Downslide of dollar not to affect Pakistani exports

Karachi: Pasban Pakistan Director Public Issues Committee Abubakar Usman has said that Pakistani exports would not be affected even if the US dollar went below Rs 98. In a statement here, he said the statement of Pakistani Finance Minister that exports may halt if the US dollar fell below Rs98 is based on wrong assumptions. It seems that government in not interested to appreciate the value of Pak Rupee and decreased inflation and price hike. He said if the dollars stays below Rs98 price hike would also decease at local level and rates of imported goods come down.

He said the depreciation of the US dollar would also lessen the foreign loans of Pakistan and it would stabilize the national economy. He said the Pakistani exports would not be affected if the dollar falls below Rs98 level. He reminded that the record shows that in 2011 when the US dollar was at Rs85 Pakistan exports were at $25bn. He said in 2012-13 when the dollar was at Rs94-98 range the exports hit $24bn.

He said as per a report from July 2013 to February 2014 when the dollar was at Rs109, the exports were at $17bn. These figures show that the Pakistani exports were being affected not due to the rate of dollar but the wrong policies of the government. He said exports were affected due to load shedding of electricity and gas and rise in their tariffs and delay in payment of exporters’ refund claims, as this delay discourages exporters. The government should review the export policies and facilitate Pakistani traders and exporters. He said the rise in exports would increase foreign exchange reserves and also help in bettering rating of Pakistan at international level. It would encourage foreign investors coming to Pakistan, boosting its economy and creating more job opportunities.

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