Islamic Republic of Pakistan : News, Discussions & Updates

RISING SUN

Well-Known member
Joined
Dec 3, 2017
Messages
1,261
Reactions
799 22 0
Pakistan’s Export Suffers Massive Decline with Afghanistan; India Wins Big Time
Pakistan’s export to Afganistan has dwindled by 41.57%. While Afghanistan’s export in comparison with Pakistan’s export jumped to $1.4 billion in 2018-19 from $2.6 billion in 2010-11 showing how fast Pakistan is losing its one and only captive market.

Pakistan ’s captive market has massively shifted to Iran and India mainly on account of the frequent closures of trade borders between Pakistan and Afghanistan and intensifying diplomatic tensions.

According to the latest trade data of Islamic Republic of Iran Customs Administration, Iran’s exports to Afghanistan have increased to $2.8 billion and out of which in first ten months the financial year of Iran the exports to Afghanistan have climbed to $2 billion as of June 20, 2019. However, “Iranian exports to Afghanistan in 2011 stood at $1.88 billion which now has risen to $2.88 billion with the increment of $1 billion in exports”, says UN COMTRADE database on international trade.

Presently Iran holds 22% share ($2.5 billion) of Afghanistan’s $11.5 billion consumer market. Pakistan’s export which once in 2010-11 stood at $2.6 billion has declined to $1.4 billion revealing the bitter fact that Iran has taken away the Pakistan captive market to a large extent. The official said that closure of trade borders between Pakistan and Afghanistan in the wake of terror activities in Pakistan has provided the opportunity to Iran to make inroads in Afghanistan market.

At Indo-Afghanistan trade, the official said, “In 2010, the exports from India to Afghanistan stood at just $115.6 million and the trade between the two states is also growing up which currently stands at $1 billion out of which India’s exports to Afghanistan stand at $873 million showing that the export from India has increased by 65%.

However, both the countries have shown the commitment to grow the trade between them up to $2 billion by 2020. Currently, India is trading with Afghanistan through Chabahar port in Iran and two air cargo routes linking New Delhi and Mumbai to Kabul”.

The senior official at commerce ministry said: “Pakistan’s exports to Afghanistan came across a mammoth decline due to the decrease in aggregate demand as a result of the withdrawal of NATO forces from Afghanistan, increasing trust deficit, worsening law and order situation, frequent closures of the Pak-Afghan border and diversion of Afghan trade to Iran”.

Afghanistan which is a landlocked country has diversified its import regime and started importing items from other neighbouring countries reducing the import reliance on Pakistan because of the rise in trust deficit.

Recently, Prime Minister Imran Khan has directed the relevant authorities to make necessary arrangements for keeping the Torkham border crossing between Pakistan and Afghanistan operational to boost bilateral trade ties between the two countries.

According to the details, Pakistan exported the items valuing $1.271 billion to Afghanistan in 2016-17 as compared to exports of worth $2.6 billion in 2011-12. However, the bilateral trade was in 2011-12 at $2.6 billion which has now compressed to just $1.4 billion.

Interestingly, the imports from Afghanistan have grown up to $414 million which stood at $199 million in 2011-12 whereas Pakistan exports have dwindled by 41.57%.
Pakistan's Export Suffers Massive Decline with Afghanistan; India Wins Big Time | EurAsian Times: Latest Asian, Middle-East, EurAsian, Indian News
 

RISING SUN

Well-Known member
Joined
Dec 3, 2017
Messages
1,261
Reactions
799 22 0
Pak captive market of Afghanistan glides to Iran, India
Pakistan has virtually sustained mammoth blow in exports to Afghanistan by 41.57 percent, unfolds the latest data available to The News.

The exports to Afghanistan has drastically tumbled to just $1.4 billion in 2018-19 from $2.6 billion in 2010-11 showing how fast Pakistan is losing its one and only captive market from its influence.

Pakistan’s this captive market has massively slipped to Iran and India mainly on account of the frequent closures of trade borders between Pakistan and Afghanistan and escalating diplomatic tensions.

However, year on year basis, according to the latest trade data of Islamic Republic of Iran Customs Administration, Iran’s exports to Afghanistan have increased to $2.8 billion and out of which in first ten months financial year of Iran the exports to Afghanistan have climbed to $2 billion as of June 20, 2019. However, Iranian exports to Afghanistan in 2011 stood at $1.88 billion which now has risen to whooping $2.88 billion with surge of $1 billion in exports, says UN COMTRADE database on international trade.

