Bharat Rakshak

Manish_P wrote:Slip of the tip of the finger perhaps... but soon, inshaallah


The FAP’s closing rate of the last session is higher than the State Bank of Pakistan’s (SBP’s) closing rate of Rs 266.81.

...

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[/quote]
Pak Rupee onlee the fifth Batsman to score Triple Hundred after : Hanif, Yousuf, Inzamam and Azahar Ali

Alarm bells: SBP-held foreign exchange reserves down $389mn, now stand at $9.33bn

Foreign exchange reserves held by the State Bank of Pakistan (SBP) declined by $389 million, clocking in at $9.33 billion during the week ended July 15, 2022, a fall attributed "mainly to external debt repayments".

Data released on Thursday revealed total liquid foreign reserves held by Pakistan stood at $15.24 billion as of July 15, while net foreign reserves held by commercial banks amounted to $5.91 billion.

"During the week ended on 15-Jul-2022, SBP’s reserves decreased by US$ 389 million to US$ 9,328.6 million mainly due to external debt repayments," stated the SBP.

The reserves' position is critical for Pakistan that is desperately seeking dollar inflows to meet its balance-of-payments' needs. A low level of reserves has also caused severe pressure on its currency and stock markets, with the rupee touching record lows throughout the ongoing week.

UAE has not agreed to the deal TSP is proposing.
Deal with friendly country eludes govt

ISLAMABAD: Pakistan on Thursday hoped to finalise a deal for the sale of two power plants and minority stakes in listed companies to a friendly country within two weeks in a bid to shore up the fast-depleting foreign exchange reserves and to provide cushion to a sinking rupee.

Finance Minister Miftah Ismail addressed yet another news conference to calm markets. He was flanked by Minister for Defence Khawaja Asif.

However, Miftah admitted that there was “nothing concrete” so far on a deal with the United Arab Emirates for the sale of state assets.

“There is nothing concrete so far,” said Miftah Ismail while referring to the possible deal with the friendly country for the sale of power plants and stakes in the government companies.

His response came to a question whether he had any news to share, instead of just addressing pressers. But the finance minister hoped that the deal could be struck within days.

The deal’s size is estimated at around $2-2.5 billion, depending on the number of shares being offered to the UAE and the price of the two-LNG power plants. Markets may not stabilise, until Pakistan starts receiving inflows from the IMF and the bilateral creditors.

“The friendly countries have shown interest in acquiring stakes in government-listed companies but the move requires legislation that will be finalised within two days,” the defence Minister said. The federal cabinet on Thursday approved the government-to-government transactions Ordinance 2022 for paving the way for the sale of government assets to the UAE.

Asif, who chaired the cabinet committee that finalised the ordinance, said that some of the entities that are on the privatisation list for years could be sold to sovereign wealth fund of the friendly country. Both the ministers did not officially disclose the name of the UAE.

The Express Tribune had reported last month that the UAE had refused to offer cash to Pakistan and instead asked the government to sell its companies to raise funds.

Does it make sense to hold assets in Pakistan that give returns in PKR?

https://www.dawn.com/news/1700939/analy ... at-matters
ANALYSIS: ALL THAT GLITTERS IS ALL THAT MATTERS
Kazim Alam, July 22, 2022
DOLLAR reserves are shrinking as quickly as a popped balloon; the exchange rate is at an all-time high, while yields on our international bonds have gone through the roof.
In short, we’re running out of dollar bills to pay for food and fuel imports. Yet the much-awaited inflows from the International Monetary Fund (IMF) are at least a month away.
A rather novel idea, which has emerged amidst the search for quick fixes, calls on the government to sell its gold reserves for dollars.
Or, as a couple of financial experts suggest, the state-owned precious metal can at least be pledged as security for borrowing greenbacks from global banks at affordable interest rates.
The State Bank of Pakistan (SBP) holds as much as $3.82 billion worth of gold — that’s more than half the total funds that the IMF is expected to disburse under its current loan programme. The SBP-held foreign exchange reserves amounting to $9.7bn don’t include the current value of gold reserves.
“We should seriously consider pledging this gold with some banks in the Middle East or China and borrow against it to generate dollars,” said Asif Qureshi, executive chairman of Optimus Capital Management, a Karachi-based brokerage and financial advisory company.
“These gold reserves don’t generate any returns. They have no practical use for anyone. Since no international bank is currently willing to lend us funds, the government should think about utilising these gold reserves to generate dollars,” he told Dawn on Wednesday.
Loans that have gold as collateral carry minimal interest rates. After all, gold is a tangible asset that’s been used as a store of value for thousands of years in every part of the world.
......
Gautam
Unfortunately, you can sell your gold only once. Pak economists should find a way to sell all their gold reserves once every month.

