Articles of the year 2020

One of the biggest crime by Nawaz Sharif was opening up the foreign exchange movement into and from Pakistan. Earlier this movement was strictly controlled by the State Bank of Pakistan and kept the Pakistani rupee very stable.

As Pakistan is a net importer, the Pakistani rupee is bound to drop without an artificial prop up. Allowing free movement of dollars created many Ayyan Alis who accelerated the outflow of dollars.

A program on ARY showed that Hamza Sharif had moved almost eight hundred million rupees (equivalent to one billion dollar) out of Pakistan.

This out flow was not matched by export earnings and therefore there is a huge gap in the current account, this deficit shows up immediately in the price of dollars in Pakistan.

Hence this entire debacle of the run on the rupee showing the jump of forty rupees per dollar in one week is the PMLN playing their games with the Pakistani economy as the biggest movers.

PMLN/Zardari were the only major buyers of dollars. The State Bank of Pakistan has a list of the dollar buyers and this list should be made public, so that the people are made aware of these anti state elements.