When benefactors become villains
In recent years, as Pakistan has hurtled from one catastrophe to another, remittances sent by Pakistani workers living abroad have been a source of some small amount of stability.
In recent years, as Pakistan has hurtled from one catastrophe to another, remittances sent by Pakistani workers living abroad have been a source of some small amount of stability.
The government needs to deal with the foreign exchange crisis. Instead of denying the fact that a serious problem exists and hoping that hoped for future flows of foreign exchange would ease the situation, the government needs to take concrete steps to rectify the situation immediately. In a rationally argued position paper, the Pathfinder Foundation has recommended that the government goes to the IMF to secure financial assistance.
On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $748 million to $566.988 billion.
Global oil benchmark Brent crude futures rose 0.41 per cent to USD 68.74 per barrel.
ED sources also said the probe agency will impose a penalty and confiscate the illegal acquisition of foreign exchange recovered from J-K separatist leader Yasin Malik.
The Department of Treasury maintained the same monitoring list but said if India continues with the same practices as in the last six months, it would be removed from its next bi-annual report.
The other items include washing machines, speakers, radial car tyres, jewellery items, kitchen and tableware, certain plastic goods, and suitcases.
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