According to the Pakistan’s government’s commitment with the International Monitory Funds, the Dollar gained its value up to 10 Rs within a day and hits the highest of all the time. It is now being traded at Rs.144, which is the highest in all its history. Some days past the dollar was being traded at Rs.134 only and now, it has come up to Rs.144 in only one-day trade.
Due to some flaws in the past government, Pakistan’s economy faced many hardships. The economy started to devalue a lot, and the debts on Pakistan started increasing. Low economy caused the trade to decrease, and all the foreign reserves decreased to a very low level. Pakistan’s rupee value is decreasing day by day. The need of the hour is to make strong policies or else the Rupee will keep losing its value.
Pakistan’s finance minister Asad Umar said that they increased the value of rupee by purchasing dollars.
To increase the exports, we have to provide subsidiaries, but due to our low economy, it is not possible for us to provide the subsidiaries.
With the increasing value of Dollars, the debts and loans on Pakistan keep increasing.
Therefore, in the market to regain the value of rupee there are only two options, one is to artificially increase the value of rupee by getting loans or by decreasing the value of rupees.
By keeping sight on the current condition of Pakistan’s economy, it is not possible for us to increase the loans by which our economy can get hurt a lot.
Therefore, there is only one option to decrease the value of rupee by which we will not get pressed under more loans and can get good results from this as per the policies set by the current government.
Source: Dawn News