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    Pakistan's debt worth $27b to mature in two years: IMF

    ISLAMABAD: The International Monetary Fund (IMF) has said that $27 billion worth of Pakistan’s external debt will mature in two years – the mounting repayment burden that carries serious implications for bailout package talks started on Monday.

    The technical teams of the IMF and Pakistan have locked into negotiations for 10 days amid authorities hoping to clinch a deal on May 10.

    The $27 billion maturing external debt is equal to 27% of Pakistan’s total external debt and liabilities as of end February, highlighting the gravity of challenges that the government of Prime Minister Imran Khan faces.

    After including financing requirements of the current account deficit, Pakistan will need $46 billion to $50 billion in next two years to remain afloat, according to assessments of the government and some private sector experts.

    The $27 billion external debt repayment figure has been disclosed by the IMF in a new Regional Outlook Report Update on the Middle East, North Africa, Afghanistan that it officially made public on Monday.

    “Many countries have large foreign currency debt – some $27 billion – set to mature in the next two years, leaving them more exposed to slower growth prospects and financial market volatility,” said the IMF. In a separate chart in the report, the $27 billion figure has been shown against Pakistan – the highest repayment by any country in the region.

    Overall, Pakistan’s debt-to-GDP ratio is expected to remain high, at 77% of Gross Domestic Product by June this year, according to another IMF report. The IMF’s Public Debt Sustainability Analysis in Market Access Countries considers emerging market countries to be at higher risk of debt distress where public debt exceeds 70% of GDP. Pakistan has already crossed this dangerous threshold at the end of the PML-N government when debt-to-GDP ratio soared to 72.5%.

    The IMF has released the report on the day Pakistan and the IMF began talks for a possible bailout package. Earlier, in November last year both the sides had failed to reach staff level agreement due to serious difference on every important issue.

    But this time, the authorities expect that the remaining differences would be bridged and both the countries would conclude a deal for a $6.5 billion Extended Fund Facility, spanning over three years.

    Prime Minister Imran Khan on Friday met with IMF Managing Director Christine Lagarde on the sidelines of the Belt and Road Forum at Beijing. It was the second meeting between the two, aimed at breaking an impasse in talks.

    “The two leaders agreed on the importance of the Fund programme and to work towards an agreement,” stated an official handout the PM’s Office issued after the meeting.

    Former finance minister Asad Umar had said that Pakistan would announce a flexible exchange rate regime where the value of rupee will be determined by the market instead of the State Bank of Pakistan. The flexible exchange rate will have to be announced before implementation of the programme.

    The country has already devalued its currency by 35% in the past 15 months.

    The $27 billion external debt payments projections by the IMF are likely to result into a tough IMF programme negotiations. The IMF is likely to ask Pakistan for sharing with it a complete picture of gross external financing needs in the next two years.

    The higher debt requirements for repayment of maturing loans and financing the current account deficit could lead to stringent conditions by the IMF, said the sources. They added that the IMF could ask steep cut in current account deficit to contain the gross financing needs. This, in turn, would necessitate tight monetary and fiscal policies.

    It is estimated that Pakistan will need minimum $20 billion only for current account deficit financing in the next two years.

    It will be challenging for the IMF to oversee a programme where Pakistan’s external financing needs in two years will be close to $50 billion and its gross official foreign currency reserves are at the same time protected at a level sufficient to finance three months of imports.

    Pakistan’s gross financing needs in the next two years could hit a minimum $50 billion and it will have to get short-term debt rolled over besides securing new loans to meet external obligations, according to Shahid Kardar, former governor of the central bank.

    In his assessment, the government would have to contract nearly $35 billion in the next over two years to meet the financing needs. The amount that will have to be rolled over or rescheduled into long-term loans will be over $15 billion in just two years.

    The IMF’s new regional outlook update also noted that geopolitical risks are high in the region, in which Pakistan is also a part. “The impact and timing of major geopolitical developments-including tensions between India and Pakistan, are not yet clear,” according to the report.

    The report underlined that weaker growth in Pakistan is pulling down the regional aggregate growth rate this year, with large macroeconomic imbalances and ongoing policy adjustment challenges expected to slow Pakistan’s growth from 5.2% in 2018 to 2.9% in 2019.

    “Regional inflation is projected to pick up slightly to 11.3% in 2019, primarily due to higher inflation in Egypt (fuel subsidy reform) and Pakistan (weaker exchange rate),” according to the IMF.

