تمام صوبے سرپلس،پنجاب کا خسارہ،مریم سرکار نےIMF پروگرام داؤ پر لگادیا
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Wake up Pak
(50k+ posts) بابائے فورم
ہر روز میڈیا اور سوشل میڈیا پر ڈرامے کرتے، ترقی کی دعویٰ دار فارم 47 کی پیداوار ٹک ٹاکر گینگ کو ایک اور سبکی کا سامنا۔پنجاب حکومت کو IMF کے سیٹ کیے ٹارگٹ سے ڈبل خسارے کا سامنا جبکہ خیبرپختونخوا حکومت نے اپنے ٹارگٹ سے دو گنا سے بھی زیادہ سرپلس ٹارگٹ عبور کر لیا لیکن میڈیا پر تماشے کرتی ٹک ٹاکر کے مطابق پنجاب میں ترقی کا گئیر لگ گیا ہے، شاید یہ ریورس گیئر ہے جو 11 کروڑ سے زائد عوام کا ہر روز استحصال جاری ہے۔
Wake up Pak
(50k+ posts) بابائے فورم
Despite interest rate reductions, the economy remains in a mud hole. The reasons are manifold: Large Scale Manufacturing is still contracting and exports are not picking up. FBR is hounding the formal sector and that has led to a seizure of economic activity in multiple areas. Over taxation of manufacturing sector is at its peak and haemorrhaging industrial activity. Secondly, the government is the biggest spender in any economy through its development outlay. It drives a large portion of aggregate demand. In Pakistan’s case the development spending has been significantly curtailed as a last resource to curtail the ballooning budget deficit. This has reduced spending & economic activity in the country due to the multiplier effect. Thirdly, agriculture! Another main driver of economic stimulus in Pakistan and this tap too has unfortunately dried up. Poor wheat prices coupled with the refusal of government to bail out farmers at announced support prices has robbed this sector of any ability to produce spur economic spending for the rest of the country. The farmers have suffered heavy losses due to ill timed import of sub standard Ukrainian Wheat along with Punjab Government’s decision to not buy wheat from farmers at support price. Spiralling energy prices have also deprived farmers of almost all their disposable incomes. The overall sentiment amongst entrepreneurs is still negative. Political instability, deteriorating rule of law & establishments aggressive attack on all other institutions of the State is causing investors to flee the country along with their capital. Our shallow & tiny stock exchange is bullish from its low and undervalued base but it means nothing within the overall context of the economy still stuck in a rut. A stabilisation of numbers has been partially achieved on paper by choking the economy but the reality on ground is still grim. Energy sector continues to sink in circular debt and the country’s overall debt numbers have multiplied. There has been virtually zero reform effort in any sector of the economy in last 2 years. The interest rates are still in double digits and deindustrialisation has become the hard reality for the economy.Amongst this backdrop, Last week the country’s top bosses gathered together to welcome a fried chicken joint in the country. Then yesterday we had a real estate owned by retired military officers offer its bid to buy the national airline at a price much below even its reserve price. This is the state of SIFC that was once touted as a game changer. There is no substitute for a healthy functioning democracy. There is no alternative or escape from the imperative of rule of law. The sooner we realise this and grow out of the infant ideas or desires of macho unelected men fixing complex economic problems the better. The country and its economy is crying out for deep structural reforms and only a truly elected & stable government that enjoys the public mandate & legitimacy will be able to embark upon that.
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