So why did the world bail out the Pakis and not Sri Lanka? TOI is carrying an article behind a paywall. Can anyone put some excerpts please

kit wrote:So why did the world bail out the Pakis and not Sri Lanka? TOI is carrying an article behind a paywall. Can anyone put some excerpts please

https://archive.ph/5lcV5
why excerpts? have the whole article
use archive.is to bypass any paywall, i also urge members to use this service while posting from odious sites such as dawn to stifle the lugenpresse financially.

So, why does Pakistan stand while Lanka falls?

The answer lies in the great geopolitical game that the global powers play. It’s about the partners that the two countries have.
China is a common partner to both Pakistan and Sri Lanka. But while Pakistan’s partnership has been built over years and involves greater stake for China, Sri Lanka’s is a recent ‘friend’ and the stakes are not as deeply entrenched as in the former. This is why, as Gotabaya Rajapaksa reportedly said, his request for a line of credit of $1.2bn to China’s President Xi Jinping went unanswered.
Pakistan’s other partners have been the US, Saudi Arabia and the UAE. While Sunni Islamic identities drive the deeper ties with Saudi Arabia and the UAE, Pakistan additionally sends its troops to train armed forces in Saudi Arabia.

Thank you ! @ricky_v

It does NOT answer the question really "geopolitics" as named is quite disabused.

Nothing will happen if Pakistan is dismembered., in fact they (the people) would get their act together

the reasoning given " A collapse of Pakistan will let loose a host of terror groups posing a graver threat to global security. In the worst-case scenario, Pakistan may become one or many Afghanistans. This threat to global peace [ ] is Pakistan’s insurance. Sri Lanka has been much higher on social indices to pose such a threat and, hence, warrant that kind of mollycoddling." is trashy logic

^The author has bought into the Paki hype about their being "too important to fail" with their supposed nukes and so-called geostrategic location. The reality is that the world (whether China or the West or Arab four-fathers) are very hesitant to bail Pakistan out currently and mainly are throwing them a few morsels here and there while figuring out how to exploit the situation to their advantage.

SL OTOH would have gotten an IMF bailout a long back, but for the stupidity of the Rajpakshas and the fact that the Chinese had their balls in a vice (and were against any IMF scrutiny of their usurious lending that would have occurred with any IMF bailout). Now they are leaderless and in chaos, which makes negotiations tough.

kit wrote:Thank you ! @ricky_v

It does NOT answer the question really "geopolitics" as named is quite disabused.

Nothing will happen if Pakistan is dismembered., in fact they (the people) would get their act together

the reasoning given " A collapse of Pakistan will let loose a host of terror groups posing a graver threat to global security. In the worst-case scenario, Pakistan may become one or many Afghanistans. This threat to global peace [ ] is Pakistan’s insurance. Sri Lanka has been much higher on social indices to pose such a threat and, hence, warrant that kind of mollycoddling." is trashy logic

Is the author one Couptas or MSI’s friends they have been peddling this nonsense for a decade now

Yeah, the article claims of being a Shunni of the ummah, Cold War GUBO, nukes etc is because the author has no idea about the transactional nature of west (they are pumping in billions into ukraine, Baltic nations etc, which were actually a part of the evil Soviet Union, So they don’t care about cold war anymore) nor does he acknowledge how much of a flying-love the sheikhs give to fellow ummites. The sheikhs does not even setup a mechanism to host ummah refugees, as and when some disruption happens. They merely silence the rising European voter anger at refugees inflow by buying some fancy weapons off the European elites. So this article is written by someone stuck in the Indian op-Ed thought process of 1980s.

