RAWALPINDI: The Rawalpindi Chamber of Commerce has expressed grave concern over the stock market crash.

The 100 Index lost more than 2,000 points in just one day, President Nadeem Rauf said in a statement here on Thursday.

The investor sentiment had been badly dented due to growing economic uncertainty and after a record high import number for November.

The government will have to take urgent steps to restore the confidence of the investors, he added.

The Ministry of Finance should take immediate steps to strengthen the rupee against the dollar. November export figures are very encouraging.

We urged the government to ensure supply of cheap raw materials, providing environment conducive for promotion of local industry and SMEs to increase domestic exports.

The rates of income tax, sales tax, regulatory duty and other taxes should be reduced to curtail the cost of production.

RCCI President Nadeem Rauf said at present the prices of oil in the world market have come down.

The government should immediately pass on the people so that inflation can be reduced.

Policy making should be done in consultation with stakeholders, he said.

Published in Dawn, December 3rd, 2021