We can provide 1 billion dollars per month and 12 billion dollars per year, Chairman Exchange Companies Association of Pakistan. Photo: Screen grab
Karachi: Forex dealers have offered to provide $12 billion annually to the government for permission to borrow dollars from overseas Pakistanis under the direct swap policy.
Chairman of Exchange Companies Association of Pakistan Malik Bustan, General Secretary Zafar Pracha and others met Chief Whip Senate of Pakistan and Senate Standing Committee on Finance Salim Mandviwala yesterday.
During the meeting, Malik Bustan offered to play his role due to the poor economic situation of the country and said that if the government allows us to buy dollars from overseas Pakistanis under the direct swap policy like in 1998, then we will get 1 billion per month and 12 billion per year. Dollars can be provided.
He said that with this move, not only the country can get rid of the IMF, but also the value of the rupee will remain stable against the dollar.
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