Dollar price should be controlled, according to the ex-president of FPCCI

Syed AhadWeb Editor

05th Sep, 2021. 07:29 pm

The value of the dollar should be controlled and unnecessary imports should be banned, said the President of UBG.

Zubair Tufail, former president of FPCCI and president of United Business Group, has said that the devaluation of the rupee against the dollar has led to imports and the gap between exports is widening and immediate action should be taken, the situation could become alarmingly dangerous.

Zubair Tufail said in a statement that the rupee’s rise to Rs 167 against the dollar would lead to a storm of inflation in the country and food prices would skyrocket, making the livelihood of the poor and middle class more difficult while the trade deficit. It is feared to grow to alarming proportions.

Zubair Tufail appealed to Prime Minister Imran Khan to take immediate action realizing the gravity of the situation as the appreciation of the dollar has led to fears that the rupee will depreciate further which will affect not only national security but also the economy.

If Prime Minister Imran Khan does not solve this problem, Pakistan’s sovereignty will be endangered, the country’s debt will increase sharply, and therefore it is necessary to control the value of the dollar and unnecessary imports.

The government should take steps to curb unnecessary imports on an emergency basis. In this age of inflation, it has become inevitable to stop the value of the dollar in one place. The people of Pakistan cannot afford further inflation.

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