KARACHI: A staggering over 6.5 percent devaluation of rupee against US dollar will balloon the import bill of the country on top of opening floodgates of inflation for masses, an industry official said on Friday.
“For the textile export sector, cotton was available on international price,” Jawed Bilwani, the central chairman Pakistan Hosiery Manufacturers & Exporters Association (PHMA) said in a statement.
“Most of the inputs are also imported such as dyes, parts, chemicals and petroleum products etc. As such, due to devaluation, their cost will also increase, resultantly increasing the cost of exportable goods.”
Bilwani said it would have a negative impact on economy and might lead to anarchy and precarious law and order situation.
The headquarters of the Sui Southern Gas Company . — APP FileKARACHI: Sui Southern Gas Company has launched a fresh...
The logo of the ExpoMed Eurasia. — CA MI websiteKARACHI: Pakistan is participating in ExpoMed Eurasia, a leading...
Gold bars are seen in this undated file photo. — AFP/FileKARACHI: Gold prices increased by Rs500 per tola on...
FFBL Head Office building can be seen in Islamabad. — FFBL WebsiteKARACHI: Fauji Fertilizer Bin Qasim Limited has...
Representational file of an BMW car. — AFP FileLAHORE: Small improvements in economic credentials of the country are...
A fuel station worker filling petrol in vehicle at a fuel station in Karachi on Tuesday, April 16, 2024KARACHI: After...