Ishaq Dar was warned about holding an artificial exchange rate: Deputy Chairman Senate

MG News | July 17, 2018 at 03:17 PM GMT+05:00

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Speaking to Karachi Chamber of Commerce and Industry, Deputy Chairman Senate, Salim Mandviwala, stressed that the Ex-Finance minister Mr. Ishaq was warned not to artificially maintain the dollar-rupee exchange rate.

Ignoring those warnings, the government continued to pump about 7 to 8 billion dollars in the market to keep stable the value of the dollar, he said.

Keeping in view Ishaq Dar’s stance on the exchange rate, the deputy chairman attributed the rise in dollar to the outgoing government and went on to declare that when you hold the value of the dollar artificially to give a misleading picture of a vibrant economy, it would blow up at some point, the results of which we are seeing now.

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