The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has written to Prime Minister Shehbaz Sharif requesting that the country be declared under an economic emergency.
The FPCCI’s letter to the Prime Minister expresses worry over the dwindling foreign exchange reserves and inflation situation.
The FPCCI demanded that the Prime Minister implement a complete restriction on the import of non-essential commodities and that the government give incentives for people to deposit their money in banks.
The letter went on to say that the practice of selling expensive gasoline and power to the public for a low price should be discontinued immediately, and that fuel and petrol subsidies are a financial burden on the government.
It recommended that stringent steps be implemented to combat smuggling and that provinces be required to cut their petrol use.