The Pakistan Business Council has claimed that around 900 billion rupees($5.3 billion) are stashed outside banks by people in the country, leadingto speculation in the dollar and gold markets.
In a statement, the Pakistan Business Council stated that there is anincreasing trend among overseas Pakistanis to send currency to Pakistanthrough remittances. The restrictions on income have also been liftedbefore time, resulting in increased pressure on the Pakistani currency.
The Pakistan Business Council mentioned that the cotton crop in the countryis doing well. After the ban on India’s rice exports, there is an increaseddemand for Pakistani rice from India. This could lead to an exchange of upto three billion dollars by exporting it.
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The plea highlights the need for stronger regulatory measures to preventcapital flight and promote economic stability in Pakistan. It suggests thataddressing the issues related to remittances and trade balance can helpalleviate the pressures on the Pakistani currency and contribute to thecountry’s economic growth
