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IMF delegation arrives in Pakistan for bailout talks

Usman Arshad 11:02 AM | 7 Nov, 2018
IMF delegation arrives in Pakistan for bailout talks
ISLAMABAD - A delegation of the International Monetary Fund (IMF) arrived in Islamabad today (Wednesday) for talks on a bailout package on the request of the government.

IMF’s technical team will hold talks with Pakistani officials. Pakistan will inform the money watchdog about the country's economic needs.

Finance Minister of Pakistan, Asad Umar and heads of the Finance Bureau of Revenue and State Bank of Pakistan (SBP) will attend the meetings.

The delegation will be in the country for two weeks.

Earlier,  IMF spokesperson Gerry Rice had said the fund’s executive board will be sent for talks on a staff-level agreement.

Pakistan had formally approached IMF in October for loans.

Last month, IMF chief Christine Lagarde had said that she met with Umar, SBP Governor Tariq Bajwa and members of their economic team during which Pakistan formally requested for financial assistance. "During the meeting, they requested financial assistance from the IMF to help address Pakistan’s economic challenges," Lagarde said in a statement.

The PTI led government has decided to approach the International Monetary Fund (IMF) for a bailout to address the mounting balance of payments crisis faced by the South Asian country, Finance Minister Asad Umar had announced.

In a video message, the minister disclosed that Prime Minister Imran Khan had given the go-ahead to hold talks with the IMF for a bailout programme after consulting economic experts and stakeholders.

However, The minister has expressed that it would be Pakistan's last bailout package from IMF. Pakistan has successfully gained $6 billion economic assistance package from friendly Kingdom of Saudi Arabia. China has also extended its support to help the neighbouring country to resolve its economic crisis.

The Finance minister says the package is being sought only to get relief for the time being and run the country’s economic system smoothly. “Meanwhile, we will improve our capacity by gradually reducing the trade deficit, increasing foreign remittances, improving tax revenues, and introducing other revenue generation measures in a bid to avoid the IMF packages in future,” he said.

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Today's currency exchange rates in Pakistan - Dollar, Euro, Pound, Riyal rates on June 6, 2023

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 June 06, 2023 (Tuesday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 304.9 308.15
Euro EUR 322 325
UK Pound Sterling GBP 377 381
U.A.E Dirham AED 83.5 84.5
Saudi Riyal SAR 80.5 81.5
Australian Dollar AUD 202 204
Bahrain Dinar BHD 758.82 766.80
Canadian Dollar CAD 226 230
China Yuan CNY 40.28 40.68
Danish Krone DKK 41.03 41.43
Hong Kong Dollar HKD 36.4 36.75
Indian Rupee INR 3.46 3.57
Japanese Yen JPY 2 2.08
Kuwaiti Dinar KWD 925.2 934.2
Malaysian Ringgit MYR 61.94 62.54
New Zealand Dollar NZD 173.16 175.16
Norwegians Krone NOK 25.88 26.18
Omani Riyal OMR 742.38 750.38
Qatari Riyal ‎QAR 78.38 79.08
Singapore Dollar SGD 220 222
Swedish Korona SEK 26.36 26.66
Swiss Franc CHF 313.87 316.37
Thai Bhat THB 8.21 8.36

Today's gold rates in Pakistan | gold price in Pakistan – June 7, 2023

Gold Rate Today:

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 228,900 on Wednesday. The price of 10 grams of 24k gold was recorded at Rs197,190.   

Likewise, 10 grams of 22k gold were being traded for Rs180,756 while a single tola of 22-karat gold was being sold at Rs 210,832.

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.

Gold Price in Pakistan: Lahore, Karachi, Islamabad

City Gold Silver
Lahore PKR 228,900 PKR 2125
Karachi PKR 228,900 PKR 2125
Islamabad PKR 228,900 PKR 2125
Peshawar PKR 228,900 PKR 2125
Quetta PKR 228,900 PKR 2125
Sialkot PKR 228,900 PKR 2125
Attock PKR 228,900 PKR 2125
Gujranwala PKR 228,900 PKR 2125
Jehlum PKR 228,900 PKR 2125
Multan PKR 228,900 PKR 2125
Bahawalpur PKR 228,900 PKR 2125
Gujrat PKR 228,900 PKR 2125
Nawabshah PKR 228,900 PKR 2125
Chakwal PKR 228,900 PKR 2125
Hyderabad PKR 228,900 PKR 2125
Nowshehra PKR 228,900 PKR 2125
Sargodha PKR 228,900 PKR 2125
Faisalabad PKR 228,900 PKR 2125
Mirpur PKR 228,900 PKR 2125

Daily Pakistan diligently monitors and updates the current gold rates in Pakistan on a daily basis

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