The value of the US dollar against the Pakistani Rupee continued to rise, reaching Rs283.50, after an increase of eight paisas.
In interbank trading, the US dollar closed at Rs283.43 on Thursday, marking an increase of 78 paisas.
It’s important to keep the difference between the rates in the interbank and open markets below 1.25%, as required by the International Monetary Fund (IMF).
The caretaker Finance Minister, Dr. Shamshad Akhtar, and her economic team met with the visiting International Monetary Fund (IMF) representatives. They discussed how well Pakistan is doing in following the conditions of the $3 billion loan program from the IMF.
The IMF team asked Pakistan to stick to all the promises it made. The Finance Ministry sources say that the IMF team liked what the economic team in Pakistan has done so far.
Pakistan assured the IMF team that they would meet all the goals set by the IMF. They also explained that they have already met most of the targets for the first part of the fiscal year.
In the meeting, they mentioned that the Federal Board of Revenue collected more taxes than they were supposed to, and they also collected more money from the Petroleum Development Levy. They said they have increased the prices of electricity and gas, and they are working on fixing the circular debt problem.
They also talked about making changes in government institutions and following a market-based exchange rate policy.