    A double-digit inflation means the key discount rate will also remain in double digits.


    Source: https://tribune.com.pk/story/1962274...two-years-imf/


    Raise your words, not voice. It's rain that grows flowers, not thunder... (Rumi)

  2. #2
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    A mess created by PMLN/PPP Govts but PTI will have face the music when they come up with a bitter plan to handle this tight situation because there is no simple and easy way out of this mess...


    Raise your words, not voice. It's rain that grows flowers, not thunder... (Rumi)

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    Quote Originally Posted by waleed88 View Post
    Please provide source of these claims of 27$ billion in 2 years and not a made up number like 30,000 crore ki chori and 200$ billion of looted wealth. I provided you the source of all my statistics.

    I await your response.
    Here you go...

    @Bewal Express


    Raise your words, not voice. It's rain that grows flowers, not thunder... (Rumi)

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    Quote Originally Posted by WebGuru View Post
    Here you go...

    @Bewal Express
    Now from Rs24,592 billion the debt has increased in first 9 months during the PTI regime by Rs4000 billion which will further increased to Rs5000 billion by June 30, 2019. This means that PTI government will jack up the debt of the country to Rs30,000 billion from Rs25000 billion.

  5. #5
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    Quote Originally Posted by WebGuru View Post
    Here you go...

    @Bewal Express
    https://www.thenews.com.pk/print/470...ti-govt-miftah

    An article by the former Finance Minister on the situation PTI is putting the country in.

    PTI is not only unable to reduce the previous debt, it is adding new debt to the total previous debt

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    Quote Originally Posted by WebGuru View Post
    Here you go...

    @Bewal Express
    He aint coming on here. See how he ran from simple questions.

  7. #7
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    Quote Originally Posted by waleed88 View Post
    Now from Rs24,592 billion the debt has increased in first 9 months during the PTI regime by Rs4000 billion which will further increased to Rs5000 billion by June 30, 2019. This means that PTI government will jack up the debt of the country to Rs30,000 billion from Rs25000 billion.
    To a question, he replied saying that the PTI government has accepted in the Senate that at the end of PML-N government the public debt was at Rs24,592 billion. More importantly the country GDP has shrunk from $313 billion to $280 billion and this has happened in Pakistan history for the first time. Dr Miftah says that this financial year will end up with deficit of 7.2 percent of GDP (Rs2700 billion) at the minimum whereas Dr Hafeez Pasha says that fiscal deficit will hover between 7.5- 7.6 percent.

    To resolve the issue of current account deficit which was at $19 billion at the end of PML-N government, the PTI government has borrowed mammoth loan of Rs4000 billion, but the current account deficit issue is still there which still stays at $15 billion.

    Dr Miftah in his tweets also mentioned saying that that 7.2 percent of DGP deficit is higher than any deficit ever run by PML-N. ‘In fact 7.2 percent is one of the highest deficit in Pakistan’s history. However, he mentioned that PPP government had ended with fiscal deficit of over 8 percent when the then finance minister was Dr Hafeez Shaikh who is now currently playing pivotal role in managing the Pakistan’s economy in PTI rule.

    Dr Miftah says that inflation would stay in double digit while the unemployment is on the rise and poverty is increasing day by day. ‘It is likely that malnutrition and stunting of children is also increasing. He says that PTI can make any false accusation against PML-N but the fact is PTI has made lives of Pakistanis worse off. ‘Incompetence of PTI has been very costly.’

  8. #8
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    Quote Originally Posted by waleed88 View Post
    Now from Rs24,592 billion the debt has increased in first 9 months during the PTI regime by Rs4000 billion which will further increased to Rs5000 billion by June 30, 2019. This means that PTI government will jack up the debt of the country to Rs30,000 billion from Rs25000 billion.
    To pay for your debts. The PTI has not spent big or stolen anything. It's all your thefts that we need to pay for.

  9. #9
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    Quote Originally Posted by waleed88 View Post
    Now from Rs24,592 billion the debt has increased in first 9 months during the PTI regime by Rs4000 billion which will further increased to Rs5000 billion by June 30, 2019. This means that PTI government will jack up the debt of the country to Rs30,000 billion from Rs25000 billion.
    And you think IMF and other's who gave us money during PPP and PMLN govt are not going to ask for return and they are gonna forget about it? And which plan PMLN and PPP had to return all these loans? I would like to hear some of them...

