Imran khan is just a failure and in last 6 months, my most honest opinion without any personal grudge, this nation has seen rhetoric, just criticising the past government ( and that also with fake information), and above all total mismanagement on economic front. Bringing budget for 3rd time in 6 months is just one example of their cluelessness.
The PTI blind supports still dream of a cycle going PM in Pakistan who will be punishing the corrupts. Who will start from his own home first. Who will make Aleema khan an example for others. Who will first pick their allies and the biggest daakoo of punjab and demand him resignation to avoid any possible influence on their cases (remember that was the high moral ground he was demanding from NS). In Naya Pakistan, the Clean PM will treat powerful and less powerful on equal grounds.
But please wake up.
@ Inamullah Khan sahib:
One KAFIR BABA JI, Albert Schweitzer says:
EXAMPLE IS LEADERSHIP.......
We all are aware of his past performance in various great organisations which immi founded in his career......
Structural reforms take a long time to be fruitful and visible...... we are too emotional nation and want result over night.....
It is what it is.....
I personally believe that Rs. Will get stronger in coming few days .... Although does not sound technically correct.
But this is my believe and guess too :)
Is a strong rupee or a weak rupee good for the economy?
Unfortunately, the only possibility for a stronger PKR, if that ever happens will be artificial as on last PKR depreciation, govt. has made it mandatory for the State Bank to consult the Govt. before adjusting Forex rates (bye bye to the autonomy of institutes as was promised during and before the election campaign). Don't be surprised if we see same tactics employed by Dar to drag USD to 98 by borrowing USDs and when the borrowed USDs burnt off PKR got murdered in a few months time... Saudi & UAE loan comes at a price of +3% and 2.8% per annum.
Weaker/Undervalued PKR or currency only becomes useful when exports are increasing as is the case with China. On export fronts we are also loosing as exports have been dropped in last 6 odd months.
Some local baba ji has predicted dollar going to hit 175 mark. You can reject this prediction, but I would keep all my options open.
Pakistan is living beyond its means pure and simple. The massive foreign debt is going to haunt any future government since even debt servicing will be difficult unless exports/remittances are boosted.
USD hitting the 140+ mark and seems to be progressing before the budget times…
Usd rising any further will be a disaster for us as far as inflation is concerned
Unfortunately, 150 Mark may not be too distant. Any intake from IMF will lead to the Devaluation as IMF has been insistent on a free float of PKR that settles somehwere around 145 to 150 mark.
Currency Devaluation hurt only poor people rich people already have foreign reserves or huge investments.
Currency devaluation doesn't hurt poor people as much as inflation and joblessness resulting from slow economic growth does. Look at government's own figures, inflation has crossed 8% and growth rate is down to end up at 4.3%.
These jokers have moved their begging bowel around the whole worldl and broke all records of taking loan. Within next 2 months the new wave of inflation is going to crush us all.
Unfortunately this nation has been fooled once again, and the puppets installed this time are the most incompetent ever.
Economic instability bring along civil unrest and war at times during which power corrupt and elite become a direct victim…
Unfortunately, prediction is 142 ~ 145 mark by the end of next month as we enter into next round of negotiations with the IMF.
Where should one invest if one has spare cash?
I have around 10 million but am fed up of losing its purchasing power against the major international currencies, fed up of this incompetent govt!
Should I put it all in USD or GBP as no growth in property expected in near future? Please advise where to invest!
Don't criticize what you don't understand MY SON . You've never walked in that mans shoes . Elvis Presley
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The man who is swimming against the stream knows the strength of it. Woodrow Wilson
Ilyas sb, on the very same thread a few months back, I simply placed some predictions on further devaluation and you were highly skeptical of that and terming that as poor calculations and predictions .... :)
Unfortunately that's happening right now even before the edit option for my previous comments is gone. Devaluation not for the last time, even for this year...
I myself am a pro-realestate investments but as things stand now, with a few exceptions, real estate growth will be stagnant for 2019. However, this is buying time too if one has the holding power but sure not right time for short term investments...
Ali Khan, invest on gold if you have any spare cash. The world is headed towards another global economic crash as of 2008. So your best bet is precious metals, USD and GBP are the next best choices. But you never know.
Keep an eye on situation.
https://www.businessinsider.in/the-next-economic-crisis-is-almost-here-will-it-be-worse-than-2008/amp_articleshow/68556273.cms
As short term investment, dollar may give you some return in PKR as 3-5% devaluation is almost certain. In fact it has already started hapening since last week. Dollar has climbed up from 138 to ~142 in open market.
I have been big-time supporter of Imran Khan, even here on this forum but situation is very disappointing at this point.
Asad Umar's un-decisiveness on IMF bail-out gave more shocks to dollar rates than any other negative indicator present in the economy.
They should decide it one way or another, instead of playing this game of going or not going again and again.