LAHORE – Despite the resumption of the IMF programme, the country is still suffering from a serious dollar shortage crisis, as the rupee has cumulatively fallen by more than 4 percent against the greenback during this week, aggravating macroeconomic indicators amidst catastrophic flooding in Pakistan.
This was stated by FPCCI former president and BMP Chairman Mian Anjum Nisar, warning that the fear of default is not yet over, however, it has been averted in the near-term while the medium-term risk still persisted, as the cost of damage caused by the floods has surpassed the IMF loan disbursement. He said though the IMF program is finally back, yet the confidence of the investors is not restored, as the economic concerns in the mind of market participants have not ended due to multiple reasons. He said that the sorrows of the trade and industry in terms of high inflation, loss in employment, and lower profitability are…
