Former President of Islamabad Chamber of Commerce and Industry (ICCI) Dr. Shahid Rasheed Butt on Sunday said the concern expressed by opposition leaders over the deteriorating economy is nothing but crocodile tears.
The opposition would have started negotiations with the government to find a solution to the economic mess if they had any inclination for this, he added.
Shahid Rasheed Butt said that improving the economy and giving relief to the people is not on the agenda of opposition leaders.
He said that the opposition is misleading the people and disturbing the government by showing a new drama every day, which is further affecting the economy.
The drama of dissolving the assemblies has failed and now a new issue is being sought to create problems.
He said that Pakistan’s foreign exchange reserves are decreasing, and businesses are being affected by unnecessary trade restrictions.
Black marketing and smuggling of dollars is increasing as the smugglers are using land and air routes and actions against them are unsatisfactory.
As long as the difference between the official rate and the market rate of the dollar remains it will continue to be smuggled, the most profitable market of which is Afghanistan.
In the Afghan market a dollar can fetch as much as Rs20 profit which is enough to attract smugglers, he observed.
Shahid Rashid Butt said that due to the government’s policy on the dollar, there has been a drastic reduction in remittances because Pakistanis living abroad are also using illegal means to send money.
Currently, goods worth five billion dollars are stuck at the port while LCs worth the same amount are awaiting a positive response from authorities.
