Daimler-Chrysler Abandons Mercedes plant project, Pakistan will miss at least $5 billion exports annually.

Daimler-Chrysler and its UAE-based Coastal Group has walked out of Pakistan with their $1.1 billion Mercedes Benz manufacturing plant project as the government’s last ditch efforts to save the investment plan have failed. Daimler-Chrysler, a group of two auto sector global giants and manufacturers of Mercedez Benz, had formed a joint venture with Coastal Group of UAE to set-up a Mercedez Benz manufacturing plant in Pakistan.

Summary of the three reports of the J. P Morgan, the Merrill Lynch, and the City Group on the performance of Pak economy have already appeared in the press in addition to a very positive report of the World Bank released in Washington on “Doing Business in South Asia - 2007, which gives high marks to Pakistan in improving its business environment.

March 2007: What happens ONE MONTH LATER to obstruct & destroy PAK’s bright economic future?

The Lawyers movement i.e International Conspiracy to destabilize PAK!

1- Flight of the capital to Dubai. Some estimates close to $2.5 billion has left Pakistan’s banks

2- KSE has lost more than 1,000 points since early April

3- Finance Minister Dar has not attended except one meeting of the ECC. There was a meeting of ECC today which Dar did not attend. He is more involved in politics of Nawaz Sharif rather then looking after the economy of the country

4- Rupee has lost 7% of its value against the US dollar in the past 15 days

5- KCCI has send ‘numerous’ requests and signals to the Dar to have meetings concerning the economy but they have not heard ‘one’ response from him.

6- The ‘white paper’ that Dar was bragging about white paper of past 8 years of economic performance was nothing but a ‘white lie’ from Dar because he could not prove anything!

Do you want something more to open your eyes?

I think you are from the class where it doesn’t matter if economy of the country going down but I wiil tell you not since 9 March 2007 but of last two and half months (only) story of your favourite democratic coalition govt.

1- Rupee DEVALUED from Rs.61 to Rs.71
2- Ata prices increase by Rs.450 per 40 kg (in Shauat Aziz tenure) to Rs.780 per 40 kg bag.
3- KHI stock falls by 1000 points
4- Foreign reserves fell from $16bn to $12bn

“Rupee touches 71/dollar in early trading”

KARACHI: The rupee slumped 3.5 percent against the dollar on Friday, closing at Rs 65 for buying and Rs 67 for selling in the interbank market, after having touched Rs 71 in early trading!

WELCOME to DEMON-CRAZY !

Can you write something about the economy of Pakistan since 9th March 2007?