Dollar’s actual price Rs250, says Malik Bostan

KARACHI: President Forex Association of Pakistan Malik Bostan on Thursday said the actual price of dollar in Pakistan was up to Rs250/ dollar, Bol News reported.

Addressing media, Malik Bostan said the credit of dollar’s losing strength went to the army chief, as he launched a crackdown on the black mafia on their demand. Hence, it reduced dollar’s value from Rs235 to between Rs305 and Rs308, he said.

The forex association president said the entire nation was in despair because of the current economic situation. He said they should do away with big notes like India. “We have examples of India and China before us who eliminated big currency notes.

He said they had to get rid of those who took free electricity and petrol. The effects of the decrease in the value of the dollar would be transferred to the people, he said.

Malik Bostan said it was desired that Pakistan would stand on its feet as soon as possible.

Shakeel Ramey said the government should not leave the private sector to decide rate of dollar. It should never be said that the market would decide it, because the market would increase the value of the dollar, he said.

“Insha Allah the dollar will come down. Hoarding happens when the government is weak. The government brought down the mafia immediately,” he said.