Govt maintaining exchange reserves amid flood crisis: Miftah

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Federal Minister for Finance and Revenue, Miftah Ismail said here on Wednesday that Pakistan has been trying to maintain an optimum level of foreign exchange reserves amid flood damages to ensure exchange-rate stability and control inflation.

During a meeting with a delegation of Coca Cola Icecek Pakistan, led by its General Manager, Ahmet Kursad Ertin, the minister said, the current floods have been causing huge life losses and financial drainage. According to press statement issued by finance ministry, he said, the government was curtailing unnecessary imports.

He assured the delegation members that their outstanding issues would be resolved at earliest, keeping in view the permitted financial limit for imports. He also appreciated the growth and tax revenue generation of the company for the economy of Pakistan.

Earlier, the delegation members extended warm sentiments to the minister on successfully securing the IMF deal and appreciated business friendly policies of the government.

They briefed the minister about the operational nature of the Coca Cola Icecek Pakistan and shared their significant contribution in the overall GDP of the country.

It was also shared that Coca Cola Icecek Pakistan was planning to undertake new investment expansion plans due to greater potential offered by the Pakistani market. Further, they shared with the minister the issues related to imports of certain items.

Meanwhile, a delegation of All Pakistan Akhbar Farosh Federation (APAFF) apprised the finance minister during a meeting about their issues especially related to decision to curtail the supply of newspapers in government departments. The delegation was headed by its Central Secretary General, Tikka Khan.

The minister expressed resolve of the government to support the media industry and its associated organizations and people, adding that the government believed in the social uplift of the masses and aims at resolving their issues at all levels to support them. According to the statement, the minister directed the relevant authorities to resolve the issues of APAFF.—APP

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