Pakistan shifts from stabilisation to export-led growth, says finance minister

[Distant_Observer]

export led growth... hmmm.. wht is he smoking?
in which sector are we self sufficient or near to self sufficient??
even textile sector is in a pit due to high energy cost, low cotton production and low investor confidence. Our Electronic, electrical, metallurgy, hardware, precision equipment, chemical, pharmaceutical, synthetic fiber, plastic, etc etc. industry is based on imported raw material and we rarely meet the latest global standards.
forget industry, our chemical / fertilizer plants have to import specialist welders for safety reason as less than a dozen welds fail in radiological examination later. I need not even mention this ratio if it was done by local contractors.
point being our base is non existent or wrong. we need skilled manpower along with specialised industrial units. This cant b achieved in less than a decade long concerted efforts.

Incredible amount of issues to resolve.

When Pakistan's equivalent nations are delivering $300 billion a year exports it puts their situation into perspective.

I do see positive change and it will take a few years to see the results. As long as there is political stability and continuity of policy.

 

[Jango]

Anyone crying about it wanted the gravy train to continue at the expense of the tax-payers/government.

There were multiple bidding opportunities and any/all bidders were welcome. So transparency wise, it was pretty open.

Also, keep in mind, whoever is not ruling will question any or all things the sitting government is doing. Goes with the territory.

1- FFC joins the bidding process as an independent party in the initial stages.
2- Removes itself with an understanding to join the winning party, whichever it may be (Not sure how 'transparent' that is)
3- A state owned "trust" is now owning the entity after privatization.

I ask a question about how that works, but you bring in a PTI innuendo and label others as 'crying'.

I guess we should all just put a Asim Munir zindabad tattoo on our foreheads and not question anything?

Unbelievable.

 

[Blain2]

1- FFC joins the bidding process as an independent party in the initial stages.
2- Removes itself with an understanding to join the winning party, whichever it may be (Not sure how 'transparent' that is)
3- A state owned "trust" is now owning the entity after privatization.

I ask a question about how that works, but you bring in a PTI innuendo and label others as 'crying'.

I guess we should all just put a Asim Munir zindabad tattoo on our foreheads and not question anything?

Unbelievable.

Nothing wrong either either 1 or 2.

#3, a state owned foundation would be owning a "part" of the company, but not the "Controlling" part. Better than the current situation where the state owned 100% of the company.

I added no PTI innuendo but simply stated that any sitting government would get pushback from those sitting in opposition and their supporters. This has been going on for ages since "politicizing" everything helps to keep those across the aisle relevant and the gravy train/halva going.

You can question anything here but then why act so puzzled when you see a response on a public forum? Conversely, many others here already have an Imran Khan tattoo afixed on their bodies so getting an Asim Munir one may not be a novel idea.

 

[Meengla]

I do see positive change and it will take a few years to see the results. As long as there is political stability and continuity of policy.

Many changes are coming up, enforced by the military's 'Danda'. I don't think many people here really understand the psychological impact of Pakistan's near 'default' in 2022/23, the impact of India's failed Operation Sindoor and the 'do or die' situation Pakistan faces to turn its economy around regardless of 'democracy' or 'rule of law' or what such things.

I believe the changes happening and going to happen are tyrannical like Zia's era was, which ended in 1988, but the focus now is on reviving Pakistan's economy. No more the use of 'religion' like Zia did or by those who followed him: 'It is the economy, Stupid!'. And right now, there are favorable winds for Pakistan, driven by the geopolitics, by a defeated internal political opposition, and by a determined General Asim Munir. And I am one of those unabashed supporters of the changes happening and for those being planned.

 

[Jango]

Nothing wrong either either 1 or 2.

You really think there is nothing wrong with a fauji owned entity making a deal with the private sector entities to get some ownership, no matter who wins? I don't think I have anything to say after this.

Conversely, many others here already have an Imran Khan tattoo afixed on their bodies so getting an Asim Munir one may not be a novel idea.

Couldn't care less. Give it a few years, it will be decreed to have an Asim Munir tattoo by law.

 

[Meengla]

a state owned foundation would be owning a "part" of the company, but not the "Controlling" part.

I added no PTI innuendo but simply stated that any sitting government would get pushback from those sitting in opposition and their supporters. This has been going on for ages since "politicizing" everything helps to keep those across the aisle relevant and the gravy train/halva going.

The 'controlling' part is the key along with noting that those billionaires from Karachi investing in the PIA privatization are not some damn fools willing to absorb large losses.

As to those opposing the PIA privatization and other govt moves, not all are 'the Cultists' here: There are some sane ones here. They are, of course, free to express their views even if I may disagree with them here and there.

 

[Goenitz]

If the government will be paying pensions and salaries to all employees after one year, then why did we sell it, as it was a major chunk of the loss? Lastly, the liabilities are still owned by the government (though it has sold 75%).

 

[Blain2]

You really think there is nothing wrong with a fauji owned entity making a deal with the private sector entities to get some ownership, no matter who wins? I don't think I have anything to say after this.


Couldn't care less. Give it a few years, it will be decreed to have an Asim Munir tattoo by law.

