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LAHORE – Leader of the Opposition in National Assembly and PML-N president Mian Shehbaz Sharif on Monday termed the continuous surge in the dollar rates as destructive for the national economy and dangerous for the national security. In a press statement, PML-N leader said the rise in the value of the dollar and inflation could be the result of a “clandestine agreement with the International Monetary Fund (IMF)”. He said that the increase in the dollar rate is making people poorer but the government just doesn’t care for their plight.
“History is witness that any increase in the dollar prices has always augmented inflation in the country,” said Shehbaz, adding that the rulers are maintaining a “criminal silence” over the matter of dollar price hike just like their silence over the inflation. He urged the government to inform the Parliament about the result of the talks with the IMF if the deal with it hasn’t ended.
“Hiding the terms and conditions agreed upon with the IMF from the Parliament has something fishy about it,” says Shehbaz Sharif.
He said that the people are paying the price for agreeing to the conditions put forward by the IMF in terms of inflation and unemployment. The rupee touched a new all-time low of Rs174.43 against the US dollar in the inter-bank market on Monday in the wake of mounting pressure of import payments as well as looming uncertainty regarding a delay in the IMF’s decision regarding the resumption of the $6 billion Extended Fund Facility (EFF). Currently, the value of the dollar is Rs175.5 in the open market.