SBP restricts outflow of dollars

[ziaulislam]

Should have posted the entire graphs to include FY under Imran Government too. But how could you, your lies would stand exposed. Anyway, enjoy this:

View attachment 863179

Are you trying to say that in 2018 and 2022 our GDP is the same(hence using absolute amounts)
You are also saying that oil, edible oil and gas was 5x more expensive

Just look at the graph it was positive few months before the war. thanks for pointing that out ..now look at the PMLN negative TREND FOR YEARS

Excellent graph

 

[Jango]

Should have posted the entire graphs to include FY under Imran Government too. But how could you, your lies would stand exposed. Anyway, enjoy this:

View attachment 863179

You do know this graph is more an indictment of N than PTI, right?

One word, trend lines...look them up.

 

[Norwegian]

Should have posted the entire graphs to include FY under Imran Government too. But how could you, your lies would stand exposed. Anyway, enjoy this:

View attachment 863179

So if Imran Khan left economy in similarly bad shape as PMLN, why you keep attacking him only? Bughaz Imran?

24,000 Billion debt in 70 years and 20,000 Billion debt in under 4 years and that's not Earth shattering record! Imrandoo logic is just too much!

6000 billion Rs debt in 2006 and 24000 billion Rs debt in 2018 (3x increase in 10 years). What's your point Patwari?

 

[ziaulislam]

24,000 Billion debt in 70 years and 20,000 Billion debt in under 4 years and that's not Earth shattering record! Imrandoo logic is just too much!

Last i check debt to gdp ratio fell for the first time since 2008/mushi era

 

[ghazi52]

.,.,
General Sir: Tell me the target of stability?
And how much "stability" should be done for the rupee?
The dollar went up again today.
Those whose accounts are outside and whose assets are abroad, they are benefiting - what is the fault of us Pakistanis?

 

[Waterboy]

Pleaseeeeeee !!!!!!!!This is a 'very' weak counter argument by Noony supporters. They perfectly knew what shit they are going into it but all they care was the power and clearance of corruption cases. Are they so naive not identify those so called 'massive financial mines' in advance ?

Which corruption case has been cleared so far?

 

[Norwegian]

Which corruption case has been cleared so far?

Ask neutrals that do not allow conviction of corrupts

 

[TigerOfMysore]

I had said months ago that among other things - the most dollar liquid of concerns/sector (IT) will shut the spigot and it will have a pressure impact on USD (this could be in the tune of $4B when you add free-lancing). Between putting tax on currency remittances for IT and then the chaos of the new government, I can tell you with 100% confidence that many IT organizations/companies have completely stopped remittances to Pakistan. Expect the Rupee/$ parity to worsen, which will create a massive pressure on loan servicing as Rupee based revenue will dilute in value against $ based loans. Inflation will sky rocket, taxes will sky rocket, causing a downward pressure on economic activity which will further impact revenue collection and so on. We are in a economic death spiral and default for once or complete fiscal bankruptcy looks more likley than ever before.

The experiment of the Establishment once again put the future of the country at serious risk. I am sick of how incompetent and self serving so called defenders of Pakistan are. Disgusting.

To those who are saying he left financial mines you are incorrect. The difference between IK's time and PDMs are as follows:
IK was attempting to procure energy resources at discount - PDM decided not to pursue that.
IK was managing CAD very effectively by putting specific throttles on imports - PDM opened that up as their moneyed interest groups got them to do so for CAD went negative.
IK was more judicious and prudent in how government expenditure was spent - no billions in media funding, no pools and tennis courts repairs etc. The amount of money the PDM team have opened up for their "special projects" was obscene. This is what they were warning that economy is barely on this tight rope - dont "mess" with it.
Finally the new things that IK did not have to deal with was commodities super cycle. How he would have handled it versus the PDM lot I cannot say.

But to say that IK left mines is being disingenuous and unfair.
The political uncertainty had a major impact as well on companies actions around investments and remittances. That amplified that downward trend with respect to dollars, and is likely to get worse.

