Decrease of US dollar value causing great financial losses of Sialkot exporters


Islamabad: The decrease of value of US Dollar was causing great financial losses of billions of rupees to Sialkot exporters who had fixed their business deals with their foreign customers in US Dollar (Rs. 108 in Pak Rupee) earlier before the devaluation of the Dollars.

Now the foreign customers were making payments in the US Dollar to their business partners in Sialkot-Pakistan: where: the banks were giving the rate of Rs. 96 against one US $. This situation was causing great financial losses of billions of rupees to the Sialkot exporters. Senior Vice President of Sialkot Chamber of Commerce and Industry (SCCI) Mian Muhammad Anwar disclosed this while talking to the newsmen at SCCI on Saturday.

He said that the strengthening of the Pak Rupee against US Dollar was a very good and healthy sign to boost the national economy: but at the same time depreciation in the value of US Dollar was causing great financial losses of billions of rupees to the Sialkot exporters as well. Mian Muhammad Anwar asked the government to make some effective and positive measure to heal the wounds of Sialkot exporters: as the wounds of the energy crisis-beaten Sialkot exporters still remain green.

SVP added that there was no decrease in the prices of the imported goods (especially the raw materials) despite the decline in the US Dollar prices: due to which the Sialkot exporters were also suffering from great financial losses. He urged the federal government to ensure the early reduction in the prices of the imported goods (the raw materials) to facilitate the business community: besides: reducing the POL prices: utility bills and daily used commodities: in this regard.

He urged the government to also ensure the early reaching of the goods impacts and benefits of the devaluation in Dollar prices to the common people as well: who still have been lying deprived of the benefits of the strengthening in the value of the Pak Rupee.

Leave a Reply