Finance Minister Mandviwala optimistic. Says "We're doomed"

[AsifAmeer]

http://tribune.com.pk/story/518356/...ance-only-three-months-of-imports-mandviwala/

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Finance Minister Salim Mandviwala has said that Pakistans current foreign exchange reserves are only enough to finance three months worth of imports, Roznama Express reported.

The federal minister further remarked that Pakistan might have to ask the International Monetary Fund (IMF) for a fresh loan in duo course.

The ministers assessment came days after the Pakistan director of the Asian Development Bank, Warner Leipach told Reuters in an interview that the country urgently required US$9billion in IMF lent funding in order to avoid a balance of payment crisis.

Addressing a media briefing in Islamabad, Mandviwala remarked that he had opposed a cabinet proposal of laying down a new network of agricultural tube wells as this would result in the government spending an extra Rs15billion in agricultural subsidies.

He further added that as the floating of the licenses and contracts for importing Liquefied Natural Gas (LNG) was a multi-billion dollar process, he had divested his authority in the federal cabinet to make a decision in this regard.

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COMMENTS: This is the very dude who claimed just a few days ago that talks of Pakistan defaulting is fear-mongering. I think he just had a few pints of Bourbon. Hey... whatever gives u the marbles to speak the truth.. I am completely ok with that!

 

[cefspan]

Re: Finance Minister Mandviwala optimistic. Says "We're fcvked"

hoNESTLY Asid Bhai You Really Think That Guy Gives A Crap What Happens To Pakistan? Not That Guy The Political Regime As A Whole

 

[rtabasum2]

Re: Finance Minister Mandviwala optimistic. Says "We're fcvked"

Are u still sticking to ur guns that if PTI sits out of this coming Govt will be better for them in long run? is the economic situation now at the point of no return do u feel? @AsifAmeer

 

[AshRay]

Re: Finance Minister Mandviwala optimistic. Says "We're fcvked"

are u still sticking to ur guns that if pti sits out of this coming govt will be better for them in long run? Is the economic situation now at the point of no return do u feel? @asifameer

zara nam ho to ye matti bari zarghez hey saqi..... Insha'allah

 

[sarbakaf]

Re: Finance Minister Mandviwala optimistic. Says "We're fcvked"

he is damn finance minister not information minister
we know our economy is bad....we do not want news from him

he is supposed to make it better, if he can not do it then he should resign

 

[bisha]

Re: Finance Minister Mandviwala optimistic. Says "We're fcvked"

v spent on laptop in these terrible situation.

 

[Omrkhan]

Re: Finance Minister Mandviwala optimistic. Says "We're fcvked"

Well he is the University that issues SROs everyday. off track a bit though. That SRO issued for making smuggled cars legal. INNA Lillah. Rajaon. And than another amendment which empowers Custom walas to check whether chasis numbers are tampered or not. What a joke. I am hurt. With Pak going ahead with IP line. And than US threating with sanctions. And we having lack of forex funds and intention of going IMF. Doesn't make no fcking sense. Maybe SRO party want to create a MESS for new Govt.

 

[AsifAmeer]

Re: Finance Minister Mandviwala optimistic. Says "We're fcvked"

hoNESTLY Asid Bhai You Really Think That Guy Gives A Crap What Happens To Pakistan? Not That Guy The Political Regime As A Whole

U missed the irony in the headline..

Are u still sticking to ur guns that if PTI sits out of this coming Govt will be better for them in long run? is the economic situation now at the point of no return do u feel? @AsifAmeer

Not only should PTI sit out of it, those who can leave the country.. should leave. "Magar Asif Pakistan ka kya ho ga?" Answer is.. kuch bhi nahi. Kuch bhi nahi! Financial repression will continue and actually get worse. Expect more bombings, terrorism, lawlessness, govt failures and so on.

he is damn finance minister not information minister
we know our economy is bad....we do not want news from him

he is supposed to make it better, if he can not do it then he should resign

U watched this movie... Fun with **** & Jane?

Remember how this dude gets a promotion right when the ship is about to go under... Mandviwala is the D!ck in this movie.

Well he is the University that issues SROs everyday. off track a bit though. That SRO issued for making smuggled cars legal. INNA Lillah. Rajaon. And than another amendment which empowers Custom walas to check whether chasis numbers are tampered or not. What a joke. I am hurt. With Pak going ahead with IP line. And than US threating with sanctions. And we having lack of forex funds and intention of going IMF. Doesn't make no fcking sense. [HI]Maybe SRO party want to create a MESS for new Govt[/HI].

Couldnt have said it in a better way...

 

[zeshaan]

Re: Finance Minister Mandviwala optimistic. Says "We're fcvked"

PPP want to make a MESS for new govt and governing parties.
This is the whole story now.

 

[Heart]

Re: Finance Minister Mandviwala optimistic. Says "We're fcvked"

Asif Yaar, You have given up hope for Pakistan. I fear your economics study will result in your giving up hope for this world. Where shall we escape then.

U missed the irony in the headline..



