Pakistan's economic woes
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Pakistan&rsquo;s business community is worried as the US Senate introduced a bill seeking investigation of Islamabad&rsquo;s role in the Taliban comeback in Afghanistan.</p>
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According to <a href="https://www.dawn.com/news/1646131">a report in Dawn</a>, &ldquo;The current handling of affairs by the government, particularly after the Taliban takeover in Afghanistan, has perturbed the private sector.&rdquo;</p>
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The report said that the captains of several companies &ldquo;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.&rdquo;</p>
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<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&#39;s bid for $1 bn IMF loan may face hurdles</a></strong></p>
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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&mdash;in just three months.</p>
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<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&rsquo;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>
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Fitch Ratings in its report said, &quot;Our expectation for the currency to weaken further is based on Pakistan&#39;s worsening terms of trade, tighter US monetary policy, alongside the flow of US dollars out of Pakistan and into Afghanistan.&quot;</p>
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