Reliable sources in the market are talking about a possible freeze on the dollar denominated accounts in Pakistan. The same was previously done by Nawaz government when Pakistan conducted nuclear tests. Similiar step is being forecasted to be taken by the government. Moreover, possible news are also circulating about possisble bank run on few Pakistan based banks.
These are all strong indicators of possible default of Pakistan under the able guidance of PPP. Analyst believe that without any major economic aid coming from any foreign supporter of Pakistan, Pakistan is surely going to face a default in the next few months.
Anyways, lets hope for the best.
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I’d also been hearing about possible locker seizures
I remember 2 years ago when I wanted to get US dollars from Ruppees (in Karachi). No one would give me more then 500 USD. I cannot even imagine how bad it is right now.
Well this turned out to be just a rumour. Rumours like this can become self fulfilling though so please exercise caution when repeating stuff like this. Funny thing is, my bank manager told me it was just a rumour too and then told me he was stashing his cash under the pillow as he doesn’t trust banks !!!! Now thats funny !
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