Skip to main content

No need to worry about rupee devaluation, says PM

PM Imran Khan

ISLAMABAD: Prime Minister Imran Khan on Friday reiterated his government’s resolve to provide better facilities to attract foreign investment which he said will not only bring dollars into the country but also employment.

Speaking at the launching event of JW Forland automobiles assembly plant project, he said the Chinese company is going to invest up to $900 million in Pakistan as automobiles will now be fully assembled in the country for the first time.

The prime minister said the project would initially create 5,000 employment opportunities, which are likely to increase with the march of time as 45,000 people would be employed by it in future.

Referring to today’s major depreciation of the rupee against the dollar, he said a lot of people are worried about the devaluation. There is no need to fret about it, he added.

The premier said the local currency plunged against the dollar owing to the greenback’s paucity. Foreign investment was needed to bring dollars into the country as well as employment, he said and added when there would be enough foreign investment in the country, the greenback would drop, benefiting the economy.

He said the government is taking initiatives to stabilize the rupee-dollar parity.

Mr Khan said the transfer of remittances from abroad via legal channels would yield $10 billion for the national exchequer. Efforts are underway to reduce the current account deficit, he assured.

The post No need to worry about rupee devaluation, says PM appeared first on ARYNEWS.



from ARYNEWS https://ift.tt/2FPoDOf
Labels:

Comments

Post a Comment

Popular posts from this blog

IT ministry forms panel to review social media rules

ISLAMABAD: While uproar against the new rules to regulate social media continues from various segments of society, including parliamentarians, the Pakistan Federal Union of Journalists (PFUJ) and civil society, the information technology ministry on Friday formed a committee to review the rules. The federal cabinet approved the rules on Feb 11, but later after opposition from various quarters, including companies that manage different social media platforms, the prime minister announced that a fresh consultation process would be launched over the Citizens Protection (Against Online Harm) Rules 2020. The committee formed by the IT ministry is headed by Pakistan Telecommunication Authority Chairman Amir Azeem Bajwa while its members are Eazaz Aslam Dar, additional secretary of IT; Tania Aidrus, member of the Strategic Reforms Imple­mentation Unit, Prime Minister Office; and Dr Arslan Khalid, focal person on digital media at the PM Office. Federal Minister for Human Rights Dr Shireen Ma
Post a Comment
Read more

Young girl’s tragic story makes her symbol of Yemen war

Buthaina Mansur al-Rimi’s life has changed drastically since last year — orphaned in Sanaa, the little girl controversially ended up in Saudi Arabia for medical care and has just returned to Yemen’s capital. Her entire immediate family was wiped out in an air strike by a Saudi-led coalition that backs Yemen’s government, using an explosive device Amnesty International says was made in the US. Images of Buthaina’s rescue and a picture of her swollen and bruised at a hospital trying to force open one of her eyes with her fingers were beamed worldwide. That international fame saw her become something of a propaganda pawn in the war between Yemen’s Iran-backed Huthi rebels and Saudi media. “I was in my mother’s room with my father, sisters, brother and uncle, the first missile hit, and my father went to get us sugar to get over the shock, but then the second missile hit, and then the third,” she says. “And then the house fell,” adds the little girl, who says she is eight. It was the
Post a Comment
Read more