How did Pakistan's economy perform during Imran Khan's era? - Page 22


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  1. #1681
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    Quote Originally Posted by Greenstorm View Post
    IK has been facing the same opposition for 20+ years. Have they managed to stop him ? PTI did the hard part in 2018. 2023 will be comparatively easy.
    I just couldnt agree more with on this. Imran Khan In sha Allah will get a clear majority in 2023 unless any external force plays a spoilsport like in 2018 when Imran khan was robbed off some seats which wd hv rendered his govt more powerful and he didnt hv to make coalition with the parties which hv been backstabbing him from day one.

  2. #1682
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    Pak economy to grow at above 4% despite many challenges: PM Imran

    Pakistan's economy is poised to grow at above 4 per cent this year despite COVID-19 and other challenges, Prime Minister Imran Khan said on Friday.

    Khan chaired a meeting of the Macro Economic Advisory Group comprising senior members of the economic team of the premier, according to a statement by his office.

    The meeting was given a comprehensive overview of the overall economic situation of the country, the government's steps to mitigate the effects of high commodity prices on common people and the government's achievements in the last three years.

    Despite the worst balance of payments crisis in the history of Pakistan in 2018, economic difficulties due to COVID, high commodity prices in the global market and humanitarian crisis in Afghanistan having a direct and indirect impact on Pakistan, the growth is still expected to be above 4% which is a huge achievement, Khan said.

    We inherited huge circular debt, anti-export policies, unsustainable fiscal conditions, less competitive business environment and policies of lack of incentive for the private sector, he said, adding that the government's three years are an economic success story.

    Khan said Pakistan performed exceptionally well in combating COVID-19, compared to the countries in the region.

    Government's policies of Smart Lockdown and incentive for the construction industry, social protection programmes and subsidies for industries, small and medium enterprises kept the economy growing at a steady pace, which has been praised by commentators globally, he said.

    The meeting was informed that after successfully averting the crisis that the previous government left, robust economic stabilisation measures were taken which resulted in high growth compared to all regional countries even in the tested times of COVID-19.

    Khan directed the departments concerned to coordinate and implement the long-term and short-term plans for the further betterment of both macro-economic condition of the country and improvement in economic condition of the people, according to the statement.

    https://www.business-standard.com/ar...0701301_1.html


    Arsenal all the way!! (and Pakistan, of course!)

  3. #1683
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    Quote Originally Posted by shaaik View Post
    I just couldnt agree more with on this. Imran Khan In sha Allah will get a clear majority in 2023 unless any external force plays a spoilsport like in 2018 when Imran khan was robbed off some seats which wd hv rendered his govt more powerful and he didnt hv to make coalition with the parties which hv been backstabbing him from day one.
    This time he can also count on the overseas votes which in return should give him a majority.

  4. #1684
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    Quote Originally Posted by Manunited18 View Post
    This time he can also count on the overseas votes which in return should give him a majority.
    In Sha Allah

  5. #1685
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    For the latest updates on Cricket, follow @PakPassion on Twitter

  6. #1686
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    For the latest updates on Cricket, follow @PakPassion on Twitter

  7. #1687
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    Imran Khan fixing 70 years of mismanagement only for nashukray Pakistani awaam to bring back the looters and plunderers.


    PIA aircraft to employee ratio reduced from 550 in 2017 to 260 now with further reduction to 220 on the cards. PPP and PML-N kept using SOEs as employment agencies for their workers to leech of government funds.


    Selected Niazi ghar jao



  8. #1688
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    It seems a few people were laid off. How is that a great news in a country with unemployment issues. Am I missing something there because I dont quite understand the positive spin to the above news.

  9. #1689
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    Quote Originally Posted by Local.Dada View Post
    It seems a few people were laid off. How is that a great news in a country with unemployment issues. Am I missing something there because I don’t quite understand the positive spin to the above news.
    First of all you should worry about your own country and its plethora of issues, last time I checked India's unemployment rate is skyrocketing.
    https://www.bbc.com/news/world-asia-india-59870297

    Secondly a public organization reversing a loss making trend and entering profitability by removing politically appointed unmerited selections is good news for Pakistanis.

  10. #1690
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    https://tribune.com.pk/story/2338199...n-the-world-pm

    Pakistan is still one of the cheapest countries in the world: PM

    Premier Imran claims UK PM is following his govts policies to tackle Covid-19 pandemic

    Prime Minister Imran Khan has said that despite unprecedented challenges that his government had to face during its three years in power, Pakistans economic condition was still better than many countries of the region, particularly India.

    Pakistan is still one of the cheapest countries compared to the world they [opposition] call us incompetent, but the fact is that our government has saved the nation from all crises, the premier said while addressing the inaugural ceremony of 14th International Chambers Summit 2022 arranged by the Rawalpindi Chamber of Commerce and Industry (RCCI) in Islamabad on Tuesday.

    PM Imran said that oil prices in the country are still lower than other countries.

    He admitted rising inflation in the country and that masses were suffering badly because it, but maintained that inflation was a global issue owing to Covid-19 pandemic.

    The prime minister maintained that his governments prudent policies rescued the country from once-in-a-century challenge of Covid-19 pandemic. Today British Prime Minister [Boris Johnson] is following our policies to tackle [coronavirus], he said, while referring to his decision of not imposing a complete lockdown in the country.

    The premier said his ambition was not to become a prime minister but to make Pakistan a great nation.

    Speaking about other matters, he underlined that exports and tax collection were the two main driving forces to boost the countrys economy, over which the government was fully focused.

    He said the government was making strenuous efforts to remove all hurdles and bottlenecks faced by exporters, investors and businessmen and to give a spur to the exports industry.

    The prime minister said that in the past, no attention was paid to these sectors of the economy which were vital for wealth creation.

    He said the exports sector was stagnant in the past, but the incumbent government was providing all facilitation to the exporters and stressed that exporters should be encouraged with awards and other incentives.

    He observed that if the countrys exports were not increased, it could again put pressure on the current account and currency.

    The summit was being attended by presidents of more than 54 regular chambers, 10 small chambers and 13 women chambers.

    Representatives from the development partners, international business community, political parties, ministries and the government institutions also attended it.

    The summit will provide an opportunity to the businessmen to seek solution to their issues besides, presenting solid proposals to the stakeholders for the formulation of the business-friendly policy of the country.


  11. #1691
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    Quote Originally Posted by Syed1 View Post
    First of all you should worry about your own country and its plethora of issues, last time I checked India's unemployment rate is skyrocketing.
    https://www.bbc.com/news/world-asia-india-59870297

    Secondly a public organization reversing a loss making trend and entering profitability by removing politically appointed unmerited selections is good news for Pakistanis.
    "Out of 14,500 employees of the PIA, around 2,000 have availed of the VSS. More than 800 employees were sacked on account of fake degrees while over 1,000 ghost employees were sent packing. Around 1,100 employees were fired for corruption"
    "No airline in the world with more than 14,500 employees with a deficit of Rs. 400 billion and liabilities of over Rs. 100 billion can become self-sustainable"
    What did @Mamoon calling this- corrupt and competent

  12. #1692
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    Quote Originally Posted by Local.Dada View Post
    It seems a few people were laid off. How is that a great news in a country with unemployment issues. Am I missing something there because I don’t quite understand the positive spin to the above news.
    Positive spin is that PIA had one of the highest ratio of employees per plane, thousands of people were political appointees and it has been recording billions in losses for many years. There were fake degree holders as well so this was a cleanup.
    Even after 50% reduction, PIA still has more employees per plane than Emirates, Etihad etc.

  13. #1693
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    Quote Originally Posted by Local.Dada View Post
    It seems a few people were laid off. How is that a great news in a country with unemployment issues. Am I missing something there because I don’t quite understand the positive spin to the above news.
    Why comment on something you don't understand. It's akin me commenting on the Ind railways or something like that

  14. #1694
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    While there is no denying that there is sharp inflation but seems like people's buying power is also increasing. Car sales grew 96% YoY in Dec 2021. For the first half of the fiscal year sales are up 71%, also interestingly sales of cars under 1000cc is up 100% for a first half of the fiscal year. Cars like Suzuki Alto etc are a strictly middle class person's drive. All signs pointing towards a 5.5-6% GDP growth this year. Selected Niazi isteefa do @Bewal Express @Waseem




  15. #1695
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    Quote Originally Posted by Syed1 View Post
    While there is no denying that there is sharp inflation but seems like people's buying power is also increasing. Car sales grew 96% YoY in Dec 2021. For the first half of the fiscal year sales are up 71%, also interestingly sales of cars under 1000cc is up 100% for a first half of the fiscal year. Cars like Suzuki Alto etc are a strictly middle class person's drive. All signs pointing towards a 5.5-6% GDP growth this year. Selected Niazi isteefa do @Bewal Express @Waseem



    This must be dagger through the heart of the corrupt mafia. I bet they pray for low growth because PK growing means they have nothing to offer

    It would be great to see 5.5% to 6% but at this point in time,any figure of 4.5% causes problems with BOP. The reason for this is that as soon we hit the higher growth rate, we dont have the capacity to supply the consumer goods that are normally brought. We need massive supply side reforms and although it has started, we are still a few years away from being in a position of consistent 6% growth. IA we will get there.