What is wrong with the Fauji Foundation having part ownership? Did you see a hundred foreign investors tripping over themselves to bid for PIA? Take a look at the context/environment kindly. Above statements betray naivete.

You can say whatever you want about Asim Munir, Army this or that, general so and so. None of that matters. What matters is that Pakistan's economy and internal/external security situation is stabilized. If Asim Munir and the current set up can do it, good on them.

Last, on this topic of tattoo, Pakistanis have no idea how a dictatorship is actually run because Pakistan has NEVER experienced a real one. Pakistan's current set up does not even come close to even the Egyptian dictatorship let alone some of the more "standard" dictatorial setups. Everything in Pakistan is done with a soft-glove on. Not that I support what is being done to IK but people also need to realize that this system can mete out a lot worse and it does not for a certain reason.

 

[Blain2]

If the government will be paying pensions and salaries to all employees after one year, then why did we sell it, as it was a major chunk of the loss? Lastly, the liabilities are still owned by the government (though it has sold 75%).

Because eventually the PIA liability will be weaned off government books. There is no way this can be done overnight because if this sale went to a private firm (not very many even wanted to deal with this mess), they would fire 90% of the staff. That would cause a huge hue and cry all over Pakistan. Thus this gradual approach.

 

[Goenitz]

Because eventually the PIA liability will be weaned off government books. There is no way this can be done overnight because if this sale went to a private firm (not very many even wanted to deal with this mess), they would fire 90% of the staff. That would cause a huge hue and cry all over Pakistan. Thus this gradual approach.

I heard last time the company wanted to share 60% liability (700-800 billion Rs) while paying 10 billion Rs. (I will post the link)
Anyway, the PIA thing can be discussed on its thread.

 

[Jango]

What is wrong with the Fauji Foundation having part ownership?


Did you see a hundred foreign investors tripping over themselves to bid for PIA? Take a look at the context/environment kindly.

The big boss taking a cut, while letting the minions squabble amongst each other. Does that make it simpler? You wanted to get rid of PIA, but instead you had Fauji Foundation become a part of it. Basically ownership transfer to faujis, just like everything else in this country. How's the Bahria Town takeover coming along?

And Fauji inclusion has nothing to do with foreign interest, or lack of. Come on.

If Asim Munir and the current set up can do it, good on them.

Godspeed!

Last, on this topic of tattoo, Pakistanis have no idea how a dictatorship is actually run because Pakistan has NEVER experienced a real one. Pakistan's current set up does not even come close to even the Egyptian dictatorship let alone some of the more "standard" dictatorial setups. Everything in Pakistan is done with a soft-glove on. Not that I support what is being done to IK but people also need to realize that this system can mete out a lot worse and it does not for a certain reason.

Oh what a relief. Thank you Asim Munir for not enacting a complete dictatorship, indebted sir. Unbelievable line of reasoning.

And I've had acquanitances who had to go to prison (or a safe house to be exact), and who had to be fired from their jobs. So I'd say it is a dictatorship. Or shall we play a semantics game here first?

 

[VCheng]

Because eventually the PIA liability will be weaned off government books. There is no way this can be done overnight because if this sale went to a private firm (not very many even wanted to deal with this mess), they would fire 90% of the staff. That would cause a huge hue and cry all over Pakistan. Thus this gradual approach.

I think I know of someone who could have done this in 90 days.

 

[Blain2]

The big boss taking a cut, while letting the minions squabble amongst each other. Does that make it simpler? You wanted to get rid of PIA, but instead you had Fauji Foundation become a part of it. Basically ownership transfer to faujis, just like everything else in this country. How's the Bahria Town takeover coming along?

And Fauji inclusion has nothing to do with foreign interest, or lack of. Come on.

Godspeed!


Oh what a relief. Thank you Asim Munir for not enacting a complete dictatorship, indebted sir. Unbelievable line of reasoning.

And I've had acquanitances who had to go to prison (or a safe house to be exact), and who had to be fired from their jobs. So I'd say it is a dictatorship. Or shall we play a semantics game here first?

The first part is silly innuendo so I don't even want to bother responding.

Last part, this is not a semantics issue. This is the first time Punjab/KP has had to endure something at the hands of the very system they have created and nurtured, thus this hue and cry. What you see currently is NOTHING compared to what this very system can mete out. So hold on to your debt of gratitude, you may need it later.

Every line of my reasoning will come across to you as "unbelievable, leaving you with nothing to say" but that is because you are entirely grounded in PTI propaganda where no matter what good may come out of the current system, you will never see it as such.

Let me also be frank here. I am willing to grant that this system has done PTI/IK some injustice but I also feel it is trying to right the ship for the economy/security. This, you of course will never concede/grant given the very binary space you and many other PTI supporters live in, thus these pages are filled with constant criticism of everything taken on by the current system.

 

[Blain2]

I think I know of someone who could have done this in 90 days.

Then you know the Tamasha/politicization would have started by the affectees and their supporters.

 

[Pakistanithinktank]

Kis bechare ka naseeb phota jis ne PIA purchase ki ?

With Privatization, PIA could become profitable if remove all the ghost employees, consolidate departments, automate process and improve service to become competitive.