No FM says otherwise.It's market-dependent now. If coal and oil prices rise internationally and your internal cement and oil demands remain the same what do you think dollar ruppee price should do? Should it go up, down or remain the same? When cement demand is high, and international coal prices are high, of course, it is going to affect your import bill, which in turn will affect the dollar rate, which in turn will make cement expensive. And some sectors do get benefit out of dollar rate e.g; textile. And it's not like coal/oil/scrap or whatever we import those prices would always remain high, they will eventually come down. Steel is expensive because China curbed their scrap/iron ore export. Some sectors which are import-dependent definitely are under pressure, but those are only because of high local demand and high international prices. One has to look holistically for what is really going on. Sticking to just one or two parameters like dollar rate, inflation rate doesn't show a clear picture.
Show me a high market cap company from PSX that is showing losses(except Hascol, that's a mega scandal except that). DGKC, LUCK, OGDC, PPL, PSMC, INDUS etc all showing earnings be it quarter-wise or year-wise.
Right now we have entered to predictable market not free market that FM said now.
Talks with IMF for sixth tranche to start by month-end
Tarin terms dollar’s surge against rupee ‘speculative’.
www.dawn.com
Reza Baqir competence and PHD education has created a artificial demand.