Fahd Sheikh @FahdSheikh3 Twitter profile

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Fahd Sheikh

3 years

*PAKISTAN SOVEREIGN DEBT* — A THREAD 🧵: This is an eye-opening depiction of how successive govt’s have mismanaged debt in #Pakistan . 85% of 🇵🇰’s tax revenues are now used to service debt. Under the circumstances, #GOP & @PTIofficial have a few options that they can employ:

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Fahd Sheikh

@FahdSheikh3

1 year

When people who know nothing about the economy tweet about the economy:

Hamid Mir حامد میر

@HamidMirPAK

1 year

Unemployment rate in India is much more than Pakistan. India is on No. 11 and Pakistan is on No. 16

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Fahd Sheikh

@FahdSheikh3

1 year

Salute to Uzair the Genius! 🫡

Uzair Younus عُزیر یُونس

@UzairYounus

1 year

Munir Doctrine: where the army chief and his institution will now play a formal, direct role in facilitating foreign investment into the country. Salute to all the geniuses who came up with this idea!

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Fahd Sheikh

@FahdSheikh3

2 years

Agha Hasan Abedi — legendary banker & founding President of #BCCI (Bank of Credit & Commerce International) — the world’s 7th largest privately owned bank. A bank run by Pakistanis 🇵🇰 & financed by the Ruling Family of Abu Dhabi 🇦🇪 & prominent family offices of Saudi Arabia 🇸🇦.

Adnan Z ∞ 𝞹

@pak_investor

2 years

An icon, celebration of a century. #Pakistan #philanthropy

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Fahd Sheikh

@FahdSheikh3

1 year

I think Dr. @MiftahIsmail was completely stumped by Dr. Jaipal’s very valid question. After all, wasn’t the import of BMWs allowed when he was FM? The question didn’t leave Miftah much room to manoeuvre. He figured let’s adopt Indian NSA Ajit Doval’s strategy: offensive defense.

Javed Hassan

@javedhassan

1 year

So here’s how self-assumed nemesis of elite capture, & supreme enemy of the 1% privilege, respond to a gentle question by a certain Dr JaiPal about BMW import policy: “HOW DARE YOU!! YOU SIT DOWN”. Yup, Let’s reimagine Pakistan this way! (Please do hear Dr JaiPal question too)

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Fahd Sheikh

@FahdSheikh3

1 year

#PAKISTAN GOLF COURSES 🧵: Shall we compare the number of golf courses ⛳️ in #Pakistan vs. the number of golf courses in comparable countries that have high populations similar to us with a minimum GDP criteria of $350 billion?

Fahd Sheikh

@FahdSheikh3

1 year

#Pakistan has plenty of golf ⛳️ courses & polo grounds 🐎 for the elite (mostly funded directly or indirectly by taxpayer money). But very few parks left for the public. I remember quite a few parks in my childhood where we used to play cricket 🏏. Most of them taken over now.

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Fahd Sheikh

@FahdSheikh3

2 years

Someone please update @MiftahIsmail that #Russia 🇷🇺 is willing to sell any sovereign, independent, self-respecting, energy-hungry nation its heavily discounted oil. Someone also update him that 3 x #Pakistani refineries can refine Russian crude. Refined oil can also be imported.

Becky Anderson

@BeckyCNN

2 years

A day after the EU imposed a 90% ban on Russian oil, Pakistan's Finance Minister @MiftahIsmail tells me if Russia were to offer Pakistan oil at a cheaper rate without incurring sanctions, he would consider it.

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Fahd Sheikh

@FahdSheikh3

1 year

This man @husainhaqqani is lying 🤥 (once again). I have it on record that both Mian Nawaz Sharif and Maulana Fazal-ur-Rehman refused to sit across the table with Imran Khan, whereas Imran Khan had agreed to the request of the civil society group known as “The Mediators”.

Husain Haqqani

@husainhaqqani

1 year

I have it on good authority that army chief did not say what is attributed to him in this thread. While we are talking about people’s temperament, it is important to note that Imran Khan, who refuses to talk to political rivals, lacks the temperament for parliamentary democracy.

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Fahd Sheikh

@FahdSheikh3

2 years

The moral of the story is that it is time for you guys to retire. Play golf ⛳️, enjoy the riches 💰 stashed away in Dubai & London, whilst we the younger generation are left to deal with the gigantic debt burden & economic mess that you all will leave behind for us to deal with.

Ahsan Iqbal

@betterpakistan

2 years

@cyalm What is the morale of the story?

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Fahd Sheikh

@FahdSheikh3

1 year

* #PAKISTAN UPDATE*: In the 2017 Census, #Balochistan ’s population was = 12.34 Million. In the 2023 Census, Balochistan’s population is = 20.09 Million. In 6 years, Balochistan’s population has grown by a staggering 63%! Probably never happened anywhere else in the world.

MNA

@Engr_Naveed111

1 year

Project Bilawal in South Punjab is beefed up with new joinings from PTI and PMLN & others. Project Reimagine Pakistan is also in full swing. Both Projects launched by Company to counter PTI. These tactics won’t work as we the masses are now aware of Political Engineering.

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Fahd Sheikh

@FahdSheikh3

1 year

What an embarrassment for @CMShehbaz to visit 🇶🇦 to attend a conference on Least Developed Countries (LDC’s). I’ve never seen the kind of enthusiasm & shamelessness in any other country’s top leadership as I have seen in 🇵🇰’s leadership when it goes on begging trips abroad.

