Rawalpindi Chamber Of Commerce And Industry Urges Govt To Control Devaluation Of Rupee

The President Rawalpindi Chamber of Commerce and Industry (RCCI) Malik Shahid Saleem Friday said that the recent increase in gas prices and rupee devaluation has created unrest among the masses.

RAWALPINDI, (UrduPoint / Pakistan Point News - 12th Oct, 2018 ) :The President Rawalpindi Chamber of Commerce and Industry (RCCI) Malik Shahid Saleem Friday said that the recent increase in gas prices and rupee devaluation has created unrest among the masses.

Addressing a ceremony hosted in the honor of Federation of Chambers of Commerce and Industry (FPCCI) here, he said the devaluation of rupee, high transportation cost and sharp decline in foreign reserves would open a new wave of inflation in the country and demanded of the government to reduce gas and petrol prices, so that relief could be provided to the common man.

FPCCI President Ghazanfar Bilour observed the rising Dollar would lead to costlier imports and the exporters would also bear the brunt due to rise in cost of imported raw materials.

"There is a need to bring reforms in taxation and said that traders are not against the taxes, but they are against the harassment in the name of tax collection and audits," he said.

Bilour urged government to include representatives from Chambers of Commerce and tradebodies in Economic Advisory Council (EAC).