To kya aap keh rahy hain Qamar Bajwa ka ehtisab hoga?
#generalbajwa #muhammadzubair #accountability #offtherecord #kashifabbasi #arynews
#generalbajwa #muhammadzubair #accountability #offtherecord #kashifabbasi #arynews
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00:00 Petrol has become Rs. 331.
00:02 How much will petrol cost?
00:04 Why is petrol expensive?
00:06 Who is responsible for its price?
00:08 We saw, PTI's government came,
00:12 before coming, Imran Khan used to say that
00:14 Pakistani people are straightforward.
00:16 When petrol is expensive,
00:18 assume that Wazir Adam is a thief.
00:20 This is the only meaning of this.
00:22 He came and petrol became expensive in his time.
00:24 When petrol became expensive,
00:26 people of Noor League said,
00:28 "This man is not afraid of anything."
00:30 "He is a thief, that's why it has increased to Rs. 300."
00:32 "He has increased it to Rs. 2, Rs. 4."
00:34 So we saw that,
00:36 Imran Khan could not follow his words
00:38 and petrol became expensive.
00:40 Then the opposition of Noor League
00:42 said, "This man has increased it to Rs. 4."
00:44 "What is this man doing with Pakistan?"
00:46 He came to power.
00:48 He put aside Rs. 3, 4 and said,
00:50 "Rs. 15, Rs. 20, Rs. 21, Rs. 26, Rs. 24,
00:52 and now petrol has become Rs. 331."
00:54 So this means,
00:56 that even Imran Khan could not follow his words.
00:58 One innocent question is,
01:00 the increase of petroleum prices,
01:02 is it actually a political problem?
01:04 Or it has nothing to do with politics at all?
01:06 That this issue was created by politicians
01:08 for their political interests.
01:10 Because whoever is the leader,
01:12 when petrol becomes expensive,
01:14 he will be abused by the people.
01:16 And his political opponents will say,
01:18 "Look, he has ruined your business."
01:20 Although he also knows what is going to happen.
01:22 I remember,
01:24 when he was in the office,
01:26 he used to say, "Imran Khan has done this,
01:28 he has done that."
01:30 Then when it seemed that Imran Khan's government
01:32 was going to leave,
01:34 then he gave an interview to Naseem Zehra Sahiba.
01:36 When Naseem Zehra Sahiba asked him,
01:38 "What will you do about the petroleum prices?"
01:40 He said, "The prices will be according to the international market."
01:42 Then he did not say,
01:44 "We will make it cheaper."
01:46 Because it seemed that the government would be in power in two days.
01:48 Then he did not say.
01:50 So maybe it is not that these politicians
01:52 are making the people go around.
01:54 Actually, it has nothing to do with it.
01:56 If not, then the people should know
01:58 what is going on.
02:00 Today, we have invited three experts from this field.
02:02 Khakha Najeeb is an economist,
02:04 who keeps an eye on this issue.
02:06 Thank you very much, sir.
02:08 Asad Raza is a very important representative
02:10 of the oil marketing company.
02:12 He is the GM of a very important office.
02:14 So we will understand from him what he says.
02:16 Mozamil Aslam is an economist.
02:18 Of course, he also had an affiliation.
02:20 But what is the issue?
02:22 I would like to request all three of you
02:24 to keep this as academic as possible
02:26 and as less technical as possible.
02:28 Khakha, I am starting from you.
02:30 My first question to all three of you is the same.
02:32 Keep it as short, precise and easy as possible.
02:34 If the oil price is high in a country,
02:36 then what is the percentage of the government's
02:38 activity in that country?
02:40 Or is it a simple thing
02:42 that the government will pay a certain percentage of taxes
02:44 on the amount of oil that is available
02:46 and every government will pay the same percentage
02:48 of taxes that every government pays
02:50 and sells the oil.
02:52 Does this have any relation to the government's
02:54 activity or not?
02:56 Mr. Khakhaan.
02:58 Mr. Subedami, let's look at this in two contexts.
03:00 One is in the short run
03:02 and the other is in the long run.
03:04 In the short run,
03:06 it is happening that
03:08 since the value of one rupee
03:10 has weakened in Pakistan,
03:12 it has a very big impact.
03:14 But along with this,
03:16 the Arab Light, which matters to us,
03:18 is worth $96 per barrel.
03:20 If you go back three or four months ago,
03:22 it was worth $78 per barrel.
03:24 So you saw that
03:26 there was a 23% change in this.
03:28 And the third thing that happened
03:30 when you made an agreement
03:32 with the IMF,
03:34 which is the recent one,
03:36 two years ago it was a levy of 15 rupees,
03:38 then it became 30 rupees,
03:40 and now it is 60 rupees on petrol
03:42 and 50 rupees on high-speed diesel.
03:44 In the short run,
03:46 these are the three factors.
03:48 In the long run,
03:50 the main factor is that
03:52 Pakistan's own capacity of crude
03:54 has weakened
03:56 and we have had to depend
03:58 more on imports.
04:00 In 2022, there are 47 wells.
04:02 If you go back four years ago,
04:04 five years ago,
04:06 there were 110 wells.
04:08 So these are the factors of the long run
04:10 in which we have depended
04:12 and we have changed
04:14 our dependence on our energy
04:16 and put it on international
04:18 and this happened in the short run.
04:20 If your direct taxation
04:22 was much better in the short run,
04:24 then you could have done
04:26 that you would have negotiated
04:28 and said that we do not want to put PDL
04:30 or we want to put less PDL.
04:32 But remember that
04:34 there is 0% sales tax at the moment.
04:36 In the region,
04:38 the prices of petrol are low in Pakistan
04:40 but along with that,
04:42 it has to be said that
04:44 the purchasing power in the region
04:46 is less than that of Pakistan
04:48 compared to India or Bangladesh.
04:50 This is an overall scenario
04:52 which is present at the moment.
04:54 I understood you.
04:56 Before I move to my other guest,
04:58 if you want to quantify this,
05:00 the echo is coming.
05:02 If you want to quantify,
05:04 will you say 50-50
05:06 that buying in dollars
05:08 is better than buying in rupees?
05:10 If the dollar is strong
05:12 and your rupee is weak,
05:14 then the government's governance
05:16 factor comes in it.
05:18 You have to pay a levy
05:20 because IMF has said so.
05:22 You have to go to IMF
05:24 because you have not managed
05:26 your economy well.
05:28 The government can't do anything
05:30 in this.
05:32 So if we have to quantify
05:34 how much percentage of government
05:36 is doing this,
05:38 then it is a rough idea.
05:40 Of course, our macro fundamentals
05:42 are weak.
05:44 Our production capacity
05:46 is weak.
05:48 There is pressure on the rupee.
05:50 The inflows of the rupee are low.
05:52 There is pressure on the rupee.
05:54 When we have started trying
05:56 to fix these things,
05:58 like we did a crackdown
06:00 and took an administrative action,
06:02 then the rupee was justified.
06:04 We have not been able to fix
06:06 our fundamentals for many decades.
06:08 That is the reality.
06:10 Your production capacity
06:12 is weak everywhere.
06:14 Secondly, you have not done
06:16 drilling.
06:18 You have not done proper work
06:20 for many decades.
06:22 So that is also a thing
06:24 that is disturbing you.
06:26 Economic governance is a
06:28 traditional issue of Pakistan.