Javed Hassan

economist and former investment banker

Compiled from 5 recorded interviews. Every statement below is drawn from the passage cited beside it.

Javed Hassan is an economist and former investment banker, and the former chairman of the Economic Advisory Group. He was born in Kaduna, Nigeria, in 1965, grew up mainly in Nigeria, and studied civil engineering at Imperial College and business at London Business School. He worked in investment banking in London from 1992 to 2000, headed an insurance company and an investment bank in Pakistan, and moved into charity work in 2013.

Early life and background

Hassan was born in Kaduna, Nigeria, in 1965 and grew up mainly in Nigeria. His parents first worked in international service with a multilateral body before Nigeria's civil service recruited them. His father held a very senior civil service position in Nigeria, and Hassan has also said his father was an engineer. [5]

His parents went back to Bangladesh in 1969 and then returned to Nigeria. His family visited Pakistan every two years while they lived in Nigeria. Hassan has said the family kept its Pakistani identity and that his father was a strong patriot. He has said he studied in mud huts during his early primary education, and that his parents often spoke of saving for a rainy day. [4][5]

Education

Hassan completed his O-levels and A-levels in Nigeria in 1982. He studied civil engineering at Imperial College. He worked as an engineer for three years and then did a master's in engineering. He completed an MBA at London Business School between 1990 and 1992. [5]

Investment banking

After his MBA, Hassan moved into investment banking. He worked in investment banking in London from 1992 to 2000. He worked at Credit Lyonnais and one or two other banks. He also worked at Credit Suisse in Hong Kong as an investment analyst and fund manager. [5]

Hassan has said he lived in Hong Kong and Singapore. He has said he visited Argentina in 2001, when it defaulted. [5]

Return to Pakistan and charity work

By 2006 Hassan was married and had two children. In 2006 his then wife decided the family should return to Pakistan so the children could grow up there. He has said there was a sense of optimism in 2006 and many people were returning to Pakistan. He lived in Karachi from 2006 until 2018. After returning to Pakistan he headed an insurance company and then an investment bank. [5]

In 2013 Hassan left banking and moved into charity work. He became CEO of a foundation that does skills training. He has said he has worked in the donor business and in charities, and that he worked in the skills sector. In 2018 he moved to Islamabad because his father was ill. [4][5]

Government service

Hassan was asked to head the National Vocational Technical Training Commission. He has said NAVTTC carried out certification work so that it could act as a catalyst. In his view, NAVTTC should provide certification courses, set standards and build international links. [4][5]

Hassan has said he worked with the government at the Ministry of Information for two and a half to three months, and that he was chairman of his office during that work. He has said he resigned from that government work. He has also said he worked for a time with the Ministry of Education. He has said he was part of the PTI government but is not really a leading member of PTI. [3][4][5]

Economic Advisory Group

Hassan is an economist and the former chairman of the Economic Advisory Group. He helped set up the group, a small group of economists, and has said he is a member of it. He has said the group's report is available online and runs to about 20 pages. In his account, the report sets out policy actions, not only problems. [3][5]

Views on the economy

Hassan has said the economy is in a very bad state. He has said poverty has risen to around 40 to 45 percent, and that much of the population is precariously poor and one event away from the poverty line. He has said GDP growth in fiscal year 2023-24 was barely 0.2 percent, that per capita GDP has not grown in three to four years, and that average income is falling. He has put growth over the past six years at around 2.5 to 3 percent on average, and has said that without structural change growth will stay between 0 and 2 percent. [2]

Hassan has said load shedding has returned on a continuous basis, that some hospitals have stopped elective procedures, that many pharmaceuticals have disappeared from the market, and that there are queues at petrol stations. He has said continued stagnation could lead to social upheaval and that outbursts of civil disobedience are possible everywhere. He has said hopelessness is showing up in different ways across society. [2][3]

Hassan has described the economy as having a fundamental structural problem that needs fixing, and has said the first step is to recognise that something is seriously wrong. He has said Pakistan uses IMF facilities for working capital rather than for structural change, and that the numbers show there is no real reform. He has said the economy is not an accounting exercise because it has feedback loops, and that finance ministers, often from accounting or banking, treat it as one. He has also said economics is closely tied to politics, that Pakistan should not waste the current crisis, and that making economics easy to understand has always been his struggle. [2][4]

Views on budgets and taxation

Hassan has said the budget is directionless and contains no structural change. He has said the 2021-22 budget was actually quite damaging. He has said Pakistan was growing quite well without any expansionary policy, and that its growth was about 4.5 percent and was later found to be 6 percent. He has said negative real interest rates raise consumption and reduce savings, and that Pakistan cannot take an expansionary route without first restructuring the economy. [2][3]

He has said tax to GDP is about 9.5 to 10 percent and should be at least 13 to 14 percent. He has also given the federal tax to GDP ratio as 10 percent. He has said about 57 percent of revenue goes to the provinces, and, on another occasion, that 56 percent of federal tax goes to the provinces under the NFC award. He has said almost all of the federal budget goes to interest payments, that government borrowing was about 8.3 percent of GDP last year, and that the fiscal deficit comes to about 7 percent of GDP. [2][4]

Hassan has said internal debt has reached about 60 trillion, with about 8.5 to 9 trillion paid in interest. He has said tax collection is narrowly focused. He has said people who hold many houses pay no capital gains tax, that many doctors and lawyers take payment in cash, and that people like him pay less tax than people in India. He has said GST is expected to rise to 18 percent, that subsidies for agricultural tube wells may be withdrawn, and that electricity tariffs could rise by 7.5 to 12 rupees per unit. [2][3][4]

Views on debt and default

Hassan has said Pakistan avoids talking about default because people fear the word, and that changing the terms of equity or debt would count as default. He has said Pakistan has been living through a partial default scenario, is at the cusp of default and keeps avoiding it, and is near the cusp of disaster. He has said Pakistan will reach default if it does not get its structural changes right, and that two standard measures of repayment ability both show it moving toward default. [2][4]

He has said a country that keeps borrowing will default at some point, and that Pakistan will hit a wall at some point. He has said declaring default brings creditors to the table. He has said lenders could take a haircut, such as reducing 20 billion to 16 billion, and that there should be a deferment of further payments followed by a longer repayment period. He has said interest rates were never the problem, but the repayment schedule was, and he has suggested stretching payments due over five years to 10 or 15 years. He has said talk of a moratorium would bring an initial crisis, and that debt restructuring is not meant to create chaos. [2][4]

Hassan has said Ghana defaulted, restructured and is starting to grow again, and that Sri Lanka defaulted and is now getting back on a growth path. He has said restructuring took Sri Lanka and Ghana about two years each. He has said India went through a crisis in 1991-92 and never looked back, and that India exited its IMF program within about a year and a half of its crisis. He has said countries that default and restructure can improve their chances of growth, and that a company that exits Chapter 11 can raise more money from markets. He has said Pakistan went through a restructuring in 2003. [2][3]

He has said lenders want Pakistan to carry out real internal restructuring as well, and do not want to give it another chance to be wasteful. He has said the government must be honest with people about the hard period ahead. He has said most of the 26 billion due is expected to be rolled over, and that rolling over debt each year makes the repayments grow. He has said a debt rollover depends on Pakistan being inside an IMF programme, and that Pakistan will need a new IMF program and will have to talk about restructuring its debt. He has said debt restructuring is needed because devaluation alone will not be enough. [2][3][5]

