PM Imran Says He Was Not Aware Of Rupee Devaluation

[Champion_Usmani]

Says he found out about the development through media

Lahore (UrduPoint / Pakistan Point News – 3rd December, 2018) Prime Minister Imran Khan has expressed his incognisance over the historic devaluation of Pakistani rupee against the US dollar.

The prime minister held a meeting with senior journalists and anchorpersons on Monday.

The prime minister talked at length over various issues facing the country, including political, economic and foreign policy challenges.

During the meeting, the prime minister told anchors that he and Finance Minister Asad Umar did not know that the State Bank was devaluing the rupee.

“This happened earlier too. When the price of dollar touched a record-high against the rupee, I was not informed beforehand. The central bank had devalued the Currency and it’s an institution which overlooks these matters,” the premiere added.



He said that he found out about the development only through media, adding that the government is now considering a mechanism to ensure this does not happen in the future.

Dollar reached a record high of Rs 142 in the inter-bank market with an increase of Rs 8 on Friday.

As the dollar reached a record high on Friday, other currencies had also sky rocketed against the Pakistani rupee.

The inflation was doubled by the end of November while dollar was appreciated by Rs 5.06 in a single week.

The devaluation has already caused an increase in inflation and interest rate, effecting investment in the country.

With a record high increase in the value of dollar, the country’s debts have also soared to Rs 760 billion.

https://www.urdupoint.com/en/pakistan/pm-imran-says-he-was-not-aware-of-rupee-deval-495701.html

@Maarkhoor @Tameem @Jinn Baba @BATMAN @Canuck786 @CIS-TRANS @Proudpakistaniguy @volatile @SmartGeek @Major Sam @Umair Nawaz

Guys... Kindly someone tell me plz. Is the country being run on autopilot, i mean who is incharge?? Who is governing the country??

 

[Path-Finder]

than god this mofo is banned.

 

[Abdussamad]

Central bank is supposed to be independent. Government may now put a stop to that because they've been publicly embarrassed. This will worsen the situation.

 

[Jinn Baba]

State bank would have based it's decision on information and indicators that would also have been available to the government. So how did the government not see this coming? And is there no communication between the PM/finance minister and the State Bank of Pakistan???

 

[valkyr_96]

View attachment 524245

Says he found out about the development through media

Lahore (UrduPoint / Pakistan Point News – 3rd December, 2018) Prime Minister Imran Khan has expressed his incognisance over the historic devaluation of Pakistani rupee against the US dollar.

The prime minister held a meeting with senior journalists and anchorpersons on Monday.

The prime minister talked at length over various issues facing the country, including political, economic and foreign policy challenges.

During the meeting, the prime minister told anchors that he and Finance Minister Asad Umar did not know that the State Bank was devaluing the rupee.

“This happened earlier too. When the price of dollar touched a record-high against the rupee, I was not informed beforehand. The central bank had devalued the Currency and it’s an institution which overlooks these matters,” the premiere added.



He said that he found out about the development only through media, adding that the government is now considering a mechanism to ensure this does not happen in the future.

Dollar reached a record high of Rs 142 in the inter-bank market with an increase of Rs 8 on Friday.

As the dollar reached a record high on Friday, other currencies had also sky rocketed against the Pakistani rupee.

The inflation was doubled by the end of November while dollar was appreciated by Rs 5.06 in a single week.

The devaluation has already caused an increase in inflation and interest rate, effecting investment in the country.

With a record high increase in the value of dollar, the country’s debts have also soared to Rs 760 billion.

https://www.urdupoint.com/en/pakistan/pm-imran-says-he-was-not-aware-of-rupee-deval-495701.html

@Maarkhoor @Tameem @Jinn Baba @BATMAN @Canuck786 @CIS-TRANS @Proudpakistaniguy @volatile @SmartGeek @Major Sam @Umair Nawaz

Guys... Kindly someone tell me plz. Is the country being run on autopilot, i mean who is incharge?? Who is governing the country??

The SBP is incharge of the monetary policy and its mechanism, including the management of the exchange rate which is currently on free float and they have devalued the currency. If there is a lapse on the information the fault lies with Tariq Bajwa, he should have informed Asad Umar. Tariq Bajwa is Nawaz Sharif's tool and he should have been removed. Tariq Bajwa is a corporate banker and not a central banker. This type of shit will be the fall of Imran Khan. He needs to have competent people and constant communications.

 

[Finer]

@Champion_Usmani is banned because he created the thread based on the truth? Is this forum going to be Imranistard-istan like Trumpistard-istan?

 

[Abdussamad]

Even bloomberg is now reporting that IK was caught unawares:

Prime Minister Imran Khan, who said he found out about the devaluation from the media, asked people not to panic after the rupee’s plunge on Friday.

There's talk of a currency band. Even brecorder has advocated the same thing.

 

[Skull and Bones]

Because he runs on ‘dallar’.

 

[Sugarcane]

Because he runs on ‘dallar’.

