Home Economy Dollar upsurge against rupee a sign of ‘economic devastation’: Shahbaz Sharif

Dollar upsurge against rupee a sign of ‘economic devastation’: Shahbaz Sharif

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PML-N President and Leader of the Opposition in the National Assembly Shahbaz Sharif. — AFP/File
  • PML-N leader predicts “doomsday-like” inflation will grip the country starting December 1.
  • Warns the country has been pushed into an economic abyss, “if nothing is done soon, the recovery will become impossible.”
  • Shahbaz Sharif says record-high trade deficit is a “dangerous sign of economic catastrophe in the country.”

Terming the alarming upsurge of the value of the US dollar against the rupee a sign of “economic devastation”, Leader of the Opposition in the National Assembly Shahbaz Sharif on Saturday said significant fluctuations in the rupee-dollar parity are due to the “lack of a sound economic policy” in the country.

The local currency on Friday closed yet again above Rs175 — near its all-time low against the US dollar.

According to a statement issued by the party, the PML-N president stated that when the finance ministry refutes the…

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