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Lahore: Economist Dr. Qais Aslam said that the Eid of speculators, smugglers, thieves, and bribe-takers is in full swing. The rate of inflation has now reached 45%. This means that a person who earns one rupee now can buy something worth 55 paise. I think currently businessmen are selling their assets and sending dollars out of the country. He was reacting to the current value of the dollar and the rise in interest rates.
Speaking to a Dunya News program, Dr. Qais Aslam said that the dollar went above 300 in the open market, due to which imports will be expensive and exports will be cheap. Mind that your treasury will be empty, debt in rupees will increase and taxes will increase. If you have to spend more, the difficulties will increase for people.
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He further said that 60% of the country’s electricity comes from foreign oil, which means it will be expensive, your gas is also coming from outside, and grain and edible oil are also coming from outside. There is no other business that earns 30, 35, or 40 rupees except dollars. I think businessmen are selling their assets and sending dollars out of here.
He said that one of the reasons for the boom in yesterday’s market was the first day of the opening of LCs, on the other hand, the business is not running and the interest rate has been reduced to 20%. Now if you want to do business, your purchasing power will also decrease and Investment will also become difficult and such measures will further depress the economy.
