Traders, industrialists demand SBP governor appointment, regulatory measures against commercial banks
Karachi: Industry and trade leaders have demanded the government immediately appoint a central bank governor, pen a charter of economy with the opposition, and carry out a forensic audit of commercial banks to arrest the rupee fall.
They alleged that while the rate of dollar was Rs227, commercial banks were clearing documents at the rate of Rs242, which should be regulated by the central bank. The SBP should intervene to check the fall of the currency, as with the falling rupee, the government’s debt burden had increased by Rs9,700 billion.
Otherwise, they warned that the worsening economy would lead to a national security crisis in the next 15 days.
Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Karachi Chamber of Commerce and Industry leadership held two separate press conferences on Thursday that were joined by associations and industrialists from other cities as well.
Retrieved from: https://www.thenews.com.pk/print/975582-traders-industrialists-demand-sbp-governor-appointment-regulatory-measures-against-commercial-banks
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