The funniest Darism till date - To beg IMF on my own terms

[Awesome]

To pay off Rs370 bn dues under circular debt by June 30: Ishaq Dar | BUSINESS - geo.tv

ISLAMABAD: Federal Finance Minister, Senator Ishaq Dar Sunday reaffirmed the government’s resolve to eliminate the vicious circular debt by announcing to pay it off by August 12.

Speaking from the floor of National Assembly, Senator Dar said the total amount of circular debt stood at Rs508 billion as of May 31 and vowed to pay off Rs370 billion by June 30 to partially settle the private sector dues. “The entire circular debt will be cleared by August 12,” he pledged.

He maintained that his government will look right into the International Monetary Fund’s (IMF) eye while negotiating a loan deal with it. “No dictation will be taken from it (IMF),” he added.

The Finance Minister said that the people will be taken into confidence over the agreement with the IMF and vowed to repay the loan obtained by the previous government.

He said the details of the pact reached with the IMF will also be made available on the Federal Finance Ministry’s website.

Beggars can't be choosers, Dar sahab!

 

[Zarvan]

To pay off Rs370 bn dues under circular debt by June 30: Ishaq Dar | BUSINESS - geo.tv



Beggars can't be choosers, Dar sahab!

He can only say this if he has assurance from some countries that they would give Pakistan money other wise he is not that dumb to give this statement

 

[Star Wars]

Your paying of the interest of your debt by taking another loan....? for IMF to accept something so preposterous the conditions will obviously be very strict...

 

[Leader]

Dar used to eat langer at data darbar when he got yateem in his college days, had he got some honour back then he would have worked somewhere and earned his money to buy food...

p.s.

and now Dar will dictate IMF, mama they are here to approve your budget plan, aukat cha aa yateema !

 

[batmannow]

To pay off Rs370 bn dues under circular debt by June 30: Ishaq Dar | BUSINESS - geo.tv



Beggars can't be choosers, Dar sahab!

pakistani damocrazy only deliver lossers at all levels!
stop supporting damocrazy in pakistan everything wouldbe fine?
isnt that not long ago in a dictators term ,pakistan said no its enough to IMF!
period!

 

[Albatross]

pakistani damocrazy only deliver lossers at all levels!
stop supporting damocrazy in pakistan everything wouldbe fine?
isnt that not long ago in a dictators term ,pakistan said no its enough to IMF!
period!

Well I am not a supporter of NZ or zardari or a hater of Pakistan but what army gave us in their rule which is more than civil rule in pak . Just to discuss this is what army gave us despite some good things as well but look at the consequences of these major decisions all taken by generals . I would just highlight three incidents indicating lack of any long term vision and inner weakness when holding a post they were not meant to have in the first place . Remember a military ruler is the weakest during his initial years as head of state
1) 1960 indus water treaty for just a million dollar ayub khan gave ravi , sutlej and bayas to india officially instead of fighting for not allowing india to alter the course of water of any river .

2) Zia's decision to sit in US lap in 79 , what russia wanted was access to warm water gwadar port and a pro russian afghanistan . We could have let them develop gwadar for both of us and must have earned billions by now owing to transit revenues and also would have sorted out differences over afghanistan settling for a due influence in kabul something we are still longing for.

3) Musharraf peeing in his Pants when Bush called him asking are you with us or against us ?
Do you think US was in any position to bomb pakistan when all the 9/11 hijackers were arabs and OBL was in afghanistan ?
Pak had nothing to do with it whatsoever and being an independent nation we had all the rights to decide against siding that US war .

Can you see the long lasting effects of these decisions by military dictators on Pakistan ? A soldier is trained to fight at border not to run a state and if he does so he will make such decisions only . I am not getting into the royal treatment Pak army expected and was getting till recently as it will be off the thread .

 

[Jzaib]

He is so funny ... no wonder people call him mr bean..

 

[SBD-3]

Well I am not a supporter of NZ or zardari or a hater of Pakistan but what army gave us in their rule which is more than civil rule in pak . Just to discuss this is what army gave us despite some good things as well but look at the consequences of these major decisions all taken by generals . I would just highlight three incidents indicating lack of any long term vision and inner weakness when holding a post they were not meant to have in the first place . Remember a military ruler is the weakest during his initial years as head of state
1) 1960 indus water treaty for just a million dollar ayub khan gave ravi , sutlej and bayas to india officially instead of fighting for not allowing india to alter the course of water of any river .

2) Zia's decision to sit in US lap in 79 , what russia wanted was access to warm water gwadar port and a pro russian afghanistan . We could have let them develop gwadar for both of us and must have earned billions by now owing to transit revenues and also would have sorted out differences over afghanistan settling for a due influence in kabul something we are still longing for.

3) Musharraf peeing in his Pants when Bush called him asking are you with us or against us ?
Do you think US was in any position to bomb pakistan when all the 9/11 hijackers were arabs and OBL was in afghanistan ?
Pak had nothing to do with it whatsoever and being an independent nation we had all the rights to decide against siding that US war .