Hassan has said Pakistan's external borrowing was about 60 billion and is now about 125 billion, and that Pakistan added about 60 billion in borrowing over the last eight to nine years. He has said borrowing rose by about 30 billion between 2013 and 2018, and that the Paris Club extended Pakistan's loans for about 10 to 15 years. He has said Pakistan still faces potentially 100 to 120 billion in repayments, about 110 to 120 billion over the next three years, with debt repayment outflows of about 22 to 25 billion a year. He has said Pakistan has about 18 billion dollars of repayments due in the next 12 months, financing needs of about 30 billion dollars over that period, and usable reserves of about 3 billion dollars. He has also said Pakistan had three to four weeks left before it defaults. [3][5]

Hassan has said Pakistan's credit default swap rate rose from 6 to 7 percent to as high as 85 percent, and that at 40 percent or above a country is cut out of international credit markets. He has said the rate rose from about 5 percent to 15 percent after the no-confidence vote, and that political instability followed that vote. He has said Pakistan's debt problems reflect negligence, thoughtlessness and lack of planning, and that many of its loans have had very low returns, especially in dollar terms. He has said Pakistan is currently in negative equity. He has said asset sales could raise at most about 8 to 10 billion, and that selling the DISCOs may raise one or two billion. [3][4]

Hassan has said the IMF growth projection assumes about 15 billion dollars of private investment, and that this level is quite unrealistic because Pakistan has never seen it. He has said foreign investors invest only when they see real growth in Pakistan, and that foreign investment has been extractive, citing gold mined at Reko Diq and sold. He has said Pakistan will not see major inflows from international investors and that overseas Pakistanis are losing confidence. He has said investment by overseas Pakistanis in real estate will not make the economy better, and that Pakistan received about 100 billion from overseas Pakistanis in roughly three and a half to four years. He has said the IMF is asking Pakistan to expand the Ehsaas and BISP programs, and that the current IMF program ends in June. He has said the right decisions include ending petrol subsidies and following IMF conditions. [2][3][5]

Views on the currency and external accounts

Hassan has said the rupee moved from about 200 to about 280 in the past one to two years, and that it has fallen by about 60 percent in the last two years. He has said the rupee could fall to 330 and that this would create inflation. He has said a 30 to 40 percent depreciation is likely over the next three years, and has questioned the assumption that the rupee will stop falling. He has said the currency is certain to devalue, and that a rupee rate of 220 is not the end of the world in the short term. [2][3][5]

He has said imports fell from about 80 billion dollars in 2022 to about 55 billion, and that falling imports mean the economy is not growing. He has said exports rose from about 26 to 27 billion dollars to about 30 billion this year. He has said Pakistan's current account moved from a surplus to a deficit, that it will not become a current account surplus economy, and that the current account deficit averages about 1 to 1.5 billion dollars a month. He has said the balance of payments deficit fell from 1.3 billion dollars in July to 700 million. [2][3][4][5]

Hassan has said Pakistan's growth needs to be at least 6 percent a year, and that it cannot grow 6 to 7 percent for four to five years without restructuring its economy. He has said population growth continues at about 2 percent a year, and in another account about 2.5 to 2.6 percent a year. He has said remittances are not the way to grow, and that production capacity is. He has said remittances mostly go into consumption or real estate, and that property is one of the least productive forms of investment. He has said Pakistan's savings ratio averages around 11 to 12 percent. [2][3][4][5]

Views on the power sector

Hassan has said the core energy problem arises from capacity payments, and that capacity payments have not peaked in rupee terms. He has said capacity payments rose partly because the payments were guaranteed in dollars. He has said installed capacity was about 23,000 megawatts in 2013, when brownouts were common, and that the IPP contracts promised extraordinary returns to the companies that set up the plants. He has said most of these contracts are 25-year contracts, that about 80 percent of the project cost is borrowed and repaid over 10 years, and that equity returns of 17.5 to 18 percent are paid for up to 25 years. He has said most of these power projects are under the CPEC framework. [2]

He has said Pakistan's guaranteed profit on power plants is higher than in India and Bangladesh, which he has said have both been growing above 5 percent. He has said the Sahiwal plant has rarely run above 30 to 35 percent, yet its full cost is paid. He has also put its running rate at about 30 to 40 percent of capacity. He has said that without growth, the per-unit cost of power keeps rising, and that high power prices are draining money from the other sectors of the economy. He has said households using under 300 units are not the middle class but a protected lifeline group. [2][4]

Hassan has said capacity payments could be cut by renegotiating the terms, which he links to default, or by growing 6 to 7 percent. He has said the equity returns and debt repayments are sovereign guaranteed, and that the IMF has largely advised renegotiating these contracts. He has said lowering line losses is a distraction from the energy problem. He has said line losses are already at 18 percent and called cutting them a red herring and a distraction. He has said load shedding mainly comes from a shortage of fuel for power. [2][4]

Views on trade and industry

Hassan has said Vietnam grew at about 9 to 10 percent almost continuously from 1999 onwards. He has said Vietnam's per capita GDP was about 30 percent below Pakistan's in 1990, and that it is about 3,500 dollars against about 1,600 dollars for Pakistan. He has also given those figures as near 3,000 dollars for Vietnam against about 1,700 for Pakistan. He has said Bangladesh and Vietnam have caught up with and moved ahead of Pakistan, and that Pakistanis are not any worse than the Vietnamese or the Bangladeshis. [2][3][4][5]

He has said Pakistan's GDP is less than 0.3 percent of global GDP, and that Pakistan has roughly 2.5 to 4 percent of the world's population. He has said Pakistan's imports are about 15 to 16 percent of GDP, that its exports are less than 10 percent of GDP, and that Vietnam's trade is close to 100 percent of its GDP. He has said Pakistan needs to open up to the rest of the world, and that import substitution was dropped in the Far East in the 1970s. He has said Pakistan's exports were stuck around 20 to 24 billion dollars for several years, and that its export value per unit has stayed near 3 dollars for about 30 years. [3][4][5]

Hassan has said Pakistan's potential exports to China are at least 15 billion, possibly 20 billion, and that Pakistan currently exploits only about 2 to 3 billion of that potential. He has said China could be a market of about 15 trillion dollars. He has said Pakistan has not exploited the opportunities involved in CPEC, and that much of China's investment went into Pakistan's power sector, which was not the best investment. He has said better relations with India are not impossible. [3]

He has said Pakistan could export about 10 billion dollars, with human skills as a main shortage. He has said Pakistan imports Italian marble despite having some of the best marble in the world, and that it may have one of the largest olive productions in the world. He has said Pakistan has not branded its exports and that export promotion bureaus should do so. He has said Vietnam and Thailand attract foreign investment to make goods for global sale. He has said maize has grown about four times over in ten years and that the IT business has grown to exports of about 2 billion dollars. He has said organic farming is widespread in the northern areas but has not been well marketed or certified, and that organic food sells at about three times the price. [4]

Views on governance and society

Hassan has said Pakistan has an extractive elite that takes subsidies and protection without hard work or risk, and that this cannot continue. He has said the elite consensus will no longer be able to get away with it, and that Pakistan's economy has created its own incentive structures. He has said Pakistan has long sought geopolitical rents. He has said Pakistan needs some redistribution of wealth to poor people, and that the poorest should receive targeted subsidies for oil and food, or Pakistan will face hunger. [3][4][5]

He has said there is a lack of confidence in the leadership and that a large section of society wants an election. He has said Pakistan needs a political government with a mandate from the people to make difficult decisions. He has said technocratic government is a code word for dictatorship, and that Pakistan needs much more democracy and devolved democracy. He has said the public is ready to sacrifice but needs a clear vision, and that reform can build on itself quickly, creating a virtuous cycle. [3][4]

