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November 21, 2020

Better policies

Newspost

 
November 21, 2020

The news regarding the revival of the IMF programme has created a stir in Pakistan’s market. The rupee depreciated by Rs1.52. The rupee decline highlights the fact that businesses in the country are not excited about Pakistan’s decision to go back to the IMF. It is a matter of satisfaction that the economy has been performing well for the last few months. The government must conserve as much dollars as possible by limiting the import of luxury and non-essential consumer goods that are eating away our precious foreign reserves.

We must not throw away our borrowed dollars to satiate the appetite of the affluent class. Also, the government must provide additional incentives and concessions to industries to strengthen the country’s exports. The current challenge offers a window of opportunity to reset the economy and not be dependent on the IMF.

Erum A Baig

Karachi