Categories: Economy

US Senate’s intent to probe Pak role in Taliban comeback worries business community

<p>
Pakistan’s business community is worried as the US Senate introduced a bill seeking investigation of Islamabad’s role in the Taliban comeback in Afghanistan.</p>
<p>
According to <a href="https://www.dawn.com/news/1646131">a report in Dawn</a>, “The current handling of affairs by the government, particularly after the Taliban takeover in Afghanistan, has perturbed the private sector.”</p>
<p>
The report said that the captains of several companies “are particularly uncomfortable over the growing critical voices against Pakistan and the threat of a probable backlash from the West and the East for aligning too closely with an ultra-conservative regime next door.”</p>
<p>
<strong>Also read: <a href="https://www.indianarrative.com/opinion-news/cash-strapped-pakistan-s-bid-for-bn-imf-loan-may-face-hurdles-116945.html">Cash strapped Pakistan's bid for $1 bn IMF loan may face hurdles</a></strong></p>
<p>
Meanwhile, Pakistani Rupee has been losing its sheen against the US dollar. The Pakistani rupee, on July 1 was below 160 to a dollar. Today it has breached the 170 to a dollar mark—in just three months.</p>
<p>
<a href="https://www.khaleejtimes.com/business/markets/pak-rupee-free-fall-continues">Khaleej Times</a> noted that several economists have opined that the widening current account deficit will continue to weigh on the country’s currency amid rising political and economic uncertainties due to the turmoil in Afghanistan. This will have a further impact on the Pakistani currency.</p>
<p>
Fitch Ratings in its report said, "Our expectation for the currency to weaken further is based on Pakistan's worsening terms of trade, tighter US monetary policy, alongside the flow of US dollars out of Pakistan and into Afghanistan."</p>

IN Bureau

Recent Posts

Paank report reveals 128 enforced disappearances, 27 killings in Balochistan, urges EU to reassess Pakistan’s GSP+ Status

The human rights organisation of the Baloch National Movement (BNM), Paank, has published its most…

48 minutes ago

Israel says it killed Iran’s senior-most military official Ali Shadmani

The Israel Defence Forces (IDF) on Tuesday claimed that it has killed Iran's senior-most military…

1 hour ago

“Indian students in Tehran moved out of city”: MEA asks other Indians in Iran’s capital city to leave

Amid escalating conflict between Iran and Israel, the Ministry of External Affairs (MEA) on Tuesday…

3 hours ago

Amid Israel-Iran tensions, Indian Embassy asks Indians in Tehran to provide contact details and location

Amid the escalating tensions between Israel and Iran, Indian Embassy in Iran has asked all…

4 hours ago

“Israel has right to defend itself, Iran source of terror,” says G7 statement as Iran-Israel conflict enters 5th day

Ahead of the critical G7 Summit meeting in Canada, leaders of the forum have issued…

5 hours ago

India well positioned to regain strong export growth as global trade conditions likely to stabilize in H2 of 2025: Experts

India's trade performance in May 2025 has shown strength and stability, despite uncertain global conditions,…

6 hours ago