    Those parties never thought about the future of country all they cared about was their corruption and next election with short term gimmicks...


    Raise your words, not voice. It's rain that grows flowers, not thunder... (Rumi)

  10. #10
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    Quote Originally Posted by waleed88 View Post
    https://www.thenews.com.pk/print/470...ti-govt-miftah

    An article by the former Finance Minister on the situation PTI is putting the country in.

    PTI is not only unable to reduce the previous debt, it is adding new debt to the total previous debt
    Yeh Khala ji ka ghar nae he jinse pehle loan diay hen wo interest maaf kerden or loans bhul jaayen you need to pay them back with interest no matter which govt got those loan it's the sitting govt which need to pay them back.


    Raise your words, not voice. It's rain that grows flowers, not thunder... (Rumi)

  11. #11
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    Quote Originally Posted by Bewal Express View Post
    He aint coming on here. See how he ran from simple questions.
    It seems I am arguing with teenagers.

    Here is my last post.

    Please educate yourself first

    In terms of size of the national economy, the investment ratio stood at 15.4% in the current fiscal year, which was even lower than last fiscal year’s level and also the lowest level in three years. The Pakistan Tehreek-e-Insaf (PTI) government missed the investment-to-Gross Domestic Product annual target of 17.2%.

    Both the public and private investment went down in the first year of the PTI government, suggesting that private investors were not showing their trust in the government.

    The savings-to-GDP ratio target was also missed that remained at 11.1% of GDP. But the silver lining was that the savings were slightly better than the previous fiscal year due to relatively low current account deficit projected for the current fiscal year. The gap between total investments and savings is financed through foreign savings. The results are based on the working of the National Accounts Committee (NAC) that approved the provisional economic growth rate of 3.3% for the fiscal year 2018-19, ending on June 30. The PTI government has now missed the annual targets of economic growth, national savings, and investment.

    Failure to achieve these crucial targets has limited the government’s ability to spend on deteriorating infrastructure and social sectors from its own resources. This has inevitably increased the government’s reliance on external and domestic sources to meet its requirements, resulting in mushroom growth in public debt in the past five years. The provisional estimates suggest that the per capita income shrank by 8.2% to $1,516. It was lower by $136 when compared with the revised per capita income estimates of $1,652 for the last fiscal year.

    The per capita income is worked out by dividing the total national income with the number of people. Last time, in the fiscal year 2015-16, the per capita income had been recorded at $1,529.



    The total size of the national economy is now estimated at $291 billion for this fiscal year – down from $315 billion a year ago. The size of the national economy in US dollar terms has also shrunk by nearly 8%. In rupee terms, the per capita income stood at Rs200,693 – up by 14%. The investment-to-GDP ratio stood at just 15.4% against a target of 17.2%, said the sources. The ratio was worse than last year’s revised rate of 16.7%, they added. The government’s inability to increase investment as a percentage of the total size of the national economy remains its biggest failure on the economic front, suggesting that the PTI government has not yet begun its journey towards addressing structural imbalances.

    The private investment that had been recorded at 10.3% of GDP in the last year has also slipped to 9.8%, according to the Pakistan Bureau of Statistics (PBS) working. The government had a target to increase private investment to 10.8%. The public investment also shrank to 4% of GDP – down from 4.8%, due to steep cut in development spending by the federal and provincial governments. Fixed investment remained at only 13.8% of GDP in the fiscal year 2018-19 against the target of 15.6%. It was down by 2% from last year’s level.

    Savings increased to 11.1% of GDP – far below the target of 13.1%. In the last fiscal year, savings were recorded at 10.4% of GDP.

    Due to low savings and investment ratios, Pakistan’s current account deficit is now projected to widen to 4.3% of GDP – better than last year’s level of 6.3%. These figures of investment and savings would be officially published in the Economic Survey of Pakistan 2018-19, likely to be unveiled on June 10.

    Pakistan has one of the lowest investment and saving rates in the region and the world, obstructing progress towards a sustainable inclusive economic growth path.

    https://tribune.com.pk/story/1970984...is-first-year/

  12. #12
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    Quote Originally Posted by WebGuru View Post
    Yeh Khala ji ka ghar nae he jinse pehle loan diay hen wo interest maaf kerden or loans bhul jaayen you need to pay them back with interest no matter which govt got those loan it's the sitting govt which need to pay them back.
    Yes your PM is on a mission with a begging bowl because of his and his finance teams incompetence. This will be the result.

