Pakistan’s forex reserves exceed $16 billion

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Re: Pakistan’s forex reserves exceed $16 billion

@Sa1eem

In reality it is not like that. What one take as loan, one have to pay that back.

no way..not in pakistan. U lie.

@Sa1eem

Well, since 1999 Pakistan is paying more money than borrowing and that is why Pakistan debt is not increasing that much. You should know that if Pakistan had stopped paying anything towards debt taken before 1999 and did not borrowed a single penny, Pakistan debt would have increased by over 2 billion dollars a year or today it would have been over 16 billion dollars more than 1999 (rather 20 billion dollars) as that would have been just interest on debt Pakistan had in 1999 (that was around 38 billion dollars). Today even after including all the earthquake related debt, debt is around 40 billion dollars.

[If Pakistan did not borrowed a single penny nor paid any interest on pre-1999 debts than today, because of interest and interest on interest, Pakistan external debts would have been around $60 billion]

So, do not say that Pakistan got a lot of soft loans … rather Pakistan received much less than what Pakistan paid back past dollar debts.

[and that is also true about local rupee debts … In 1999 Pakistan local debt was 1700 billion rupees and interest on that local debt Pakistan was to pay every year was around 300 billion rupees a year. So, you can imagine that after 8 years, debt plus interest plus interest on already taken debts, how much that could have been (Note Pakistan was paying around 16 to 18 percent a year on those debts). What I believe it would have been around Rs 5000 billion rupees at least. Today local debt is Rs 2400 billion rupees.]

If’s and But’s. I refuse to be drawn into that. If u r going to keep all else equal, then u must also remove the deferment of loans and the 10 billions dollars in aid and the expat money from the equation. Also, add some sanctions to the mix. Useless debate.

@Sa1eem

Who said that President is not taking credit for that. That is different matter that President did not stole so much money that he can start a party with his own money and contest elections.

tee hee. Obviously he is innocent in the making of the Q League. He did not need money to form parties. He had the danda.

@Sa1eem

As for roti jumping from 2.5 to 4, I have heard that many time and it seems that every year since 1999 roti is jumping from 2.5 to 4. Could not say what the reality is. Please first tell me what was the price of roti in 1999?

The price wasn’t even Rs. 2.5 back then, if u must know. oh no. did I just ruin the govt’s case?

@Sa1eem

And yea, if you mean to say that roti went up from 2.5 in 1999 to 4 today in 2007, than also tell what happened to wages? Its because what I know that minimum wages in 1999 was around Rs 1200 a month and now it is Rs 4600 a month … that is more than 300 percent increase in wages, but roti gone up from 2.5 to 4 … it makes around 55 percent. How is that?

Obviously, in land of the pure, everyone gets the minimum wage. Absolutely. I know of no case where people r being paid less than that. Forget that, I did not actually just see a documentary on a family living off Rs. 4600 just yesterday. They were coping marvelously well. Small little family. In a small little room..ok wait..the roof of the said room was leaking cuz of rains but still it made for a nice adventure. I am not in denial. I only live on official statistics.

@Sa1eem

Just imagine that Chief Justice whose salary use to be Rs 20000 a month in 1998 today gets Rs 134000 a month plus generous allowances and pension (that is on top of what these people earn from corrupton :)).

wow..just imagine. also imagine the presidency expenditure. I am sure there has been no change in that. just imagine the frugality of our rulers. just imagine.

@Sa1eem

One should see that if they are getting more money today, more than roti going up from 2.5 to 4, or not? If Chief justice could get 6.7 times rise in salary from 1998 to today (2007) plus many other generous allowances, why he should not pay Rs 4 instead of Rs 2.5 for roti?

Let’s have some other example, shall we? Not saying that cuz I am pro-judiciary. It’s just that u’ll find much better examples if u look at the general’s wage increases and “generous allowances” since 99. I just want to make ur case strong.

@Sa1eem

You know what 6.7 times rise means?

Of course not. Not having seen such heft increases in my fortunes, what would I know. Please indulge.

@Sa1eem

It means that for every Rs 2.5 Chief Justice was getting in 1998, today he is getting Rs16.75. So if Chief Justice could have bought one roti at Rs 2.5 in 1998, today he can buy 4 rotis at Rs 4 with some change left.

boo yaa to all those clamoring for price stability

@Sa1eem

Same way a person on minimum wage, if he use to earn Rs 2.5 in 1999, today he is earning Rs 8 plus (minimum wage increased from around Rs 1200 in 1999 to today Rs 4600). That means a person on minimum wage, if he could have bought one roti in 1999 at Rs 2.5, today he could buy 2 roti at Rs 4 each.

@Sa1eem

Array bhai, if Wheat would become expensive than only kissan would get more money and if that would happen than roti would go from 2.5 to 4. People who make roti also needs a bit of more earning so do others involved in roti trade. When Chief Justice can have a pay rise of 6.7 times, why talk about roti going up from 2.5 to 4?

oyee hoyee. Govt. should take back the 6.7 times increase in CJ’s pay. I figure he eats about 3 roti’s a day. Add up the same no. for all his family members. 1 son. 2 daughters. 1 wife.

3+3+3+3+3= 15430= 1800

So in my estimation his wage should have only been increased by 1800. Whats the deal with increasing it by 6.7 times. But with so much money flowing in the obviously strong economy, the govt. can be pardoned for being a little generous, especially after it loss a court battle. I understand.

@Sa1eem

Brother, we should think of Kisaan too. Kissan ko bhie tou kuch khannay dou. Uss ka bhie tou kuch khiyaal karo. Kisaan also eat, need cloths and shelter. Kisaan also needs money. Kisaan also needs motorcycle and TV and how can Kissan could get motorcycle and TV if roti would be 2.5 and not 4?

TV, motorcycle. Cool. Right after he can manage some education and food. Otherwise, we keep hearing taunts of how the nation doesn’t deserve democracy and we r all collective jack asses for having a dictatorship

Rock on :biggthumb