, Dr. Muda Yusuf has called for stability in customs duty exchange rate in order to avoid unnecessary burden on the business community.
Yusuf noted that such changes are not consistent with the country’s present growth aspirations as it leaves investors to grapple with volatility in the foreign exchange market and contend, concurrently, with high level of unpredictability in the international trade ecosystem. This development, he further contended, has introduced an unprecedented level of uncertainty and unpredictability to the international trade dynamics, making it extremely difficult for investors to plan under these unstable circumstances. He further noted that investment risk has become elevated, planning has become difficult, risk management has become challenging and investors’ confidence is being weakened.