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    Quote Originally Posted by WebGuru View Post
    And you think IMF and other's who gave us money during PPP and PMLN govt are not going to ask for return and they are gonna forget about it? And which plan PMLN and PPP had to return all these loans? I would like to hear some of them...

    Those parties never thought about the future of country all they cared about was their corruption and next election with short term gimmicks...
    Well IMF is basically meeting up with the same finance team that PPP had, Hafeez Sheikh is known to be an IMF guy. How exactly can you hold the guy responsible for the economy to be in the situation beforehand when the who was the minister was the same guy working now. You are basically blaming your own guy.

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    Quote Originally Posted by waleed88 View Post
    Yes your PM is on a mission with a begging bowl because of his and his finance teams incompetence. This will be the result.
    I wish you had the courage to ask these questions to Panama Shareef when he was taking loans from everywhere be it CPEC, Saudis, IMF...


    Raise your words, not voice. It's rain that grows flowers, not thunder... (Rumi)

  15. #15
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    Quote Originally Posted by waleed88 View Post
    Well IMF is basically meeting up with the same finance team that PPP had, Hafeez Sheikh is known to be an IMF guy. How exactly can you hold the guy responsible for the economy to be in the situation beforehand when the who was the minister was the same guy working now. You are basically blaming your own guy.
    How come same Hafeez Sheikh performed really well under Musharraf when he was minister of Privatization and failed badly under Zardari ask this question to yourself you will get the answer. (Zardari govt changed like 3/4 finance ministers)


    Raise your words, not voice. It's rain that grows flowers, not thunder... (Rumi)

  16. #16
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    Quote Originally Posted by waleed88 View Post
    It seems I am arguing with teenagers.

    Here is my last post.

    Please educate yourself first

    In terms of size of the national economy, the investment ratio stood at 15.4% in the current fiscal year, which was even lower than last fiscal year’s level and also the lowest level in three years. The Pakistan Tehreek-e-Insaf (PTI) government missed the investment-to-Gross Domestic Product annual target of 17.2%.

    Both the public and private investment went down in the first year of the PTI government, suggesting that private investors were not showing their trust in the government.

    The savings-to-GDP ratio target was also missed that remained at 11.1% of GDP. But the silver lining was that the savings were slightly better than the previous fiscal year due to relatively low current account deficit projected for the current fiscal year. The gap between total investments and savings is financed through foreign savings. The results are based on the working of the National Accounts Committee (NAC) that approved the provisional economic growth rate of 3.3% for the fiscal year 2018-19, ending on June 30. The PTI government has now missed the annual targets of economic growth, national savings, and investment.

    Failure to achieve these crucial targets has limited the government’s ability to spend on deteriorating infrastructure and social sectors from its own resources. This has inevitably increased the government’s reliance on external and domestic sources to meet its requirements, resulting in mushroom growth in public debt in the past five years. The provisional estimates suggest that the per capita income shrank by 8.2% to $1,516. It was lower by $136 when compared with the revised per capita income estimates of $1,652 for the last fiscal year.

    The per capita income is worked out by dividing the total national income with the number of people. Last time, in the fiscal year 2015-16, the per capita income had been recorded at $1,529.



    The total size of the national economy is now estimated at $291 billion for this fiscal year – down from $315 billion a year ago. The size of the national economy in US dollar terms has also shrunk by nearly 8%. In rupee terms, the per capita income stood at Rs200,693 – up by 14%. The investment-to-GDP ratio stood at just 15.4% against a target of 17.2%, said the sources. The ratio was worse than last year’s revised rate of 16.7%, they added. The government’s inability to increase investment as a percentage of the total size of the national economy remains its biggest failure on the economic front, suggesting that the PTI government has not yet begun its journey towards addressing structural imbalances.

    The private investment that had been recorded at 10.3% of GDP in the last year has also slipped to 9.8%, according to the Pakistan Bureau of Statistics (PBS) working. The government had a target to increase private investment to 10.8%. The public investment also shrank to 4% of GDP – down from 4.8%, due to steep cut in development spending by the federal and provincial governments. Fixed investment remained at only 13.8% of GDP in the fiscal year 2018-19 against the target of 15.6%. It was down by 2% from last year’s level.

