Benefit of strengthened rupee should be transferred to masses


KARACHI, April 05 (Online): Chairman of National Business Group of FPCCI, President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Monday welcomed improvement in the value of rupee against the US dollar and demanded that its benefit should be transferred to the masses.

He said that strengthened rupee has added to the problems of exporters which should be tackled.

Mian Zahid Hussain said that increasing remittances have played a major role in firming up the local currency which has also reduced the current account deficit to satisfactory levels.

Talking to the business community, the veteran business leader said that government should try to keep the momentum in remittances in the remaining months of the current fiscal and the incoming year.

He said that dollar is now fourteen rupees cheaper, last year dollar was traded for Rs166.70 in the interbank which now it is being traded for Rs152.76.