Manora Cantt Board going to Dubai based firm $20 Billion investment


Initial investment of $20 Billion for development, hotels,
apartments. Shaukat Aziz signed MoU in 2006.

Excuse my knowledge about this but what dose this mean for us? Regarding this issue, how in the hell has this come to Pakistan when in the world the dollar is falling and here the dollar is on a rapid rise, what can be the solution in at least stopping the rupee from falling.

why don,t Pakistan take the help from china instead of usa or world bank because Pakistanis have good relation with china and won,t feel any problem with it!
chau

Ask GOP.

If there was an emergency...Pakistan should have asked for soft credit lines from China, Saudi Arabia, UAE, Qatar, etc and anyone else in return for favouable business conditions/preferences to their nationals.

Congratulations. From 63 to a dollar to 70 in no time.

Pakistani economy officially going down to the dogs.

QUOTE(platinum786 @ May 9 2008, 07:09 PM)
Listen with the credit crunch and the imposition of emergency, everyone felt a squeeze, however if you take the KSE as a key economic indicator it never stuttered, even during the emergency rule fiasco. Right now it's shedding weight like it's on slimfast. There was a blip, every major event causes one, but it recovered.


KSE is an indicator of how AKD, Jehangir Siddiqui, Arif Habib and Co do gambling. The market does not follow any fundamentals or technicals and mostly responds to mere speculation or deliberate shorting of positions. I was associated with BMA Capital when the OGDC offering was going on and believe me its nothing but speculation.

Saira ... all shares are based on speculation .. Or else why would a share value of Dhs. 1/ be sold at Dhs. 16 (Arabtec). ...

However, it is interesting that for the last 8 years this your .. so called speculation retained it's position !

Come on .. face it .. of course you can deny and I am sure in the next 3 months you will be obliged to face it ... but keeping in mind similar likes as yours .. it will never happen. Comparing an accountant of Ittefaq Foundries with a # 2 of Citibank ! Hahaha .. they say comparing "bananas with bringles" !

QUOTE(vijaytripoli @ May 10 2008, 01:50 AM)
why don,t Pakistan take the help from china instead of usa or world bank because Pakistanis have good relation with china and won,t feel any problem with it!
chau

Ask GOP.

If there was an emergency...Pakistan should have asked for soft credit lines from China, Saudi Arabia, UAE, Qatar, etc and anyone else in return for favouable business conditions/preferences to their nationals.

Of course we can .. but who's got the time .. there are much more pressing matters like whitesheet, restoration of judges, ... all this Forex of 16 Billion ... who cares .. when we were the rulers we did not have a dime in the Forex but still we ruled ! 16 billion is like 16 billion worries .. lets loose it all ! Of course you do know that we can always get elected after loosing the position in another couple of years !

Indications are that some effort at soft credit did take place. the result is perhaps the $500m that china has promised and $400m from saudi arabia to tide over the crisis. but the problem is that world economy is on a tailspin and no country is going to escape it.

may be saira bajee forgets the reason as to WHY they fell over the last so many months?

could the reason have been regular marches down ther GT road, layers burning businesses, people looting food trucks, hangami soorat in karachi,....


if you use your comon sense to state WHY the forex went down and not under who you will realise it was because of the Hangami situation in Pakistan...and wyo was behind the situation???

did PML-Q just go out on streets? are they doing so right now? is musharaf in streets?

Lets not forget the 3billion dollar plus damage PPP goons did after BB's death. Nice way to mourn the death of your leader, destroy everything in sight.

jail the victim to protect the guilty




Who said that all shares or stock market activity is based on speculation ? Only day trading is based on speculation but the medium to long term term trends are usually dictated by fundamentals and technicals.

There were 2 MAJOR crashes in the last 8 year with one resulting in the loss of Rs 750 billion in one week. An American team of investigators was also flown in to do some fact finding given the seriousness of the situation and the oddity with which it crashed.





I never compared anybody, was just highlighting a trend. Secondly, alot of you indulge in selective reading, go back and read my original post. I did say ke NS/AZ will probably loot up and leave but as you have correctly pointed out, one would have to wait for a few months. The assertion of the original thread was wrong as there was little evidence to back it up just yet. That doesn't mean ke there wont be any evidence in the future as well, I am sure given enough time you will see ample evidence of NS/AZ's escapades.