    Savings increased to 11.1% of GDP – far below the target of 13.1%. In the last fiscal year, savings were recorded at 10.4% of GDP.

    Due to low savings and investment ratios, Pakistan’s current account deficit is now projected to widen to 4.3% of GDP – better than last year’s level of 6.3%. These figures of investment and savings would be officially published in the Economic Survey of Pakistan 2018-19, likely to be unveiled on June 10.

    Pakistan has one of the lowest investment and saving rates in the region and the world, obstructing progress towards a sustainable inclusive economic growth path.

    https://tribune.com.pk/story/1970984...is-first-year/
    So educate us teenagers on Why exports were 30bn less than imports, what impact that had on the rupee, how was you going to pay for such a gap? why the debt was trebled in the last 10 years? Where did the money go? What impact the low oil price had the BOP and why the economy was still running a massive current account deficit with such low oil prices. And the best of all how did the Nooras intend to repay the $27bn in the next 2 years. Now that the Noora media cell can’t give you figures, and you have to show us what you know,lets see you respond.

  17. #17
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    Quote Originally Posted by waleed88 View Post
    Yes your PM is on a mission with a begging bowl because of his and his finance teams incompetence. This will be the result.
    Oh dear petty insults from the supporter of a crook who left a 95bn debt and Bop crisis! Tell us how the Machar is in prison? Is the heart any better because faking illness increases the blood pressure.

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    Quote Originally Posted by waleed88 View Post
    Well IMF is basically meeting up with the same finance team that PPP had, Hafeez Sheikh is known to be an IMF guy. How exactly can you hold the guy responsible for the economy to be in the situation beforehand when the who was the minister was the same guy working now. You are basically blaming your own guy.
    This is the truth and what I was about to come into this thread to post. PTI cabinet contains a lot of tried and tested failures but still we think Naya Pakistan is here.

  19. #19
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    Quote Originally Posted by Loralai View Post
    This is the truth and what I was about to come into this thread to post. PTI cabinet contains a lot of tried and tested failures but still we think Naya Pakistan is here.
    Yes says a loser who couldn't even condemn the murder of innocent people.

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    Gotta agree with PTI fans here.

    If your predecessor messes up the economy so bad, what options do you have?

    Yes this can't be used as an excuse to hide every failure of PTI but still they have a huge task in hand.

    What's your take @Mamoon

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    Quote Originally Posted by sensible-indian-fan View Post
    Gotta agree with PTI fans here.

    If your predecessor messes up the economy so bad, what options do you have?

    Yes this can't be used as an excuse to hide every failure of PTI but still they have a huge task in hand.

    What's your take @Mamoon
    PTI has no leg to stand on because of two major reasons:

    (1) they harp about PPP and PMLN messing the economy, but their genius solution is to appoint a PPP finance minister as financial advisor?

    What “advise” does Imran seek from a man who contributed to our economic ruin?

    (2) for almost a decade, he hyped Asad Umar as the man who will drive our economy forward, but then he proceeded to sack him within 8 months.

    Meanwhile, PTI supporters in the last 8 months were adamant that Asad Umar is doing a stellar job and he will need time to fix things, but looks like Imran didn’t agree with them.

    PTI is a circus and Imran is the circus leader. They have no idea what they are doing and are making things up as they go along.

    PTI is more of a cult than a party, and their supporters, aka the cult members will defend anything.

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    Quote Originally Posted by Mamoon View Post
    PTI has no leg to stand on because of two major reasons:

    (1) they harp about PPP and PMLN messing the economy, but their genius solution is to appoint a PPP finance minister as financial advisor?

    What “advise” does Imran seek from a man who contributed to our economic ruin?

    (2) for almost a decade, he hyped Asad Umar as the man who will drive our economy forward, but then he proceeded to sack him within 8 months.

    Meanwhile, PTI supporters in the last 8 months were adamant that Asad Umar is doing a stellar job and he will need time to fix things, but looks like Imran didn’t agree with them.

    PTI is a circus and Imran is the circus leader. They have no idea what they are doing and are making things up as they go along.

    PTI is more of a cult than a party, and their supporters, aka the cult members will defend anything.
    Trust me the majority of PTI supporters are also frustrated.

    See we want the best for Pakistan and based on what we have seen in PMLN and PPP, they are certainly not the answer. The debts have soared massively under them hence the mess.

