Hammad perturbed over declining imports and exports amid virus crisis

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Hammad Azhar

ISLAMABAD: Federal Minister for Economic Affairs Hammad Azhar Friday voiced concern over declining imports and exports of the country in the aftermath of the cronavirus outbreak.

Talking to a news channel, he said the volume of imports and exports was diminishing due to fight against the virus that has encircled almost all nations around the world.

Hammad said the government is monitoring the evolving situation day by day due to the virus outbreak in the region.

About depreciating value of Pakistani rupee, the minister said in many countries, the representatives of banks had been confronted with devaluing issues of their currency against dollar.

About current situation of loans in Pakistan, he said, “we were in contact with the World Bank, the International Monetary Fund, the Asian Development Bank (ADB), and other conventional banks for seeking assistance regarding write-off facility of debt for underdeveloped nations.

“We will have to approach international banks and IMF for availing $600 million loan besides Rs1.5 billion from other conventional banks to meet uprising challenges, ” he stated.

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