Rupee appreciation adversely affects export-oriented Industries: Federation of Pakistan Chambers of Commerce and Industry

Karachi, March 17, 2015 (PPI-OT): The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in a statement demanded compensation to the exporters who are facing great deal of problem in the wake of Pak rupee appreciation against foreign currencies.

They said that the exporters are of the view that the appreciation of Pakistani rupee against the foreign currencies has adversely affected export-oriented sectors, including textiles, and the Finance Ministry should look into resolving these issues. They said that if government ignored this impact of the rupee appreciation it would cause closer of various textile units in the country.

FPCCI further said that the export-oriented industries already facing severe problems due to shortage of energy, liquidity crises and now financial losses due to rapid appreciation in the exchange rate of rupee. He also informed that in the current scenario they are forced to get their working capital from other sources on high rates.

FPCCI urged to revisit of the foreign exchange policy and allow exchange rate to find its own equilibrium. However, the exporters should be given some benefits in the form of rebate so that the country’s export may not be affected and the exporter may feel comfortable at the time of receiving their payments.

For more information, contact:
M. A. Lodhi
Secretary General
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Shahra-e-Firdousi,
Karachi-75600, Pakistan
Tel: +92-21-35873691, 93-94
Fax: +92-21-35874332
Email: info@fpcci.com.pk
URL: www.fpcci.com.pk