Hassan has said about 70 to 80 percent of the bureaucracy is underemployed, and that 97 percent of Pakistan's bureaucracy is below grade 15. He has said the annual pension bill has grown to about 1.3 trillion. He has said Pakistan Steel has been unprofitable for about 15 years, and that about 95 percent of its staff do not come to work but still draw salaries. He has said a report shows Pakistan has seen the highest number of talent leaving the country. [2][4]

He has said the Planning Commission put flood damage at about 28 billion dollars, and that the floods may be a time for land redistribution. He has said Pakistan has one of the lowest numbers of bank account holders in the world. He has said Pakistan's focus has to be on productive capacity and job creation, and that it should create a society where people take risks and are fairly rewarded. He has said he admires a famous economist and philosopher. [4][5]

Views on education and skills

Hassan has said Pakistan should focus on vocational and technical training, such as welding. He has said Pakistan has one of the youngest populations in the world and that its population is about 220 million. He has said intelligence is equally distributed across the population, and that every citizen should have an equal right to aspire to the highest. He has said what matters most in education is a home that values learning and good teachers. [5]

Timeline

1965: Born in Kaduna, Nigeria.[5]
1969: His parents went back to Bangladesh and then returned to Nigeria.[5]
1982: Completed O-levels and A-levels in Nigeria.[5]
1990: Began an MBA at London Business School, completed in 1992.[5]
1992: Began working in investment banking in London, until 2000.[5]
2001: Visited Argentina, which had defaulted.[5]
2006: Returned to Pakistan with his family and lived in Karachi until 2018.[5]
2013: Left banking and moved into charity work.[5]
2018: Moved to Islamabad because his father was ill.[5]

Appearances

Date	Title	Where
2026-04-02	Pakistan's elite never had to deliver — that's about to change	Thought Behind Things
2024-07-08	How 2 trillion PKR in capacity payments is choking Pakistan's economy	Thought Behind Things
2023-02-24	All roads lead to restructuring	Thought Behind Things
2022-10-03	Pakistan is near the cusp of disaster	Thought Behind Things
2022-05-23	Pakistan has three to four weeks before it defaults	Thought Behind Things

Frequently asked questions

Who is Javed Hassan?

Javed Hassan is an economist and the former chairman of the Economic Advisory Group. He was an investment banker in London from 1992 to 2000. He later headed an insurance company and an investment bank in Pakistan.[3][5]

What does Javed Hassan do?

Javed Hassan is an economist. He has said he is a member of the Economic Advisory Group, a small group of economists he helped set up. He has also said he worked in the skills sector and in charities.[3][4][5]

Where did Javed Hassan study?

Javed Hassan studied civil engineering at Imperial College. He completed an MBA at London Business School between 1990 and 1992. He completed his O-levels and A-levels in Nigeria in 1982.[5]

Where is Javed Hassan from?

Javed Hassan was born in Kaduna, Nigeria, in 1965 and grew up mainly in Nigeria. He has said his family kept its Pakistani identity while living in Nigeria. He returned to Pakistan in 2006 and lived in Karachi until 2018, when he moved to Islamabad.[5]

When did Javed Hassan return to Pakistan?

Javed Hassan returned to Pakistan in 2006. He has said his then wife decided the family should go back so the children could grow up there. After returning he headed an insurance company and then an investment bank.[5]

What has Javed Hassan said about default?

Javed Hassan has said Pakistan avoids talking about default because people fear the word. He has said Pakistan has been living through a partial default scenario. He has said declaring default brings creditors to the table, and that countries that default and restructure can improve their chances of growth.[2][3]

References

Pakistan's elite never had to deliver — that's about to change . Thought Behind Things , 2026-04-02.
How 2 trillion PKR in capacity payments is choking Pakistan's economy . Thought Behind Things , 2024-07-08.
All roads lead to restructuring . Thought Behind Things , 2023-02-24.
Pakistan is near the cusp of disaster . Thought Behind Things , 2022-10-03.
Pakistan has three to four weeks before it defaults . Thought Behind Things , 2022-05-23.

Show the source passages (276 statements)

