Karachi : Faraz-ur-Rehman, Patron-in-Chief of the Pakistan Business Group (PBGO), has called for immediate steps to stabilize the Pakistani Rupee, which has seen significant depreciation, creating economic instability.
Speaking to the media, Faraz-ur-Rehman outlined key actions needed to strengthen the currency and restore market confidence:
Increase Exports and Remittances He emphasized providing incentives to exporters and facilitating overseas Pakistanis to send remittances through official banking channels. These steps, he said, would boost foreign exchange inflows. Reduce Import Dependency
Faraz proposed promoting local production of essential goods, particularly in agriculture and energy, to minimize reliance on costly imports.Mr. Faraz explained that Encourage Foreign Investment
The business leader suggested enhancing investor confidence by ensuring political stability, offering tax incentives, and simplifying processes for foreign direct investment (FDI).
Curb Speculative Trading
He called for strict regulation of currency markets to combat speculative trading, which he believes contributes to unnecessary exchange rate volatility.Mr.Faraz ul Rehman discribed Strengthen Foreign Reserves
Faraz recommended securing soft loans, grants, and partnerships with international financial institutions to bolster Pakistan’s foreign exchange reserves in the short term. IT Sector as a Game-Changer
He highlighted the potential of Pakistan’s IT sector in generating significant foreign exchange, urging the government to address barriers and facilitate digital exports and freelancer ?????????? ?? aded Debt Management
Faraz also proposed restructuring external debts, focusing on easing repayment schedules to relieve pressure on the country’s reserves while investing in growth-oriented sectors.
A stable currency is the cornerstone of economic progress. Collaborative efforts by the government and the business community are vital to address the ongoing challenges,” Faraz-ur-Rehman remarked.The PBGO leader reiterated the need for decisive action, stressing long-term reforms over short-term fixes to ensure sustainable economic growth.
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