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The mistakes of the past are being repeated according to Dr. Mian. The reliance has continued to be on external borrowings, with IMF support and maintenance of an over-valued Rupee which severely hampered exports. Today Pakistan’s debt has the lowest maturity among peer countries. As a result, inflows continue to be short-term with maturities in the 3 -12 month range. Of the foreign investment of US$2.25 Billion only US$24 Million went towards the longer term Pakistan Investment Bonds (PIBs)
By Salman Siddiqui The PTI government in consultation with the State Bank of Pakistan (SBP) is considering relocating governments’ deposits worth Rs1.9 trillion from commercial banks...