Despite challenges, the comprehensive strategies implemented by the caretaker government have led to notable economic progress, evident through various indicators and recognized by both the business community and experts.
The business community and economic experts described the reduction in oil prices stability of the exchange rate and outstanding performance of pakistan stock exchange (PSX) as positive for the country’s economy.
Talking to APP, they said, the petrol price has come down from Rs 331.38 in January 2023 to Rs 267.34 now, showing a decrease of Rs.65 rupees, adding it would result in a decrease in the inflation rate; further strengthening the exchange rate and lead psx towards more positive performance, besides helping in promoting local market and external sectors of the economy.
President of Federation Pakistan Chamber of Commerce and Industry (FPCCI), Irfan Iqbal Sheikh told APP that the government had decided to give the benefit of the fall in international prices to the industry and the domestic consumers.
The President of FPCCI said that it will have a good impact on domestic industry including internal and external sectors.
Sheikh said that stability in the exchange rate, which has crossed the limit of Rs 300 and is now between Rs 280 and Rs285, is proof of the success of the government’s administrative measure.
He said that there has been an upward trend in the stock exchange for the last few months, which is pleasing.
The President said that the government needs to take more measures to give industry businesses a chance to grow in the country.
Talking to APP, President ICCI, Ahsan Zafar Bakhtawri said that the reduction in petrol prices will reduce inflation in the country and more buyers will come to the market. He said that the country’s economic situation was improving at present, which would benefit the common man including the business community.—APP
