FPCCI ex-president concerned over devaluation of Pak rupee
Peshawar – FPCCI ex-president and senior leader of Businessman Forum, Ghazanfar Bilour has expressed serious concerns over the deteriorating economic situation, especially the devaluation of Pakistani currency, growing electricity, gas crisis, along-with whopping increase in prices of petroleum commodities over the last one month.
Bilour viewed the process of industrialisation was completely halted in Khyber Pakhtunkhwa and elsewhere in the country, while business and commercial activities were also badly affected owing to prevailing circumstances.
In a statement issued here on Saturday, Ghazanfar Bilour noted that prices of petroleum commodities were frequently increasing, while Pakistani rupee rapidly depreciating against dollar, besides that trade deficit, circular debts along-with electricity, gas crisis deepening with each passing day, resultantly the depressing situation brought the national economy on brink of collapse. A severe stagnation was witnessed in industrial growth, whereas a remarkable decline also registered in the country’s exports as well as import, he noted.
Bilour said that an uncertain situation is prevailing in the country. He criticised the rulers for not having any clear policy and programme to pull the country out of the present crisis, because of that a great unrest has been created among the general masses. He observed the spiralling price-hike turned the life of the common man miserable.
The Business Forum leader stressed the need to frame independent economic policies to prevent the country from economic bankruptcy. In this regard, he called to take the chambers of commerce, and the business community on board.
Owing to unscheduled and excessive load-shedding of electricity and gas, he said that industrial process halted in Peshawar and rest parts of Khyber Pakhtunkhwa that too triggered massive unemployment in the province.
Bilour also said if the government wants to put the national economy on right track, then it should make consultations with chambers and the business community before framing economic policies.