US dollar hits all-time high of Rs142 in interbank market

[Ryuzaki]

Nawaz Sharif controlled the PKR for several years and now suddenly PKR hits 147 vs USD in 100 days.
High time for Imran Khan to change policies

 

[BHarwana]

If you are export based country than it's good but if you are import based country than it's too bad, Sir.

You have to just need to go thru basis economy fundamental for country.

Yes and to become export based country you have to swallow the bitter pill. This will make imports expensive and make the companies shift production domestically and will also boost jobs. There is limit to taxes because of wto so if we are going to sign fta than devaluing is good for economy.

 

[darksider]

Sir whatever they are doing they are killing middle
Class wiping out lower middle class. Every Pakistani has lost 1/3rd of his her savings
in last 10 11 months how can one defende this

Esa na kaho some one wil make you patwari for criticising pti gov.
Just sey all is good all is good.
Ab tabdeeli k mazey lo kyu hum logo ney hi usey vote diya hey.

 

[Champion_Usmani]

https://twitter.com/x/status/1068386781136150528

 

[valkyr_96]

It's a myth sir prices of everything increases
accordingly from mobile phones to motorcycles
And from powdered milk to biscuits.

There is a reason for this.....poor people (middle class) can afford little or no luxury so if imports become higher these people forgo those desire, but the rich don't they lose their buying power and hence they extract that buying power from the poor. There is recent article reflect that there has been a decrease in wages in real terms. employees make money while upper management bathe in bonuses, which they supplement by seeking subsides. For Imran Khan to make it equitable he needs to address this issue. We need land reforms which are a direct way of empowering the poor. Make cooperative landownerships and educate the real farmer and not the landowner. This would improve the lives of poor drastically and would not require much subsides as the poor will not be seek an artificially hiked rate of return.

 

[BHarwana]

Pkr should be supported and depreciation is good for Pakistan's economy. This is the only way to boost economy and avoid IMF.

If govt is doing this devaluation it is 100% that we are not going to IMF. This is a good sign.

 

[Yaseen1]

economy of scale only benefit if we have high capacity for production which we lack due to poor infrastructure and less electricity production so high devaluation will not much benefit us you are right as a nation we need to change our lifestyle but govt finance ministry should also try to properly manage things for the time being and make good decision if they had decided to go to imf they would have approached them much earlier so we would not see such consequences they should avoid uturns when making economic decisions and decided properly whether to go to imf or not once and stick to it

they are cheaper but the revenue is price x quantity as the price goes down the quantity goes up this is a fundamental concept the rest depends on product differentiation and consequently elasticity. how can competitor earn more if you sell cheaper you increase your market share or you force the competitor to reduce prices. This is fundamental to how monopolies are made in a non-differentiate market. Before you type maybe it is better to think from where will the government get the money to prop up the rupee. you want the government to to take a loan and transfer it to you so you can do namaz and tesbeeh in comfort? and then rant about how soud is haram and the system is rigged. Forget foreign reserves, we have high public borrowings and nothing to show for it. We invested in nothing but greed so we ate our future and the future of coming generations for our comfort today. This is what we got from the previous governments read it and weep so maybe you'll have some shame and think about changing the present.

 

[Champion_Usmani]

https://twitter.com/x/status/1068304284452823040

 

[BHarwana]

No sir their prices also increase accordingly

That is a problem for business and let them deal with it. Some will find domestic solutions and provide cheap prices and this help economy. The other option is taking loans from IMF so it is better to increase the price our self and avoid IMF.

 

[@RV]

Yes and to become export based country you have to swallow the bitter pill. This will make imports expensive and make the companies shift production domestically and will also boost jobs. There is limit to taxes because of wto so if we are going to sign fta than devaluing is good for the economy.

That scenario works if domestic manufacturing and exports actually increase. It's a two-way beating for the common people if exports aren't increasing and at the same time currency value also depreciating.

And to increase the exports a lot of factors are involved, not just the currency valuation.

 

[valkyr_96]

Esa na kaho some one wil make you patwari for criticising pti gov.
Just sey all is good all is good.
Ab tabdeeli k mazey lo kyu hum logo ney hi usey vote diya hey.

if we do not depreciate how are we to pay back the previous government loans? We don't have the foreign reserves to match

 

[Ryuzaki]

In exactly one year dollar increased to 146 from 105.70 on 30th Nov 2017. 40% devaluation in one year and 30% only in last 6 months. Dont know what the hell happened, why the sky falling on poor Pakistan people.

https://twitter.com/x/status/1068380363658092544

 

[BHarwana]

Previously we were exporting things and neglecting domestic goods now we will switch from imported to domestic products. This will help us economically.

 

[Champion_Usmani]

Economic expert, Samiullah Tariq, speaking to ARY News, said the reserves of the State Bank of Pakistan had declined below critical level. He said the currency was facing a huge pressure at the moment.

He was of the view that surge in dollar will impact on prices of all basic commodities, thus ultimately burdening masses on financial front.

https://arynews.tv/en/dollar-rises-to-historic-high-of-rs-142-at-interbank-market/

https://twitter.com/x/status/1068366988572065797

 

[BHarwana]

That scenario works if domestic manufacturing and exports actually increase. It's a two-way beating for the common people if exports aren't increasing and at the same time currency value also depreciating.

And to increase the exports a lot of factors are involved, not just the currency valuation.

We have signed fta with China and many more countries and only way forward for us is devaluation in currency. Spend less start saving more and this will help economy buy Pakistani goods that is way forward for us.