The Myth of the New India
Pankaj Mishra August 4, 2006
#132 Posted by bbabu on August 9, 2006 3:01:17 pm
zeemax #120
`` Providing basic necesities of surival for a billion plus population, let alone raising their standard of living, is a herculean task - to say the least. China had to undergo 50 years of closed economy, uniforms, bicycles, ruthless and inhuman laws, massacres during cultural revolution plus some, to arrive to colour TVs. ``
If you are fond of Great Leap Forward and Cultural Revolution please start them in Pakistan. I am not going to stop you.
`` So Nehru may be excused for having to walk the tightrope between communism / socialism / capitalism all at the same time and slipping. He did set a direction though, which was abandoned by India in early 90s instead of taking remedial measures. When huge nations such as India make mistakes, these prove to be extremely costly and nearly impossible to reverse over the short-term. ``
There is nothing remedial about dismantling white elephants in Indian public sector.
`` There is really no leap-frog solution to the value-addition problem. Some countries like Pakistan/India think it can be done through liberalisation, but that not only produces income disparities as you see in both these countries, but also results in little `real` value addition indigenously. ``
You are right. Indians need to add value. They are finally doing it in the software sector.
`` The process of value-addition has to commence with import substitution of capital goods with establishment of large state-sector heavy industries just as Nehru did, which employed hundreds of thousands of mostly unskilled/semi-skilled people. As this phase develops, the levels of skills are enhanced alongwith wage-growth, and the next stage can be reached of import substitution of consumer goods which absorbs the higher skills and can sustain the higher wage levels. Once all import substitution is completed, the available pool of skills are sufficient to sustain a move to export orientation of manufactured goods which entails highly competetive skills and wage levels. Once ALL the foregoing phases are completed, only then it is time to move into service exports because then, your life does not depend on it, and most of your population is reasonably skilled and gainfully employed at various stages of the value-addition chain. ``
Please parse the first sentence.
`` The process of value-addition has to commence with import substitution of capital goods with establishment of large state-sector heavy industries just as Nehru did, which employed hundreds of thousands of mostly unskilled/semi-skilled people.``
modern capital goods are most technology intensive and the most capital intensive. You want a country like India/Pakistan to focus on that.
Technology has evolved since Marx wrote Das Kapital. Steel mills are highly mechanized employing a fraction of the labor they used to. Most of the labor is medium to high in terms of skills. Unskilled workers are toast even in the USA.
`` Can you see from above that even though India started out in the correct direction, but hopscotched over a few stages of value-addition and jumped head-long into what should have been the last? ``
It is true that India might bypass heavy manufacturing to becoming a R&D powerhouse unlike Singapore, Malaysia, Thailand, Taiwan. So what ?
`` Providing basic necesities of surival for a billion plus population, let alone raising their standard of living, is a herculean task - to say the least. China had to undergo 50 years of closed economy, uniforms, bicycles, ruthless and inhuman laws, massacres during cultural revolution plus some, to arrive to colour TVs. ``
If you are fond of Great Leap Forward and Cultural Revolution please start them in Pakistan. I am not going to stop you.
`` So Nehru may be excused for having to walk the tightrope between communism / socialism / capitalism all at the same time and slipping. He did set a direction though, which was abandoned by India in early 90s instead of taking remedial measures. When huge nations such as India make mistakes, these prove to be extremely costly and nearly impossible to reverse over the short-term. ``
There is nothing remedial about dismantling white elephants in Indian public sector.
`` There is really no leap-frog solution to the value-addition problem. Some countries like Pakistan/India think it can be done through liberalisation, but that not only produces income disparities as you see in both these countries, but also results in little `real` value addition indigenously. ``
You are right. Indians need to add value. They are finally doing it in the software sector.
`` The process of value-addition has to commence with import substitution of capital goods with establishment of large state-sector heavy industries just as Nehru did, which employed hundreds of thousands of mostly unskilled/semi-skilled people. As this phase develops, the levels of skills are enhanced alongwith wage-growth, and the next stage can be reached of import substitution of consumer goods which absorbs the higher skills and can sustain the higher wage levels. Once all import substitution is completed, the available pool of skills are sufficient to sustain a move to export orientation of manufactured goods which entails highly competetive skills and wage levels. Once ALL the foregoing phases are completed, only then it is time to move into service exports because then, your life does not depend on it, and most of your population is reasonably skilled and gainfully employed at various stages of the value-addition chain. ``
Please parse the first sentence.
