Constant devaluation of PKR needs attention

Opinion leaders in engineering sector has urged the government to take serious action against rising price of US Dollar. If no measures been taken to maintain the Pak rupee value, engineering, manufacturing, industry, trade and business in the country will have even nowhere to stand. Engineering Post has collected the opinion of serious engineering professionals from various fields regarding devaluation. Expressing deep concern, it is being forecasted that the local industry which is already being hit by foreign low price and subsidized business entities, will have no future. A big number of exporters and importers are already suffering due to increased price of dollar as they had already concluded their deals on low rates. All the leading engineering associations, senior professionals and stake holders from engineering sector demanded that the panic situation due to unexpectedly high dollar price in engineering sector needs serious attention. It is pertinent to note that many sectors like HVACR are already facing great hurdles due to govt’s decision of high regulatory duty imposition. Electrical industry which mainly depends on import, is also badly suffering due to these escalations.