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dollar hitting 188, bloodbath at stock market crash

AZ1 said:
https://twitter.com/x/status/1524271560328192000
Click to expand...

The PTI term was one of the most competent term especially in terms of economy.

He took the toughest of decisions of any government in the past and was handling economy better than anyone else could do in managing the economy in the face of COVID ( the best performing economy in comparison to all our regional countries) to handling the most ruthless commodity price inflationary cycle. ( Bent reached $130/barrel, Spot LNG market frenzy).


This foreign imposed government got only a fraction of challenges which IK got when he took over the office.

1) IK government had to deal with 4 years of backlog inflation ( due to artificially manipulated and over valued currency) let loose. The toughest ask of any government in history.

2) Gas prices were heavily subsidised which IK government had to raise prices multiple times, they managed to pass the WACOG bill aswell.

3) Electricity prices were never raised in plmn government on the other hand expensive IPP contracts were signed left and right.

4) Reserves were far less when IK government took over combine that with CAD accelerating at $2b per month as compared to $0.5b in Feb 2022 and $1b in March 2022.
GDP growth for the first 9 months of this FY is around 5%.
Not to mention Vaccine import and TERF rollout. ( which contributed most to CAD this FY).

5) Exports registered at $3b for the first time in March, Remittances highest by a huge margin, IT services export record. ( All these things helped in managing CAD which is less than in 2018 in the face of vicious broad based commodity inflationary cycle, vaccine imports and TERF rollout)

6) Regarding IMF if people forget easily PTI passed the toughest legislation along with the toughest economic decisions to get the IMF tranche in Feb this year.

7) Fuel subsidy in March was just Rs 32b, it was designed with a limit. ( The knowledge I have is from the profits of government owned enterprise which made record profits). This government is not even passing on the price hike from their tenure of one month while blaming it on pti and on ground more than doubling the subsidy.

8) Regarding LNG India just got cheap LNG cargoes from Russia, Pakistan was planning to import the same as soon as April by implementing both Crude swap agreement, Cheaper LNG and cheaper wheat. On the other hand this government bought the most expensive LNG on record ( average of 4 cargoes they bought).

These are some of the highlights, I will IA write a detailed thread on this when I find time. Because 90% of what you hear in the media is bullshit.
 
Last edited:
Patriot forever said:
The PTI term was one of the most competent term especially in terms of economy.

He took the toughest of decisions of any government in the past and was handling economy better than anyone else could do in managing the economy in the face of COVID ( the best performing economy in comparison to all our regional countries) to handling the most ruthless commodity price inflationary cycle. ( Bent reached $130/barrel, Spot LNG market frenzy).


This foreign imposed government got only a fraction of challenges which IK got when he took over the office.

1) IK government had to deal with 4 years of backlog inflation ( due to artificially manipulated and over valued currency) let loose. The toughest ask of any government in history.

2) Gas prices were heavily subsidised which IK government had to raise prices multiple times, they managed to pass the WACOG bill aswell.

3) Electricity prices were never raised in plmn government on the other hand expensive IPP contracts were signed left and right.

4) Reserves were far less when IK government took over combine that with CAD accelerating at $2b per month as compared to $0.5b in Feb 2022 and $1b in March 2022.
GDP growth for the first 9 months of this FY is around 5%.
Not to mention Vaccine import and TERF rollout. ( which contributed most to CAD this FY).

5) Exports registered at $3b for the first time in March, Remittances highest by a huge margin, IT services export record. ( All these things helped in managing CAD which is less than in 2018 in the face of vicious broad based commodity inflationary cycle, vaccine imports and TERF rollout)

6) Regarding IMF if people forget easily PTI passed the toughest legislation along with the toughest economic decisions to get the IMF tranche in Feb this year.

7) Fuel subsidy in March was just Rs 32b, it was designed with a limit. ( The knowledge I have is from the profits of government owned enterprise which made record profits). This government is not even passing on the price hike from their tenure of one month while blaming it on pti and on ground more than doubling the subsidy.