The episode description names the guest as Mr. Javed Hassan. with Mr. Javed Hassan. Tonight, we dive deep into the state of the economy
The episode description links to a Twitter account for Javed Hassan. Javed Hassan’s Twitter:
Javed Hassan has said the economy is in a very bad state right now. Asal baat hai ke economy ki badi buri halat hai abhi aur aap aam awaam ke bare mein sochein
Javed Hassan has said poverty has risen to around 40 to 45 percent. Toh ab poverty level now is gone up to 40-45%.
Javed Hassan has said much of the population is precariously poor and one event away from the poverty line. they are also basically precariously poor. They are one event away ke woh poverty line mein aa jayein.
Javed Hassan has said GDP growth in fiscal year 2023-24 was barely 0.2 percent. 23 to 24 jo abhi jo guzra hai saal, usme barely .2% GDP growth hai.
Javed Hassan has said per capita GDP has not grown in three to four years. isi liye aapki per capita GDP pichle koi teen char saal se badhi hi nahi hai.
Javed Hassan has said average income is falling. average income jo hai woh kam hoti ja rahi hai
Javed Hassan has said inflation rose to around 35 to 38 percent at its peak. inflation jo hai woh koi 25%, 30% tak pahunch gayi thi, in fact 35-38% tak thi.
Javed Hassan has said taxes were raised on the salaried class and the urban middle class. jo salaried class hai, jo urban middle class hai, un par taxes aur laga diye gaye.
Javed Hassan has said packaged milk costs more than it does in Paris. Ek litre doodh jo hai package doodh, woh Paris se bhi zyada mehngi hai.
Javed Hassan has said the budget is directionless and contains no structural change. Unfortunately, yeh kafi directionless budget tha. Yeh koi bhi isme aisi cheez nahi hai jisme structural change hai.
Javed Hassan has said tax to GDP is about 9.5 to 10 percent and should be at least 13 to 14 percent. tax to GDP is around 9.5 10%. It needs to be about at least 13-14%
Javed Hassan has said almost all of the federal budget goes to interest payments. virtually everything of your federal uh budget is used up in interest payments.
Javed Hassan has said government borrowing was about 8.3 percent of GDP last year. wo borrowing jab karte hain toh naturally pehle hum log koi 7-8% of GDP, last year koi 8 8.3% tha
Javed Hassan has said internal debt has reached about 60 trillion, with about 8.5 to 9 trillion paid in interest. jo ab koi 60 trillion par pahunch gayi aur us par koi 8.5 9 trillion aap uh uh interest pay kar rahe hain
Javed Hassan has said tax collection is narrowly focused. aapki jo tax collection hai, wo bahut narrowly focused hai
Javed Hassan has said about 57 percent of revenue goes to the provinces. hum log almost usko distribute karte hain koi 57% to provinces
Javed Hassan has said the rupee moved from about 200 to about 280 in the past one to two years. Koi do saal ek saal pehle koi 200 tha, ab 280 hai lagbhag.
Javed Hassan has said the rupee could fall to 330 and that this would create inflation. Uh you might see it go down to 330. That will create inflation.
Javed Hassan has said the rupee has fallen by about 60 percent in the last two years. Pakistan mein just in the last uh two years it has fallen by about 60%.
Javed Hassan has said a 30 to 40 percent depreciation is likely over the next three years. Toh agle teen saal mein koi 30 se 40% aap ki depreciation aa jayegi.
Javed Hassan has questioned the assumption that the rupee will stop falling. Yeh assumption hai ke aap ki rupee ab devalue nahi kar rahi. Yeh kitni realistic assumption hai?
Javed Hassan has said capacity payments have not peaked in rupee terms. Toh yeh aap nahi keh sakte hain ke capacity payments peak kar gayi at least in rupee terms.
Javed Hassan has said capacity payments rose partly because the payments were guaranteed in dollars. Ek toh aap ki rupee isliye ki yeh sara dollar mein guaranteed tha. Yeh aap ko sara dollar mein payment pay karna tha.
Javed Hassan has said Pakistan's guaranteed profit on power plants is higher than in India and Bangladesh. hamari jo profit guarantee thi woh higher than India definitely it's also higher than Bangladesh
Javed Hassan has said India and Bangladesh have both been growing above 5 percent. Bangladesh, India have both been growing in excess of 5%.
Javed Hassan has said growth over the past six years has been very low, around 2.5 to 3 percent on average. pichle 6 saal se virtually zero growth rahi hai, bahut kam growth rahi hai. Koi average koi 2 and a half 3% growth rahi hai.
Javed Hassan has said the Sahiwal plant has rarely run above 30 to 35 percent, yet its full cost is paid. Sahiwal jo kabhi 30-35% zyada uski istemaal nahi hui magar hum 100% uska jo cost hai pay kar rahe hain.
Javed Hassan has said that without growth, the per-unit cost of power keeps rising. aur aap ki growth nahi ho toh naturally aap ko per unit cost barhti jati hai
Javed Hassan has said households using under 300 units are not the middle class but a protected lifeline group. Jo less than 300 units kar kar rahe hain that is not your middle class. That's the protected and lifeline.
Javed Hassan has said high power prices are draining money from the other sectors of the economy. Toh aap ne ek sector ko toh bara acha kar diya magar aap basic dusre saare dusre sectors ko khatam kar rahe hain
Javed Hassan has said installed capacity was about 23,000 megawatts in 2013, when brownouts were common. hamare paas installed capacity thi koi 23,000 megawatts ki in in 2013 mein. Aur woh bahut chalna chahta tha, brownouts ho rahe the
Javed Hassan has said the IPP contracts promised extraordinary returns to the companies that set up the plants. these contracts were truly unique in the feature that they had extraordinary returns promised to the the the the company setting them up
Javed Hassan has said about 80 percent of the project cost is borrowed and repaid over 10 years. Yeh cost of project hai uski 80% jo hai woh borrowings hai. Woh borrowing aap 10 saal mein payback kar rahe hain
Javed Hassan has said most of these contracts are 25-year contracts. Yeh zyada tar contracts 25 year contracts hain.
Javed Hassan has said equity returns of 17.5 to 18 percent are paid for up to 25 years. us par aap 17.5%, 18% pay karte jayenge uh till 25 years
Javed Hassan has said most of these power projects are under the CPEC framework. These these most of these projects are under the CPEC framework.
Javed Hassan has said lowering line losses is a distraction from the energy problem. Yeh literally this is a distraction and we should stop this distraction.
Javed Hassan has said the core energy problem arises from capacity payments. the problem arises from capacity payments.
Javed Hassan has said capacity payments could be cut by renegotiating the terms, which he links to default, or by growing 6 to 7 percent. Either aap renegotiate karein the terms jisse kehte hain default ya aap ek bag jo hai uh aap 6-7% GDP growth karne lagein
Javed Hassan has said Pakistan cannot grow 6 to 7 percent for four to five years without restructuring its economy. Pakistan is not in a position to grow at 6-7% for the next 4-5 years at least until it undergoes restructuring of its basic economy.
Javed Hassan has said Pakistan avoids talking about default because people fear the word. just because we are so fearful of the word default we don't want to talk about it.
Javed Hassan has said changing the terms of equity or debt would count as default. Changing the terms either of the equity or the uh or or the debt will count as default.
Javed Hassan has said the equity returns and debt repayments are sovereign guaranteed. both the equity returns and the debt uh pay repayments are sovereign guaranteed
Javed Hassan has said the IMF has largely advised renegotiating these contracts. We will need to go and renegotiate these contracts and this is what by and large IMF has said.
Javed Hassan has said Ghana defaulted, restructured and is starting to grow again. Ghana mein default hua hai. It restructured it's starting to grow again.
Javed Hassan has said Sri Lanka defaulted and is now getting back on a growth path. They defaulted now they are getting back on the growth path.
Javed Hassan has said he thinks Pakistan will hit a wall at some point. I think at some point we will hit the wall anyway.
Javed Hassan has said a country that keeps borrowing will default at some point. At some point they default anyway. Uh I mean, if you can't if you can't borrow uh uh internationally, which we can't
Javed Hassan has said imports fell from about 80 billion dollars in 2022 to about 55 billion. 2 saal pehle 2022 mein 80 billion dollars hoti thi ab woh ghat ke 55 billion dollars ho gayi hai
Javed Hassan has said falling imports mean the economy is not growing. imports coming down basically means you are not growing
Javed Hassan has said exports rose from about 26 to 27 billion dollars to about 30 billion this year. It has gone up from about 26-27 billion to this year about 30 billion dollars.
Javed Hassan has said population growth continues at about 2 percent a year. imagine our population continues to grow at 2%
Javed Hassan has said most of the 26 billion due is expected to be rolled over. Majority of this 26 billion is going to be rolled over
