HYDERABAD:Hyderabad Chamber of Small Traders and Small Industry (HCSTSI) President Muhammad Farooq Shekhani has demanded the government to constitute a joint investigation team to probe into the devaluation of rupee against US dollar.
In a statement issued here on Wednesday, he said since the last few months, the people experienced an artificial recession of rupee against US dollar, which threw the national economy into depression.
Accusing the the currency mafia, banks and money exchange companies of creating artificial crisis, he said Federal Finance Minister Ishaq Dar had already stated that the actual value of US dollar should be at Rs 173 instead of Rs 250.
In view of the above facts, the HCSTSI President emphasized that a joint investigation team should probe into the artificial recession of rupees and exemplary punishment should be awarded to those who found guilty so that no such economic disaster could be taken place in future.
He said that appreciation of rupee against US dollar would not only boost confidence among the investors but also improve the industrial sector following reduction in cost of production.