Karachi: Pasban e Pakistan has said that the recent huge depreciation of the Pakistani rupee shows that our rulers are still taking dictation from the notorious international lender institutions.
Pasban Vice President Tariq Chandiwalla, in a statement here Wednesday, said that the depreciation of the rupee against the US dollar is proof of the incompetence of our rulers. He said the rulers instead of taking dictation from the International Monetary Fund (IMF) should formulate economic policies in the larger interest of Pakistan and Pakistanis.
He demanded that the State Bank of Pakistan (SBP) should intervene and freeze the exchange value of the rupee against the US dollar. He regretted that in past three months the Pakistani rupee has been depreciated for the third time, which has further increased the burden of already very heavy foreign loans and their neck break interest.
He said that with the current deprecation of the Pakistani rupees the foreign loans of this poor nation went increased by Rs480billion within no time. He said whole national economy incuding manufacturing, imports and balance of payments were also gravely jolted. He said our economy would suffer for a long time due to this negative impact.
Tariq Chandiwalla said that the hidden hands have made Pakistani politicians busy in personal fights so that they could not give attention to these terrorist attacks on the Pakistani economy. He said this financial terrorism is more dangerous than the conventional terrorism.
Pasban leader said the patriotic forces defending the country should also know that if the foundations of Pakistan are systematically weakened with this financial terrorism, it would not need any external threat or international terror for its total destruction.
He demanded to get rid of the curse of foreign loans for good. He said more facilities should be given to the Pakistanis living aboard in sending much-needed foreign exchange. He said serious focus should be given to boost exports and curtailing imports. He said agricultural and manufacturing sectors should be given a proper focus and their value-addition capacity should be increased.
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