Sorry IMF Pakistan not coming for money.

[RealNapster]

IK said in one of his jalsas that i can collect 8000 crore tax from the people of pakistan....this means logon k pass paisa hai the only thing that is stopping them from paying taxes is trust deficit...people are not sure whether their money will be rightly utilized or not....with IK this scenario changes and he has already promised in his first speech that i will protect the money paid as tax by the people of pakistan

8000 billion. Current tax collection is around 4600 billion per year. That, when only 750K people pay taxes.

 

[Sugarcane]

IK said in one of his jalsas that i can collect 8000 crore tax from the people of pakistan....this means logon k pass paisa hai the only thing that is stopping them from paying taxes is trust deficit...people are not sure whether their money will be rightly utilized or not....with IK this scenario changes and he has already promised in his first speech that i will protect the money paid as tax by the people of pakistan

He can reach 8000 figure by just fixing the fbr. It is one of the most corrupt department.

 

[Chimgathar]

Loans were poorly managed, plundered, blown for useless purposes, might have been laundered abroad by the previous Govt (Ishaq Dar and company etc). I did not see any new universities, hospitals or other public benefit projects. Yet anyone associated with former MPAs, MNAs, Ministers would know about their lavish epic level lifestyle and facilities.

 

[maximuswarrior]

Loans were poorly managed, plundered, blown for useless purposes, might have been laundered abroad by the previous Govt (Ishaq Dar and company etc). I did not see any new universities, hospitals or other public benefit projects. Yet anyone associated with former MPAs, MNAs, Ministers would know about their lavish epic level lifestyle and facilities.

Apart from being grossly mismanaged the IMF loans don't serve a real purpose. It is a vicious addictive circle. Once a government takes this route it continues on this path.

IMF/Western loans don't address Pakistan's economic woes. They worsen them.

Imagine a new anti-corruption government like IK came in freshly with all its positive vibe, promises and the first thing it did was take IMF loans... That is not going to have a positive impact.

If Pakistan really has to go for initial loans, I would rather go for Chinese loans because they do not come with detrimental conditions, aren't politically motivated and do not put Imran Khan's government in a bad spot. In fact it has a positive vibe to it and will send a strong message across.

To really fix the economy we need to focus on tax collection, revenue generation etc. Exactly what IK intends to do and a major part of PTI's election manifesto. We, the expats also have a major part to play in the strengthening of Pak economy.

Notice how angry the Americans are when Imran Khan proposes that he doesn't seek their aid. Have a look at Shireen Mazari's interview on CNN. This is a Western policy. Keep developing countries dependent on their loans and aid.

 

[Bilal.]

Actually taking loan from IMF is good for country/governance. They hav stringent rules for loans . This will force government to cut down subsidies and wasteful expenditure and improve the performance of public sector companies.

Generally yes, but Pakistan's case is different. We have already made our industry and agriculture very noncompetitive, hence, the stagnant/falling export and rising imports which led to the huge CAD problem we are in.

We need to do the opposite, provide relief to our productive sectors, re-negotiate FTAs, completely revamp (read heads need to roll for the performance) FBR for broader tax collection and fix or privatize SOEs.

 

[TheBlackCoat]

US has finally made a comeback in Pakistan's policy making with PTI's victory.

 

[Bilal.]

US has finally made a comeback in Pakistan's policy making with PTI's victory.

Well congratulations, glad you are happy.

 

[TheBlackCoat]

Well congratulations, glad you are happy.

Yes. PTI's victory augurs well for US-Pakistan alliance against India & Iran. Time to kick both India and Iran out of Afghanistan.

 

[Kuru]

Good to know. Pakistan only had 2 options as far I understand it. Those 2 options were IMF & China.

Pakistan chose the latter. Again.

So how much Chinese have given so far ?

 

[lightoftruth]

Then get ready for further devaluation.

 

[BHarwana]

Good to know. Pakistan only had 2 options as far I understand it. Those 2 options were IMF & China.

Pakistan chose the latter. Again.

So how much Chinese have given so far ?

Nothing previous loans turned into foreign direct investment.

Then get ready for further devaluation.

Nope devaluation was artificial by SBP. Just to make our neighbours happy. Dollar falling rupee gaining and stock market back on a hard and fast recovery.

Welcome to naya Pakistan lol

 

[Samlee]

$1 billion have already been floated to SBP and additional will also be floated to SBP. This data will soon start to show in foreign reserves of Pakistan.

Any Update On The Tax Amnesty Has SBP Floated The Bonds Yet?????

Actually taking loan from IMF is good for country/governance. They hav stringent rules for loans . This will force government to cut down subsidies and wasteful expenditure and improve the performance of public sector companies.

But We Love Subsidies and Wasteful Expenditures

 

[BHarwana]

Any Update On The Tax Amnesty Has SBP Floated The Bonds Yet?????

Amnesty till 31 july extended. Will update at due time.

Just enjoy the Indians for now how their bubble bursts

 

[Novice09]

I never understand the proud feeling which anyone have in getting LOAN...

But the current economic mess is really bad in Pakistan and IK need to focus on resource utilization and corruption free implementation of funds...
IK has a lot to do...

 

[Samlee]

IMF loans are the cheapest loans available, plus it comes with conditions i.e. a plan as how to reinvigorate the economy and improve finances in future. In short it comes with a reform package. The molvis have made IMF a villain.

Those Conditions Imposed In The Name Of SAP Are A Death Sentence For Any Economy

Amnesty till 31 july extended. Will update at due time.

Just enjoy the Indians for now how their bubble bursts

Yeah I Know But Last Time I Heard 55000 Had Submitted Returns Uptil July 12th How Many Have Done It Now and What Of The Impact On Forex Reserves.

BTW Did You Hear About The Woman Maryam Khan Who Declared Assets In Excess Of $1.5 Billion and Another Man Who Declared $1.25 Billion.Just Get 100 Such People From Karachi and You Have $100 Billion Right There

I never understand the proud feeling which anyone have in getting LOAN...

But the current economic mess is really bad in Pakistan and IK need to focus on resource utilization and corruption free implementation of funds...
IK has a lot to do...

Do We Ever Judge You When You Get Loans ?????75% of Your Forex Is Based Upon ECBs