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Because of Previous PML- N govt. Plus PPP govt. Don't include Musharraf Marshall Law and the again precious govts. Don't include previous marshall laws and again this devaluation because of previous democratic govts. Finally because of Mr. Jinnah.
Forex as interesting as it is to count the rise and fall is not sovereign wealth that can be used for infrastructure. It's simply acquired through debts, capital flows, asset, commodities held etc... and is useless for the most part if you have enough to cover imports for at least 10 months or a year. On the plus side, the central bank can make money through the management of these assets, especially when the value of currency holdings appreciates. But the return is a very small sum, irrelevant considering the value of assets held.Imagine if that 20 billion was spent to rebuild our railways, national grid and to build infrastructure needed for Industry or even for national defence.
Technically every Pakistani is responsible for their own dilemma. When the scum can broadly proclaim support for a political party by saying “we love corruption!” It tells you the moral gutter such Pakistanis like to live in.Now start cursing every Pakistani. Last option.
Technically every Pakistani is responsible for their own dilemma. When the scum can broadly proclaim support for a political party by saying “we love corruption!” It tells you the moral gutter such Pakistanis like to live in.
for last couple of years pakistani rupee is free floating...... for how many centuries it will take to determine its real value??? in developed economies central bank intervene if currencies show abnormal trends for example The U.S. monetary authorities occasionally intervene in the foreign exchange (FX) market to counter disorderly market conditions. The Treasury, in consultation with the Federal Reserve System, has responsibility for setting U.S. exchange rate policy, while the Federal Reserve Bank New York is responsible for executing FX intervention.
and same thing is happening in several other countries ....... but our central bank is sleeping wo bhe satoo pee kay
yes... but govt can control it if they only want ... simply they were not aware of their imports which hit them straight at face in a single month it reach all time high ... the incompetence of economic team of IK is at full swingHere we discovered another version of Dr. Adam Smith named the legend who taught us comprehensively during his election campaign that Pakistani currency should have self regulatory mechanism. But we never knew that this free market place would be created under the strict rules and conditions of IMF, for which IMF will send his own man to serve as Governor SBP. Just check the history of Raza Baqir, and check what havoc he played with the Egyptian people.
Dollar will cross 180 this very year. And if IMF or Asian Development Bank will refuse/delay to pay further, than it will cross 200 because we have to return 30 Billion USD worth of loans in this very calendar year. .