Editorial

DAILY RISING RATE OF USD IS MAKING LIFE UN-BEARABLE TO ALL

Editorial 29th April 2018

 

The madness of the daily rising USD rate in the local market is making life unbearable to the entire population. It does not spare the working and un-working class. Something need to be done and done quickly to tame and reduce the speed in which the green paper is advancing. If not controlled, the majority will soon have nothing to talk about but ask for mercy for their own existence. Both the Ministry of Finance and the Central Bank have time and again come out with proposals and would be workable plan of action which have not made any mark if any. Arguments among some known economists is that the SSP must be empowered to be accepted in the regional market for cross border trade. IT might sound remote or un-workable but it is something which should be tried because it would reduce the reliance on the USD for internal and external trade. IF SSP is rated in the regional market, then the same would be used for import instead of USD. It sounds like a possible argument from the economic know-how and think-tanks. What remains now is to try and put it on the practical end and on the ground to save the situation. This should not be ignored. USD rate has surpassed the normal domestic rate requirements forcing basic and non-basic items to shot up or skyrocket. It has become an agony to think of going for family shopping or taking your loved one out for lunch or dinner. Many youth have turned to “siko” the local illicit drink due to the current economic hardship. They cannot afford the luxury of going to decent and modern joints. Not only the youth, even some middle and upper class occupants are not any better. Things are hard for everybody because of the current situation. This is the more reason(s) peace must be restored at all cost for economic growth and development.      

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