Will Rupee Devalue Further? Economic roller coaster

[HellsGuardian]

Because it gives a clarity as to how much they have after the current regime change fiasco and the amount people of Pakistan have withdrawn. Also I think the hike could be because it's Eid.

Chinese agreement on what rates has to be the real question. Again we were fed with Saudia has agreed to give us bla bla bla loan which was again a misinformation from the government so yes, let's keep our eyes open because we have been through these routes before and was about to default back in 2018.

SBP clearly said Total Deposits. What more clarity does anybody wants? SBP always uses technical terms so there is no ambiguity. When it posts figures for FC reserves, it clearly says: FC Reserves stand/stood at $xb. This is how SBP has always been reporting figure even before regime change fiasco. If someone is not able to understand the difference between Total Deposits and Stood At then its not SBP's fault.

My point being once again, lets try not to spread negativity and use national instruments for political gains.

Regarding terms, at the moment I don't know but I am sure terms would be tough, IMF makes sure of that... How else you gonna pay them back?
Looking at history (before regime change fiasco), PTI ministers were jumping with happiness when the same Saudia deposited $3b with following terms:
4% interest rate for 1 year, At that time even US deposits were giving 0.25% rate.
Money cannot be used by us.
Money could be withdrawn at 72 hours notice.

Shaukat tarin hid all these figures while giving good news to the nation. Its like buying a luxury car at high interest rate which stays at dealership

[pwuser150469741418]

InshAllah sir.

[pwuser150469741418]

Buddy you are missing my point. The uncertainty or panic is because these very people have asked us to be optimistic and said all is well and then left us on the brink of default so anything coming from them has to be taken after assessing the situation. I don't want to turn this thread into a PTI vs PDM argument hence let's pray for the best.

[HellsGuardian]

Agreed. Let the numbers do the talking.

[Moderator]

Bloomberg reported closure of at least 2 automotive plants in Pakistan for the next quarter FY 2022-2023 while 2 japanese & 1 Chinese name are working with GOP to obtain 50% CBU units import permission in order to meet demand.

cost factor of local parts and the supply chain delays is seriously denting their business with local vendors in Pakistan.

[Nabs]

Stock market crashed.
https://www.dawn.com/news/1696469/psx-crashes-after-pm-shehbaz-announces-super-tax-on-industries

[mgalaxy3]

yet most good scripts are still at super high prices

ugh

[muhammadadeel96]

This is just plain BS. They have also taken back the tax rebate which one can get by investing mutual funds. Absolute bullocks !! I am in education field and we used to get tax rebate of 40% during NS era, IK reduced it to 25% now I have no idea what they have done this time... Srilanka 2.0 beckons and I hope it happens

[StoneCold316]

al Asif jewellers.. Anar kali .. Karachi.....i can send you the detail if u want..thx

[StoneCold316]

the most stupid.. govt with most pathetic Economic policies.. i am seriously thinking about going abroad. Now.. no matter what..

[Moderator]

i am seriously thinking about going abroad. Now.. no matter what..

too late sir, the crisis are global. Inflation is on rise across the human civilization.
Governance and management of respective governments is holding it at tight leash.

Problem in Pakistan is lack of common sense at street level. Every one is stuck with devices and fake news sharing is the new national hobby.

Songs, motivational speeches, living is PAST is the poison feed by the so called 'establishment'. Those who preach to common, upon cost cutting measures are living like king.

social activism is need of time to stand up and raise voice against the 'family rule' Bhutto has to be burried, shareefs' shall be behind bars, Pakistan shall be leased to 3rd party Judiciary with an accountability system. Working 24/7 handling from a common street begger (the multan guy with millions in bank) to the Generals' Judges' Bureaucrates having assets beyond declared source of income shall be punished and assets auctioned for deposit in public treasury.

system need major neurological vascular and cardiac surgery before a jump start.

[Moderator]

I can safely tell you that $92 is my new price for a tank full.
Weekly grocery bill also jumped 1.5 times.

[sardarg]

sir we have started car pooling. i believe very soon many white collar corporate staff will switch to public buses from bikes as well due to fuel quota significantly reduced. In some companies a lump sum amount against fuel is disbursed weekly.

for a family of 6 like mine 4 adults and 2 minors with zero change to our consumption, expense have gone up 130% specially dairy items and 150% against weekly medication for senior parents.

Parents are supplementing and helping me from their property rental for school fees, which too has gone up by 100% before summer vacations, so in total net affect is 200% + of expenses.

[abacus]

The inflation and food security is now a global issue, I am facing it first hand, However, Pakistan's case is very special. The elite don't care a bit, They won't scarifies their one sip of tea, Every group in elite, only care about their chunk

1- The top layer is Khakis, they want every penny whether its their official budget, supplementary grants (Yes, they always get huge chunk after budget in name of supplementary grants and development grants), Construction business (they win every govt tender at their own terms and price), After retirement they want a multi-million package from already dead civil institutes. They take huge share of every loan/grant received.... They decide who will be next puppet who help them best to full their never ending desires for money and full control & THEY CONTROL EVERYTHING.

2- Politicians - They just want to grab last bits of this country like a greedy dog. Look at chota ganja Showbaz, He declared four of his houses as PM camp offices, so even salt for kitchen will be purchased from our taxes. EVERYONE of them want to get his HADDI...

3- Judiciary and Bureaucracy - The silent killers - They abuse national resources at their maximum, Look at their staff and luxuries, they won't even surrender 5 rupess for dying public. 90% of them have their families settled abroad. They work as slave to Khakis, power politicians and businessmen. Earn billons and like rest of elite fly to their HOMELAND after retirement.

Rest left are common public, they are simply interested in watching Haqeeqat TV, Chanting slogans "Mera khota zindabaad tuhada khota muradabaad". Among this crowed, those who have talent or resources, move out, rest will keep waiting for Gazwa Hind and condemn YAHOODI sazish which is being planned since 75 years to bring GREAT PAKISTANI Nation to its knees.

[Xulfiqar]

i believe very soon many white collar corporate staff will switch to public buses from bikes as well due to fuel quota significantly reduced

who the hell thinks that buses are a downgrade from a motorcycle?

[hyder_m29]

Buses require a secondary mode of transport at each end - source and destination. Bikes can take you directly from source to destination. It's too hot to be walking these days.

[pwuser150469741418]

[StoneCold316]

u live in USA? my brother live in Atlanta.. yea.. compare to pakistan still situation is not worst

[StoneCold316]

no bro.. its not that case.

1 to 3 points agreed! but common people

yahooodi Sazish ...its dame.true.. they are doing it.. wt u think what is banking system ? Who invented paper money ? what do you think who invented banks ?? they are controlling econmy since begingn

they are doing it.. its dame..true ! yea i agree its our fault too! but not that we all sleeping doing nothing.. probably u r doing nothing ..

[pwuser150469741418]

Sood itself is the biggest saazish and yes majority people are absolutely fine to finance their homes, cars on lease and then we have the audacity to call out the west. Two of my relatives got their house financed and 3rd has their loan approved for Mera Ghar Pakistan scheme.