Tuesday July 16, 2019
Home Uncategorized Instability i...

Instability in global economy makes Pakistan vulnerable: Daily

0
//

By NewsGram Staff Writer

Islamabad: A leading Pakistan daily said that the sharp swings on the stock market along with pressure on rupee is a reminder that Pakistan is still vulnerable to instability in the global economy, and added that “it is best to be prepared.”

dawn_9830101313831216671An editorial “Financial market gyrations” published in the Dawn on Wednesday said that for the past one year at least, a series of economic crisis have been roiling the global economy to which “we in Pakistan have been little more than spectators.”

“But this week, the sharp volatilities could return very quickly since the crisis in the international markets is far from over.” The editorial said that the exchange rate on the other hand is continuing to feel the stress.

As per the editorial, as a first step, the government should allow the rupee to find its own value. “Investing too much importance in a strong currency is far too old-fashioned a way to view the exchange rate.”

It went on to say that the last “such bail-out following 2008 had to be hastily arranged and was of doubtful merit.”

“It would be better this time, if recourse to public funds should become necessary to prevent systemic risk, for strong guidelines to be in place for transparency as well as to ensure that the funds are not appropriated by the big brokers,” the daily said.

economy

The editorial noted that the sharp volatilities roiling the global markets are escalating and “it would be a grave mistake to seek solace in the notion that Pakistan will remain insulated from these developments”.

“Nobody knows where the volatility will end, and nobody expects that the government can do much to keep it from impacting the country. But a few preparatory steps can go a long way to ensure that the government works to safeguard the public interest should matters deteriorate, rather than have its actions dictated to it in the thick of the crisis by a small cabal of brokers,” it added.

Next Story

Pakistani Doctors Blame Quacks for Alarming Rise in HIV Cases: Report

Pakistan was considered a country of low HIV prevalence for long, but the disease is expanding at an alarming rate with about 20,000 new HIV cases reported in 2017 alone, according to the UN

0
HIV
Nearly 40 individual HPV types linked to HIV infection. Pixabay

The Pakistan Medical Association (PMA) has blamed quack doctors practicing without training and professional certification for an alarming rise in the number of HIV positive patients in the country, the media reported on Wednesday.

The doctors associated with the PMA said that the quacks, especially fake dentists, spread the virus by using instruments that were not sterilized, adding that despite free-of-cost availability of life-saving antiretroviral drugs at government hospitals, mortality ratio among patients carrying the virus was also increasing.

An alarming surge in HIV cases has been witnessed in five districts of Pakistan’s Punjab province, with 70 to 90 cases being reported monthly at the main government health facility in Faisalabad city, Dawn News reported.

Earlier this month, an international team of experts from the World Health Organization kicked off an investigation into the sudden HIV outbreak in Pakistan’s Sindh province after over 700 people were diagnosed with the virus in a matter of weeks, most of them were children.

HIV
School girls light candles in the shape of a ribbon during a HIV/AIDS awareness campaign ahead of World Aids Day, in Ahmedabad, India, Nov. 30, 2016. (VOA)

Following the outbreak, authorities launched a crackdown on unqualified doctors as well as illegal blood banks and laboratories said to be involved in spreading the disease. At least 17 quack doctors were arrested and more than 70 clinics in Larkana district were shut down, according to Xinhua news agency.

According to the PMA, over 600,000 quacks are currently practicing in the country with more than 80,000 based in Punjab province alone.

Also Read- Canon Doing Research and Feasibility Studies to Explore the Possibility of Manufacturing its Products in India

The association demanded the government to make all-out efforts to stop the menace of quackery in the country.

Pakistan was considered a country of low HIV prevalence for long, but the disease is expanding at an alarming rate with about 20,000 new HIV cases reported in 2017 alone, according to the UN. (IANS)