Former President of FPCCI and President of United Business Group Zubair Tufail has said that the continuous increase in mark-up rate, end of gas and electricity crisis, devaluation of rupee against dollar and depreciation of the dollar. If immediate steps are not taken to curb the widening gap between imports and exports, the situation could become alarmingly dangerous. At present, the wheel of the national economy is not moving in the right direction.
Concerned that while the purchasing power of the ordinary person is being severely affected and becoming unbearable, in these circumstances, Prime Minister Imran Khan will have to take steps in the right direction.
Speaking to the media at a luncheon given in honour of the Council of Economic and Energy Journalists (SAGE) yesterday, Zubair Tufail said that the rupee had crossed Rs 178 against the dollar, which has led to a new storm of inflation in the country. Prices are skyrocketing, the livelihood of the poor and middle class has become more complex, while the trade deficit is expected to rise to a more alarming level.
President Anjam Wahab, Joint Secretary Riaz Andy, Khazan Ashraf Khan, Information Secretary Masood Ahmed Siddiqui and members of the Governing Body were also present.
Zubair Tufail appealed to Prime Minister Imran Khan to take immediate action realizing the gravity of the situation as the appreciation of the dollar has led to fears that the rupee will depreciate further, affecting not only national security but also national security also the economy.
The government should pay special attention to agriculture. Instead of importing commodities from abroad, he said they should be cultivated in the country to save valuable capital. He noted that our group’s presidential candidate Dr Noman Butt is educated and has a hand in business. At the same time, Sen. Vice Presidential candidate Mohammad Hanif Gohar is also a strong candidate. UBG has an absolute majority in Karachi and Lahore, and we will win the election with a significant majority.
CAPTION PHOTO:
A Group lunch hosted by President UBG Zubair Tufail in honour of the Council of Economic and Energy Journalists(CEEJ). UBG spokespersons Gulzar Feroze, President CEEJ Raja Kamran, Secretary CEEJ Kashif Munir, Anjum Wahab, Riaz Andy, Ashraf Khan, Masood Ahmed Siddiqui, Kafil Ahmed, Shoaib Shahram, Muhammad Ali, Shifa, Habib and other members of the governing body also present