What does current inflation tell us about the future? Shabbar Zaidi's Analysis
Transcript
00:00 Sir, you talked about businessmen.
00:02 I have always heard that businessmen transfer their money from Pakistan to other countries.
00:07 They look at their own profit and they work according to that.
00:11 During the last government,
00:13 tell us why the Pakistan Aasic investment was not possible in 2019 when the MOU was signed with Saudi Arabia?
00:24 Listen to me, Mr. Kashif.
00:30 Have you ever heard a positive thing about Pakistan's economy from 2021 till now?
00:40 Never.
00:43 You should have done something.
00:44 From 2021 till now.
00:45 You should have done something.
00:47 No, no. Tell me if I have ever said something positive that Pakistan's economy will be fine.
00:55 This is not it. May Allah destroy my tongue.
01:00 But the question is that I can see that this economy is not going to be fine.
01:05 And I can see that this economy is going towards destruction.
01:09 So, I come to your program and sit down and say about a meeting that it has become very green.
01:16 Problems have been solved.
01:18 By building confidence, I should put people behind a new truck.
01:24 This will be a very wrong thing.
01:26 The thing is very simple.
01:27 You told me that this happened with Saudi Arabia and this happened.
01:31 What happens is that your border investment is made.
01:34 A new chairman of it came.
01:36 He has to show efficiency.
01:38 He goes and does a presentation that I am talking about this.
01:42 That so much investment should be done.
01:45 And by going to the meetings of such things, he does all these things and gives the message to the Pakistani people.
01:50 Sir, but at that time, the MOU was signed in 2019.
01:53 I just want to know after the MOU was signed, the Saudi minister came.
01:57 Sir, MOU means that we are thinking, we will do it and we will tell.
02:05 Now tell me one thing, answer me a question.
02:08 If I am a Saudi Arabian man and I am a Saudi investor, then which doctor has told me that I should invest in Pakistan as against India.
02:22 Pakistan's demand is decreasing, sir.
02:25 You are not understanding my request.
02:28 Pakistan is going towards economic destruction.
02:31 India is growing 6% economically.
02:34 So, should a person invest in an economy-growing country or an economy-declining country?
02:41 So, you are saying that the situation in 2019 or 2023 should not change.
02:46 If our economic conditions are not changing, then why will there be investment?
02:49 That's what you are saying.
02:51 It's a simple thing.
02:53 When your dollar is floating at Rs. 333 today and I am an investor of Saudi Arabia.
02:58 When I bring dollars, I will bring one dollar.
03:01 If God forbid, this dollar becomes 400, then I will have 80 cents left.
03:07 You understand this. You are not understanding simple things.
03:11 If in 2019, they would have brought 10 dollars, then today their dollar was 5 instead of 10.
03:17 So, who will be a fool who will make his 10 dollars 5 dollars today?
03:22 First, you should decide that Pakistan's dollar will be of how much in 2024, 2025, 2026, 2027, 2028.
03:32 Look, Saudi or UAE will not invest on the basis of your collective relations.
03:37 They will look at their commercial feasibility.
03:40 If they see that my dollar is falling consistently in the Pakistan rupee in the feasibility,
03:45 then they do not need to earn money in Pakistan.
03:49 So, Mr. Kashif, I just want to tell you to stop talking about this.
03:54 It's of no use.
03:56 You are just camouflaging the reality that is present in Pakistan today.
04:03 I am not talking about this hopelessness.
04:07 I am talking about the reality of Pakistan.
04:10 The listener will be hopeless.
04:12 I am talking about the reality of Pakistan.
04:17 I am talking about the reality of Pakistan.
04:22 I was talking to someone last night about investment in agriculture.
04:28 He said, look at the electricity of Pakistan, its fee unit,
04:32 the fertilizer price, it will not be viable if someone comes and invests in it.
04:42 So, there will be such reservations.
04:44 So, I am asking you a question.
04:48 Is he giving me money considering me an orphan or doing business?
04:52 He is giving you money considering you an orphan.
04:55 First, decide this.
04:56 If he is giving me money considering me an orphan, then it is different.
04:59 Sir, he is not giving you money considering you an orphan.
05:02 But, sir, this money exchange, for example, this dollar exchange.
05:04 You are right.
05:05 If he is giving you money considering you an orphan, then it is different.
05:08 But, if he is not giving you money considering you an orphan,
05:10 and if he is giving you money considering you doing business,
05:12 then Pakistan doesn't look like a very viable option.
05:14 It is not possible, sir.
05:16 But, we can make it.
05:18 I am saying this.
05:19 How, sir?
05:20 You didn't see my tweet today.
05:21 I am saying that we can make it.
05:23 We should at least prepare for making it.
05:25 Yesterday, when I was sitting with the businessmen,
05:29 when the Chief Army Staff announced that the markets will close at 6 pm,
05:34 the 500 rupee note will be closed,
05:36 the exchange companies will be closed tomorrow,
05:38 tomorrow, the cars of 2000cc will not run in Pakistan for 6 months,
05:43 then there will be confidence build-up.
05:44 Sitting here and saying that we met the businessmen,
05:48 developed confidence,
05:50 there will be an investment of 100 billion,
05:52 there will be no confidence build-up,
05:54 this is what I am trying to say.
05:56 You should see action.
05:58 You should see that you are going to do something constructive.
06:02 If you say that the 5000 note is going to be closed,
06:06 which I was saying for two years,
06:08 today I can see that someone from the Minister of Treasury is saying that the 5000 note is being closed.
06:13 You should stop dollarization in the market.
06:15 Close the exchange companies.
06:17 They are saying that they will regulate.
06:19 This is useless. Close it.
06:21 And move forward.
06:23 Close the 2000cc car.
06:25 Close the market at 6 pm.
06:27 This will be the confidence building of Pakistan.
06:29 By saying that I have signed MOUs of 2,300 billion,
06:34 I have come up with FDI for the next two refineries,
06:38 FDI will come.
06:40 For two refineries, 10 billion dollars will come,
06:42 out of that 9 billion dollars of machinery will come.
06:44 I have only 1 billion dollars in debt.