Shehbaz Sharif

@CMShehbaz

1 year

Just reached Doha 🇶🇦 on the invitation of my brother HH Sheikh Tamim Bin Hamad Al-Thani, the Amir of Qatar to attend the 5th UN Conference on Least Developed Countries (LDCs). I will share Pakistan's perspective on the socio-economic challenges facing LDCs in Asia & Africa. 1/2

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Fahd Sheikh

@FahdSheikh3

2 years

Welcome to Banana Republic 🇵🇰🍌 Economy screwed, factories closing, ppl unemployed, floods wreaking havoc, bank debt unaffordable, CAD & fiscal deficit ⬆️, FX reserves ⬇️, inflation uncontrollable, PKR 30% ⬇️, sovereign begging ongoing, & biggest fad is #AudioLeaks #VideoLeaks 🤦🏻‍♂️

Mazhar Abbas

@MazharAbbasGEO

2 years

After #AudioLeaks series get ready for video leak series.

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Fahd Sheikh

@FahdSheikh3

1 year

No. This is not a full apology. What “Dar Sb’s abilities” are you talking about? Even a child knows Dar is incompetent and a conman. Enough with the hypocrisy!

Faizan Khan

@Faizankhaan91

1 year

I apologize to the poor people of Pakistan for this tweet. You always learn from your experience, No doubts on Dar sahbs abilities, it's just that SS government replacing Miftah at the wrong time was unnecessary . Miftah deserves an apology too. May Allah have mercy on us !

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Fahd Sheikh

@FahdSheikh3

2 years

Which journalist was forced to flee #Pakistan to save his / her life during @ImranKhanPTI ’s government? 🤔 Asking this, since @Razarumi here is equating the two eras…

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Fahd Sheikh

@FahdSheikh3

2 years

This dude is an @MIT grad and has a Sitara-e-Imtiaz 🙂 :

Umar Saif

@umarsaif

2 years

Here’s some interesting troll maths: My each tweet gets on average about 300 troll replies. Since these trolls are typically paid per tweet, it costs them around Rs 200 per reply. So my tweets cost PTI social media team around Rs 6,000 per tweet. If I do 200 tweets per month..

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Fahd Sheikh

@FahdSheikh3

2 years

@NajamAli2020 Najam Sb, the middle class comprises mostly of law-abiding & largely tax-paying salaried + SME business-owning citizens of Pakistan. They do not engage in hero worship, but they are guilty of yearning for change after 30+ yrs of political & economic mismanagement in our country.

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Fahd Sheikh

@FahdSheikh3

1 year

#China 🇨🇳 more or less decided to dump #Pakistan 🇵🇰 after 2022’s #RegimeChangeOperation . Pakistan’s Establishment has proven to be an unreliable ally/vassals of the #US 🇺🇸. China is now focussed on forging an alliance with #SaudiArabia 🇸🇦 & #Iran 🇮🇷 who are both serious players.

South Asia Index

@SouthAsiaIndex

1 year

Just IN::— Saudi Arabia can start investing in Iran "very quickly". - Saudi Foreign Minister tells US media.

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Fahd Sheikh

@FahdSheikh3

2 years

😂 A govt. that doesn’t have 💵 to pay back existing #Chinese debt wants to start new multi-billion dollar infrastructure projects as part of “ #CPEC ”. This man @Fahdhusain knows exactly what I’m talking about but will not admit it due to intellectual dishonesty. What a shame.

Fahd Husain

@Fahdhusain

2 years

PM @CMShehbaz China visit will re-ignite the CPEC momentum which was stalled by @PTIofficial govt for reasons that defy belief. Governance is too serious a business to be left to petty people #CPEC #ironbrothers #PakChina

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Fahd Sheikh

@FahdSheikh3

2 years

Khan’s tax czar @SShabbarZaidi wanted documentation. Khan, being the principled boss that he is, promptly filed his tax returns & paid due income tax on sale receipts. In the meantime, like everyone else & their Aunt since the past week, Uzair just wanted to make a point 👇🏼

Uzair Younus عُزیر یُونس

@UzairYounus

2 years

Khan’s tax czar @SShabbarZaidi wanted documentation. His boss’ response 👇🏽

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Fahd Sheikh

@FahdSheikh3

1 year

Dude enjoying first-class infrastructure in Islamabad telling Karachiites who to vote for, lol.

Faizan Khan

@Faizankhaan91

1 year

I believe Voting PPP is the best shot for this term, they have the provincial gov, they are in the federal too and if voted in Local bodies, there shouldn't be any hurdle in development of Hyderabad & Karachi. Baaqi apki Marzi ha !!

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Fahd Sheikh

@FahdSheikh3

2 years

#PAKISTAN PETROL SUBSIDY 🧵: @MiftahIsmail bhai, enough with the hypocrisy. Petrol subsidy was given by @PTIofficial on 28 Feb-2022. It lasted for 42 days, cost PKR 96 bn. Whenever #PTI raised petrol prices, you used to lambast them in the media. Apparently it was wrong then.

Miftah Ismail

@MiftahIsmail

2 years

1. Shaukat bhai but you did violate the agreement you made with the IMF. You agreed to increase Sales Tax to 17% but reduced it to zero. You agreed to raise Petrol Levy every month by Rs 4 to Rs 30 but brought it to zero. You agreed to not give amnesty but gave one anyway.

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Fahd Sheikh

@FahdSheikh3

1 year

#Pakistan ’s Finance Minister Ishaq Dar (popularly known as #DollarDar ) and his sons have turned out to be international money launderers, according to @Intel_Online . Intelligence Online has done a deep dive into the shadowy business empire of Dar & Sons.

Intelligence Online

@Intel_Online

1 year

Finance Minister Ishaq Dar’s sons run a business in Dubai that is said to provide discreet investment advice and other services to Pakistani intelligence and military officials.

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Fahd Sheikh

@FahdSheikh3

2 years

The ones you refer to increased 🇵🇰’s exports to $32bn. Increased remittances to $31bn+. Increased tax collection to Rs. 6.2 trillion. Instituted revolutionary Sehat Card. Operationally launched Mohmand, Bhasha, & Dasu Dams. The list is long, without any major corruption scandal.

Najam Ali

@NajamAli2020

2 years

And those who accused others of misruling Pakistan for 30 years, misruled it with impunity and without shame. They are more guilty than anyone else. We trusted them and they betrayed us. Take a look at IK cabinet and you will see the corrupt and the incompetent on one table.

