ترسیلات زرکا 500 ملین ڈالر کا ہدف حاصل کرلیا ہے:وزیر اعظم کا تقریب سے خطاب

Digital_Pakistani

Minister (2k+ posts)
Prime Minister (PM) Imran Khan has said that the Pakistan Tehreek-e-Insaf (PTI) government has paid back a record $20 billion debt in two and half years.

Addressing a ceremony in connection with Roshan Digital Account crossing five hundred million dollars mark in remittances in Islamabad, PM Imran Khan said the country is overburdened due to record debts taken by the previous governments.

The prime minister expressed his pleasure over the record increase in the country’s exports at a time when the economies around the world were badly affected by the breakout of the pandemic.

He said our exports have been more than our competitors including India and Bangladesh and added our textile sector is witnessing a boom and new textile mills are being opened.

Terming overseas Pakistanis, the country’s biggest asset, he thanked them for bestowing their trust in the Roshan Digital accounts.

The premier said as many as 88,000 thousand overseas Pakistanis hailing from 97 countries of the world opened Roshan Digitial Pakistan accounts.

“Many Pakistani expats are still unaware about the program,” said the PM Khan and urged upon the need for the campaign on the electronic media to aware them of Roshan Digital Accounts.

The common people are overburdened due to the devaluation of the currency. We are taking the economy in the right direction. The past governments only given relief to the elites, he observed.

Roshan Digital Accounts

According to the SBP statement, the simplification of the taxation regime will give a further boost to the Roshan Digital Account scheme,
which has already attracted considerable inflows from NRPs in the five months since it was launched.

The RDA (Roshan Digital Account) is a flagship initiative of State Bank aimed at connecting overseas Pakistanis with Pakistan’s banking and payment system. Looking ahead, the SBP will continue its efforts towards making the policy, regulatory, business and taxation environment around RDA investor-friendly

Source
 

Resiliant

MPA (400+ posts)
If they have paid all this debt why it is increasing?? They have just rolled-over most of the debt.
 
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Res1Pect

Minister (2k+ posts)
اورسیز پاکستانیوں کے پیسے کو سلام کرنے کے علاوہ اگر کوئی اقدام ان کی بہتری کے لیے کئے ہوں تو وہ بھی بتا دیں ذرا ....؟؟؟؟
ڈی ایچ ایے ویلی فراڈ پر منہ کھولنے کی توفیق نہیں وزیر اعظم صاحب کو .... ایک کار ڈیوٹی فری لانے کی اجازت دیتے ہوے تکلیف ہوتی ہے صاحب کو .... کوئی ایک سہولت جو عطا فرمائی ہو جناب نے ، ذرا کوئی بھائی بتا دے ؟؟؟
 

miafridi

Prime Minister (20k+ posts)
Well done Imran khan. Talking from the heart and having a vision of his own for Pakistan.
 

miafridi

Prime Minister (20k+ posts)
If they have paid all this debt why it is increasing?? They have just rolled-over most of the debt.

Forget about debt Pakistan was heading towards a default with only $8 billion in reserves but $20 billion Annual current account deficit. $20 billion CAD meant that Pakistan required this much amount annually only to keep things rolling let alone the fact that they still had to pay any previous debt reaching it's maturity. So in short the debt had to increase due to the record annual current account deficit regardless of you paying back any previous loan. PTI did great in reducing the rate of increase in loans over the last couple of years.
 

Resiliant

MPA (400+ posts)
Forget about debt Pakistan was heading towards a default with only $8 billion in reserves but $20 billion Annual current account deficit. $20 billion CAD meant that Pakistan required this much amount annually only to keep things rolling let alone the fact that they still had to pay any previous debt reaching it's maturity. So in short the debt had to increase due to the record annual current account deficit regardless of you paying back any previous loan. PTI did great in reducing the rate of increase in loans over the last couple of years.

According to last the IMF Staff Report shows that the net international foreign currency reserves held by the SBP stood at negative $17.74 billion by end June 2019 and it would further go up negative to $18.478 billion by end September 2019.

While in June 2018 net international foreign currency reserves held by the SBP stood at negative $0.7 billion.
 

miafridi

Prime Minister (20k+ posts)
According to last the IMF Staff Report shows that the net international foreign currency reserves held by the SBP stood at negative $17.74 billion by end June 2019 and it would further go up negative to $18.478 billion by end September 2019.

While in June 2018 net international foreign currency reserves held by the SBP stood at negative $0.7 billion.

I think you still didn't get what a $20 billion annual current account deficit meant for Pakistan while having less than $8 billion in reserves. The negative effect of this huge deficit started showing in early 2018(which is why the dollar started to depreciated when PML-N was still in power) and Every independent/biased analyst said even before Elections 2018 that any new government would have to take $12 to $14 billion rupees loan immediately to avert a default. This is why Imran khan went to KSA, UAE, Qatar, China, and IMF who all contributed to that loan and as a result our reserves got negative by a huge $17 billion until June 2019 when PTI had hardly assumed power.

Otherwise don't you wonder Why did the foreign reserves go to around negative $17 billion in just one year? But then increased only about $0.75 billion in the next quarter? This meant that all the required loan was taken in the first year of PTI(which can't be blamed on PTI but was do to this huge mismanagement of PML-N while they were leaving the government) and then afterwards some corrective measures like curb on exports, expenditure, some raise in taxes to generate more revenues etc were taken to reduce the rate of taking loan. And now although the net foreign reserves are still negative but the rate of taking loans is much much lower than where PML-N left it to be.
 
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