Rupee’s devaluation, economic crisis worries KATI chief
KARACHI: President Korangi Association of Trade and Industry (KATI), Salman Aslam expressed concern over rupee fall, Fitch’s negative rating, stock market crash and economic crisis.
He said that the business community has serious reservations about the government’s mysterious silence and not taking any steps to manage the declining economy.
President KATI said that due to the stock market crash and the negative rating by Fitch, there is a lack of confidence among the investors. Foreign investment has declined and industrialists are struggling.
President KATI said that the increasing political instability in the country is causing severe losses to Pakistan and in such a situation it is the responsibility of the government and the State Bank to intervene immediately to save the economy from disaster.
He further said that due to the current situation, anarchy is spreading in the country.
Copyright Business Recorder, 2022
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