Business community shows concerns over falling value of rupee.
Islamabad -- The business community at Islamabad Chamber of Commerce and Industry has shown great concerns over the dwindling value of rupee, which has fallen to Rs.167 against a dollar and urged that government should take urgent remedial measures to stabilize the rupee as its continuous depreciation would have devastating impact on the business and economic activities.
Muhammad Ahmed Waheed, President, Islamabad Chamber of Commerce and Industry said that Pakistan was mostly importing machinery, capital goods and raw material for industrial production while some industries were importing up to 70 percent of raw material for manufacturing activities. However, the constantly falling value of rupee would make the imports of these things very costly, that would further enhance the cost of production making...
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