President Alvi urges nation to buy ‘Made in Pakistan’ products

President Alvi urges nation to buy ‘Made in Pakistan’ products
President of Pakistan Dr. Arif Alvi. (AP)
Updated 02 December 2018
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President Alvi urges nation to buy ‘Made in Pakistan’ products

President Alvi urges nation to buy ‘Made in Pakistan’ products
  • Pakistan needs to curtail its imports to reduce its mammoth trade deficit
  • The president asked to cut short on 'avoidable imported purchases' in the time of crisis

ISLAMABAD: President of Pakistan Dr. Arif Alvi, on Sunday, urged the nation’s to buy products 'made in Pakistan' to reduce the pressure on Pakistani rupee.

“Considering the pressure on the Pak rupee” the president wrote in a tweet, “I urge Pakistanis to buy ‘Made in Pakistan’.”

On November 30, Pakistan's currency plunged to an all-time low hitting PKR 143.5 against the USD in the inter-bank market before closing at PKR 138.5 -- losing 3.4 per cent against the back-drop of negotiations with the International Monetary Fund (IMF).

Pakistan sought a financial bailout package from the IMF to stabilize its cash-strapped economy which is marred by high fiscal and current account deficits and an enormously huge import-export gap. 

Analysts believe that Pakistan urgently needed to curtail its import bill until it finds a way to enhance its exports. 

“In this time of crisis, we must try to avoid luxury goods and avoidable imported purchases,” urged President Alvi.

He further added that, “If you put your mind to it, there is a long list of daily use [avoidable] imported products. This is what we must do together.”