`` The process of value-addition has to commence with import substitution of capital goods with establishment of large state-sector heavy industries just as Nehru did, which employed hundreds of thousands of mostly unskilled/semi-skilled people.``
modern capital goods are most technology intensive and the most capital intensive. You want a country like India/Pakistan to focus on that.
Technology has evolved since Marx wrote Das Kapital. Steel mills are highly mechanized employing a fraction of the labor they used to. Most of the labor is medium to high in terms of skills. Unskilled workers are toast even in the USA.
`` Can you see from above that even though India started out in the correct direction, but hopscotched over a few stages of value-addition and jumped head-long into what should have been the last? ``
It is true that India might bypass heavy manufacturing to becoming a R&D powerhouse unlike Singapore, Malaysia, Thailand, Taiwan. So what ?
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#131 Posted by bbabu on August 9, 2006 2:52:52 pm
zeemax #106
`` service sector as in ?? ... Wal mart is not allowed.
Walmart is trading, retail selling. It is not service sector, though maybe in the broadest and silliest definition. Pure service-sector is all that software and call-centres which you guys have set up for foreigners. ``
What is wrong with service sector liberalization in India ?
`` service sector as in ?? ... Wal mart is not allowed.
Walmart is trading, retail selling. It is not service sector, though maybe in the broadest and silliest definition. Pure service-sector is all that software and call-centres which you guys have set up for foreigners. ``
What is wrong with service sector liberalization in India ?
#130 Posted by dost_mittar on August 9, 2006 2:45:48 pm
zeemax#120:
I may be an economist by training but my observations are based on common sense. I think that you are unaware of the details of the working of the Indian economy, at least in the earlier era. I am not doctinaire and would admit that there may be time or circumstances in which the govt. might go into commercial enterprise, but in India most of this was unnecessary. Let`s take the example of steel. India had a steel factory in the private sector going back a century to 1905. But under the Industrial Policy of 1956, this steel company was banned from expanding production as all steel production henceworth was going to be in the public sector. Now, after liberalisation, Tatas have expanded their steel production and have emerged as the lowest cost steel producer in the world, beating even South Korea`s POS. Another example is Airlines. India had an airline going back to 1930 and by 1950s, Air India was a well-respected small airline known for its excellent service and punctuality. Nehru decided to nationalise this efficient company and turned it into an inefficient loss-making airline that only Indians on govt. business wanted to travel on.
As for consumer goods industries, most Asian countries, starting with Japan started with textile manufacturing and exports, esp textiles, to more developed countries. These industries peoduce large number of jobs, especially for the unskilled and semi-skilled labour. As consumer industries expand, a market develops for capital goods and one cam move up the chain from consumer to capital goods. Even Indian planners were aware of the job-creating prospects of these industries and provided a prominent role to them in the private sector. However, they limited them to small scale industries; so Indians were producing garments in inefficient small and cottage industries, which were heavily subsidised by the government and yet produced poor quality textiles at high prices.
As for service sector, they too can produce large number of jobs - not only in places like call centres but in areas such as health and education. Indians seem to be full of optimism at the prospect of medical tourism, although no reliable data are available on the jobs produced in these sectors.
As has been said a million times, Indians need to improve their infrastructure, especially roads and electricity. But more than that, they need to be thinking also of environment and sustainable growth.
I may be an economist by training but my observations are based on common sense. I think that you are unaware of the details of the working of the Indian economy, at least in the earlier era. I am not doctinaire and would admit that there may be time or circumstances in which the govt. might go into commercial enterprise, but in India most of this was unnecessary. Let`s take the example of steel. India had a steel factory in the private sector going back a century to 1905. But under the Industrial Policy of 1956, this steel company was banned from expanding production as all steel production henceworth was going to be in the public sector. Now, after liberalisation, Tatas have expanded their steel production and have emerged as the lowest cost steel producer in the world, beating even South Korea`s POS. Another example is Airlines. India had an airline going back to 1930 and by 1950s, Air India was a well-respected small airline known for its excellent service and punctuality. Nehru decided to nationalise this efficient company and turned it into an inefficient loss-making airline that only Indians on govt. business wanted to travel on.
