July 09, 2008	Wednesday	Rajab 5, 1429

RAWALPINDI, July 8: The Rawalpindi Chamber of Commerce and Industry (RCCI) has expressed concern over the surge in the value of dollar against rupee in the open market, and has said that this rising trend would shatter the country’s economy.

In a statement issued here on Tuesday, RCCI President Abdur Rauf Chaudhry said the declining value of rupee against the dollar would have far-reaching negative impact on the economy.

The shifting of capital abroad is also an important factor in the declining trend of rupee, he added.

Referring to the power crisis, Mr Chaudhry said the industry was not being supplied the required energy due to which export targets were being affected.

He feared that international supply orders might be cancelled if targets were not achieved in time. The trade deficit has been alarmingly affected due to increase in imports and declining exports, he said.

The RCCI president urged the government to take the situation seriously and devise a policy in consultation with all stakeholders so that the economy could be put back on track.