Shehbaz Sharif Expresses Concerns Over Depreciation Of Local Currency Against US Dollar


Shehbaz Sharif expresses concerns over depreciation of local currency against US dollar

PML-N President and Opposition leader in National Assembly Shehbaz Sharif asks government to take appropriate measures to save national economy.

LAHORE: (UrduPoint/Pakistan Point News-March 28th, 2020) PML-N President and Opposition Leader in National Assembly Shehbaz Sharif expressed serious concerns over depreciation of local Currency, saying that Coronavirus could bring more devastation to the national economy.

He said that interest rate was initially cut from 13.25 to 12.5 and then from 12.5 to 11 per cent and demanded the Federal government to cut it down till 9 per cent. He expressed these views while chairing meeting of his party members through a video link here on Saturday.

“Cutting down interest rate just after a week reflects that the State Bank and its policies have failed to bear fruit,” said Shehbaz Sharif.

He stated that the results of these SBC policies caused damage to the national economy as it indicated towards use of hot-money.

The government made wrong decision leading the situation from bad to worst.

“Let’s pray before Almighty Allah for his blessings,” said the PML-N President to his party members.

PML-N Punjab President Rana Sana Ullah and PML-N General Secretary Ahsan Iqbal and all other leaders were available through a video link to discuss the political and economic situation of the country.

Fida Hussnain

Fida Hussnain is a lahore based journalist. He writes on politics, religion, social issues and climate change. He is also a research fellow at University of Gujrat.