Pointing who out that the evidence isn't there just yet makes one an NS/AZ supporter. Criticizing Musharraf makes one an NS/AZ supporter. I guess one should only indulge in, this is right or this is wrong debates here since it seems like a black and white world. Oh well ...

if Bhutto did not nationalise commerce and industry, Pakistans economy would have maintained the boom of the 60s and we would not be in a situation we are in now, we would be able to DO something about the israelis and indians...also if he did not litrally rip apart the polish resolution in the united nations with a full house present in 1971, which dictated that pakistan return to pre-election status (meaning before the war of 71, ie unpartitioned), then we would be a nation of 320 million not mere 160 million and the islamic world would still respect us as a khalifat...but the greed demonstrated by Z.A Bhutto in UN after the war has changed their opinion...

CFS rate, investment fall



By Our Staff Reporter


KARACHI, May 10: CFS investment and rate on the Karachi stock exchange last week fell from the recent higher levels as leverage investors kept to the sidelines in a falling market and did not opt for fresh financing.

While the investment figure fell by 3.6 per cent to Rs52.5 billion, the CFS rate was quoted lower by 49 basis points at 11.56 per cent, analyst Ayub Ansari of Invest Cap said.But on the other hand open interest on the futures counter in the ruling May settlements rose by 258 basis points at Rs24.9 billion, while future spreads posted a nominal fall of two basis points at 9.48 per cent.

Same old chutiyapa plan. Devalue your currency, and have an orgasm on how cheap your exports are going to be so that you can grab market share.

From 60 to a dollar few months ago to 68, inspite of $ getting weak by the day. A normal Pakistani has become poorer by about 10% as a result. Same old 90s plan. I dont think there is any way out unless some drastic measures are taken in the next few months. We are staring at default or being stuck in a vicious debt cycle starting 2009.

Institutes record figures in Dec 2006, some in July 2007 and some for Dec 2007.


Pakistan's economy grew by 100% --- to become $ 160 billion


http://www.dailytimes.com.pk/default.asp?p...5C27%5Cstory_...


www.pndpunjab.gov.pk/user_files/File/17th%20to%2023rd%20December.pdf


Ø Pakistan GDP Per Capita
1. http://www.indexmundi.com/pakistan/gdp_per_capita_(ppp).html
GDP - per capita (PPP): $2,600 (2006 est.) and now 2007 it's exceeded $3000.


2. http://ecpb2b.com/f_pakistan_profile.php
Gross Domestic Product (GDP)
GDP at PPP $475.5 billion (2007)
GDP at current exchange rates
GDP real growth rate (at PPP) 6.9% (2006 est.)
GDP growth rate 7% (2007 est.)
GDP per capita $3,004 (2007)
3. http://en.wikipedia.org/wiki/Economy_of_Pakistan
GDP at PPP: $504.3 bn (2008)
GDP real growth rate: 6.9% (2008)
GDP per Capita: $3320.12 (2008)


Ø Purchasing Power Parity (PPP)
IMF records for 2006: $ 475.550 bn
http://www.imf.org/external/pubs/ft/weo/20...rept.aspx?sy=...


Wikipedia records it as: $ 504.3 billion
http://en.wikipedia.org/wiki/Economy_of_Pakistan


Ø Revenue grew by 100% --- to become $ 11.4 billion
http://www.paktribune.com/news/index.shtml?156995



Adnan Cyprian <adnan.cypr...@gmail.com> wrote:


Afreen,

Thanks for sharing more disinfromaiton.


I am happy to know that that An average pakistanw as making Rs 10,000 per month in 1999 and now is he is making Rs 15,000 per month. This is the average pakistani. Yippee


Out Economy ad per the numbers give below is the size of US$ 160 billion. But the numebrs dont compute. The economy grew from 75 billion to 165 billion by a factor of 2.2 times while the GDP per capita grew by 1.5 times. Where did the extra money go!


If the paksitan economy is US$ 165 billion then the per capita income should be US$ 1,000 per head!


Please note that blindly pushing a lie is not going to make it the truth.


Can you share the soruces of these numbers.


On Sat, May 10, 2008 at 5:20 PM, Afreen Baig <afreenbaig...@yahoo.com> wrote:
We Love the Honorable President Musharraf !


