The Pakistani authorities and the global lender held a meeting through a video-link, local media reported, citing sources.
Finance Minister Asad Umar, secretary finance and other key officials represented Islamabad in the meeting.
Pakistani authorities, according to sources, is of view that harsh conditions of the IMF cannot be accepted.
They said that Pakistan wanted to avail the bailout package on acceptable conditions, while the IMF has reportedly given positive response over it and agreed to continue the talks.
On Dec 4, Finance Minister Asad Umer said negotiations with IMF are not broken and are still underway saying, the previous government should have gone to IMF early this year as balance of payment crises was pretty evident and that would have been the best time to seek IMF package.
The views were expressed by the lawmaker while talking at a dinner hosted by Federal Information Minister Fawad Chaudhary for APNS Executive Committee. The Chairman BOI Haroon Sharif was also present on the occasion.
The Finance Minister further said that the current Government did not waste any time in engaging the IMF and there is almost consensus among the Economic Advisory Council that seeking IMF Package is the most viable option for Pakistan to stabilize its economy and currency in the short term.
He also said that the incumbent government inherited a huge current account deficit of $ 19b and it was an uphill task to arrest this deficit from growing and initiating different measures to tackle it through prudent fiscal and monetary policies.
In November, an IMF mission concluded its visit to Pakistan. “The Pakistani authorities and IMF staff have made significant progress toward reaching an understanding on policy priorities and reforms that could be supported by a financial arrangement with the IMF,” the statement read.
“Discussions will continue in the coming weeks toward reaching staff-level agreement,” it added.
An International Monetary Fund (IMF) mission led by Harald Finger visited Islamabad from November 7-20, 2018 to initiate discussions on a financial arrangement with the IMF requested by the Pakistani authorities to support their economic reform program.
“The IMF mission has been engaged in productive discussions with the Pakistani authorities on economic policies and reforms that could be supported by a financial arrangement with the IMF. In this context, there has been broad agreement on the need for a comprehensive agenda of reforms and policy actions aimed at reducing the fiscal and current account deficits, bolstering international reserves, strengthening social protection, enhancing governance and transparency, and laying the foundations for a sustainable job-creating growth path.
KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on May 27, 2023 (Saturday).
Source: Forex Association of Pakistan. (last update 09:00 AM)
|UK Pound Sterling||GBP||381||384.5|
|Hong Kong Dollar||HKD||36.6||36.95|
|New Zealand Dollar||NZD||176.98||178.98|
KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 235,550 on Saturday.The price of 10 grams of 24k gold was recorded at Rs201,950.
Likewise, 10 grams of 22k gold were being traded for Rs163,624 while a single tola of 22-karat gold was being sold at Rs 190,880.
Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.
|Lahore||PKR 235,550||PKR 2,450|
|Karachi||PKR 235,550||PKR 2,450|
|Islamabad||PKR 235,550||PKR 2,450|
|Peshawar||PKR 235,550||PKR 2,450|
|Quetta||PKR 235,550||PKR 2,450|
|Sialkot||PKR 235,550||PKR 2,450|
|Attock||PKR 235,550||PKR 2,450|
|Gujranwala||PKR 235,550||PKR 2,450|
|Jehlum||PKR 235,550||PKR 2,450|
|Multan||PKR 235,550||PKR 2,450|
|Bahawalpur||PKR 235,550||PKR 2,450|
|Gujrat||PKR 235,550||PKR 2,450|
|Nawabshah||PKR 235,550||PKR 2,450|
|Chakwal||PKR 235,550||PKR 2,450|
|Hyderabad||PKR 235,550||PKR 2,450|
|Nowshehra||lPKR 235,550||PKR 2,450|
|Sargodha||PKR 235,550||PKR 2,450|
|Faisalabad||PKR 235,550||PKR 2,450|
|Mirpur||PKR 235,550||PKR 2,450|
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