Can you see the long lasting effects of these decisions by military dictators on Pakistan ? A soldier is trained to fight at border not to run a state and if he does so he will make such decisions only . I am not getting into the royal treatment Pak army expected and was getting till recently as it will be off the thread .

How dare you quote the history to mouthpieces of fauj!!!!

 

[Fracker]

To pay off Rs370 bn dues under circular debt by June 30: Ishaq Dar | BUSINESS - geo.tv



Beggars can't be choosers, Dar sahab!

Ooh Bhai, it is not a new loan. It is just getting extension on paying the loan off.. Have you ever toke a loan then you would have understand what does this means.

Once their headache is off they can concentrate more on increasing their income rather then worried about this sword will hit them anytime.

 

[SBD-3]

Btw just to ask PTIians a simple question. Where's that gigantic investment inflow promised by expatriates to PTI?

 

[muse]

Beggars can't be choosers, Dar sahab!

Yes, of course -- but on the other hand below is from a S. J Burki piece:

Finance Minister Ishaq Dar’s budget speech on June 12 laid out what can be described as the economic development model the new government headed by Prime Minister Nawaz Sharif would like to follow. Implicit in the revealed strategy is a two-track approach. The government will first save the economy and then the task of reviving the economy will be undertaken.

The economy will be pulled back from impending disaster by undertaking massive public sector investments. The sector of energy will receive the government’s immediate attention. The first task will be to clear the circular debt that has reduced the generation of power since a number of independent power producers have reduced their output, because they were not appropriately compensated for the electricity they had already fed into the national grid. The only quick way of dealing with this problem is for the government to liquidate this debt and increasing government expenditure over the short term. This would be a one-shot injection of public money. Over the long run, the government indicated that it will put in place a system that would ensure that all consumers pay for the power they use.

Some have been critical of the decision to increase the fiscal deficit in order to tackle the problem created for the economy by serious power shortage. This approach will also make it difficult for Islamabad to sign another programme with the IMF, which does not like large deficits. For Pakistan, it would be irresponsible for the policymakers to opt for austerity at a period of extreme economic stress. By not mentioning the Fund even once in his speech, Minister Dar has indicated that he is prepared to postpone the inevitable approach to the Fund. That is the right approach to adopt.

BTW gone unnoticed by most Pakistanis is what the Chinese have approved, even as their citizens were murdered in Pakistan - for the first time they have allowed US$ 1 Billion which they had deposited as support for Reserves, to be converted for budgetary support

 

[SBD-3]

Ooh Bhai, it is not a new loan. It is just getting extension on paying the loan off.. Have you ever toke a loan then you would have understand what does this means.

Once their headache is off they can concentrate more on increasing their income rather then worried about this sword will hit them anytime.

Actually most of the media Socrates don't even know the ABC of financial and economic matters and our memory is extremely short in economics/finance. The negotiations are a part of ongoing program worth 7 Billion USD. Whatever IMF "dictates" us is for the recovery of Pakistan economy. RGST and VAT are essential in documentation of the economy but I guess none of the politicians will be ready to support government on its implementation because everybody draws votes from traders. Chamber of commerce and Retail and Trading Sector are badmashs of Pakistan economy. They consider themselves as untouchables.

Yes, of course -- but on the other hand below is from a S. J Burki piece:




BTW gone unnoticed by most Pakistanis is what the Chinese have approved, even as their citizens were murdered in Pakistan - for the first time they have allowed US$ 1 Billion which they had deposited as support for Reserves, to be converted for budgetary support

Thats actually through the swap line we just recently established with PBoC.

 

[AstanoshKhan]

Btw just to ask PTIians a simple question. Where's that gigantic investment inflow promised by expatriates to PTI?

What that has got anything to do with the thread at hand? Honestly Hasnain, you're losing grip on your sanity...

He is so funny ... no wonder people call him mr bean..

Ki Hogaya... that is our Interior Minister - Ch. Nisar.

 

[batmannow]

How dare you quote the history to mouthpieces of fauj!!!!

According to the reports by the International Monetary Fund (IMF), Pakistan was the third fastest growing economy after China and India during that era.

In 2002, the Karachi Stock Exchange (KSE) was declared the “Best Performing Stock Market of the World for the year 2002”.

Our industrial sector registered 26.5% growth on average. Manufacturing and construction sectors recorded a 30 year and 17 year high, respectively. The highest increase in tax collection of around Rs1trillion was injected in government revenues.

Amazingly, Pakistan railway was making profits. Other indicators include a drastic decrease in poverty. CNG fuel, information technology and especially the telecommunication sectors registered massive growths, and the dollar was just at Rs60.

Musharraf even played a significant role in transforming the infrastructure of this country. Four dams (Subakzai, Gomalzam, Khurram and Tangi) were constructed during his period.

He initiated the plans to work on seven motorways in different areas of Pakistan; some were completed during his period and others remained under construction. Advanced Gawadar port, Kachi Canal Project, Lyari Expressway and a 650km long coastal highway are also among the many achievements of Musharraf’s period.

