February 18, 2019
Saudi Crown Prince Muhammad bin Salman visits Pakistan
Islamabad is hoping to attract oodles of investmenCONTINUE READING
Money matters, always. Whether we talk about old days or the current days we might see money has always been treated previously. It makes people enemies and friends within seconds. As the dollar rate has been increasing gradually, the lives of the common people are struggling. Increase in the dollar means devaluation in our own currency which is not good news to anybody. Local businesses, small retailers, schools, hospitals, working people are affected more.
They all are facing this challenge only because of the increase in Dollar rate which was 144 last year facing an increase of about 11 percent. A lot of jewelry shops are winding up as their business has become too slow for them to recover. The government says it is trying to tackle this situation as it directly affects the economic stability of the country.
The people engaged in import-export business are facing true loss as the importers stated that when government devalues rupee their product cost automatically increases and they have to pay more than they have earned which results in them in a loss. They plead the government to take some notice on their condition, being a reputable citizen they have the right to speak.
The wholesale market explained their struggle while importing the stuff, they said it’s not going to work like this. In terms of running a business, we must gain some profit but we pay more than we learn to keep our business running and that is what considered important but if it goes like this, it’s soon going to fall apart. A man who has been running a jewelry business told his story of him selling his shop due to his increasing expenses and reducing the worth of money. More money means more struggle.
Pakistan being a developing country has a lot of issues to deal with. With the China Pakistan Economic Corridor (CPEC) in full swing, we can expect the good days to come soon. But, we must have to deal with various hardships because our lifestyle starts progressing.