FinMin being sure of Re value must fix the rate….The Financial Daily 01/11/2022

The Union of Small and Medium Enterprises (UNISAME) has invited the attention of senator and federal finance minister (FM) Ishaq Dar to the need to fix the dollar and rupee parity rate as he has endorsed the fact that the value of rupee against the dollar is not more than Rs 200.
UNISAME president Zulfikar Thaver said our union experts have reiterated that the value of rupee viz a viz the dollar is Rs 190 according to the formula of the price of gold and the price of dollar in the international currency basket. However the union experts said that a cushion of Rs 10 for demand and supply be allowed and the rate of Rs 200 should be fixed to bring about stability and feasibility and landed cost calculations for imports and export realisations.
Thaver said the FM) has stated many times positively that the value of dollar in exchange for rupee is not more than Rs 200 so it would be wise to fix it and not let the mafia create shortage and determine the rate.
The FM with the help of regulating agencies could get after the exchange dealers mafia who are inducing people to keep buying dollars and in fact have made dollar to look like a parallel currency.
The business community is investing in dollars and keeping reserves of dollars in and outside the country and the government is behaving helplessly. This should not be the case and the government must get after the culprits and disable the mafia from malpractices.

Posted in: Press Releases