US Dollar Restriction Issue Will Be Resolved Soon: SBP Governor

Governor of the State Bank of Pakistan (SBP) Jameel Ahmad has assured that the issue of dollar restrictions will be resolved soon.

The governor encouraged practical solutions to problems at a dinner hosted by Qaiser Ahmed Shaikh, the chairman of the National Assembly’s Standing Committee on Finance and Revenue.

According to the SBP governor, the country has limited resources, and more problems with forex exchange are surfacing. “We welcome your suggestions, and I assure you that we will take them into account.”

He stated that the SBP will meet with representatives from the Faislabad and Karachi chambers of commerce (FPCCI) and (KCCI) on January 18 to discuss the resolution of the issues confronting the business community.

Former FPCCI president Zubair Tufail spoke on the occasion, expressing concern about a blanket ban on raw material imports, claiming that the move would bring the industrial sector to a halt.

The central bank governor expressed optimism that the situation would improve once forex inflows began.  Jameel Ahmad stated unequivocally that the SBP will continue to support all sectors equally in order to maintain balance, despite the limited resources available. In response to a question, he stated that the SBP has directed banks to make it easier for pharmaceutical raw materials, life-saving drugs, and medical equipment to be imported.

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