US Dollar will Touch new Highs in coming Days - Khushnood Ali Khan
- Thread starter peoplesoft
- Start date
aliahmad297622
Chief Minister (5k+ posts)
N leage to gai
itsnotme90
Minister (2k+ posts)
what a retard :angry_smile: jis din 120 hoga us din meray liye dua ki ga aur mujhay credit di ga. He is trying to be another shahid masood. dollar will be expensive anyway in coming days coz fed is considering raising rates.
Will_Bite
Prime Minister (20k+ posts)
Fed raising rates has nothing to do with Pak rate. Pak Rupee is not a free float. Its state controlled.
2 years ago, when IMF approved this quickfire loan of 6+ billion dollars, they noted that the intrinsic value of dollar used to carry the loan to its full term of 3 years would be gradually increased. It was noted that the final intrinsic value they used (for the last tranche due in 2016 end) would be calculated at 127 rupees to a dollar.
2 years ago when Asad Umar cited this fraud in the national assembly, everyone made fun, and challenged him to show the 127 figure in the loan agreement (the figure was not in the agreement. It was in IMFs own fact sheet).
Now yesterday, in its presser, IMF rep clearly stated that Pakistan must raise taxes by 40 bn in the next quarter, and that Pak currency has the capacity to be devalued by 20%
Next year, when this loan will start to get repaid, reserves will disappear in a flash. Ishaq Dar is relying on another IMF loan to keep things going. Approval of that loan will be a tough task, as there isnt much more room for increase in taxes or tarriffs, nor is there a lot more patience in Pakistanis. PLus, with elections nearing, it will be an unpopular move.
Ishaq Dar has taken Pakistan to the edge of another possible downfall, much like in 1993 and 1998. History repeats itself with this family mafia.
