Saturday, 20 April 2024, 06:40:08 am

Analysts hail strengthening of rupee and other positive economic indicators due to government’s measures
August 03, 2022

Dr. Noor Fatima (Economist): The depreciation of the rupee in the last few months was around 33% that was quite unrealistic. The continuous rise of the dollar against our currency resulted in massive inflation. The government's measures to bring the unstable economy on the right track are appreciable. The government took some tough decisions including increasing the petroleum products that also affected its credibility as well. Moreover, the decision of the government on the import of luxury items helped us to reduce the import bill. The import bill in July was 5 billion dollars as compared to 7 billion in June. The foreign remittances are continuously increasing and some of the friendly countries also supported the government in this regard. The strengthening of dollar against rupee was the main cause of inflation but hopefully the government will definitely bring the rupee value up against dollar that will result in reduction of inflation as well.

Dr. Tauseef Akhtar (Economist): If the economic team of a country is professional that devises prudent policies then there will be fruitful outcomes. The Pakistani rupee, which had been steadily declining against the US dollar in recent months, reversed its fall. It is high time that the political parties in the country put behind their political interests and work together for economic stability of the country. The imports have plunged by 38.3% over the previous month as a sizable cut in imports was witnessed after the government banned a number of luxury items to manage the shortage of dollars in the economy.

Dr. Zahid Anwar Khan (IR Expert): The struggle of Kashmiris for their fundamental right to self-determination and their determination in this regard is commendable. The Kashmiris have been sacrificing their lives and facing the worst Indian atrocities for the last many decades. Pakistan is continuing its moral, political and diplomatic support to Kashmir cause and wants a peaceful solution to this long-standing dispute in accordance with the UN resolutions. The Indian government is not only negating the UN resolutions but also committing the worst human rights violations in the occupied valley. The unilateral and illegal Indian move to change the demography of Kashmir is a clear violation of international law as livelihoods of the Kashmiri people have been severely affected in the aftermath of India’s illegal actions on Aug 5, 2019. Now the Indian government is issuing domiciles to Indian citizens to get them settled in Kashmir. The intervention of the international community to stop Indian policies is the need of the hour.

Dr. Rashid Ahmad Khan (IR Expert): Pakistan has a principled stand on Kashmir that this long-standing dispute must be resolved according to the UN resolutions. On the other hand, the Indian government unilaterally and contrary to its own constitution abrogated article 370 and 35-A as part of an effort to change the demography of Indian Illegally Occupied Jammu and Kashmir. It is a fact that Kashmir is an internationally recognized disputed territory and the United Nations bears the responsibility of preventing the massive violations of human rights being committed by the Indian occupation regime. Every Pakistani has a deep sense of commitment to the cause of Kashmir. It is Pakistan, which is the backbone of the Kashmiri struggle. The Kashmir issue was alive again as the UN Security Council has considered it thrice since August 2019, when India illegally merged the disputed territory with the union. It is the responsibility of the international community to ensure accountability of India’s grave and persistent violations of human rights and war crimes being committed in the Indian Illegally Occupied Jammu and Kashmir.