Not only should PTI sit out of it, those who can leave the country.. should leave. "Magar Asif Pakistan ka kya ho ga?" Answer is.. kuch bhi nahi. Kuch bhi nahi! Financial repression will continue and actually get worse. Expect more bombings, terrorism, lawlessness, govt failures and so on.


U watched this movie... Fun with **** & Jane?

Remember how this dude gets a promotion right when the ship is about to go under... Mandviwala is the D!ck in this movie.




Couldnt have said it in a better way...

 

[AsifAmeer]

Re: Finance Minister Mandviwala optimistic. Says "We're fcvked"

Initially I used to think that its all the Monetary system's fault. The more and more history I read, I feel convinced that this twisted Global monetary system is the symptom of the twisted mindset of the crowds. We humans have some serious issues. We shouldnt have survived this long.

Hota kiya hai... we human grow and grow and consume everything like virus and become tyrants over one another than our complex systems break up and head towards the natural equilibrium.. Disaster occurs bringing our population back to a stable state. Whats interesting in the recent times is that the WW1 and WW2 were stabilizing effect which produced immense prosperity for the 70~80 years.

Today we are again at a very unstable state. Sooner or later we again will reach a stable state. Does this make sense to you?

Asif Yaar, You have given up hope for Pakistan. I fear your economics study will result in your giving up hope for this world. Where shall we escape then.

 

[Heart]

Re: Finance Minister Mandviwala optimistic. Says "We're fcvked"

I think we both have reached on the same or similar page. But I have concluded something very similar but from a different study. Or to put it correctly, I did start reading economics as a starting point but then my focus shifted to something else.

Not to disagreeing with you that humans have some serious issue but I think one of the major issue is "Greed for more" - You might have heard, greed makes you blind and this is where Allah says in the Quran that Wealth is a trial for you. It just happens that the choice we as a humans make is for wealth - very rarely against it.

However, as for WWI and WWII - I differ with you that they were stabilizers - they proved just a way to build on that greed. Perhaps a WWIII might be a stabilizer.

Initially I used to think that its all the Monetary system's fault. The more and more history I read, I feel convinced that this twisted Global monetary system is the symptom of the twisted mindset of the crowds. We humans have some serious issues. We shouldnt have survived this long.

Hota kiya hai... we human grow and grow and consume everything like virus and become tyrants over one another than our complex systems break up and head towards the natural equilibrium.. Disaster occurs bringing our population back to a stable state. Whats interesting in the recent times is that the WW1 and WW2 were stabilizing effect which produced immense prosperity for the 70~80 years.

Today we are again at a very unstable state. Sooner or later we again will reach a stable state. Does this make sense to you?

 

[cefspan]

Re: Finance Minister Mandviwala optimistic. Says "We're fcvked"

he is damn finance minister not information minister
we know our economy is bad....we do not want news from him

he is supposed to make it better, if he can not do it then he should resign

anD Since When Our Finance Ministers Started Stepping In And Saving The Day? Kha Pe K Side P Hoga Sala! (bigsmile)

 

[AsifAmeer]

Re: Finance Minister Mandviwala optimistic. Says "We're fcvked"

Till about almost last year.. I would have disagreed with you about 'greed' arguing that Greed has been there since the existence of man. And since its a common factor, it can be discounted. Lekin when I looked further.. turns out that Economics changes the mindset of humans. For eg, interact with someone who was born and raised in the Former Soviet block. And then interact with someone from the Southern part of the US. A huge difference. We all are a product of our economic system. Haan greed has been there for ages lekin the genie was yanked out of the bottle after the industrial revolution.

I'll share my conversation with you with someone. That guys got like 12~15 different businessness, from Stock trading to Commercial real estate to brokering bank portfolios. Guy makes about $100k a month and I am being very conservative. Now I call that a rich guy.. theek? I ask him
Me: "Ever thought of a figure which once you have achieved in your bank account, you will retire?"
Him : "Yaar bachay hain.. Parhai ka kharcha... un ki shadi.. And other liabilities on me.. I dont think its easy to put a $ figure to it. Can you? At what amount do you think you will stop working?"
Me: "$200 million"
Him: "What?! Thats impossible!"
Me: "Really? Ur saying this after copying my trades for the last 2 years? Dude, atleast I was able to put a figure on my retirement. You failed at that very simple task"
Him: "Asif things get complicated as you grow older"
Me : "Things get complicated when one gets richer.."

I think we both have reached on the same or similar page. But I have concluded something very similar but from a different study. Or to put it correctly, I did start reading economics as a starting point but then my focus shifted to something else.

Not to disagreeing with you that humans have some serious issue but I think one of the major issue is "Greed for more" - You might have heard, greed makes you blind and this is where Allah says in the Quran that Wealth is a trial for you. It just happens that the choice we as a humans make is for wealth - very rarely against it.

However, as for WWI and WWII - I differ with you that they were stabilizers - they proved just a way to build on that greed. Perhaps a WWIII might be a stabilizer.

