ICCI asks government to take notice of rupee depreciation

ISLAMABAD, Jul 18 (APP):President Islamabad Chamber of Commerce and Industry (ICCI) Sheikh Amir Waheed on Wednesday asked the government to take notice of declining value of rupee against the dollar.
In a statement he said that the the rupee devaluation would increase the input cost and make local products uncompetitive in the international market and create an inflationary trend in the country.
It would would also make electricity costly as the country was generating most of the energy through thermal fuel.
He asked the government to start consultation with all the stakeholders including the private sector to develop a consensus roadmap for economic recovery.