    I would give PTI 2 more years before giving any judgement. Lets give them time. They will learn, they will have to learn. This is the last democratic government in Pakistan i believe.
    Last edited by gazza619; 15th May 2019 at 02:45.

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    Quote Originally Posted by Mamoon View Post
    PTI has no leg to stand on because of two major reasons:

    (1) they harp about PPP and PMLN messing the economy, but their genius solution is to appoint a PPP finance minister as financial advisor?

    What “advise” does Imran seek from a man who contributed to our economic ruin?

    (2) for almost a decade, he hyped Asad Umar as the man who will drive our economy forward, but then he proceeded to sack him within 8 months.

    Meanwhile, PTI supporters in the last 8 months were adamant that Asad Umar is doing a stellar job and he will need time to fix things, but looks like Imran didn’t agree with them.

    PTI is a circus and Imran is the circus leader. They have no idea what they are doing and are making things up as they go along.

    PTI is more of a cult than a party, and their supporters, aka the cult members will defend anything.
    I think you need to ease up the criticism on a party that has come to govt for the first time. To be very honest followers of the PPP and PML-N are even bigger cult members where they will defend the leaders for blatant corruption and for taking the foreign debts of Pakistan to $100 billion.

    So Imran Khan is not allowed to reverse a bad appointment?

    As far as i can see, i don't suspect anything wrong about IK's intentions, i think he received a huge reality check about the difference between the idealistic narrative he kept spinning in the last 22 years and how things are in reality which is why he is having to backtrack on many things now.

    Criticism over the complete lack of preperation for office is completely justified.

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    Quote Originally Posted by Mamoon View Post
    PTI has no leg to stand on because of two major reasons:

    (1) they harp about PPP and PMLN messing the economy, but their genius solution is to appoint a PPP finance minister as financial advisor?

    What “advise” does Imran seek from a man who contributed to our economic ruin?

    (2) for almost a decade, he hyped Asad Umar as the man who will drive our economy forward, but then he proceeded to sack him within 8 months.

    Meanwhile, PTI supporters in the last 8 months were adamant that Asad Umar is doing a stellar job and he will need time to fix things, but looks like Imran didn’t agree with them.

    PTI is a circus and Imran is the circus leader. They have no idea what they are doing and are making things up as they go along.

    PTI is more of a cult than a party, and their supporters, aka the cult members will defend anything.
    Interesting.

    PTI being new, doesn't seem that competent handling all this. At the same time, they were handed a brutal mess when they came to power.

    But not sure how appointing PPP finance minister is defendable.

    Maybe that's why there is no response to your post which was made almost a week back.

    Time will tell whether they will eventually figure it out after stumbling around or whether they will worsen the situation.


    I am not one of you. I never was. I am not one of them either.

  25. #25
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    Quote Originally Posted by sensible-indian-fan View Post
    Interesting.

    PTI being new, doesn't seem that competent handling all this. At the same time, they were handed a brutal mess when they came to power.

    But not sure how appointing PPP finance minister is defendable.

    Maybe that's why there is no response to your post which was made almost a week back.

    Time will tell whether they will eventually figure it out after stumbling around or whether they will worsen the situation.
    Lol the reason people don't respond to him is because he doesn't ask these questions of the PPP or PML-N when they are in power, he then changes the narrative to "Vote ko izzat do", "Jamhooriyat ko chalne do", "System ko chalne do"

    The PPP changed their finance minister 4 times. The PTI has appointed experienced ministers and technocrats from the beginning, for the Finance Minister role they chose to appoint a member of their party but when they saw that he was not up to the task they have decided to adapt and have appointed an experienced finance minister who has IMF connections. One of the reasons given for AU dismissal was that the IMF was unhappy with him, felt he came unprepared to meetings and looked out of his depth in their dealings with them and apparently in Washington some officials declined to meet him.

    Now Pakistan needs the IMF program, does Asad Umar come first or Pakistan?

  26. #26
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    I don't know why IK is not going hard at recovering the looted money from Nawaz and Zardari. If he can do that the financial situation in Pak will greatly improve. I still feel there is much oil and gas in Pak as well.


    PP's own self proclaimed sharpshooter and defender of Islam and Pakistan.

  27. #27
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    Quote Originally Posted by PakLFC View Post
    I don't know why IK is not going hard at recovering the looted money from Nawaz and Zardari. If he can do that the financial situation in Pak will greatly improve. I still feel there is much oil and gas in Pak as well.
    Under the global neo-liberal model of the global economy, cracking down on corruption puts the countries down on the ease of doing business ranking.

