Dollar price is flaring up, 1USD is at PKR 159
Despite calming big vows government is failing to prove it’s-self or the previous government left the reverse in the condition that the new government has no way left rather than knocking on the IMF door to give its economy a stay.
State bank gave a point of view that dollar price rising constantly due to demand and supply issue whereas Central bank has not given any explanation.
Following table show’s dollar prices in last five years:
Although dollar price revolve around 100 PKR during these years but this risen price had broken the dreams of many.
According to analyst and government spokesman the previous government’s finance minister Ishaq Dar had Reinforced such policies which show false dollar
Reserve or fake instability in reality this issue exists and because of ignoring the matter it reaches to its worst.
Asad Umar, the former foreign minister has said that he has reservations on the timing of State Bank’s recent monetary policy and told governor Tariq Bajwa, that government will support the independent stance of state bank but it should take government on board with the issues of exchange rate in the current scenario where we are already facing devaluation of PKR.
Agreements have been signed by the government with many countries up till now they are giving us the picture that Soon all the problems will be solved but the question is till then what a lay man should do? The prices of main and Essential groceries items and goods are rising every single day. People who are earning hard will face the consciences of this inflation the worth of money they are earning would devalue, poor will become poorer.
This time there is a big gap between employee and employer because of the inflation’s many companies are not giving Dues to their employees they said that because of devaluing of Rupee they are not earning up to the mark and giving Salaries on time is beyond their range now, everything is flaring up we see protests and strikes become often.
Based on analysis a long-term increase is predictable in coming days. Some policies should be made on emergency basis which will control this uprising of dollar otherwise the situation would not be controlled by anyone.
By; Sama Hayat