Pakistan FMCG Importers Association (PFIA) expressing its grave concern over the rising value of different foreign currencies has urged the government to take immediate steps for bringing down this rate in line with the official rates.
PFIA leaders made this demand at a meeting of the Association, here on Wednesday. PFIA Secretary General Ali Tariq Mattoo chaired the meeting which was also attended by Nafees Barry, Ejaz Tanveer, Zeeshan Saleem Sheikh Wajid, Zeeshan Bukhshi and Faisal Arshad.
Participants of the meeting claimed that Telegraphic Transactions (TT) rates of different foreign currencies were even higher and it will result higher input cost for the importers and different industries importing raw material for their products.
They claimed that recent hike in foreign currencies were not realistic and it may hurt industrial and economic activities in the country. They said that it would also bring a new wave of inflation and prices of different imported goods would go up.
Ali Tariq Mattoo and others urged the government to take immediate steps for controlling the situation as reduced industrial activity as a result of this hike would also deprive the national exchequer from precious revenue.
PFIA leaders urged the government that minimum time required to implement any new policy for Customs/FBR and Food authorities should be three months. It also noted that importers from various sectors especially FMCG were not taken in confidence while the FMCG was the largest sector of imports in Pakistan. They said it is very important that Customs and FBR should roll out yearly calendar for all happenings and new developments and send information to all stakeholders. Ample time should be given for preparations for the meetings, they concluded.
Comments
Comments are closed for this article.