As for consumer goods industries, most Asian countries, starting with Japan started with textile manufacturing and exports, esp textiles, to more developed countries. These industries peoduce large number of jobs, especially for the unskilled and semi-skilled labour. As consumer industries expand, a market develops for capital goods and one cam move up the chain from consumer to capital goods. Even Indian planners were aware of the job-creating prospects of these industries and provided a prominent role to them in the private sector. However, they limited them to small scale industries; so Indians were producing garments in inefficient small and cottage industries, which were heavily subsidised by the government and yet produced poor quality textiles at high prices.
As for service sector, they too can produce large number of jobs - not only in places like call centres but in areas such as health and education. Indians seem to be full of optimism at the prospect of medical tourism, although no reliable data are available on the jobs produced in these sectors.
As has been said a million times, Indians need to improve their infrastructure, especially roads and electricity. But more than that, they need to be thinking also of environment and sustainable growth.
#136 Posted by ahmedmadani on August 9, 2006 7:44:47 pm
Re: # 130
Dear DM , I felt better see your interactions. I was little fearful if you are not keeping good health as you bad been absent. So please accept my frindly respects to you.You are one of most matured gentleman here and your prescence is therupetic. I am reasonable shape for month or so but its like hormonic motion, anxity leading to depression and depression leading to anxity.I am taking minimal medicines one for GDA- general anxity reducer and other to keep mood with less amplitude and occilations. Its like diabetis , it can not be cured so endure and control.
I am afraid you may be wrong factually. PM J.Nehru died in 1964-1965. If i understand correct nehru family was getting good money for elections from tatas so they have cardial relationships. I suspect Mr.Desai did strike tatas with air india and domestic airline as he was angry with Tata company support to Nehru and gandhis and congress.
Is air india and its sister domestc sister still govt co or is publically traded co ? When it was govt co was it traded on Indian bourses?
India skyies will be over crowded soon. I was looking at BBC news and its appears almost 300 brand new planes will be added to airfleet in India. There are almost over 100 firm orders and options for 200. With only 6 to 7 airports wonder how can they even manage to park, maintain, refuel and take off and land. Will air india aqnd its sister will vanishes in game of survival of fittest? It is estimated Indian airplane of air India has 530 service people manning each plane. It is possible due to small no of planes ( 30 to 40) with minimum infrastructure to run this strange happens.
I read figure 80% of indian capital markets are under Govt controlled sector. Real interest rates in India are pretty high so capital is expensive. So the resources should be provided to playesrs who use and create wealth and denied resources to mismanaged companies who do not create wealth. It is serious economic crime to waste capital when there is crunch. I also use to feel for socialism when I was young and immature and as I matured understood the utility of equity markets and how efficiently they do that job with out any imposed rules. They follow simple ways of life and devoid of idealogy where results are not accepted. It is said that 90% of Indian equity markets are controlled by Govt insurance companies, they call shots and manipulate markets. If even Govt control on equity markets is reduced to 40% then inputs will be naturally directed leading to creation of wealth. Presently I have studied pakistani transport companies and want to look at goods transportation. I plan to write a article if my mental health allows.
Sorry for disturbing , again happy to see you reacting. Hope we will some articles on Indian music. Good day.
Dear DM , I felt better see your interactions. I was little fearful if you are not keeping good health as you bad been absent. So please accept my frindly respects to you.You are one of most matured gentleman here and your prescence is therupetic. I am reasonable shape for month or so but its like hormonic motion, anxity leading to depression and depression leading to anxity.I am taking minimal medicines one for GDA- general anxity reducer and other to keep mood with less amplitude and occilations. Its like diabetis , it can not be cured so endure and control.
I am afraid you may be wrong factually. PM J.Nehru died in 1964-1965. If i understand correct nehru family was getting good money for elections from tatas so they have cardial relationships. I suspect Mr.Desai did strike tatas with air india and domestic airline as he was angry with Tata company support to Nehru and gandhis and congress.
Is air india and its sister domestc sister still govt co or is publically traded co ? When it was govt co was it traded on Indian bourses?
India skyies will be over crowded soon. I was looking at BBC news and its appears almost 300 brand new planes will be added to airfleet in India. There are almost over 100 firm orders and options for 200. With only 6 to 7 airports wonder how can they even manage to park, maintain, refuel and take off and land. Will air india aqnd its sister will vanishes in game of survival of fittest? It is estimated Indian airplane of air India has 530 service people manning each plane. It is possible due to small no of planes ( 30 to 40) with minimum infrastructure to run this strange happens.