Also the deficits we keep dropping on IK. Do you realize that over 80% of those loans and deficits were used for balance of payment needs to pay off on the interests of the prior loans taken out during NS and Zardari regimes. Not to mention the velocity of money was slowing down as balance of payments within the internal machinery was jamming up the system. Do you realize that the IPP power projects which is a perfect example of how corruption kills a country. If you read some of those contracts you'll be blown away. The Sovereign guarantee that NS and primarily Zardari regime provide for fixed purchasing price of energy units pegged against a fluctuating fuel price and with not downward price advantage. Basically because these IPPs paid off money to these prior governments as payoff they got to write their own contracts. IK had to pay off those contracts in order to get power generation up and running. You guys have not idea what NS and Zardari have done to the country. In every sector they have either build in contract structures or cartels - that are killing the nation. Every sector.

 

[SaadH]

That I agree on. They knew and they should have had a plan. They should have removed the subsidies on the day SS took the oath instead of waiting for weeks after weeks which compounded the problem.

The problem is this SS and Miftah nexus which is absolutely unable to control the situation.

Seems like disciple of the nani faction.

 

[ziaulislam]

.,.,
General Sir: Tell me the target of stability?
And how much "stability" should be done for the rupee?
The dollar went up again today.
Those whose accounts are outside and whose assets are abroad, they are benefiting - what is the fault of us Pakistanis?

Hence why i am half patwaris. My family is so happy
Theu sold $$ at 240 in black few weeks ago

Remember dollar procuremenr is very diffiuclt these days

 

[ziaulislam]

I had said months ago that among other things - the most dollar liquid of concerns/sector (IT) will shut the spigot and it will have a pressure impact on USD (this could be in the tune of $4B when you add free-lancing). Between putting tax on currency remittances for IT and then the chaos of the new government, I can tell you with 100% confidence that many IT organizations/companies have completely stopped remittances to Pakistan. Expect the Rupee/$ parity to worsen, which will create a massive pressure on loan servicing as Rupee based revenue will dilute in value against $ based loans. Inflation will sky rocket, taxes will sky rocket, causing a downward pressure on economic activity which will further impact revenue collection and so on. We are in a economic death spiral and default for once or complete fiscal bankruptcy looks more likley than ever before.

The experiment of the Establishment once again put the future of the country at serious risk. I am sick of how incompetent and self serving so called defenders of Pakistan are. Disgusting.

To those who are saying he left financial mines you are incorrect. The difference between IK's time and PDMs are as follows:
IK was attempting to procure energy resources at discount - PDM decided not to pursue that.
IK was managing CAD very effectively by putting specific throttles on imports - PDM opened that up as their moneyed interest groups got them to do so for CAD went negative.
IK was more judicious and prudent in how government expenditure was spent - no billions in media funding, no pools and tennis courts repairs etc. The amount of money the PDM team have opened up for their "special projects" was obscene. This is what they were warning that economy is barely on this tight rope - dont "mess" with it.
Finally the new things that IK did not have to deal with was commodities super cycle. How he would have handled it versus the PDM lot I cannot say.

But to say that IK left mines is being disingenuous and unfair.
The political uncertainty had a major impact as well on companies actions around investments and remittances. That amplified that downward trend with respect to dollars, and is likely to get worse.

Also the deficits we keep dropping on IK. Do you realize that over 80% of those loans and deficits were used for balance of payment needs to pay off on the interests of the prior loans taken out during NS and Zardari regimes. Not to mention the velocity of money was slowing down as balance of payments within the internal machinery was jamming up the system. Do you realize that the IPP power projects which is a perfect example of how corruption kills a country. If you read some of those contracts you'll be blown away. The Sovereign guarantee that NS and primarily Zardari regime provide for fixed purchasing price of energy units pegged against a fluctuating fuel price and with not downward price advantage. Basically because these IPPs paid off money to these prior governments as payoff they got to write their own contracts. IK had to pay off those contracts in order to get power generation up and running. You guys have not idea what NS and Zardari have done to the country. In every sector they have either build in contract structures or cartels - that are killing the nation. Every sector.

Diasagree
Everyone knows how nawaz sharif fucked the country
They simply dont care

Give credit to zardari
He didnt screw the country with stupid contracts

 

[TigerOfMysore]

Diasagree
Everyone knows how nawaz sharif fucked the country
They simply dont care

Give credit to zardari
He didnt screw the country with stupid contracts

Sorry to disagree but IPPs were primarily a Benazir and PPP gift.
Sugar cartels were a joint gift from these two, but power was in large measure a PPP gift.

