Pakistan Carpet Manufacturers and Exporters Association (PCMEA) while congratulating Prime Minister Shahbaz Sharif and Finance Minister Ishaq Dar on signing an agreement with the IMF said that the government is requested to keep the dollar at a stable level as exports are adversely affected due to fluctuations in the dollar.
These views were expressed by senior vice-chairman Usman Ashraf, central leader Abdul Latif Malik, chairperson of Carpet Training Institute Ejazur Rehman, senior member Riaz Ahmed, Saeed Khan, Shahid Hasan Sheikh, Kamran Razi and Tahir Abbas in a joint statement issued on Sunday.
They said that due to the uncertainty of the dollar, exporters are reluctant to do foreign deals. They further said that the government should focus on stabilizing the foreign exchange reserves by bringing in foreign exchange through exports and remittances to give direction to the faltering economy.
The PCMEA said that due to the dollar not being stable at one level, there are difficulties in importing raw materials and signing the contract with the foreign buyers at a certain rate and the next day the situation is completely different due to the fluctuations of the dollar, which the exporters have to bear the entire burden.
