ISLAMABAD – The International Monetary Fund (IMF) has laid forth another condition of arranging assurance of further $8 billion on external financing to revive the $6.5 billion loan programme.
The cash-strapped country is scrambling to complete the ninth review to secure $1.1 billion loan from the global lender but clouds of uncertainty overhang despite meeting multiple condition, including free floating of local currency and massive taxes on electricity.
In line with the IMF conditions, Pakistan has already secured assurance of $2 billion from Saudi Arabia and $1 billion from the UAE.
The global lender now wants the South Asian country to arrange $8.4 billion in fresh loans to ensure debt repayments during the next seven months (May-December 2023).
The IMF has asked Pakistan to secure $6 billion in external financing till June 2023 to avert imminent default.
On Thursday, Finance Minister Ishaq Dar categorically stated that Pakistan will not take further tough decisions to meet the demands of the IMF.
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 September 25, 2023 (Monday).
Source: Forex Association of Pakistan. (last update 09:00 AM)
|UK Pound Sterling||GBP||372.5||376|
|Hong Kong Dollar||HKD||317||320|
|New Zealand Dollar||NZD||174.23||176.23|
KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 214,700 on Monday. The price of 10 grams of 24k gold was recorded at Rs184,070.
Likewise, 10 grams of 22k gold were being traded for Rs168,730 while a single tola of 22-karat gold was being sold at Rs196,807.
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 214,700||PKR 2,590|
|Karachi||PKR 214,700||PKR 2,590|
|Islamabad||PKR 214,700||PKR 2,590|
|Peshawar||PKR 214,700||PKR 2,590|
|Quetta||PKR 214,700||PKR 2,590|
|Sialkot||PKR 214,700||PKR 2,590|
|Attock||PKR 214,700||PKR 2,590|
|Gujranwala||PKR 214,700||PKR 2,590|
|Jehlum||PKR 214,700||PKR 2,590|
|Multan||PKR 214,700||PKR 2,590|
|Bahawalpur||PKR 214,700||PKR 2,590|
|Gujrat||PKR 214,700||PKR 2,590|
|Nawabshah||PKR 214,700||PKR 2,590|
|Chakwal||PKR 214,700||PKR 2,590|
|Hyderabad||PKR 214,700||PKR 2,590|
|Nowshehra||PKR 214,700||PKR 2,590|
|Sargodha||PKR 214,700||PKR 2,590|
|Faisalabad||PKR 214,700||PKR 2,590|
|Mirpur||PKR 214,700||PKR 2,590|