Basic comparison of 1999 and 2007


Pak Economy in 1999 was: $ 75 billion
Pak Economy in 2007 is: $ 160 billion


GDP Purchasing Power Parity (PPP) in 1999: $ 270 billion
GDP Purchasing Power Parity (PPP) in 2007: $ 475.5 billion


GDP per Capita in 1999: $ 2,000
GDP per Capita in 2007: $ 3,004


Pak revenue collection 1999: Rs. 305 billion
Pak revenue collection 2007: Rs. 708 billion


Pak Foreign reserves in 1999: $ 700 million
Pak Foreign reserves in 2007: $ 17 billion


Pak Exports in 1999: $ 7.5 billion
Pak Exports in 2007: $ 18.5 billion


Textile Exports in 1999: $ 5.5 billion
Textile Exports in 2007: $ 11.2 billion


KHI stock exchange 1999: $ 5 billion at 700 points
KHI stock exchange 2007: $ 70 billion at 14,000 points


Foreign Direct Investment in 1999: $ 1 billion
Foreign Direct Investment in 2007: $ 8 billion


Debt servicing 1999: 65% of GDP
Debt servicing 2007: 26% of GDP


Poverty level in 1999: 34%
Poverty level in 2007: 24%


Literacy rate in 1999: 45%
Literacy rate in 2007: 53%


Pak Development programs 1999: Rs. 80 billion
Pak Development programs 2007: Rs. 520 billion


Under Musharraf's vision


· 9 world class Engineering universities being developed and 18 Public universities already developed.
· Public sector institutions have increased from 110,267 (in 1999) to become
· Private sector institutions have increased from 36,096 (in 1999) to become 81,103 (in 2006).
· PAK is 3rd best in world Banking profitability.
· PAK IT industry now values around $2 billion, including $1 billion exports and employs around 90,000 professionals.
· CNG sector has attracted over $70 billion investment in last 5 years; and created 45,000 jobs.
· Telecom sector attracted around $10 billion in investment and created above 1.3 million jobs.
· Industrial Parks are being setup throughout the country for the first time! M3 estate, Sunder industrial estate, Chakri, etc.
· Major Mega projects like the Saindak, Rekodiq, Marble production, Coal production and Mining & Quarrying are being pursued.
· In 2006, GDP growth is 6%. Earlier in 1999 was 3.5%.
· Foreign Reserves from $1 bn to $17 bn.
· KHI stock market: from 700 points to 13,000 points.
· Literacy rate improved by 11%.
· Poverty decreased by 10%.
· He made 4 dams: Mirani, Subakzai, Gomalzam, Khurram Tangi dams.
· 6 Motorways completed or under construction: M1, M3, M8, M9, M10, M11.
· Six major highways under construction.
· GWADAR advance mega Sea port developed under his vision!
· Historic 100% increase in Tax collection of $11 billion.
· Large scale manufacturing is 30 year high, and Construction activity is 17 year high.
· Newly found World class copper- gold deposits in Chagai will fetch $600 million per year.
· A new Oil refinery with UAE will fetch $5 billion & will process 300,000 oil barrels a day.
· Industrial sector registered 26% growth.
· PAK in 1999 was a $75 billion economy; and now 2006 it's $160 billion economy!
· PAK economy is now the 3rd fastest growing economy after China & India.


Education under Musharraf Era


In 1999-2000 there were 31 Public Universities. Now 2005-2006 there are 49 Public Universities. Under Musharraf 20 NEW UNIVERSITIES SET UP!


· Air University (established 2002)
· Institute of Space technology, ISB (established 2002)
· Sardar Bahadur Khan Women University, Quetta (established 2004)
· University of Science & Technology, Bannu (established 2005)
· University of Hazara (founded 2002)
· Malakand university, Chakdara (established 2002)
· Karakurum International university, Gilgit (established 2002)
· University of Gujrat (established 2004)
· Virtual University of Pak, Lahore (established 2002)
· Sarhad University of IT, Peshawar (established 2001)
· National Law University, ISB (2007)
· Media University, ISB (2007) etc.
· University of Education, Lahore (2002)
· Lasbella University of Marine Sciences, Baluchistan (2005)
· Baluchistan University of IT & Management, Quetta (2002), etc.


Pakistan now has a total of 245,682 Educational institutions in all categories, including 164,579 (i.e. 67 percent) in the Public sector and 81,103 (i.e. 100 percent) in the private sector, reports the National Education Census (NEC-2005). The census -- jointly conducted by the Ministry of Education, the Academy of Educational Planning and Management (AEPAM) and the Federal Bureau of Statistics (FBS) -- reveals that the number of private-sector institutions has increased from 36,096 in 1999-2000 to 81,103 in 2005, i.e. by 100 per cent.


Total 99,319 Educational Institutions (Public & Private) have increased in Musharraf Era!

