Staff Reporter Islamabad
Central Vice President Pakistan Tehreek-e-Insaf (PTI), Fehmida Kausar Jamali has said that the government will go all-out against different cartels and mafias to provide immediate relief to the common man.
The US dollar has been devalued by a significant Rs 17 during last eight months; but there was no tangible impact on the price indices in Pakistan.
Talking to media on Saturday, Fehmida Kausar Jamali criticized and called out the attitude of various local and multinational companies, who at the time of devaluation of Pak Rupee by even one rupee against US dollar invariably resort to increase in the prices of their products.
Counter intuitively, now they were not inclined to reduce their prices even by a single rupee, she said.
She said the exchange rate in Pakistan on 23rd April 2021 was around Rs 152 against dollar; while in August 2020 it was recorded at highest of 168.87.
After this escalation, all import-oriented companies had increased their prices; specially the pharmaceutical and automobile sectors.
In fact, they were found busy enhancing their prices on monthly and weekly basis during past eight months.
However, today when dollar is almost 17 rupees down, there was no reduction in prices seen; while those prices must have come down considerably by now – ranging from 20% to 25% percent.
