PTI is the worse thing ever happen to Pakistan.
If we're all posting our PTI, PPP or PML-N hate using imported phones, imported laptops while sitting in imported ACs sipping on an imported drink or water chilled in an imported fridge while lighting our room in imported LEDs, are PTI, PPP or PML-N really to blame or we're just too ashamed to admit our own part in this?
This very site has both its web traffic and email routing through foreign hosts. What do we as Pakistanis export to afford these imported items. Cotton? Keenu? Mango? Salt?
I don't even want to mention the expensive cars 80% of whose parts come from abroad, not to mention the defense equipment, most of which is also imported!
You do realize we export $25-27 billion while our imports are ~$55-62 billion. We spend double of what we earn (the Pakistanis living in Pakistan). Rest comes from loans or remittances.
The very rise of Dollar vs Rupee ensures overseas Pakistanis get more PKR for each dollar that they send home and this might lead to a continuation of the record high inward remittances that we have seen over the past year or two (I know Covid etc and other factors weigh in)..
Your import bill is increasing due to increasing crude prices and exports are very low thus high trade deficit as a result declining rupee.
USD Will hit 200 by year end if imports are not reduced.
Crude is just one factor, i'll add LNG. We have
- Car sales have skyrocketed in the past 12 months and Pakistan imports majority of parts
- imported wheat and sugar to sure up staple reserves.
- a government in its last 2 years, a time when they would naturally want to spend liberally and encourage businesses (a large portion of which depend on imports) so that they can see local wealth creation/GDP rise.
The neighbor dude is rational when he can be ultra-national like so many other Indians on this forum! Nice to see!