Fact is pakis have an army that is a master survivor because it was never a war winner. It merely keeps its nose above water in the war zone while strutting around like a colossus inside their borders. Even if it is beaten in 10 wars and is caught looting their central bank on camera, there is no system in Pakiland to bring them to heel over all that. They will kill thousands of their own citizens with impunity, if their power to loot is disturbed and man on street knows that. Contrast that with Sri Lanka, where the army to its credit, seem to be aloof and not even doing its praetorian duties, while the head of state houses burnt. The srilankan army did not do a Tiananmen or lal masjid, which is bad in the books of powers that screw around. In pakland, even the jihadi idiots gets reigned in with considerable loss of lives on both khaki and fundie sides, once every five years or so (lal masjid, pakhtunwa areas after Peshawar school incident etc). Add to that, the khakis have a very good PR mechanism, for outsourced to west-based RAPE, who are given some part of the corner-plot scams in pindi. China does not need deployment of smooth talking RAPE at Beijing because their public is insulated from world opinions don’t vote and their foreign policy is shorn off the hi-falutin altruism that is practiced by west. So all these work to paks advantage.

The “donors”(China and west) likes such rulers as the khakis, in a place with volatility and not much business prospects, because that is one more nation that won’t trouble any global agenda beyond harming India. In the long run, if Sri Lanka elites weans off the Chinese bribe and takes the right lessons from the house burnings, they can actually do better than pakis, who are hopeless since even now, the khakis are in total control with zero credibility issues internally.

“To train armed forces in Saudi Arabia”.

In what? The etiquette of mass surrender?

vijayk wrote:https://twitter.com/AtifRMian/status/15 ... 4829357056

Pakistan's economy is in deep crisis

a long thread

Do Read

Watched the long video as well - to be honest I had to ff through some of the crap.



It is a wonder how much deep in the sand their MIT educated ostrich heads are.

1. "We will have to manufacture cars to sell to people in New York"
2. Not one mention of defense expenditure / business - at least be honest for the sake of country when you are abroad. Not one mention of the fact that Fauji Foundation is the biggest economic entity in Pakistan.
3. India is a peer - it is this fundamental notion that is a pretext for defense expenditure and allows the Army to misled its people. To give some credit, he does mention Indonesia and Thailand wrt IT sector, not India.
4. "As a citizen of South Asia, it is to our collective advantage that all of grow uniformly .." So if I cannot grow faster, please let me hitch a ride on you while I continue to stab you. And who in hell is a citizen of South Asia? STFU.
5. Some inward reflection in that Pakistan does not create capabilities like India does." Difficult to ignore that when solid waste operations have been outsourced to Chinese and Turkish companies. When you cannot even collect your own garbage ...
6. "IMF includes capital expenditure in Pak's fiscal deficit which it does do for other countries " Idiot - it because IMF knows the manipulation that Pakistan does with its numbers in the previous 12/13 IMF programs. Be honest.
7. Not one mention of the fact how Pakistan has to import food grains inspite of being a primarily agrarian economy.

A dishonest assessment meant to continue to fool the goras and keep the Princeton checks coming.

https://tribune.com.pk/story/2367410/ca ... ell-assets

Cabinet okays ordinance to sell assets

the federal cabinet has approved an ordinance to bypass all the procedures for the process and also abolished regulatory checks including the applicability of six relevant laws.

The government has also barred the courts of the country not to entertain any petition against the sale of assets and shares of the government companies to foreign countries, as per the ordinance.

The federal cabinet had approved the ordinance on Thursday to sell stakes of oil and gas companies and government-owned power plants to the UAE to raise $2 billion to $2.5 billion to avoid the looming default.

No procedure, no process, no Judicial scrutiny of the fire sales.

The Cabinet Committee on the Inter-Governmental Commercial Transactions will be formed that will have sweeping powers, including those overriding six Acts of parliament. The ordinance makes the federal cabinet so powerful that it can even issue binding instructions to provinces to hand over any piece of land and enter into a transaction with a foreign state.

The cabinet committee’s decisions can neither be challenged in the courts nor any investigation agencies open those deals, according to the ordinance.

