THE country apart from facing political upheaval, has also been suffering from economic meltdown owing to currency fluctuations. The major reason for this is higher import compared to export, and a lack of inward remittances.
The policymakers have been endeavouring to reduce the quantum of imports, but without the cooperation of exporters and non-resident Pakistanis, the momentum will not survive. We faced a difficult time during the Covid pandemic, and exporters and expatriates played their role.
But, now a majority of people have been avoiding to send home remittances, and exporters have been delaying their shipments deliberately, both hoping they would gain more profits owing to currency fluctuations.
However, they do not realise that because of these tactics, the country’s economic condition is going from bad to worse, and this will ultimately affect one and all. It is time to think only for the betterment of Pakistan, and exporters should now play their role and bring export proceeds back to the country without any delay.
Published in Dawn, August 12th, 2022