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Fahd Sheikh

@FahdSheikh3

1 year

Someone tell this dude that Rs. 20 billion is peanuts 🥜 and can be raised in a 2-minute T-bill auction by the Government of #Pakistan from the flush-with-liquidity commercial banks if it actually wants to. The people of Pakistan are being treated like fools & idiots by #PDM .

Uzair Younus عُزیر یُونس

@UzairYounus

1 year

Someone tell the honorable judges that the central bank doesn’t control govt funds…

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Fahd Sheikh

@FahdSheikh3

1 year

The #IMF mission has apparently been particularly tough during ongoing negotiations to unlock an additional $1 billion in funding for #Pakistan . They’ve essentially told #GOP that it has never approached the turnaround of Pakistan’s economy seriously.

Pakistan, IMF grapple for consensus to unlock critical funding

ISLAMABAD: Pakistan and the visiting International Monetary Fund mission are struggling to arrive at a consensus on...

www.brecorder.com

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Fahd Sheikh

@FahdSheikh3

3 years

#Pakistan Banking Sector M&A — A Thread 🧵 Interesting things happening in 🇵🇰’s banking sector related to #GCC -based sponsors. Samba Bank is leaving 🇵🇰 🔜 after parent entity’s merger with NCB in Saudi Arabia 🇸🇦, & MergeCo Saudi National Bank’s decision to divest some assets.

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Fahd Sheikh

@FahdSheikh3

1 year

#Pakistan has plenty of golf ⛳️ courses & polo grounds 🐎 for the elite (mostly funded directly or indirectly by taxpayer money). But very few parks left for the public. I remember quite a few parks in my childhood where we used to play cricket 🏏. Most of them taken over now.

Muhammad Haroon Aslam

@AVeteran1956

1 year

They are after golf courses. These are not stealing dollars. Get your revenue & taxes but don’t eliminate these. Let the cities breathe. If you do, these will be converted into concrete jungles. Typical of them; ask them to mend their ways & they distract you so craftily

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Fahd Sheikh

@FahdSheikh3

2 years

@ImranKhanPTI & Bushra Bibi have zero involvement in the alleged secondary market deal between Umer Farooq & Farah Gogi / Shahzad Akbar. ZERO. IK will sue Khanzada & IK has a strong case. Now, moving onto more important matters, when is @MIshaqDar50 bringing the PKR below 200?

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Fahd Sheikh

@FahdSheikh3

2 years

#Pakistan is missing out on approx. $10-20 billion in incremental liquidity because #SBP hasn’t allowed foreign entities owned by Pakistani nationals to open RDA accounts & invest in Naya Pakistan Certificates. SBP should urgently allow offshore entities to open RDA accounts ‼️

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Fahd Sheikh

@FahdSheikh3

2 years

Apparently the Fauj is interested in the economy. Hmm 🤔, right. #BajwaDoctrine #RegimeChangeOperation #Geoeconomics

Wajahat S. Khan

@WajSKhan

2 years

Hearing: view within the Fauj is that there is no, absolutely no space for Imran Khan in any immediately foreseeable dispensation of government in the near future Thinking: The Fauj is interested in the economy and thinks that Khan doesn’t fit the “economy first” bill

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Fahd Sheikh

@FahdSheikh3

2 years

#Darnomics & the #DarPeg 🚨 A thread 🧵 — There are two very clear scenarios in #Pakistan 🇵🇰 at the moment:

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Fahd Sheikh

@FahdSheikh3

1 year

Bilal has the audacity to blame the previous government for the gross mismanagement that he & his mentor @MIshaqDar50 have burdened this hapless nation’s economy with since Apr-2022. Economy in recession, exports crashing, PKR @ 315, interest rates @ 21%, inflation @ 42%! 👀

Bilal Azhar Kayani

@BilalAKayani

1 year

Amazed that you have the audacity to give sermons on the state of Pakistan’s economy and make delusional claims about PTI’s performance. You are part of IK’s so-called economic team which ran Pakistan’s economy into the ground for 4 years and then deliberately pushed the country

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Fahd Sheikh

@FahdSheikh3

2 years

Both @pmln_org & @MediaCellPPP have the unique honour of overseeing the downgrade of Pakistan’s sovereign credit rating to CCC (negative) by @SPGlobalRatings starting in 1998, repeating in 2008, & now once more in 2022. #PDM was touted as: “Experienced Coalition”. No doubt! 🙄

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Fahd Sheikh

@FahdSheikh3

1 year

Instead of blaming his former boss’s gross mismanagement of #Pakistan ’s economy (Shehbaz Speed all the way to a negative 0.5% GDP growth & 38% inflation), Umar Saif lays the blame at the doorstep of this country’s bright young entrepreneurs. Pathetic.

Umar Saif

@umarsaif

1 year

Another $14.1 Million down the drain. Dear Pakistani entrepreneurs kindly think about building products and business models that go beyond a couple of years of burning VC money while it lasts …

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Fahd Sheikh

@FahdSheikh3

2 years

@DrTazKhalid @ImranKhanPTI @SKMCH And the propaganda begins. Remember it was @ImranKhanPTI who nominated @AtifRMian to a very important role within his Economic Advisory Council. Extremists within the country protested & he had to role it back, but PM-IK is the one who nominated Atif, despite knowing the reality.

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Fahd Sheikh

@FahdSheikh3

2 years

@Joginde56805082 @kanika0509 There is no fake wall, and no it will not collapse.

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Fahd Sheikh

@FahdSheikh3

1 year

The current leadership of #Pakistan (Establishment + #PDM ) doesn’t give a damn about RDA, NPC, Remittances, Exports, or FX Reserves. Why? Because most of their kids & monetary assets are abroad. Why care when you have a very small stake in the future & success of this country.

