Monday March 20, 2023

Currency crisis

February 02, 2023

This refers to the letter ‘No more dollars’ (Febuary 1, 2023) by Engr Shahryar Khan Baseer. The writer makes a practical, if somewhat naive, proposal in asking the government to ban the sale and purchase of dollars by the public. Speculative trading in currency is the forte of the rich and influential, who have inroads into the corridors of power. It cannot take place without the blessing of the policymakers, notwithstanding its oversight by the State Bank and the Ministry of Finance.

The bottom line is that the country cannot be reformed unless there are sincere, honest and competent leaders who put national interest above self-interest. Hoping for any sensible regulations without this crucial element is pointless.

Shaista Anwar Kirmani