Gohar Ejaz anticipates reduction in POL prices on October 1
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The Caretaker Federal Minister for Commerce and Industries Dr Gohar Ejaz urged the business community to lend a hand to boosting the country's exports and fostering economic growth, reported the 24NewsHD TV channel.
Speaking to the media alongside Sindh Governor Kamran Tessori in Karachi, he attributed the rise in inflation to the rupee losing its value against the dollar.
He hoped that the depreciation of the US dollar would bring relief to the nation in shape of reduction of POL prices. .
Dr. Gohar Ejaz highlighted the comprehensive measures taken by the government to enhance export performance, emphasizing that these initiatives were positively impacting the value of the Pakistani rupee.
The Minister revealed that Pakistan had achieved an export surplus of $10 billion, with an impressive $3 billion increase over the past six months alone. He urged the business community to prioritize industry and trade, emphasizing that Pakistan, as a three-trillion-dollar economy, aspired to achieve annual exports of $100 billion, with Karachi's business community playing a pivotal role in this endeavor.
Dr. Ejaz pointed out the enormous potential in the fisheries industry, citing the possibility of extending fish exports to $500 million annually, thanks to the presence of 2,000 trawlers. However, he lamented the stagnation in overall export growth.
He expressed optimism that petrol prices would decrease starting October 1, in line with international market trends.
Responding to questions, Dr. Ejaz emphasized that the responsibility of holding elections rested with the Election Commission of Pakistan. He also assured that the government was committed to resolving the challenges faced by the industrial sector.
Sindh Governor Kamran Tessori, addressing the gathering, expressed hope for a significant depreciation of the US dollar to PKR 250. He called for collective efforts to drive Pakistan's development and highlighted ongoing measures to address the issue of illegal Afghan residents in Karachi.
Additionally, he proposed the establishment of ten 5-star hotels in each province.