KARACHI: Dec 26, 2022: Pakistan’s top currency dealer and Forex Exchange Companies’ Association chairman , Malik Bostan Khan, has said Afghan Transit Trade was a major cause of Pakistan’s economic melt down as the facility was being misused by Afghan and Pakistani traders to make money at the cost of economic survival of Pakistan . Malik Bostan Khan held a press conference here on Monday to unveil deep- rooted conspiracy hatched by the anti Pakistani forces to weaken Pakistan militarily and economically and then force it to give up its nuclear assets . He said
Afghan Transit Trade has been causing loss of $ 2 billion per month and $ 24 billion a year. According to Mr Khan, Pakistani and Afghan traders were involved in misuse of Afghan Transit Trade facility and it was causing Pakistan loss of $ 24 billion. He said wicked Pakistani and Afghan traders import costly items of billions of dollars worth and use Afghan Transit Trade facility and then the goods imported under Afghan Transit Trade is brought back into Pakistan through trucks and in this unlawful activity Pakistan is losing billions of dollars every month. He said items with higher duty like tyres and mobile , electronic were being imported under Afghan Transit Trade and then being brought back into Pakistan illegally. He presented statistics in support of his claims which suggest that in first quarter of the current fiscal year , no of containers that passed through Pakistan to Afghanistan under Afghan Transit Trade rose from three thousand to 15000. Mr Khan said he has presented these statistics to Finance minister , Ishaq Dar, and demanded a proper checking and tracing of goods being imported by Afghan traders and their Pakistani facilitators to end misuse of Afghan Transit Trade. He said in 2021 when Taliban took over in Kabul, Pakistan ‘s dollar-rupee party was 155 to a dollar and Pakistan’s reserves were $ 22 billion > After one year , now Pakistan’s foreign reserves have gone down to alarming level and dollar -rupee parity is 235 to a dollar . He said Afghanistan’s currency was four time better in value to the rupee as Afghan government disowned the policy of printing new currency . He added that Pakistan need quick decisions to stop its economic melt down . He also warned to dollar hoarders that they will repent soon when the dollar will go down massively in coming weeks. He rulee out a possibility of a default and said Pakistan will make all future payments of bonds and other obligation and there will be no risk of Pakistan’s default.
Malik Bostan Khan said
It is urgent that Pakistani nation should understand that a well organised campaign was underway against the armed forces of Pakistan since anti Pakistan elements fully understand that targeting the army through some political and non political forces within and outside Pakistan was the only option available to damage Pakistan and then force it to accept international agenda of giving up its nuclear assets besides rolling back its nuclear programme.
Mr Khan said “Pakistan can withstand all international conspiracies and pressures if its army was strong and keeping the same logic in mind the international establishment has launched a deep-rooted and organised campaign against Pakistan army and its time for Pakistani people to wake up and foil this international conspiracy”.
Mr Khan called upon the people of Pakistan to understand their enemy and disown those elements , political parties or group of the people who were running campaign against Pakistan’s army. He said those who are running malicious campaign against Pakistan army in recent times are basically on an agenda of weakening Pakistan. He added that those who are supporting those political parties or group who are targeting the army to weaken it and expose Pakistan’s security must think of what happend in Iraq , Syria and in Ukraine.
He said Ukraine had the world bigger nuclear assets which were taken away by US and Europe promising Ukraine of defending it from any aggression . He recalled that the promise with Ukraine for ensuring its soverignity remained just a lip service when it was attacked by Russia a year ago.
” I remind those who are supporting anyone may be political leader of Pakistan and someone other that its time to see the devastation of Ukraine whose army was weakened by the international establishment and then exposed its security and safety.
Malik Bostan Khan urged Imran Khan that he should make a move to create political consensus to create political stability in Pakistan. He said ” I appeal to politicians of Pakistan that they should give up their policy of infighting and sit together to steer Pakistan out of current political crisis”.
