The Association of Pakistan Textile Mills Appreciates (APTMA) published a press release thanking the Governor of the State Bank of Pakistan for setting the exchange rate to its real underlying value. The devaluation has made Pakistani products more competitive internationally, leading to increased market share and export volume for textiles. The realistic exchange rate policy is also credited with eliminating Pakistan's balance of payments deficit by curtailing unnecessary luxury imports, and setting the basis for sustainable growth through increasing exports rather than loans.
The Association of Pakistan Textile Mills Appreciates (APTMA) published a press release thanking the Governor of the State Bank of Pakistan for setting the exchange rate to its real underlying value. The devaluation has made Pakistani products more competitive internationally, leading to increased market share and export volume for textiles. The realistic exchange rate policy is also credited with eliminating Pakistan's balance of payments deficit by curtailing unnecessary luxury imports, and setting the basis for sustainable growth through increasing exports rather than loans.
The Association of Pakistan Textile Mills Appreciates (APTMA) published a press release thanking the Governor of the State Bank of Pakistan for setting the exchange rate to its real underlying value. The devaluation has made Pakistani products more competitive internationally, leading to increased market share and export volume for textiles. The realistic exchange rate policy is also credited with eliminating Pakistan's balance of payments deficit by curtailing unnecessary luxury imports, and setting the basis for sustainable growth through increasing exports rather than loans.
The Association of Pakistan Textile Mills Appreciates (APTMA) published a press release thanking the Governor of the State Bank of Pakistan for setting the exchange rate to its real underlying value. The devaluation has made Pakistani products more competitive internationally, leading to increased market share and export volume for textiles. The realistic exchange rate policy is also credited with eliminating Pakistan's balance of payments deficit by curtailing unnecessary luxury imports, and setting the basis for sustainable growth through increasing exports rather than loans.
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Date: 29-11-2019
Dr. Reza Baqir,
The Governor State Bank of Pakistan Karachi.
Subject: Press Release
Dear Reza Sahib,
The following Press Release was published today in the national newspapers for your kind information.
EXCHANGE RATE POLICY
APTMA wishes to place on record its appreciation of the setting of the exchange rate to its real underlying value. The devaluation has resulted in making Pakistani products competitive in the international markets. This is translating in the recapture of market share we had lost and a substantial increase in the volume of exports. Textile exporters of Pakistan are extremely grateful to the government for following realistic exchange rate policies.
The exchange rate policy is the prime reason for the eradication of the deficit in the Balance of Payments as import of unnecessary luxury items has been effectively curtailed. We believe that this has set the basis for a sustainable and prosperous Pakistan in the future as the requirements of foreign currency will be met through rapid increase in exports rather than through unsustainable loans.
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