9-month high: Rupee strengthens to 99 against dollar

[VCheng]

Thats the main factors, including law & order and ease of business. Do you see them improving as the years go by till election time at least? If yes then could it be too much to ask if investors predict the same.

The chances of a sustainable improvement on law & order and ease of doing business in Pakistan are slim to none over the next few years.

 

[S.Bukhari]

Imran Ab tu apnay dollar baych du. in one year dollar will be 0.98 against PKrs dil ko bhalanay ko Galib ka khayaal acha hai

Ghareeb admi k pass koi source of income nahi jobless hay Chota sa 40 acres Ka Ghar hay dollars kahan say laye ga yar kuch to khayal karo.

 

[ziaulislam]

The chances of a sustainable improvement on law & order and ease of doing business in Pakistan are slim to none over the next few years.

all those economist , traders and forex experts who think positive are idiots i guess.

as we all know current rapid rupee appreciation a sentiment factor, sentiment=expectation/chances

 

[Imran Khan]

Ghareeb admi k pass koi source of income nahi jobless hay Chota sa 40 acres Ka Ghar hay dollars kahan say laye ga yar kuch to khayal karo.

us se bhi ghareeb hain yaar

 

[VCheng]

all those economist , traders and forex experts who think positive are idiots i guess.

as we all know current rapid rupee appreciation a sentiment factor, sentiment=expectation/chances

Appreciation on "sentiments" means there is no real substance to the rally.

 

[Chak Bamu]

There is no pessimism in what I say, only reality.

Find me ONE pessimist who does NOT say so.... Just one.

Pessimism is a disease and your are a sad sad sufferer....

Or perhaps you hide behind your location flag and pretend to be a Pakistani...

In any case you refuse to see anything positive in Pakistan.

The chances of a sustainable improvement on law & order and ease of doing business in Pakistan are slim to none over the next few years.

Says who????

You?

You are a nobody and you know nothing about Pakistan and Pakistanis....

 

[Rahil khan]

The chances of a sustainable improvement on law & order and ease of doing business in Pakistan are slim to none over the next few years.

Your statement is hilarious..!! Doing business in Pakistan is more easy as compared to other countries in the region.

 

[VCheng]

Your statement is hilarious..!! Doing business in Pakistan is more easy as compared to other countries in the region.

Business can flourish only in a steady climate including proper enforcement of contractual and other laws. Most of South Asia has serious problems regarding these aspects.

 

[SBD-3]

Business can flourish only in a steady climate including proper enforcement of contractual and other laws. Most of South Asia has serious problems regarding these aspects.

Contract enforcement is just one of the measures in determining the ease of business index. The statement is more like an example of blind men and elephant argument.

 

[VCheng]

Contract enforcement is just one of the measures in determining the ease of business index. The statement is more like an example of blind men and elephant argument.

Yes, basics like trained workforce and good infrastructure come first, but Pakistan lacks those too.

 

[SBD-3]

Yes, basics like trained workforce and good infrastructure come first, but Pakistan lacks those too.

None of the both is included in the index
you may have a look here.
Ranking of economies - Doing Business - World Bank Group

 

[VCheng]

None of the both is included in the index
you may have a look here.
Ranking of economies - Doing Business - World Bank Group

Yes, that index is based only on the regulatory environment. The basics are assumed to be present. For example, the ease of getting a new electrical connection is included, assuming that there will power available. If there is a connection, what good is it without power?

 

[forcetrip]

Appreciation on "sentiments" means there is no real substance to the rally.