I read figure 80% of indian capital markets are under Govt controlled sector. Real interest rates in India are pretty high so capital is expensive. So the resources should be provided to playesrs who use and create wealth and denied resources to mismanaged companies who do not create wealth. It is serious economic crime to waste capital when there is crunch. I also use to feel for socialism when I was young and immature and as I matured understood the utility of equity markets and how efficiently they do that job with out any imposed rules. They follow simple ways of life and devoid of idealogy where results are not accepted. It is said that 90% of Indian equity markets are controlled by Govt insurance companies, they call shots and manipulate markets. If even Govt control on equity markets is reduced to 40% then inputs will be naturally directed leading to creation of wealth. Presently I have studied pakistani transport companies and want to look at goods transportation. I plan to write a article if my mental health allows.
Sorry for disturbing , again happy to see you reacting. Hope we will some articles on Indian music. Good day.
#137 Posted by ahmedmadani on August 9, 2006 7:49:55 pm
Re: # 136
DM... I mean to say had not bad. If you look at type set machine h and b are over each other and I have real problem. Hope readers will forgive and mentally correct spellings. I get confused by neighbourhood letters. Just explaination as inadvertendly some times gives feeling of disrespect.
DM... I mean to say had not bad. If you look at type set machine h and b are over each other and I have real problem. Hope readers will forgive and mentally correct spellings. I get confused by neighbourhood letters. Just explaination as inadvertendly some times gives feeling of disrespect.
#129 Posted by tahmed32 on August 9, 2006 11:32:03 am
kisan @128: that is an insightful and informative post. it is indeed true, as your post indicates, that for the right kind of investors to invest (i.e. ruling out speculators in real estate, but including world class organizations like microsoft and nokia), you need both the physical infrastructure (roads, reliable power supply) as well as legal and social infrastructure (low crime rates, lack of religious or communist extremism).
#128 Posted by kisan on August 9, 2006 10:40:39 am
Yes, there is a lot of hype over Indian development. But yes there is a hell of a lot of development going on in certain places.
Recently I was in Jaipur and the buildings coming up there are amazing as well as 3 lane roads in either direction. It is an amazing transformation. Go away and come back in 6 months and you will be stunned at the new buildings that have come up.
The same thing is there in Delhi in parts with Gurgaon looking like a Tiger economy location.
In Bangalore driving through Koramangala today and visiting a large mall with 12 cinemas I can see that in certain places India is booming. This is limited to only various locations though and even in these places there is shocking poverty.
1.3 million jobs will create a mass of other flow on jobs as people cater to these well earning people but yes it is only a small scale start.
The author is sympathetic to the communist cause and wherever the communists (either political faction or violent revolutionary type) are in sway the massive advances are not in evidence.
Who will invest time and money in a place where you might be murdered or kidnapped for being a wicked exploiter? I certainly have second thoughts about investing in a Naxal affected area where desperately poor relatives live. In Kerala where there is abundant natural resources and even a well educated populace with a communist Govt when going there I was surprised by the terrible state of the roads and the complete absence of development of industries and basic facilities.
Aside from this however Indian manufacturing is growing rapidly in quality and sophistication. I bought a Nokia phone in Asia last week and it was made in India, certainly not what I thought would be the manufacturing place.
As India liberalises imports and the protected industries nurtured in their inefficiency by socialist protectionism have to face Chinese imports suddenly instead of closing their factories down some of these substandard manufacturers suddenly lift their game and start making decent product importing modern machinery and innovating.
In the last week I saw massive technical improvements in products that were made by hand now made by machines. As this low tech technique shifts to to mechanised work these workers in inefficient wishy washy Gandhian village manufacturing can join more efficient production techniques.
Progress is going on across the Country and despite a hell of a long way to go the progress is gathering in momentum.
This mechanism will lift India rapidly if it can avoid religious fundamentalism and communist fundamentalism.......
Recently I was in Jaipur and the buildings coming up there are amazing as well as 3 lane roads in either direction. It is an amazing transformation. Go away and come back in 6 months and you will be stunned at the new buildings that have come up.
The same thing is there in Delhi in parts with Gurgaon looking like a Tiger economy location.
