SBP responds to concerns about the economy and fake news - SBP Podcast Exclusive Episode 05
Вставка
- Опубліковано 12 жов 2024
- #SBP responds to concerns over economy and fake news in an exclusive #SBPPodcast. Governor (A) Dr Murtaza Syed and DGs Dr Inayat Hussain and Ms Sima Kamil answer questions about IMF, reserves, exchange rate, appointment of Governor and MPMG.
Host: Chief Spokesperson SBP, Mr. Abid Qamar,
Guests:
Governor (A) SBP, Dr. Murtaza Syed
Deputy Governor, Dr. Inayat Hussain
Deputy Governor, Ms. Sima Kamil
Venue: State Bank of Pakistan
Date: 22-07-2022
DISCLAIMER: SBP is providing this podcast as a public service to educate the public about current economic issues and market trends, but it is neither a legal interpretation nor a policy statement of SBP. Reference to any specific product or entity does not constitute an endorsement or recommendation by SBP. The views expressed by participants are entirely their own and the views and opinions expressed by SBP employees are those of the employees and do not necessarily reflect the view of the SBP or any of its officials. SBP does not accept any liability in respect of the material shared in this podcast.
These should be done regularly to strengthen the confidence level of masses
I very much appreciate the SBP in making this effort to communicate the true picture of the economy with the markets and public. I would humbly make one recommendation that these videos include English subtitles for the benefit of foreign investors who are also eagerly looking for such guidance on the Pakistan Economy.
Thank u SBP. Please restore MPMG. Please understand i have paid token money of 2.5M which is my total earned money till my age. Please restore urgently. Otherwise i will face total loss of earnings of my life. Please
Why is the governor comparing pakistan to countries like Ghana and Zambia? I thought our competitors were countries like Bangladesh and India. Maybe now we are also on par with African countries. Kudos to all our kleptocrats aswell as 'neutrals'
o bhai aqal hoti toh dekh lete ke agay Turkey, Egypt aur tunisia ke sath bhi compare kiya hia. Youthias and Imrandos ki aqal truly ghutno mein hoti hai
@@saadwaheed465 why are you trying to give credit to Nawaz league for the appointment of governor state Bank as he was chosen by IK government as a deputy governor and after the retirement of former governor/ Dr.Raza Baqir, Dr.Murtaza Syed was the most likely candidate on the basis of seniority.
So please check your facts before making any false conclusions.
Also don't you know the governor himself admitted that Pakistan's economy was heading in the right direction under IK'S reign!
@@saadwaheed465 oo bhai tm patwario ki to aqal hote bhi nahi nai ghutno ko to choro tum.
Kyu ki hmari aukaat hi whi h kya kre ab !!
@@saadwaheed465 the world is saying pakistan's economy is in real deep crisis and will remain so for the next few years and here this governor says everything be alright,and yet idiots like you will say 'Yes sir'
Love it for the first time as a commoner with no economics background I learned with great clarity exact fiscal landscape. Keep on good work in keep citizen well informed.
Very soothing and informative. Such dialogues should be held more often. Remember this is from SBP and not from the political govt so they only have explained the situation with relation to SBP concerns.
L/C's issue is not only with oil and gas but regular imports per bhi LC nahi khul rahi
This is the stuff that all political party leaders, irrespective of their affiliation, should be tweeting and promoting. Communication is the key. Excellent podcast, Well done.
Why importers couldn't buy dollars normally ?, Why banks ask them to report imports 24 hours before? , why banks don't close rates near to exchange rates why banks keep margins of 3-6 rs/$ ?, why banks don't entertain payments other than LC payments? If there is any rule than why it was not informed to the importers before ? Please clarify these things also.
And this is a good initiative and slap on the faces who want to let down Pakistan in this critical situation.
Very helpful and ellaborative briefing by the senior management of SBP. This should be a regular feature for holding the podcast update for public consumption. Thanks a lot.
podcast is a good iniative by SBP. Well done and thank you. There is nervousness in the market, and 1some of the answers should have been more specific- when does IMF board meet to consider our loan- August is 31 days and every day is taking its toll. Also, time frame from Board approval to disbursement. Also, what is a comfortable level of reserves these days. Finally, will be get out of the debt trap after this IMF program, or will we be borrowers in perpetuity. Thank you again.
