LAHORE: The Pakistan Carpet Manufacturers and Exporters Association (PCMAEA) has urged the government to take appropriate steps to contain dollar rate against rupee so that export deals could not affect due to fluctuations in the dollar rate.
PCMEA Senior Vice Chairman Usman Ashraf, central leader Abdul Latif Malik, Carpet Training Institute (CTI) Chairperson Ejazur Rehman and other senior members told media here Sunday that exporters were reluctant to do foreign business deals due to uncertainty of the dollar, therefore government should focus on stabilizing the foreign exchange reserves by bringing in foreign exchange through exports and remittances to give a direction to the faltering economy. Dollar fluctuations were creating difficulties in importing raw materials and signing the contract with the foreign buyers, they added.
PCMEA office-bearers said that policy makers should also consult the stakeholders and take a unanimous decision regarding the dollar, as the prevailing situation had a negative impact on their business, while high cost of production had left them uncompetitive in the global market. The government should remove obstacles in the way of exports because this sector is the lifeline of economy.