PESHAWAR, Aug 01 (APP): Former Senior Vice President of Sarhad Chamber of Commerce and Industry (SCCI), Zia ul Haq Sarhadi has hailed the issuance of a circular by the government, allowing all exchange companies to bring US dollars in cash into the country.
In a press statement issued here on Tuesday, Zia ul Haq Sarhadi who is also Director Pak-Afghan Joint Chamber of Commerce and Industry (PAJCCI) and central leader of the Customs Clearing Agents Association (PCAA) termed the decision as ‘very timely’ and welcoming.
In prevailing circumstances such decisions needed to be taken for overcoming the problem of dollar scarcity in the country as a result of which import and export businesses are under severe stress, Zia commented.
He said the provision of importing dollars by exchange companies will help in reducing the difference between rates of the US dollar in the interbank and open market.
Zia said due to the shortage of US dollars in the market, the business community especially exporters and importers was facing a lot of difficulties in the continuation of business.
Allowing exchange companies to bring dollars at the ratio of 50 percent under the head of export will help in the resolution of this problem.
He said all the public sector entities should adopt the policy of providing ease of doing business to the business community and take all decisions while keeping in view ground realities with the objective of bringing the country out of prevailing economic stress and constraints.