And currently Iran holds 22 percent share ($2.5 billion) of Afghanistan’s $11.5 billion consumer market. Pakistan’s export which once in 2010-11 stood at $2.6 billion has alarmingly decreased to $1.4 billion showing the bitter fact that Iran has snatched the Pakistan captive market to a large extent. The official said that closure of trade borders between Pakistan and Afghanistan in the wake of terror activities in Pakistan has provided the opportunity to Iran to make inroads in Afghanistan market. “The diplomatic tensions between the two countries have also forced landlocked country to diversify its import regime.”

“If we look at Indo-Afghanistan trade,” the official said, “In 2010, the exports from India to Afghanistan stood at just $115.6 million and the trade between the two states is also growing up which currently stands at $1 billion out of which India’s exports to Afghanistan stand at $873 million showing that the export from India has increased by 655 percent. However, both the countries have shown the commitment to grow the trade between them up to $2 billion by 2020. Currently India is trading with Afghanistan through Chabahar port in Iran and two air cargo routes linking New Delhi and Mambai to Kabul.

The senior official at commerce ministry said that Pakistan’s exports to Afghanistan witnessed a mammoth decline due to the decrease in aggregate demand as a result of withdrawal of Nato forces from Afghanistan, increasing trust deficit, worsening law and order situation, frequent closures of the Pak-Afghan border and diversion of Afghan trade to Iran. More importantly Afghanistan which is a landlocked country has diversified its import regime and started importing items from other neighbouring countries reducing the import reliance on Pakistan because of the rise in trust deficit.

Prime Minister Imran Khan has recently directed the relevant authorities to make necessary arrangements for keeping the Torkham border crossing between Pakistan and Afghanistan operational round the clock within next 6 months to boost bilateral trade ties between the two countries.

According to the details, Pakistan exported the items valuing $1.271 billion to Afghanistan in 2016-17 as compared to exports of worth $2.6 billion in 2011-12. However, the bilateral trade was in 2011-12 at $2.6 billion which has now squeezed to just $1.4 billion.

Interestingly, the imports from Afghanistan have grown up to $414 million which stood at $199 million in 2011-12 whereas Pakistan exports have dwindled by 41.57 percent.

Pakistan often exports cereals and cereal preparations (wheat & wheat flour), raw sugar and refine rice, cement, petroleum products such as kerosene type jet fuel other than JP-1 and JP-4, potatoes other than seeds, vegetables and vegetable preparations, medical and pharmaceutical products, edible brassicas other than cauliflowers. Kabul administration is heavily under the influence of India and has started importing items from other countries despite the fact that the cost of importing from Pakistan is much less than that the importing cost from other neighbouring countries, but Afghanistan has done this reducing the reliance on Pakistan.

As far as the document unfolds, the progress on trilateral transit trade among Pakistan, Afghanistan and Tajikistan is concerned, Kabul administration has emerged as stumbling block in the way of the finalisation of the accord. Kabul wants to link it with trade with India through Wagha boarder. Kabul also wants to include in the trilateral transit trade agreement. Pakistan deems the demand of Kabul unjustified as the trilateral transit agreement will become the quadrilateral accord.

Afghanistan further, the document divulges, wanted the market access to India and Saarc countries through Wagha border and to open Wagha border for Indian goods to reach Afghanistan. Pakistan says that inclusion of India in the proposed agreement will altogether change contours of the agreement and scope by providing direct land link with Afghanistan and to rest of Central Asian States and even beyond eroding Pakistan’s commercial and strategic competitiveness in the region.
Pak captive market of Afghanistan glides to Iran, India
 

RISING SUN

Well-Known member
Joined
Dec 3, 2017
Messages
1,261
Reactions
799 22 0
S&P downgrades Pakistan's long-term credit rating to 'B-'
Standard and Poor’s (S&P) – one of top three global rating agencies – has downgraded Pakistan’s long-term sovereign credit rating just after the country launched five-year dollar-denominated Diaspora bonds last week.
“We are lowering our long-term sovereign credit rating on Pakistan to ‘B-‘ from ‘B’ on the diminished growth prospects as well as elevated external and fiscal stresses,” the rating agency said on Monday.

“At the same time, we are affirming our ‘B’ for short-term sovereign rating,” it said.

Pakistan’s economic outlook, as well as its external position, has deteriorated well beyond S&P’s previous expectations.

“With the weaker economic settings, and limited progress in addressing fiscal imbalances following elections in mid-2018, we believe prospects for a rapid recovery in fiscal and external settings are now diminished,” the ratings agency stated.

More modest growth prospects and limited reserve buffers will continue to challenge the country’s external position, even as the government receives financial aid from various partners.

