Lahore: Report By Muhammad ALi Khan
“These people are trying to fill their pockets before the end of the government, the coming days are very worrying for the economy” Shehbaz Gill.
Lahore SOG Magzine: Expressing fear that the price of the dollar will reach 300 rupees. According to the details, Pakistan Tehreek-e-Insaaf leader Shehbaz Gill while talking to private TV channel ARY News said that these people are trying to fill their pockets before the end of the government, which is very worrying for the economy in the coming days. It seems some people have spoken, they have said that the dollar may go to the level of Rs 250 to Rs 300.
It should be noted that the ongoing political uncertainty in the country started to cause the destruction of the country’s economy. On Tuesday, the dollar broke the back of the Pakistani rupee in the currency market. According to the report of Dunya News, only on Tuesday due to the increase in the dollar, the volume of the country’s debts increased by more than 1 thousand 400 billion rupees.
It has been reported that on Tuesday, the price of the dollar increased by 6 rupees 80 paise in the interbank market, while in the open market it increased by more than 8 rupees.
Thus, the price of the dollar in the interbank became 221 rupees 99 paise while in the open currency market it became 224 rupees 50 paise. Regarding the increase in the price of the dollar, Chairman Forex Association Malik Muhammad Bostan said that the banks are speculating on the price of the dollar by justifying the political situation in the country, which the State Bank should take notice of. He said that in the market Unnecessary increase in dollar value should be prevented, and forward booking of dollars should be banned immediately to end the monopoly of banks to prevent a panic situation in the market.
On the other hand, currency experts say that due to the fear of a change of government in Punjab and the Center after the by-elections, the financial markets are in chaos and are buying dollars, getting money from the International Monetary Fund, friendly countries, and bilateral sources. Importers’ demand has also increased due to concerns regarding