اویس

@Sabbandkardo

1 year

The heart break for Pakistan continues RDA : Mar 23 only 12,769 accounts opened | Apr- Mar23 (12m) : 2.04B$ ( Avg : 170m$ | Mar 22 6m -avg: 252M$ Loss to Economy : 1 Billion US$ While the regime was celebrating reaching 6B$ we lost over 1 billion US $ in the last 12 m

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Fahd Sheikh

@FahdSheikh3

1 year

Happy for you @hoflolz 👏🏼 None of us need to provide any certificate of patriotism to anyone, especially not to touts of this fascist #PDM government that has crossed all boundaries of ruthlessness & oppression of ordinary Pakistanis. May you succeed wherever you are.

Syed Muzamil Hasan Zaidi

@hoflolz

1 year

I tend not to respond to useless social media commentary about me, but I’m bored & have a lot of free time on my hand, so I’ll bite. There are 4 narratives commonly used to hate on me and bully me every time I try to speak about the rising fascism of our current government. 1/n

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Fahd Sheikh

@FahdSheikh3

1 year

Rs. 74,000 ki Piaget! 😂😭 @MiftahIsmail #ReimaginingPakistan

اویس

@Sabbandkardo

1 year

My man @MiftahIsmail got On Piaget W Watch and 1 Pair of cufflinks worth 370,000 and 1 Mount blank pen ( 10,000)

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Fahd Sheikh

@FahdSheikh3

1 year

If only @Faizankhaan91 had read a little to understand what @Shell Energy Retail actually does, he would’ve been able to make the informed decision NOT to compare it to Shell Pakistan. Patwari’s been at it all day: “But Shell ⛽️ exiting from various markets.” 😂 @adeel_azhar

Faizan Khan

@Faizankhaan91

1 year

Wesay Sirf Pakistan nahe, they are closing retail business across UK,Germany & Netherland as well. Plus what if foreigner buys off their share? Will it matter then? Sastay RJ ki baaten sun lo bas

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Fahd Sheikh

@FahdSheikh3

1 year

For everyone making a big deal out of (criticising) the #TimHortons record-breaking opening day sale in #Pakistan : 1) Intl. suppliers took this news positively 2) Perception is key - domestic buying power gives confidence to foreign investors 3) People spent their own money

South Asia Index

@SouthAsiaIndex

1 year

Lahore:— Tim Hortons makes record of highest opening day sales of its history, in Lahore, Pakistan.

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Fahd Sheikh

@FahdSheikh3

1 year

The hike was 3% in the last MPC meeting, good that Kami bhai updated later. These COAS + FM meetings with leading businessmen & industrialists of #Pakistan 🇵🇰 (happening since Gen. Raheel & Gen. Bajwa era — especially Gen. Bajwa loved these meetings) are literally of no use.

Kamran Khan

@AajKamranKhan

1 year

Along with COAS Asim Munir FM Ishaq Dar during meeting with top leaders of business community revealed IMF wanted SIX PERCENT hike in discount rates and he some how,for the time being managed, 2 percent hike in the last MPC of the SBP

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Fahd Sheikh

@FahdSheikh3

2 years

Interesting suggestion Dr. @rezabaqir . We had made a comparison of #Pakistan ’s 🇵🇰 remittances with the #Philippines 🇵🇭 & presented our findings to FM Shaukat Aziz & then SBP Gov. Dr. Ishrat Husain back in 2000. At the time, Pakistan’s remittances were below $1 billion.

Reza Baqir

@rezabaqir

2 years

Can Pakistan learn lessons from how the Philippines developed a home grown reform program that generated so much foreign exchange that it prepaid all IMF obligations in one go and has not needed to go back to the IMF?

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Fahd Sheikh

@FahdSheikh3

2 years

Name me 1 cabinet member of @ImranKhanPTI who became a $ billionaire during @PTIofficial ’s tenure. What is IK’s net worth? Which properties & assets does he own abroad? Let’s compare his net worth to favourites Sharif Brothers & Bhutto-Zardari. Let’s compare to some Generals too.

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Fahd Sheikh

@FahdSheikh3

1 year

@aamir_ashar The monopoly and stranglehold on power in #Pakistan of the elite boomers is about to come to an end. The future belongs to the educated, forward-looking young generation who detest bribery, tax evasion, & corruption and it is this young generation that will save Pakistan 🇵🇰.

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Fahd Sheikh

@FahdSheikh3

1 year

This is why I call #DisasterDar a “charlatan accountant”. The man is not only a liar but also incompetent to the hilt. Shame on everyone who had recommended, supported, and acted to appoint him (yet again) as the Finance Minister of #Pakistan .

Maria Memon

@Maria_Memon

1 year

Dar Saheb really doesn’t care.

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Fahd Sheikh

@FahdSheikh3

1 year

This uncouth senator is the son of someone who was widely known for his foul language. The apple 🍎 hasn’t fallen far from the tree 🌲

Senator Dr. Afnan Ullah Khan

@afnanullahkh

1 year

ماہرہ خان کو مینٹل ہیلتھ پروبلم ہیں اور انور مقصود عمر کےاس حصہ میں شراب کےنشہ میں دھت رہتا ہے۔ان دونوں بےشرم کیریکٹر پر عوام کی لعنت ہو۔ماہرہ خان کےکردار پر تو کتابیں لکھی جا سکتی ہیں،یہ پیسہ کےلیےانڈین اداکاروں کی خوشامد بھی کرتی ہےاور انور مقصود تعصب سے بھرا ہوا لعنتی کردار ہے

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Fahd Sheikh

@FahdSheikh3

1 year

IK is not a crook. IK is not a thug. IK is not a murderer. IK is not a fascist. IK is not a corrupt family dynast. IK is not the mafia. Yet these hypocrites compare someone like IK to Pakistan’s version of the Sicilian Mafia (as aptly described by former CJP Asif Khosa).

