Hello everyone
Today when I opened the news update, there I found a very strange and shocking thing that in the starting of the new year the Pakistani currency will suffer a downfall and according to a report by BMI research, they estimated that 1 American dollar will be worth 350 Pakistani rupees by the end of this year.
This report, which was given by BMI, they also said that Pakistani currency will be the worst currency in Asia in 2024 and will suffer further downwards in the next 3 years. So, you can imagine that how much Pakistani currency will fall down, it will fall below the currency of Srilanka as well in the upcoming time.
There are many other disadvantages too, such as High inflation in Pakistan, a trade deficit, Pakistan's debt servicing burden will become even more difficult and foreign investments will decrease. In addition, all this could lead Pakistan to default.
There are some ways for Pakistan to get out from this situation like Pakistan should repay the loans as soon as possible. Pakistan should take help from International Monetary Funds IMF as well as from the Lenders, in order to avoid a default.
If this situation continues then it will be hard for the citizens of Pakistan because there will be a High inflation. As you know that Pakistan is still suffering from a High inflation, those who don't have enough salary, believe me they are doing suicide.
Few months ago, I was reading the newspaper there I saw a very heart breaking news that a men committed suicide and he also killed his whole family which includes his wife and three sons, because his salary was not enough to fulfill their monthly expenses. When I heard about this strange story, my heart breaks into pieces.
Moreover, you can see that Afghanistan which was far behind Pakistan few years ago, now it has developed a lot. For instance, one currency of Afghanistan is equal to 4.11 rupees of Pakistan. There is only one thing, the prime minister of Afghanistan works hard on his country, in contrast, the prime minister of Pakistan didn't focus on the development of his country.
One of the big disadvantage of this downfall is Pakistan's high inflation and the other big disadvantage is that the prices of petrol will touch the sky. A year or two ago, Pakistan was very close to default but was luckily saved by the help of different organizations, at that time petroleum rates in Pakistan was very high and it hits the record that was about 331.38 rupees per litre. And if the same situation continues, it will cross the record too.
Finally, there is a very important role of government. Along with the government, people also have a great role to bring Pakistan back to its old position, The people should support their honest leaders so that they can save them from this big problem and its only possible to stand against every corruption going in Pakistan.
...Thanks for stopping by...