Dollar hits historical high at Rs157 intraday in interbank market

[Protest_again]

before things get better they have to hit rock bottom first.
That is all that is happening right now.

India went through the same in the early 90s.

No India did not. India went to IMF once and paid off entire debt with a check well before the program period ended.

It was a different time (India not open to outside business) and different circumstances ( gulf war to spike up oil prices ) that led to India's balance of payment crisis.

Pakistan went to IMF like what 22 times. How is this similar to India.

 

[maithil]

i think govt want to devalue currency so that institutions it wants to privatize become cheaper for buyers of these institution who may be those capitalist like jhangir Tareen and other investors who funded them in winning elections or other foreigner investors who imf wants to buy our institution for cheap price

This seems to be the plan. Sell all state assets at huge discount and then rupee will start gaining. Same old crony capitalism in Naya Pakistan.

 

[JohnWick]

Worst situation of Pak economy.

 

[Yaseen1]

In a nation where public is easily made fool and trust on apparent words and speeches of leaders without considering their actual performance and decision ,doing corruption always finds its way as it is happening here in Pakistan.I not see end of corruption from here atleast for next decade.
These are new form of capitalists who invest in certain leaders having large following like ik and then use them to earn high profits just like businesses use stars and influential personalities for advertisement of their products to earn huge amounts by selling it to common public who buy product blindly without inspecting its quality due to their love and trust on these hired stars and influential personalities .This is exploitation of public using personal charisma of certain people

This seems to be the plan. Sell all state assets at huge discount and then rupee will start gaining. Same old crony capitalism in Naya Pakistan.

 

[Norwegian]

In a nation where public is easily made fool and trust on apparent words and speeches of leaders without considering their actual performance and decision ,doing corruption always finds its way as it is happening here in Pakistan.I not see end of corruption from here atleast for next decade.
These are new form of capitalists who invest in certain leaders having large following like ik and then use them to earn high profits just like businesses use stars and influential personalities for advertisement of their products to earn huge amounts by selling it to common public who buy product blindly without inspecting its quality due to their love and trust on these hired stars and influential personalities .This is exploitation of public using personal charisma of certain people

Stop lying. Government cannot control price of dollar when there are no dollars left in treasury by former government:

Difficult to stabilize rupee at the moment: Abdul Hafeez Sheikh
PAKISTAN 2019-06-14
Difficult to stabilize rupee at the moment: Abdul Hafeez Sheikh
Karachi: Advisor to the Prime Minister on Finance, Dr. Abdul Hafeez Sheikh, said on Friday that currently it is difficult to stabilize the rupee.
While addressing a seminar in Karachi, Dr. Sheikh said that the Pakistan Tehreek-e-Insaf led federal government inherited a weak economy with total debts now reaching $97 billion.

He reiterated that the government is trying to stabilize the economy with its recent steps and strengthen it with its policies.

Talking about the dollar, Dr. Sheikh said that cuyrrently we are importing almost everything, thus it has become difficult to stabilize the rupee.
Commenting on the budget 2019-20, Dr. Sheikh said that the government was making all possible efforts to raise Rs.5500 in revenue collections

 

[Rusty]

No India did not. India went to IMF once and paid off entire debt with a check well before the program period ended.

It was a different time (India not open to outside business) and different circumstances ( gulf war to spike up oil prices ) that led to India's balance of payment crisis.

Pakistan went to IMF like what 22 times. How is this similar to India.

Yes yes, India was a supa dupa pawa for 5000 years.

If you were not a retarded Indian, you would know that India hit rock bottom in the early 90s and that forced them to change the entire way their society was run. Opening up to market capitalism.

Pakistan is also hitting rock bottom and this will force us to change the way our society works, especially regarding taxation.

 

[Fawadqasim1]

It's a spike due to post eid importer buying
It will settle down insha allah

 

[Protest_again]

Yes yes, India was a supa dupa pawa for 5000 years.

If you were not a retarded Indian, you would know that India hit rock bottom in the early 90s and that forced them to change the entire way their society was run. Opening up to market capitalism.

Pakistan is also hitting rock bottom and this will force us to change the way our society works, especially regarding taxation.

Like I said Pakistan hit rock bottom 22 times, it is yet to learn. Lets hope it does this time especially regarding taxation like you said. Although I could think of much better reason.

 

[Rusty]

Like I said Pakistan hit rock bottom 22 times, it is yet to learn. Lets hope it does this time especially regarding taxation like you said. Although I could think of much better reason.

and like I said, you are stupid.

Previous governments took out loans for their corruption. That is not rock bottom.

 

[Abdussamad]

Good for Exports. Especially Tomato.

We used to import tomatoes from india but all that stopped after the recent flare up. Exporting them is unlikely.

Fun fact: Tomato prices have a significant effect on inflation calculations in Pakistan. Brecorder called it tomatoflation!

 

[Type59]

Maybe the corrupt are converting the money to dollars. Banks and airports need to be on guard for currency smuggling.

 

[litman]

so what will be the new price of petrol at the start of july??? 120 rs?

 

[Abdussamad]

Yes yes, India was a supa dupa pawa for 5000 years.

Historically just two countries India and China accounted for 50% of global GDP. The British were attracted to India precisely because it was so wealthy. So India was a super power for many millenia.

 

[litman]

the only thing left in pak at which the public is not paying tax is breathing air. in next budget it will be taxed as well and there will be a life tax on being alive in pakistan.

 

[Defense Reader]

PM Imran Khans to SCO say No to Dollar
https://profit.pakistantoday.com.pk/2019/06/14/pm-imran-says-no-to-dollar-at-sco/