Adani has 22 times more wealth than Ambani 16 timesGautam Adani’s wealth alone is 22 times more than Pakistan’s foreign exchange reserves. Mukesh Ambani’s wealth is 16 times more than Pakistan’s foreign exchange reserves.
Adani and Ambani are undoubtedly among the richest people in the world. In terms of wealth, Adani is at number three in the world. Today there is no reason to compare Ambani-Adani’s wealth with Pakistan’s foreign exchange reserves. Pakistan’s foreign exchange reserves are currently in discussion.
In a negative sense, not in a positive sense. Pakistan’s foreign exchange reserves are only enough to cover three weeks’ worth of imports. It shows the condition of Pakistan’s economy.
According to the Forbes Real Time Billionaires List, Gautam Adani has a net worth of $126.8 billion. Meanwhile, Mukesh Ambani has a net worth of $91.4 billion. It ranks eighth in the world in terms of assets.
Will have to borrow to repay the loan
According to Pakistani media site Dawn, Pakistan’s foreign exchange reserves were used to repay external debt. Due to this huge fall in currency reserves, the government is unable to repay its foreign debt. Pakistan will also have to take loans from its friendly countries for the purpose of repaying its foreign debt. Pakistan now has only three days of imports left.
Foreign exchange reserves are at the lowest level of 8 years
Pakistan has reached a record low in foreign exchange reserves in eight years. Although many efforts have been made to save the economy from disintegration, but this is the present situation.
The reserves of the State Bank of Pakistan (SBP) decreased to $5.576 billion in the week ending December 2022. In January 2022 it was $ 16.6 billion. As a result, Pakistan’s foreign exchange reserves were reduced by $11 billion in a year.
There is not one crisis, there are many
Despite several attempts to resume talks with the IMF, a new tranche was not released. The Pakistani currency has already depreciated significantly against the dollar.
Pakistan has also experienced high inflation for decades. Apart from this, it is also facing political and energy crisis. China and Saudi Arabia had previously provided financial aid to Pakistan.
These countries need IMF approval to move forward, but analysts say they are stuck until Pakistan gives its nod.
Thousands of containers stuck at Karachi Port
Thousands of shipping containers are stuck at Pakistan’s Karachi port. They are stuck because banks are unable to guarantee foreign exchange payments for them.
These containers also hold perishable food items and medical equipment. Paying for goods such as medicine, food and energy has become a major concern for Pakistan.
Adani earned as much money in Pak stock market in one year
The comparison of Gautam Adani’s wealth and the companies listed in Pakistan’s stock market is also interesting. There is more amount on Pakistani stock market than Gautam Adani’s earning in 2022.
Gautam Adani’s earning in 2022 is more than the stock exchange companies of Pakistan. Around $30 billion is the market capitalization of Pakistan Stock Exchange. At the same time, according to Bloomberg’s Billionaire Index, Adani’s wealth has increased by $ 39.9 billion this year.