  16. #1696
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    Pakistan's economic condition better than India: Imran Khan

    On Tuesday, Khan said that Pakistan is in a better economic condition than many countries in the region, especially India, speaking at the inaugural session of the International Chambers Summit 2022 in Islamabad.

    The Times of India reported that Khan, at the summit organised by Rawalpindi Chamber of Commerce and Industry (RCCI), said, "Pakistan is still one of the cheapest countries compared to many countries in the world. They (opposition) call us incompetent, but the fact is that our government has saved the nation from all crises."

    https://timesofindia.indiatimes.com/...w/88840980.cms

    Can someone please explain the relation between 'Cheapest countries' and 'Economic Condition' ?

    Zimbabwe and Kenya also cheapest countries that doesn't mean their economic condition is better than Pakistan and India.

    I didn't get the Imran logic here.

  17. #1697
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    Quote Originally Posted by Cover Drive Six View Post
    [B]I didn't get the Imran logic here.
    You won't get the logic because none exists.

    Inability to grow exports from modern industries has led to persistent current account deficits. Consequently the PKR has lost about 35% of its value wrt the USD during IK's term. Which of course makes stuff in Pakistan cheaper when priced in USD.

    Even the normally sympathetic Congress couldn't remain silent. "Congress leader Abhishek Singhvi also reacted to Imran Khan's claim as he tweeted, "In order to talk up its economic stocks, Imran Khan refers to Pakistan as one of the cheapest countries in the world. Of course, you are when - beg from Saudi, auction your land & resources to China & sell donkeys in order to survive.""

    https://www.hindustantimes.com/india...983517359.html

  18. #1698
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    Quote Originally Posted by Cover Drive Six View Post
    Pakistan's economic condition better than India: Imran Khan

    On Tuesday, Khan said that Pakistan is in a better economic condition than many countries in the region, especially India, speaking at the inaugural session of the International Chambers Summit 2022 in Islamabad.

    The Times of India reported that Khan, at the summit organised by Rawalpindi Chamber of Commerce and Industry (RCCI), said, "Pakistan is still one of the cheapest countries compared to many countries in the world. They (opposition) call us incompetent, but the fact is that our government has saved the nation from all crises."

    https://timesofindia.indiatimes.com/...w/88840980.cms

    Can someone please explain the relation between 'Cheapest countries' and 'Economic Condition' ?

    Zimbabwe and Kenya also cheapest countries that doesn't mean their economic condition is better than Pakistan and India.

    I didn't get the Imran logic here.
    There is a reason why the powers that be in Pakistan is in engagement with Nawaz Sharif inspite of having bitter relations with him over last 3 years. Nawaz had serious issues in managing economy, but that he is still being considered as an option inspite of past dismal performance kind of sums up Imran's credibility as an effective administrator or for that matter anything he states in public.

    Ofcourse NRPs will vehemently disagree but Pakistani friends residing in Pakistan knows the truth.

  19. #1699
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    Yes, your 'Pakistani friends residing in Pakistan' will gladly elect IK in 2023 while you will be crying 'selected' for another 5 years.

    Indians discussing Pakistan in threads like this is always interesting. The level of misinformation and hyperbole is stunning. Its like switching to one of those trash Indian media channels (NDTV whatever).

  20. #1700
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    Quote Originally Posted by Greenstorm View Post
    The level of misinformation and hyperbole is stunning. Its like switching to one of those trash Indian media channels (NDTV whatever).
    Misinformation?
    Forget about above indian media source.

    Same matter published in Pakistani news channels.


    Pakistans economic condition was still better than many countries of the region, particularly India.

    Pakistan is still one of the cheapest countries compared to the world they [opposition] call us incompetent, but the fact is that our government has saved the nation from all crises, the premier said while addressing the inaugural ceremony of 14th International Chambers Summit 2022 arranged by the Rawalpindi Chamber of Commerce and Industry (RCCI) in Islamabad on Tuesday.

    https://tribune.com.pk/story/2338199...world-pm?amp=1

  21. #1701
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    Foreign Minister Shah Mahmood Qureshi has said that Pakistan’s ‘Engage Africa’ policy is aimed at enhancing its diplomatic footprint and intensifying trade with Africa.

    In a meeting with Democratic Republic of Congo’s (DRC) Chief of Staff of Land Forces Lt Gen Asinda Fall, who is on a six-day visit to the country at the invitation of his Pakistani counterpart, Qureshi underlined government’s vision, which is rooted in geo-economics.

    During the meeting, both sides expressed satisfaction over bilateral cooperative and cordial ties. Coordination of positions and mutual support for each other’s candidatures at multilateral fora was also flagged during the meeting.

    The foreign minister expressed pride in Pakistan’s steadfast and unmatched support and contribution to peacekeeping, peace-building and peacemaking effort in DRC with 53,000 uniformed personnel under United Nations (UN) auspices from 2003.

    He praised the Congolese President Felix Antoine Tshisekedi Tshilombo’s contribution to promoting democracy and ably steering African Union as its chairperson.

    Qureshi also conveyed an invitation to his counterpart Cristophe Lutundula Apala to visit to Pakistan.

    He offered further training opportunities for DRC diplomats at Foreign Service Academy (FSA) in Islamabad and urged the Congolese side to avail Pakistan’s Technical Assistance Programme facility for its youth in fields of medicine, pharmacy and engineering.

    The foreign minister also conveyed greetings from President Dr Arif Alvi and Prime Minister Imran Khan to the Congolese president.


    For the latest updates on Cricket, follow @PakPassion on Twitter

  22. #1702
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    Pakistan Post turning a profit after 12 years.... In 2018 it's world ranking was 95 and today it is 62. Another failure by incompetent IK, let's bring back the looters and plunderers.




  23. #1703
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    About 5,300 people have benefited from the universal health coverage since it's launching 2 weeks ago in Lahore division. Imagine the impact when it rolls out in all of Punjab by March 2022. As the coverage expands and more people start using it, it will prove to be a game changer. @Major I wonder if the people who had only two options before the Sehat card to either die or spend their and their family's life in debt care about the color of the card as much you did. Ironically you have no issue with BISP.

  24. #1704
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    Quote Originally Posted by Syed1 View Post
    About 5,300 people have benefited from the universal health coverage since it's launching 2 weeks ago in Lahore division. Imagine the impact when it rolls out in all of Punjab by March 2022. As the coverage expands and more people start using it, it will prove to be a game changer. @Major I wonder if the people who had only two options before the Sehat card to either die or spend their and their family's life in debt care about the color of the card as much you did. Ironically you have no issue with BISP.
    funny how the guy who complained about benazirs name being used by PPP for naming things is desperate for PTI to use its colors on a card made for general public.

    You really dont understand the concept that when the cards get remoddling their would a cost associated to it and corruption cost aswell.

    Alos, while this sehat card is being celebrated, the govt has no money so lets see how this actually gets funded. Already smaller DHQ hospitals have been shut down to finance this.


    The first and only PM of Pakistan to lose the peoples confidence = Imran Khan

  25. #1705
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    Quote Originally Posted by Cover Drive Six View Post
    Misinformation?
    Forget about above indian media source.

    Same matter published in Pakistani news channels.


    Pakistan’s economic condition was still better than many countries of the region, particularly India.

    “Pakistan is still one of the cheapest countries compared to the world… they [opposition] call us incompetent, but the fact is that our government has saved the nation from all crises,” the premier said while addressing the inaugural ceremony of 14th International Chambers Summit 2022 arranged by the Rawalpindi Chamber of Commerce and Industry (RCCI) in Islamabad on Tuesday.

    https://tribune.com.pk/story/2338199...world-pm?amp=1
    I was referring to 'powers that be in Pakistan are in engagement with Nawaz Sharif' comment.

    IK has said nothing wrong.
    Last edited by MenInG; 16th January 2022 at 21:16.

