KARACHI: With reference to foreign exchange reserves the government is in a bind regarding how it should meet the multiple challenges facing it. With no let-up in the present situation in sight, it is time people braced themselves for a tougher year ahead than the one they just endured. However, the government could rescue its economy by putting a complete ban on private currency dealers.

 According to sources the hard fact of the day is that the history wheel has been reversed in neighboring Afghanistan; where in the near past the US dollars were flooded by the American regime for taming Afghans and to meet the daily expenses of US forces fighting against Afghans. Those dollars were ultimately flowing towards Pakistan and the people were enjoying their best. Now the scenario is totally changed. After losing the arbitrary war in Afghanistan the American government instead of paying back the war compensation and repairing expenses for unlawful killing and bombing of the Afghan territories, the America frozen billions of dollars of legitimate reserves of the Afghan government deposited in American banks.

 This unethical attitude created a starvation-like situation under the Taliban regime that is demanding huge bulk of dollars by hook or by crook to run its daily affairs of running the government and feeding the people. In the past, Afghan citizens were freely trading even in Pak rupees across the border. But in the present circumstance, they are officially prohibited to use Pakistani rupees. Their utmost demand is to bring the US dollar into Afghanistan. Hence, the traders and general public are compelled to buy dollars even at the price of Rs255 per each. This is an alarming position for people in Pakistan and their government. Informed sources disclosed that the lust for dollars has first of all corrupted our currency dealers; who are involved in the smuggling of dollars to Afghanistan and earning windfall. Therefore, the government at first instance should ban all the businesses of currency dealers. Instead, all foreign exchange transactions must be done through the official banking system and strictly monitor its daily performances. All travelers should go through banks to get foreign exchange and the State Bank should release daily reports in this regard.  

Published in The Daily National Courier, December, 30 2022

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