 

[ziaulislam]

Sorry to disagree but IPPs were primarily a Benazir and PPP gift.
Sugar cartels were a joint gift from these two, but power was in large measure a PPP gift.

Those deals have largerly expired in 2010-15

PMLN deals were worse then those with higher return rate and have 20+ years period

So no there is no comparison.
Zaradrai gets 10/10 for not signing any long term stupid deals instead pushing for thar coal(largerly financed by sindh govt own funds)

We would not have been in this much trouble if zardari had won elections again in 2013. By now thar coal plants would jave been ip rather then being stuck in expensive LNG deals

 

[Mav3rick]

Complete nonsense, in every sense of the word.

Give source for every claim your have made in this post.

What was the target that you claim to know?

Fact 1. War began in February when Russia invaded Ukraine on the 24th Feb!
Fact 2. Imran Khan announced subsidy on Petrol etc. on February 28 which was implemented in early March!
Fact 3: Budget target was over 6.1 Trillion which meant 4.1T by end of February, 4.57T by end of March and 5.1T by end of April......FBR had already missed the target in March and April, this despite a massive increase in the circular debt, payment to which would have further lowered collection. All targets were missed. Fuel subsidy required per month was 110B-150B/month as per various sources so around 440B - 600B in 4 months; and this is only Petroleum products where as subsidies were also announced on Electricity.........where was the margin for these hundreds of Billions worth of additional subsidies; especially since the circular debt was a record 2.2Trillion at that time (Feb/March)??
Fact 4. Imran Khan's commitments to IMF on removal of susidies and addition of levy on petroleum products and electricy after which 1 Billion was released in January.
Fact 5. No Confidence Motion was in high gear since January and everyone was aware Imran would lose, it was officially moved on 8th March but was being planned for months by the opposition and Imran Khan was aware the match was fixed (as per his own words).

You may now run along and eat your big words!!

Yeah russia invited IK for tea party not for business

Pretty sure IK, russian ambasder and even miftah is lying and you sre saying the truth

I would accept your assertion if you can provide a single link where Russian Ambassador has confirmed that Russia was going to sell Oil at 30% discount to Pakistan.

If you cannot, WHEN you cannot, you must accept mine!

 

[Mav3rick]

Are you trying to say that in 2018 and 2022 our GDP is the same(hence using absolute amounts)
You are also saying that oil, edible oil and gas was 5x more expensive

Just look at the graph it was positive few months before the war. thanks for pointing that out ..now look at the PMLN negative TREND FOR YEARS

Excellent graph

Oh yes, it was positive for a few months on which you can focus and ignore that it had been in the negative for the many years under PTI, good going!

You can also ignore that CPEC was under PML Government for which massive imports were undertaken and that all major projects in the past 15 years were started and completed under PML Government which required imports.

As for the GDP, here are the facts under PML and PTI (Source: World Bank and MicroTrends):

Basically, even at the end of 2021 we were not at the GDP strength where PML left Pakistan!

I hope you enjoyed these graphs too. However, I wonder why people lie and deceit based on political affiliations. Why not be honest and dedicated for the country?

You do know this graph is more an indictment of N than PTI, right?

One word, trend lines...look them up.

When taken in isolation, yes it is indeed. However, fortunately, we all are aware of the situation PPP left Pakistan in, especially the situation with electricity where our industry was suffering outages over 18 hours long on daily basis. PML had to setup the power industry on war footing along with CPEC because of which there are all the negative trends at that time. That was the period of our investment and PTI period was the time of enjoying the fruit. Alas, all our sacrifices were for naught because of incompetence of PTI. I will not blame PTI corruption because all parties are equally corrupt so they are all on par where corruption is concerned, more or less. The only difference is in levels of competence and Imran Khan and his team are the most incompetent......well, they were until Shahbaz Sharif arrived on the scene with Miftah!

What to say of a person who relies on someone like Shaukat Tarin for the finances of the whole country; people in the banking industry and in the financial circles are well aware that this is the man who managed to ruin his own well performing Bank and Imran Khan handed over reigns of the Finances to this man! What more evidence could anyone ask for?