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Opinion

PARTLY FACETIOUS: The rupee-dollar parity

“What is so funny?” “I am sorry – it’s too funny for words.” Splutter. “Have a glass of water, calm...
10 Jul 2021

“What is so funny?”

“I am sorry – it’s too funny for words.” Splutter.

“Have a glass of water, calm down and tell me the joke – after my weekly shopping for which I spent 1000 rupees more than the week before I need something light to make me feel better.”

“The Governor State Bank of Pakistan said talks with the International Monetary Fund are going smoothly.”

“They probably are, perhaps.”

“Precisely, have you noticed the rupee dollar rate in recent days – a rate that to put it mildly……?”

“Interbank at 159.40 rupees to the dollar…ooops, The Khan is going to get mad again.”

“So far The Khan is too busy cutting ribbons but I reckon Shaukat Tarin may mention to him that the rate he used in the budget was 153 rupees to the dollar and each rupee lost vis-a-vis the dollar adds what? Around 100 billion rupees to our debt so by that logic 600 billion rupees have been added and…and…wait…its impact on our inflation which is already high…”

“The cabinet spokespersons are on record that claim inflation is due to the elite capture and cartels and…”

“Right, so that is how it will be explained to the Prime Minister you reckon?”

“Disorderly market conditions is what will be said to The Khan and those three words would evoke images of Nawaz Sharif eating pizza in London, Zardari sahib entering the assembly chambers amidst sustained clapping and…”

“The glass is still half full – there is no Maryam Nawaz in the assembly.”

“She reminds me of a passage from Shakespeare’s Macbeth: Life’s but a walking shadow, That struts and frets his hour upon the stage, And then is heard no more. It is a tale told by an idiot, full of sound and fury signifying nothing.”

“Sound and fury is common amongst all politicians…”

“Particularly the media handlers of all parties, and don’t forget Maryam Nawaz led the media cell when daddy was in the PM House.”

“Right, but you know Bilawal is a lot better at unnerving the Prime Minister, she makes news when she says things that anger some powerful…”

“Agreed, but she cited daddy’s name at least six times and mentioned that daddy called her the night before and…”

“As Shakespeare said signifying nothing because in politics you don’t have the reins till you have them.”

“Speaking of reins you can draw in the reins, hand over the reins, hold the reins, pull in the reins, rein back on, rein in…”

“I reckon she is at the rein in stage and that doesn’t lead to power.”

“Don’t be facetious.”

Copyright Business Recorder, 2021

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