Dear sir,
Please issue circular for restore MPMG house loan scheme please do the needful ASAP. Humre agreement cancel ho rahe hai next week. So please issue notification to bank's. Please save 🙏 us
A good broadcast, I hope people who are knowingly or unknowingly spreading false news, must stop it, if they really want good for the country.
Very good effort, conducted in a very professional manner. In the next session if worthy members can clarify the impact of imports due cpec on our economy
We will launch podcast to counter the befooling of nation.
Commenable and informative initiative taken by SBP to pacify the heat of uncertainity in the country.
It is a good information to share with public.
It is highly advisable to relay this on yhe National TV, to strengthen the confidence of people.
It is very informative and initiative taken by SBP is appreciated it will kill rumours about financial decisions which hamper economic activities. Hope this initiative will remain continue for public and businesses awareness.
Dear thank you for very nice positive talk I am EU national and came from Europe to serve Pakistan and supporting my family from Pakistan but I am very helpless and day by day my salary decreases as Dollar increases... On the other hand internal departmental politics discourage me inorder of my promotion and also force me to the leave the country.. what shall I do In this circumstances after 13 years service . No body helping me as overseas.i have approved home loan apna Ghar..that program is also onhold. In four months my salary decreases to 600 US dollar. Still I have a very positive approach to help Pakistan.. please guide me or help me in this regards... Thanks in Advance
Allah SWT always Bless you and your family with health and happiness. In Shaa Allah these times will also pass with honour and dignity. Aameen Ya Rab ul Aalameen
Bhaijaan aapne bohot bdi galti kardi isss time Pakistan m aane k koi fayda nhi h bohot bura halaat h Europe m jao achi standard of living se rho aur paise kmao!! Allah ne ek hi zindagi di h use achee se jeelo
Please let the nation know the terms imposed by IMF.
Plz notify ASAP MPMG scheme for those who have paid Bayanas..we are being blackmailed by the owners 😐
I would like to bring into the knowledge of Mr. Miftah Ismael, Minister Finance, and Ms. Sema Kamil, Dy. Governor of State Bank, that property owners are not bound to the MPMG scheme, and would not be agreeing on giving grace time. And why would they?. As the arrangement reaches its maturity, they have every right to sell their property. Which part of this you don't understand?
What did the Finance Minister mean when he claimed he wouldn't let the people's Bayanas drown? Will he arrest the property owners? Who committed no wrongdoing.
So, if you truly care about people's Bayanas, please open it today. Issue a notification for at least those who are suffering
She is a bit vague. Can't bind people.
Unfortunate to hear this podcast, .. belt tightening, friendly loans....IMF being portrayed as a panacea. I was expecting a fact based reality check like Atif Mian to tell where we really are and how serious is the crisis. PKR hitting 248 for a few LC requests in banks. Come on guys, give us the truth for once.
I just wonder who FORCED you to listen to these "LIES". Just Block them and live in your own life bro. (dont bother to comment back. Not interested in any further discussion)
An important fact to note here is that this particular podcast was developed and uploaded on the official SBP channel, which as we know is a government institution. Therefore, it is expected of them to paint a much better picture than what the reality is. So it wouldn't be wrong to expect a little biasness in their discussion. These discussions should always be taken with a pinch of salt.
Yeah they were clearly lying about most of the things!! Right now Pakistan is just in brink of collapse!! Let's see what happened although it will not affect me cauz i live in Denmark which is amazing country and now this is my home!!
Very useful information. Hope it will remove lot of misperception. Excellent initiative by SBP !
Useful podcast for confidence building in these uncertain times. All the SB officials answered with knowledge based confidence. Well done.
Why have we increased interest rates? What benefit can we achieve by it. Is it not unnecessarily overburdening government?
It may create vicious cycle.
Sbp increased interest rate mainly to control inflationary pressure. According to them, raising interest rate will avoid over-heating of the economy by stabilizing the Aggregate Demand in the Economy. You are right !!!! We are in a vicious cycle the reason being incompetent government policies. Government is busy in maintaining their power in the politics hence no time to effectively identify what's should be done. Hence SBP has to step up every time and has to take such measure to rescue the economy.
To apply emergency breaks on the ongoing inflation and to prevent the currency spiralling into hyperinflation, which has the potential to turn Pakistan into the next Sri Lanka.
