LAHORE – Businessmen Panel for the Federation of Pakistan Chambers ofCommerce and Industry (FPCCI) on Saturday hoped that now Pakistan rupeewould get stable after increase in country’s foreign reserves.Panel Chairman Mian Anjum Nisar said in a media statement that the businesscommunity appreciated Prime Minister Imran Khan for his efforts to getsupport from the brotherly countries like Saudia Arabia and United ArabEmirates, and now country’s reserves were moving towards a comfortableposition.He mentioned that during the last few months, sudden depreciation in rupeehad put business community in great confusion, but now they hoped somestability would prevail in exchange rate which was need of the hour.Similarly Pakistan had recently received the third tranche of US$1 billionfrom Saudi Arabia and US$1 billion from the UAE, which was a good omen forcountry’s foreign reserves position. The chairman, however, urged thegovernment to also take effective measures to narrow down the currentaccount deficit.He was of the view that Pakistan would likely to able cross its exporttarget of $25 billion for the current fiscal year, citing that China wasalso extending a helping hand to assist Pakistan in boosting exports by $1billion through exports of Pakistani sugar and rice, while Qatar had alsolifted ban on rice export from Pakistan and these would definitely helpstrengthen country agriculture exports and increase the overall exportsvolume.About recent Finance Amendment Bill 2019 (Economic Reforms Package) hesaid, “The sentiments of business community have largely been positive andfelicitated the government for presenting a pro-business package.”
Pakistan gets 1 billion incentive from China
