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Govt asked to fix dollar rate to revive exports – Newspaper

KARACHI: The value-added textile sector has urged the government to support export-oriented industries on a war footing and fix the dollar exchange rate to revive the ailing textile exports.

The government should also allow a special 5 per cent exchange rate margin for both export proceeds and home remittances for viability to earn more dollars for the country.

Value-Added Textile Forum chief coordinator Muhammad Jawed Bilwani in a statement said in various countries, exporters are given priority and preference while the foreign exchange rates for importers are usually one dollar higher than export.

The rates to import industrial raw materials and essential commodities should be normal whereas the import rate for luxury and all non-essential items should be comparatively on the higher side.

Mr Bilwani said fear of default has also shaken the confidence of businesses, thus creating a negative impression among foreign buyers for…

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