Traders’ confidence needed to be restored: Gohar Ejaz

All Pakistan Textile Mills Association (APTMA) Patron-in-Chief Dr Gohar Ejaz has said there is no crisis of dollars in the country, reported 24NewsHD TV channel. 

Addressing a seminar titled “Reviving the National Economy” organized by the Chamber of Commerce and Industry Islamabad on Wednesday, he said the confidence of the business community has been lost and the government should take immediate steps to restore its trust. 

Expressing concern over the country's economic situation, he said that all the political parties have to make a charter of the economy keeping in view the sinking economy of the country.  

He said that the government should end the uncertain economic situation, reduce the increasing rate of the dollar in the open market.

Gohar Ejaz said that the national debt has reached $116 billion. “Can we not live without a new car, mobile phone, and TV for a year?”

He said that loan lenders are sitting on our heads while no one is giving suggestions to increase domestic exports. 

 Dr Gohar Ejaz said the government has nothing to do with the dollar’s hike rather it is the business community sitting in Dubai that decides the price of the $dollar in the country. “Now, the business community will have to do something for the national economy.” 

The government should set priorities to strengthen the economy. Inflation is simply because of the devaluation of the rupee against the dollar,” he said, adding Pakistan needs to devise requirement-based policies to increase exports. 

He hoped that the country is capable of meeting its economic and social needs. 

Reporter: Waqas Azim