Pakistan must be very cheap for Pakistani Americans visiting. Will dollar at 77, they must be having a Joy ride.
with the beating that teh greenback has taken, Pakistan is probably one of the few places where shopping is a joyride.
but then goign there is not the best thing, talkign heads in US are already talking about how alkayda is strong in pakistan and is now recruiting US citizens and perm residents..basically anyone who dunn need a visa. which basically means more hassle on teh way back. even for ppl going to have a joyride shopping with the exchange rate .
^ But during the Mush era, it plummeted down to 77 or 74 too :) He should resign immediately.
Careful there; if Mush-Shortcut era is 58 and Mush sans Shortcut is 77, you mean Mush should go and Shortcut should take over?
That said, Shortcut may have done a btr job of hiding the oil based inflation in that he'd have approached Saudis a year earlier for the deal. If bankers know one thing, that is to hide bad news really well for decades
i read an article that the countrey is being run by 3 ppl none of whom are in elected office, musharraf, nawaz and zardari..
Musharraf is the president (self imposed through dictatorship), and the former COAS, and has been for 8 years. Never elected.
Zardari heads the party with the most weight behind it, in terms of the votebank, and has govts in multiple provinces and enjoys the support of the 2nd largest party in Pakistan too. He has been elected himself numerous times, and I am sure its a walk in the park for him to have won a seat from his home town.
Nawaz, again twice elected the PM of Pakistan, would have won his Lahore street in a whisker, and ONLY heads the party which runs Punjab right now. I dont think he has a say in running 'Pakistan' as much as Zardari and Musharraf, but thats not the point.
People voted for the PPP and the PML[N], and they knew very well who runs these parties, and in Sharifs case, he was ready to contest elections had it not been for the court decision. If people had voted for the PML[Q] we could have said maybe they want Musharraf (Grand daddy of the PML[Q]) to remain President, but sadly that didnt happen.
We cant equare Zardari/NS to Mush's position. Mush violated the constiuition several times, and is holding an office illegitimately.
aray bhai, toh go argue with the guy who wrote that article. mera sar kyun kha rahay ho? mein nay toh general knowledge kay liye diya tha.
zardari and Nawaz calling teh shots are as alien to me as if instead of bush th head of RNC was calling the shots or instead of clinton back in the day head of DNC was calling the shots.
the leader of the nation is Gilani not Nawaz and not Zaardari. and that is my point. or are you saying this govt is a sham and he is a mere stooge.
Bhai I dont know who wrote the article, Im just elaborating on it, as per my thoughts since you mentioned an excerpt from it.
I see no problems with Zardari and Nawaz calling the shots, because they had people voting for them which established their credentials to do such a thing.
Yes, it happens, Bush's daddy, the former president, was often thought of calling all the shots. Gillani is a puppet PM, but the difference between him and Jamali/Shortcut is that he reports to an elected party's boss, not a military dictator.
the difference is that bush's daddy was often 'thought' of as calling the shots. In this case it is an obvious case and I can not find a parellel of it in the democracies that I am familiar with i.e. US and UK, where the party chairman was calling the shots and not the prime minster or president, especially on such critical matters
few people have discussed this topic extensively on this website.
due to structural reasons, pakistan like other developing countries like india, vietnam, turkey etc will be running a big current account deficit for the foreseeable future. current account deficit means that pakistan foreign exchange outflows will be greater than in-flows. given the size of the pakistani economy, only way this deficit can be financed is through attracting foreign investment because no govt or multilateral agency has the mandate to provide the money that pakistan needs. without foreign investment, pakistan's reserves will decline, rupee will continue to weaken and economy will contract - a pattern seen through most of 1990's. since pakistan is an import dependent economy, weakening currency will result in higher inflation independent of developments in the global economy. commodity prices in the 1990's were at very low levels and yet inflation continued to be high in pak during that period.
unfortunately for the people of pak i see no economic relief in the near future because instead of attracting foreign invetsment, govt's policy is resulting in capital flight with local investors parking their money abroad which is whats causing the currency to weaken these days.
since pakistani awam elected the current round of jokers, awam must now be willing to live with the consequences.
unfortunately for the people of pak i see no economic relief in the near future because instead of attracting foreign invetsment, govt's policy is resulting in capital flight with local investors parking their money abroad which is whats causing the currency to weaken these days.
since pakistani awam elected the current round of jokers, awam must now be willing to live with the consequences.
king_faisal bhaijan. You are right. Unfortunately, I too do not see any significant foreign investment coming into Pakistan for the foreseeable future. The company I work for has put on hold over $60 million of investment in Pakistan. This may not sound a lot, but would have created a lot of employment opportunities in Pakistan, which in turn would have helped create a positive impact in the vertical they are involved in. Let's wait and see what happens.
shame on you, people like you are the real enemies of Pakistan who want Dollar to be Rs1000 as well as army take charge of Pakistan. enjoying the life abroad, you want your penny earned to be worth a lot in Pakistan while Pakistanis living there continue to suffer worse.
Wow...what comments...guess what...Pak folks have a built-in selfdestructive mechanism from within...now beat that... :D
well the foreign lot shouldnt be so happy on Pak rupee value, as a dollar or pound may buy more rupees but when in Pakistan these more rupees still buy less because of inflation, so the dollar end buying same in Pakistan as before.