KHALID ABBAS SAIF

FAISALABAD: President Faisalabad Chamber of Commerce & Industry (FCCI), Shabbir Hussain Chawla has expressed concern over the fourth consecutive depreciation of Pakistan rupee from December 2017 and urged upon the government to take immediate steps to check further devaluation of rupee so that the economy could be saved from ever increasing burden of foreign debt.

He said that widening gap between imports and exports was an eye opener for the policy makers but neither the previous nor the caretaker government has taken due measures to check further deprecation of rupee. He said that the strategy to get fresh loans to pay back the instalments of previous loans had already pushed economy to the verge of bankruptcy.

“This trend is worsening day by day and depreciation of Pakistani rupee will further add pressure on our fragile economy,” he said and added that government must take bold, prudent and immediate measures to check further decline of rupee.