Pakistan's rupee is plummeting, dealing a blow to the nation's economy already grappling with inflation. Chief of Army Staff Gen Asim Munir has pledged to address the exchange rate issue and bring currency exchanges under taxation. The official and open market exchange rate gap, exacerbated by a thriving black market, poses a critical challenge.

Gen Asim expressed these commitments during discussions with the business community in Lahore, focusing on economic concerns. He emphasized the need to tax money exchanges to ensure transparency in dollar exchange rates. Notably, the IMF's condition of letting the market determine exchange rates has contributed to the rupee's depreciation.

Furthermore, Gen Asim highlighted the Special Investment Facilitation Council's role in attracting substantial investments from countries like Saudi Arabia, the UAE, and Kuwait. Task forces have also been formed to enhance economic decision-making.

Businessmen are calling for reduced income and sales tax rates on electricity bills and a pragmatic approach to fuel adjustment charges.

They are also urging political parties to sign a 'charter of economy' ahead of upcoming elections. To expand the tax base, they propose incentivizing the transition of the grey economy into the formal sector, as its current unincorporated status hinders tax base expansion.