Pakistan's foreign exchange reserves fall by $487 million



The country's liquid foreign exchange reserves have declined by 487 million dollars during the last week. The State Bank of Pakistan statistics show that total liquid forex reserves held by the country stood at 12.2071 billion dollars on May 10, 2008, as compared to 12.2558 billion dollars at the week ended on May 3, 2008.

Major decline was witnessed in the reserves held by the SBP, down by 788 million dollars to 9.8474 billion dollars during the last week as compared to 9.9262 billion dollars a week earlier. While the reserves held by banks increased by 301 million dollars to 2.3597 billion dollars from 2.3296 billion dollars.

Welcome to our beloved democratic heroes !

And this can't be because of everyone buying generators? (importing huge amount of stuff atm)

now that ganja is gone can the ruppee get stronger.

right now a pound is equal to 135 rupees.

if i want to take my money out my business im grounded.

Pak liquid foreign reserves figure $ 11,885.2 mln

KARACHI, May 22 (APP): Pakistan’s total liquid foreign reserves stand at 11,885.2 million dollars, says a statement issued by State Bank of Pakistan here on Thursday.

On May 17, 2008 foreign reserves held by SBP amounted 9,500.1 million dollars, whereas net foreign reserves held by banks other than SBP were 2,385.1 million dollars.

Love the democracy.


SPEEDY
enjoy

EVEN INDIA'S FOREX RESERVE IS GOING DOWN



http://in.reuters.com/article/domesticNews...I00141820080516



India's forex reserves at $312.50 bln on May 2

MUMBAI, May 9 (Reuters) - India's foreign exchange reserves
<INFXR=ECI> fell for a second week to $312.50 billion as on May
2, from $312.871 billion a week earlier, the central bank said
in its weekly statistical supplement on Friday.


The central bank said foreign currency assets, expressed in
dollar terms, included the effect of appreciation or
depreciation of other currencies held in its reserves such as
the euro, pound sterling and yen.............................................

India lost 300m according to ur calculation.

We've already lost $4bn.

Hey Mothy.. where do you live? Did you not learn that 300 is greater than 4? Man, I think that Mr. Dar thought the same way. So this make the bhangee land a bigger looser. What do you think?

Pakistan's foreign exchange reserves slide

KARACHI (June 07 2008): The country's foreign exchange reserves fell by $334 million to $11.178 billion in the week that ended on May 31, said the central bank. Reserves held by the State Bank of Pakistan fell to $8.684 billion from $9.061 billion a week earlier, while those held by commercial banks rose to $2.494 billion from $2.451 billion.

So in a nutshell since April 18 to June 8 the forex reserves have fallen from $16b billion to 11 billion. And we still no government in Isloo. I think that this is a game plan to sac Pakistan by economic subversion. Now that we are selling our lands to the Saudi government and the Saudis are controlled by the USA we will be directly under the whim of some foreign power. I also see that the Pakistan may loose its is nuclear fangs in the next decade or so because the NATO will force KSA to do so and as usual the Arabs will be more than happy to bend over for their masters.

Don't mean to de-rail the thread but india was in bigger mess in the early 90's, rajiv was kiiled and india was nearly totally bankrupt. Most people today credit the indian reform to current prime minister which was then newly appointed finance minister of county with $0 foreign reserve.So it can be all turned around with a right people(s) in charge.

Makes my blood boil!

PML-N, PPP, and MQM leaders can be put in these mass graves instead.

http://www.sbp.org.pk/ecodata/forex.pdf

Pakistan's forex reserves fall to $10.95 bln
Thu Jun 12, 2008 ISLAMABAD 4:30pm Reuters

June 12 (Reuters) - Pakistan's foreign reserves fell by $224 million to $10.954 billion in the week that ended on June 7, said the central bank.

Reserves held by the State Bank of Pakistan fell by $297 million to $8.387 billion, while those held by commercial banks rose to $2.567 billion from $2.494 billion.

Pakistan's foreign exchange reserves hit an all-time high of $16.486 billion on Oct. 31, 2007, but have fallen since then because of political uncertainty, beginning when President Pervez Musharraf imposed six weeks of emergency rule on Nov. 3.

Foreign investors remained cautious after the assassination of former prime minister Benazir Bhutto on Dec. 27.

While February elections were generally smooth, cracks have appeared in the new ruling coalition, while uncertainty about Musharraf's future lingers.

The central bank last month increased its key discount rate to 12.0 percent from 10.5 percent, to counter accelerating inflation and widening fiscal and current account deficits.

