RCCI Urges Govt To Strengthen Rupee Against Dollar

President Rawalpindi Chamber of Commerce and Industries(RCCI) Nadeem Rauf on Thursday said the exports figures were encouraging during November, however, the Ministry of Finance should take immediate steps to strengthen the Rupee against the dollar

RAWALPINDI, (UrduPoint / Pakistan Point News - 2nd Dec, 2021 ) :President Rawalpindi Chamber of Commerce and Industries(RCCI) Nadeem Rauf on Thursday said the exports figures were encouraging during November, however, the Ministry of Finance should take immediate steps to strengthen the Rupee against the Dollar.

In a statement issued here on Thursday, expressing grave concern over the stock market crash, he said that "The 100 Index lost more than 2,000 points in just one day, has badly affected the sentiment of investors and urged the government to take immediate steps for restoration of the investor's confidence".

Nadeem asked the government to ensure the supply of cheap raw materials, providing a conducive environment for promoting local industry and SMEs to increase domestic exports.

He said that the rates of income tax, sales tax, regulatory duty and other taxes should be reduced to decrease the cost of production.

President Nadeem Rauf said that as the oil prices had decreased in the international market, the government should immediately pass on the relief to the masses to reduce inflation.

"Policymaking should be done in consultation with stakeholders," he added.