Another milestone: Dar credits PDF for dollar depreciation

ISLAMABAD:
In a rare acknowledgement, Finance Minister Ishaq Dar on Wednesday said that a friendly Muslim nation gave $1.5 billion for Pakistan Development Fund (PDF) but refrained from disclosing the lender’s name.
“A friendly Muslim country has confidence in Pakistan and its leadership and deposited $1.5 billion in the PDF,” he said.
Speaking at a press conference, an unusually upbeat Dar claimed PDF contributions, actions against exporters who were withholding export receipts abroad and warnings to exchange market speculators – helped recoup the depleted foreign currency reserves to $9.52 billion.
Dar said better foreign currency reserves position strengthened the value of rupee against the US dollar bringing it to a record low of Rs97.90 on Wednesday. “The dollar’s current rate is realistic”, he added.
Highlighting details, Dar said the benefits of a stronger rupee are such that the country’s dollar-denominated external debt has reduced by Rs800 billion ($8.2 billion). This will also translate into reducing prices of electricity and petroleum products that will lower inflation, he added.

Wading through question on PDF, the finance minister said that the fund will be channeled through the State Bank of Pakistan (SBP) to finance mega energy and infrastructure projects initiated by the prime minister.
“The difficult period of getting external inflows is over and the government has added net $2 billion in reserves in last one month”, he announced.
A buoyant Dar also said he was confident that the reserves will cross $10 billion by the end of this month and $16 billion by end of current fiscal year.
With a ring of cautious optimism, the finance minister vowed that in three years the reserves level will be taken up to $20 billion, adding that the present rupee-dollar parity was sustainable as long as the reserves position remained stronger.
Quashing reports, the finance minister maintained that the government did not dump dollars in the market to artificially strengthen the rupee.
People should have confidence on what the government says and it has proven what it said so far, said the finance minister trumpeting his administration’s record.
Taking a swipe at those who criticized the government for its failure to control prices of essential items, Dar said the price of onions, tomatoes and dollars has been brought down to the level when Prime Minister Nawaz Sharif took oath.
During the press conference, Dar also said he would not pursue anyone to resign after the rupee-dollar parity has been brought back to Rs98 a dollar. But it’s the media that was holding him (Sheikh Rashid) accountable for his claim, he added.
In response to Dar’s claim to bring dollar rate below Rs100, Awami Muslim League (AML) chief Sheikh Rashid, had challenged the finance minister and said he would resign, if Dar succeeded in lowering the value of US dollar.
On negotiations with Taliban, the finance minister said that in case talks collapsed, government will provide all financial resources necessary to launch military operation.
Responding to a question, Dar said the United States was bearing the direct cost of war against terrorism through Coalition Support Fund (CSF). But the indirect cost in shape of loss of employment, foreign investment was very difficult to calculate.
“One cannot put a price tag to the cost of war on terrorism but according to one estimate Pakistan has so far sustained $80 billion losses, both direct and indirect”.
He said $1.6 billion CSF dues were outstanding and Washington was expected to release another tranche of $400 million by early April this year.

 

[VCheng]

ISLAMABAD:
In a rare acknowledgement, Finance Minister Ishaq Dar on Wednesday said that a friendly Muslim nation gave $1.5 billion for Pakistan Development Fund (PDF) but refrained from disclosing the lender’s name.
“A friendly Muslim country has confidence in Pakistan and its leadership and deposited $1.5 billion in the PDF,” he said.

Shukran Ya Habibi.

This is money with strings attached.

 

[forcetrip]

Shukran Ya Habibi.

This is money with strings attached.

8.5% tax-to-GDP ratio is unsustainable: Ishaq Dar

ISLAMABAD: The current 8.5% tax to GDP ratio is unsustainable, Finance Minister Ishaq Dar said while speaking to a gathering of Income Tax Commissioners on Thursday afternoon.
He said a tax to GDP ratio of 13 to 14 percent would be a “win-win situation for Pakistan”, and that this should be the target of the present government’s tenure.
He also highlighted extraction of natural resources as an economic goal. He said that petroleum production is expected to be at 30%, adding that according to recent estimates the country had 30 trillion cubic feet of gas, which has been left neglected.
In his address, the finance minister also emphasised the importance of transparency, merit, good governance and zero tolerance to corruption.

8.5% tax-to-GDP ratio is unsustainable: Ishaq Dar – The Express Tribune