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  • News Desk
  • Jul 25th, 2017
  • Comments Off on SBP governor optimistic about export growth
Newly appointed governor of State Bank of Pakistan has identified major challenges to country's economy. According to him, widening current account deficit and lower exports constitute major challenges to country's economy. He has pointed out that during May this year exports witnessed a decline due to a transporters' strike, however, in June exports posted some increase and it is being expected that this trend will continue in future. There is no doubt about the fact that widening current account deficit and lower exports are indeed major challenges for the economy. The governor, however, appears to have not subscribed to the widely-held view that an overvalued rupee has also contributed to lower exports. What he said in relation to the currency imperative, according to media reports, is existence of some pressure on exchange rate and that SBP is closely monitoring it on a daily basis.

That the SBP governor has provided a reason for legitimate optimism is a fact. Our exporters are therefore required to articulate a clear-cut strategy aimed at increasing exports. The government, in the meantime, is required to provide every possible facility to exporters with a view to helping them arrest the export slide. Our exports need a boost without any further loss of time.



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