Javed Hassan has said a moratorium talk would bring an initial crisis. initially there will be a crisis inevitably when you start that noise of start sounding out ki moratorium karne wale hain
Javed Hassan has said Pakistan has been living through a partial default scenario. We have been effectively living through a a a a partial default scenario anyway.
Javed Hassan has said declaring default brings creditors to the table. What you do by saying default, you start getting the creditors coming and to the table
Javed Hassan has said lenders could take a haircut, such as reducing 20 billion to 16 billion. Unne haircut le sakte hain jismein uh aap uh uh jo agar 20 billion hai usko 16 billion kar dein.
Javed Hassan has said there should be a deferment of further payments, followed by a longer repayment period. There should be a deferment of any further payment. And after that we can have a a a elongated period of uh of payment.
Javed Hassan has said interest rates were never the problem; the repayment schedule was. The the interest rates was never the problem. The problem was the debt schedule, the repayment schedule.
Javed Hassan has said restructuring took Sri Lanka and Ghana about two years each. It has taken Sri Lanka about 2 years, it's taken Ghana about 2 years.
Javed Hassan has said lenders want Pakistan to carry out real internal restructuring as well. They want you to do some real internal restructuring as well.
Javed Hassan has said lenders do not want to give Pakistan another chance to be wasteful. don't don't want to give you an opportunity to be wasteful again.
Javed Hassan has said the government must be honest with people about the hard period ahead. It needs the government will have to be honest with the people and say ki we will go through this difficult time.
Javed Hassan has said the economy has a fundamental structural problem that needs fixing. We need to realize there is a fundamental structural problem.
Javed Hassan has said foreign investors invest only when they see real growth in Pakistan. Because they they really will only invest when they really feel ki Pakistan mein kuch rakha hua hai, iski naturally growth hai.
Javed Hassan has said foreign investment has been extractive, citing gold mined at Reko Diq and sold. Ek ek cheez hai extractive investment jismein aapne Reko Diq mein kaha, gold nikala, usko becha
Javed Hassan has said without structural change, growth will stay between 0 and 2 percent. And if we don't take change the structure, we will be stuck in this 0 to 2% growth for I don't know how long.
Javed Hassan has said continued stagnation could lead to social upheaval. And that is unsustainable simply because aapki population badhti jayegi and at some point you can have social upheaval.
Javed Hassan has said outbursts of civil disobedience are possible everywhere. this is going to be there will be outbursts of such uh such uh civil disobedience possible everywhere.
Javed Hassan has said hopelessness is showing up in different ways across society. But woh basically the lack of the hopelessness is basically manifesting in different ways.
Javed Hassan has said a report shows Pakistan has seen the highest number of talent leaving the country. this was just a report, Pakistan has seen the highest number of talent pool leaving the country
Javed Hassan has said remittances are not the way to grow, and production capacity is. Remittances are not the way to grow. The way to grow is to really increase your uh production capacity in the country
Javed Hassan has said debt restructuring is not meant to create chaos. this is not with the view of creating chaos and creating uh disruption
Javed Hassan has said he hopes the bleak outcome does not happen. I certainly hope this does not play out.
Javed Hassan has said the first step is to recognise that something is seriously wrong. the first step is for us to really begin to realize there is something seriously wrong
Javed Hassan has said making economics easy to understand has always been his struggle. Was it easy to understand? That was my struggle always.
Javed Hassan has said Pakistan uses IMF facilities for working capital rather than for structural change. And that is fundamentally what we use the IMF facilities for, not to bring about the structural change.
Javed Hassan has said the numbers show there is no real reform. Magar when you look at the numbers, when you look at the overall economic direction, there is no reform
Javed Hassan has said Vietnam grew at about 9 to 10 percent almost continuously from 1999 onwards. from 1999 onwards they did not look back, they started growing at sort of 9-10% almost continuously
Javed Hassan has said India went through a crisis in 1991-92 and never looked back. In in 1991-92 they went through their crisis and then they went through a difficult period and then after that they never looked back.
Javed Hassan has said the IMF growth projection assumes about 15 billion dollars of private investment. 3.5% jo assume kar rahi hai IMF growth is saal 24-25 mein, usmein assume kar rahi hai ki aapko private sector credit koi uh aur and investment koi 15 billion dollar aa jayega.
Javed Hassan has said that level of investment is quite unrealistic, as Pakistan has never seen it. Ab Pakistan ki history mein itna nahi aaya. So, that is quite unrealistic.
Javed Hassan has said Pakistan is at the cusp of default and keeps avoiding it. So, really we are at the cusp of default, we just keep avoiding it
Javed Hassan has said the economy is not an accounting exercise because it has feedback loops. It's not an accounting exercise. Ismein feedback loops hote hain.
Javed Hassan has said finance ministers, often from accounting or banking, treat the economy as an accounting exercise. our bureaucrats and our finance ministers who come from very often accounting or banking, they treat it as an accounting exercise.
Javed Hassan is an economist and the former chairman of the Economic Advisory Group. Javed Hassan is an economist and the former chairman of the Economic Advisory Group.
Javed Hassan has said he was part of the PTI government but is not really a leading member of PTI. Since I was part of that government I said but I'm not really a leading member of PTI.
Javed Hassan has said the 2021-22 budget was actually quite damaging. ji 21, 22 budget was actually quite damaging.
Javed Hassan has said Pakistan was growing quite well without any expansionary policy. Without any expansionary policy we were growing quite well.
Javed Hassan has said Pakistan's growth was about 4.5 percent and was later found to be 6 percent. 4 and a half percent, in fact baad mein pata chala 6% growth thi.
Javed Hassan has said negative real interest rates raise consumption and reduce savings. Woh agar hota hai toh logon ki consumption ki tendencies badh jaati hai, savings nahi karte hain.
Javed Hassan has said Pakistan's current account moved from a surplus to a deficit. Current account balance tha na surplus, then we suddenly went into current account deficit.
Javed Hassan has said Pakistan cannot take an expansionary route without first restructuring the economy. we cannot go down that expansionary route now without restructuring first the economy.
Javed Hassan has said Pakistan needs some redistribution of wealth to poor people. We need some redistribution of wealth to the to poor people.
Javed Hassan has said Pakistanis are not any worse than the Vietnamese or the Bangladeshis. We are not any worse than the Vietnamese or the Bangladeshis.
Javed Hassan has said Pakistan's economy has created its own incentive structures. But we have created incentive structures economy mein
Javed Hassan has said the elite consensus will no longer be able to get away with it. Now the elite consensus will not be able to get away with it.
Javed Hassan has said investment by overseas Pakistanis in real estate will not make the economy better. Getting overseas Pakistanis to invest in real estate jo least productive aapka sector hai will not actually make your economy better.
Javed Hassan has said Pakistan received about 100 billion from overseas Pakistanis in roughly three and a half to four years. in the last three and a half, four years we have had about 100 billion if you think about it from overseas Pakistanis.
Javed Hassan has said the IMF is asking Pakistan to expand the Ehsaas and BISP programs. IMF ye bhi keh raha hai ke jo Ehsaas program hai na BISP program hai usko aap expand karein.
Javed Hassan has said the current IMF program ends in June. Ye jo program hai, it comes to an end in June this year.
Javed Hassan has said Pakistan will need a new IMF program. you will still need IMF to a certain extent and the fact of the matter is aapko phir ek naya program karna padega.
Javed Hassan has said Pakistan will have to talk about restructuring its debt. we will have to bite the bullet and talk about restructuring.
Javed Hassan has said Pakistan will not become a current account surplus economy. we are not going to be a current account surplus economy.
Javed Hassan has said asset sales could raise at most about 8 to 10 billion. Again as I said maximum about 8-9-10 billion no more than that.
Javed Hassan has said selling the DISCOs may raise one or two billion. I think discos even that may raise one or two billion
