Pakistan's economy: expert paints bleak picture

[arifkarim]

Pakistan's economy: expert paints bleak picture​

Recorder Report Updated 03 Oct 2021
Comments

KARACHI: We are rushing fast towards “A Broken Economy” with serious financial crisis and mass joblessness. A Broken Economy is where Inflation and interest rate moves continuously towards the higher side, said Ateeq Ur Rehman, an Economic and Financial Analyst.

Due to expensive cost of borrowing it is difficult for a common man to add finance to his business or entity for expansion or to create margin to fight inflation. Micro financing through banks is unbearable, he said.
Millions of household have been struggling to make their ends meet and being crushed due to Covid pandemic, high energy prices, currency devaluation, hike in gas and POL products, etc. This is a continuous apathy without any end.
He said locally, to run the affairs we are borrowing persistently. Our external debt is historically high now, which is nearly $122.5 billion that is almost an increase of $26 Billion in last 3 years. This is directly affecting the momentum of economic stability and consequently bringing towering effect on a common man, said Ateeq.

Moreover, the trade gap is ballooning day by day with a vast difference between imports and exports. "We have touched nearly $70 billion for importing commodities like POL products, coal, industrial raw material, agriculture produce, etc."

"Whereas the exports are below $25 billion; otherwise we can diversify and focus on exports of IT, textiles, medicines, poultry, dairy, sea foods, rice, fruits, leather goods, salt, marble, surgical goods, motorcycles, furniture, etc."

He added that electric, gas, petroleum tariff hikes without tackling the deep rooted consequences will not work. The government needs to carefully weigh the proposals before making a final decision, since it is going to have quite a deep impact on the vast majority of the people and not a limited number of them.

Copyright Business Recorder, 2021

 

[Citizen X]

Yeh asar hota hai sara din nooray jamadar ke saath maghaz maari kerne ka, banda khud bhi pagal hojata hai

 

[Doom1111]

Just PTI did in 4 months. Simply due to consumption, easing taxes on import and import led growth. IMF 100% will ask to go for a mini budget.

https://twitter.com/x/status/1445017173299240960

 

[NasNY]

It is not about imports or exports, debt or loans,

Pakistan only needs to collect Taxes and go after everyone and bring them under TAX laws within a year.

Create JOBS JOBS JOBS, more jobs mean more citizen paying taxes.

Hire college graduates in any degree and set them up in FBR, TAX offices in every city (Segments) town and village.

Pay these college graduates a living salary, and low cost housing. The money paid to them will be returned back to the govt in taxes, and consumption, creating a net Zero cost to the GOVT.

It will take 10 years, everything will be back to normal.

JOBS and TAX collection, everything else will fall into place.

 

[Okara]

Population of Pakistan 220Millions. Lets assume 25% can work and all are working as a labor at Rs500 per day. Our national Per day Income will be Rs27.5 Billions and if 5 days a week the annually will be over Rs 7 Tr and our GDP is over Rs46 Tr. All I am saying we as a nation have to create habit of working not depending on begging. Like Omer Shareef was not a Poor person and can afford his treatment yet was looking government and government means public money. If government is giving anything free today its not free but a debt of nation and has to pay by whole nation.

 

[miafridi]

Even advance economies are feeling the heat these days.

Rising petrol, freight and commodity prices is a global issue, and for a net importer country the gap was bound to increase. It's not that the govt has done something terribly wrong.

 

[arifkarim]

wrong. Main problem is inflation number, which will increase due to IMF condition and we have the highest inflation in the region, right now Pakistan has the highest inflation of 9% due to subsidizing import, artificial demand of imports and created a shortage due to fixing prices. In winter, Pakistan inflation 13% to 14% inflation due to gas prices and electricity prices. All this was avoidable if Imran khan was not desperate to win election on June 2021 and listen to Hafeez advice.

Turkey has above 20 percent inflation Khotay

 

[Wake Up Pakistan]

wrong. Main problem is inflation number, which will increase due to IMF condition and we have the highest inflation in the region, right now Pakistan has the highest inflation of 9% due to subsidizing import, artificial demand of imports and created a shortage due to fixing prices. In winter, Pakistan inflation 13% to 14% inflation due to gas prices and electricity prices. All this was avoidable if Imran khan was not desperate to win election on June 2021 and listen to Hafeez advice.