The scope of the ordinance will be expanded to all “commercial transactions” including sale, purchase, investment, divestment, procurement, licensing, lease, joint ventures, assignments, concessions, services contracts, management contracts or other deals arising out of a G2G or commercial agreement, according to the documents.

Somebody is going to be very rich soon. It is worth reading the paragraphs below in full. It is amazing! The cabinet, through an ordinance, is saying that the laws passed by the parliament is null and void and the ordinance itself and any commercial transactions due to the ordinance cannot be challenged in any court.

The indemnity has been extended to “anything done”, including procedural lapses or omission in exercise or performance of any functions, power or duty conferred or imposed by or under the ordinance or any administered legislation unless the act or omission is shown, beyond reasonable doubt to have been in bad faith.

Similarly, no investigating agency, anti-graft agency, law enforcement agency or a court can initiate inquiry into or initiate investigation for any procedural lapse or irregularity by any person in a commercial transaction or agreement under the ordinance unless there exists an evidence of personal monetary gain with corroborative evidence of link between such monetary gain to the undue benefit rendered to any party of the agreement.

No person will be sued in his personal capacity for action taken in his official capacity.

The government has also set aside six laws for undertaking these commercial transactions to sell stakes to foreign powers.

These are the Companies Act, 2017, Privatisation Commission Ordinance, 2000, Public Procurement Regulatory Authority Ordinance, 2002, Public-Private Partnership Authority Act, 2017, Securities and Exchange Commission of Pakistan Act, 1997, Securities Act, 2015 or any other law for the time being in force or in any instrument having effect by virtue of any law other than the ordinance.

skumar wrote:
A dishonest assessment meant to continue to fool the goras and keep the Princeton checks coming.

Despite being universally hated and persecuted in Pakistan, Ahmedis are among the most rabid India-haters in Pakistan, and had a key role in supporting the formation of Pakistan. This attitude lingers on even after living in exile in the west and being employed at Princeton apparently.

Selling off a country has a new definition now !!

skumar wrote:

vijayk wrote:https://twitter.com/AtifRMian/status/15 ... 4829357056

Pakistan's economy is in deep crisis

a long thread

Do Read

Watched the long video as well - to be honest I had to ff through some of the crap.

It is a wonder how much deep in the sand their MIT educated ostrich heads are.

1. "We will have to manufacture cars to sell to people in New York"
2. Not one mention of defense expenditure / business - at least be honest for the sake of country when you are abroad. Not one mention of the fact that Fauji Foundation is the biggest economic entity in Pakistan.
3. India is a peer - it is this fundamental notion that is a pretext for defense expenditure and allows the Army to misled its people. To give some credit, he does mention Indonesia and Thailand wrt IT sector, not India.
4. "As a citizen of South Asia, it is to our collective advantage that all of grow uniformly .." So if I cannot grow faster, please let me hitch a ride on you while I continue to stab you. And who in hell is a citizen of South Asia? STFU.
5. Some inward reflection in that Pakistan does not create capabilities like India does." Difficult to ignore that when solid waste operations have been outsourced to Chinese and Turkish companies. When you cannot even collect your own garbage ...
6. "IMF includes capital expenditure in Pak's fiscal deficit which it does do for other countries " Idiot - it because IMF knows the manipulation that Pakistan does with its numbers in the previous 12/13 IMF programs. Be honest.
7. Not one mention of the fact how Pakistan has to import food grains inspite of being a primarily agrarian economy.

A dishonest assessment meant to continue to fool the goras and keep the Princeton checks coming.

Thanks. This is amazing. Amazing because this person was chosen as economic advisor to PM Imran Khan but they had to drop him because he is a Ahmedi. Even such bad treatment hasn't cured his Pakiness.

partha wrote:
...
Thanks. This is amazing. Amazing because this person was chosen as economic advisor to PM Imran Khan but they had to drop him because he is a Ahmedi. Even such bad treatment hasn't cured his Pakiness.

Partha ji, there is video just a page of so ago in the terroristan thread of Arif A. Please see what he has to say about Ahmediyas and how hardcore fundoos they are.. even more than Sunnis and Shias.

https://www.dawn.com/news/1701482/rupee ... lar-parity
Rupee report: Weekly rupee-dollar parity
From the Newspaper, July 25, 2022
.....
Gautam
Interesting times, to say the least.