Shehzad Ghias Shaikh

@Shehzad89

1 year

PML-N has finally woken up to what Imran Khan realized a year ago. Things will get much uglier. Both sides now rightfully realize that this is a war for their very existence. If IK wins 2018-22 was nothing compared to what he will do to the opposition. 1/2

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Fahd Sheikh

@FahdSheikh3

1 year

Unsurprising: the bloodlust of Maryam & her dad’s supporters! IK survived an assassination attempt & is unable to file an FIR against his alleged assassins till-date. He has every right to defend himself. People are at #ZamanPark themselves. @PTIofficial ain’t a biryani party.

Searching for the Obvious

@imran220557

1 year

@AnayaNKhan Benazir Bhutto faced political imprisonment at 24, yet she never resorted to using human shields or sacrificing her workers. We have a 69 year coward who'd hold his workers as shields than face a mere minute behind bars. #CourageVsCowardice

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Fahd Sheikh

@FahdSheikh3

1 year

⛳️ Courses GDP ($bn) GDP / ⛳️ Pakistan = 49 350 7 Indonesia = 70 1,400 20 Turkey = 20 2,800 140 India = 196 3,500 18 Nigeria = 11 450 41 Bangladesh = 2 460 230

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Fahd Sheikh

@FahdSheikh3

1 year

🚨 #Darnomics & the #DarPeg : 5 different exchange rates prevailing in the market today, not 4! Rs. 228 —> Interbank Rs. 237 —> Open Market Invoice Rs. 265 —> Open Market (USD Cheque) Rs. 268 —> Open Market (USD Cash) Rs. 272-275 —> Black Market (Hundi / Hawala)

Yahya

@yahyamihsan

1 year

@FahdSheikh3 @ahfazmustaf What's the fifth one? 😯

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Fahd Sheikh

@FahdSheikh3

2 years

The current economic crisis #Pakistan is undergoing is like none other in the past. Don’t know if stakeholders in ISB, RWP, KHI, LHE, & PEW realise that. All stakeholders must put their egos aside & sit together to save 🇵🇰. If they don’t, history will neither forgive nor forget.

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Fahd Sheikh

@FahdSheikh3

2 years

During @pmln_org ’s govt (2013-18), exports literally came to a standstill; in fact, dropped. Exports: single-most critical factor for #Pakistan ’s nascent economy. It is PML-N’s same finance & economic “managers” who wish to tell us how to turnaround Pakistan’s economy. Hmm 🤔

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Fahd Sheikh

@FahdSheikh3

9 months

@UssamaMakdisi Not only US universities, but UK ones as well.

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Fahd Sheikh

@FahdSheikh3

1 year

@Sabbandkardo @HaiderKAbbasi MashAllah. Reimagining Pakistan one watch at a time. @Shahid_Khaqan_ @MiftahIsmail @mustafa_nawazk 💯

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Fahd Sheikh

@FahdSheikh3

3 years

@Bilal952 @AzamAKhan2 1) A side gig, doesn’t matter how small or insignificant it may seem right now - get your spouse involved if married - or your siblings if not 2) Invest just 5% of your monthly income into equities - in a performing mutual fund, & once you gain knowledge, you can invest yourself

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Fahd Sheikh

@FahdSheikh3

3 years

Pakistan’s GDP was $314b in 2018 when its currency was seriously overvalued (REER was 125). Pakistan’s GDP is $296b today in 2021 when its currency is fairly (and at times undervalued) with REER of 100 or below. This no one will talk about 👆🏼.

Ammar Khan

@rogueonomist

3 years

Total GDP for PK peaked at $314b in 2018, and then crash and burn to $263b, and then $296b now. Supposedly 'highest ever increase' is still lower than even 2017 levels. Like you have a good thing going on, why use random superlatives.

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Fahd Sheikh

@FahdSheikh3

10 months

Tipu Sultan, King of Mysore, had many advisors who advised him to compromise 🙇‍♂️ with the British East India Company in 1799 (the Siege of Seringapatam). Tipu s/o Hyder Ali never compromised. No one remembers those advisors or his enemies. Tipu’s name lives. He’s an Immortal.

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Fahd Sheikh

@FahdSheikh3

2 years

@ImranKhanPTI , all you need to do is pick up the phone & call @rezabaqir + other senior SBP-BPRD officials & ask them to give you their honest feedback on ST. Ask them whether a banker who has run Silk Bank into the ground should potentially be #Pakistan ’s next Finance Minister.

Fahd Sheikh

@FahdSheikh3

2 years

@ImranKhanPTI , why did you let Dr. AHS go & bring in ST? What were you thinking? Did you not think it wise to undertake a market check? Did you not speak to the then SBP Governor @rezabaqir ? He had the Silk Bank file on his desk! Do you plan on repeating the same mistake again?

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Fahd Sheikh

@FahdSheikh3

4 years

@MirMAKOfficial #UzmaKhan had 2 choices: 1) Continue her fight against #TheUntouchables & risk unending legal fees, years of fighting the case with 0 result, & possible threat of physical harm 2) Cut a deal & go home safely - save both time & money She’s a realist; she made the right choice.

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Fahd Sheikh

@FahdSheikh3

1 year

Which means #Pakistan 🇵🇰 should technically have only 6-7 golf courses at max if it were to be a good boy and conform with its comparable countries’ GDP factor ($350bn / $55bn). But Pakistan has a staggering 49 golf courses. Holy smokes! Living beyond our means, are we? 😉

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Fahd Sheikh

@FahdSheikh3

1 year

For those ardently defending elite privileges & living in a bubble, this is just one example that proves why 🇵🇰 may require sovereign & domestic debt restructuring with its 23rd IMF programme ongoing & less than $4bn in official central bank FX reserves. Have some shame people 🫢

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Fahd Sheikh

@FahdSheikh3

1 year

#Crooks in power in the largest province of #Pakistan 🇵🇰 — #Punjab 🚨⚠️ And then they ask why the young generation is willing to raise the stakes & why there is such a massive & unprecedented #BrainDrain happening as we speak. A must-read thread 🧵 by the indomitable @worqas —

Waqas

@worqas

1 year

BREAKING/Exclusive: Recently it was reported that the caretaker CM Punjab's tv channel, Channel24, is going to get 45% increase in govt ad rates. That means that the govt will pay Channel24 more money than ever before. But thats not the full story...keep reading.