عمران خان نہ الیکشن جیتے . باقی سرے گدار ٢ نمبریا کرپٹ الیکشن جیت جایئں. وہا پٹواری صاحب . کمال اے ہیں

 

[Masud Rajaa]

This bleak picture is world wide
why are you singling out Pakistan?

 

[Talisman]

Start collecting taxes, stop money transfer from Pakistan, put a limit on transferring funds.

Bring all stolen money back from overseas, tell IMF, LISTEN you mother effers, you gave these loans to your pimps zadari & Nawaz who transferred the same amount back into your countries via money laundering and you EXPECT US TO RETURN THAT LOAN? REALLY YOU SATANIST PIG..
F U SAYS PAKISTAN.

 

[Pakistan Space Agency]

Turkey has above 20 percent inflation

That's why they've ended up with over 8 million Turkish Liras equivalent to 1 US Dollar.

$1 = TRY 8,855,274

Revaluation of the Turkish lira - Wikipedia

en.m.wikipedia.org

 

[arifkarim]

That's why they've ended up with over 8 million Turkish Liras equivalent to 1 US Dollar.

$1 = TRY 8,855,274

Revaluation of the Turkish lira - Wikipedia

en.m.wikipedia.org

Lol that was because Turkey went bankrupt in 2001

2001 Turkish economic crisis - Wikipedia

en.wikipedia.org

 

[Curious_Mind]

Pakistan's economy: expert paints bleak picture​

Recorder Report Updated 03 Oct 2021
Comments

KARACHI: We are rushing fast towards “A Broken Economy” with serious financial crisis and mass joblessness. A Broken Economy is where Inflation and interest rate moves continuously towards the higher side, said Ateeq Ur Rehman, an Economic and Financial Analyst.

Due to expensive cost of borrowing it is difficult for a common man to add finance to his business or entity for expansion or to create margin to fight inflation. Micro financing through banks is unbearable, he said.
Millions of household have been struggling to make their ends meet and being crushed due to Covid pandemic, high energy prices, currency devaluation, hike in gas and POL products, etc. This is a continuous apathy without any end.
He said locally, to run the affairs we are borrowing persistently. Our external debt is historically high now, which is nearly $122.5 billion that is almost an increase of $26 Billion in last 3 years. This is directly affecting the momentum of economic stability and consequently bringing towering effect on a common man, said Ateeq.

Moreover, the trade gap is ballooning day by day with a vast difference between imports and exports. "We have touched nearly $70 billion for importing commodities like POL products, coal, industrial raw material, agriculture produce, etc."

"Whereas the exports are below $25 billion; otherwise we can diversify and focus on exports of IT, textiles, medicines, poultry, dairy, sea foods, rice, fruits, leather goods, salt, marble, surgical goods, motorcycles, furniture, etc."

He added that electric, gas, petroleum tariff hikes without tackling the deep rooted consequences will not work. The government needs to carefully weigh the proposals before making a final decision, since it is going to have quite a deep impact on the vast majority of the people and not a limited number of them.

Copyright Business Recorder, 2021

These so called economic experts can’t even take care of the finance of their so called institutions they work in.

the easiest thing in this world is to paint a dark picture.

 

[Citizen X]

These so called economic experts can’t even take care of the finance of their so called institutions they work in.

the easiest thing in this world is to paint a dark picture.

Exactly, and specially this Ateeq ur rehman lassan, for the past god knows how many years he has not written a single positive article, its always the doom and gloom and the sky is always falling

 

[disgusted]

When has our economy ever been strong ? Since the end of Ayub Khan we are getting opinions from economists about our crash landing of our economy. Miraculously we survive. Perhaps this the biggest reason that economist are no longer welcome in any deptt. During Ayub Khan's time our economy was quite good and we managed to give a loan to Federal Replic of Germany [West Germany] the gulf sheikhs were getting an annual stipend from Pakistan. Suddenly the offspring of a whore from Rajastan arrived and started nationalizing every thing including 'lobia selling' dhabas. We have yet to recover from that calamity. This SOB put his ball-licking bureaucrats in the big corporations and everything collapsed. The second phase was the loot and plunder startd by the seller of black market tickets who had married the necklace thief daku Rani of Sind who like her name was Benazir in theft. The scions of Amritsari pimp shoved it the people's bottom. Imran is not a magician to solve all this in 5 or 10 yrs. Bureaucrats are not collaborating becuse bhagori has porn videos of all who matter from A to Z. Pakistanis should now wait patiently and enjoy the rape which was started by the whore's son.