Bilal's Blog

Every time Rupee slides against Dollar different theories come up from different sections of society.   The policies implemented by Government seems not fully thought and second, third angle not thought about. Sorry state is quite evident in all the previous Governments. Same is the case with Foreign Exchange Companies launch. Liberalization of retail sale of foreign currencies has the implications which are haunting our foreign exchange reserves, money laundering, corruption and terror financing. The Exchange rate on 9 th May 2008 against dollar was 67 rupees. After 4 months in power of PPP the rupee against dollar started sliding from July 9 th 2008 with Rs 4 and at the of their term 24 th March 2013 Rs 98 to 1 dollar. The PML(N) took over on 5 th June 2013 the exchange rate was 98 to dollar and their term ended on May 31, 2018 was Rs 115 to dollar. If we compare 2008 exchange rate with 2018, 10 years slide of rupee accounts for Rs 48 in terms of percentage 32% app...

There is huge furor over IMF visit someone claiming government has decided to go for IMF bailout package or entering into another agreement with IMF. Where government is claiming they have not decided to avail IMF bailout package or not. The government is playing wait and see trying out other options to cover for import bills. IMF delegation was here from 27 th September to 4 th October 2018, on the last day of visit shared their analysis with media. The main observations included the following: Pakistan is facing significant economic challenges, with declining growth, high fiscal and current account deficits, and low levels of international reserves. Recent policy measures are steps in the right direction, but not yet sufficient. Decisive policy action and significant external financing will be needed to stabilize the economy. Once stabilization is beginning to take hold, increasing focus is warranted on critical reforms to foster...

Pakistan is one of the very few blessed countries in the world. We should take pride GOD has blessed with all fruits, vegetables, crops and minerals a country need to prosper at all cylinders. Pakistan has got all of them. But unfortunately Pakistan never prosper in last few decades as it should have been. We reeling with energy shortages which are badly impacting our manufacturing, exports etc putting extra ordinary pressure on Pakistan’s economy. Pakistan seeking money support its import of oil and gas just to keep our industrial wheel keep on moving. Can anyone guess a country with 9 billion barrels reserves of oil and 105 trillion cubic feet gas reserves facing this situation? Anyone can be dumb founded with this stats how can a country with such energy reserves is begging for support and not able to produce the goods at a lower cost to be one of the top competitive exporters in the world. Looking for outside world to buy energy sources to keep the country moving, wh...

It is been decades Pakistan’s energy crisis is increasing with each passing day. Every government claims its efforts on energy front but nothing concrete has been done. Even in 1950 a student of NED university student Malik Aftab Ahmed Khan came with an idea and his article was published in Military College of Engineering “Persian Pipeline” he was awarded Sitara-e-Jurat. The project was conceptualized in 1989 and later in 2012 the annual conference of the International Association of Energy Economics backed the proposal. The Iran – Pakistan governments signed preliminary agreement in 1995. In 2014 the then Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi informed the National Assembly that project is off the table citing the International Sanctions as the reason. The previous government after putting Iran Pakistan gas pipeline off table went for LNG import the LNG is costing more than $ 10.80 against $ 4.93 per British Thermal Unit cost of Iran Pakista...