Federal Minster for Finance and Revenue, Mr. Miftah Ismail, presided over a meeting with heads of all the major Exchange Companies of Pakistan at Finance Division on Saturday. Deputy Governor SBP and senior officers from Finance Division attended the meeting.
The meeting was called to review and ensure exchange rate stability in the country. At the outset, Finance Minister expressed firm resolve of the Government to ensure stability in the Forex market. He stated that Government is committed to take all possible measures to keep Pak rupee vis-à-vis the US Dollar stable without interfering into market mechanism.
Various proposals were presented by the heads of Exchange companies in this regard. It was proposed that the exchange companies should be facilitated to increase the flow of home remittances to Pakistan. A number of measures were also suggested to curb the outflow of foreign exchange from Pakistan through informal channels. In addition, some other concrete proposals/measures were submitted by the exchange companies to improve the foreign exchange position in Pakistan. The Exchange companies assured that if these measures are implemented, there will be appreciation and stability in the value of Pak rupee.
Finance Minister Mr. Miftah Ismail showed firm resolve of the Government to ensure the exchange rate stability in the country. He also assured the participants that all possible steps would be undertaken to protect and strengthen the economy of Pakistan that would result in improving the value of Pak rupee. He affirmed that the present government is determined to make Pakistan a prosperous and developed country.
