Former Vice President Sialkot Chamber of Commerce and Industry (SCCI) and a leading exporter Sheikh Ejaz Ahmad Soni has suggested three-point formula to government to build up forex reserves for averting the worst.
Talking to media men here on Friday he added that incentive of Rs 4 for depositing One US dollar, and Rs 7 for depositing One Euro in national exchequer, package for repatriation of foreign exchange by the exporters and remittance by Overseas Pakistanis and government should motivate the countrymen to deposit foreign exchange instilling spirit of national hood through media and other sources.
He was confident that nation would rise to the occasion; especial incentives and foreign exchange would be deposited into the national exchequer to turn away the fast approaching crisis.
Expressing his solidarity with the government he said to make all possible efforts to bring economic stability through a planned strategy adding that undoubtedly there was an immediate need of building up forex reserves to turning away the pits.
The Former SCCI VP further stated that it is vivid fact that Pakistan has just a few weeks to raise billions of dollars needed to meet the debt payments and pay for imports adding that government was mulling over various options to raise foreign exchange including loan from International Monitoring Fund (IMF).
Ejaz Soni further stated that if government exercises on three-point formula there would be positive change and help in raising billions of dollars and it is high time that the government should consider on suggestions and announce incentives for the improvement of economy. He revealed that the proposal for settling the economic crisis had already been submitted to Dr Shamshad Akhtar Governor State Bank of Pakistan and Adviser to Prime Minister Shaukat Tarin for consideration.
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