ISLAMABAD – Cash-strapped Pakistan and the International Monetary Fund (IMF) are holding policy-level talks on the budget deficit, external financing, and other key issues, as the global lender keeps eye on untargeted subsidies.
IMF asked Pakistani officials to collect additional taxes to improve the tax-GDP ratio, linking the revival of the stalled program with policy reforms.
Reports in the media claimed that expenditures will be cut by Rs600 billion to limit the budget deficit. The development budget will be slashed by one-third. Earlier, the Washington-based lender and Pakistani government mulled views on technical talks.
The country of over 220 million is struggling to get the much-needed tranche of more than $1 billion as its exchange reserves plunged to critical levels, not enough to cover three weeks for imports.
As the government is trying its best to secure funding, the Human Rights Watch warned that stringent measures could worsen the social and economic plights of already distressed people.
The commission’s Asia director said millions have been pushed into poverty and denied their basic rights, urging the Sharif-led government and IMF to resolve the crisis without hurting low-income people.
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 March 28, 2023 (Tuesday).
Source: Forex Association of Pakistan. (last update 09:00 AM)
|UK Pound Sterling||GBP||345.5||349|
|Hong Kong Dollar||HKD||35.92||36.27|
|New Zealand Dollar||NZD||178||180|
KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 204,300 on Tuesday. The price of 10 grams of 24k gold was recorded at Rs175,160.
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 204,300||PKR 2,465|
|Karachi||PKR 204,300||PKR 2,465|
|Islamabad||PKR 204,300||PKR 2,465|
|Peshawar||PKR 204,300||PKR 2,465|
|Quetta||PKR 204,300||PKR 2,465|
|Sialkot||PKR 204,300||PKR 2,465|
|Attock||PKR 204,300||PKR 2,465|
|Gujranwala||PKR 204,300||PKR 2,465|
|Jehlum||PKR 204,300||PKR 2,465|
|Multan||PKR 204,300||PKR 2,465|
|Bahawalpur||PKR 204,300||PKR 2,465|
|Gujrat||PKR 204,300||PKR 2,465|
|Nawabshah||PKR 204,300||PKR 2,465|
|Chakwal||PKR 204,300||PKR 2,465|
|Hyderabad||PKR 204,300||PKR 2,465|
|Nowshehra||PKR 204,300||PKR 2,465|
|Sargodha||PKR 204,300||PKR 2,465|
|Faisalabad||PKR 204,300||PKR 2,465|
|Mirpur||PKR 204,300||PKR 2,465|
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