In Bangalore driving through Koramangala today and visiting a large mall with 12 cinemas I can see that in certain places India is booming. This is limited to only various locations though and even in these places there is shocking poverty.
1.3 million jobs will create a mass of other flow on jobs as people cater to these well earning people but yes it is only a small scale start.
The author is sympathetic to the communist cause and wherever the communists (either political faction or violent revolutionary type) are in sway the massive advances are not in evidence.
Who will invest time and money in a place where you might be murdered or kidnapped for being a wicked exploiter? I certainly have second thoughts about investing in a Naxal affected area where desperately poor relatives live. In Kerala where there is abundant natural resources and even a well educated populace with a communist Govt when going there I was surprised by the terrible state of the roads and the complete absence of development of industries and basic facilities.
Aside from this however Indian manufacturing is growing rapidly in quality and sophistication. I bought a Nokia phone in Asia last week and it was made in India, certainly not what I thought would be the manufacturing place.
As India liberalises imports and the protected industries nurtured in their inefficiency by socialist protectionism have to face Chinese imports suddenly instead of closing their factories down some of these substandard manufacturers suddenly lift their game and start making decent product importing modern machinery and innovating.
In the last week I saw massive technical improvements in products that were made by hand now made by machines. As this low tech technique shifts to to mechanised work these workers in inefficient wishy washy Gandhian village manufacturing can join more efficient production techniques.
Progress is going on across the Country and despite a hell of a long way to go the progress is gathering in momentum.
This mechanism will lift India rapidly if it can avoid religious fundamentalism and communist fundamentalism.......
#139 Posted by ahmedmadani on August 9, 2006 11:26:17 pm
Re: # 128
Your thinking appears similar mine. There is lot of change but still lot has not changed. I liked that you do not have contempt for your progress. I always find probvlem with left wing and do gooders is they whine lot. complaint is is ok but whining pathetic. The way they write with such comtempt is paert of impotency. I do not know why generation of
1.5 million job with good paying jobs and which are new way type of work is referred with comtempt.As with force multiplying effect about 15 million people have moved to middle class. Generally left winger do not do a damn things and if some body does they do not like as does not fit in theory. Normally their policy is to do nothing by your hands of give help to poor, also can not tolerate others helping as they want poor to starve and want law and order, revolutions which are patently cruel and hoax. They find easy way out by demanding Govt to generous with collected taxes of citizen and be devoid responsibilities. They feel marching , riots is way to do nothing, I think they do not want to improve situation as doctor`s dilemma. If patient improves doctor looses, so he should not die at same time not improve. Other thing they know only to parrot a standard ``line`` and have not even bothered to study the original documents which they quote all time. I am feeling soon party will be over for leftist due to mental bankruptcy.
Your thinking appears similar mine. There is lot of change but still lot has not changed. I liked that you do not have contempt for your progress. I always find probvlem with left wing and do gooders is they whine lot. complaint is is ok but whining pathetic. The way they write with such comtempt is paert of impotency. I do not know why generation of
1.5 million job with good paying jobs and which are new way type of work is referred with comtempt.As with force multiplying effect about 15 million people have moved to middle class. Generally left winger do not do a damn things and if some body does they do not like as does not fit in theory. Normally their policy is to do nothing by your hands of give help to poor, also can not tolerate others helping as they want poor to starve and want law and order, revolutions which are patently cruel and hoax. They find easy way out by demanding Govt to generous with collected taxes of citizen and be devoid responsibilities. They feel marching , riots is way to do nothing, I think they do not want to improve situation as doctor`s dilemma. If patient improves doctor looses, so he should not die at same time not improve. Other thing they know only to parrot a standard ``line`` and have not even bothered to study the original documents which they quote all time. I am feeling soon party will be over for leftist due to mental bankruptcy.
#127 Posted by arjun_m on August 9, 2006 7:12:37 am
zeemax: Here`s a small sampling of the menial jobs the indians are doing for the foreigners..
Monster search for Verilog
You probably don`t know verilog from a donut so here
Those damn Indians are just code coolies..and the grapes were sour AND poisonous..
Monster search for Verilog
You probably don`t know verilog from a donut so here
Those damn Indians are just code coolies..and the grapes were sour AND poisonous..
#126 Posted by arjun_m on August 9, 2006 7:08:29 am
yeah..netsol is giving the leaders of which market segment a run for their money? It`s only on the radar in Pakiworld...