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Fahd Sheikh

@FahdSheikh3

2 years

Someone please update @MiftahIsmail that #India 🇮🇳 has bought a record 34 million barrels of Russian crude since #Russia ’s invasion of #Ukraine 🇺🇦 on 24 February 2022.

India's import of discounted Russian oil on record high, oil climbs above $121 per barrel. Top 10...

India received 24 million barrels of Russian crude in May, up from 7.2 million barrels in April and about 3 million in March, and is expected to receive about 28 million barrels in June

www.livemint.com

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Fahd Sheikh

@FahdSheikh3

11 months

No sir. It is an embarrassment and a possible sign of times to come for all those geezers and boomers out there who have — over the past 5 decades — through their incompetence, greed, and corruption, destroyed our beautiful, high potential country.

Farhatullah Babar

@FarhatullahB

11 months

This is no embarrassment to @CMShehbaz . It’s an insult to the spirit of sportsmanship. It’s an embarrassment to the coaches. It’s an embarrassment to the sports academy training the young sportsman.

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Fahd Sheikh

@FahdSheikh3

3 years

1) Ramp up tax revenue growth — @NadraPak has a list of 3 million top spenders of #Pakistan . Now is the time to act & hold tax evaders accountable. @FBRSpokesperson , @shaukat_tarin , and NADRA, in coordination, need to start knocking on some doors.

High-level panel formed to arrest big tax evaders

The federal govt formed a high-level committee, comprising the finance minister, the FBR chairman and senior members to authorise the arrest of tax evaders.

tribune.com.pk

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Fahd Sheikh

@FahdSheikh3

11 months

Massive weightlifting 🏋️‍♂️ ongoing. Tough competition between @Fahdhusain and @muneebfaruqpak !

Fahd Husain

@Fahdhusain

11 months

Without Shehbaz Sharif as the PM, the coalition would have struggled to stay intact. He's the glue that held it together

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Fahd Sheikh

@FahdSheikh3

2 years

#Pakistan 🇵🇰 was never facing a default-like situation until the #RegimeChange Op. of Feb-2022. Pakistan’s FX reserves in Feb-2022 were in excess of $22.6bn. Today, reserves are barely at the $13.5bn level. That is a $9.0bn drop in less than 6 months! 😳 #ThankYouMiftahIsmail

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Fahd Sheikh

@FahdSheikh3

1 year

Brig. Sb, did you actually understand @CraigMurrayOrg ’s tweet? 🤔

Ashfaq Hassan

@BrigAshfaqHasan

1 year

Stamped, nailed. Its mean allegations levied against estb and Gen Bajwa for removing khan's Govt were not correct. Maturity demands mature behaviour from all leadership. Calling shots on apprehensions raises many qualms on the character of leaders

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Fahd Sheikh

@FahdSheikh3

2 years

@NajamAli2020 1) Devalue PKR to 250+ level today 2) Exporters will rush to convert their $ inflows 3) REER will be < 100; exports to become competitive 4) Hundi / Hawala to become non-competitive, resulting in higher official-channel remittances 5) Imports to become expensive; demand to drop

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Fahd Sheikh

@FahdSheikh3

2 years

And this is only 4 months of #Pakistan remittances data. Extrapolating for FY2023, we should end up around $2.5 billion+ short as compared to FY2022. Took a lot of hard work & presentations at PM-level in 2019 to get reforms implemented. Painful to watch at a personal level 😢

اویس

@Sabbandkardo

2 years

The regime change operation in Pakistan has resulted in 927 million $ Drop in remittance YOY in FY 23 compared to FY 22 same period Highest drop - 326 m$ in remittance from KSA Total Drop in remittance from middle east 592m$ in 4 months FY 23 vs FY 22

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Fahd Sheikh

@FahdSheikh3

1 year

@MoeedNj What kind of a statement is: “I am the first Army Chief to visit China after the pandemic.” Me, me, it’s all about me. Other chiefs don’t visit coz politicians visit instead. Training standards need to be raised in the forces. Whether anyone likes it or not, was embarrassing.

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Fahd Sheikh

@FahdSheikh3

2 years

@NajamAli2020 Najam Sb I believe it is time for some serious introspection & retrospection as to what actions & policies brought us here, rather than blaming those (who have suffered and have seen their net wealth erode drastically over the past 3 decades) for desiring change at all costs.

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Fahd Sheikh

@FahdSheikh3

1 year

Currency-in-Circulation (CiC) & how it’s causing massive (40%+) inflation in a #Pakistan whose govt is absolutely unwilling to reduce its wasteful expenditure but more than willing to take on more loans to repay existing loans. No concept of #DebtReduction in 🇵🇰. @meherbokhari

HUM News

@humnewspakistan

1 year

نئے کرنسی نوٹ ملکی معیشت کیلئے پھندا دیکھئے مکمل پروگرام: @meherbokhari

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Fahd Sheikh

@FahdSheikh3

4 years

@DanielKRad This is an Aqeeq ring. It’s a sign of camaraderie and brotherhood when it is put on as a gift on another fellow Muslim’s finger by his brother.

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Fahd Sheikh

@FahdSheikh3

1 year

Reserves = $0 billion aka 🥚. There’s a backlog of $4-5 billion in import payments, royalties, profit repatriations, airline payments, & other services payables currently stuck. Net payable of just these amounts is equal to #Pakistan ’s total reserves. Let’s not fool ourselves.

Ali khizar

@AliKhizar

1 year

SBP reserves are up by around $300 million last week to $4.6 billion Still a long way to go, and no recourse without the IMF.

