Mr. Syed Hassan Farid Khan Chariman ALM group of companies met with the
CEO TDAP, Mr. Muhammad Zubair Motiwala in the meeting, policy matters of
Precious Metal Mining and Export were discussed.
It was discussed to make the policy investor friendly for international investors
in this industry. Furthermore, it was also proposed to set up state of the art
refineries in Pakistan.
On the topic of export, Mr. Hassan Farid highlighted the importance of exporting
of the precious metals and to earn revenue from enhancing these exports and
bringing it at par with other countries.
It was agreed mutually to make a better policy for this industry. In this regard,
ALM Group of Companies will provide policy proposals to C.E.O TDAP to make it
export friendly.
Moreover, the difference between the inter-bank exchange rate vs the open
market is also hurting this cause. Mainly due to this, there is a lot of illegal
smuggling of precious metals which is hurting our economy.
Mr. Hassan Farid suggested the solution of making the exchange rate of dollar
equal to the open market, since the inter-bank and open market dollar rate is
not the same, we have lost exports of millions of dollars in the last two months
Mr. Motiwala agreed that there is a need of change in policy matter and
promised, and promised to put his weight behind the drive of making precious
metal mining and export as a national cause for making Pakistan earn
desperately needed foreign exchange.
