Former chairman of the Federal Board of Revenue (FBR), Syed Shabbar Zaidi, took to X, formerly Twitter to share his perspective on Pakistan's economic situation.
In a tweet posted on his account, @SShabbarZaidi, he expressed optimism regarding the nation's economic prospects and predicted a significant change in the exchange rate between the US Dollar (USD) and the Pakistani Rupee (Rs) by the end of the year.
Economy is very slowly taking a positive turn. $ reducing against Rs. Petrol prices down. It is sorry state that media & public not appreciating economic scene. Politics has always overwhelmed economics in Pakistan. However there has to be a balance. I see $ at 250 by year end.
— SyedShabbarZaidi (@SShabbarZaidi) October 16, 2023
Zaidi highlighted that the economy is gradually heading towards a positive trajectory.
He pointed out that the value of the US Dollar is decreasing when compared to the Pakistani Rupee, and petrol prices are on a downward trend.
Despite these indicators, Zaidi expressed disappointment that the media and the public have not been quick to acknowledge these positive developments.
He suggested that the dominance of politics over economics in Pakistan has played a significant role in shaping public perceptions.
In his post, Zaidi also made a prediction, stating that he foresees the US Dollar trading at 250 Pakistani Rupees by the end of the year.
This prediction has caught the attention of many, given his background and expertise in financial matters.