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Fahd Sheikh

@FahdSheikh3

1 year

The things these #PDM clowns 🤡 are having to do now to win brownie points 🎖️ for importing #Russian 🇷🇺 crude oil ⛽️ into #Pakistan 🇵🇰. Why are they having to do all this buffoonery? Because they SABOTAGED @ImranKhanPTI ’s efforts in Apr-2022 to procure at the steepest discount.

Waqas

@worqas

1 year

This oil went from - Russia to India - India to UAE - UAE to Pakistan. So, the Indian and UAE middlemen made a bunch of money. Russia to India @ $52 per barrel, then India to UAE sold and bought by the same party @ $X, and then sold to 🇵🇰 @ not less than $69 per barrel. At

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@FahdSheikh3

11 months

You can take some people out of slavery, but not the slavery out of them.

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Fahd Sheikh

@FahdSheikh3

1 year

This Lunday ka Wolverine just threatened an innocent Twitter handle with violence and harm. Wolverine de Gawalmandi wrote “Be afraid, be very afraid”. Report this @pmln_org tout and say NO 👎🏼 to #Pakistan ’s version of the Sicilian Mafia.

Attaullah Tarar

@TararAttaullah

1 year

Who is this appeal to? Are IK supporters and sympathisers appealing and pleading for a foreign intervention? Do they want an international conspiracy in their favour? Hum koi ghulam hain ka kya ho ga? PTI has maryam phobia and so they should. Be afraid, be very afraid.

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Fahd Sheikh

@FahdSheikh3

2 years

@MIshaqDar50 caused the Mother of All CAD Crises due to an infatuation with a strong PKR (2018). @shaukat_tarin oversaw an Unmanageable Trade Deficit (2022) due to a “growth at any cost” strategy. Unfortunately for Pakistan, neither @pmln_org nor @PTIofficial learnt any lesson.

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Fahd Sheikh

@FahdSheikh3

2 years

I have consulted 3 x exchange company owners & a few private bankers in #Pakistan 🇵🇰. Their estimates vary, but the numbers are mind-boggling. They estimate that resident #Pakistanis are holding anywhere between $6-20 billion in FCY cash (💷💵) in 🇵🇰 OUTSIDE the banking system.

Muhammad Haroon Aslam

@AVeteran1956

2 years

A large number of Pakistanis have investments worth Billions abroad & Pakistan is close to bankruptcy. For sake of your motherland please dispose off part of these, at least, & invest in Pakistan. #Pakistan

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Fahd Sheikh

@FahdSheikh3

2 years

Shahbaz Rana wants @StateBank_Pak to intervene in the FX market, injecting precious USD reserves (already depleting) through an OMO in order to artificially prop up the PKR. It is a failed strategy practiced by one infamous Mr. Dar in the past, & SBP must avoid it at all costs.

Shahbaz Rana

@81ShahbazRana

2 years

Value of Dollar in interbank market has touched Rs188. Is SBP a partner in crime and deliberately closing its eyes to massive manipulation going on right now?Does SBP want rupee to touch Rs190 to a dollar before weekend? SBP must clarify it’s position

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Fahd Sheikh

@FahdSheikh3

2 years

Very few young #Pakistanis know that Ghulam Ishaq Khan Institute of Engineering Sciences & Technology ( #GIK ) was financed by #BCCI in order to assist #Pakistan in establishing a state-of-the-art tech university that would provide support & human capital to 🇵🇰‘s nuclear program.

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Fahd Sheikh

@FahdSheikh3

1 year

Auto players (primarily #Japanese 🇯🇵) who haven’t fully localised even after operating in #Pakistan 🇵🇰 for 40+ years are shutting down their plants coz they depend on imports for most of their high-value parts & even others indirectly imported through vendors. Always been a scam.

Abdul Rehman Najam

@AbdulRehman0292

1 year

Times were tough for 🇵🇰🇵🇰 Auto Industry in 2022 but things will get much worse going forward‼️ Auto industry was operating at 60-70% quota in 2022, SBP priority list for imports and $$ shortage has relegated them to last in line SMEs operating as auto vendors will also suffer

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Fahd Sheikh

@FahdSheikh3

2 years

This is a dangerous & highly divisive statement. Especially at a time when the political temperature needs cooling down & national unity must be forged amidst #PakistanFloods2022 . Not surprising it comes from someone based abroad with probably little to no stakes in #Pakistan .

Aqil Shah

@AqilShah_

2 years

The PTI is not a legitimate political party, it is a populist cult that poses a clear danger to Pakistan’s economic and political stability.

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Fahd Sheikh

@FahdSheikh3

3 years

3) Circular debt to be tackled head-on, with urgency — Electricity theft everywhere. I visited a desert palace in 🇵🇰 once & was shocked to see 2 dozen A/C’s on in all rooms. Upon inquiry, I was told “who cares, it’s not as if we have to pay the bill”.

How electricity theft impacts Pakistani society

Besides electricity theft by individuals and communities, industries are also stealing electricity

tribune.com.pk

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Fahd Sheikh

@FahdSheikh3

3 years

Senior members of Armed Forces, Judiciary, Opposition, & NAB should be invited in order to bring everyone on the same page. Once all are convinced, a transparent & public privatisation process should be run & loss-making PSE’s should be auctioned & sold.

Privatisation debate all over again

EDITORIAL: Raising the privatisation debate from the dead just to meet an IMF (International Monetary Fund) deadline...

www.brecorder.com

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Fahd Sheikh

@FahdSheikh3

2 years

It is beyond any doubt that the vast majority of RDA inflows & NPC investments materialised due to the comfort that Overseas Pakistanis had in @ImranKhanPTI as the Prime Minister of #Pakistan 🇵🇰. Make him PM again today, & you will see these NPC outflows reversing! 💯

Economy of Pakistan

@Pakistanomy

2 years

Overseas Pakistanis sold $660 Million of Naya Pakistan Certificates (NPC) from 31st March to 30th September! *Data by State Bank 🏦 Seems like overseas Pakistanis, who started investing in NPC through Roshan Digital Accounts are taking their money out.