#125 Posted by zeemax on August 9, 2006 6:41:58 am
#124 by arjun-nath_miromal
LoL ... I told you might need burnol.
Abey dhoti lal chamoona mal, NASDAQ is in the real world.. not Pakiworld.
And don`t produce figures. You asked `holding their own` didn`t you?
LoL ... I told you might need burnol.
Abey dhoti lal chamoona mal, NASDAQ is in the real world.. not Pakiworld.
And don`t produce figures. You asked `holding their own` didn`t you?
#124 Posted by arjun_m on August 9, 2006 5:12:47 am
#123 by zeemax on August 9, 2006 2:33am PT
Netsol Technolgies Inc (
I said world, not pakiworld(the magical mystical place where all of paki delusions are reality)
Take NetSol for instance...They may be big in Pakiworld, but in the real world..
Need a shot of reality with your morning coffee?
Netsol Technolgies Inc (
I said world, not pakiworld(the magical mystical place where all of paki delusions are reality)
Take NetSol for instance...They may be big in Pakiworld, but in the real world..
http://finance.yahoo.com/q?s=NTWK
Last Trade: 1.52
Market Cap: 23.03M
Key statistics:
http://finance.yahoo.com/q/ks?s=NTWK
Revenue (ttm): 18.51M
Qtrly Revenue Growth (yoy): 58.10%
Gross Profit (ttm): 7.68M
Qtrly Earnings Growth (yoy): -82.80%
Need a shot of reality with your morning coffee?
#123 Posted by zeemax on August 9, 2006 2:33:33 am
#89 by arjun-nath_miromal
Face it: you can`t name 3 paki pvt sector companies that can hold their own in the world. Forget 3..name 1..
Netsol Technolgies Inc (NASDAQ: NTWK).
Need Burnol?
Face it: you can`t name 3 paki pvt sector companies that can hold their own in the world. Forget 3..name 1..
Netsol Technolgies Inc (NASDAQ: NTWK).
Need Burnol?
#140 Posted by ahmedmadani on August 10, 2006 12:04:22 am
Re: # 123
Re: # 124
Mr Arjun this company is fine. It has 530 employs. It has higher P/E than you coolie shop called wipro. The stock exchhane people shoe its competior to Wipro company. Now nice white rich people know better than you, they have listed company in american exchanges. It is going be fine co in future. Note even big companies have loss ( negative earnings now and then). It has higher P/E than wipro and Patani and all garage coolie things from Bangore. People fill this company has more potential than indian companies with tiny P/Es. You may not like but sure as wise you are you must have been purchaing stock at $ 1.5 and when it goes to $4.00 you will be rat to cash at slighest bad news. If you keep with sahares you can become ``lakhpati``. I think you are tryimng to damage company and waiting like vulture capitalist to pounce on stock and hold for 5 years and make lots of money. All pakistanies should by 100 shares to show support to pakistani company. As to believe is to act and aking my daughter to buy 100 shares. Hope many will support. Instead of marching and rioting in pakistan it better to buy and support pakistani company. its is complimentary to be mentioned as competitor to companies like Wipro, patani etc. It has proved a pakistani star company is borned on NY Satta bazzar. Hope you buy and get quick rich. You need to visit mental doctor for controlling your ``paki Hate``.
Thanks Mr.Zeemax as do not understand why experts from Pakistan in USA did not tell this factor, even I use to feel sad and use to feel there is not even company in usa by pakistani softies. Thanks for mentioning hope real test is buy 100 each and get good profit after 5 years atleast 2 to 3 times. Less than 5 years is not proper time to use this company as investment vehicle for wealth. Here indians are better they show support by buying indian companies in USA sattabazzar. Hope we pakistanis can also pass test of our belief or will have to accept cursingings by Arjun.
good day
Re: # 124
Mr Arjun this company is fine. It has 530 employs. It has higher P/E than you coolie shop called wipro. The stock exchhane people shoe its competior to Wipro company. Now nice white rich people know better than you, they have listed company in american exchanges. It is going be fine co in future. Note even big companies have loss ( negative earnings now and then). It has higher P/E than wipro and Patani and all garage coolie things from Bangore. People fill this company has more potential than indian companies with tiny P/Es. You may not like but sure as wise you are you must have been purchaing stock at $ 1.5 and when it goes to $4.00 you will be rat to cash at slighest bad news. If you keep with sahares you can become ``lakhpati``. I think you are tryimng to damage company and waiting like vulture capitalist to pounce on stock and hold for 5 years and make lots of money. All pakistanies should by 100 shares to show support to pakistani company. As to believe is to act and aking my daughter to buy 100 shares. Hope many will support. Instead of marching and rioting in pakistan it better to buy and support pakistani company. its is complimentary to be mentioned as competitor to companies like Wipro, patani etc. It has proved a pakistani star company is borned on NY Satta bazzar. Hope you buy and get quick rich. You need to visit mental doctor for controlling your ``paki Hate``.