“Negotiations with the International Monetary Fund (IMF) have taken longer than anticipated, and we now believe the reform timeline will be more protracted in nature.”

Global bond and equity investors track ratings by big international agencies to take decision on investing in such markets.

Prime Minister Imran Khan last week launched five-year dollar-denominated Diaspora bonds, Pakistan Banao Certificates, at an interest rate of 6.75%.

Besides, the country was also determined to float Eurobond and Sukuk – Islamic bonds – in the near future to bridge foreign financing gaps.

S&P stated, “The outlook for the long-term rating is stable…We also lowered the long-term issue rating on senior unsecured debt and Sukuk trust certificates to ‘B-‘ from ‘B’.”

It said the government led by the Pakistan Tehreek-e-Insaf (PTI) party had yet to introduce fiscal measures that were sufficient to bring about a substantial improvement in the general government deficit.

Though the government in October 2018 introduced new budget measures that would increase revenue from petroleum products and infrastructure development, among others, “we believe that additional measures would be necessary in order to bring about a more meaningful decline in the fiscal deficit.”

The second mini-budget presented in January 2019 should be marginally supportive of the economy, but is unlikely to have a significant impact on fiscal imbalances.

“Relative to our previous expectations, we now believe prospects for a broader stabilisation of Pakistan’s credit metrics have diminished,” S&P said.

The ratings on Pakistan remained constrained by a narrow tax base and domestic and external security risks, which continued to be high, it said, adding the country’s security situation had gradually improved over recent years.

“We have revised downward our forecast of annual real GDP growth to an average 3.6% over 2019-2022. Pakistan’s per capita GDP growth is somewhat lower, at about 1.5%, due to a fast-growing population,” it said.
S&P downgrades Pakistan's long-term credit rating to 'B-' | The Express Tribune
 

BMD

Well-Known member
Joined
Dec 4, 2017
Messages
3,789
Reactions
672 569 0
India rebuffs Pakistan PM's bomb attack inquiry offer

India rebuffs Pakistan PM's bomb attack inquiry offer


AFPFebruary 19, 2019



India's foreign ministry says Pakistan's demand for "actionable evidence" of its culpability in last week's bombing is a "lame excuse" for inaction (AFP Photo/AAMIR QURESHI)

More
India on Tuesday demanded that rival Pakistan take "credible and visible action" over a major suicide attack in Kashmir as it sternly rebuffed Prime Minister Imran Khan's offer to investigate the bombing.

Amid a new spike in tensions between the nuclear-armed neighbours, Khan earlier demanded that India give "actionable evidence" to back its claim of Pakistan's backing for the suicide bomber.

While offering an investigation, Khan also said Pakistan would retaliate if attacked over the bombing, claimed by a Pakistan-based group, which killed at least 41 Indian paramilitaries.

"The prime minister of Pakistan has offered to investigate the matter if India provides proof. This is a lame excuse," said an Indian foreign ministry statement.

"We demand Pakistan to stop misleading the international community and take credible and visible action against the perpetrators of Pulwama terrorist attack."

Since last Thursday's attack on the military convoy in the Pulwama district of Kashmir, Indian forces have launched widespread operations against Jaish-e-Mohammed (JeM), which claimed responsibility for the bombing.

Three JeM leaders, four Indian soldiers and a civilian were killed in a gun battle Monday, according to Indian officials. The Indian military has said the bombing was "masterminded" by Pakistan's Inter-Services Intelligence branch.

Pakistan has denied any role in the attack and in a nationally televised address, Khan said that if his country was attacked "Pakistan won't just think to retaliate. Pakistan will retaliate."

- Election boost -

Thousands have marched in Indian cities in recent days to pay homage to the dead and demanding a firm government response.

The Indian government has already withdrawn trade privileges for Pakistan, ended police protection for four Kashmiri separatist leaders, and halted some cross-border services.

Khan said his Indian counterpart, Prime Minister Narendra Modi, would get a boost in a looming national election if New Delhi staged an attack on Pakistan.

It was "easy to start a war", Khan said, while expressing hope that "better sense will prevail".

Khan said that if any militant group was using Pakistani soil to launch attacks, "its enmity is with us. This is against our interest".

Kashmir has been split between India and Pakistan since independence from Britain in 1947 and has been a constant source of trouble since. Both countries claim the former Himalayan kingdom in full and have fought two wars over it.

Tens of thousands of people, mainly civilians, have died since an armed uprising erupted in 1989.

