Foreign exchange reserves to soar after dollars inflow from US next week: Governor State Bank

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KARACHI: State Bank of Pakistan (SBP) Governor Jameel Ahmad on Wednesday said decision for imports is taken after seeing the dollars.

“the foreign exchange reserves will start witnessing upsurge after dollars inflow from US next week.

He said this while addressing the business community at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) here Wednesday.

He held we have to facilitate the business. We had to take some steps due to current account deficit.

We decide about import after seeing the dollars, he remarked.

Our imports have dipped, he underlined. 33000 cases of LCs have been cleared, he said adding it takes time to scrutinize LCs.
We are creating facility in import for agriculture sector.

We will have no objection if importers arrange for dollars, he underlined. Exporters are allowed to make arrangements for imports out of their own dollars.

Certain goods stand stuck up in port due to imports without permission, he pointed out.

I can say nothing about interest rate at present, he observed.