Should Pakistan Suspend Dollar Trade (Outflow)

[AZADPAKISTAN2009]

Should Pakistan Suspend Dollar Outflow to general Public for 30 days ?

It should stabilize the inflow of dollar to stabilize the reserves

If the outflow is blocked , the reserves will rise and people hoarding the dollar will automatically be forced to sell their dollar

 

[Imran Khan]

kuch to karo sirf bateen ho rahi hain . imran khan kidher so raha hai ajkal ?

 

[AZADPAKISTAN2009]

I think the moment has arrived where , Government bans , conversion of rupee to Dollar locally in Pakistan

• Allow conversion of Dollar into Rupee if Citizens want to sell Dollar back to Government
• People holding More then 10,000 USD , should be given Pakistan Bano Certificate instead by Government of Pakistan , or they should convert their extra funds to Rupee

30 Days would be sufficient to stop the damage while new cash comes from overseas into Government's account

 

[B.K.N]

What would happen if Pakistan stops importing all unnecessary things

 

[AZ1]

Only four things needed here

1- only allow bank to exchange with dollars

2- only allow $2000 per person go outside

3- ask all people outside to send remittance to their love ones through banking channel.

4- allow anyone from outside to send limited dollars per month $2000 if they are not relative rather than asking to become filer.

 

[AZADPAKISTAN2009]

People who are investors would be better off to get Pakistan Banao Certificate vs holding Hard cash !!!

If we stop the distribution of Dollar internally in Pakistan, the Dollars coming from outside should fill up government account and stabilize the situation


State Bank , gives notice to Local Banks : Please do not Sell Dollar to Public , Only Buy Back
Ban for 30 - 60 days

Option A: Citizens can sell Dollars back to State Bank , and get Investment Certificate (3 year, 5 years). Physical dollar will not be given will remain with state bank
Option B: Citizens can sell Dollars back and get Rupees back



It is not Rocket Science to Stop fall of rupee

 

[Cash GK]

kuch to karo sirf bateen ho rahi hain . imran khan kidher so raha hai ajkal ?

There is news going ton that PM order to close money exchanges in whole country..only post office and banks will deal with dollars..am I right ?

 

[AZ1]

People who are investors would be better off to get Pakistan Banao Certificate vs holding Hard cash !!!

If we stop the distribution of Dollar internally in Pakistan, the Dollars coming from outside should fill up government account and stabilize the situation


State Bank , gives notice to Local Banks : Please do not Sell Dollar to Public , Only Buy Back


Option A: Citizens can sell Dollars back to State Bank , and get Investment Certificate (3 year, 5 years)
Option B: Citizens can sell Dollars back and get Rupees back

Problem is bank itself. Lets say i ask you to send me $5,000 as loan and you live in usa.

You send me $5000 via bank or western union.

I wouldnt be able to cash it out. Even i say u have given me as loan. They will say become filer first. That is one case that is happening


2nd case that happened in front of my eyes. Forigern guy came in bank to open foriegn account so that he can send $ from USA. Manager came and ask where do you job in USA he provided document, then manager ask do you pay taxes in USA? I meant why asking this quesstion he is bringing dollars in country. He got frustated and left saying why i will give u proof if I pay tax in usa or not.

I know i quoted you have nothing to do with this but if this is the behavior why would anyone invest in buying certificate

There is news going ton that PM order to close money exchanges in whole country..only post office and banks will deal with dollars..am I right ?

Not real news i guess just photoshoped pic of tweet

 

[Murgah]

bhai action lena hamare handaome pm ka kam he jo siwae bato ke kuch kr nai rhe

Problem is bank itself. Lets say i ask you to send me $5,000 as loan and you live in usa.

You send me $5000 via bank or western union.

I wouldnt be able to cash it out. Even i say u have given me as loan. They will say become filer first. That is one case that is happening


2nd case that happened in front of my eyes. Forigern guy came in bank to open foriegn account so that he can send $ from USA. Manager came and ask where do you job in USA he provided document, then manager ask do you pay taxes in USA? I meant why asking this quesstion he is bringing dollars in country. He got frustated and left saying why i will give u proof if I pay tax in usa or not.

I know i quoted you have nothing to do with this but if this is the behavior why would anyone invest in buying certificate


Not real news i guess just photoshoped pic of tweet

hamara system hi sab se bari rakawat he is lie ache ki umeed rakna fazool he

 

[Imran Khan]

There is news going ton that PM order to close money exchanges in whole country..only post office and banks will deal with dollars..am I right ?

bro tell me when its done

 

[maithil]

Suspending outflow means complete halt of imports. IMF has actually asked govt to reduce tariff on imports.

 

[waqasmwi]

Only four things needed here

1- only allow bank to exchange with dollars

2- only allow $2000 per person go outside

3- ask all people outside to send remittance to their love ones through banking channel.

4- allow anyone from outside to send limited dollars per month $2000 if they are not relative rather than asking to become filer.

You should be the Finance Minister of Pakistan

 

[CrazyZ]

Capital controls are the nuclear option for the forex situation. Would help forex but hurt local retailers and consumers. Would make no difference to energy imports since those can only be bought in dollars.

 

[Fawadqasim1]

State Bank of Pakistan can't give any such Orders under imf preconditions.

 

[Sugarcane]

There is news going ton that PM order to close money exchanges in whole country..only post office and banks will deal with dollars..am I right ?

#FakeNews

But before doing anything else, Government must do following things
1. Money changer must record CNIC of people selling forex
2. Money changers must issue Invoices for transactions
3. Money changers should not sell cash forex to anybody, open counters at airports (after check in) where traveler can buy forex (Up to $3000)
4. For outward remittances, money changer shouldn't be allow to accept cash if transaction is more than $2000. It should be either digital payment (electronic transfer, debit card) or banking instrument Cheque, DD, Pay order etc.
5. Money changers must report their daily transactions and closing balances. Government can raid money changers and confiscate the forex excess of what they reported.
6. After the expiry of amnesty scheme which government have announced (and as per the scheme people should declare cash and deposit in bank), Government should confiscate forex it found in possession of anybody.

Once above is done then exchange rate will be as per dynamics of supply and demand which should be kept stabilized by managing imports and exports.