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Investor
( 162 posts )

[388 Replies]
Pakistani rupee value is doing a nose dive and currency value has depreciated 30% compared to british pounds since 2017.

I bought 2 plots back in 2015 in bahria town. Even though the price of plots have gone up by 10% each year, the value of currency however depreciated and the investment is completely worthless.

Anyone seeing anything positive coming out of pakistan's economy in the next few years?

    198 days ago In Where to Buy
    Post Answer
    Sheikh_007
    (719 posts)
    Well .... I am sure about one thing .... That effect of this currency devaluation will soon be observed in developed real estate, specially in cities like Islamabad Zone-1 with limited supply of houses/plots.



    So i kind of agree with Ilyas Sahab, dollar will eventually stabilize but real estate prices will grow.
      152 days ago 

      Sheikh_007
      (719 posts)
      For me, next 1-2 months are best time to convert your dollars into real estate assets .... But go only for developed areas.
        152 days ago 

        Imtiaz
        (921 posts)
        Yes real estate prices will grow, no matter how fast or slow but they will, not across the board but in those areas where internal (inside the society by the developer) and external developments (state or province level infrastructural area) will take place!!

        USD is also bound to grow, perhaps not aggressively as it did in last 6 odd months but 150 mark may not be too distant because IMF is insistent on that and our trade deficit is not helping.

        Now state-bank will consult Govt. for Forex rates, I see something similar like Ishaq Dar did to drag the dollar from above 100 to 98 but that was all artificial and in a space of 2 years that artificial hike has hit hard jumping from 98 to almost 140. Saudi loan & deferred oil payments may help PKR stabilise but to a certain extent only if, unless genuine economic reform measures are not taken (Increasing Tax Net, Cutting losses in Energy Sector, Circular Debts, Increased Export, Fuel Prices)

        - What we don't need is unnecessary manipulation (buying USDs from open market to fill in the reserves) to stabilise the dollar but once the borrowed USDs have been burnt off, their repayment can be disaster.

        - What we need is increased exports and minimized trade deficit (export - import) that is the ideal solution and hoping that it happen too.

        Otherwise PKR against USD is like our team batting in the 2nd Innings... Despite all the sympathies and support, no one bets on that... Unfortunately.
          151 days ago 

          Mohammed
          (136 posts)
          Very fruitful discussion going on in this forum by the members. No matter we like it or not weakening dollar will still be stronger then PKR, and most currencies of the world. Mara hua hathi sawa lakh ka he hoga. In forseeble future i dont see any increase in exports unless we receive speciel blessings from the power that matters. In Pakistan buisness model is very simple take loan and get it written off or take subsidies from the government and stash ur wealth overseas. All ultimately paid by the taxpayers money. Here nationalism is only for the poor or stupids.

          in last 70 yrs we have developed only one exportable item and world doesnt need it any more. There is no input on human resource development. Back bone of any economy is its people and mashallah we are at top from the bottom in that aspect with stunted growth both in body and mind rampant in the society.

          Although i am apolitical neither IK nor pti fan but i see only positive in IK with his vision of human resource development.
            147 days ago 

            Imtiaz
            (921 posts)
            Agreed HR development can alone be a significant booster. IK's intentions and capabilities can be sincere and willful, hoping the team also do the miracles...

            On a similar note, the FBI's (masterpiece) blunders never cease to surprise... Tax imposition is no issue but Subsidizing the Elite at the expense of the Commoner is a big one...

            Ask public to invest in Pakistan and be safe under 5 million, once they do it than bring in a new rule to hunt them down!!

            --------------------
            FBR looking to bring property, car buyers into tax net

            https://www.zameen.com/news/fbr-looking-to-bring-property-car-buyers-into-tax-net.html

            "Lahore: The Federal Board of Revenue (FBR) is making concerted efforts to expand the tax net to people who bought properties worth more than PKR 3 million, and cars worth more than PKR 2 million, a news source reported. Notices have been sent to people falling in the category from DHA, Gulberg, Model Town, and Cantonment.

            FBR has given a 15-day deadline for the submission of property details to the people who have been sent notices. These are the people who bought properties between 2015 and 2017. 100 notices were issued this time. Action will be taken against people who do not submit the details of property and cars bought in the three years.

