Pakistani Rupee hits record low against US dollar once again

Published on Author K. ShahzadLeave a comment

From few days daily Rupee is in pressure again US dollar and other stable currencies of the world. Rupee today again traded at record all time low of  90.48 against US dollar. This is the true depiction of weakening economy of Pakistan. Pakistan have now few outstanding payments of Oil bills, also increasing loan pressures are making things worse. Deteriorating currency for people mean that they will now have to pay more for their oil and all other bills as everything is imported, so as money weakens the prices of fuel go up, so does the inflation.

This is all due to the defective policies of current government as they have been able come up with circumstances and opportunities to attract the foreign investors. On the contrary the law and order situation in country is so bad that no foreign investors would like to invest fund here for now.

The gas and power outages are causing the closure of existing business and industries here, the ones which are surviving are facing the worst circumstances of all time. The Stock Exchange also closing at low day in and day out.

Until government does not come out with some serious plan to make things right, like dealing with issues of Power, gas and other fuel, dealing with inflation and dealing with law ‘n’ order situation, country’s economy will keep worsen. No more foreign investment will seen, inflation rate will keep increasing exponentially and currency will keep deteriorating making things worse for people of Pakistan.

Unfortunate fact is that we can’t expect any good now from current government as their last four years of rule show that they does not thought futuristically or never thought at all to devise strategies which bring the country out of turmoil and make wheel rolling. They have one more year, though people don’t expect any good now from them but still they can do few good things to bring country out of this bad situation otherwise people have their vote to select correct people in next elections.

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