Will Rupee Devalue Further? Economic roller coaster

[crema]

Nothing as such, Iran has same location and more near to central asian states and Muddle East and have access to same warm waters of arabian sea.

The trade route is not active, it is not even serving Pakistan. What it will do for US.

For past 70+ years no benift is taken and none will be bonified in the next 70. The best US interest is to sell weapons to PK which internally they face retaliation as they feel it ends up with terrorists.

[helper_learner]

The best US interest is to sell weapons to PK which internally they face retaliation as they feel it ends up with terrorists.

And secondly, they just observe pak so closely because the Pakistan is nuclear state, if somehow Pakistan fall into wrong hands whole world would be at risk...

[helper_learner]

Why not we explore it now to get rid of our financial problems?

Even if somehow by dua's we find an oil reserve then still we can't get benefit from it as Pakistan is very far behind in technology... there will be more investment then profit...

Currently Pakistan dont need any oil reserves, it need a sincere government who thinks about Pakistan rather then there profit...

[Xulfiqar]

I can imagine extreme level jugaarbaazi because “chalta hai” mindset. If by any stretch we somehow have a completely locally manpower oil field.

[Moderator]

deep sea oil reserves inside Pakistan marine boundaries was nothing but nonsense
@nfssaad has correctly mentioned earlier.

avoid comical / satirical posts in this thread.

[Moderator]

[capsat]

there was real hype created about that 'DEAD END' "KAY'KRA-1" so much so that for a brief period Maritime security agency was deputed to secure 2 mile radius over 24/7 cycle. It was a laughing stock situation.

[Nabs]

I would be surprised if we find any major oil field in Pakistan. Look at this map. Most of the oil fields are located in the south west of Iran. There is nothing bordering Pakistan, not even gas. There is common myth (that I have personally heard by people) that there is so much oil in Balochistan that Iran drills towards Pakistan and extract oil, which is totally wrong.

Also, Nigeria is 14th largest producer of oil and is member of OPEC. Still its population is very poor and country is always in economic trouble. Dollar rate against its currency "Naira" jumped from 195 in 2015 to 415 (now), more than doubled, which is worse devaluation than Pakistan.

Pakistan is overpopulated country, just like Nigeria. So oil will not fix our issues. We need technological revolution, which won't happen due to poor governance and brain drain. All my relatives and friends who were in IT and engineering (10+ people) have left the country.

In my opinion, there is no hope for Pakistan! Even our gas reserves are depleting fast, when that goes, the whole textile industry and fertilizer industry goes.

[khurem]

yeah, add to that the case of Venezuela that has the biggest oil reserves on earth, yet it is one of the most poor nations right now with miserable economic conditions being faced by their public. This country's plight is a lesson for all that how a bad & grossly inefficient governance & economic system leads to extreme poverty and misery despite having abundance of valuable natural resources.

[Moderator]

RCD accord signed by the late Z.A.Bhutto with IRAN was the 1st conspiracy against the OGDC Pakistan.

The HQ was in IRAN, under RCD accord Pakistan OGDC (OIL & GAS Development Corporation) was not allowed to probe areas 250kms inside Pakistan border belt running parallel to Iran & Pakistan.

Geographical plate of the region has natural inclination towards Pakistan, natural flow of gas & oil will flow towards inclination thereby rendering Iranian oil & gas fields empty in short span.

any respected member with interest in historic exploitation of Pakistan natural resources can dig more and share what has happened in Baluchistan since RCD accord. Though it was abolished after Raza Shah was thrown away by Imam Khomeni, & Z A Bhutto was hanged, but the Pakistan is still managed by criminals crooks and corrupt as it was when Z. A. Bhutto came to power.

[sardarg]

i received the link via email.

very candid article about economy of Pakistan & Sri Lanka

[Obxe]

Isnt this the place where people were speculating Dollar to Hit 200 while IK remains in power.
Omg.
I have waited for so long to sell out my dollars at 200
Thank you current whatever "Kichri" adninistration we have.
I would finally be able to sell dollar at 200.
Ps..Absorb the satire.

[capsat]

@Obxe honestly situation is scary,
its kind of simmering red hot, in past 10 days PSX crashed twice.

$1=192.80

wait for next price rise of high 5 digits, for vehicles by 20.05.2022

we are treading parallel to Sri Lanka situation, the time line is over the outer circle of runway which will strike centrifugal center shortly.

IK or NS or AZ, it is matter of economy which they are least bothered for., The 1 point agenda started in Nov 2021 is achieved, while the next target was not set and still unknown.

But for Sure Economy revival is nobody's agenda.

[Panther]

Don't you think it's odd that Pakistans economy is sinking and you are so excited for selling dollar for personal gains.

[muhammadadeel96]

1usdt was available for 215 today around 3pm and 226 at 3:30 pm

[sardarg]

2 articles from Pakistani newspapers about the financial crisis looming over country.

both the writers have decent following

https://www.express.pk/story/2321890/268/ - by wusat ullah khan

[abacus]

USD cross 196 interbank, 200+ in open market and dealers are not selling, the political turmoil had literally shattered the economy to debris. Nanay Mian thought PM-ship is all about foreign tours and Sherwani. The journey of destruction Niazi & Co started in fast pace is now simply at full throttle.

[awais924]

[Obxe]

Dear brother I am the saddest that I ever could have been.
I used to read all the arguements/discussions from all the way back in 2018-19 in this thread claiming how dollar would soon hit 200...well we can all see how and when jt reached the double century.
Please do note that at the end of the post I claimed that it was to be absorbed as satire..
I just want to make a point

[sardarg]

economic situation is crippling. so called neutrals are exposed as never before since 70+ years.

election or no election economic collapse is eminent. To slow it down the best approach shall be immediate ban on imports. Only Industry essential products shall be allowed that too to keep industries rolling and people occupied employed. Health care items shall be carefully vetted for import, in order to support local industry.

100% ban shall be slapped over every item from vehicles to cosmetics, palm oil, sanitary pads condoms & as low as cat food. Pakistan has huge industry which is producing every human essential item, we have local sesame & olive oil in abundance, local cosmetics & cat food is also available.

People shall start sharing rides to control fuel consumption.

Without taking common men into confidence Govt can not control the 'collapse, Only if ....