How a strong dollar affects the economy — and your wallet

KARACHI: “My first salary was Rs12,000 in 1996 when one dollar was equal to Rs34. The first salary in the same brokerage industry today is about Rs50,000, even though the dollar rate is over Rs228,” said Asif Qureshi, executive chairman of stock brokerage Optimus Capital Management.

It means the first salary of a fresh finance graduate in the brokerage industry has gone down from over $350 a month to less than $220 in the intervening period.

He advised people against keeping their savings in dollars or even gold as a hedge against inflation. There’ve been many years in which inflation outpaced the increase in dollar and gold rates. For example, the dollar rate barely moved during Gen Musharraf’s years in the 2000s for a variety of reasons. In the same vein, stock investors have made no gains in the last six years or so.

The stock market needs a major influx of liquidity as shares are undervalued, he said. Fixed income funds are offering about 15pc returns, which can be a good hedge against inflation, he added.

Speaking to Dawn, Federal Board of Revenue’s former chairman Syed Shabbar Zaidi said there’s not much that people can do to escape the fallout of a dollar rate increase other than slashing their petrol and electricity consumption.

https://www.dawn.com/news/1701487/return-of-the-zambad
Return of the Zambad
Muhammad Akbar Notezai, July 25, 2022
It is a common sight in Balochistan’s Panjgur district: a convoy of distinctively blue, medium-sized pickup trucks snaking through the desolate terrain, carrying a deadly cargo of contraband petrol and diesel. They rumble through Damag pass, cutting through the mountain ranges in tehsil Pharom near the Pakistan-Iran border, to make their way home with what is the only means of sustenance for entire communities. These blue trucks are known locally as ‘Zambad’ — a reference to their capacity to carry outsized loads. They are the unlikely symbols of an entire grey economy — the transport of choice for smugglers operating fuel routes between Iran and Pakistan.
Over the years, the fencing of the Pakistan-Iran border and checkpoints raised by over-zealous Frontier Corps (FC) personnel had made it increasingly difficult for Zambad drivers to make a living. On paper, the restrictions on ‘importing’ Irani fuel are still very much in place. However, most on-ground hurdles have quietly been removed. In background interviews, officials in the Makran division explained that the local administration had come to realise that fuel smuggling was the only way of putting bread on the table for a major chunk of the population residing in five towns bordering the province.
And so, the Zambads were allowed back on the highways. You’ll see them zipping around, carrying stacks of 60-litre jerry cans full of highly combustible petroleum tied down willy-nilly with nylon rope.
One Zambad driver — Nasir Baloch, father of three — transports smuggled fuel from Damag in Panjgur to Surab, a town that serves as a key hub for the distribution of Iranian petrol to the rest of the province.
“Unlike in the past, we no longer face many difficulties in the transportation of oil,” Mr Baloch recently told Dawn over the phone. He sounded jubilant, even ecstatic. His happiness was due to Pakistani petrol prices sky-rocketing to around Rs250 a litre at the time, while Iranian petrol was still retailing for Rs200 a litre.
“We are being paid handsomely these days. Demand for our petrol has increased manifold,” he explained.
“I have been transporting oil for several years now,” Mr Baloch continued. “When I started, I did not own a vehicle. Today, I have my own. It [the work] is more than enough for me to support my family. In fact, I support my siblings in Panjgur too.”
The Zambad he drives was manufactured by the Zamyad Company in Tehran. As are all other Zambads. They are, in fact, a licensed version of the Nissan Junior — but that name never stuck. Since they are all non-custom paid vehicles — there is, after all, little point in registering a smuggling aide — there has been no official count of their numbers. It has been estimated that it may run in the thousands. Each costs several hundred thousand rupees.
.....
Gautam

partha wrote:

skumar wrote:
Watched the long video as well - to be honest I had to ff through some of the crap.

It is a wonder how much deep in the sand their MIT educated ostrich heads are.

