May 15, 2022: Federal Minister for Finance and Revenue, Mr Miftah Ismail expressed the firm resolve of the Government to ensure stability in the Forex market, said a press release issued on Saturday.
During a meeting with heads of all the major Exchange Companies of Pakistan at the Finance Division, he stated that Government is committed to take all possible measures to keep Pak rupee vis-à-vis the US Dollar stable without interfering with the market mechanism.
The meeting was called to review and ensure exchange rate stability in the country. At the outset, Various proposals were presented by the heads of Exchange companies in this regard. It was proposed that the exchange companies should be facilitated to increase the flow of home remittances to Pakistan. A number of measures were also suggested to curb the outflow of foreign exchange from Pakistan through informal channels.
In addition, some other concrete proposals/measures were submitted by the exchange companies to improve the foreign exchange position in Pakistan. The Exchange companies assured that if these measures are implemented, there will be appreciation and stability in the value of the Pak rupee.
Finance Minister Mr Miftah Ismail showed the firm resolve of the Government to ensure the exchange rate stability in the country. He also assured the participants that all possible steps would be undertaken to protect and strengthen the economy of Pakistan which would result in improving the value of the Pak rupee. He affirmed that the present government is determined to make Pakistan a prosperous and developed country.