Central bank Governor Shamshad Akhtar said last month foreign inflows of up to $3.5 billion were expected in the short- to medium-term, most of it in the form of loans from multilateral lenders and friendly governments. (Reporting by Sahar Ahmed; Editing by Simon Cameron-Moore)

Reserves fall


The foreign exchange reserves held by the country fell by $224 million to $10.954 billion in the week ended on June 7, said the State Bank of Pakistan on Thursday.

Reserves held by the SBP fell by $297 million to $8.387 billion, while those held by commercial banks rose to $2.567 billion from $2.494 billion.

The reserves hit an all-time high of $16.486 billion on October 31, 2007, but have fallen since then because of political uncertainty.—Reuters

Forex reserves below $11bn
Friday, June 13, 2008
Daily Times. Pakistan Link

KARACHI: The foreign exchange reserves of the country fell below $11 billion mark during the week ended on June 7 2008, reflecting the widening current account and trade deficits.

The foreign reserves held by the State Bank stood at $8.386 billion while those with other banks stood at $2.566 billion. The total reserves stood at $10.953 billion. An extraordinarily large trade deficit, which created a huge current account deficit, has also weakened the rupee from Rs 60 against a dollar at the beginning of the current year to around Rs 68 now. staff report

http://www.sbp.org.pk/ecodata/forex.pdf

The economy is dropping like a lead balloon - new government has only been in for a few months and things are starting to look bad already

This is what happens when you put people in positions of power in the government not on merit and achievement but on relations and loyalty to the leader.

There is a lot of talk about democracy and independance of judicary but you only have to look into the past of some leaders to understand that it is all a big farce and that they are anti democratic themselves

Pakistan Forex Reserves For Week Ended July 19 At $10.72 Billion
Thu, Jul 24 2008, 11:32 GMT
http://www.djnewswires.com/eu

Pakistan Forex Reserves For Week Ended July 19 At $10.72 Billion

KARACHI-(Dow Jones)- Pakistan's foreign exchange reserves were marginally lower at $10.72 billion in the week ended July 19, compared with $10.83 billion the previous week, the State Bank of Pakistan said Thursday.

Foreign exchange reserves held by the central bank stood at $7.77 billion, compared with $7.95 billion in the previous week, while foreign exchange deposits held by banks were $2.95 billion, compared with $2.88 billion the previous week, the central bank said.

Foreign currency deposits held by banks are included in the calculation of the country's total reserves, which have fallen from a record $16.39 billion in early November.



http://www.sbp.org.pk/ecodata/forex.pdf


===========================

Pakistan foreign investment down by 38 per cent
Wednesday, 23 July 2008 00:00 www.daily.pk

Net inflow of foreign investment dropped by 38.4 per cent to $5.193 billion during the recently concluded fiscal year 2007-08, causing a gradual reduction in the country’s foreign exchange reserves and exerting immeasurable pressure on rupee-dollar parity.

Foreign investors not only reduced fresh investment but also dragged out a massive amount from equity trade amid uncertain political situation and deteriorating economic condition due to spiraling oil prices and commodity prices.

Although most major economies of the world are also facing adverse impacts of oil prices the resource constrained countries like Pakistan are facing the brunt of rising oil prices causing widening of trade and fiscal deficits and consequently stimulating inflation.

During July-June 2007-08 total foreign investment declined to $5.193 billion which was recorded $8.428 billion during fiscal 2006-07.

Latest statistics of State Bank of Pakistan (SBP) revealed that in FY08 foreign private investment stood at $5.172 billion against $6.960 billion in preceding fiscal year, whereas foreign direct investment was recorded at $5.153 billion against $5.140 billion of last year of which, privatisation proceeds were witnessed at $133.2 million as compared to $266.4 million of previous year.

During FY08 the massive outflow of 98.8 percent was recorded in portfolio investment which plunged to $19.3 million as compared to $1.824 billion in FY07.

Through Global Depository Receipts (GDRs) of UBL Bank brought an inflow of $90.5 million into country’s financial system in FY08 against $559.7 million of last fiscal year. In addition an amount of $106.5 million was brought into country through GDRs of Lucky Cement. In FY08 foreign public investment, which was mainly in portfolio declined to $20.8 million against $1.468 billion recoded in the pervious year.

