Pakistan Rupee now at Rs 125.5 to a US dollar in Interbank Market

[SunilM]

And when did i say about exports in current form of CPEC?
I just talked about importsand current account deficit?
If we bifurcate trade account then we will come to Know that our machinery imports and other CPec related imports have been rising. This is the one of the main reason, at least in theory, behind such sudden devaluation...
Got my point...

Well look at the last four months. Its not about import of machinery, but about oil and other consumable items. You dont produce anything....cars, mobile phones, steel.....nothing....you import everything except textile and agricultural products. Got it!!

 

[El Sidd]

Well look at the last four months. Its not about import of machinery, but about oil and other consumable items. You dont produce anything....cars, mobile phones, steel.....nothing....you import everything except textile and agricultural products. Got it!!

hahaha how is the preaching going on Sunil?

 

[hassan zohaib]

Well look at the last four months. Its not about import of machinery, but about oil and other consumable items. You dont produce anything....cars, mobile phones, steel.....nothing....you import everything except textile and agricultural products. Got it!!

If we sift through in details then we realize that petroleum and other consumables items have been decreased as compared to the same period in previous years but machinery and raw material imports have increased(for your help just go to Pakistan statistics bureau website).
Yeah we don't produce much other than the intermediary goods but this income side also depends on foreign remittances in our case which have been stalled or decreasing and this is also another factor..

 

[ziaulislam]

growth also depends on political stability ,law and order,skilled labour ,availability of cheap electricity and fuel and infrastructure .currency devaluation is one factor and it is only effective if other factors are also positive and debts are within limits of gdp.here we should focus on other factors also .our currency is already very cheap as compred to china which is largest exporter which mean decrease in export is not due to rupee value but due to other factors also . maintaining rupee value to control debt by regulating rupee supply and printing will not involve use of foreign reserves and not decrease forex reserve so it is good option instead of using forex reserves to mantain rupee value which ishaq dar did to destroy economy

China does regular devaluation..it just did recently
You are right on other accounts...
Political stability is a perception...if parties are crying when ever they lose about political engineering than what's the point of democracy to begin with

Anyway army is doing crappy job of political engineering..

 

[hum watan]

We seriously need to boost our exports to reduce current account deficit. Export needs to be incentivised and given fiscal benefits. Besides government should make efforts to upgrade export units to be competitive globally. We should also promote Special Economic Zone and invite foreign investors for export oriented manufacturing units. Give better interest rates in Dollar Accounts to Non Residents. Similarly we must give thrust to reduce import by local manufacturing / production. While we must promote Electric vehicles to as substitute to petroleum, also produce pulses and spices locally instead of importing them. If one has will power and vision it can be tackled comfortably.

 

[hassan zohaib]

We seriously need to boost our exports to reduce current account deficit. Export needs to be incentivised and given fiscal benefits. Besides government should make efforts to upgrade export units to be competitive globally. We should also promote Special Economic Zone and invite foreign investors for export oriented manufacturing units. Give better interest rates in Dollar Accounts to Non Residents. Similarly we must give thrust to reduce import by local manufacturing / production. While we must promote Electric vehicles to as substitute to petroleum, also produce pulses and spices locally instead of importing them. If one has will power and vision it can be tackled comfortably.

These are the long term steps but in short term we need to borrow otherwise things would worsen and as far as imports are concerned,then these can't be reduced either because our structural weaknesses engulfing our economy..

 

[SunilM]

We seriously need to boost our exports to reduce current account deficit. Export needs to be incentivised and given fiscal benefits. Besides government should make efforts to upgrade export units to be competitive globally. We should also promote Special Economic Zone and invite foreign investors for export oriented manufacturing units. Give better interest rates in Dollar Accounts to Non Residents. Similarly we must give thrust to reduce import by local manufacturing / production. While we must promote Electric vehicles to as substitute to petroleum, also produce pulses and spices locally instead of importing them. If one has will power and vision it can be tackled comfortably.

Well said!!

 

[LASER1]

These are the long term steps but in short term we need to borrow otherwise things would worsen and as far as imports are concerned,then these can't be reduced either because our structural weaknesses engulfing our economy..

If there is a political will to make hard decisions, then only a strong economy can be developed. These are not long term steps, these are too short-term tasks.

 

[TheNoob]

Chalo.... Mere bank me se sab kam hogaya.
Jo 120 tha, abo wo 95 hogaya.

Have to think about future again....

 

[hassan zohaib]

If there is a political will to make hard decisions, then only a strong economy can be developed. These are not long term steps, these are too short-term tasks.

Yeah, political will is necessary but political will is not only the factor. We need to make an economic pact within country wiTh all stakeholders which includes not only politicians but army,most importantly, as well and peoples of business community..
You have seen that if only political govt takes steps what happens.,.
And BTW, no caretaker govt takes such sudden steps to devalue currency because of avoiding controversy but these caretakers did. Why?
I have reason to believe that it is political-motivated move...

 

[jupiter2007]

Rupee may devalue betwen 140 to 160 by the end of this years. It’s going to be big headache for the next Government.

 

[Sugarcane]

Let it devalue to actual parity before next government taking charge and pray that some idiot like Dar (in fact evil genius) don't get hold of ministry again and start manipulating rate to rob the fool public.

 

[ejaz007]

Pak Rs. 128.5 to 1 USD

 

[hum watan]

Yeah, political will is necessary but political will is not only the factor. We need to make an economic pact within country wiTh all stakeholders which includes not only politicians but army,most importantly, as well and peoples of business community..
You have seen that if only political govt takes steps what happens.,.
And BTW, no caretaker govt takes such sudden steps to devalue currency because of avoiding controversy but these caretakers did. Why?
I have reason to believe that it is political-motivated move...

We all know this is not an easy issue.

Our educated leave as soon as they can to the West and the elites who are left end up working at multi-nationals or banks.

Who is going to actually take a risk and start a business ? The poor child laborer who has no education and no money and no idea what the international market wants?

Our people need to grow up and start opportunities here instead of going abroad and working as warehouse workers in Houston or Manchester. They need to take their studies abroad seriously and network and find out how they can come back to Lahore or Karachi and start an export orientated business instead of making money off real estate or selling overpriced gaudy clothing to their fellow elites in Lahore.

 

[aman_rai]

Dear India don't worry this is only for 15 more days lol. Your dream bubble will burst.

I read your post on a few pages back....
You were defending this meltdown, then why do you want it to last for onlyb15 days more?? Let it Jeep going