Capping the dollar backfired

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Capping the dollar backfired


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Chairman Exchange Companies Association Malik Bustan says that the cap was imposed so that the rate of the dollar does not increase, but putting a cap on the dollar backfired.

Speaking in Geo News’ program “Aaj Shahzeb Khanzada Saath”, Chairman Exchange Companies Association Malik Bustan said that it has been decided to remove the cap from the dollar.

Malik Bustan said that the approval of putting a cap on the dollar was taken before Ishaq Dar and is not needed now.

He said that the governor has taken the State Bank into confidence on the decision, the infamy of not getting dollars has come on the exchange companies.

Malik Bostan said that the decision has been made to offer the dollar market rate, from tomorrow the black market rate will be the same as what people will give us.

He said that our target is to end the black market and reduce the black market gap by equalizing it, so that the dollar starts coming again.

According to Malik Bostan, it may have a negative impact, but it will have a positive impact in the coming days.

He said that if we start selling the dollar, it will start falling slowly, the dollar supply will not go to the black market.

Malik Bostan further said that the effort will be made tomorrow to sell the dollar at minimum margin.



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