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Depreciation of rupee could lead to higher inflation: Finance Minister Shaukat Tarin

Shuakat Tarin tests positive for COVID-19

ISLAMABAD: Finance Minister Shaukat Tarin has said that the depreciation of the rupee could lead to higher inflation.

According to the details, on the fourth day of this week, the value of the dollar increased by 12 paise in the interbank market. The Forex Dealers Association said that the dollar has risen to Rs 166.52 in the interbank market.

In the last four months, the dollar has appreciated by Rs13.69 paise. Finance Minister Shaukat Tarin, referring to the rise in the value of the dollar against the rupee, said that the fall in the value of the rupee could lead to inflation.

Read more: Shaukat Tareen, Shibli Faraz sworn in as federal ministers

Speaking on a private TV program, Finance Minister Shaukat Tarin added that fear of NAB is found in all ministries, including the Finance Ministry. During the meeting, Tareen said that there was a need for the political leadership of both the parties to come together and take steps to allay the illegitimate fears of the NAB.

PML-N leader and former federal minister Ahsan Iqbal, who was present on the occasion, said that in the last days of our tenure, a powerful person was told that the NAB and the Supreme Court had attacked the government. PML-N leader Ahsan Iqbal further said that the said person was also told that the officers would circulate files to save his life and no government would be able to function.

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