This article is exactly why I hate the PML-N and Nawaz Sharif who is probably the most morally devoid and corrupt PM in this nations history and his supporters making up excuses for his treachery is deplorable.
This is what was going to happen following Nawaz Sharif and Musharraf's economic liberalization in the late 90s and early 2000s which was simply followed by the PPP under Zardari with no attempts to correct the system.
Had this moron had his way and given MFN to India it would have been even worse.
Under Nawaz Sharif, like the PPP and Musharraf, Pakistan's trade deficit has continued to climb:
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So in a situation where Pakistan has been increasingly importing, to a point now that it imports over 200% more than it exports, the better question is why wasn't the rupee allowed to devalue much sooner?
China is accused of artificially devaluing its currency to boost exports while the "genius" leadership of the PML-N thought instead it was more prudent to artificially keep the rupee value high using valuable foreign exchange accrued and/or saved through loans, FDI, remittances, whatever little exports we had and lower oil prices (global average oil price being $66.78/bbl from 2013-2017 down from $86/bbl from 2008-2012) which represented a big bulk of our overall import bill at the cost of increased investment into our industries.
No money for industries and industrial development signified by the growing Current Account Deficit because all we kept doing was importing:
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No surprise Nawaz Sharif himself admits that they artificially balanced the rupee with the American dollar:
https://dailytimes.com.pk/331172/pml-n-maintained-balance-between-dollar-and-rupee-nawaz/
I commend Imran Khan and the PTI for allowing this devaluation. The SBP desperately tried to correct this issue but was repeatedly prevented from doing so by the PML-N.
I have my disagreements with Khan, I think he's too soft and nice and is listening to this deplorable liberal menace far too often, but he's a lot better than that fat Hindu terror placating moron Nawaz Sharif.
If this article is an indication of his experience, knowledge and character as a journalist than he's severely lacking.