Govt working hard for rupee stability

Ready to facilitate manufacturers to create jobs, push exports

Our Correspondent August 30, 2022
Pakistan has fared well so far because of a supporting macroeconomic environment and the record high foreign currency reserves have supported stability in the foreign exchange market. PHOTO: FILE


Federal Minister for Industries and Production Syed Murtaza Mahmud has urged business community to play its role in economic development as the government is working hard for economic turnaround and rupee stability against the dollar.

In a meeting with Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Irfan Iqbal Sheikh, the minister stressed that the government was willing to facilitate local manufacturers to create employment opportunities and promote exports.

“The government wants to take the country forward by ensuring sustainable economic growth and obviously the role of private sector is crucial,” he said.

He called private sector the catalyst for economic growth and said the government would facilitate it in promoting business activities, which would help revive the economy. “Pakistan needs a big increase in exports to meet economic challenges and reduce pressure from its foreign exchange reserves.”

The minister also said that the government was working proactively for the swift development of small and medium enterprises (SMEs).

Speaking on the occasion, the FPCCI president highlighted the problems being faced by industrialists and SMEs. He discussed various suggestions for the revival of economy, utility stores, sick industrial units and encouraging industrialisation.

He reiterated that policies should not be announced in a vacuum without consulting the business, industry and trade community, as they were the real stakeholders in the economy.

Export potential of sectors like textile value addition, information technology, alternative energy, Halal food, tourism, agriculture, gems and jewellery was also highlighted.

Published in The Express Tribune, August 30th, 2022.

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