  26. #1706
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    Quote Originally Posted by Greenstorm View Post
    I was referring to 'powers that be in Pakistan are in engagement with Nawaz Sharif' comment.

    IK has said nothing wrong.
    Anyways I won't claim I know everything about Pakistan but I have decent idea with quite a bit of reading on both pro and anti narratives coming out of Pakistan. And I don't just go by Indian media's accounts of Pakistan, infact I depend on them much less if I have to gather information on Pakistan.
    Last edited by MenInG; 16th January 2022 at 21:16.

  27. #1707
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    Quote Originally Posted by Major View Post
    funny how the guy who complained about benazirs name being used by PPP for naming things is desperate for PTI to use its colors on a card made for general public.

    You really dont understand the concept that when the cards get remoddling their would a cost associated to it and corruption cost aswell.

    Alos, while this sehat card is being celebrated, the govt has no money so lets see how this actually gets funded. Already smaller DHQ hospitals have been shut down to finance this.
    Exhibiting a lack of knowledge which is the norm with you. In Punjab this will cost Rs 400b over the next three years. Definitely not something that will break the bank.


    Smaller DHQs were in name only because they didn't have the facilities or doctors. People from rural areas always go to bigger cities like Multan or Lahore or Pindi for their health needs. With this health card the government has provided them with the buying power to even visit private hospitals. When the private sector sees people now have the buying power it will lead to facilities opening in even remote areas.
    Last edited by Last Monetarist; 17th January 2022 at 20:52.

  28. #1708
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    Quote Originally Posted by Major View Post
    funny how the guy who complained about benazirs name being used by PPP for naming things is desperate for PTI to use its colors on a card made for general public.

    You really dont understand the concept that when the cards get remoddling their would a cost associated to it and corruption cost aswell.

    Alos, while this sehat card is being celebrated, the govt has no money so lets see how this actually gets funded. Already smaller DHQ hospitals have been shut down to finance this.
    But you evade the question on BB income support programme. Should the name become neutral or not. Something like Income Support

  29. #1709
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    Quote Originally Posted by Syed1 View Post
    Exhibiting a lack of knowledge which is the norm with you. In Punjab this will cost Rs 400b over the next three years. Definitely not something that will break the bank.


    Smaller DHQs were in name only because they didn't have the facilities or doctors. People from rural areas always go to bigger cities like Multan or Lahore or Pindi for their health needs. With this health card the government has provided them with the buying power to even visit private hospitals. When the private sector sees people now have the buying power it will lead to facilities opening in even remote areas.
    funny how you keep calling others of being misinformed when you yourself are..........

    You cannot close down govt hospitals to fund a health card, as it could disastrous in the future. This is just a way for the govt to privatize health care and is a huge mismanagement.

    Also, read the panel hospitals. All the private hospitals are just bad hospitals in the Pindi/ISB panel.

    Put Shifa of Isb on sehat card than it would actually mean something
    Last edited by Last Monetarist; 17th January 2022 at 20:52.


    The first and only PM of Pakistan to lose the peoples confidence = Imran Khan

  30. #1710
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    Quote Originally Posted by Bewal Express View Post
    But you evade the question on BB income support programme. Should the name become neutral or not. Something like Income Support
    i never evade it, I have said it time and time again, no service or program offered by any govt should be politicalized as it leads to other parties just wasting money to change its name in future.

    PPP did itself more damage than good by using BB and Bhutto Shaheeds name against everything


    The first and only PM of Pakistan to lose the peoples confidence = Imran Khan

  31. #1711
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    Quote Originally Posted by Major View Post
    funny how you keep calling others of being misinformed when you yourself are..........

    You cannot close down govt hospitals to fund a health card, as it could disastrous in the future. This is just a way for the govt to privatize health care and is a huge mismanagement.

    Also, read the panel hospitals. All the private hospitals are just bad hospitals in the Pindi/ISB panel.

    Put Shifa of Isb on sehat card than it would actually mean something
    Who is asking you to use the Sehat card? It was meant for the millions of poor and destitute who can barely afford to visit a doctor rather than trying out their luck with neem hakeems. Again such random hollow soundbites from you "aiming to privatize healthcare" LMAO amazing insight.

    Makes perfect sense in why you have your hopes aligned with Billoo
    Last edited by Last Monetarist; 17th January 2022 at 20:53.

  32. #1712
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    Quote Originally Posted by Major View Post
    i never evade it, I have said it time and time again, no service or program offered by any govt should be politicalized as it leads to other parties just wasting money to change its name in future.

    PPP did itself more damage than good by using BB and Bhutto Shaheeds name against everything
    Almost every service or program offered by any govt is politicized, that is how political parties get elected and recognized for. - method is different from country to country.

  33. #1713
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    Quote Originally Posted by Syed1 View Post
    Who is asking you to use the Sehat card? It was meant for the millions of poor and destitute who can barely afford to visit a doctor rather than trying out their luck with neem hakeems. Again such random hollow soundbites from you "aiming to privatize healthcare" LMAO amazing insight.

    Makes perfect sense in why you have your hopes aligned with Billoo
    So wait,

    poor people being provided free health care at pathetic run hospitals is a good thing?

    You really dont know the hospital problems do you.

    Pindi/Isb, only Shifa has clean dialysis machines. REst of the hospitals dont even clean their machines and often patients get hepatitis from these machines. So for you its alright for a person to get treatment from such places because govt is doing some kind of ehsan?

    People dont go to Hakeems and pirs because of poverty, they go to themm due to their belief system.


    The first and only PM of Pakistan to lose the peoples confidence = Imran Khan

  34. #1714
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    DAWN.COM
    TODAY'S PAPER | JANUARY 18, 2022

    Updated 15 Jan, 2022 07:38am
    Another PTI lawmaker lets loose in National Assembly
    SYED IRFAN RAZA
    Welcome
    ISLAMABAD: A day after Defence Minister Pervez Khattak adopted a defiant stance in the face of Prime Minister Imran Khan, another Pakistan Tehreek-i-Insaf (PTI) leader assailed the government on the floor of the National Assembly for ignoring Khyber Pakhtunkhwa and demanded that top cabinet members including the PM himself be placed on the Exit Control List (ECL).

    Members who occupy the first three rows are the main culprits of the chaos in the country, so put their names on ECL and Pakistan will survive, Noor Alam Khan said on Friday, pointing towards the front rows of the treasury benches, where Prime Minister Khan also sits as leader of the house.

    Like the defence minister a day earlier, the ruling party MNA also raised the issue of the ban on new gas connections in KP, particularly the provincial capital of Peshawar.

    It seems that Peshawar is not a district of this country, but Mianwali and Swat are, the MNA from NA-27 said comparing his home town to the prime ministers constituency.

    He said that his constituents were among those who had been deprived of basic facilities such as gas and electricity. In our districts there is no gas, no electricity, he said.

    Peshawar MNA Noor Alam Khan calls for govt front-benchers, including PM, to be placed on ECL

    Without naming anyone in the government, Mr Alam asked the rulers to step out of their luxurious cocoons and heed the miseries of the people. Kindly get out of your aircraft, your land cruisers and BMWs and see the [miserable] condition of the people, he said.

    Meanwhile, the opposition claimed that the ruling PTI was facing disintegration within its ranks. The process of collapse within PTI has started, said Pakistan Muslim League-Nawaz (PML-N) leader Ahsan Iqbal in a TV interview on Friday.

    The vocal PTI leader from Peshawar passed remarks similar to what Defence Minister Pervez Khattak had reportedly said in a meeting of the ruling alliances parliamentary party on Thursday when he said: Am I not a Pakistani, am I only here to cast my vote?

    Interestingly, the defence minister had contended that the people of KP were not even given basic facilities and a ban had been imposed on new gas connections in the province. He had also warned that he would not vote for the PM if the problems of his province were not resolved. At this, PM Khan had reportedly asked Mr Khattak not to blackmail him.

    On Friday, another PTI leader, Sher Akbar Khan from Buner, raised the issue of excessive billing and demanded withdrawal of fuel adjustment charges in Malakand Division. He said the former tribal areas and Malakand Division had been declared tax-free zones but people of these areas were compelled to several different taxes.

    North Waziristan MNA Mohsin Dawar said the people of his constituency and many nearby areas were crying out for gas, but parliament was being fooled by the government over the quantum of gas given to KP.

    He claimed that the gas produced in KP province was not being supplied to its residents, rather it was going to citizens in other parts of the country.

    Bulldozing of bills
    The opposition continued to criticise the government NA on Friday for what it called the bulldozing of key bills the Finance Supplementary Bill 2022 and the State Bank of Pakistan (Amendment) Bill.

