ICCI Shows Concerns Over Falling Value of Rupees Against Dollar

ICCI shows concerns over falling value of rupees against dollar. The Islamabad Chamber of Commerce and Industry has shown concerns over the falling value of rupees against dollar as rupees has hit an all-time high of 113 against dollar in the open market.

It called upon the government to take urgent measures to bring stability in the value of domestic currency as the continuous fall in the value of rupee would bring imported inflation in the country and curtail domestic demand leading to further slowdown in the economic growth of the country.

Sheikh Amir Waheed, President, Islamabad Chamber of Commerce and Industry said that after hectic efforts of the government, Pakistan’s economy was marching towards stabilization. However, he said that the falling value of rupee would push the economy from low inflation and high growth to high inflation and low growth period that would not be in the best interest of the country. He said the slowdown in the economic growth and curtailed domestic demand would adversely affect employment generation and give rise to a new wave of price hike in the country.

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