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Fahd Sheikh

@FahdSheikh3

3 years

2) Stop the bleeding from Public Sector Enterprises (PSE’s) — Prioritise the privatisation of entities that are bleeding the most. A presentation to this effect & why privatisation has become so critical for Pakistan’s economic security should be given by @ImranKhanPTI himself.

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Fahd Sheikh

@FahdSheikh3

1 year

For those who think that the 🌍 hasn’t changed & #GCC Arabs will continue bailing Pakistan out endlessly. I’ve repeatedly highlighted to those in power that 🇸🇦🇦🇪🇶🇦 are no longer interested in doling out free funds. If you don’t stop going there, they’ll even start avoiding you.

Fahd Sheikh

@FahdSheikh3

1 year

What an embarrassment for @CMShehbaz to visit 🇶🇦 to attend a conference on Least Developed Countries (LDC’s). I’ve never seen the kind of enthusiasm & shamelessness in any other country’s top leadership as I have seen in 🇵🇰’s leadership when it goes on begging trips abroad.

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Fahd Sheikh

@FahdSheikh3

1 year

@javedhassan is right. Is this what these guys mean by “Reimagining Pakistan”? They should change their slogan to “Imagining Purana Pakistan”. Because this is how they respond to a legitimate question from an elderly gentleman in a Literary Festival! 😯🤯 Thanks Dr. Jaipal 🙏🏼

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Fahd Sheikh

@FahdSheikh3

1 year

#UAE 🇦🇪 is forging ahead, succeeding in the region like never before whilst giving globally-talented or moneyed individuals Golden Visas. #Portugal 🇵🇹 has managed to become the global headquarters for Agha Khan’s Ismaili Imamate. And here in #Pakistan 🇵🇰 we have these jokers:

Muzamal Suharwardy

@M_Suharwardy

1 year

People with dual nationalities should neither be allowed to vote nor contest in any elections of Pakistan. They should not be allowed to take part in any political activity either. In fact , the law of dual nationality needs to be abolished. Either you are a Pakistani or not.

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Fahd Sheikh

@FahdSheikh3

1 year

99% of the population of #Pakistan is barred or restricted 🚫 from entering these vast & spacious (elite) golf courses and polo grounds. People often wonder why 🇵🇰 has stopped producing great sportsmen. This exclusivity & elite capture 🕸️ of parks is one of the major reasons.

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Fahd Sheikh

@FahdSheikh3

2 years

To privatise #PIA & offer 49-51% with management control to @etihad 🇦🇪, @emirates 🇦🇪, or @qatarairways 🇶🇦 in a G2G deal would be an excellent move by #Pakistan 🇵🇰. My view is simple. If no govt in 30 yrs has been able to fix PIA, let those who know this business do it for you.

Pehalwaaan

@Pehalwaaan

2 years

Qatar Airways owns a 25.1 per cent stake in BA owner International Airlines Group (IAG). The Pakistani government plans to offer 51% operational control in PIA - Pakistan International Airlines (PK, Islamabad Quaid-e-Azam Int'l) to Qatar.

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Fahd Sheikh

@FahdSheikh3

2 years

@MIshaqDar50 , when are you taking a flight ✈️ to 🇨🇳 to meet with @MFA_China to discuss a $30bn+ debt restructuring proposal with #China ’s leadership? When are you apologising to @IMFNews for your insensitive remarks? When are you letting go of your crazy PKR < 200 infatuation?

Fahd Sheikh

@FahdSheikh3

2 years

None of #Pakistan ’s recent Finance Ministers (The Usual Suspects) were able to come up with any out-of-the-box ideas as their focus remained on how to please their Prime Minister & the Establishment along with business lobbies. None implemented any major cost-reduction measures.

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Fahd Sheikh

@FahdSheikh3

2 years

@WaqasMu26855687 @developingpak China’s whole economy was based on the copy-paste model for many years. Pakistan should expedite copy-pasting everything it can as per import substitution model until it can innovate independently. This is the least we can do which we haven’t done on a large-scale till-date.

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Fahd Sheikh

@FahdSheikh3

1 year

Not true. Two reasons why SFIC formed: 1) Army wants full control / oversight of future FDI investment in 🇵🇰 2) Geopolitics is different to Geoeconomics. If they were the same, we’d have received the $2bn from 🇸🇦 & $1bn from 🇦🇪 by now. MBS & MBZ not your typical GCC 👑’s

Wajahat S. Khan

@WajSKhan

1 year

Do not forget that the COAS has some serious contacts and access in the GCC - He served in KSA as a one-star (rare) - He spent time in the region after his promotion to three-star rank (rare) - He was in GCC during and after May 9th (coincidence, sure, but didn't return home

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Fahd Sheikh

@FahdSheikh3

3 years

4) Wasteful government expenditure to be identified & cut quickly — Example: I once visited a Federal Employees Pension office in the capital & was surprised to see hundreds of employees in just one of the buildings. Paperwork & files were everywhere and computers were scarce.

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Fahd Sheikh

@FahdSheikh3

2 years

Someone also update him that non-nuclear Islamic country #Bangladesh 🇧🇩 is putting in place the mechanism to begin purchasing #Russian crude as it is in its stated national, economic, & energy security interests.

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Fahd Sheikh

@FahdSheikh3

1 year

The #RegimeChange Operation of April 2022 has destroyed #Pakistan ’s 🇵🇰 economy. It will take years for this country to recover from the economic, political, and social damage that former Army Chief General Bajwa and his associates have recklessly wreaked on this nation.

Aneel Iqbal

@AneelIqbal_

1 year

Although PTI was using an expansionary policy that promoted consumption, it seems now that our exports and remittances cumulative $6bn/m could've sustained the supercycle pressure. Pakistan's economy could've been in much better position if VONC hadn't happened.

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