True 100%
Ghana, Angila, MashaAllah what a comparison
Why is dollar made market based. Any large player or consortium can come and manage Forex volatility for their advantage?
Allaha Tallah ham sab Kay Lia assaniya paida. Please keep make Pakistan strong.
Professionally explained without being spokesperson for any political party. Keep it up.
Please let us know how much external debt in terms of dollars, their repayment time and how would it be repaid.
Seems to me all pmln officers instead of State bank officers. This COVID was also in Imran Khan era but everything was going in the right direction. Seems to me ineligible.
He is literally comparing us with Zambia😂 seriously I didn't even knew that a country called Zambia even existed and yet instead of comparing with india, bangladesh, he's comparing with Zambia.
Why is there a difference between the interbank rate of USD and the actual rate? For example last Thursday the interbank rate was about Rs. 225 whereas a foreign payment was made through a bank at 235. What is this? Pl educate us.
Mr. Abid Qamar, Why do not you invite economic expert for questioning these Deputy Governors who are being paid crores of rupees of salary annually.
GOOD SUGGESTION
PEOPLE WHO KNOWS THE SUBJECT MUST INTERACT
I have seen the tamasha for 15 years and despite of all efforts of good people, the BABU MENTALITY Group backed by BABUS of MOF did not take any action against Hundi Hawala Agents (Malik Bostan - Footpath Vendor of Dollars , Haji Haroon, Khanani and Kalia, Paracha - pet if Ishaque Dar Chester Accountant,
They deserve their salaries because they worked hard and also unlike others don't do fraud/ corruption, etc.
@@Fancy33370 Absolutely not
Thankyou for providing excellent information .. it gives us confidence that Pakistan is not going towards default InshaAllah .. SBP Team is Mature and capable.. Pakistan need Political Stability and Honest leadership.. May Almighty Allah Help Pakistan Aameen
All the bull shit reply just saving government why we compare our economy with 3rd rated countries just cover or save face value
.
Very well explained the current situations is cleared, ALHAMDOLILLAH we are on right track.
Please keep going. your efforts are appreciable .we always wait for your podcast videos
Please release an official circular on disbursements under MPMG with biyana-paid cases asap!
For non urdu speakers and for the sake of SBP and of Pakistan subtitling should be available for an important interview like this.
You guys are giving a rosy picture of Pakistan's economy, a layman may get impressed but I'm sorry you can't convince senior bankers
Behtreen
Don't believe anything unless it is officially denied 😂. Since this podcast US dollar has gone up by Rs 35. This is the largest Rs depreciation in 5 days. Thank you team SBP.
It feels good to hear positive outlook of the economy. Though, it feels 'I am watching PTV'... being Imran Khan's follower, I wish he had a strong financial team to help him steer country out of crisis...I hope he will have in future....
please sir beside podcast try to define basic termnologies of economics, as well must create the educational content based on economics. rest of the efforts are priceless i appreciate it.
thank you
الحمد للہ
Great thought Great effort kept up
That's a fantastic series initiated by the SBP. Now economic news is directly coming from horse's mouth 👌
Wonderful podcast ! Thank you so much SBP for these commendable efforts during this crucial time. Salute to SBP Governor, DGs, Senior Management, executives and officers. May Allah bless all of us.
Imf program means countries economy on ventilator.
How long will MPMG Scheme be redesign please tell the month or date🙏
@Sally Sally were you fired from SBP. Must have been the typos in your communications
There should be podcasts in English language also for foreign listeners ,so they can get the true picture of our economy.
when will sbp starts issuing lcs for automobile industry?
Reserves are in single digit and you guys say it's not worrisome. That's very complacent to compare Pakistan with Angola, Zambia, Tunisia. Ab hamara ye level hai 🙄🙄
India, Bangladesh Kay bajaye we are comparing ourselves with extremely poor African countries. 👏👏👏👏
India ???? You want to compare yourself with india....India's current GDP is 3.6 trillion and Pakistan's GDP is 280 billion around...which is 100 billion less than India's single state Maharashtra which is 380 billion. You cannot compete with india....your economy's level is equal to African countries and even they are doing very good as compared to Pakistan.
Even Bangladesh is far better than you. Pakistan's never thought about economy..they just need Kashmir... terrorism and a win in cricket.....that's set.
Informative podcast with very simple explanations.
LCs are not being opened by banks
Also share updates on SME finance i.e PMKJ and SAAF in next session.
