One thing that would have been unexpected a few months ago would have been that the same week a Rs 30 hike in petrol prices was announced, the greatest outrage for the people of Twitteristan would have been chocolates held back by customs. But that was the case last week, when people were in fact relieved that fuel prices were increased and that the country was not hurtling towards default as it was up until recently. Let us hope this little episode allows people to no longer politicize petrol prices which are a result of international market dynamics that we do not have much to do with. Fingers crossed. All this and more in this week’s social media roundup.
Have been working actively with @MiftahIsmail and his team to ensure relief for the vulnerable communities in light of this inevitable step. We will use the BISP data (NSER) to identify and target poorest of the poor for assistance. PM @CMShehbaz will soon announce it. https://t.co/vnG3Fa57GY
— Shazia Atta Marri (@ShaziaAttaMarri) May 27, 2022
If you think increasing fuel prices was a difficult decision, deciding how to help the income segment most impacted by the 20% rise in fuel prices. The government needs to act fast before inflation hits and purchasing power is wiped out.
I want you to note everyone who writes "petrol bomb" in their tweets etc. today. These are the people you need to be wary of. I'd reccomend straight out blocking them because they have no credibility.
— AK (@AzamAKhan2) May 26, 2022
Commodity price hikes are not bombs especially when they’re not out of choice. Fuel prices shouldn’t even be up for debate. They should be deregulated. There should also be public transport so that people aren’t impacted severely when prices rise.
Good to know that everyone is pro-smuggling here.
P.S. there should be no bans, and no market distortions, no matter whoever your supreme leader is..
— Ammar Khan (@rogueonomist) May 24, 2022
If you’re annoyed your khaipiya was held back at customs, just know he was held back for smuggling. But yeah, bans create grey economies. In a country where the informal economy is roughly as big as the documented one, why create more distortions?
What I conclude:
1) The #import substitution argument to save #dollars is weak.
2) As I learned from @ashraf179, no forex saving, but foregone revenue: duties on parts are lower than on the final product.
3) There may be a job gain, but limited.
#funfact #trade #mobiles— Gonzalo Varela (@gonwei) May 24, 2022
Do you need anymore reasons to understand why banistan isn’t the right state of mind to be in.
And this is why you should have two factor authentication using Google Authenticator App which should itself need a code to get into – Also why you need to be enrolled in Google's advanced protection program using physical security keys. https://t.co/JLzMKc9tMD
— Habibullah Khan (@Huk06) May 27, 2022
Digital safety is as important as physical safety in today’s day in age. The existing government officials and former officials need to ensure they are safe online.
1 crore (10 mil) individuals donating 1,000 #Pakistani Rupees each will raise just US$50 million. Pakistan is asking for a much larger bailout from the @IMFNews. These donation gimmicks, like the Hydel-dam fund, do not help. Pakistan must grow its economy & tax base.
— Murtaza Haider (@regionomics) May 27, 2022
Can we stop with the crowdsourcing? Wake up everyone.
Let’s stop using the word “bomb” for doing the right thing in country’s interest. You know what would have been a bomb? Sovereign default when we couldn’t pay for fuel from the international markets anymore. Now let’s subsidize those who deserve a subsidy. https://t.co/NGIjMV5txZ
— Gulraiz (@gulraizkhan) May 26, 2022
Repetitive but let’s bomb the term petrol bomb.
Pakistan has many options to import Russian Crude – IF IT WANTS (as refined fuels are covered in above)
No Pakistan PSU will import, the crude – as it may face sanctions
So – only a Private refiner, will import
Next Problem is payment.With the Moody’s love note,Pakistan Bank LCs may need to be confirmed by US/EU/Asian banks
No US/EU bank will confirm a Habib LC to import Russian Crude.Even if CCB or Bank of China in HK or Singa or Shanghai confirms the LC – the US/EU might block the ship in high seas.
Even if the flag is Chinese – the US Navy might block it – as the consignor is Russia,and Consignee Is Pakistan – and PRC is not involved.
In any case,US/EU Banks will use SWIFT – which can choke off the LC any time
SOLUTION
Use a Chinese SOE Commodity trader,to import the Russian Crude – so the consignee is PRC – and so,no NATO SHIP will block the ship.It will carry Chinese Flags.
On the High Seas,the Chinese Consignee,will sell the cargo on high seas,to Pakistan.
Now the Payment.Habib bank will issue a Transferable and Divisible LC to the Chinese trader – who will transfer it to Russia.The LC will be in YUAN ! Russia will get YUAN,via CIPS,and the LC will be retired or negotiated in China,in Yuan,and so,Pakistan will remit Yuan – so no impact on USD/PKR.
RUSSIA NEEDS YUAN – AS CHINA IS THE ONLY NATION,WHICH CAN STAND UP TO THE US/EU,AND SUPPLY ARMS,ORDINANCE,FOOD,PHARMA,SEMICONDUCTORS,RARE EARTHS ETC. TO RUSSIA – IN THESE TIMES.SO RUSSIA HAS AN IMMEDIATE USE,FOR THE YUAN !
IT IS A WIN-WIN-WIN FOR PAKISTAN-RUSSIA AND CHINA !
OIL HAS CEMENTED PAKISTAN-RUSSIA AND CHINA ! dindooohindoo
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