    [The PM] claimed that he will bring back $200 billion and will throw it in the face of [foreign] loan providers, but you have thrown the entire state bank in their face, PML-N stalwart Khawaja Asif said.

    He said that National Assembly Speaker Asad Qaisar had shown an extreme bias in the house in Thursday when important bills were being bulldozed. We have not seen such an attitude by the speaker and deputy speaker in the 50 years of constitutional history, he added.

    Shazia Marri of PPP said the government had imposed Rs 350 billion in new taxes on the people, who were already crushed under the burden of an unprecedented price hike.

    At this, Minister of State for Parliamentary Affairs Ali Mohammad Khan said the bills passed by the NA on Thursday had not been bulldozed as they had already been debated before the relevant standing committees.

    Deputy Speaker Qasim Suri, who was presiding over the session, adjourned the house until 4 pm on Monday.

    Published in Dawn, January 15th, 2022

  35. #1715
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    Wheels falling of the bus In naya pakistan

    Imf hit squad on front benches should look at Greece which was forced into austerity by the eu block.

  36. #1716
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    Quote Originally Posted by mazkhan View Post
    Wheels falling of the bus In naya pakistan

    Imf hit squad on front benches should look at Greece which was forced into austerity by the eu block.
    Yes, the economy left by PML-N was in such great shape in 2018 I wonder why PTI had to immediately run to IMF.


    Also PML-N and PPP have gone to the IMF a grand total of 13 times, so please educate yourself before running mouth.

  37. #1717
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    Quote Originally Posted by Major View Post
    So wait,

    poor people being provided free health care at pathetic run hospitals is a good thing?

    You really dont know the hospital problems do you.

    Pindi/Isb, only Shifa has clean dialysis machines. REst of the hospitals dont even clean their machines and often patients get hepatitis from these machines. So for you its alright for a person to get treatment from such places because govt is doing some kind of ehsan?

    People dont go to Hakeems and pirs because of poverty, they go to themm due to their belief system.
    Did they have a choice before this program?

    Lets stop criticism for the sake of criticism.

    Obviously, the initiation will not be perfect but now people have choice as they do not have to worry about making a choice between having a roti at night or buying medicine.

    From criticizing the color of the card to hospitals are not great in selected program, ridiculously lol

  38. #1718
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    Quote Originally Posted by mazkhan View Post
    Wheels falling of the bus In naya pakistan

    Imf hit squad on front benches should look at Greece which was forced into austerity by the eu block.
    Pakistan is not going to be Greece but if we bring back to old politician and do not go through this tough time then Pakistani will continue to force to leave Pakistan.

  39. #1719
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    Exports are performing really well. Exports of goods in calendar year 2021 reached highest level of $28b. Exports of goods and services are slated to test upper limit of $40b in FY22 (ending in June 2022). Target is $38b. That coupled with remittances of $32b would be very helpful for the country. Only issue is imports are also skyrocketing on the back of machinery import (that translates into future exports) and exponentially rising energy prices. If imports are curbed we are golden.



    Exports + remittances increased by $15b in PTI's 3 years. By the time their term is over this will probably hit $25b.




    Pakistan well on its way to recovering in the economic field. We should have been where Indonesia is today. Around $200b in exports and a top 15 economy. Inshallah the journey of a thousand miles starts with a single step.

  40. #1720
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    Quote Originally Posted by Syed1 View Post
    Exports are performing really well. Exports of goods in calendar year 2021 reached highest level of $28b. Exports of goods and services are slated to test upper limit of $40b in FY22 (ending in June 2022). Target is $38b. That coupled with remittances of $32b would be very helpful for the country. Only issue is imports are also skyrocketing on the back of machinery import (that translates into future exports) and exponentially rising energy prices. If imports are curbed we are golden.



    Exports + remittances increased by $15b in PTI's 3 years. By the time their term is over this will probably hit $25b.




    Pakistan well on its way to recovering in the economic field. We should have been where Indonesia is today. Around $200b in exports and a top 15 economy. Inshallah the journey of a thousand miles starts with a single step.
    Indonesia is a good model for Pakistan, however for Pakistan to be an exporter like Indonesia requires it to develop modern industries.

    Here are the top exports of Pakistan and Indonesia.

    Name:  Screen Shot 2022-01-18 at 12.50.31 PM.jpg
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    https://www.worldstopexports.com/ind...op-10-exports/

    Name:  Screen Shot 2022-01-18 at 12.51.25 PM.jpg
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    https://www.worldstopexports.com/pak...op-10-exports/

    You can see that exports from modern industries (Iron, steel: $10.8 billion (6.6%), Electrical machinery, equipment: $9.2 billion (5.7%), Vehicles: $6.6 billion (4%), and Machinery including computers: $5.2 billion (3.2%)) total $31.8 billion, while for Pakistan it is $0.38 B (Optical, technical, medical apparatus: $380.5 million (1.7%)).

    So for Pakistan to be like Indonesia, it requires export oriented modern industries which in turn can only develop with Western FDI. The Chinese are not going to set up manufacturing in Pakistan because they already have a huge amount of low cost labor that needs to be employed.

    A few more billion dollars of textile exports bought by a severe devaluation of the currency will only lead to short term export increases.

    IK has singularly failed in the most pressing economic need for Pakistan, the development of export oriented modern industries. Lack of exports leads to a widening trade deficit, which leads to further currency devaluation, raging inflation and more economic misery for the middle and lower classes.
    Last edited by Saj; 19th January 2022 at 02:09.

  41. #1721
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    Dr @Mamoon used to be the biggest detractor of Peshawar BRT. I hope he isn't one of these ~300,000 people taking the route daily.

    I also hope he has not yet used the free universal healthcare provided by the PTI government.


  42. #1722
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    Congrats @Major from tomorrow universal health coverage is launching in your area. I hope you do not use it because you are not a fan of the color.


  43. #1723
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    God forbid you never have to use it, but if you do then just close your eyes and think that red is the universal color for healthcare (Red Cross) and green is Pakistan's color. This color combo matching PTI's colors is pure coincidence.

  44. #1724
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    Quote Originally Posted by Syed1 View Post
    God forbid you never have to use it, but if you do then just close your eyes and think that red is the universal color for healthcare (Red Cross) and green is Pakistan's color. This color combo matching PTI's colors is pure coincidence.
    Actually that colour above looks like ppp colours.

    Moving onto the BRT...bro he lives in India..I doubt he uses anything in peshawar.

  45. #1725
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    Quote Originally Posted by Syed1 View Post
    God forbid you never have to use it, but if you do then just close your eyes and think that red is the universal color for healthcare (Red Cross) and green is Pakistan's color. This color combo matching PTI's colors is pure coincidence.
    Some of the pretentious liberal will continue to allow political dynasty to rule them and pretend almost all of them are better than them due to short term gains.

    The funniest aspect of their comments is, almost all of them want Pakistan and Pakistanis to act over night after electing IK as if Pakistan is a first world country.

    This program is far better than handing out the cash, it give poor Pakistani freedom of mind regarding their health, albeit not at best of the hospital but still it gives them option to see a doctor which most did not have due to funds. The program is it in infancy, it will take time, and as the economy gets better, this program, if continues will get better.

    Criticism of color of the card and hospital is almost displaying ignorance about Pakistan and pretending Pakistan has become a first world country in regards to this issue but are quick to bash Pakistan not being a first country in other threads, lol - make up your mind.

    And then this other guy on every thread - IK hasn't developed modern industries - Oh bhai, rhenay dey, we heard you the first time, you made your point clear, and it has been counter plenty of times - you yelling out same point on every thread is "hollow comment", One day, who knows, Ik might praise Modi for something, will that make you fall in love Ik just as you did with NS after NS held Modi's hand? lol

  46. #1726
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    Quote Originally Posted by Napa View Post
    Indonesia is a good model for Pakistan, however for Pakistan to be an exporter like Indonesia requires it to develop modern industries.

    Here are the top exports of Pakistan and Indonesia.

    Name:  Screen Shot 2022-01-18 at 12.50.31 PM.jpg
Views: 444
Size:  20.7 KB

    https://www.worldstopexports.com/ind...op-10-exports/

    Name:  Screen Shot 2022-01-18 at 12.51.25 PM.jpg
Views: 448
Size:  23.1 KB

    https://www.worldstopexports.com/pak...op-10-exports/

    You can see that exports from modern industries (Iron, steel: $10.8 billion (6.6%), Electrical machinery, equipment: $9.2 billion (5.7%), Vehicles: $6.6 billion (4%), and Machinery including computers: $5.2 billion (3.2%)) total $31.8 billion, while for Pakistan it is $0.38 B (Optical, technical, medical apparatus: $380.5 million (1.7%)).

