Mav3rick
Registered Member
It does not matter how many times you, I, or others explain these points.......people who are blinded by politics or fanboyism will never ever even begin to understand what is being explained. Matter of fact is, even COVID was a blessing as Pakistan got a 2-year relief on debt servicing whereas IMF gave over 2.3 Billion USD in grant (this was NOT a loan); and while all other countries were buying the COVID vaccine, we got most of ours in grant, loan or gift. Moreover, Pakistan received orders from overseas as Bangladesh, India and Vietnam were locked down which helped grow the exports (temporarily though).While external challenges like COVID were real, PTI administration's internal fiscal choices heavily destabilized Pakistan’s economic foundation, and the Russia Ukraine war cannot be used as an excuse since Imran Khan was ousted almost immediately after it began.
The nominal GDP growth seen in 2021 and 2022 was an unsustainable, import heavy expansion that overheated the economy and drove total public debt up by 78%, skyrocketing from Rs. 24.95 trillion to Rs. 44.36 trillion. This borrowing spree was accompanied by a 50% devaluation of the rupee, which plunged from Rs. 123 to Rs. 183 against the US dollar, while energy circular debt doubled to over Rs. 2.5 trillion.
The definitive economic blow came in February 2022 when He introduced an unbudgeted fuel and electricity subsidy package that cost up to Rs. 300 billion monthly; this populist move directly violated Pakistan's agreement with the IMF, freezing the program, draining central bank reserves, and leaving the country on the absolute brink of default.
All this, 100% support from the establishment and the judiciary and still Imran Khan destroyed the economy! As if Hakeem Saeed and Dr. Israr Ahmad had told us well in advance that Imran Khan was a planted agent of the Jews. No wonder they got him married to one of their richest heirs and he ran to London to support his brother in law against Sajid Khan in the Mayoral elections of London!
Another FACT is that IK deliberately sabotaged the IMF program when his fate got sealed. What my fellow Pakistanis, blind and senseless Pakistanis, do not realize is that IK may have done that to damage PDM but with that step, he punished each and every Pakistani!!! His single move set us back atleast 3 years with the following devaluation and associated financial damage. Ishaq Dar hammered the final nail in the coffin by locking horns with IMF which set us back another 5 years IMO by virtue of further devaluation. Otherwise, I believe the conversion rate would be 200 to a Dollar at max.




