Meezan Bank Announces to only do International Dollar Transactions on Open Market Rates @ Rs. 252

[AZ1]

https://twitter.com/x/status/1608780488491270145

 

[Asimzranger]

can someone help out here?
I am a quasi-freelancer. As in I do freelancing on a online platform where the freelancer account belongs to someone else i.e. my employer.
He takes a share out of all projects. Funds in USD are drawn into his payoneer account. He transfers the funds into his meezan bank account where he recieves PKR.

Would this affect the amount of PKR he gets per USD from payoneer?

@Enigma SIG
@Imran Khan
@RescueRanger

i got rate of 226 today while withdrawing from payoneer

 

[villageidiot]

we are losing $1 billion every month in remittance because of low rate of incoming dollar. People are not sending money using bank channel.

https://twitter.com/x/status/1608856812694179840

And this move is hurting exporters as well. Exporters paying higer to import raw material and getting less in return.

Tbf, why should the average person take the loss and sell at less than the market rate? Just because dar isn't content with his little experiment yet?

IT freelancer or Remittance will get $1=Rs.226

This is for dollar going outside rate like you buy something on amazon or import material something and make payment using meezan bank then they will charge $1=RS.252

THANK YOU. This is what exactly I wanted to know.
I also suspected the same. We'll still be getting the shaft. Behti ganga me ghareeb ke haath kabhi nhi dhulte.

 

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[villageidiot]

i got rate of 226 today while withdrawing from payoneer

We freelancers are bringing in dollars in these testing times and getting low returns.
The unsung heroes (not by choice )

May I ask what you do as a freelancer?
I am a web developer.

 

[Asimzranger]

We freelancers are bringing in dollars in these testing times and getting low returns.
The unsung heroes (not by choice )

May I ask what you do as a freelancer?
I am a web developer.

i am graphic designer, vfx, 2d, 3d character model and hand drawn animations artist

 

[Ssan]

i am graphic designer, vfx, 2d, 3d character model and hand drawn animations artist

@villageidiot - how good are you guys?

What if you joined together and opened a consulting / freelance company yourselves?

 

[villageidiot]

i am graphic designer, vfx, 2d, 3d character model and hand drawn animations artist

Graphics is anathema to me. I am as creative as a brick. Do have a knack for problem solving, tho.

On that topic, I love your memes. Never fail to get a laugh out of me. Keep it up.

 

[villageidiot]

@villageidiot - how good are you guys?

What if you joined together and opened a consulting / freelance company yourselves?

I am CS grad, I am 1.5 years into developing shopify stores. Pretty standard stuff. Not the really kickass kind of development. PHP for 2 years before that.
Been trying to move out of shopify and freelancing and get some experience in proper fullstack development in an established company for some time, but can't ever spare time to learn (I don't want to enter the job market without any marketable skills )

Now with this Damocles sword of the rupee crashing, I have decided to stick with freelancing for a while, cuz at least you get paid in USD.

 

[Asimzranger]

Graphics is anathema to me. I am as creative as a brick. Do have a knack for problem solving, tho.

On that topic, I love your memes. Never fail to get a laugh out of me. Keep it up.

thx i was never the coding type some of codding goes over my head in my uni days, so i chose to pursue as graphic designers.

@villageidiot - how good are you guys?

What if you joined together and opened a consulting / freelance company yourselves?

i would say, i am always learning and trying to improve but have good command in my field.

 

[HRK]

that I know. I just wanted to confirm if the guy who pays me will be getting the open market rate for his USD? Is that the case?
He's the one with the payoneer account and the draws into into his PKR account and then gives me my share.

For inward remittances I mean remittances getting credit in your account will get the interbank rate of that particular day.

Banks are facing serious shortage of forex as many people are withdrawing foreign currency in cash from their accounts, outward remittances from banks are getting difficult day by day, specially for payment of imports as SBP is not allowing free operations of banks related to imports, sometimes even when dollars are available, this thing is creating panic in the market

 

[HAIDER]

For inward remittances I mean remittances getting credit in your account will get the interbank rate of that particular day.

Banks are facing serious shortage of forex as many people are withdrawing foreign currency in cash from their accounts, outward remittances from banks are getting difficult day by day, specially for payment of imports as SBP is not allowing free operations of banks related to imports, sometimes even when dollars are available, this thing is creating panic in the market

Your Karachi Memon party predicted dollar price 330....today grey market is almost 270 and not available.

 

[Genghis khan1]

I was waiting for RS to crash so that I can buy discounted property in Pakistan but they way things are going it seems like whole country is gonna crash. Now I am looking across the pond in Dubai.

 

[HRK]

Your Karachi Memon party predicted dollar price 330....today grey market is almost 270 and not available.

Don't know about which memon party you are referring here but on ground situation is that business need 3-5 billion $ to pay for their import LCs which they can't due to shortage of $ in banking sector, so all are rushing to open market and Hundi-Hawala market plus Inward foreign remittance from banking channels are dropping while smuggling of $ to IRAN & AFGHANISTAN is still open and could not be stoped through conventional methods.

So we are in a situation where we not only have search $ for our own needs but also struggle against Afghan & Iranian mafia gangs for the purchase of $ within our own country, so in short either we have to abandon $ for any of our future International trade contracts or have to declare Bankruptcy within 2 months.

 

[villageidiot]

Don't know about which memon party you are referring here but on ground situation is that business need 3-5 billion $ to pay for their import LCs which they can't due to shortage of $ in banking sector, so all are rushing to open market and Hundi-Hawala market plus Inward foreign remittance from banking channels are dropping while smuggling of $ to IRAN & AFGHANISTAN is still open and could not be stoped through conventional methods.

So we are in a situation where we not only have search $ for our own needs but also struggle against Afghan & Iranian mafia gangs for the purchase of $ within our own country, so in short either we have to abandon $ for any of our future International trade contracts or have to declare Bankruptcy within 2 months.

And then some people here have the nerve to say we drag the infallibles into every conversation.