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HomeBusinessRupee loses 21 paisas against dollar

Rupee loses 21 paisas against dollar

The exchange rate of the Pakistan rupee depreciated by 21 paisa against the US dollar in the interbank trading on Thursday and closed at Rs224.36 against the previous day’s closing of Rs 224.15.

The price of the euro increased by Rs1.39 and closed at Rs235.91 against the previous day’s closing of Rs234.52, according to State Bank of Pakistan (SBP). The Japanese yen remained unchanged to close at Rs1.63, whereas an increase of Rs1.48 was witnessed in the exchange rate of the British Pound, which was traded at Rs273.51 as compared to its last closing of Rs272.03. The exchange rates of the Emirates Dirham and Saudi Riyal increased by 6 paisa each to close at Rs61.08 and Rs59.66 respectively. According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollar in the open market were recorded at Rs229.6 and Rs231.9 respectively.

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Lahore Chamber of Commerce and Industry Standing Committee on FMCG has demanded the government clear the containers stuck at the ports by allowing the importers to purchase dollars from the open market.

The committee also demanded the government give a ten-year integrated plan for import substitution. The government should chalk out a stable and strong economic policy and the economy should be separated from politics. Containers stuck at ports should be transferred to customs and other warehouses so that billions of dollars are not lost in terms of demurrages, Pakistan FMCG sector leaders demand from the government.

The importers made these demands during an important meeting of the standing committee of the Lahore Chamber of Commerce and Industry for FMCG sector, which was chaired by the president of the committee and executive member of the chamber Muhammad Ijaz Tanveer. Senior leader FMCG sector Sheikh Khalid Mahmood and Waqas Arshad also spoke in the meeting. On this occasion, officials and members of Pakistan FMCG sector, Ehsanullah Khan, Azhar Amin, Basharat Ali. Tanveer Rizvi. Mohsin Hameed. Muhammad Aoun. Muhammad Abdullah. Ali Tariq Apart from Muhammad Iqbal, a large number of people belonging to the relevant sector were present in the ceremony.

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The participants of the meeting discussed the current poor economic conditions and the problems of the FMCG sector and demanded the government to solve these problems as soon as possible. On the occasion of the ceremony, Pakistan FMCG Sector President and VEC Member Lahore Chamber Muhammad Ijaz Tanveer said that despite repeated assurances, the government is not taking any practical steps to solve the problems due to which the situation of uncertainty is increasing. Is. They are trying to convince the government that a permanent economic system should be established by separating the economy from politics so that an industrial and commercial revolution can take place in Pakistan. On this occasion, the leader of Pakistan FMCG sector, Sheikh Khalid Meraj. Waqas Arshad. Other officials including Ehsanullah Khan also addressed.

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