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If rupee is really weak, GOP should let it slide slowly. If they can control rates for such a long-term on borrowed money, they can definitely let it slide slowly and bring it to its natural level. This kind of fluctuation won't help the economy. Multinational companies might hurry to take their profit out before big correction and that will impact PKR negatively. I have seen trends where big outside investors have done so in Pakistan in past. Again majority imports which Pakistan is doing are for infrastructure and on capital goods. That will drive the cost of projects upwards. I can understand government kept Ruppe at an artificial level so they can borrow money easily and import cost stays in the limit.
Start putting a customs duty on all capital goods imported for CPEC. In corrupt setup, that kind of exemption always gets used for the wrong purpose. There is no end to end tracking of goods. This has happened earlier when goods were flowing in Afghanistan. Government loses tax and import kept increasing.
With 100% increase in past 2 years, did government is showing an increase in customs duty?
God knows how much corruption money went out in the name of fake/overvalued imports with no customs duty.
If I will say anything about CPEC, I will get digitally lynch on the forum, but I feel the government is using the emotional support of public behind CPEC and rich and powerful people are making money in both countries.
All these farce is making things going out of spiral with PKR.
Start putting a customs duty on all capital goods imported for CPEC. In corrupt setup, that kind of exemption always gets used for the wrong purpose. There is no end to end tracking of goods. This has happened earlier when goods were flowing in Afghanistan. Government loses tax and import kept increasing.
With 100% increase in past 2 years, did government is showing an increase in customs duty?
God knows how much corruption money went out in the name of fake/overvalued imports with no customs duty.
If I will say anything about CPEC, I will get digitally lynch on the forum, but I feel the government is using the emotional support of public behind CPEC and rich and powerful people are making money in both countries.
All these farce is making things going out of spiral with PKR.