Javed Hassan has said Pakistan still faces potentially 100 to 120 billion in repayments. But we still are talking about potentially 100 billion 120 billion that we need to pay back.
Javed Hassan has said Pakistan must repay about 110 to 120 billion over the next three years. To woh jab milate hain to all together aapko koi 110-120 billion pay karna hai agle teen saal mein.
Javed Hassan has said Pakistan's debt repayment outflows are about 22 to 25 billion a year. Uski outflow har saal koi 22 se 25 billion hai depending on the year.
Javed Hassan has said rolling over debt each year makes the repayments grow. Ye isliye ke hum log rollover karte jaate hain aur har saal aage badhate hain to woh badhti jaati hai.
Javed Hassan has said Pakistan's external borrowing was about 60 billion and is now about 125 billion. Hamara loan hota external borrowing hoti thi koi 60 billion ab hai koi 125 billion ke kareeb.
Javed Hassan has said Pakistan added about 60 billion in borrowing over the last eight to nine years. in the last 8-9 years we have added about 60 billion.
Javed Hassan has said borrowing rose by about 30 billion between 2013 and 2018. Aapne between especially between 2013 and 2018 kafi saari borrowing koi 30 billion se aapne apna loans badhaye.
Javed Hassan has said the Paris Club extended Pakistan's loans for about 10 to 15 years. Woh phir koi 10-15 saal Paris Club ne loans aage badha diye the.
Javed Hassan has said Pakistan went through a restructuring in 2003. hum log ne 2003 mein bhi hamari restructuring hui thi.
Javed Hassan has said political instability followed the vote of no confidence. hamare yahan jo vote of no confidence ke baad jo instability aayi hai
Javed Hassan has said Pakistan's debt problems reflect negligence, thoughtlessness and lack of planning. It's quite a lot of negligence, it's quite a lot of thoughtlessness, lack of planning
Javed Hassan has said many of Pakistan's loans have had very low returns, especially in dollar terms. Hamari jo loans liye hain generally loans aise liye hain ke jo uski returns jo hain especially in terms of dollars bahut hi kam ho.
Javed Hassan has said Pakistan is currently in negative equity. So effectively hum log negative abhi equity mein hain.
Javed Hassan has said Pakistan's credit default swap rate rose from 6 to 7 percent to as high as 85 percent. credit default swap. Maine shayad pehle bhi mention kara tha woh 6-7% tha before 7th of April. Woh ek baag 20% gaya. Uske baad badhte badhte even 85% tak gaya.
Javed Hassan has said that at 40 percent or above, a country is cut out of international credit markets. Effectively anytime you are above 40% it means you are cut out of the credit markets internationally.
Javed Hassan has said electricity tariffs could rise by 7.5 to 12 rupees per unit. Anything between 7 and a half rupees to as much as 12 rupees per unit.
Javed Hassan has said GST is expected to rise to 18 percent. GST jo hai woh aapka 7-17% se 18% jaane wala hai.
Javed Hassan has said subsidies for agricultural tube wells may be withdrawn. Agriculture tube wells par woh shayad band kara jayega.
Javed Hassan has said the currency is certain to devalue. Aapki currency toh devalue honi hi honi hai.
Javed Hassan has said debt restructuring is needed because devaluation alone will not be enough. we probably really now need to focus on debt restructuring, just devaluing will not be enough.
Javed Hassan has said there is a lack of confidence in the leadership. there is a certain lack of confidence in the leadership that we have.
Javed Hassan has said a large section of society wants an election. there is a certain large section of society which would want an election.
Javed Hassan has said Pakistan needs a political government with a mandate from the people to make difficult decisions. you will need a political government which has a mandate of the people.
Javed Hassan has said he is more pessimistic than in past conversations and expects things to go bad this time. I've never been so pessimistic. This time around I really feel things will go bad.
Javed Hassan has said Pakistan will not see major inflows from international investors. You are not going to see major inflows from international investors.
Javed Hassan has said overseas Pakistanis are losing confidence. They they are losing confidence.
Javed Hassan has said Pakistan's growth needs to be at least 6 percent a year. 6, 7%, 6 toh minimum honi chahiye.
Javed Hassan has said Pakistan's population grows by about 2.5 to 2.6 percent a year. hamara population jo hai koi 2.5, 2.6% se har saal grow kar rahi hai.
Javed Hassan has said load shedding has returned on a continuous basis. Load shedding shuru ho gayi hai again on a continuous basis
Javed Hassan has said some hospitals have stopped elective procedures. Kuch hospitals jo hain electives band kar diye hain.
Javed Hassan has said many pharmaceuticals have disappeared from the market. Pharmaceutical kafi sare dawai market se gayab ho gayi hain.
Javed Hassan has said there are queues at petrol stations. Aaj aapne suna hi hoga queues hain petrol stations par.
Javed Hassan has said India exited its IMF program within about a year and a half of its crisis. Then frankly speaking, India turned itself around actually. Believe it or not and you'll find that within a year and a half. Once it went into the crisis, it was out of the IMF program within a year and a half
Javed Hassan has said the public is ready to sacrifice but needs a clear vision. Awam is actually very ready to sacrifice. But they need a clarity of vision.
Javed Hassan has said reform can build on itself quickly, creating a virtuous cycle. Ek dafa aap reform shuru kar jate hain. To usme ek bahut virtuous cycle hota hai. It builds on itself very quickly.
Javed Hassan has said a company that exits Chapter 11 can raise more money from markets. Toh phir woh Chapter 11 hatta hai and it comes back and then it is able to raise more money from the markets as well.
Javed Hassan has said countries that default and restructure can improve their chances of growth. countries who have gone into default and restructuring actually improve their chances of growth
Javed Hassan has said Vietnam's per capita GDP was about 30 percent below Pakistan's in 1990. 1990 mein unki per capita GDP humse koi 30% less hoti thi.
Javed Hassan has said Vietnam's per capita GDP is about 3,500 dollars and Pakistan's about 1,600 dollars. Ab jo hai woh 3,500 dollars hai, hamari 1,600 dollars hai.
Javed Hassan has said Pakistan's GDP is less than 0.3 percent of global GDP. In terms of our GDP to global GDP is less than 0.3%.
Javed Hassan has said Pakistan has roughly 2.5 to 4 percent of the world's population. probably about two and a half, three percent of the global population or probably 4%.
Javed Hassan has said Pakistan's imports are about 15 to 16 percent of GDP. Hamari imports to GDP saare log complain karte hain imports to GDP. It's about 15, 16%.
Javed Hassan has said Pakistan's exports are less than 10 percent of GDP. Exports to GDP less than uh 5% less than 10%.
Javed Hassan has said Vietnam's trade is close to 100 percent of its GDP. Vietnam mein jo exports imports to GDP is close to about 100%.
Javed Hassan has said Pakistan needs to open up to the rest of the world. So we need to open up to the rest of the world.
Javed Hassan has said import substitution was dropped in the Far East in the 1970s. jo 70s mein Far East mein discard kar di gayi.
Javed Hassan has said Pakistan's potential exports to China are at least 15 billion, possibly 20 billion. potential exports to China for instance is in the tune of uh at least 15 billion, possibly 20 billion
Javed Hassan has said Pakistan currently exploits only about 2 to 3 billion of that potential. we are only exploiting about uh two, three billion, probably less right now.
Javed Hassan has said China could be a market of about 15 trillion dollars. China is huge if you think about how big a market it is about potentially a 15 trillion dollar market.
Javed Hassan has said Pakistan has not exploited the opportunities involved in CPEC. Uh we have actually not exploited the opportunities that CPEC involved.
Javed Hassan has said much of China's investment went into Pakistan's power sector, which was not the best investment. Humne saare unke investment kara di power sector mein which was not the best investment.
Javed Hassan has said better relations with India are not impossible. I think it is not impossible India ke sath.
Javed Hassan has said Pakistan is near the cusp of disaster. I tell you we are we are really near the cusp of disaster.
Javed Hassan has said Pakistan will reach default if it does not get its structural changes right. if we don't get our structural changes right, we really will come to a point where we will default.
Javed Hassan has said Pakistan should not waste the current crisis. Churchill never let a let a crisis go wasted. Never waste a crisis.
Javed Hassan has said economics is closely tied to politics. Ek dafa aap economics, economics zaroor hai, magar politics se bahut tied hai.
Javed Hassan has said two standard measures of repayment ability both show Pakistan moving toward default. Dono jo measures hain, metrics hain jisse aap dekhte hain ke country ki kya ability hai, quwat hai pay karne ki, dono keh rahe hain ke aap default ki taraf chale gaye.