1. "We will have to manufacture cars to sell to people in New York"
2. Not one mention of defense expenditure / business - at least be honest for the sake of country when you are abroad. Not one mention of the fact that Fauji Foundation is the biggest economic entity in Pakistan.
3. India is a peer - it is this fundamental notion that is a pretext for defense expenditure and allows the Army to misled its people. To give some credit, he does mention Indonesia and Thailand wrt IT sector, not India.
4. "As a citizen of South Asia, it is to our collective advantage that all of grow uniformly .." So if I cannot grow faster, please let me hitch a ride on you while I continue to stab you. And who in hell is a citizen of South Asia? STFU.
5. Some inward reflection in that Pakistan does not create capabilities like India does." Difficult to ignore that when solid waste operations have been outsourced to Chinese and Turkish companies. When you cannot even collect your own garbage ...
6. "IMF includes capital expenditure in Pak's fiscal deficit which it does do for other countries " Idiot - it because IMF knows the manipulation that Pakistan does with its numbers in the previous 12/13 IMF programs. Be honest.
7. Not one mention of the fact how Pakistan has to import food grains inspite of being a primarily agrarian economy.

A dishonest assessment meant to continue to fool the goras and keep the Princeton checks coming.

Thanks. This is amazing. Amazing because this person was chosen as economic advisor to PM Imran Khan but they had to drop him because he is a Ahmedi. Even such bad treatment hasn't cured his Pakiness.

Shekar Gupta is pumping this guy up

PKR remains under pressure, falls to 229 against dollar in interbank

The rupee continued to lose ground against the dollar on Monday, hitting a new low of Rs229.88 in the interbank market.

According to the Forex Association of Pakistan (FAP), the rupee lost Rs3.63 against Friday's close of Rs228.37 to reach Rs232 around 1:30pm.

The dollar eventually closed at Rs229.99, with the local currency depreciating 0.66pc, according to data shared by the State Bank of Pakistan (SBP).

Dilbu wrote:PKR remains under pressure, falls to 229 against dollar in interbank

The rupee continued to lose ground against the dollar on Monday, hitting a new low of Rs229.88 in the interbank market.

According to the Forex Association of Pakistan (FAP), the rupee lost Rs3.63 against Friday's close of Rs228.37 to reach Rs232 around 1:30pm.

The dollar eventually closed at Rs229.99, with the local currency depreciating 0.66pc, according to data shared by the State Bank of Pakistan (SBP).

Does this mean we don't have to carry Pakistan Rupee in our Forex basket?

INR:PKR is almost 1:3 .. pakis will soon make it 1:5 and claim they r 5 times more Advanced than Sdre Hindus

Is pindi chana productions down... Al bakistan needs pindi chana gas more than ever

Yawn - Gas prices for export-oriented sectors increased by up to 82pc

The Economic Coordination Committee (ECC) of the Cabinet on Monday increased for the export industry the price of imported and domestic gas by over 38 per cent and 82 pc, respectively, and protected power rates at 9 cents per unit for 11 months effective Aug 1.

Waiting for kaptaan to hit pkr from 3 to 6 vs INR

Dollar breaks all records to hit Rs233 in interbank trade

KARACHI: The Pakistani rupee continued to depreciate on Tuesday amid a deepening political crisis in the country, trading at 233 to a dollar in the interbank market.

The dollar gained 3.12 against the local unit today, against the previous day's close of 229.88 — at the time an all-time high.

Dilbu wrote:Dollar breaks all records to hit Rs233 in interbank trade

KARACHI: The Pakistani rupee continued to depreciate on Tuesday amid a deepening political crisis in the country, trading at 233 to a dollar in the interbank market.

The dollar gained 3.12 against the local unit today, against the previous day's close of 229.88 — at the time an all-time high.

The captaan has actually hit 7 today and PKR is at 237 to dollar in the open market

https://www.forex.pk/currency-usd-to-pk ... dollar.php
Tuesday 26th of July 2022 04:34:39 PM - The current USD to PKR buying exchange rate is 237 as per Pakistan Open Market and USD/PKR selling exchange rate for 1 US Dollar is PKR 237. Below you can see US Dollar to PKR currency charts as per Pakistan Open Market.

