ISLAMABAD - Ghiyas Abdullah Paracha, central leader All Pakistan CNG Association (APCNGA), on Monday said bringing down the value of rupee against the US dollar would hike the price of petrol and gas . Ghiyas Paracha said in a statement that energy is the largest import item and erosion in the exchange rate will boost its price which has been already increasing in the international market. The leader of the CNG sector said that local currency is being compromised to please IMF and exporters who have become addicted to packages and devaluation. He said that government has repeatedly announced to keep exchange rate stable and contradicted news regarding devaluation as rumours but now it continues to fall which is beyond understanding. It is pertinent to mention here that after deregulation the price of CNG has registered an increase of up to 18 percent.

Source: The Nation December 12, 2017 01:26 UTC