    So for Pakistan to be like Indonesia, it requires export oriented modern industries which in turn can only develop with Western FDI. The Chinese are not going to set up manufacturing in Pakistan because they already have a huge amount of low cost labor that needs to be employed.

    A few more billion dollars of textile exports bought by a severe devaluation of the currency will only lead to short term export increases.

    IK has singularly failed in the most pressing economic need for Pakistan, the development of export oriented modern industries. Lack of exports leads to a widening trade deficit, which leads to further currency devaluation, raging inflation and more economic misery for the middle and lower classes.
    This actually boils down to the difference in business culture between Pakistan and India. In India there is a proper mindset that when you invest in Education, Technology, you are taking the right steps for future generations to reap the rewards. In Pakistan, i know full well that the Pakistani Textile exporters whatever subsidies they were receiving from the Govt of Pakistan, instead of using that to boost their exports, buy modern machinery, investing in R&D, were instead investing the money in the stock market, real estate e.t.c.

    Imran Khan cannot micro manage and change the mindset of Pakistani entreprenuers who just want a fast ROI instead of having a 5-10 year vision.

  47. #1727
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    Quote Originally Posted by Savak View Post
    This actually boils down to the difference in business culture between Pakistan and India. In India there is a proper mindset that when you invest in Education, Technology, you are taking the right steps for future generations to reap the rewards. In Pakistan, i know full well that the Pakistani Textile exporters whatever subsidies they were receiving from the Govt of Pakistan, instead of using that to boost their exports, buy modern machinery, investing in R&D, were instead investing the money in the stock market, real estate e.t.c.

    Imran Khan cannot micro manage and change the mindset of Pakistani entreprenuers who just want a fast ROI instead of having a 5-10 year vision.
    Investing in the stock market also benefits the economy as higher prices for stocks makes more capital available for their firms.

    People from the subcontinent (including Pakistan) are some of the smartest people in the world. If you give Pakistani entrepreneurs a proper economic environment, they will deliver. They are not stupid, they put their money where they feel they will get the maximum return. If the entrepreneurs are not investing in the more productive industries, it is because they feel those industries cannot develop in the current environment. The answer again comes back to making the conditions right for developing modern industries, and that is not happening not because of the entrepreneurs (who are very intelligent) but due to the conditions created by the military/government.

  48. #1728
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    The federal budget deficit in the first half of current fiscal year shot up to Rs1.8 trillion, up 29% compared to the same period of previous year, despite a slowdown in development spending and double-digit growth in revenues.

    The budget deficit the gap between federal income and expenditures was provisionally recorded at Rs1.8 trillion, or 3.3% of gross domestic product (GDP), for July-December of the ongoing fiscal year, sources told The Express Tribune.

    They said that the number might change slightly due to the reconciliation of development spending figures.During the first half of previous fiscal year, the federal deficit had been recorded at around Rs1.4 trillion, which was equal to 3.1% of the size of national economy.

    The annual federal budget deficit target is Rs4 trillion for the current fiscal year. Usually, heavy spending is made in the last quarter of every fiscal year.

    A major reason behind the surge in deficit was the uptick in current expenditures, as the government spent a lower amount under the Public Sector Development Programme to meet a condition of the International Monetary Fund (IMF) loan programme.

    The provisional fiscal operation figures indicated that the governments strategy to contain the growing public debt by concentrating on increasing revenues may not help in a significant way because most of the Federal Board of Revenue (FBR) taxes were being transferred to the provinces.

    Current expenditures were equal to 92% of the total federal government expenditures and 40% of them were spent only on paying interest on loans. Federal development spending stood at only Rs274 billion in the first half of current fiscal year, which was higher than the comparative period of previous year, but constituted only 30% of the annual budget of Rs900 billion.

    Finance Minister Shaukat Tarin said in November that the PSDP would be slashed by Rs200 billion to Rs700 billion to reduce the spending bill aimed at rationalising the expenditures.

    Development spending was higher by 18% (Rs42 billion) compared to the same period of previous fiscal year, which was not in line with the annual allocation.

    After remaining active for a brief period, the IMFs $6 billion loan programme derailed once again in June last year. The IMF has announced January 28 as the date for its board meeting to review Pakistans request to revive the programme and approve $1 billion in loan tranche.

    However, one prior action, approval of the State Bank of Pakistan Amendment Bill 2021, remains partially implemented, as the Senate has not yet approved the bill.

    The gap between federal income and expenditure grew despite a healthy momentum in the FBRs tax collection. The tax collection increased nearly one-third to Rs2.92 trillion in the first half of current fiscal year on the back of higher collections at the import stage.

    However, the gains made by the FBR were offset by nearly 17% dip in non-tax revenues.

    Non-tax revenue collection amounted to Rs720 billion in the first half, down Rs142 billion compared to the same period of previous year. The non-tax revenue collection was equal to only 35% of the annual target of Rs2.1 trillion.

    Gross federal revenue receipts of the government increased to Rs3.68 trillion, up 18%. After paying Rs1.7 trillion to the provinces as their share in the National Finance Commission award, the net federal governments revenues were only Rs1.95 trillion.

    Total expenditures incurred by the federal government stood at Rs3.75 trillion, almost double the net government revenues, thanks to the uncontrolled current expenditures that were eating into the tax revenues.

    Current expenditures amounted to Rs3.5 trillion, up 18% or Rs520 billion, during the first half of current fiscal year. Interest payments stood at Rs1.4 trillion, slightly less than the previous year, but consumed 72% of the governments net revenues.

    Some analysts argue that the central banks interest rate should not be more than 6-7% to control the growing budget deficit. They say a one-percentage-point increase in interest rate jacks up the debt servicing cost by around Rs150 billion.

    The government has enforced a Rs360 billion mini-budget by imposing 17% sales tax on over 140 goods. But the additional revenues that it will raise may be lost due to the proportionate increase in the share of provinces and higher debt servicing after the central bank increased the interest rate close to double digits.

    During the first half of current fiscal year, the defence spending stood at Rs514 billion, up over 5%, consuming another 26% of the governments net revenues.

    The federal primary budget deficit during the first half of current fiscal year was Rs402 billion against the surplus of Rs82 billion during the same period of previous fiscal year.

    After incorporating the impact of provincial cash surplus of Rs480 billion in H1, the overall budget deficit was provisionally recorded at Rs1.32 trillion, or 2.5% of GDP.

    Published in The Express Tribune, January 20th, 2022.


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  49. #1729
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    Quote Originally Posted by Syed1 View Post
    Congrats @Major from tomorrow universal health coverage is launching in your area. I hope you do not use it because you are not a fan of the color.

    As a tax payer living in this country i will register and reap its benefit


    The first and only PM of Pakistan to lose the peoples confidence = Imran Khan

  50. #1730
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    Economy grew by 5.37% in FY21 and expected to cross 5.5% in current FY22. May Allah give sabar to supporters of PPP and PML-N, by God they need it.


  51. #1731
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    GDP is also undergoing rebasing. It has not been rebased since 2005-2006 because PPP and PML-N were busy looting and plundering and couldn't be bothered to take on such an essential task. I think India and Bangladesh rebase their GDP every 3-5 years. The fact that we haven't rebased in so long we have not even included newly emerged industry like smartphone manufacturing. Last year Pakistan produced 20 million smartphones and this was not even counted in the GDP.





  52. #1732
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    Actually after rebasing GDP grew by 5.6% in FY21... this coupled with the -1% in FY20 (due to covid) means a cumulative growth of 4.6% in two years MUCH better than majority of the world most of which is yet to recover from the covid aftershocks. This year I believe growth may touch 6%, however there are signs of overheating with the imports sky rocketing. That's partly due to exponential rise in oil prices as well as one-time expenses such as vaccines.

  53. #1733
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    Quote Originally Posted by Major View Post
    As a tax payer living in this country i will register and reap its benefit
    So you should but your criticism was churlish.

  54. #1734
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    Quote Originally Posted by Syed1 View Post
    Actually after rebasing GDP grew by 5.6% in FY21... this coupled with the -1% in FY20 (due to covid) means a cumulative growth of 4.6% in two years MUCH better than majority of the world most of which is yet to recover from the covid aftershocks. This year I believe growth may touch 6%, however there are signs of overheating with the imports sky rocketing. That's partly due to exponential rise in oil prices as well as one-time expenses such as vaccines.
    The Hindutuva are going paraplectic on the Dawn website comments section. Just imagine if we didn't have Covid and the oil price rises-7% would be within our reach.