  28. #28
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    Quote Originally Posted by Angrez Pakistani View Post
    Under the global neo-liberal model of the global economy, cracking down on corruption puts the countries down on the ease of doing business ranking.
    And he is not dictator so Saudi/Chinese model not gonna work either


    Raise your words, not voice. It's rain that grows flowers, not thunder... (Rumi)

  29. #29
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    Should be billed to NS and AZ

  30. #30
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    Quote Originally Posted by PakLFC View Post
    I don't know why IK is not going hard at recovering the looted money from Nawaz and Zardari. If he can do that the financial situation in Pak will greatly improve. I still feel there is much oil and gas in Pak as well.
    Its easy to talk about doing it, not that easy or simple to actually do it. I suspect it probably takes a lot of time, effort, money and it results in an opportunity cost

  31. #31
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    Quote Originally Posted by Savak View Post
    Its easy to talk about doing it, not that easy or simple to actually do it. I suspect it probably takes a lot of time, effort, money and it results in an opportunity cost
    Then he should not have said it in his pre elections speeches. It was as difficult then to recover all the looted wealth as it is today. Making false promises is what Zardari and Nawaz used to do.


    PP's own self proclaimed sharpshooter and defender of Islam and Pakistan.

  32. #32
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    Quote Originally Posted by Savak View Post
    Lol the reason people don't respond to him is because he doesn't ask these questions of the PPP or PML-N when they are in power, he then changes the narrative to "Vote ko izzat do", "Jamhooriyat ko chalne do", "System ko chalne do"

    The PPP changed their finance minister 4 times. The PTI has appointed experienced ministers and technocrats from the beginning, for the Finance Minister role they chose to appoint a member of their party but when they saw that he was not up to the task they have decided to adapt and have appointed an experienced finance minister who has IMF connections. One of the reasons given for AU dismissal was that the IMF was unhappy with him, felt he came unprepared to meetings and looked out of his depth in their dealings with them and apparently in Washington some officials declined to meet him.

    Now Pakistan needs the IMF program, does Asad Umar come first or Pakistan?
    Who is defending Asad Umar?

    It's just that when you hype up a guy for a long time and he fails...there will be criticism reg your ability to judge talent.

    I don't see people criticizing the decision to sack him. Just the decision to appoint a former PPP finance minister. Now I don't know how this guy performed in his tenure but that's a valid question by Mamoon.

    ---

    As for asking PMLN and PPP.....I believe most Pakistanis accept they were poor. That doesn't mean PTI is above criticism.

    If we go by that logic, Indians shouldn't criticize BJP govt from 2014 to 2018 considering how bad Congress was from 2009 to 2014.

    It doesn't work that way.


    I am not one of you. I never was. I am not one of them either.

  33. #33
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    Pakistan can never get out of this debt crisis, because the whole conversation is skewed towards towards tackling endogenous factors (such as corruption and governments' incompetence) while very little attention is paid towards exogenous issues.

  34. #34
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    Who is the bigger culprit for this mess? NS or Zardari?

  35. #35
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    Quote Originally Posted by Hitman View Post
    Who is the bigger culprit for this mess? NS or Zardari?
    NS because at leat Zardari govt had to face high oil prices and a global crisis.

  36. #36
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    Quote Originally Posted by sensible-indian-fan View Post
    Who is defending Asad Umar?

    It's just that when you hype up a guy for a long time and he fails...there will be criticism reg your ability to judge talent.

    I don't see people criticizing the decision to sack him. Just the decision to appoint a former PPP finance minister. Now I don't know how this guy performed in his tenure but that's a valid question by Mamoon.

    ---

    As for asking PMLN and PPP.....I believe most Pakistanis accept they were poor. That doesn't mean PTI is above criticism.

    If we go by that logic, Indians shouldn't criticize BJP govt from 2014 to 2018 considering how bad Congress was from 2009 to 2014.

    It doesn't work that way.
    Again i repeat that these criticisms apply to other parties as well. The objection and frustration lies in the selective pinpointing of PTI by Mamoon for these things but completely turning a blind eye when the likes of PPP and PML-N have done it for 20 years. This is the problem with the media as well and this is why these parties feel they own the country and that they can do whatever they want with it without question.


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