THIS is with reference to the report “Rupee fall benefits expats’ families: Baqir” (Oct 22). Like many others, I was shocked to hear the statement of the governor of the State Bank of Pakistan (SBP) with regard to the fall of the rupee.

Instead of presenting a sombre and professional analysis of what at the time was a hopeless situation, he casually opined that with such a drastic devaluation, the families of expatriates would monetarily benefit immeasurably.

He, in fact, tried to find a silver lining in the dark cloud. Nevertheless, the nation stood totally disappointed by the ‘positive’ linkage he tried to find between the benefits of expats’ families and the dipping value of Pakistani currency vis-à-vis the United States dollar. Such illogical analysis by the holder of such a high office was simply surprising. The situation solicited a more thoughtful elaboration by him that given such a horrendous economic situation what remedial measures he was going to take to stop further deterioration.

But he looked satisfied after drawing such a parallel between the crashing of the rupee and the benefits that the families of expats would draw from the disaster.

It was obvious even to an average person that with the rupee losing worth, nothing good could be expected to happen. It was ironic that a person holding such a senior and crucial office treated the matter so casually and unprofessionally. It is high time some better and professional person was appointed to head the SBP.

Safir Siddiqui
Karachi

Published in Dawn, November 4th, 2021