Chairman Pakistan Forex Exchange Association Malik Bustan says that it is being said every day that Pakistan will default, fear God, don’t make such a fuss about default, there is no distant sign of Pakistan defaulting.
Talking to the media, he has said that the dollar went between 315 and 320 rupees, credit card payments were 10 to 15 million dollars a day.
Malik Bostan said that we have a supply of 5 to 7 million dollars, there was not so much volume in the market, when the demand for dollars came, the rates were going to increase.
He says that after informing Finance Minister Ishaq Dar that banks are buying dollars for credit card holders, the Finance Minister directed that credit card payments will be made at the bank rate.
Chairman Pakistan Forex Exchange Association has said that there are Hajj flights, there is a demand for dollars for Hajj pilgrims, Hajj flights will be completed, overseas Pakistanis will come on Eid, the dollar rate will fall.
He said that the nation is not happy in any situation, when the government increases the rate of the dollar, they say why are they increasing it? If the government does not increase the rate of the dollar, they say, why are the rates not increasing?
Malik Bustan says that the country has 10 billion dollars of foreign exchange, the current account has been positive for the first time in 28 months, the value of the dollar keeps going up and down in the market.
They say that the IMF has made the government dance a triple dance, the IMF makes new demands every day, because of them there has been a panic, there has been a deadlock for 6 months.
Chairman Pakistan Forex Exchange Association Malik Bustan also said that Prime Minister Shehbaz Sharif also spoke, but the IMF did not believe, now thank God he has said that a staff level meeting should be held. It is Wally.
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