From developed countries including Western Europe, Luxembourg, Denmark, France, Germany, Netherlands, Sweden, UK, other Western Europe Norway, Switzerland, North America Canada, USA other developed countries including Australia, Japan and unspecified countries dropped by 38.1 percent to $2.913 billion against $4.702 billion of previous fiscal year. However, from developing economies including Caribbean Islands, Cayman Island, Bahamas, other Caribbean countries, Africa, Libya, Egypt, Mauritius, South Africa, and other African Countries investment increased by 3.6 percent to $1.898 billion, which was recorded 1.831 billion in FY07.

From Asia including West Asia, Oman, Iran, Kuwait, Bahrain, Qatar, Saudi Arabia, Turkey, UAE the net flow of foreign investment recorded a slight increase of 2.1 percent to $1.722 billion as compared to $1.687 billion of last fiscal year. Similarly South East Asia countries including Bangladesh, China, Hong Kong, Malaysia, Singapore, India, South Korea, unspecified South East and South Asia slight surged by 0.8 percent to $836.6 million from $829.9 million of FY07.

MashAllah! This was part and parcel of voting for Asif Ghadaari and Nawaz Ganjaa's parties. The people of Pakistan made their choice in February. Now they will reap the fruit.

Pakistan plunges deeper into economic collapse by Pakistan People's Party
Thursday, 14 August 2008 19:40 www.daily.pk link

The free fall of key economic indicators continues unabated as Pak Rupee depreciated by Rs12.4 against US dollar and crossed Rs75, foreign reserves depleted by $3.64 billion and stock market tumbled by 5224 basis points during the tenure of the five month old elected government.

On August 13, 2008, Pakistan’s foreign currency reserves fell below $10 billion and touched $9.66 billion against $13.30 billion on March 31, 2008, registering a fall of $3.64 billion or 27.4 per cent in reserves in the last four and half months period of Gilani’s government.

In the period under review, overall inflation went up to 24.3 per cent, food inflation 33.8 per cent and non food inflation to 17.3 per cent till August 13, 2008.

“No power on earth can stop from approaching the IMF probably by September or October 2008,” a high-level official confirmed while talking and added that it was just matter of Finance Ministry’s decision when it decided to write an official letter to the IMF for seeking a ‘tough bailout package’.

Inflows of dollars, the official said, are desperately required to stop the free fall of rupee against the dollar. Panic in the market has also resulted into growing tendencies for currencies current swap as capital flight increases manifold, he added.

The sources said that they could visualize a tough economic situation for the masses under the IMF bailout package, when there would be no option to jack up POL as well as electricity prices in one go.

“We have conveyed this whole situation to Finance Minister, Syed Naveed Qamar but he also seems helpless before his party’s leadership,” sources commented and added that there was no focus on the economy, resulting in it inching towards the verge of collapse by every passing day.

According to official data, Pakistan’s foreign reserves stood at $15.8 billion on November 2007, which declined to $13.30 billion on March 31, 2008. On August 13, 2008, the hard earned foreign reserves dipped to $9.66 billion.

The exchange rate was Rs61.1 against the dollar on November 2007, which went up to Rs62.7 on March 31, 2008. On August 13, 2008, Pak Rupee touched its lowest and stood at Rs75.15 in inter bank rates against dollar and depreciated by Rs12.4 or 16.4 per cent in last five months.

Inflation of all types including overall CPI based inflation, food inflation, as well as non food inflation went up in the last five months. Overall inflation was 8.70 per cent by November 2007, which went up to 14.10 per cent on March 31, 2008. The inflation touched new heights and touched 24.3 per cent, food inflation jumped up from 20.60 per cent to 33.8 per cent and non food inflation from 9.40 per cent to 17.3 per cent for July 2008.

The Karachi Stock Exchange 100-Index stood at 15,126 basis points on March 31, 2008 which melted down to 9,902 basis points on August 13, 2008, registering a downfall of 5,224 basis points, which is equivalent to 34.5 per cent.

Stock market capitalisation was Rs4623 billion on March 31, 2008 when the Gilani government took over the reigns of power, which ended with a nosedive at Rs3100 billion on August 13, 2008, registering a fall of 32.9 per cent in five months.

The market capitalisation in terms of dollars stood at $73.70 billion on March 31, 2008, which went down to $41.28 billion on August 13, 2008, registering a fall of $32.4 billion or 44 per cent.

Pakistan's forex reserves falls to $9.9 billion
Fri Aug 15, 2008 8:07pm Link

KARACHI, Aug 15 (Reuters) - Pakistan's foreign reserves fell to $9.92 billion in the week that ended on Aug. 9, down 2.4 percent from $10.16 billion in the previous week, the central bank said on Friday.

