Government Will Not Compensate Firms Using Taxpayers’ Money

Business

Some firms made a commercial decision to take a risk and sell US dollars and now they are asking the government to cover their losses of around Rs. 15 billion.

This has been confirmed by Abdul Razak Dawood, Adviser to Prime Minister on Commerce, Textile and Industries on Wednesday.

The Adviser took to twitter and stated, “A few firms made a commercial decision to take the risk & sold forward US$. They are now asking Govt. to cover their losses (Rs.15 billion)”.

“I feel that this is not fair as it was a business decision that did not work out. It was also discussed at the highest level & my views were supported. It has therefore been decided that Government will not compensate these firms from taxpayers’ money”, he added.

He further said that in the National Command & Operation Centre (NCOC) meeting held on Wednesday on COVID-19, problems faced by businessmen were discussed and action will be taken for resolution of these problems.

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