In last few years Pakistani Rupee (PKR) lost its strength more than ever. Never before rupee fallen so much over such a short period of time. This all shows how much grip Pakistan Peoples Party (PPP) had over the economy. In simple words absolutely none. Rupee’s worth against US Dollar (USD) was 60 Rupees against one USD 5 years ago but now as PPP ruled and left, rupee fallen to 100 rupees against one USD.
Not only this also over the last 5 years foreign investors only pulled out, Pakistan does not seen any new investment cumming in. Stock exchanges only seen downturn all the time making the lots of investors lose their faith in investing into the shares.
Let alone bringing new businesses Pakistan had some multinational companies pulled out of country. Two of examples I can quote here are the Siemens and HSBC bank. Siemens have already pulled out and HSBC is in process of doing that as they had been merged and sold to local JS Bank.
This all happened due to Zardari led PPP’s government’s faulty and unsustainable policies. Did they ever had anything called policies, well if they ever had, they were only in books and were never implemented. In fact they were not succeeded in any trait of life but here we are only focusing on their economical failures.
Good news for foreign investors and specially Pakistani people is that future of this country is bright. As we head for Pakistan General Elections 2013, people of Pakistan are more aware than ever. Surveys show that people of Pakistan are fed up of so called leaders who only let them down and are committed to choose the fresh blood who have some futuristic commitments and goals to be achieved for their country. So do get out of your home on elections date, that is 11 May, 2013 as for now.
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From few days daily Rupee is in pressure again US dollar and other stable currencies of the world. Rupee today again traded at record all time low of 90.48 against US dollar. This is the true depiction of weakening economy of Pakistan. Pakistan have now few outstanding payments of Oil bills, also increasing loan pressures are making things worse. Deteriorating currency for people mean that they will now have to pay more for their oil and all other bills as everything is imported, so as money weakens the prices of fuel go up, so does the inflation.
This is all due to the defective policies of current government as they have been able come up with circumstances and opportunities to attract the foreign investors. On the contrary the law and order situation in country is so bad that no foreign investors would like to invest fund here for now.
The gas and power outages are causing the closure of existing business and industries here, the ones which are surviving are facing the worst circumstances of all time. The Stock Exchange also closing at low day in and day out.
Until government does not come out with some serious plan to make things right, like dealing with issues of Power, gas and other fuel, dealing with inflation and dealing with law ‘n’ order situation, country’s economy will keep worsen. No more foreign investment will seen, inflation rate will keep increasing exponentially and currency will keep deteriorating making things worse for people of Pakistan.
Unfortunate fact is that we can’t expect any good now from current government as their last four years of rule show that they does not thought futuristically or never thought at all to devise strategies which bring the country out of turmoil and make wheel rolling. They have one more year, though people don’t expect any good now from them but still they can do few good things to bring country out of this bad situation otherwise people have their vote to select correct people in next elections.
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