Pakistan Imports Fall Sharply In July | Dollar vs Rupee | Economy

PAKISTAN ECONOMY:

 Pakistan Imports Fall Sharply In July:

 Pakistan imports have fallen by more than a third in July after a ban on non-essential items. The Finance Minister of Pakistan said the improved trade situation will reduce pressure on the struggling rupees. July imports were down to 5 billion. They were down 25 from June's record high of 7.7 billion dollars. The central bank and Pakistan statistics bureau are yet to post July data rupee traded roughly at 239.37 to a dollar on Friday after shedding about five per cent last week. This year the ban on non-essential goods was lifted last week except for automobiles cell phones and home appliances. Pakistan said his government has resolved to bring down current account deficits significantly and post a surplus in a year or two. The south Asian nation has fast depleting foreign reserves due to a rise in oil imports. It is struggling to finance a widening current account deficit as well it has seen a 2.3 billion dollar surge in June mainly due to a rise in oil imports. The deficit for the financial year ending June 30 was at 174 billion dollars against 28 billion last year earlier in July. Pakistan reached a staff-level agreement with IMF for disbursement of 1.7 billion dollars under resumed payment of the bailout package. 

Dollar Vs Rupee:

 Due to the current situation in Pakistan, the dollar is rising and the value of the rupee is decreasing. Expenses are out of control and the poor strategy of the finance minister is taking Pakistan under huge debts. people are on the streets now and cannot take over the regular increase in goods. Simultaneously flood in Balochistan and many other cities caused the situation to go out of control. Pakistan now has come under 2nd worst currency in the world due to poor performance.

 Elections:

 The election commission should conduct elections as soon as it can. Citizens should use their voting rights to keep in view Pakistan's current situation and vote wisely for the excellent fate of Pakistan. The new government should come up with the strongest plan to cope with this worst condition.