National
April 15, 2021
ISLAMABAD: The government has refused to bail out the value-added sector (VAS) seeking monetary compensation for the export orders it booked on the presumption that Pak Rupee would further depreciate against the US dollar, top officials of Commerce Ministry told to The News.
The government maintains that commercial decisions always have consequences that are to be borne by commercial entities and it’s not possible for the government to bail them out.
To seek compensation, some VAS representatives recently met Prime Minister’s Adviser on Commerce Textile and Investment Abdul Razak Dawood and top ministry officials. The VAS representatives sought the compensation, contending they did not book the rupees in advance as they usually do, presuming the rupee depreciation would continue. However, the unprecedented depreciation of the US dollar and appreciation of Pak Rupee from 165 to 152 has inflicted loss to the VAS exporters.