  55. #1735
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  56. #1736
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    ISLAMABAD: The size and growth rate of Pakistan’s economy increased significantly during 2020-21, making it the second-highest economic growth recorded in the last three years of the incumbent government.

    As a result of the rebasing exercise, the growth rate improved from the earlier estimate of 3.94pc to 5.4pc, while the size of the economy rose to $346.76 billion from the provisional estimate of $296 billion, according to the National Acco*unts Committee, which appro*ved these figures on Thursday.

    The 104th meeting of the NAC, chaired by Planning Secretary Abdul Aziz Uqaili, approved the revised figures of Pakistan’s gross domestic product (GDP).

    The size of the economy grew in dollar terms as the rupee strengthened against the greenback — the highest-ever increase in any year.

    Per capita income has also been re-calculated at Rs266,614, up from the earlier figure of Rs246,414 for 2020-21. The per capita income in dollar terms has jumped to $1,666 from earlier projections of $1,543 during the fiscal year.

    Revised GDP figures show rupee grew against dollar, per capita income jumped from $1,543 to $1,666

    Growth for agriculture was reported at 3.48pc, for industry at 7.79pc and for services at 5.70pc on the basis of the rebased GDP.

    The ministry of planning and the Pakistan Bureau of Statistics rebase the national accounts as well as price statistics after every five years, as both go hand in hand to capture more areas and economic activities that have taken place in the last couple of years. However, this time around the accounts and prices were rebased after 10 years.

    In the absence of Finance Minister Shaukat Tarin who was in quarantine, Energy Minister Hammad Azhar told a news conference that despite various challenges, including the pandemic, all economic indicators were positive.

    He claimed his government had achieved impressive growth at a lesser cost than the previous Pakistan Muslim League-Nawaz (PML-N) government.

    Mr Azhar admitted that inflation was hitting the salaried class, but focused more on major earnings in the agriculture and industrial sectors. He said the government did provide subsidy to the poor, but said that his government will consider some steps to minimise the impact of inflation on the middle class.

    He cabinet colleague, Minister for Planning Asad Umar took to Twitter to celebrate, tweeting: “This is the 2nd highest growth in last 14 years.”

    He said the upward revision in growth figures was due to very strong industrial growth in the last quarter of the last year.

    Energy Minister Azhar said that it was down to the prudent economic policies of the government that Pakistan’s circular debt had decreased by Rs130 billion annually. He said the ban on new gas connections was enforced across the country and not specific to any province. To another question, he said exporters were getting uninterrupted gas supply

    Due to improved coverage and better estimation of input output structure of industries, gross value addition has increased by Rs3.1 trillion in the base year 2015-16 from Rs27.4 to Rs30.5 trillion, showing an increase of 11.3pc in the gross value added (GVA) for the base year 2015-16. This shows that in the previous base of 2005-06 economy was under estimated by 11.3pc.

    Agriculture showed an increase of 8.3pc from Rs6.7trn to Rs7.3trn, industry grew by 11.9pc from Rs5.3trn to Rs5.9trn and services enhanced by 12.5pc from Rs15.3trn to Rs17.3trn.

    With the rebasing and level shifting of the economy from Rs29.1trn to Rs32.7trn in 2015-16, the GDP at market prices increased to Rs55.5trn in 2021 while the gross national income increased to Rs59.3trn, respectively.

    NAC meetings are usually held in May every year, but Thursda’s meeting was doubly significant as it reviewed and approved the rebased series from 2015-16 to 2020-21 on the prices of 2015-16.

    The methodology adopted in the re-basing is in line with the 2008 System of National Accounts. From 2014-15 to 2016-17, PBS has conducted about 45 census, surveys and studies to properly capture the economic activities in the country. The results of these have already been reviewed by internal and World Bank experts.

    Efforts have been made to include new economic activities. Dedicated surveys and studies have been conducted to capture the share of economic activities in the economy. Input output ratios of various industries have been updated, which has resulted in better reflection of their contribution in the economy, added the official announcement.

    Published in Dawn, January 21st, 2022


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  57. #1737
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    Pakistan on Thursday approved to add Rs3.1 trillion value to the country’s economy through an increase in the coverage of economic activities and a changed methodology that expanded the size of the economy to $347 billion and jacked up the growth rate to 5.6% in the last fiscal year.

    At $347 billion, Pakistan’s standing among world economies has improved to 35th -- below Denmark -- which has $355 billion worth of economy size.

    The decision to rebase the economy from fiscal year 2005-06 to 2015-16 also resulted in a reduction in the public debt burden but sank further the tax-to-GDP ratio. The Federal Board of Revenue’s (FBR) tax-to-GDP ratio now dropped to mere 8.5%.

    In addition there was a notional dip in the spending on health and education that was already on the lower side compared with the global standards.

    Pakistan readjusted the methodology and coverage scope after a gap of nine years. The old base year methodology was implemented in 2013. The rebasing exercise has enhanced the coverage of economic activities, and improve the estimation methodologies and sources of data.

    The National Accounts Committee (NAC) approved the change of the base year to calculate the value of the goods and services produced in the economy from 2005-06 to 2015-16, known as the rebasing of the economy.

    As a result, the value of the economy that was estimated at Rs27.4 trillion in 2015-16 has now increased to Rs30.5 trillion, according to a statement issued by the Planning Ministry after the meeting. This shows that in the previous base year of 2005-06, the economy was underestimated by 11.3%, said the ministry.

    As a consequence, the rupee value of the total goods and services produced in the economy in fiscal year 2020-21 is now estimated at Rs55.5 trillion. The expansion in the size of the economy would also show reduction in the budget deficit in terms of the size of the economy and provide room to the government to issue new sovereign guarantees that are also pegged with the size of the economy.

    Read: Pakistan revises up 2020-21 ‘GDP to 5.37%’

    In dollar terms, the size of the economy is now estimated at $347 billion in the last fiscal year. However, it is still lower when compared with the $357 billion size of the economy estimated during the year of 2017-18, which is the last year of the Pakistan Muslim League-Nawaz (PML-N) government.

    Earlier, on the basis of the old methodology, the GDP size had been estimated at $298 billion in the previous fiscal year and at $315 billion during the last year of the PML-N’s tenure.

    The per capita income also rose to $1,666 in the last fiscal year – up from $1,543. However, it is still lower than $1,768 per person estimated during the last year of the PML-N government.

    In a big sigh of relief to the government that is reeling under heavy debt burden, the rebasing exercise has reduced the public debt-to-GDP ratio from 83.5 to 71.8% for fiscal year 2020-21. But there is no reduction in the public debt, which remains at Rs39.9 trillion by June 2021.

    There is also 14 percentage points reduction in the total public debt and liabilities that will now be shown at 86% from 100% under the old methodology. But the total public debt and liabilities remained at Rs47.8 trillion by end of June last year.

    The FBR’s tax-to-GDP ratio is now 8.5% as against 9.6% under the old methodology. About Rs556 billion worth of goods have been added in the base value of the agriculture sector, which still seems on the the lower side as the Pakistan Bureau of Statistics (PBS) did not conduct fresh livestock census.

    An addition of Rs631 billion is made in the base value of the industrial activities but the major increase of Rs1.9 trillion is made in the value of the services sector. The maximum increase has been witnessed in the subsector of wholesale and retail. Consequently, the share of agriculture in the GDP rises from 23 to 24%.

    The industrial sector’s share has shrunk to just 19.5% from 20.9%, showing de-industrialisation in the country. The share of the services sector has increased from 56 to 56.6%. Also, there has been over 16% reduction in net primary income, to which the State Bank of Pakistan (SBP) had objected to during the meeting.

    GDP Growth rate

    As per the new methodology, the economic growth rate for the last fiscal year 2020-21 has been increased to 5.6% from 3.9% as per provisional estimates, which was the highest in past 14 years. Even at the old base year, the GDP growth rate was 5.4% due to incorporation of final data of the LSM and agriculture sectors.

    For the first year of the PTI rule, the GDP growth figure is also adjusted upward to 3.1% from 2% and for the second year (2019-20) the contraction figure is now further revised downward to 1% negative growth.

    However, the GDP growth rate for fiscal year 2017-18 – the last year of the PML-N rule – was also revised upward to 15-year high of 6.1% from 5.5%, according to the National Accounts Committee.

