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Tuesday, July 16, 2024

Mufti Usmani calls hoarding of Dollar a sin, #BoycottDollar becomes top trend in Pakistan

News Desk |

Mufti Taqi Usmani, the revered Islamic cleric, has called out people who are deliberately involved in the depreciation of the value of Pakistani rupee. Mufti Taqi Usmani in his latest statement expressed that hoarding dollars to earn profit and manipulating to increase its value is a grave sin and is a disservice and disloyalty to the country.

Mufti Usmani narrated a Hadith in which those involved in the hoarding are cursed by Allah. The unabated plunge in depreciation of the value of Pakistani Rupee against US Dollar in the financial market is a worrying phenomenon that is exacerbating the economic crisis in the country.

Read more: Rupee hits historic low against Dollar

Hence in the wake of current Rupee-to-Dollar disparity, the people of Pakistan have initiated a campaign on social media calling to boycott the US Dollar to stabilize the market value of Rupee. The Netizens are encouraging the people to sell off their Dollars in the market that will automatically pull down its demand and increase its supply.



They are also advising people to cut down their expenditures on buying imported goods and instead prefer buying home-made products. This will help strengthen rupee against the dollar as it will pull down the demand for imported goods and will help expand the local industry which is the need of the hour. ‘Made in Pakistan’ trend is gaining momentum on social media.



Senior journalists, including Zarrar Khoro and Ansar Abbasi, have taken part in this campaign as well. The participants of the social media campaign are quoting the examples of how Turkish people unanimously stabilized Lira against Dollar when it touched its all-time lowest rate to save the economy. The protestors on the streets of Turkey burnt the 2-meter long Dollar note. Several others followed and carried on with the act to save the economy.