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Businessmen have urged the government to control dollar flight besides bridging the gap between inter-bank and open market exchange rates.<\/span><\/p>\n \u201cA widening divide between inter-bank and open market dollar rates and an uncontrolled dollar flight are posing a new challenge to the trade, industry and economy,\u201d said Lahore Chamber of Commerce and Industry (LCCI) President Kashif Anwar in a statement.<\/span><\/p>\n While calling it an alarming exchange rate gap, he stressed that it was causing significant economic repercussions and adversely affecting the competitiveness of various sectors. Besides, the flow of \u201cremittances into Pakistan exhibited a decline of more than $4 billion in the financial year 2022-23.\u201d<\/span><\/p>\n Read <\/strong>Rupee slide, inflation pull PSX deep into red<\/a><\/p>\n Anwar said that Pakistan\u2019s economy was facing numerous challenges but exchange rate stability could play a pivotal role in ensuring economic growth and restoring investor confidence.<\/span><\/p>\n Citing examples of regional economies, the LCCI chief said that the difference between inter-bank and open market dollar rates in India was INR 0.13252, in Bangladesh, it was 0.25 taka and in the UAE it was AED 0.0006. However, the difference in Pakistan was significantly high at Rs24.04.<\/span><\/p>\n Published in The Express Tribune, September 3rd<\/sup>, 2023.<\/span><\/em><\/p>\n Like\u00a0<\/span><\/span><\/em>Business on Facebook<\/span><\/span><\/em><\/a>,\u00a0follow\u00a0<\/em><\/span><\/span>@TribuneBiz<\/span><\/span><\/em><\/a>\u00a0on Twitter to stay informed and join in the conversation.<\/span><\/span><\/em><\/p>\n<\/div>\n