Monday, September 26, 2022

FPCCI demands the government to play a role in curbing the value of the rupee


Policy tools are not being used and banks are also making illegal profits through speculation: President FPCCI alleges – Photo: File

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed concern over the falling value of the rupee.

President FPCCI Irfan Shaikh has alleged that policy tools are not being used and banks are also making undue profits through speculation.

He said that according to economists, the value of the dollar is less than 200 rupees, speculations cannot be stopped, so instead of free float, the value of the rupee should be fixed.

He demanded that the State Bank and the government play a role in curbing the value of the rupee.

It should be noted that even after the repayment of the loan installment from the International Monetary Fund, the value of the rupee is falling in the country.

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by Azadi Times

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