US dollar hits all-time high of Rs142 in interbank market

[Norwegian]

Pakistan is currently reaping the fruits of his monetary policy. World's renowned macroeconomist Dr Atif Mian mentioned it too:

One reason for Pakistan’s poor export performance was Dar’s strange infatuation with keeping the rupee at or below the rate of 100 per US dollar — something he openly acknowledged in December 2013. The rupee exchange rate, like any other price in the economy, is ultimately a function of demand and supply. Dar’s insistence on keeping an overvalued exchange rate disproportionately hurt exports.

 

[rak_987]

This depreciation increases debt even though ones not borrowing. Over PKR 432 million burden added in a day over Pakistani taxpayer . PTI should be ashamed of themselves they are now of the same level is Zardari's PPP. Patwari Munshi Dar performed better than them. PTI continuing to blame previous govt. yet keeping their bureau mafia and policies not going to work. They knew about it beforehand if PTI had no idea how to manage or unable to remove the kleptocrats they should'nt have taken the govt. Nobody offered them they barked and pleaded infornt of public to vote for them so that they can change the system not uphold the same.

 

[Norwegian]

This depreciation increases debt even though ones not borrowing. Over PKR 432 million burden added in a day over Pakistani taxpayer yet no arrests no measures only randi rona about previous govt. not going to help. PTI should be ashamed of themselves they are now of the same level is Zardari's PPP. Patwari Munshi Dar perofrmed better than them.

Stop trolling. Previous government delicately put dollar exchange rate around 100 RS to make it "feel good" while economy was devasted in the background

 

[Canuck786]

Pakistan is currently reaping the fruits of his monetary policy. World's renowned macroeconomist Dr Atif Mian mentioned it too:

One reason for Pakistan’s poor export performance was Dar’s strange infatuation with keeping the rupee at or below the rate of 100 per US dollar — something he openly acknowledged in December 2013. The rupee exchange rate, like any other price in the economy, is ultimately a function of demand and supply. Dar’s insistence on keeping an overvalued exchange rate disproportionately hurt exports.

It's funny you mentioned Atif Mian which makes me curious of his whereabouts and why is he not devising our fiscal policy?

 

[Norwegian]

It's funny you mentioned Atif Mian which makes me curious of his whereabouts and why is he not devising our fiscal policy?

He was forced to resign because of his Qadiani faith, despite being the only expert on macroeconomic development, and internationally recognized.

 

[BHarwana]

Like those NS tattas on this forum, you have taken on the official post of IK's tatta. Question is, are you his left ball or right ball? Hope Bushra bibi doesn't mind.

Sorry bro you think that I am such but I am not and you are completely wrong. What ever I did in this thread was for a reason and that reason opened eyes of many here about the economy of Pakistan and what path Pakistan should take.

 

[rak_987]

@Norwegian

Economy was fine before Asad Umar stepped in, enough of this bs. PML-N did'nt promise they'll not go to IMF or shake up system. They said they'll manage the existing system better. People voted against them for PTI who promised they'll change the status quo, bring reforms in civil service and police. After Asad Durrani resignation PTI has gone into silent mode on both of these promises. Instead they've wreaked havoc on the middle class and poor. Utility bills are incresed Rs. 1.7 per unit to Rs. 18 per unit [most expensive in the region] for those who pay regularly. FOr those who pay this burden is shifting continously whereas mafias eat cake and increase their wealth.

It's funny you mentioned Atif Mian which makes me curious of his whereabouts and why is he not devising our fiscal policy?

Rofl he was part of EAC, it was'nt a decision making body. All the decisions are approved in ECC and Federal cabinet meetups.

Plus we need to stop lying to ourselves that foreign talent will do something spectacular.
What have the foreign educated doctors, engineers practicing in Paksitan have achieved in last 20 years? Foreign educated doctors only minting money in private hospitals whereas Engineers majority are venturing into Middle East. They keep a foreign passpot why would they give a damn about Pakistan?
The biggest contribution to Pakistan was done by a person who did'nt complete matric by the name of Abdul SAttar Edhi. More than education we need sincere people. And dual nationals with homes outside the country can't be sincere to Pakistan unless they are benefiting financially.

 

[Norwegian]

Economy was fine before Asad Umar stepped in,

No it wasn't. Pakistans debt growth both internally and externally spiraled out of control. And Ishaq Dollar was responsible for the mess.

They said they'll manage the existing system better.

Exactly how? First they took more loans than entire history of Pakistan. Then magically they will fix the self created mess?

 

[Canuck786]

He was forced to resign because of his Qadiani faith, despite being the only expert on macroeconomic development, and internationally recognized.

That's what I mean; being Qadiani is not a testimonial of one being or not being an economist. A leader is the one makes decision based on if it's workable rather than if it's popular and definitely not on one's ability to take U-turns.

 

[Norwegian]

That's what I mean; being Qadiani is not a testimonial of one being or not being an economist. A leader is the one makes decision based on if it's workable rather than if it's popular and definitely not on one's ability to take U-turns.