    The agriculture sector growth rate is adjusted at 3.5% from 2.8% in fiscal year 2020-21. But the industrial sector growth is revised downward to 7.8% from 9% and the services sector growth estimated are adjusted upward to 5.7% from 4.9% for fiscal year 2020-21

    The Planning Ministry said that since 2020-21 was the recovery year after Covid-19 so all the industries showed impressive growth due to low base. The agriculture sector registered the growth mainly because of increase in wheat production, maize, rice and sugarcane.

    Meanwhile, Federal Minister for Planning and Development Asad Umar said the government has revised up its economic growth rate for 2020-21 to 5.37% from 3.9%, said.

    "The growth in 2020-21 was 5.37%," said Asad Umar in a tweet, adding the National Accounts Committee (NAC) approved the revised estimate of GDP growth.

    https://tribune.com.pk/story/2339672...vidend-to-govt


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  58. #1738
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  59. #1739
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    Quote Originally Posted by Savak View Post
    This actually boils down to the difference in business culture between Pakistan and India. In India there is a proper mindset that when you invest in Education, Technology, you are taking the right steps for future generations to reap the rewards. In Pakistan, i know full well that the Pakistani Textile exporters whatever subsidies they were receiving from the Govt of Pakistan, instead of using that to boost their exports, buy modern machinery, investing in R&D, were instead investing the money in the stock market, real estate e.t.c.

    Imran Khan cannot micro manage and change the mindset of Pakistani entreprenuers who just want a fast ROI instead of having a 5-10 year vision.
    Probably will get a generically deviated response which will have mentioned of Pak military.

    Some of them wanted FDI, probably within minutes of taking oath. lol

    Gradual slow process has begun of stabilizing the economy and it will continue, In Sha Allah

    Maybe, when IK clone himself, he can micromanage him and make them happy.

    such a waste of time because comment are generated to bash Pakistani military via IK.

  60. #1740
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    Quote Originally Posted by LaLoco View Post
    Probably will get a generically deviated response which will have mentioned of Pak military.

    Some of them wanted FDI, probably within minutes of taking oath. lol

    Gradual slow process has begun of stabilizing the economy and it will continue, In Sha Allah

    Maybe, when IK clone himself, he can micromanage him and make them happy.

    such a waste of time because comment are generated to bash Pakistani military via IK.
    Its been going on for years. Same ghisti phiti lines and low value arguments of the Mera Bharat Mahaan brigade. Ironically if Bharat is so Mahaan why don't they live there.



    Anyways the down side of the rebasing has been that the tax-to-GDP and exports-to-GDP have fallen to abysmal levels. These two factors we really need to get a hold of, but not possible till we have corrupt institutions like FBR.

    Finance minister has himself said that retail sector reports sale on only Rs. 3.5 trillion when actual sale is close to Rs. 18 trillion, imagine the quantum of tax that is NOT being collected. Actually the average Joe is paying it as the tax is built in the price but the retailers are not forwarding it to the government. Only now there is a push to integrate Tier-1 retailers with FBR. Now they all give a digital receipt with FBR QR code through which the receipt can be verified on the FBR Tax Asaan app. However these are just big budget Tier-1 stores. Over 95% retailers might be small karyana stores that mostly deal in cash transactions and do not have digital receipts.

    Then there is whole agriculture sector which is completely untaxed primarily because majority of the people sitting in parliament are big landholders.

  61. #1741
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    Saw some elite class losers slitting their wrists because government imposed Rs 75,000 tax on Iphone13.... Samsung as usual played it smart, slashed prices on Samsung phones made in Pakistan.


  62. #1742
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    The countrys current account deficit surpassed $9 billion in the first half of the ongoing fiscal year, accounting for 5.7 per cent of the gross domestic product, the State Bank of Pakistan (SBP) data showed on Saturday.

    The current account deficit which measures the flow of goods, services and investments into and out of the country is well ahead of the governments revised target of 4pc of GDP for the current fiscal year.

    The SBP said the current account deficit of $9.09bn was led by a significant terms of trade shock amid ongoing economic recovery.

    The deficit was broadly unchanged at $1.93bn in December from $1.89bn in November 21.


    The July-December deficit stands in total contrast to a surplus of $1.247bn (0.9pc of GDP) a year ago. However, that six-month surplus also turned to be a deficit of $1.916bn, or 0.6pc of GDP, by the end of the 2020-21 fiscal year.

    Represents 5.7pc of GDP, far above govts 4pc target

    The July-December current account deficit was largely fuelled by a rising import bill, which skyrocketed 53pc to $41.66bn during the same period.

    That averaged to $6.9bn trade deficit per month compared to $4.497bn in the year-ago period.

    The SBP data showed that the current account deficit in the second quarter (October to December) of this fiscal year was much higher than the previous quarter, suggesting that the government is willing to keep the foreign exchange reserves equal to minimum of three months of import bills.

    The second-quarter deficit stood at $5.57bn compared to $3.56bn in the first quarter.

    The government and the State Bank have taken several measures to curtail the import bill but to no avail.

    Along with trade and industry, the government also believes that the higher import bill shows higher economic activity in the country, particularly the exports sector. However, data for the six-month period shows exports of goods and services at $18.65bn compared to $41.66bn imports.

    As a result, the trade deficit nearly doubled to $23bn from $12.33bn in the same period a year ago.

    During the last two fiscal years (ie 2019-20 and 2020-21), the current account deficit amounted to 1.7pc and 0.6pc of GDP, respectively.

    With higher borrowings to meet external obligations, the country seems to head for a debt trap as it has failed to increase exports on a par with surging imports.

    The government links the rising import bill to higher machinery imports, a sign of growth in the economy.

    However, analysts and researchers believe that the current account deficit can create much bigger problems than the expected economic growth.

    Published in Dawn, January 23rd, 2022


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  63. #1743
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    Prime Minister Imran Khan has stressed Finance Minister Shaukat Tarin to initiate steps to improve economic well-being of the urban lower and middle class population affected by “imported inflation”.

    According to a statement issued by the PM Office on Saturday, Premier Imran and Tarin in a telephonic conversation discussed the ongoing global commodity price super cycle which has adversely affected inflation and trade deficit in Pakistan. PM Imran also inquired about his health condition.

    The prime minister highlighted that international organisations like Bloomberg and The Economist had recognised Pakistan’s successful economic reforms and initiatives taken during the Covid pandemic to save jobs and lives.

    Overall, the PM expressed satisfaction over tax collection, exports and remittances. During the talk, the prime minister congratulated the finance minister and his team on achieving the gross domestic product (GDP) growth of 5.37% in three years, which led to creation of substantial jobs and rise in per capita income.

    Finance Minister Tarin informed the PM that local food prices had been declining since December as reflected in the weekly sensitive price indicator. Tarin said he was hopeful that the as soon as the prices of international commodities stabilise, the pressure on imported goods will come down as well.
    On Twitter, Tarin said that for the third consecutive time, Pakistan stood in the top three in The Economist’s Global Normalcy Index.

    “No other country has achieved this in the world.” He said the same is reflected in the revised GDP growth of 5.37 per cent in FY21, the second-best in the last 14 years. “Moving on with the structural changes, inclusive growth and policy actions, Bloomberg has also recognised that Pakistan has entered the decade of sustained growth,” he said.

    The minister said that the next 10 years will help reduce income disparity, increase employment and improve human development. The Economist’s normalcy index aims to determine which countries are returning to their pre-pandemic levels, by grading each country using eight indicators: time not at home, retail, office use, public transport, road traffic, flights, cinema and sports attendance.

    In June last year, the report had similarly placed Pakistan at number three in its index out of 50 countries. The Global Normalcy Index plummeted in March 2020, stated the report, as many countries imposed restrictions on the movement of their citizens.

    In the category of retail, office use, time not spent at home and public transport, Pakistan had ranked over 100. However, in the category of flights and cinema it scored low. (With input from app)


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  64. #1744
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    Prime Minister Imran Khan on Sunday said the government will take measures to provide relief to the salaried class as it was the only one facing a financial crunch amid record inflation.

    During a live question-answer session with the public via telephone, the premier said inflation was a global issue as due to Covid-19, developed countries like the US and Canada as well were facing high inflation.

    According to Imran, in Pakistan, the situation was not as bad as the rest of the world as Pakistan's growth rate was 5.37 per cent in spite of all these challenges.

    He said due to a boom in the agri and construction sectors, the income of people linked to these industries rose significantly. There was a 73 per cent increase in the income of the farmers, he said, adding that the farmers earned additional profits to the tune of Rs1400 billion.

    He said the skilled labour employed by the industries witnessed 40 per cent increase in their income. According to the PM, the construction sector also recorded unprecedented growth that resulted in higher wages for the labourers as well.

