In response to the decrease in foreign exchange reserves and the increase in the value of the dollar, the Islamabad Chamber of Commerce has said that they are concerned about the decrease in foreign exchange reserves and the high flight of the dollar.
In this regard, President of Islamabad Chamber of Commerce, Ahsan Zafar Bakhtawari, says that the foreign exchange reserves have decreased to the lowest level of 3.7 billion dollars, the dollar has exceeded 265 rupees, which is a reflection of Pakistan’s weak economy, Reserves create confidence among investors, he further said that due to the continuous decrease in foreign exchange reserves, the confidence of investors is being shaken, the government should take emergency measures to increase exports, bring remittances into the country through banking channels. To be encouraged, Ahs Zafar Bakhtawari emphasized the need to find out-of-the-box solutions to improve foreign exchange reserves.
Abnormal decline in the value of the rupee will bring a new wave of inflation, after the increase in interest rates, industrial activities will be affected as loans become more expensive, the State Bank had increased the interest rate to control inflation, the value of the rupee Deficits will frustrate efforts to control inflation, a depreciating rupee will make all imported goods more expensive, prices of locally produced goods will also rise, lower income groups It will be difficult to meet the daily expenses for