Javed Hassan has said Pakistan's credit default swap rate rose from about 5 percent to 15 percent after the no-confidence vote. Woh jab vote of no confidence aaya, uske baad woh paanch percent, paanch che percent se ek bag 15 percent chala gaya.
Javed Hassan has said the balance of payments deficit fell from 1.3 billion dollars in July to 700 million. Aapka balance of payment jo hai pichle mahine jo uh July mein jo 1.3 billion tha negative, woh 700 million tak pahunchi.
Javed Hassan has said Pakistan's federal tax to GDP ratio is 10 percent. Yeh jo hai tax to GDP ratio hamara 10% hai.
Javed Hassan has said 56 percent of federal tax goes to the provinces under the NFC award. if of that tax jo 56% chala jata hai provinces ko NFC award mein.
Javed Hassan has said the fiscal deficit comes to about 7 percent of GDP. aapki deficit ban jati hai koi 7%.
Javed Hassan has said he worked with the government at the Ministry of Information for two and a half to three months. Mera ittefaq hua tha dhai-teen mahine government ke saath kaam karne ka, Ministry of Information mein.
Javed Hassan has said he resigned from that government work. jab mein ne resign kiya tha uske baad jaake mein ne kahin proper hona tha
Javed Hassan has said he was chairman of his office during his government work. mein ne government mein kaam kara hai, mujhe sa mere office mein mein chairman tha
Javed Hassan has said NAVTTC carried out certification work so that it could act as a catalyst. Aap ko certification, NAVTTC should not be focused on, hum logon ne kara tha, magar that was because we wanted to serve as a catalyst.
Javed Hassan has said NAVTTC should provide certification courses, set standards and build international links. Magar what NAVTTC should be doing is providing this certification courses, making sure the standards are right and having the international linkages
Javed Hassan has said he has worked in the donor business and in charities. Main bhi donor business mein reh chuka hoon, charities mein kaam.
Javed Hassan has said Pakistan's export value per unit has stayed near 3 dollars for about 30 years. woh Pakistan ke toh virtually 30 saal se wahi hai 3 dollar per unit
Javed Hassan has said Vietnam's per capita GDP is near 3,000 dollars against about 1,700 for Pakistan. Aaj Vietnam ka per capita GDP jo hai koi 3000 ke kareeb hai. Pakistan ka koi 1700.
Javed Hassan has said maize has grown about four times over in ten years. maize jo hai koi four times in ten years badh gayi hai.
Javed Hassan has said the IT business has grown to exports of about 2 billion dollars. Yet, it has grown dramatically k ab hum log koi 2 billion dollars ki export karne lage hain
Javed Hassan has said Pakistan imports Italian marble despite having some of the best marble in the world. we have one of the best marbles in the world, yet we, we are importing Italian marble.
Javed Hassan has said Pakistan has not branded its exports and that export promotion bureaus should do so. Sach, us mein kahin bhi naam Pakistan ka nahi, aapne branding kari hi nahi. These are the jobs of export promotion bureaus.
Javed Hassan has said distributing laptops is a total waste of money. Ek toh laptop kabhi nahi distribute karna chahiye. Yeh, yeh total waste of money hai, yeh laptops market chale jaate hain.
Javed Hassan has said Pakistan could export about 10 billion dollars, with human skills as a main shortage. potentially we should be exporting 10 billion and one of the main shortage is human skills.
Javed Hassan has said Pakistan may have one of the largest olive production in the world. We, we potentially have one of the largest production of olives anywhere in the world.
Javed Hassan has said Vietnam and Thailand attract foreign investment to make goods for global sale. Ab dekhen Vietnam aur Thailand mein, wahan bhi international investment aa raha hai. Woh wahan banate hain par internationally bechte hain.
Javed Hassan has said Pakistan has long sought geopolitical rents. Pakistan has for the longest time been seeking geopolitical rents.
Javed Hassan has said the Planning Commission put flood damage at about 28 billion dollars. Abhi government ne latest jo hai planning commission ne I think koi 28 billion dollars ka kaha hai.
Javed Hassan has said the floods may be a time for land redistribution. This this may be a time for land redistribution.
Javed Hassan has said remittances mostly go into consumption or real estate. either consumption mein, in terms of gaadi mangwana na kuch kuch consumerable good khareedni, na real estate mein.
Javed Hassan has said people who hold many houses pay no capital gains tax. Agar aap tax fairly karein real estate ko, aap capital gains tax karein, das ghar rakhe hue hain aur koi capital gains tax nahi pay karte.
Javed Hassan has said Pakistan Steel has been unprofitable for about 15 years. Aapki Pakistan Steel koi 15 saal se unprofitable hai.
Javed Hassan has said about 95 percent of Pakistan Steel staff do not come to work but still draw salaries. Wahan 95% log jo hain aate bhi nahi hain aur unko salaries le rahe the.
Javed Hassan has said about 70 to 80 percent of the bureaucracy is underemployed. Yahan aapki bureaucracy mein I would say it is about 70-80% under underemployment.
Javed Hassan has said 97 percent of Pakistan's bureaucracy is below grade 15. Pakistan ki jo bureaucracy hai, 97% of that is less than grade 15. 3% is over grade 15.
Javed Hassan has said the annual pension bill has grown to about 1.3 trillion. hamari pension bill jo hai har saal ab koi 1.3 trillion ho gayi hai.
Javed Hassan has said line losses are already at 18 percent. Already hum log 18 percent pe hain losses.
Javed Hassan has said cutting line losses is a red herring and a distraction. Woh actually ek red herring hai jo usko kehte hain ek aisi distraction hai.
Javed Hassan has said the Sahiwal plant runs at about 30 to 40 percent of capacity. Sahiwal jo hai woh shayad koi 30-40% par chal rahi hai.
Javed Hassan has said load shedding mainly comes from a shortage of fuel for power. Well load shedding to I think the main reason is because of power fuel shortage.
Javed Hassan has suggested stretching payments due over five years to 10 or 15 years. jo paanch saal mein jo payments karni thi, woh aap please 10 saal mein kar dein na 15 saal mein kar dein.
Javed Hassan has said Pakistan's forest cover is about 5 percent of its land mass. Hamari forestation level as a percentage of the land mass is way too low. Koi 5% hai.
Javed Hassan has said organic farming is widespread in the northern areas but has not been well marketed or certified. Northern areas mein itna zyada organic farming hai. We have not marketed it well, we have not uh certified it well.
Javed Hassan has said organic food sells at about three times the price. Organic fruit sells or food sells at three times the price.
Javed Hassan has said many doctors and lawyers take payment in cash. Hamare even professionals kaafi saare doctors aur lawyers bade acche waise toh bade acche sophisticated log hain magar cash lete hain.
Javed Hassan has said people like him pay less tax than people in India. Even people like me are paying less tax than in India
Javed Hassan has said his parents often spoke of saving for a rainy day. jisme apne walid sahab aur walda ko dekhte the aur kehte the ke woh humesha ek rainy day ki baat karte the.
Javed Hassan has said technocratic government is a code word for dictatorship. Technocratic is an is is just a code word for dictatorship to justify dictatorship.
Javed Hassan has said Pakistan needs much more democracy and devolved democracy. What we need is democracy. We need much more democracy, much more devolved democracy.
Javed Hassan has said Pakistan will come through this crisis. Uh let's not lose hope. We will come through this crisis.
Javed Hassan was born in Kaduna, Nigeria, in 1965. I was born in Nigeria, of all places, Kaduna mein, 1965.
His parents first worked in international service with a multilateral body before Nigeria's civil service recruited them. My parents were first in international service in in in a international multilateral. Magar phir woh Nigeria gaye the. Nigeria ke civil service ne unko pakad liya.
His father held a very senior civil service position in Nigeria. my dad was in a very senior civil service position in in Nigeria.
His family visited Pakistan every two years while they lived in Nigeria. Aur har do saal ke baad Pakistani aate the, Pakistan aate the wapas.
He has said his father was a strong patriot. So, my dad was a super patriot.
He has said his family kept its Pakistani identity while living in Nigeria. No, we maintained our Pakistaniyat and we are very strongly Pakistani.
He grew up mainly in Nigeria. And I was then five, 1970, and grew up basically in Nigeria.
His parents went back to Bangladesh in 1969 and then returned to Nigeria. in '69, my parents wapas gaye Bangladesh, us waqt East Pakistan. Magar wahan halat dekh ke we went back to Nigeria.
He has said he studied in mud huts during his early primary education. I I I studied in mud huts in my early primary education.
He completed his O-levels and A-levels in Nigeria in 1982. Magar after Nigeria in 1982, did my O-levels, A-levels in Nigeria.
