ISLAMABAD – The talks between Pakistan and the International Monetary Fund (IMF) have entered final stage and both sides will conclude ongoing talks for the stalled bailout package today.
The country of over 220 million is facing the worst economic crisis and was in talks with the international lender to secure another bailout, by making stringent reforms demanded by its mission.
IMF officials were in the South Asian nation for over a week time to sort out the differences over fiscal policy as the government made desperate attempts to unlock the much-needed funds as forex reserves plunged to critical levels.
Earlier, Pakistan’s Finance Chief Ishaq Dar led the delegation, and Nathan Porter represented the IMF delegation, with both sides mulling ways on reforms, ending circular debt, and proposed tax measures.
On the last day of negotiations, experts claimed that the draft of mutual economic and financial policy is likely to be finalised.
It was reported that the ongoing talks will end in the next 48 hours as the Sharif-led government is set to unveil a new ‘mini-budget’ to impose new taxes worth nearly Rs200 billion to ensure the continuation of the IMF program.
Lately, State Minister for Finance and Revenue Aisha Ghaus Pasha said Pakistan would soon reach an understanding with the IMF to secure the next tranche.
Pasha also hoped IMF to share the initial draft before the end of talks, saying the government is close to the finalization.
More to follow...
Daily Pakistan Global Web Desk
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 April 01 , 2023 (Saturday).
Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency | Symbol | Buying | Selling |
US Dollar | USD | 283.6 | 286.65 |
Euro | EUR | 308 | 311 |
UK Pound Sterling | GBP | 350.5 | 354 |
U.A.E Dirham | AED | 77.2 | 77.9 |
Saudi Riyal | SAR | 75.5 | 76.5 |
Australian Dollar | AUD | 187.5 | 189.9 |
Bahrain Dinar | BHD | 754.25 | 762.25 |
Canadian Dollar | CAD | 206.5 | 208.7 |
China Yuan | CNY | 41.16 | 41.56 |
Danish Krone | DKK | 41.49 | 41.89 |
Hong Kong Dollar | HKD | 36.11 | 36.46 |
Indian Rupee | INR | 3.45 | 3.56 |
Japanese Yen | JPY | 2.25 | 2.3 |
Kuwaiti Dinar | KWD | 924.86 | 933.86 |
Malaysian Ringgit | MYR | 64.14 | 64.73 |
New Zealand Dollar | NZD | 176.37 | 178.38 |
Norwegians Krone | NOK | 27.16 | 27.46 |
Omani Riyal | OMR | 736.57 | 144.51 |
Qatari Riyal | QAR | 77.87 | 78.57 |
Singapore Dollar | SGD | 209.5 | 211.5 |
Swedish Korona | SEK | 27.35 | 27.65 |
Swiss Franc | CHF | 310.26 | 312.76 |
Thai Bhat | THB | 8.29 | 8.44 |
KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 209,000 on Saturday.The price of 10 grams of 24k gold was recorded at Rs179,190.
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.
City | Gold | Silver |
Lahore | PKR 209,000 | PKR 2,525 |
Karachi | PKR 209,000 | PKR 2,525 |
Islamabad | PKR 209,000 | PKR 2,525 |
Peshawar | PKR 209,000 | PKR 2,525 |
Quetta | PKR 209,000 | PKR 2,525 |
Sialkot | PKR 209,000 | PKR 2,525 |
Attock | PKR 209,000 | PKR 2,525 |
Gujranwala | PKR 209,000 | PKR 2,525 |
Jehlum | PKR 209,000 | PKR 2,525 |
Multan | PKR 209,000 | PKR 2,525 |
Bahawalpur | PKR 209,000 | PKR 2,525 |
Gujrat | PKR 209,000 | PKR 2,525 |
Nawabshah | PKR 209,000 | PKR 2,525 |
Chakwal | PKR 209,000 | PKR 2,525 |
Hyderabad | PKR 209,000 | PKR 2,525 |
Nowshehra | PKR 209,000 | PKR 2,525 |
Sargodha | PKR 209,000 | PKR 2,525 |
Faisalabad | PKR 209,000 | PKR 2,525 |
Mirpur | PKR 209,000 | PKR 2,525 |
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