            Previously, FBR had sent notices to another 300 people in these areas as well and they had been asked to submit the details of their properties and cars by 14th December, 2018."
            --------------------
              146 days ago 

              Mohammad sha..
              (44 posts)
              Latest is that malik saab is on ecl list .more down fall of bahria and its investors.
                144 days ago 

                Imtiaz
                (921 posts)
                Off-topic in the context of currency devaluation, but

                As an affectee of the corrupt system, I/we had wished, we had seen long ago the corrupt not on the ECL but behind the prison CELL. Be it Zardari, Nawaz, Shahbaz, Tareen, Elahi, Aleem, Aleema etc. + all corrupt across all institutes and in our society. The accountability as of now is a big joke with prime accuse of Takhth Pari land hand over Pervaiz Elahi is the Speaker of the Punjab Assembly.


                Anyways, let me share the very recent masterpiece of the 'accountability bureau'

                ----------
                Govt appoints 'dead man' in NAB reference as DRAP head
                Dec 28, 2018

                https://tinyurl.com/y7gymd8u

                "The federal government on Thursday appointed Sheikh Akhtar Hussain, who had claimed to be dead in a National Accountability Bureau (NAB) reference against him, as the head of the Drug Regulatory Authority of Pakistan (DRAP)"
                ----------

                Handcuff the dead and appoint the living dead!!

                I sincerely wish things get improve this time. However, expecting free and fair trial from a messed up NAB is a big disappointment in the making ...
                  144 days ago 

                  Sheikh_007
                  (719 posts)
                  PKR seems to be getting stable now, is there any further PKR depreciation expected ?
                    133 days ago 

                    Imtiaz
                    (921 posts)
                    Its a tragedy that PKR has seen its worst in the last 12 months or so that even it being stable for 6 odd weeks sounds good enough! Altough it has fallen by a few paisas (20 paisas approx) in those 6 weeks.

                    I wish USD gets a reversal against the PKR but that sounds like a hard challenge for the time being. Relative stability is mainly due to the loans from KSA/UAE to provide the breathing space for maintaining the balance of payments. As soon as we are in serious talks with the IMF PKR will tremble. IMF has been insistent on 145 to 150 PKR. State-bank is not autonomous any more and it needs to consult the Govt. before setting exchange rate so we may see intervention to keep PKR artificially hiked like Ishaq Dar did (borrowing more USDs) but it fore backs later.

                    'Rupee could easily settle at 150 in next six months'

                    https://tribune.com.pk/story/1862966/2-rupee-easily-settle-150-next-six-months/

                    IMF suggests higher interest rate, rupee depreciation

                    https://tribune.com.pk/story/1817743/2-imf-suggests-higher-interest-rate-rupee-depreciation/

                    -----------------
                    More alarming are following facts that do not reflect optimistic views for PKR & economy in the foreseeable future.

                    "We need to find an alternative solution to this rather than taking aid from different countries. The government is not curing the disease, but hiding the symptoms. The results of devaluing rupee are not good. Despite a 30 percent devaluation of the rupee, our exports are still on the decline,” Saleem had said."

                    "He said that the $1bn given by Saudi Arabia was spent within 16 days."

                    "How long will the country be run on loans? There are interests not friendships between the states, we should know that there are no free lunches," he said.

                    Dr Saleem said that Pakistan *received loan on 2.8 percent interest rate from the UAE*, and on *3 percent from Saudi Arabia*."

                    https://www.geo.tv/latest/224255-pm-imran-met-with-company-which-won-bid-for-mohmand-dam-on-china-visit-reveals-dr-saleem?fbclid=IwAR3cLOSNWT8b0W0x7LWqYgAS7hcFrBRiE_mdQx6AhyjxnCbbOKbFfZVFl9E

                    https://www.geo.tv/latest/224086-farrukh-saleem-reveals-he-regularly-attended-pm-house-meetings-till-dec-24
                    -----------------
                      133 days ago 

                      Shahbaz Khan
                      (23 posts)
                      When raw material used in imports are 60% imported then by devaluation even you can not raise exports because cost of doing business also increase .
                        132 days ago 

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