Much needed podcast, as a lot of nonsense is going on on social media these are utterly complex issues which are beautifully explained. Thanks SBP team.
Very informative for me. I really appreciate the talk.
MASHA ALLAH
GOOD COMPARISON OF PAKISTAN WITH AFRICA.
ALL IS WELL
IS A GOOD SLOGAN.
BUT REALITY IS REALLY BITTER.
INFLATION IS AT ITS PEAK
INTERNATIONAL AND DOMESTIC LOANS ARE AT ITS PEAK.
L C PROBLEM IS SERIOUS.
FORIEGN CURRENCY ACCOUTS ARE BEEN HELD.
CORRUPTION IS ALSO A BIG ISSUE IN LOWER STAFF OF SBP.
GENERAL IN PUBLIC DEALINGS
Pakistan foreign exchange reserves are now consisting of deposits from China, Saudi Arabia and cannot be used for import. Very pathetic presentation by all the incompetent deputy Governors.
Unfortunately, Pakistan is surviving on the strength of borrowing; (i) fresh (ii) bigger and (iii) more expensive loans from either institutions or individuals (including RDA). This vicious cycle has made the economy vulnerable and it's difficult to come of the debt trap, because the people of this country live on imported consumer and luxury goods.
In short we don't produce and export much (except primarily Agri. / Textile etc) and import from cheese to pet food and from car to mobile phone. Unfortunately there are no checks & controls in this regard. The trade gap, which was $50bn (2021-22) was predominantly balanced by foreign remittances.
The only panacea to our economic woes is conversion of the economy from capitalistic to Islamic (a notable conversion, as drastic, as we experienced in early 1970s i.e. from capitalism to near socialism). But please take a cation here! The prevailing system of Islamic banking & finance is hoax, because it has accepted interest / Kibor as a benchmarking factor, which is in violation to message of Quran & Sunnah on Riba.
In view of the above, let's make a sincere and a concerted effort for aforementioned conversion. In this regard, let's come close in humility to work for the betterment of our beloved motherland.
May Allah SWT help & guide us all towards the straight & truthful path (Aameen).
Excellent, and informative.
Excellent effort and very timely.
This should have been conducted by some professional ankors who have indeapth knowledge of economy. This seems like policy speeches with no searching questions. This will not ease tension in the market.
What is the expecting amount IMF program?
And what are the benefits that SBP Expecting ?
This podcast is a great initative! I kindly suggest focusing on English -- much of what is being shared would likely be of interest to foreign investors.
Thanks for this podcast but my question remains why are they extensively selling the national assets. Do you have an audit of that and what's really happening in that scenario. We need transparency in that too.
If I may, this decision to sell stake in SOE's has come as a last resort. These SOE's have been mismanaged for decades because of which we are now stuck in a horrific circular debt cycle. The only possible way forward is for someone (foreign institutions) to inject capital into these companies and because there's no such thing as a free lunch, they will require some return as well, which they will get in the shape of ownership and a seat at the board of these companies. The listed SOE's are being traded at huge discounts which is hurting their valuation and profitability. The selling of these enterprises will help shore up their value and help regain confidence in the investors.
I do understand that selling will bring in cash flow but in whose treasury. Who'll be conducting these at what bids, terms and conditions and where is this going to be recorded. Who will be regulating the transactions and what benefit will it bring to us.
@@fahadalinaqvi5131 As these are listed companies, all the details pertaining to the transaction will be made public in the company announcement section on the PSX website (bid, offer, manager to the offer, shares offered, % ownership, etc). To answer your question about treasury, the investment will go to the individual SOE's just like when you or I purchase shares of any company. I believe this is the first time in Pakistan where stake is being sold to foreign institutions on a G2G basis, therefore we will have to wait and see how these events unfold. However, I would not worry about the transparency issue in this particular regard. Yes, corruption is prevalent in Pakistan but because of the regulatory authorities (SECP, NCCPL, CDC) it is practically not possible to defraud or cheat in this matter. SECP has quite strict regulations in this matter. Plus, there will be foreign authorities also involved so even more checks and balances and due diligence will take place. Lastly, to answer your question about what benefit it'll bring to us, large scale business transactions have domino effects which will be too long to discuss here. But in short, if an individual invests in these stocks that the foreigner plan on buying at a cheaper price, after the foreigners buy these shares, there is a high probability that the share prices will appreciate, therefore individuals aim to make money here, plus foreign management will bring with it its expertise and better strategies, and many more benefits can be expected.
