Pakistan Leather Association Calls For Relaxation Of Foreign Exchange Restrictions On Leather Imports
According to the Pakistan business record April 8th, the chairman of the Pakistan Leather Enterprise Association, Sir John Jordan, wrote to the financial adviser to the Prime Minister of Pakistan, saying that in the current situation of foreign exchange reserves above $10 billion, the government should actively consider relaxing the foreign exchange restrictions on imports and restore the convenient measures for foreign exchange prepayment, so as to facilitate the import of raw materials needed by export oriented enterprises, thereby promoting exports and promoting economic growth.
巴基斯坦風(fēng)情
According to the foreign exchange prepayment convenience measures, export enterprises purchase foreign exchange from commercial banks at a slightly higher rate than the current exchange rate to prepay the raw materials needed for import, thereby helping exporters to obtain stable sources of raw materials and avoid losses caused by exchange rate fluctuations.
However, since the first half of 2008, the central bank has suspended this convenient measure in August due to the sharp decrease in foreign exchange.
After the suspension of this measure, the uncertainties brought about by the fluctuation of exchange rate increased, the import cost of enterprises increased, and production was greatly affected.
Editor in chief: Xu Qiyun
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