Urdu word for dollar is dallar, just like for China it's Cheen and for Indian it's Bharati

 

[BATMAN]

@Champion_Usmani is banned because he created the thread based on the truth? Is this forum going to be Imranistard-istan like Trumpistard-istan?

He is not only banned but also personally abused. It's called state sponsored harassment.

 

[Jinn Baba]

@Champion_Usmani is banned because he created the thread based on the truth? Is this forum going to be Imranistard-istan like Trumpistard-istan?

He is not only banned but also personally abused. It's called state sponsored harassment.

WTF! Why has he been banned? I've never seen him give out abuse but he constantly has put up with it. Anyone know the exact reason?

 

[BATMAN]

WTF! Why has he been banned? I've never seen him give out abuse but he constantly has put up with it. Anyone know the exact reason?

That's my observation also. Despite being abused on daily basis, he never replied to the lowly creatures.
His crime clearly is that he raise voice against the idiocracy, which is going around in Pakistan.

Imran Khan indeed said there may be early elections.... he said to Hamid Mir, It's a correct news he posted.

State bank would have based it's decision on information and indicators that would also have been available to the government. So how did the government not see this coming? And is there no communication between the PM/finance minister and the State Bank of Pakistan???

Govt. probably discussed for a week, meanwhile some clever bureaucrat gave a way out, by way of shifting the blame. Obviously IK liked the idea and collected bunch of no body and told them it's state bank's doing.
Why was head of state bank quite for all those days, when Imran Khan was being loathed (in words) by public.

Imran Khan is the first leader of the world, who is trying to save his a$$ by blaming his subordinates.

Next excuse of IK will be ministers didn't performed well so i change them, eventually we'll be bankrupt and than IK will join All Parties Democratic Alliance and instead of blaming Nawaz Sharif will be blaming Zia ul Haq & Pervez Musharraf, for the bankruptcy which is clearly of his own doing.

Instead of telling us, how 16$ billion came down to 6$ billion within days, he's always talking nonsense.

Common nonsense of politicians will remain that $ was artificially kept strong by his predecessor! WTF. They think every one is Usman Buzdar!?

 

[Jinn Baba]

That's my observation also. Despite being abused on daily basis, he never replied to the lowly creatures.
His crime clearly is that he raise voice against the idiocracy, which is going around in Pakistan.

Imran Khan indeed said there may be early elections.... he said to Hamid Mir, It's a correct news he posted.



Govt. probably discussed for a week, and some clever bureaucrat gave a way out by shifting the blame. Obviously IK liked the idea and collected bunch of no body and told them it's state bank's doing.
Why was head of state bank quite for all those days, when Imran Khan was being loathed (in words) by public.

Imran Khan is the first leader of the world, who is trying to save his a$$ by blaming his subordinates.

Next excuse of IK will be ministers didn't performed well so i change them, eventually we'll be bankrupt and than IK will join All Parties Democratic Alliance and instead of blaming Nawaz Sharif will be blaming Zia ul Haq & Pervez Musharraf, for the bankruptcy which is clearly of his own doing.

Instead of telling us, how 16$ billion came down to 6$ billion within days, he's always talking nonsense.

Common nonsense of politicians will remain that $ was artificially kept strong by his successor! WTF. They think every one is Usman Buzdar!?

Blaming PML-N only worked for so long, so now another blame game starts

 

[ziaulislam]

If he knew than he should be jailed...only state bank is allowed this info not the PM or ishaq dar.

Blaming PML-N only worked for so long, so now another blame game starts

Rupee will fall till CAD is bridged though it will fall slowly
Rate of fall has slow down over last 4 months so has CAD which half at 12b/yr still un sustainable but will take 3-4 yr to bridge fully

That's my observation also. Despite being abused on daily basis, he never replied to the lowly creatures.
His crime clearly is that he raise voice against the idiocracy, which is going around in Pakistan.

Imran Khan indeed said there may be early elections.... he said to Hamid Mir, It's a correct news he posted.



Govt. probably discussed for a week, and some clever bureaucrat gave a way out by shifting the blame. Obviously IK liked the idea and collected bunch of no body and told them it's state bank's doing.
Why was head of state bank quite for all those days, when Imran Khan was being loathed (in words) by public.

Imran Khan is the first leader of the world, who is trying to save his a$$ by blaming his subordinates.

Next excuse of IK will be ministers didn't performed well so i change them, eventually we'll be bankrupt and than IK will join All Parties Democratic Alliance and instead of blaming Nawaz Sharif will be blaming Zia ul Haq & Pervez Musharraf, for the bankruptcy which is clearly of his own doing.

Instead of telling us, how 16$ billion came down to 6$ billion within days, he's always talking nonsense.

Common nonsense of politicians will remain that $ was artificially kept strong by his successor! WTF. They think every one is Usman Buzdar!?

What cane from 16b to 6 b???
As far as i know the reserves stand at 8.3b , they started at ~8b when IK signed..the peak was 14 b 2yrs ago?

 

[xyxmt]

than god this mofo is banned.

how his ban helps you, I am sure you did not hear that part in his interview with a group of anchors, I just watched it on youtube, so yes that is what Imran said.