KARACHI: `Our rupee is not devalued: Why then can we not buy more with it yet?` This is the question which the Pakistani consumer has been asking himself these past two months or so. ... His question is pertinent ...

because the people of Pakistan have not so far received practically any benefit from the cheaper imports that have been coming into the country since the non-devaluation of the Pakistani rupee which should have enabled the ... consumer to buy cloth, consumer goods, medical drugs etc at cheaper than presterling-devaluation prices.

... The reason given by both trade and official circles for this colossal profiteering in cloth is `shortage of supplies`. The trade circles also complain that the Government`s new licensing system is largely responsible.

It may be recalled that since the issue of import licences was resumed after the temporary stoppage following the devaluation of sterling and the non-devaluation of the Pakistani rupee, only those who can show that they had been importers of cloth in 1948 are being given licenses up to the value of only 20 per cent on their 1948 imports. Staff correspondent