He studied civil engineering at Imperial College. even though I wasn't expect manage to get into Imperial College, did my civil engineering there.
He worked as an engineer for three years and then did a master's in engineering. Then worked for three years as an engineer and then did my masters in engineering.
He completed an MBA at London Business School between 1990 and 1992. I did 90 to 92 my MBA from London Business School
He worked in investment banking in London from 1992 to 2000. I was in investment banking in London from 1992 to 2000 with number of banks
He worked at Credit Lyonnais and one or two other banks. Bearings mein raha, phir Credit Lyonnais mein raha, aur ek do aur banks mein
He worked at Credit Suisse in Hong Kong as an investment analyst and fund manager. Aur Hong Kong mein ek company hai, Credit Suisse. Uske saath main investment analyst tha aur fund manager raha.
He has said he lived in Hong Kong and Singapore. Main Hong Kong aur Singapore mein raha.
By 2006 he was married and had two children. By then I was married, I had two kids.
In 2006 his then wife decided the family should return to Pakistan so the children could grow up there. In 2006, my then wife decided ke bas wapas jana hai, bachon ko yahan badhna hai.
He has said there was a sense of optimism in 2006 and many people were returning to Pakistan. And 2006 mein there was a sense of optimism, kaafi log wapas aa rahe the.
After returning to Pakistan he headed an insurance company and then an investment bank. I started again back in heading an insurance company and then again an investment bank.
In 2013 he left banking and moved into charity work. I decided to give all that up in 2013 and I said I've had enough of this and went into charity.
He became CEO of a foundation that does skills training. So, I went into a foundation which does skills training. Right. Hunar Foundation and I became the CEO of that.
In 2018 he moved to Islamabad because his father was ill. And in 2018, my father was unfortunately going through a difficult time. He was ill. I decided to move to Islamabad.
He lived in Karachi from 2006 until 2018. 2006 to 2017, 18 I was in in in in in Karachi.
He was asked to head the National Vocational Technical Training Commission. He asked me to then head the National Vocational Technical Training Commission.
He helped set up the Economic Advisory Group, a small group of economists. So, we set up a small group which is just last one and a half years, which is called Economic Advisory Group
He is a member of the Economic Advisory Group. main hoon obviously aur mere saath ka teen paanch chhe balkay bade achhe economist hain
He has said the Economic Advisory Group's report is available online and runs to about 20 pages. It's there on online. I strongly recommend. It's very simple. It's only 20 pages.
He has said the Economic Advisory Group's report sets out policy actions, not only problems. Policy actions ke saath hai aur bade straightforward, simple policy actions hain
He has said Pakistan had three to four weeks left before it defaults. Hamare paas teen se char hafte reh gaye hain before we default.
He has said Pakistan's usable reserves are about 3 billion dollars. Usmein se aap agar dekhein toh ab jo reh gaye hain, in actual terms jo hum log actually use kar sakte hain, koi 3 billion hain.
He has said Pakistan has about 18 billion dollars of repayments due in the next 12 months. Humko agle koi 12 mahine mein koi 18 billion, 18 arab dollars wapas karne hain.
He has said Pakistan's financing needs are about 30 billion dollars over the next 12 months. Toh yeh soch lein ke aapka 18 billion woh aur 12 billion, 30 billion ki aapko financing needs hain agle 12 mahine.
He has said the current account deficit averages about 1 to 1.5 billion dollars a month. Is mahine toh behtar thi, koi 600 million, magar on average chal rahi hai koi 1 to 1.5 billion.
He has said a debt rollover depends on Pakistan being inside an IMF programme. Haan, woh woh magar dekhein yeh jo rollover hoga, usi waqt hoga jab aap IMF ke umbrella ke andar honge.
He has said official inflation is about 13.5 percent and that in reality it is already rising. ab jo hai inflation jo hai officially chal rahi hai koi 13.5. In reality already woh badh rahi hai
He has said food inflation is around 16 percent and could reach 20 to 25 percent. food inflation mere lihaz se, abhi toh chal rahi hai koi 16% tak, 15. Woh I think koi 20, 22, shayad 25% tak chal rahi hai.
He has said the poorest should receive targeted subsidies for oil and food, or Pakistan will face hunger. Unke liye subsidies, targeted subsidies unke liye ki whether it's oil, whether it's food, unko subsidized milna chahiye. Otherwise, we will have hunger here.
He has said the right decisions include ending petrol subsidies and following IMF conditions. Petrol subsidies khatam karein, IMF ke conditionalitys par aayein
He has said he visited Argentina in 2001, when it defaulted. main ek 2001 mein I had to visit Argentina aur wahan default hua tha.
He has said Pakistan's exports were stuck around 20 to 24 billion dollars for several years. Toh hamari jo export hai, ab pichle ab thodi jaake badhi hai pichle ah teen-char saal mein, it was stuck around 20-24 billion.
He has said Pakistan's industries, including textiles, sugar and autos, have been kept on subsidies and protection. Aapne industries ko subsidies par rakha. Ah, whether your textile industry, na sugar industry, jo bhi industry dekhein with a few exception, ah auto dekhein usko protection par protection milta rehta hai.
He has said Pakistan should focus on vocational and technical training, such as welding. Vocational par focus karein. Aap ye karein ke technical training de. Welding welding agar theek se aapko aati hai itni demand hai pure duniya mein
He has said he worked in the skills sector. Magar main skills ke shoba mein raha.
He has said Pakistan has one of the youngest populations in the world. This is one of the youngest populations in the world. Uh you know you imagine anyone who's under half the population is under 22.
He has said intelligence is equally distributed across the population. one of the best things we learned in in college ke intelligence is equally distributed in the population.
He has said Pakistan's population is about 220 million. In a population of 220 million 100 million under 22
He has said Pakistan will achieve its aims if the right environment is created, markets are freed and people are given choices. give the right environment, free the markets, free the people, give them the choices. We will achieve it.
He has said every citizen should have an equal right to aspire to the highest. each one of us has the equal right to aspire to the highest.
He has said Pakistan has an extractive elite that takes subsidies and protection without hard work or risk, and that this cannot continue. hamare yahan jo ek extractive elite hai ki bagair mehnat kare hue, bagair risk liye hue, bagair koi ah ki mustaqil government se subsidies lo, protection lo aur apne apne paise banao, woh nahi chal sakta hai.
He has said government involvement in pricing, such as sugar prices, creates openings for corruption. Agar government involved hai price setting of sugar toh corruption ka toh mauka milega.
He has said Pakistan's savings ratio averages around 11 to 12 percent. Yeh hamare yahan savings ratio ek the lowest figure was around 7 percent. On average it's around 11-12 percent.
He has said property is one of the least productive forms of investment. Aur property if you think about it is one of the most unproductive sources of investment.
He has said Pakistan's focus has to be on productive capacity and job creation. Our focus has to be on productive capacity and job creation.
He has said Pakistan has one of the lowest numbers of bank account holders in the world. Pakistan has one of the lowest account holders around the world.
He has said pricing works as a signal showing where resources should be allocated. Pricing ek signaling mechanism hai ke kahan resource allocate hota hai.
He has said he admires a famous economist and philosopher. ek bahut famous economist philosopher hai Fedrick Hayek main uska kafi qayal hu.
He has said Pakistan should create a society where people take risks and are fairly rewarded. let's create a society where people are risk taking and then ability to reward those risk ke fairness ho.
He has said a rupee rate of 220 is not the end of the world in the short term. Short terms you know rupiya agar 220 is not the end of the world.
He has said Bangladesh and Vietnam have caught up with and moved ahead of Pakistan. they've done the right things they've caught up and gone ahead of.
Asked about Pakistan in 2050, he said it would be looking to host the Olympics. We'll be looking to host Olympics. Inshallah.
He has said his father was an engineer. because my father was an engineer
After his MBA he moved into investment banking. And then from there I went into the dark side, which is investment banking.
He has said he worked for a time with the Ministry of Education. yahan main thoda bahut Ministry of Education ke saath raha
He has said what matters most in education is a home that values learning and good teachers. Zaroori yeh hai ke ghar mein shauq hona chahiye aur teachers achhe hone chahiye.