Haji Haroon meets minister: Govt urged to ensure supply of dollar in market

ISLAMABAD: Former President Exchange Companies Association of Pakistan and Chairman H&H Exchange Haji Haroon, in a meeting with Finance Minister Ishaq Dar, emphasized that for economic stability the government should ensure the dollar supply in market.

Interbank and open market spread is increasing, exchange companies have tried to reduced it to some extent but actual responsibility lies with the government, central bank and on commercial banks.

Haji Haroon claimed, the difference in US Dollar price between official channel and the gray market has increased significantly that overseas Pakistanis are not sending money through official channel for the last two months, which is the reason for the decrease of more than 10 percent in remittances.

Haji Haroon told the finance minister that smuggling of dollars from Pakistan through Afghanistan is also going on, which the federal government should take timely and vigorous measures to stop.

Finance Minister Ishaq Dar informed about the steps being taken by the federal government on all these issues and expected the market sentiment will improve as the dollar supply improves in the next few weeks.

Copyright Business Recorder, 2022