ISLAMABAD:

The prime minister's panel on industrialisation has recommended letting the rupee gain its true value to ensure a competitive environment for exporters and revisiting trade liberalisation to protect domestic industries. The private sector-led Working Group on Industrialisation submitted its recommendations to Prime Minister Shehbaz Sharif this week.

The panel's proposals are part of efforts to revive an economy that has stabilised but remains far from regaining momentum. According to the proposal, the value of the rupee should be linked with the Real Effective Exchange Rate, a measure of the weighted average value of the local currency compared to the inflation of trading partners. The recommendation implies that the rupee, currently traded at around Rs281 to a dollar, should

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