ISLAMABAD: Caretaker Commerce Minister Gohar Ejaz suggested that dollar price of Rs 300 could potentially decrease to Rs 250 by reviving export industry, which according to him will mitigate inflation.

Addressing press conference here following meeting of Special Investment Facilitation Council, he cited ‘supply chain shortages’ as significant driver of inflation in country. He stressed need to boost exports and generate employment opportunities. SIFC was informed about essential nature of prioritising revival of industries.

He underlined that detailed talks covering raw material supply chains, energy pricing, and gas availability were also held during SIFC’s meeting.

However, he insisted on importance of market-based approaches, cautioning against excessive spending without corresponding earnings.

Caretaker Finance Minister Shamshad Akhtar said that interim government has adopted holistic approach to address economic and develop roadmap with an aim to augment macroeconomic management in country.

She said that government was reinforcing fiscal stability and fiscal coordination with monetary policy as well as external policy, which she said was anchor of macroeconomic management.

Shamshad Akhtar said interim setup wanted to review economy and for that they were working to “Define steps to jumpstart economy.” Efforts to enhance social safety net during period on adjustment reforms programme implemented underway.

She said strategy would also help enhance depth and breadth of capital market. Government securities to be floated at Pakistan Stock Exchange so their maturity is stretched and common man can invest in government securities.

Published in The Daily National Courier, September, 09 2023

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