 

[Heart]

Re: Finance Minister Mandviwala optimistic. Says "We're fcvked"

Very right. Money changes the mindset of people. They act irrationally, irresponsibly. That is one reason why gambling is declared as Haraam. When you win, greed takes on. The mind cannot see what it should see. This happens with many market speculators too, in a winning market (can be both short and long), the winner starts increasing his stakes as he gains more money and in the last few trades he increases the stake so much that all of his earning are wiped off. He may even be in debts and commit suicide (I know of a few such cases from my involvement with the Karachi Stock Exchange). Btw, this greed thing is a personal experience with my involvement with KSE :)

You might have seen this picture.

Sure people can argue that the masters of the trade know how to control greed - but only a few are masters - rest of the crowd is just herd mentality. And in the end, these masters get all the money lost by the herd. A disequilibrium in distribution of wealth.

I am of the opinion (though I may not have the complete knowledge to back my arguments since these masters are very well versed in fooling people), the current capitalistic economic system is being run by these few masters and the whole world is following blindly as a herd.

On the side of this discussion and somewhat relevant, some friends however feel that Man has been gifted wisdom and independent thinking and therefore need not be controlled and even without controlling he will behave rationally.

http://www.siasat.pk/forum/showthread.php?165523-ALLAH-SWT-and-his-bounties&p=1364682#post1364682

Till about almost last year.. I would have disagreed with you about 'greed' arguing that Greed has been there since the existence of man. And since its a common factor, it can be discounted. Lekin when I looked further.. turns out that Economics changes the mindset of humans. For eg, interact with someone who was born and raised in the Former Soviet block. And then interact with someone from the Southern part of the US. A huge difference. We all are a product of our economic system. Haan greed has been there for ages lekin the genie was yanked out of the bottle after the industrial revolution.

I'll share my conversation with you with someone. That guys got like 12~15 different businessness, from Stock trading to Commercial real estate to brokering bank portfolios. Guy makes about $100k a month and I am being very conservative. Now I call that a rich guy.. theek? I ask him
Me: "Ever thought of a figure which once you have achieved in your bank account, you will retire?"
Him : "Yaar bachay hain.. Parhai ka kharcha... un ki shadi.. And other liabilities on me.. I dont think its easy to put a $ figure to it. Can you? At what amount do you think you will stop working?"
Me: "$200 million"
Him: "What?! Thats impossible!"
Me: "Really? Ur saying this after copying my trades for the last 2 years? Dude, atleast I was able to put a figure on my retirement. You failed at that very simple task"
Him: "Asif things get complicated as you grow older"Me : "Things get complicated when one gets richer.."

 

[AsifAmeer]

Re: Finance Minister Mandviwala optimistic. Says "We're fcvked"

Ask @Unicorn to look up Rational Irrationality and Prisoner's Dilemma. Sprinkle this phenomenon with Karl Popper's point of view that consciousness dilutes the originality of any information. That picture you shared here shares the same story. There are some severe limitations of rationality. I absolutely believe that. Lekin phir what other alternate do we have... Nassim Taleb says "Correlation" or simply tinkering more... I can live with that argument.

What you and I are discussing here, is not encouraged in Muslim circles. That consider these sort of talks - philosophy. I once attended an ISNA convention where this Sheikh.. Muhammed Mamdouh PhD ... specifically said "Keep your kids away from Philosophy courses"

Keep the minds slave to the culture.. And then teach them what... Political Islam? I think religion in general too is very infected too.. infected of greed.. just like the capitalist system. Only difference is, unlike religious greed, capitalism doesnt pretend to fake greed.

About that comment on WW1 & WW2 as neutralizing agents, I had natural volatility of social systems in mind. If you get a chance, read this amazing amazing article.. but think of this idea in a broader sense.
http://fooledbyrandomness.com/ForeignAffairs.pdf

Very right. Money changes the mindset of people. They act irrationally, irresponsibly. That is one reason why gambling is declared as Haraam. When you win, greed takes on. The mind cannot see what it should see. This happens with many market speculators too, in a winning market (can be both short and long), the winner starts increasing his stakes as he gains more money and in the last few trades he increases the stake so much that all of his earning are wiped off. He may even be in debts and commit suicide (I know of a few such cases from my involvement with the Karachi Stock Exchange). Btw, this greed thing is a personal experience with my involvement with KSE :)

You might have seen this picture.

Sure people can argue that the masters of the trade know how to control greed - but only a few are masters - rest of the crowd is just herd mentality. And in the end, these masters get all the money lost by the herd. A disequilibrium in distribution of wealth.

I am of the opinion (though I may not have the complete knowledge to back my arguments since these masters are very well versed in fooling people), the current capitalistic economic system is being run by these few masters and the whole world is following blindly as a herd.

On the side of this discussion and somewhat relevant, some friends however feel that Man has been gifted wisdom and independent thinking and therefore need not be controlled and even without controlling he will behave rationally.

http://www.siasat.pk/forum/showthread.php?165523-ALLAH-SWT-and-his-bounties&p=1364682#post1364682