Atif Mians brilliant analysis on Pakistans macroeconomic mess caused by past governments policies are readily available on the internet. Even if he is not directly advising government, his analysis can still be used to fix the mess. At least new government is trying to undo Ishaq Dollars damage.

 

[rak_987]

@Norwegian

Ishaq Dar was'nt even here in 2017 due to SC cases against him. It was Miftah Ismail who was handling economy and he had said in May 2017 that IMF is asking Rupee to be devalued to PKR 132. IMF and US for one and a half years were waiting for Pakistan to contact IMF. There arm-twisting in FATF was also due to same policy. During caretaker govt. when all foremer lending organization heads like Shamshad Akhtar became FM they quietly started negotiating with IMF and in few days rupee crossed 107 to 122. CAretaker gotv. are'nt supposed to make such decisions so this is pre-planned rigging. PTI then was burning both these setups. After joing govt. they extended the talks as well as cajoling IMF which now is demanding PKRs. 150 to a dollar. This is a catastrophe.

You have no idea what you are talking about Atif Mian even if he was part of govt. was'nt the decisionmaker. US-based economists at a time when US has been screwing Pakistan's economy since 1992 is a bad idea.

 

[Canuck786]

..And dual nationals with homes outside the country can't be sincere to Pakistan unless they are benefiting financially.

Aren't we being judgemental here. For the record I am one such person and I have no doubts about my sincerity towards Pakistan. Perhaps I shouldn't be because it homes some of the worst pessimist people but then every society has it's rotten eggs.

 

[Norwegian]

@Norwegian

Ishaq Dar was'nt even here in 2017 due to SC cases against him. It was Miftah Ismail who was handling economy and he had said in May 2017 that IMF is asking Rupee to be devalued to PKR 132. IMF and US for one and a half years were waiting for Pakistan to contact IMF. There arm-twisting in FATF was also due to same policy. During caretaker govt. when all foremer lending organization heads like Shamshad Akhtar became FM they quietly started negotiating with IMF and in few days rupee crossed 107 to 122. CAretaker gotv. are'nt supposed to make such decisions so this is pre-planned rigging. PTI then was burning both these setups. After joing govt. they extended the talks as well as cajoling IMF which now is demanding PKRs. 150 to a dollar. This is a catastrophe.

You have no idea what you are talking about Atif Mian even if he was part of govt. was'nt the decisionmaker. US-based economists at a time when US has been screwing Pakistan's economy since 1992 is a bad idea.

IMF is demanding RS price to be set based on reality of Pakistans economy, and not set artificially high as your favorite Ishaq Dollar did with currency manipulation. New government is bringing the price where it should be after 5 years of bad governance by again your favorite corrupt pmln.

Aren't we being judgemental here. For the record I am one such person and I have no doubts about my sincerity towards Pakistan. Perhaps I shouldn't be because it homes some of the worst pessimist people but then every society has it's rotten eggs.

True. Fully agreed.

 

[rak_987]

@Canuck786

I'm not being judgemental. I'm being honest.

Compare yourself to Non-resident Indians [NRIs] who are not allowed to keep passports if they have taken foreign citizenship yet they invest, keep a bank account and contribute in their economy by putting their insured pots in govt.s kitty in India.

Foreign educated Doctors practicing in Pakistan are chewing the bones of Paksitanis by taking exorbitant fees which also was discussed recently in SC. Most overseas Paksitanis are neither investing nor keeping any investment in Pakistan economy. They much rather invest abroad. Canada and US have introduced path to citizenship for corrupt jerk who destroy Pakistan all their lives and shift money to their countries.
The Educatedjerks have damaged the country more than the uneducated who send more remittances than the rich

QUOTE="Norwegian, post: 10982991, member: 161346"]IMF is demanding RS price to be set based on reality of Pakistans economy, and not set artificially high as your favorite Ishaq Dollar did with currency manipulation. New government is bringing the price where it should be after 5 years of bad governance by again your favorite corrupt pmln.


True. Fully agreed.[/QUOTE]

OVerseas PTI dumbos are crazy
IMF is placing 'conditions', its donkey Asad Umar's fault ro jitna rona hai if PTI implements IMF they can kiss goodbye completing their tenure. Early elections will fix our economy.

 

[Canuck786]

@Canuck786

I'm not being judgemental. I'm being honest.

Compare yourself to Non-resident Indians [NRIs] who are not allowed to keep passports if they have taken foreign citizenship yet they invest, keep a bank account and contribute in their economy by putting their insured pots in govt.s kitty in India.

Foreign educated Doctors practicing in Pakistan are chewing the bones of Paksitanis by taking exorbitant fees which also was discussed recently in SC. Most overseas Paksitanis are neither investing nor keeping any investment in Pakistan economy. They much rather invest abroad. Canada and US have introduced path to citizenship for corrupt jerk who destroy Pakistan all their lives and shift money to their countries.
The Educatedjerks have damaged the country more than the uneducated who send more remittances than the rich

Translation..

Kya lekar aye ho
Kya dekar jao ge