Prime Minister Shahid Khaqan Abbasi has ruled out a devaluation of the rupee
- "Devaluation is our option, theoretically, even though it should incentivize exports but in reality it doesn't"
- "So at this moment as I said devaluation is not on the table."
Soooo ... they're gonna devalue, right? :-D
Pakistan is facing twin deficits
- which are depleting FX reserves
- & impacting credit ratings
Elections are due next year, the government is looking to curb imports through tariffs and help boost local production.
