Efforts to overcome the economic crisis faced by the country have not borne fruit in the sixteen months of the previous coalition government. The country was saved from bankruptcy by signing a standby agreement with the IMF, but the expectations of halting the high flight of the dollar and increasing the value of the rupee have not been fulfilled, as expressed by the government, businessmen, and people involved in foreign exchange transactions.
Instead, the value of the dollar against the rupee has continued to depreciate both in the interbank and open markets. Dollars are not available for imports, causing the wheels of industry to grind to a halt. According to a report, due to the non-availability of dollars, Balochistan Wheel Limited and Satara Peroxide Limited have announced the closure of their plants. It should be noted that Balochistan Wheel manufactures steel wheels for small and large vehicles, trucks, buses, cars, and tractors. Sales of cars, buses, etc. have significantly declined, forcing them to halt production. On the other hand, a company with a large chemical manufacturing plant states that the plant will be closed for three weeks starting August 16 due to a shortage of raw materials.
In this context, the expectations of economic improvement from the caretaker government consisting of experts may prove to be true, and the process of economic recovery can start as soon as possible.