8) Regarding LNG India just got cheap LNG cargoes from Russia, Pakistan was planning to import the same as soon as April by implementing both Crude swap agreement, Cheaper LNG and cheaper wheat. On the other hand this government bought the most expensive

These are some of the highlights, I will IA write a detailed thread on this. Because 90% of what you hear in the media is bullshit.
Click to expand...
no doubt about it but our media is filth all geo anchors are shameless and spread false news all the time
 
showbaz aur bajway aur us ka 4 darbariun .............. lanat! :lol:

stock market was at -500 and than i refreshed the page and now its at -590 crazy !
 
Last edited:
Khan_01 said:
Bajwa is toast!!. Only a matter of time now.
Click to expand...

There is a reason he wont be taking an extension. Even if hadnt committed regime change blunder his tenure as army chief has been disaster. It is also the reason they are not calling early elections bcz whatever the outcome of under his leadership army will get blamed for rigging elections.
 
SD 10 said:
showbaz aur bajway aur us ka 4 darbariun .............. lanat! :lol:

stock market was at -500 and than i refreshed the page and now its at -590 crazy !
Click to expand...
correction its -990 now !
 
Thank God it's all crashing... As a blessing in disguise... It will hurt the corrupt the most. The poor are already too poor and suffering.... After the suffering comes the reprieve.

Dollar reaches new all-time high at Rs190.10 in interbank trade

Talqeen Zubairi | Dawn.comPublished May 11, 2022 - Updated 22 minutes ago
6

A file photo of a person holding US dollar bills. — AFP/File
The US dollar on Wednesday reached an all-time high against the rupee, soaring to Rs190.10 in the interbank market during intraday trading.

The rupee was quoted at 189.89/190.04 at 11:20am with trades reported at Rs190.

The greenback appreciated by Rs1.44, surpassing Tuesday’s close of Rs188.66. The last time the dollar reached an all-time high was on April 1, when it crossed the Rs189 mark.

In the immediate aftermath of the change in government on April 11, it had gone down but the correction soon ran out of steam and now the greenback is soaring again, reaching a new all-time peak.


The rupee is under pressure due to the higher oil import bill and speculation awaiting the Saudi package, Ahsan Mehanti, director of Arif Habib Group told Mettis Global.

General secretary of the Exchange Companies Association of Pakistan, Zafar Paracha, said delays in talks with the International Monetary Fund was putting pressure on foreign reserves.

"We have to pay $10 billion this year. If the programme is not expanded, the rupee could come under a lot of pressure," he warned, urging economic managers to immediately take steps to control the situation.

A Dawn report on Wednesday said the rising exchange rate had rattled the economy.

The rupee had been losing its value mainly because of an uncontrolled rise in imports and a relatively slower pace of growth in exports. This was reflected in the trade deficit, which reached $39 billion in July-April.

Currency dealers said higher demand for dollars was the key reason for the bullish trend in the currency market. Political foot-dragging by the incumbent government on the reversal of fuel and electricity subsidies — a prerequisite for the resumption of the loan programme by the International Monetary Fund — had further eroded the confidence of stakeholders.

Meanwhile, Malik Bostan, chairman of the Forex Association of Pakistan, had also advised the government to reveal the details of the package Pakistan has received from Saudi Arabia to ease the pressure on the rupee.

During Prime Minister Shehbaz Sharif's visit to Saudi Arabia earlier this month, Saudi Crown Prince Mohammed bin Salman had agreed to discuss extending the term of a $3 billion loan to help Pakistan’s new government tide over the prevailing economic crisis.


But so far, no concrete details have come out from these talks.

6


The rupee was quoted at 189.89/190.04 at 11:20am with trades reported at Rs190.

The greenback appreciated by Rs1.44, surpassing Tuesday’s close of Rs188.66. The last time the dollar reached an all-time high was on April 1, when it crossed the Rs189 mark.

