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FPCCI expresses concerns over Pak Rupee depreciation

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Tuesday expressed serious concerns on massive depreciation of Pak Rupee and said it will result in a price hike of consumer items.

In a statement Ghazanfar Bilour, President, FPCCI expressed serious concern on the surge of US Dollar to an alarming level.
He also showed his dismay over the rising prices of all essential items and utilities, which are going to seriously hurt the common man and the cost of doing businesses.
Bilour said that People’s expectation form the new Government are fading fast and the expected relief for the poor masses is nowhere in sight.
The devaluation of rupee will bring a massive hike in the prices especially petroleum prices and other imported raw material. This will seriously affect the overall economy and already stressed export performance.
He demanded that the Government should bring certainty to its economic policies and its uncertain stance on many issues is seriously affecting the Country’s economy.

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