Thanks Mr.Zeemax as do not understand why experts from Pakistan in USA did not tell this factor, even I use to feel sad and use to feel there is not even company in usa by pakistani softies. Thanks for mentioning hope real test is buy 100 each and get good profit after 5 years atleast 2 to 3 times. Less than 5 years is not proper time to use this company as investment vehicle for wealth. Here indians are better they show support by buying indian companies in USA sattabazzar. Hope we pakistanis can also pass test of our belief or will have to accept cursingings by Arjun.
good day
#141 Posted by ahmedmadani on August 10, 2006 12:37:07 am
Re: # 140
Friends I studied chart given by Arjun. ( here I assume he has no made`` corrections``) Its very interesting stock and and buying is going to be very exciting time. In 2000 it reached 80 dollars and it has collapsed in 2002 to 0.2 dollars. So who brought in 2000 are dead and buried 100 ft.
But one look otherway others misfortune is your fortune. Those who hold in 2002 are doing fine its 700% return in 2006. Not bad return. But companies always who are good survive this is one of story. It has respectable P/E ratio of 41.00 which is line with and higher than coolie sweat shops of India. It has been up to 2.5 dollars. I think GOP can give some work to stabilize stock. At least they can buy stock to help company. My little study says its highly speculative stock, are analyst not covering ? No forward P/E rations and no target price is bothering investment mind. But I am asking my daughter for 100 units and will report as things move. We have to understand to believe is to act. Let us see how expaks does or they just want to make cheap money in housing in Karachi/
Friends I studied chart given by Arjun. ( here I assume he has no made`` corrections``) Its very interesting stock and and buying is going to be very exciting time. In 2000 it reached 80 dollars and it has collapsed in 2002 to 0.2 dollars. So who brought in 2000 are dead and buried 100 ft.
But one look otherway others misfortune is your fortune. Those who hold in 2002 are doing fine its 700% return in 2006. Not bad return. But companies always who are good survive this is one of story. It has respectable P/E ratio of 41.00 which is line with and higher than coolie sweat shops of India. It has been up to 2.5 dollars. I think GOP can give some work to stabilize stock. At least they can buy stock to help company. My little study says its highly speculative stock, are analyst not covering ? No forward P/E rations and no target price is bothering investment mind. But I am asking my daughter for 100 units and will report as things move. We have to understand to believe is to act. Let us see how expaks does or they just want to make cheap money in housing in Karachi/
#142 Posted by ahmedmadani on August 10, 2006 1:05:28 am
Re: # 141
This interesting stock for sure there is some safety built in. Insiders that uiis ghouri family hold atleast 2 million shares. so 2x1.5=3 million, total capitalization is about 25 milliom , so almost 12% is owned by family so they will do best to have better performance.If if they do not they loose , fear is key.Also interesting is some Shaid and other burki are insiders wonder is this same fellow who write in Dawn and favorite of Rajasahibs economy commentator former finance minister of our country. They have new work in Australia and company is going from 1977 under this name that is not bad.
Any other interesting comanires with pakistan on american or english bourses ? If they are please let me know, its interesting to see companies doing business in foregn countries.
Good afternoon.
This interesting stock for sure there is some safety built in. Insiders that uiis ghouri family hold atleast 2 million shares. so 2x1.5=3 million, total capitalization is about 25 milliom , so almost 12% is owned by family so they will do best to have better performance.If if they do not they loose , fear is key.Also interesting is some Shaid and other burki are insiders wonder is this same fellow who write in Dawn and favorite of Rajasahibs economy commentator former finance minister of our country. They have new work in Australia and company is going from 1977 under this name that is not bad.
Any other interesting comanires with pakistan on american or english bourses ? If they are please let me know, its interesting to see companies doing business in foregn countries.
Good afternoon.
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