Business community leader flays govt for rupee depreciation

PESHAWAR: United Business Group (UBG) leader, Ilyas Ahmad Bilour termed the continuous trend in depreciation of Pakistani rupee against US dollar during the last one week as the worst failure of government, which had also exposed the nine months performance of Imran Niazi-led government.

In a press statement issued here on Sunday, the UBG leader said that dollar rate would further jump to Rs170 in coming days, which could be difficult and impossible for the incumbent incompetent government to control it.

He said that the increasing rate of dollar proved that the Pakistan Tehreek-e-Insaf led government had accepted all conditions of the IMF and signed deal with it.

Ilyas Bilour added that Prime Minister Imran Khan admitted that IMF head asked him via telephonic conversations that they were giving the best IMF person to lead the Pakistan Central Bank, the State Bank of Pakistan (SBP).

Ilyas Bilour, who is a senior leader of Awami National Party (ANP), said that Imran Khan calling those people looters and dacoits, who had carried out nuclear blasts but didn’t depreciate Pakistan rupees in their regime and controlled dollar rate at Rs64. He said that the PTI government had brought devastation everywhere instead of a change in the country.

The United Business Group leader believed the PTI government had put the country economy on stake but Prime Minister Imran Khan said that the country has come out from the difficult situation.

He added that Pakistani rupee had already been declared the worst currency as its value was brought down to very low compared to Afghan and Nepali currency. Ilyas Bilour feared the dollar rate might go up in the current year.