This refers to the news report ‘Forex reserves fall to $18.240 bln’ (Mar 16). If the authorities concerned do not come up with a perfect strategy to cope with the current scenario, reserves will keep falling on a weekly basis. The free reserves of the State Bank now stand at $12.126 billion – only sufficient to cover two-and-a-half months of imports.
With the continued downward trend, the nation will soon be knocking at the doors of the IMF. The government must take remedial measures to take our economy out of quagmire.
Arshad
Karachi
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