The Pakistan Carpet Manufacturers and Exporters Association has urged the Trade Development Authority of Pakistan (TDAP) Director General to take up the huge difference of dollar's conversion rate for export and open market with the authorities concerned.
Association's Senior Vice Chairman Riaz Ahmad in a statement on Friday said the State Bank of Pakistan (SBP) occasionally intervenes to smooth out the market which is now a day indicating main problems as the open market US dollar conversion rate is around Rs 109 while export dollar conversion rate is Rs 104. The difference of Rs 5, besides taxes, reaches up to Rs 7 which is creating a lot of hurdles for exporters in Pakistan, he said.
Copyright Business Recorder, 2017
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