ISLAMABAD: Pakistan seems going into a severe financial crisis in days to come as the government is totally indifferent to alarming devaluation of the rupee against dollar. On Friday, the rupee further plunged that resulted in surge of dollar to highest- ever level of 176 .
Free fall of rupee does not seem any worry to the economic team of Pakistan Tehreek e Insaf ( PTI) government. None of its economic wizards is uttering a single word on the rupee free fall. Every economic wizard of Imran khan’s team, who had come into power to form a new Pakistan , is so silent as if none was taking breath. Its unfortunate that there is no one in the power corridors to question to big economic wizard , Asad Umar, and baba e Finance , Shaukat Tarin, to ask them where were they taking to Pakistan by letting the rupee collapse completely.
One simple fall out of free fall of the rupee is addition of Rs 18000 billion to the foreign loans of the country. Another fall out of the rupee free fall is opening up of a floodgate of killing price-hike that had pushed 60 million people under the poverty line in Pakistan in the last three years.
The rupee is under pressure since 2018 when Imran Khan’s PTI came into power. It had added to poverty in a big way during the last three years. Today, every Pakistani is in trouble due to unprecedented price- hike. Uncertainity in currency rates have hit Pakistan’s economy very hard. The way PTI government is ignoring destruction of the economy is unbelievable. Dr Ashfaq Hasan Khan,
Pakistan’s top economist, calls dollar’s soaring as a total collapse of Pakistan’s economy.
“Its alarming rather destructive”, Dr Ashfaq Hasan Khan, said while commenting on continuous plunging of the rupee in PTI rule.