Pakistan's central bank, the State Bank of Pakistan, said its reserves fell to $6.64 billion from $6.97 previously, while those held by commercial banks rose to $3.28 billion from $3.19 billion.

Pakistan's foreign reserves hit a record high of $16.5 billion in October last year but have since been depleted by high payments for oil imports, and foreign investors withdrawing money because of the country's political uncertainty.

Coalition government officials said on Friday Pakistan's President Pervez Musharraf is ready to resign rather than face impeachment but is seeking immunity from prosecution and agreement on a safe place to live. [ID:nSP267974]

Investors' fears that Pakistan's falling reserves will make it difficult for the country to pay for its imports has dragged on the Pakistan rupee <PKR=PK>, which hit another record low against the U.S. dollar on Friday. [ID:nISL309974] (Reporting by Koh Gui Qing; Editing by Robert Birsel)

© Thomson Reuters 2008 All rights reserved

and thats after they have recieved $5 billion USD in budget aid and offcourse donations from IMF and WB

this news is a psy op part of Economic terrorism.
zionist asset State bank and media are creating hysteria to save their bigger asset Parvez Musharaf.
look at its timing, your reaction, and this is exactly what they want.
I am not amazed on this down fall of reserves. I knew 5 years ago that this is bound to happen.
it is good that we have enough paper dollars to sustain a crisis. but we need to check our spending habits instead of crying over diminishing papers.

if mushy spends another 5 months in limbo, it will be 0. and he knows it.

So was it a part of the zionist conspiracy to increase foriegn reserves from $1 billion to $16 billion during the Musharraf era.

These zionist certainly work in mysterious ways

yes to some extent, flood of dollars from 2001 to 2007 around the globe was part of WOT/IRAQ war finance plot.
everyone built reserves, to buy oil in rainy days. we need to check our spending habits cuz its not over yet. meanwhile we quickly need to use these dollars to build dams, roads, Iran pipeline and coal infrastructure. (better stretegic assets instead of papers)
now they are taking dollars back by playing with gas and food prices. we need to be smart if we want to keep our buffer filled. its stupid to waste so long time just to replace a poodle like musharaf with another poodle Zardari. Although time will decide who is bigger poodle. so far I am convinced that Musharaf was bigger one.(he can still prove it, if Americans allow him to stay)

So was it a part of the zionist conspiracy to increase foriegn reserves from $1 billion to $16 billion during the Musharraf era.

These zionist certainly work in mysterious ways

Compliment this with development of JF-17, AK - Mk I, FC-20, Erieye, F-22P, Babur ...

So the zionist helped us build our reserves so that we could finance the building of dams and roads.

These zionists are certainly ruthless

well, USA needed money to fund the wars. countries collected the papers. Chinese collected 2 trillion, indians 200 billion and we were able to collect 15 billion.
dollar could have collapsed if they had to fight the war alone.
still, in real wealth figures, if Pakistan had gone for gold or other currencies or commodities, it was a better option.
like building a "strategic oil reserve" @ 20-30 dollars a barrel in 2002 could have been 10-15 times more valuable than 50% depriciated 15 billion dollar reserves in March 2008. does it make sense?

still can't find the conspiracy?

nope, they will drain the dollars for just enough oil for few months instead of building your roads. this will work in rest of world, but in country like Pakistan, they can just tap Musharaf to "hang on" for 3 more months to get rest of 9 billions to zero. or use this "draining dollar hysteria" to control zardari and Ganja.
what an economic terrorism.

I think I see what you are saying

So in 2002 Pakistan should have predicted that while everyone thought the ZIONISTS were about to spend $1 tirillion invading Iraq to ensure cheap oil for the future

The ZIONISTS actual plan was to economically develop CHINA because they knew that this would increase the demand ofr OIL. With the increase in the price of OIL they knew this would increase the revenue of their favourite allies the ARABS.

The ZIONIST long term plan is to economically develops and strenghten CHINA and ARAB Countries.
Why did Pakistan not realise in 2002 how much the ZIONIST love the Arabs and Chinese because we could have saved so much money by building these strategic reserves

frankly my dear, u r just 8itching around.
i still love to inform you, that they gambled on hope of quick win (mission accomplished in mid may).........not fighting forever what actually happened...

Schmuck - do you realise that schmuck is a Yiddish word, I think you must be a part of this ZIONIST conspiracy. Just joking

The Indians love to blame everything on ISI, while some Pakistani like to blame every problem on the ZIONISTS.

