Only economic stability can determine real valuation of dollar: Pervaiz Hanif

Business Desk
LAHORE: Chairman Carpet Training Institute (CTI) and former president of Lahore Chamber Pervaiz Hanif said that Federal Finance Minister Ishaq Dar claims that the real value of the dollar is 190 rupees, then the question arises as to why it has been bought and sold in the market from 228 to 231 rupees.
In a statement issued here on Sunday, he asked what are the hidden forces that keep the rupee from depreciating against the dollar? He said as long as there is instability in the country, the fluctuations of the dollar cannot be controlled, which is causing serious concern to the exporters.
He further said if a common person talks that the real value of the dollar is 190 rupees then it is understandable but Ishaq Dar is the Federal Finance Minister who is saying this and contrary to his claim, there is a huge difference between the value of the dollar and the Pakistani rupee in the market.
“Exporters are reluctant to enter into contracts with foreign buyers due to volatility in the dollar and if the orders are not fulfilled according to the agreement, it is likely to affect the reputation of Pakistan,” adding he said that stability is inevitable to strengthen the economy in the country, otherwise it is not possible to get success in whatever skills are tried.
Pervaiz Haif said that the increase in exports is inevitable for the solution of economic problems that Pakistan is facing but our exports are collapsing, the imbalance between exports and imports is also a challenge. He said the government should end instability in its policies, due to which the actual valuation of the dollar will take place and the economy will also develop.