it was 100 rupees making it 10,000 pkr. now again they are sending $100 and its 17000pkr

So what they saying they have to send more?

 

[AZADPAKISTAN2009]

No The problem is too much food exporting out of country
Local markets have shortage , and this raises prices for goods for every day people

Keep Quantity of Goods high locally , when there is too much of something , the prices fall in market for that item


Example 1 : Person A sends his family $100 (1 dollar to 50 rupee) , their family gets 5,000 Rupees

• If local prices for food are low they can still buy 3 weeks of groceries with 5,000 rupees

Example 2 : Person A sends his family $120 ( 1 dollar to 172 rupee ) , their family gets 17,200 rupees

• Local goods are expensive so they only can buy 1.5 week of groceries with 17,200 rupees

If Foreigner Countries want Pakistani Fruit/ Vegetables/ Flour / Rice , charge then rate 1 dollar for 50 rupee


Key move is fix local food availability worry about international customers later, if they pay the right amount sure ship them small quantity



Pakistan Import

• Oil
• Gas
• Tea (2-3 Billion Dollar hit)

Pakistan Export
(STOP THE EXPORTS OR RAISE PRICES TO REDUCE EXPORT FOR INTERNATIONAL BUYERS )

• Fruit
• Vegetables
• Flour
• Basmati Rice
• Wheat
• Dairy (Not yet exported but produced #4 in world)
• Sugar from Sugar cane
• Fish Goods
• Cattle / Lamb / Chicken
• Dry Nuts / Dates / Dry fruit

Pakistan Export (None eatable)

• Textiles
• Cell Phones
• Military Goods
• Sports Goods
• Electricity (Not yet exported but we now produce Surplus electricity)
• Fertilizers
• Cement

• After local prices fall 300-400% then impose a Sales Tax so it is not burden on local person

 

[AZ1]

total bullshit. how devaluation of rupee gonna help the expat families??
now i have to send extra money back home every month due to inflation while my income here in australia will remain the same.
this imported idiot has gone nuts.

Your dollar is already increasing so how come you sending more? you sending $100, while in pakistan pkr its increasing but you sending the same amount?

 

[AZADPAKISTAN2009]

The idea , due to foreign exchange (inflated) you get more rupee , it is an illusion , more rupee in conversion does not means the local receiver is more happy

The rupee can't buy enough local goods because there is shortages in market so prices are high


For international buyers , Pakistan should propose Country to Country price list
Only small amount of food goods should be exported which is excess to National Needs
And a competitive rate should be used which serves Pakistan's National Interest


It's a bit stupid to send out crates and crates of goods and mean while locally there are shortages for food, rising up local food prices

 

[PakFactor]

ROFL! What an utterly moronic statement!

And these are the people in charge of national finances!




(To be clear, devaluation gets more rupees into the hands of the recipients of the remittance for the same amount of dollars, that is all. Those rupees go down in value, so they buy the same amount of stuff, but for larger amounts, leading to high inflation. The remittances remain the same in dollars. Locals who earn in rupees get screwed since their paycheck is now worth less and less.)

After reading that statement you bolded I wanted to slam my head on the pavement. This is the utter shit we have running our economy, like what the f#*%!

 

[American Pakistani]

Yes sir, doing IT business from last 6 years Alhumdulillah. Aur kuch?

That's great.

Make it export oriented. May Allah give barkat. Ameen.

 

[Blacklight]

Once upon a time Pakistan was biggest producer of cotton, now peoples stopped cotton crop and shifted to wheat and rice etc, due to stupid policies of past governments

Most of them shifted to Sugar.

IDK where they get these clowns from, but there seems to be no shortage of them.

This one was an economic hitman right from IMF!

 

[Sage]

No vote for PTI this time ...fedup from the logics of the PM ...he can surely talk and spin it around ...but can't bear the monstrous inflation...