There was, a few weeks ago, a rumour making the rounds that Pakistan had pledged its gold reserves. For those that do not know what that means, it is when a government is in such a deep crisis that it promises its gold reserves as collateral in exchange for foreign currency when a country’s coffers are entirely depleted. The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
Pakistan’s gold is going nowhere for now
The SBP has rejected unsubstantiated claims that they were about to pledge their gold reserves, but is that even an option?
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5 COMMENTS
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Very Informative.
Now, Gold is the currency for International trades.
SBP should show the gold to public. It is my claim that SBP doesn’t have any gold in custody. It is pledged sever.decades.ago to USA. And USA will never give it back even if SBP claims release.
Thanks for the good information, I like it very much. Nothing is really impossible for you. your article is very good.
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if, gold is the currency for international trades. then, dollar what do ??