ISLAMABAD: Mian Raza Rabbani, former Chairman Senate, has said that Pakistani Rupee has hit an all-time low against the dollar and stands at Rupee 172, while incumbent Government failed to control this downward slide of the Rupee against the Dollar.
In a statement issued on Wednesday, former Senate Charman said this negative trend is likely to continue at least in the near future. “As consequence the foreign currency loans have gone up as also will the import bill on petroleum products”, he added.
This artificial increase in the petroleum bill will be passed on to the common man. It will result in further increase in prices of essential commodities, Rabbani said, adding that this serious situation continues various, functionaries of the Government are issuing contradictory statements.
The Finance Minister on 23rd September, 2021 in a press conference stated that amongst others, one of the reasons for the increase in the price of the dollar is that it is being smuggled across the border to Afghanistan, Rabbani maintained.
The FBR through a press release dated 24th September, 2021 contradicted the statement of its Minister by saying “categorically rebutted the unfounded, malicious in intent and misleading in content propaganda being advanced by some irresponsible elements that there was huge flight of dollars from Pakistan”.
He said that the IMF review on the bailout package is due and also, the fact that 22 US Senators have moved a Bill on Pakistan’s role in the Taliban offensive that led to the toppling of the US backed Afghan Government, proposing sanctions. The Government has failed to call a Session of Parliament to take both Houses into confidence.
He demanded that the Foreign and Finance Ministers along with other relevant stakeholders appear before the bar of the Parliament to take it into confidence on the present situation and the steps being taken to forestall the sanctions proposed in the US Senators Bill, he asked.
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