The fall in Pakistans foreign reserve ares not a part of a ZIONIST conspiracy, the causes are rather more simple and easy to understand

It was the fault of a total incompetence especially of ISHAQ DAR.

We can not blame the ZIONIST for the Pakistan people electing LOOTERS

Government wants Ishaq Dar back

The Pakistan Muslim League-Nawaz seems to have overlooked the interest of the country by deciding not to include Ishaq Dar amongst the four PML-N ministers who were to return in the federal cabinet following a recent agreement between the ruling coalition partners.

With the country's economy facing a sharp downslide, the PPP desperately wants Ishaq Dar to take charge of the finance ministry as things are not in control of the incumbent Finance Minister Naveed Qamar.

Ishaq Dar, though a reputed finance manager and a doer, is criticised for issuing some unnecessary statements after taking oath as the finance minister that were considered provocative by the business community.

A PML-N source claimed that the party leadership had decided to exclude all those who were or are part of the dialogue between the two political parties -- the PPP and the PML-N. He explained that since Ishaq Dar, Chaudhry Nisar Ali Khan and Khwaja Asif were the three main negotiators on behalf of the PML-N, so they were excluded from being returned to the cabinet. "It was discussed in the party that the return of such ministers would set the tongue wagging against them as if they were into the dialogue with the PPP to get back their lost cabinet berths," the source said.

However, this argument is contradicted by the fact that Ahsan Iqbal, who has been brought back to the cabinet, has also been part of the recent parleys between the PPP and the PML-N and is even included in the committee that is preparing the charge-sheet against President Musharraf.

Besides Ahsan Iqbal, Sardar Mehtab Ahmad Khan Abbasi, Khawaja Saad Rafiq and Rana Tanvir Hussain were returned despite the fact that the Zardari House resisted welcoming them and desperately wanted Ishaq Dar back. Khawaja Asif is another hot choice of Asif Ali Zardari.

Though the coalition partners positively agreed to impeach the president and get the judges restored as soon as General (retd) Musharraf was out of the presidency, the economic crisis has deepened with the Rupee on the fast rack of losing its value against the US dollar since the impeachment issue.

In such a situation, the Zardari House wants some mature finance managers so that the economic downslide could be arrested and reversed. Ishaq Dar, despite his some initial controversial statements, is considered the secure bet for the country's top finance manager. Dar, it is believed, is capable of delivering.

Some in the PML-N are of the view that in case Dar returns to the cabinet, he and the PML-N would be blamed for the financial mess. Independent observers, however, believe that instead of considering the interest of the party, there is a dire need to see the interest of Pakistan that badly requires a serious effort on the part of the government to improve its financial health on warfooting.

Even if the reputation of the PML-N is at risk, the Zardari House's demand for Ishaq Dar should be respected. However, for being the coalition partners, the PPP and the PML-N should share the burden of the government's failing.

The PML-N was not interested in the cabinet slots till the restoration of the judges but the PPP Co-chairman Asif Ali Zardari insisted that all the PML-N ministers should rejoin their slots. During their recent parleys, initially the PML-N offered only one minister but later agreed for four ministers. The remaining PML-N ministers, it was agreed between the two sides, would return to the cabinet after the restoration of the judges.

Prime Minister Yousuf Raza Gilani too misses the PML-N ministers and wants to see all of them back at the earliest to improve the performance of his government.

Schmuck rather than joking around like in my previous post I will explain why your statement makes no sense.

It might seem obvious NOW that if you had invested in oil, or commodities in 2002 you would have earned a health return on you investment. so the question must be why did EVERYONE in the world not invest in OIL in 2002.

We have look at the PRESENT to find the answer. No one is able to predict with 100% certainty what the price of OIL will be in 2013. So no government or individual (who has any sense) will invest their emtire wealth in OIL or any commodity (or currency) because they know that the prices of these can RISE and FALL.

Maybe by 2013 the price of OIL might have risen to £500 a barrel and everyone will be kicking themselve for not having bought oil in 2008 or the price of oil might have fallen to $40 a barrel and everyone who had bought oil would be kicking themselve for having bought this oil in 2008.

It is NOT a conspiracy that NO ONE can predict the future.

(So Schmuck in 2002 did you buy shares in oil companies or shares in mining companies, if you did not then you commited the same 'mistake' that you accuse the Pakistani government of doing, because you could have now been sitting on a vast fortune)