POLITICAL INSTABILITY AND RISE OF THE DOLLAR
(Shah Nawaz Bokhari, Rawalpindi)
Political Instability and Rise of the dollar
It is a tough time for Pakistan. Today, all parties face intensified political turmoil in Pakistan. However, it is time to learn from previous mistakes. The politically unstable state cannot develop new reforms in the economy. In this regard, the Pakistani economy would be stable if all parties have to unite in the best interest of the people of Pakistan. The politically unstable states cannot do something for the welfare of the people. The instability is the worse factor for the growth of production and economic development. The political juncture should need to be ended. It is time to be united all parties to find the cure to settle the economy of Pakistan. The high inflation rates of daily commodities should reduce otherwise Pakistani economic will collapse. It is our adversity the political setup is not nourished in Pakistan.
It is our political phenomenon and it is adversity for the people of Pakistan they have not established democracy in Pakistan and have never set up to revive constitutional reforms. The political leaders in Pakistan are un-mature to develop constitutional reforms. l am also amazed to explain to you, in this regard, approximately, Fourteen thousand laws have been made to run this state smoothly. Our unfortunate is not to produce good political leaders who have capable to leads this country. Anyhow, it is our political dilemma, which will reduce one day.
The role of the Dollar in Pakistan is the most influential factor, however, it is not suitable for economic aspects, nevertheless, it is playing a due role in the development of Pakistan. If the dollar rises in this state then the Pakistani currency is devalued. Conversely, the rise of USA currency will hit Pakistan's economy and turn into adverse effects. In this regard, Pakistan Stock Exchange is a big reason to worry, in my perception this institution will abolish in all Muslim states. Moreover, the attitude of the people of Pakistan should revert to withdrawing dollars and taking Pakistani currency notes. In further no Pakistani will have to purchase US dollars even never have stock of US currency in any manner. We are equally responsible for this devaluation of our currency.
In my perception, the upper middle and elite class should not purchase US dollars and never stock US dollars at home because these tactics would participate in devaluing our currency. People should get rid of the habit of stocking dollars and not purchase US Currency notes for earning purposes. Nevertheless, it will have to make traveling objectives only. In this regard, the barrier should be imposed to revoke the rise of the dollar in Pakistan. We should use our currency while importing and exporting to foreign states.