Pakistan Exports increase to 25bn USD, while Remittance - 22bn USD

[Sugarcane]

what is the purpose of Foreign Exchange branch and they dont deal in Forex


I always go to NIT branch in Shaheen complex which deals in Forex, previously i have done it from Habib bank Forex branch in MA jinnah, I call a bank and ask where is your nearest forex branch

You can have forex account in bank, deposit and withdraw forex in that account, surrender your forex at inter-bank rate and get equivalent PKR. That's what forex branches do in Pakistan (at-least in my experience). If you want to buy forex, then you have to go to open market - bank will not sell you.

NIT is not a bank, normally staff of forex branches have contacts with open market - they will buy forex from you (sometime at lower then inter-bank rate) and sell to them and earn the difference.

 

[AZ1]

Op link not working

 

[xyxmt]

You can have forex account in bank, deposit and withdraw forex in that account, surrender your forex at inter-bank rate and get equivalent PKR. That's what forex branches do in Pakistan (at-least in my experience). If you want to buy forex, then you have to go to open market - bank will not sell you.

NIT is not a bank, normally staff of forex branches have contacts with open market - they will buy forex from you (sometime at lower then inter-bank rate) and sell to them and earn the difference.

dude I am selling it, you don't even know the whole story. that how this whole stupid discussion started that I SOLD 3000 USD in Pakistani bank!!
Everyone knows you cant just buy Forex from a branch unless you have a approval

 

[Sugarcane]

dude I am selling it, you don't even know the whole story. that how this whole stupid discussion started that I SOLD 3000 USD in Pakistani bank!!
Everyone knows you cant just buy Forex from a branch unless you have a approval

Read the last line instead of getting hyper, first, I explained you operation of forex branch in Pakistan. And I do SELL dollars every month and have USD account in Pakistan.

 

[My-Analogous]

View attachment 559139


View attachment 559140

Figure don't seems correct to us. We can judge by in term of dollar only because PKRS is now all time record low

 

[AZADPAKISTAN2009]

A positive news however more control is needed on Imports of goods

• Barter trade should be used to minimize oil import bills

 

[xyxmt]

Read the last line instead of getting hyper, first, I explained you operation of forex branch in Pakistan. And I do SELL dollars every month and have USD account in Pakistan.

I guess I am treated differently than you, it could just be the looks

 

[Imran Khan]

even 30bn$ are not enough man

 

[FOOLS_NIGHTMARE]

 

[fisher1]

Munnay jo mil raha hai ganeemat jano nahi tou zardari ya nawaz ko wapus lao aur apni anay wali generation ko sufffer karao.

Tum logo ki dunya nawaz, Zardari or khan par shuru or khatam hoti hai.

Kuway kay mandaiqo, dunya agay or bi hai in jhooto k ilawa

 

[Aryeih Leib]

Sir I not being rude but 20 bn is a huge amount and still put is stuck in 90's

a deficit of 8b$ is pretty normal for pakistan like economies but the damage has been done, investors are out and lending will be expensive, thus a "doctor checkup"/IMF is needed before business as usual starts

what IMF would want will be
1. fiscal discipline(increase tax revnues)
2. decrease spending(cut all subsidizies for rich and middle class)

what pakistani society is has complete lack of common sense, they think making domestic gas expensive is hitting the poor when 70% people dont even have gas..seems people of pakistan dont even grasp what the poor (dying of hunger/living in slums) are like or even exist

i think govt should do three things

1. end all subsidizes to general public
2. make OGRA & NEPRA independent
3. privitize or imporve all state enterprises

e.g PTV has budget of 20b rs greater than all other channels of pakistan!

 

[khawar khurshid]

2018-2019
Pakistan Exports - 25Bn USD
Remittance- 22bn USD
Foreign exchange - 47bn USD

Imports - 50-55bn

55bn USD-47bn USD = 8bn USD deficit only !

source: revenue minister !

https://timesofislamabad.com/09-May...paAovmKvH3Q1_CGSHmfgp32dO86ZuRvRp2SHR660hls7o

You haven't mentioned payment of debt and interest, which is about 7 to 8 bn USD

 

[jericho]

Figure don't seems correct to us. We can judge by in term of dollar only because PKRS is now all time record low

Thanks for pointing it out, I didn't consider it, not sure why the site is giving data for Pak in PKR instead of USD, for other countries the data is in USD

 

[Yaseen1]

i think this estimate is overstated as large amount of wheat crop is destroyed this season due to climate change and exports of agriculture products may suffer if flood occurs this year as we are facing climate change and extreme weather

 

[ziaulislam]

Sir I not being rude but 20 bn is a huge amount and still put is stuck in 90's

There are 500 jenitors for a small office and MD pay is more than doctors of whole district