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Raja Bashir
( 14 posts )

[No reply]
Recently, Russia instigated a war with OPEC+ countries over oil production as the COVID-19 started to spread globally and oil consumption fell. After frequent negotiations between Russia, Saudi Arabia and America, it appears now that the oil-producing giants have come to a consensus on cutting down their oil production. However, the story does not end here.

It is expected that the reduction in oil production would affect the value of dollar and consequently, the dollar remittances from overseas Pakistanis.

My questions are:

Will this affect the real estate sector and prices of construction material in the coming months?

Will the oil prices be also slashed or kept at the same level, and how will it impact Pakistan’s economy?

I know that the relation of oil production among global powers and its impact on Pakistani real estate is mediated by a multitude of factors and no clean and sharp assessment can be reached upon right now. Nonetheless, I am trying to understand how it will affect the sector I have my ‘Rozi Rotti’ attached to.

    391 days ago In Comments
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