@@mustafaatiq8781 I hope that these SOEs do get into the right hands and are well regulated and finely documented. Hope SECP and CDC secure these with thorough guidelines and the investments are routed with fruitful ends. I hope we can use this wealth to keep rolling our fragile industries and expand the foreign investment towards our industry.
Let's keep our fingers crossed and hope that things go positively this time around as we no longer can afford a goof-up.
Only 6.7K views for apex SBP Officials.
Seems little effort by External department to reach masses
I am ex Stste Banker and I know the mess up in Stste Bank and know the level of competency and corruption.
We’re you fired from SBP. It must have been the typos in your communications
Why cant they defend the rupee against speculation. Dont you have the power to deal with speculators ? Strange!
Governor SBP said in comparison to other countries Pakistan has increased as well, What's the interest rate?
Can SBP recommend policies to govt for better macro management?
Please also update about other subsidised loans like said etc.
Best of luck for beloved country.
Excellent
How this video is old? Still, Pakistan's crisis different from global inflation. It totally depends on lMF. Foreign reserve is down.
How does tax help in returning foreign loans? We earn taxes in PKR (Pakistan) and return loans in USD. DO we use these PKR to exchange them into USD from local market? If so then this flow of PKR in local market causes massive PKR devolution? which further results in loans going up since we have to pay future loans in USD too?
Also where do this local market Forex come from?
Acting governor has same powers as full governor but it's not just the signature on notes BUT other countries raise their eyebrows because that's an indication that there's no political stability in the country. Big investors also consider this as a caution.
Don't blame social media.
Please STOP this narrative about social media. We don't believe in fake News but we have a mind if our own
news about defaulting of bank of Pakistan is wrong or right?
very unfortunate to see SB Governor comparing Pakistan with those who are about to collapse and we are on the go, have some mercy on our country look at your worst performing currency, no positive indicator. Always looking for support God bless our country
Our debt from IMF WB is against our state assets
The government has also barred the courts of the country not to entertain any petition against the sale of assets and shares of the government companies to foreign countries, as per the ordinance.
How can we separate economy from politics?
Nice, very informative
Why you r reading the notes from the start Governor sahab
What about the dollar why is so down.Rupee had already crashed
It Import Sy pabandi kb khatm ho gi?
Abid Qamar outstanding
We want attention
Banks want circular
Ghar owner want payment
#MPMGRestoreCircular
#RestoreMPMGLoan
#MiftahIsmail
Sir pourane case walo ko benifit mill gia new cases walo ko ni 😲😲😲
All we are discussing is getting finance/aid from other countries / agency... Boss important thing is how to increase income?? What measure we are taking to increase income & foreign reserves?.. We will stay in same condition unless we increase of income specially foreign income. That is only possible through exports / IT but due to increased in Interest rate, industries are closing thus exports are less. No substantial efforts have been done to increase IT exports... How these people say everything is Fine... It's not fine.... its difficult to make economy but easy to blow it out. Why reserves have decrease from 23b to 8b? Where is the audit report?
The audit report says, "Saara tabbar choor hy"
Only fear! Its a ground reality
It is absolutely a 'Bla Bla' talk. No figures if reserves, how you are going to sustain imports of essential items for short term and long term.
Overseas invested in Pkr Certificates Naya Pakistan and sent the remittances ,Sbp ever thought what exactly you done with these Overseas over this period.They ppl lost and literally Pkr is not trust worthy
Super markets are full of non essential imported food items..... Why we do not import discounted oil from Russia.
Why not from Iran. At only pkr 15 per litre.
@@ismailmuhammad9275 banned country in our trade list.. Unfortunately
@@abdulmoeedahmed6929 what wrong they have done to Pakistan. Or just political reason.
Every country should be free to buy from anywhere in less cost and save precious foreign reserves.
@@ismailmuhammad9275 political and USA pressure.
Every one knows these facts by heart these days
Very nice calm reassurance , which is necessary in this time
پلیز MPMG سکیم کے حوالے سے سرکلر بنکس کو جلد از جلد جاری کیا جائے عوام کے بیعانہ ڈوبنے والے ہیں Date expire ھونے والی ہے agreements کی پلیز