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Islamabad:
The Economic Advisory Committee (EAC) raised concerns about the pressure structure on the transmission rate reflected on the Central Bank’s data on Wednesday, and urged Prime Minister Shebaz Sharif to look into the export of exports.
During a meeting, some members of the nine-member council pointed out the actual useful exchange rate (ReER)-the value of the currency against the average basket of foreign currencies-which increased to 104.05 in January 2025.
According to the authorities, it pointed out that it was estimated by Rs 4%, as the Reir is trading at a fair market value of 100 rupees and that no movement above or below this door is considered the price is not reflecting the real economic conditions.
However, Deputy Prime Minister and Foreign Minister Ishaq Dhar Rir is different and believes that the rupee is underestimated at least 15%. Currently, the rupee has been trading over $ 279 over the past few days and has been consistent for a long time.
The Prime Minister -led EAC includes members of Jehangir Khan Tareen, Sahib Shiraz, Shehzad Salem, Muzadiq Sulkarnin, Dr. Ezaz Nabi, Asif Per, Giad Bashir and Salman Ahmed.
Officials said that the EAC members, some of them exporters, and their exports are being competitive because their exports are not competing, and Finance Minister Muhammad Aurangzeb said. Pakistan’s (SPP) – Controller of Transfer Returns.
Some of the EAC members appeared to protect their own business interests during a meeting, and some micro-lewels raised issues, which should not be brought to debate and noticed the participant.
Forex reserves declined by last weekend, with $ 1 billion to $ 11 billion, EAC members said.
Pakistan’s foreign exchange reserves are low in violation of the International Monetary Fund’s plan because there is no major increase in new foreign rewards. The central bank is maintaining reserves by buying dollars from the market. Purchase is $ 9 billion in the past calendar year.
However, after the country registered the current $ 420 million current account deficit, the purchases were limited in January. The SPB buys dollars by retaining a portion of export operations and foreign sending.
The Central Bank says the restrictions on imports have been removed and the importation of cotton has been allowed to reduce the gap between the demand and domestic distribution. It is also allowed to import textile machines and spare parts; And raw materials are not produced locally.
Overall, in the first seven months of this fiscal, the $ 700 million surplus was registered in the wake of $ 19.2 billion worth of exports. Some EAC members recommended to import raw sugar for the purpose of re -exporting the goods.
A member prescribed shares in the export business and suggested that the government should not impose any sales tax on imported raw materials. Exporters misuse this facility after the government has imposed a sales tax for the export facility.
In a statement, the Prime Minister also highlighted local businesses in international markets with their exports. The Prime Minister pointed out that advice on regulating digital currencies is underway.
EAC members said the investment would only increase after the entire investment environment was improved and local investors had begun to invest.
The official manual of the Prime Minister’s Office said that the EAC members repeated their full confidence in the government’s economic policies and made key recommendations aimed at further strengthening Pakistan’s economic growth.
Shebas instructed the relevant authorities to cooperate with the members of the council to create a comprehensive action plan based on these recommendations. He emphasized that economic stability is not the result of a personal effort, but the joint ventures of the entire team.
The Prime Minister also emphasized the need to use regional trade skills. He said that one of the primary priorities of the government was the industry, agriculture, information technology development, employment creation and increasing exports.
The Prime Minister said that the Prime Minister has made efforts to improve telecommunication services and provide internet access to remote areas, which will help increase the number of frealansors and information technology (ID) exports.
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