ISLAMABAD/WASHINGTON – The International Monetary Fund is giving crisis-hit Pakistan a tough time over unlocking of stalled bailout package as the lender has put forward a new condition before signing a staff-level agreement.
After imposing extremely stern conditions for bailout funds, the US-based financial organization has now demanded a written assurance of financing from friendly nations, including Saudi Arabia, Qatar, and the United Arab Emirates by June 30.
The government maintained that written assurance will be provided by the executive directors of the KSA and other nations at the International Monetary Fund. In this regard, Finance Ministry along with the PM House mulled steps to get written assurance from these nations.
The cash-strapped country has completed almost all prerequisites set by the lender, including imposing Rs200 billion in taxes in a mini-budget and jacking up power and gas tariffs.
Islamabad also agreed with the lender’s latest condition not to get direct loans from commercial banks.
Amid continued delay, Prime Minister Shehbaz Sharif said Pakistan will sign the staff-level agreement in the coming days. Experts claimed that political turmoil in South Asian nations has become a key factor in delaying a much-needed deal that may stabilize the economy. Both sides continued talks for months now but are yet to reach an agreement.
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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