    The corporate sector also registered record growth, the premier said, adding that he will ask them to raise the salaries of their employees amid such high profits.

    Imran said only the salaried sector was lagging behind but the government will take additional measures to facilitate them amid hyperinflation. The government will take measures to support the lower middle class, including the government employees, but they need to have patience, he added.

    The premier also criticised the media, saying it was the right of the media to criticize the government but it should avoid disseminating “propaganda and fake news”.

    He said the fight of the PTI government was against mafias and “some elements” in the media had also sided with these “mafias” to spread hopelessness in the country. The PM said as per the reports in foreign media outlets, the economy in Pakistan was growing amid an increase in tax collection.

    During the session, Imran ruled out any deal with “corrupt opposition leaders”. He said that former dictator Gen (retd) Pervez Musharraf committed the "biggest sin" by granting NROs to the opposition. “Half of the taxes we collect are spent on paying back loans taken during their governments.”

    In response to a question regarding elections, PM Imran said the PTI will only give tickets on the basis of merit. “If someone wants to give a ticket to a relative then a special committee headed by me will decide on the issue,” Imran added.

    Speaking about the IMF package, he said the government wanted to document the economy through the mini-budget.

    The PM said tax exemptions granted to facilitate certain sectors were resulting in tax evasions, adding that only 2 million people were paying taxes. “If only two million people will pay taxes in a country of 200 million…then how will I have money to fix this country,” the premier added.

    Imran said the Federal Board of Revenue was being reformed and the system was being automated to curb evasion of sales tax. He said the government will go after the wealthy who “live in big houses and drive expensive cars” but do not pay taxes.

    He said the government will introduce scholarships to the tune of Rs47 billion to support the students hailing from lower-income classes. He also talked about the Single National Curriculum (SNC), saying over the past 74 years, the education system implemented in Pakistan held the students from the lower-income classes back.

    On Feb 1 last year, the PM for the first time addressed the public's concerns via live telephone calls.

    During a similar session in April last year, the prime minister received flak for making insensitive remarks regarding rape cases in Pakistan.

    In the interactive session with the public, a caller inquired the premier about the steps his government plans on taking to tackle the rise in the cases of sexual violence.

    https://tribune.com.pk/story/2340045...t-of-inflation


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  65. #1745
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    Quote Originally Posted by Syed1 View Post
    Dr @Mamoon used to be the biggest detractor of Peshawar BRT. I hope he isn't one of these ~300,000 people taking the route daily.

    I also hope he has not yet used the free universal healthcare provided by the PTI government.

    Using public transport, that too regulated by PTI government, is beneath me. Also if God forbid I or my loved ones need any treatment, I will opt for private treatment either in Pakistan or abroad. I don’t need charity service from this incompetent government.

  66. #1746
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    https://tribune.com.pk/story/2340190...st-rate-at-975

    Monetary policy: SBP maintains status quo in interest rate at 9.75%

    Decision largely in line with market expectations

    KARACHI: In line with market expectations, the State Bank of Pakistan left the benchmark interest rate unchanged at 9.75% for the next one and half month on Monday.

    The market had expected status quo in the interest rate after high ranking officials from the central bank reiterated that they would hold the rate in the medium-run and wait for responses to come against the measures taken so far.

    Stability in the rate does not mean the current cycle of the rate hike has come to an end and there is still room available for another hike of 50-100 basis points in second half (Jan-Jun) of fiscal year 2022.

    Conflicting movements in economic indicators suggest that the worst is yet to come but still the market had developed consensus that the policy rate would remain unchanged.

    Despite monetary tightening, the State Bank of Pakistan (SBP) estimates that the inflation reading and current account deficit would remain high in the current fiscal year compared to its previous projections.

    Accordingly, it revised up its estimates for inflation to 9-11% in December 2021 for full fiscal year compared to earlier projection of 7-9%.

    It also revised up the estimate for the current account deficit to 4% of GDP (gross domestic product) for the fiscal year against 2-3% of GDP anticipated earlier.

    Owing to the lockdown imposed to contain the spread of Covid-19 in the country in March 2020, the SBP had aggressively slashed the benchmark interest rate by 625 basis points from March to June 2020 to 7%.

    However, the central bank raised it to 9.75% during September-December 2021 to control rising inflation and narrow down the widening current account deficit.

    In its monetary policy announcement on November 19, the State Bank of Pakistan increased the number of annual monetary policy meetings to eight from six.

    The monetary policy is an effective tool with the central bank that is used to curb inflation. The SBP announces a target rate every two months, which serves as the benchmark for overnight funds in the inter-bank market

  67. #1747
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    Quote Originally Posted by Mamoon View Post
    Using public transport, that too regulated by PTI government, is beneath me. Also if God forbid I or my loved ones need any treatment, I will opt for private treatment either in Pakistan or abroad. I don’t need charity service from this incompetent government.
    You could have downplayed the importance of public transport regulated by PTI without insulting the sector of society that heavily rely on it.

    Again, you could have downplayed the importance of "Health insurance", which you characterized as charity without disrespecting those who needed it.

    But I won't downplayed seeing the sector of Pakistan that you belong to loosing their shhhh and that make it even sweeter to keep supporting the PTI and IK
    Last edited by LaLoco; 24th January 2022 at 19:14.

  68. #1748
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    Quote Originally Posted by Mamoon View Post
    Using public transport, that too regulated by PTI government, is beneath me. Also if God forbid I or my loved ones need any treatment, I will opt for private treatment either in Pakistan or abroad. I don’t need charity service from this incompetent government.
    Beneath you, what a disgusting comment. Your just an anonymous loser on internet forum, dont get ahead of yourself.

  69. #1749
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    Jazz investing in setting up a data center.

  70. #1750
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    National Cloud Policy to be approved tomorrow.... Seems Amazon and Google are interested in providing their cloud services.



    25 million smartphones were manufactured in Pakistan in 2021


  71. #1751
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    Even far off rural districts of Punjab and KP now have Rescue 1122 service. Meanwhile the country's largest city, Karachi, and second biggest province Sindh has no such service because of PPP who people like @Major support because of personal benefits. Kya howa agar corrupt hain? kam se kam humein tu paaltay hain. Kya howa agar awaam mar gayi? kam se kam Bhutto tu zinda hai. Kya howa agar 15 saal mein koi performance nahi? kam se kam Billoo apnay nakli accent mein english tu achi bol lehta hai.


  72. #1752
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    PTI taking responsiblity of the PPP Sindh government and undertaking tasks of the provincial government.... but as per liberal brigade Billoo should be PM because of his fake english accent.


  73. #1753
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  74. #1754
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    Quote Originally Posted by Bewal Express View Post
    The Hindutuva are going paraplectic on the Dawn website comments section. Just imagine if we didn't have Covid and the oil price rises-7% would be within our reach.
    I did visit the Dawn website but have no difficulty walking, none at all.

  75. #1755
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    Anybody understands why Pakistan is going for national asset backed bonds at an exorbitant interest rate? While their reserves are not high ,it is still 17B which is good enough for atleast 6 months backup. They don't have a really compelling need like Sri Lanka who have less than 1B and need to handover sovereignty of certain national assets permanently to China to avoid BoP.

    China does deserve credit for ruthless ability to colonize multiple countries in Asia, Africa and South America.

  76. #1756
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    A very positive review from international economic scholars on the performance of PTI and IK.

    https://dailytimes.com.pk/873939/pm-...om-prof-cheng/

  77. #1757
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    Quote Originally Posted by RajBan View Post
    A very positive review from international economic scholars on the performance of PTI and IK.

    https://dailytimes.com.pk/873939/pm-...om-prof-cheng/
    Yea but PTI hasn't developed modern industries in last 3 years of getting elected after 30+ years of incompetent and corrupt government ruling Pakistan ;)

  78. #1758
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    Quote Originally Posted by Napa View Post
    I did visit the Dawn website but have no difficulty walking, none at all.
    I suggest that you do. The Hindutuva are there in numbers. I don't blame them, they hate PK, but Dawn is a disgrace.

  79. #1759
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    Exports to China registered 68% increase in calender year 2021.




    Selected Niazi isteefa do

  80. #1760
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    Imran Khan is so desperate they are raising 1 Billion Dollars through Islamic Bond at record 7.95 % Interest rate. Previous regimes has rates of 5.95 and 6.75 respectively. Yet we are led to believe that record exports are happening and economy is booming.
    A lie has no legs, no matter how many times you try to repeat it.


    As general said, this does happen so people have to play the game : Siddique Salik

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