India has long accused Pakistan of harbouring militants who launch attacks on its soil, including banned groups such as JeM and Lashkar-e-Taiba, blamed for carrying out the 2008 Mumbai attacks which left scores dead.

Pakistan was also accused by Iran last week of sheltering the perpetrators of an attack which killed 27 Revolutionary Guards, while Kabul and Washington have long claimed that Islamabad offers safe haven to the Afghan Taliban.

Pakistan's Foreign Minister Shah Mahmood Qureshi pleaded on Tuesday with UN Secretary General Antonio Guterres to intervene in the escalating row.

"The United Nations must step in to defuse tensions," wrote Qureshi in a message shared with journalists.

On Monday Saudi Arabia vowed to "de-escalate" the situation during a high-profile state visit by Crown Prince Mohammed bin Salman to Islamabad. He was to arrive in India late Tuesday.

Pakistan's ambassador to Afghanistan warned that any Indian action against its neighbour could disrupt peace talks with the Taliban.

Pakistan is "playing a very important role" in the months-long push led by the US for talks between the Taliban and the Afghan government, said Zahid Nasrullah.
 

BlackOpsIndia

Well-Known member
Team StratFront
Joined
Dec 1, 2017
Messages
1,173
Location
Local Host
Reactions
1,593 393 0

RATHORE

Lion of Rajputana
Joined
Dec 2, 2017
Messages
1,457
Location
USA
Reactions
1,763 623 0
This slow killings should increase in magnitude, when mid double digits die every few days Pakistan will regret using terror. Hope BLA is funded by well wishers of world.
We ought to start backing them to the hilt, including giving them Russian shoulder fired SAMs (good luck proving it was India, and not Iran, Afghanistan, or random Arms dealers with surplus Russian weapons).

SAM's would be a game changer against the Pakee helicopters and fighter jets.
 

BlackOpsIndia

Well-Known member
Team StratFront
Joined
Dec 1, 2017
Messages
1,173
Location
Local Host
Reactions
1,593 393 0
We ought to start backing them to the hilt, including giving them Russian shoulder fired SAMs (good luck proving it was India, and not Iran, Afghanistan, or random Arms dealers with surplus Russian weapons).

SAM's would be a game changer against the Pakee helicopters and fighter jets.
SAM is not needed and any errors from them will create a global crisis like Malaysian civilian getting shot. Better infantry weapons like Carl Gustaf, anti tank mines, mines, rocket launchers is better weapon of choice and is very effective.
 

BMD

Well-Known member
Joined
Dec 4, 2017
Messages
3,789
Reactions
672 569 0
Pakistan accuses India of launching strike across Kashmir border

Pakistan accuses India of launching strike across Kashmir border

AFP
February 26, 2019

Photograph released by Pakistan's Inter Services Public Relations shows damage in hilly terrain in the Balakot area where Pakistan said Indian planes briefly violated its airspace (AFP Photo/HANDOUT)
More
Islamabad (AFP) - Pakistan said Tuesday that Indian warplanes crossed into its airspace over the ceasefire line in Kashmir and dropped payloads, after tensions spiked between the nuclear-armed neighbours over the disputed region.
"Indian Air Force violated Line of Control," Pakistan military spokesman Major General Asif Ghafoor tweeted, referring to the de facto border between Indian- and Pakistani-administered Kashmir.
Pakistan Air Force jets were scrambled in response to the incursion, Ghafoor said.
"Facing timely and effective response from Pakistan Air Force (the Indian aircraft) released payload in haste while escaping near Balakot. No casualties or damage."
He did not provide further information on the location, and whether it was a town of that name in Pakistani-administered Kashmir or further into its territory.
Ghafoor tweeted images of what he said was the payload, showing what appeared to be pieces of metal in a heavily forested area.
There was no immediate comment from New Delhi.
However, Indian news reports said that air force jets hit multiple targets including camps run by Jaish-e-Mohammad, the Islamist group that claimed the February 14 suicide attack in Kashmir that sent tensions soaring.
"Top government sources said that there were nearly 200 casualties from the (Indian Air Force) strike," private broadcaster CNN News 18 said.
New Delhi had threatened to retaliate after the deadliest attack in three decades in Kashmir killed more than 40 Indian paramilitaries.
Islamabad has said it had nothing to do with the attack, and warned it will retaliate if India launches any strike.
JeM is one of several anti-Indian groups fighting in Kashmir, which has been claimed by both India and Pakistan since independence in 1947.
They have fought two of their three wars over the Himalayan territory.
Pakistan's interior ministry announced last week that authorities had seized control of a complex believed to be the JeM headquarters.