Govt announces to make budget at exchange rate of 290 rupees to dollar
Private sector has predicted that exchange rate of dollar will reach 320 rupees in first half of next fiscal year and more than 350 rupees in second half
In the budget of the next financial year, the federal government is asking to keep the dollar exchange rate at 290 rupees, while the private sector and the business community are asking to keep the dollar rate at more than 350 rupees.
The owners of large-scale manufacturing industries across the country are sitting on the daily fluctuations of the dollar and the exchange rate of the dollar in the first half of the budget of the next fiscal year from July to December 2023 is 320 and in the second half from January 1 to 30. By June 2024, the exchange rate of the dollar is predicted to reach more than 350 rupees.
The private sector across the country is suspicious that on the occasion of the budget of the current financial year in July 2022, the exchange rate of the dollar was set at 190 rupees and the rate of petrol at 180 rupees per liter, while the rate of petrol reached 282 rupees per liter. While the exchange rate of dollar is also more than 285 rupees.
The private sector says that a higher-than-expected rise in petrol and dollar exchange rate has added to the woes of the industrial sector. The industrial sector is also worried about the increase in electricity and gas rates in the budget of the next financial year.
In the budget of the next financial year, government ministries are also fixing the exchange rate of the dollar at 290 dollars, while Finance Minister Ishaq Dar is claiming that the exchange rate of the dollar is not more than 244 rupees.
