Zardari’s Aright Approach
By aslam • Oct 6th, 2008 • Category: Politics • 4 CommentsThe State Bank of Pakistan (SBP) said the country’s foreign reserves fell to $8.136 billion on September 27 compared to $8.824 billion a week before on September 20. The central bank’s own reserves dropped by $721.2 million to $4.686 billion. Contrary to this, foreign reserves held by commercial banks rose by $33.5 million to $3.450 billion. Pakistan’s total liquid foreign exchange reserves stood at its highest level of $16.078 billion in September 2007. Of that figure, the reserves held by the central bank were over $13.804 billion and those by commercial banks at $2.275 billion.
Under the Accelerating Economic Transformation Programme, the Asian Development Bank (ADB) has given $500 million first tranche out of a total $1.4 billion loan facility to Pakistan, but they are not going to last for much and would do very little to puff some fresh air into the ailing economy of Pakistan.
President Asif Ali Zardari has called for international community to give $100 billion in grant for Pakistan’s stability and survival. He cited the threat posed by militants along the Pakistan-Afghanistan border and the possible economic meltdown, asking world community to provide $100 billions in grant for Pakistan.
That is the way to go, if we really to want to survive. We have to press upon the international community that a bankrupt nuclear Pakistan infested with the militants is bound to take the whole region in the abyss when it goes down. Pakistan needs the international community and the international community needs Pakistan. Pakistan can only help the West, if they help us out.
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100 billion $.?????… churiya huwa hai kia baba? yahan koi 100 million daynay ko tayyar nahin hai aur yeh 100 millions mangta hai..
Subject: Pakistan faces bankruptcy with $3bn forex reserves Pakistan’s foreign exchange reserves are on the brink at a mere $3 billion - enough to buy only a month’s supply of oil and food, a newspaper reported Tuesday. The Daily Telegraph said that on paper the country’s central bank holds $8.14 billion of foreign currency, but if forward liabilities are included, the real reserves may be only $3 billion. It said Pakistan had $16 billion of foreign exchange nine months ago, but high oil prices “have combined with endemic corruption and mismanagement to inflict huge damage on the economyâ€. BHUTTO ZINDA HAI BAHIE ZINDA HAI. ZARDARI, it took him couple of months to empty our reserves as I said earlier couple months ago. Zaidizaidi@friendsofpakistan.com.pk
There is obviously a lot more to figure out about this issue, but you made some really good points. I will definitely be checking here more often. Thank you.
Thanks for sharing. That was EXACTLY what I had in mind.