The ex-president Hyderabad Chamber of Commerce and Industry Muhammad Amin Khatri has said that the devaluation of rupee has led to deterioration of auto industry.
Talking to this scribe on Tuesday, he said that the devaluation of rupee has also cast bad impacts on agro based industry as vegetables' prices went beyond the reach of the poor and middle class of the country.
The devaluation has also disabled 80 percent industry of the country and there is no foreign investment in the near future as being claimed by the Prime Minister Imran Khan. The economic stability in the country is above the thoughts as action against business community has created unrest among the traders, industrialists and exporters of the country, he said and added that the right of appeal has been snatched from the businessmen and they are feared that FBR may arrest them.
He urged the federal government to introduce reforms in tax collection system so maximum numbers of eligible persons could be brought into the tax net.