Jits wrote:

Dilbu wrote:Dollar breaks all records to hit Rs233 in interbank trade

The captaan has actually hit 7 today and PKR is at 237 to dollar in the open market

Free hit six on a no ball... wah Kaptaan wah

Edit - it was 230 yesterday.. so increase of 3 today. This is the official exchange price as per the SBP

So tomorrow we can probably see INR: PKR ratio at 1:3

https://www.bloomberg.com/news/articles ... tan-assets

Political Strife Threatens Even Bigger Losses in Pakistan Assets

The currency, which is down 23% this year, may drop further to 275 per dollar from about 230 on Monday, according to IGI Securities Ltd. The extra yield investors demand to hold Pakistan’s sovereign debt over US Treasuries exceeded 1,700 basis points on Monday, according to JPMorgan Chase & Co. data. That’s well above the 1,000-basis-point level viewed as a threshold for distress.

Fitch Ratings downgraded the outlook on Pakistan’s credit rating to negative last week, citing deterioration in the nation’s external liquidity position and political risks in the implementation of the IMF program.

Baiys are playing well. Duckworth-Lewis says 275 is within reach

Dilbu wrote:PKR remains under pressure, falls to 229 against dollar in interbank

....According to the Forex Association of Pakistan (FAP) ...

Seems to be yet another Pakistan Institute of Strategic Studies.

https://www.dawn.com/news/1701771/press ... oon-miftah

The government first requested the unnamed friendly country for dollar-denominated deposits to shore up foreign exchange reserves. But it turned down Islamabad’s request, saying the latter never returned the deposits, the finance minister said.

Subsequently, the friendly country showed willingness to buy shares in listed government-owned entities under a buyback agreement, which will give Islamabad the option — but not the obligation — to repurchase the same shareholding after a certain period of time at a 5pc higher rate.

“There’s not even (a question of) price discovery,” he said, noting that the friendly country “wants to helps us” and is giving Pakistan “a good deal”.

Yawn - PKR falls to new low of 236 against dollar in interbank

The rupee continued to slide against the dollar on Wednesday, hitting another low of Rs236 in the interbank market.

FAP chairman Malik Bostan highlighted that there was a need to increase dollar inflows as it would stabilise the rupee.

He further stated that the local currency should be used for trade with Afghanistan as it would save $2 billion in foreign exchange.

Ummah brothers of the strategic depth gutter only want to deal in amreeki dollars

The dollar has come under renewed pressure amid higher demand from importers. Bankers say the “import mafia” has practically drowned the national economy and is still insisting that more imports be allowed while the country is already on the brink of default.

And all the while we were thinking it is the PKR under pressure.... keep at it Bakis, after all you have defeated 2 super powers..

So the price of shares will be set by the friendly country buyer, presumably at a lower rate, and he will resell it to TSP at a later date with 5% margin on top. In case of default he can sell the shares in open market at a likely higher rate and recover his principal. This is more like the Sharia system of providing loan by buying and selling instead of outright lending at 5% interest.

PKR falls to new low of 237 against dollar in interbank

The rupee continued to slide against the dollar on Wednesday, hitting another low of Rs237 in the interbank market. According to the Forex Association of Pakistan (FAP), the local currency fell Rs4.07 to Rs237 from yesterday’s close of Rs232.93 at 11:50am.

Anujan wrote:

Dilbu wrote:PKR remains under pressure, falls to 229 against dollar in interbank

Seems to be yet another Pakistan Institute of Strategic Studies.

According to some reports Shireen Mazari's presence as head of PISS caused a severe disruption in FAP activities.

Dilbu wrote:PKR falls to new low of 237 against dollar in interbank

The rupee continued to slide against the dollar on Wednesday, hitting another low of Rs237 in the interbank market. According to the Forex Association of Pakistan (FAP), the local currency fell Rs4.07 to Rs237 from yesterday’s close of Rs232.93 at 11:50am.

In past few days, it seems the journos at the Yawn have given up

Now the article is the same, only the headline is changed to mention the new exchange rate and a new first para is added with comments by the head FAPper...

OK. Target Indian Rupee:Paki Rupee 1:3. met in the open market.
One Indian Rupee worth 3 Pakis