PAKISTAN “MUST MAINTAIN HER CURRENCY VALUE”
AUCKLAND, This Day (P.A.).— Pakistan did not devalue its currency when Britain did because it must industrialise to prosper. “We are largely dependent on the United States to supply machinery,” the Trade Commissioner for Pakistan, Mr K. H. Rahman, explained when he arrived in the Monowai today on a goodwill visit to New Zealand. “If we are to get a balance of trade with the hard currency areas we must maintain our currency,” he added. “We are eager to help Britain but in this case it was impossible.”
The volume of trade between New Zealand and Pakistan was small, but very much in New' Zealand’s favour. He added that the devaluation of New Zealand currency was an advantage to Pakistan.
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Greymouth Evening Star, 4 October 1949, Page 2
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126PAKISTAN “MUST MAINTAIN HER CURRENCY VALUE” Greymouth Evening Star, 4 October 1949, Page 2
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