Pakistani rupee strengthened against dollar due to COAS statement: Faisal Vawda
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Former federal minister Faisal Vawda attributes the appreciation of the Pakistani currency against the US dollar to the military leadership, particularly Chief of Army Staff (COAS) General Asim Munir. Speaking on Geo News' program 'Capital Talk,' Vawda expressed his appreciation and noted that it's a momentous occasion for Pakistan. He pointed out that the value of the dollar started to decline following directives issued by the army chief to DG ISI and DG C.
Thanks to General Munir's efforts, the local currency has strengthened by Rs15 to Rs16, and Vawda anticipates a further drop of Rs10 against the US dollar in the coming days. Notably, Vawda criticized the State Bank of Pakistan (SBP) for its lack of involvement in stabilizing the rupee, describing it as ineffectual in addressing the situation.
It's worth highlighting that the Pakistani rupee continues to gain strength against the dollar, particularly in the last two days, thanks to authorities cracking down on currency hoarders and smugglers. When asked about the steps taken by authorities to address the crisis, Vawda explained that they had implemented regulations and controls on exchange companies and taken action against those involved in currency smuggling.
Vawda also raised concerns about corrupt political leaders, numbering at 18, in Pakistan. He argued that various political parties were causing harm to the nation and the judiciary. He predicted that the outgoing apex court Chief Justice Umar Ata Bandial would make significant decisions, while the upcoming Chief Justice, known for his integrity, would not harm the people.
During the show, Vawda accused these political parties of being responsible for the country's destruction and stated that eliminating them would pave the way for a prosperous Pakistan, one that he likened to "producing gold."
