Post Brexit trading loss to Pakistan recieves confirmation by the FCCI already
The senior vice president Syed Zia Alamdar Hussain of the FCCI (Faisalabad Chamber of Commerce and Industry) has already indicated loss of the Brexit decision on the Pakistani exporters as the Euro has become devalued due to it.
The British pound came down to Rs 144.01 as the euro fell from Rs 118 to Rs 115.42 and other currencies also came down with the dollar coming to Rs 105 in the open market through the calculated Rs 117.
UK is one of the biggest traders of Pakistan as it exports to Britain during 2014 to 2015 was $1.65 billion and if these exports are converted into pounds then this is a loss in billions that will be faced by Pakistani exporters only.
This is why Pakistan cannot make duty free exports to UK giving a direct impact negatively on the exports and so the government and related departments should conduct a survey to deal with the possible loss for Pakistan as the economical and political situation in Europe keeps shifting.
He has also recommended Pakistan’s genius minds to help with the immediate relief measures in order to save the country’s exports from financial export losses.