The Pakistani rupee has gained some strength after IMF disbursed first installment of the loan which it has approved for the country. The Pakistani rupee had depreciated because of rapid flight of dollar from the country and a looming threat of default. Now that the threat of default has been cleared, it is expected that rupee will gain more value in the coming days.
Pakistan is an unfortunate country. It is said that Pakistanis have over $100bn in foreign countries. If only a fraction of this amount could be brought to the country, there was no need for any IMF programme. The stature of the country was lowered because of persistent calls for financial assistance from each country. The effort to attract foreign investment cannot bear fruit unless the political situation improves. It should be the first duty of the government to restore confidence of Pakistanis themselves before asking foreigners to bring investment in the country.
The Pakistani rupee has gained some strength after IMF disbursed first installment of the loan which it has approved for the country. The Pakistani rupee had depreciated because of rapid flight of dollar from the country and a looming threat of default. Now that the threat of default has been cleared, it is expected that rupee will gain more value in the coming days.
Pakistan is an unfortunate country. It is said that Pakistanis have over $100bn in foreign countries. If only a fraction of this amount could be brought to the country, there was no need for any IMF programme. The stature of the country was lowered because of persistent calls for financial assistance from each country. The effort to attract foreign investment cannot bear fruit unless the political situation improves. It should be the first duty of the government to restore confidence of Pakistanis themselves before asking foreigners to bring investment in the country.
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