Islamabad, August 01, 2022 (PPI-OT):The Pakistan Economy Watch (PEW) on Monday said the war between Russia and Ukraine is actually a war between Russia and the United States, in which the defeat of the United States and its allies is their destiny. The United States and the European Union imposed economic sanctions on Russia to destroy its economy, but this started to destroy their own economies, it said. Russia’s income increased dramatically in the wake of the war, which is covering its war expenses and resulted in substantial savings, said Brig. (retd) Aslam Khan, Chairman PEW.
In a statement issued here, he said that in the past, the rulers who gave an opinion or tried to trade oil in other currency instead of dollars, were made an example and the economy in such countries was destroyed. But now the countries that were not ready to annoy the US are also trading oil in other currencies which could be the end of the US hegemony to the relief of the world.
Aslam Khan said that the real strength of the US dollar is hidden in the oil trade and if the buying and selling of oil in other currencies increases, it will be the last nail in the dollar’s coffin. He said that amid the political struggle in Pakistan, the three major international credit rating agencies have downgraded Pakistan’s rating, which is unfortunate.
Because of this development, it will be difficult for Pakistan to get loans from the international bond market, which will affect the public, he added. Even in these circumstances, no effective policy action is being taken by the government, while a ban on imports has also been abolished which shows the seriousness of the rulers in saving the country. Currently, no international organization or country is taking Pakistan seriously because of increasing political tension and record mismanagement, he said.
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