In the immediate aftermath of the change in government on April 11, it had gone down but the correction soon ran out of steam and now the greenback is soaring again, reaching a new all-time peak.


The rupee is under pressure due to the higher oil import bill and speculation awaiting the Saudi package, Ahsan Mehanti, director of Arif Habib Group told Mettis Global.

General secretary of the Exchange Companies Association of Pakistan, Zafar Paracha, said delays in talks with the International Monetary Fund was putting pressure on foreign reserves.

"We have to pay $10 billion this year. If the programme is not expanded, the rupee could come under a lot of pressure," he warned, urging economic managers to immediately take steps to control the situation.

A Dawn report on Wednesday said the rising exchange rate had rattled the economy.

The rupee had been losing its value mainly because of an uncontrolled rise in imports and a relatively slower pace of growth in exports. This was reflected in the trade deficit, which reached $39 billion in July-April.

Currency dealers said higher demand for dollars was the key reason for the bullish trend in the currency market. Political foot-dragging by the incumbent government on the reversal of fuel and electricity subsidies — a prerequisite for the resumption of the loan programme by the International Monetary Fund — had further eroded the confidence of stakeholders.

Meanwhile, Malik Bostan, chairman of the Forex Association of Pakistan, had also advised the government to reveal the details of the package Pakistan has received from Saudi Arabia to ease the pressure on the rupee.

During Prime Minister Shehbaz Sharif's visit to Saudi Arabia earlier this month, Saudi Crown Prince Mohammed bin Salman had agreed to discuss extending the term of a $3 billion loan to help Pakistan’s new government tide over the prevailing economic crisis.


But so far, no concrete details have come out from these talks.

6
 
Patriot forever said:
The PTI term was one of the most competent term especially in terms of economy.

He took the toughest of decisions of any government in the past and was handling economy better than anyone else could do in managing the economy in the face of COVID ( the best performing economy in comparison to all our regional countries) to handling the most ruthless commodity price inflationary cycle. ( Bent reached $130/barrel, Spot LNG market frenzy).


This foreign imposed government got only a fraction of challenges which IK got when he took over the office.

1) IK government had to deal with 4 years of backlog inflation ( due to artificially manipulated and over valued currency) let loose. The toughest ask of any government in history.

2) Gas prices were heavily subsidised which IK government had to raise prices multiple times, they managed to pass the WACOG bill aswell.

3) Electricity prices were never raised in plmn government on the other hand expensive IPP contracts were signed left and right.

4) Reserves were far less when IK government took over combine that with CAD accelerating at $2b per month as compared to $0.5b in Feb 2022 and $1b in March 2022.
GDP growth for the first 9 months of this FY is around 5%.
Not to mention Vaccine import and TERF rollout. ( which contributed most to CAD this FY).

5) Exports registered at $3b for the first time in March, Remittances highest by a huge margin, IT services export record. ( All these things helped in managing CAD which is less than in 2018 in the face of vicious broad based commodity inflationary cycle, vaccine imports and TERF rollout)

6) Regarding IMF if people forget easily PTI passed the toughest legislation along with the toughest economic decisions to get the IMF tranche in Feb this year.

7) Fuel subsidy in March was just Rs 32b, it was designed with a limit. ( The knowledge I have is from the profits of government owned enterprise which made record profits). This government is not even passing on the price hike from their tenure of one month while blaming it on pti and on ground more than doubling the subsidy.

8) Regarding LNG India just got cheap LNG cargoes from Russia, Pakistan was planning to import the same as soon as April by implementing both Crude swap agreement, Cheaper LNG and cheaper wheat. On the other hand this government bought the most expensive

These are some of the highlights, I will IA write a detailed thread on this when I find time. Because 90% of what you hear in the media is bullshit.
Click to expand...
Thanks for this informative post. Please write a detailed post and tag me in it. Thanks
 

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