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Optimism on CSF compensation temporary: ACCI

Islamabad:The Attock Chamber of Commerce and Industry (ACCI) on Sunday said the optimism following expected release of the held up Coalition Support Funds of $1.2bn by the US is temporary.

Markets have responded positively, rupee has strengthened while dollar is retreating after reopening of Nato critical supply route which raised hopes for CSF reimbursement that can help reduce financial pressure on the government, it said. Release of the held up money will boost non-tax revenues, reduce government’s reliance on borrowings and shrink current account gap for some time, said Tariq Mehmood, President ACCI while talking to business community here.

The relief will be temporary, sustainable relief can only be ensured if rulers pay some attention to the economy which has taken a backseat since long, he added.

He said that ignoring good governance and continued focus on publication of currency will not only push inflation up but also continue to deprive private sector of credit.Pakistan will continue to face threat of cut in international credit rating if it failed to introduce meaningful reforms, he warned.

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