Pakistonomy - Episode 127 - The Return of Ishaq Dar
Pakistonomy
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The FX Spread Scandal and the State Banks Opposed to Invest Again
In July we saw extreme shortages of foreign exchange reserves in parks and particularly dollars the month of July is, you know, I saw the tightest dollar situation that I've seen since 2007 eight somewhere around there. And then at the end of September, the banks run on a calendar year instead of the fiscal year so when they filed there, and they're all listed entities so they filed their results with the the stock market at the stock exchange. And we went to those results we stumbled across a little finding there and we saw that the banks seem to have made very, very large profits on their foreign exchange operation in the month of in the second quarter of the fiscalyear. So, that automatically
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