Pervez Musharraf can also be hailed as the liberator of the media; being a dictator, he was the only one who seemed confident enough of himself and his countrymen to have given Pakistani’s the freedom of speech as well. He took major steps to empower the Pakistani women in our local and national assemblies and his aggressive education policy contributed to major positive riffles in Pakistan’s education system; our literacy rate improved by 11% during his period.

Nine well equipped engineering universities and 18 public universities, all over Pakistan irrespective of ethnic orientations, were made during his time. Several technical colleges and institutions also spurted during his reign.

Pakistan’s launched its first satellite, Paksat-1, in his time – Musharraf made it happen. His remarkable words cannot be forgotten:

“Pakistan’s space programme is now ahead of India after the formal launching of Paksat-1 and this is due to the hard work of our scientists, and I am sure Indians would take another 30 months to do the job.”

It was during his time that after years, the issue of Jammu and Kashmir was on the front table for talks.Pervez Musharraf deserves a second chance, our economy needs him! – The Express Tribune Blog

for your eyes only?
now think about financial crisses pak govt fighting now & the grand palaces & mansions of nawaz in london?
do i need to disscuss more?
anyway whats more can be expected by PMln a few more mansions in paris? maybe?

 

[SBD-3]

One more thing, our debt has, to a fair extent, already become unsustainable. Just a quick maths will show you how desperately we need growth.
Pakistan's current stock of debt is~ PKR 13000 Billion
Pakistan's current Real GDP stock is~ PKR 20000 Billion
Pakistan's current Debt to GDP is (13000/20000)= ~65%
Now the current budget deficit is estimated at 1600 Billion (out of with 1120 Billion is just the interest on outstanding debt)
Pakistan's debt stock next year is expected too be 14600 (13000+1600)
Now for maintaining our debt to GDP we need a real GDP growth of ~12% (Real GDP stock ~22462 Billion PKR)
Even if the Pakistan economy grows at 4.7% (budgetary estimates) our Real GDP stock is expected to end at 20920 Billion PKR
which roughly translates into 69% of Debt to GDP ratio. So in Just one year our debt to GDP will jump by 4%. This is the same situation which is prevailing in Europe (PIGS countries). Technically we call it debt-recession spiral where swelling debt drags economy into recession and with every cycle, the debt becomes more unsustainable while GDP stagnates.

According to the reports by the International Monetary Fund (IMF), Pakistan was the third fastest growing economy after China and India during that era.

In 2002, the Karachi Stock Exchange (KSE) was declared the “Best Performing Stock Market of the World for the year 2002”.

Our industrial sector registered 26.5% growth on average. Manufacturing and construction sectors recorded a 30 year and 17 year high, respectively. The highest increase in tax collection of around Rs1trillion was injected in government revenues.

Amazingly, Pakistan railway was making profits. Other indicators include a drastic decrease in poverty. CNG fuel, information technology and especially the telecommunication sectors registered massive growths, and the dollar was just at Rs60.

Musharraf even played a significant role in transforming the infrastructure of this country. Four dams (Subakzai, Gomalzam, Khurram and Tangi) were constructed during his period.

He initiated the plans to work on seven motorways in different areas of Pakistan; some were completed during his period and others remained under construction. Advanced Gawadar port, Kachi Canal Project, Lyari Expressway and a 650km long coastal highway are also among the many achievements of Musharraf’s period.

Pervez Musharraf can also be hailed as the liberator of the media; being a dictator, he was the only one who seemed confident enough of himself and his countrymen to have given Pakistani’s the freedom of speech as well. He took major steps to empower the Pakistani women in our local and national assemblies and his aggressive education policy contributed to major positive riffles in Pakistan’s education system; our literacy rate improved by 11% during his period.

Nine well equipped engineering universities and 18 public universities, all over Pakistan irrespective of ethnic orientations, were made during his time. Several technical colleges and institutions also spurted during his reign.

Pakistan’s launched its first satellite, Paksat-1, in his time – Musharraf made it happen. His remarkable words cannot be forgotten:

“Pakistan’s space programme is now ahead of India after the formal launching of Paksat-1 and this is due to the hard work of our scientists, and I am sure Indians would take another 30 months to do the job.”

It was during his time that after years, the issue of Jammu and Kashmir was on the front table for talks.Pervez Musharraf deserves a second chance, our economy needs him! – The Express Tribune Blog

for your eyes only?
now think about financial crisses pak govt fighting now & the grand palaces & mansions of nawaz in london?
do i need to disscuss more?
anyway whats more can be expected by PMln a few more mansions in paris? maybe?

What happened to the model followed by Musharraf in 2007 on wards is also a chapter in economic history of Pakistan. If you want me to discuss it in details I would be glad to do so.

What that has got anything to do with the thread at hand? Honestly Hasnain, you're losing grip on your sanity...

It is because we need FX inflows to counter IMF. And most of the expatriates are only interested in Pakistani politics. The most of the phone calls in talk shows are from expatriates.They yell, they cry but when it comes to helping Pakistan, they have their own preferences!