Federal Minister for Finance, Revenue and Economic Affairs, Asad Umar, has said that Prime Minister Imran Khan is taking personal interest for the betterment of the country's economy and government is taking all possible measures to bring the economy on right track. Addressing the business community at the residence of Abdul Rahim Janoo president, International Memon Organization (IMO) on Saturday, he informed that Prime Minister Imran Khan has also constituted Economic Advisory Council (EAC) for consultation and right direction on economic issues.
"Well-known and qualified businessmen of Pakistan have been taken on board in this council who will advise the government time to time for the betterment of trade and economy", he added. He also informed that under the governance of the foreign minister a two-day conference of all Pakistani Ambassadors working abroad was also held to discuss way forward for the betterment of economy.
In reply to a question, the minister finance informed the prime minister has also constituted a Special Advisory Committee under the leadership of Madam Sania Nishtar to fight against poverty and the committee will make some good announcements in two months.
In welcome address, Abdul Rahim Janoo president IMO urged the federal government to link the exports with imports and restrict luxury imports to help save the foreign exchange reserve. He also proposed subsidy to facilitate them.
He highlighted about the prevailing challenges being faced by the government, particularly balance of payments, foreign currency reserves for running country day-to-day affairs, decline of exports, increasing import bills etc.
Janoo said that Pakistan can increase inflows of home remittance and earn more foreign exchange reserves by facilitating overseas Pakistanis. "Import should be allowed on Letter of Credits (LC) only and all other means of payment, i.e. DP/CAD /DA should be banned for imports, he suggested.
He also emphasized to regulate proper mechanism for Pakistani travel agencies to remit funds to their foreign partners and hotels abroad while sending tour groups of their clients.
Safder Hussain Mehkri chairman Rice Exporters Association of Pakistan (REAP) briefed about the recently held successful REAP rice conference at Larkana where all the stakeholder of rice were present and during the event gaps in rice value chain at farm level and post harvesting were identified. "During the conference it was agreed that Pakistan can double the rice crops and increase rice exports by adopting international best practices", he added.
He requested the support of the government of Pakistan to make a meaningful interaction with the government departments concerned for making proper strategy and implement the same in the larger interest of our country's economy.
Aqeel Karim Dhedi Chief Patron IMO, Ismail Sattar Vice President FPCCI, Yahya Polani, Rafique Suleman former chairman REAP, Muslim Muhammadi Vice President FPCCI, Consul General of Sri Lanka and leading businessmen from Karachi were present on the occasion.
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