Miftah Ismail, Federal Minister of Finance and Revenue, presided over a high-level meeting on Saturday to review and ensure the country’s exchange rate stability.
The meeting was attended by the heads of all major Pakistani exchange companies, the Deputy Governor of the State Bank of Pakistan, and senior officers from the Finance Division.
The minister expressed the government’s firm determination to keep the forex market stable. He stated that the government is committed to taking all necessary steps to keep the rupee stable in relation to the US dollar without interfering with the market mechanism.
The heads of exchange companies presented various proposals in this regard. It was suggested that exchange companies be made more accessible in order to increase the flow of domestic remittances to Pakistan.
A number of measures have also been proposed to reduce the outflow of foreign exchange from Pakistan via unofficial channels.
Other concrete proposals were submitted by exchange companies to improve Pakistan’s foreign exchange position.
The exchange companies assured that if these measures are implemented, the rupee will appreciate and stabilize in value.
The finance minister assured the participants that all possible measures would be taken to protect and strengthen the economy, resulting in a stronger rupee.
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