ISLAMABAD – Finance Minister Ishaq Dar has categorically rejected rumours that the country would be unable to make payment of $1 billion against Sukuk bonds which will mature in next month (December).
In a televised address, Dar stated that Pakistan will not default and will meet its upcoming bond payments, adding: “We will not even be close to default”.
His remarks come after an independent brokerage house, Arif Habib Limited, said that Pakistan’s perceived risk of default has surged to 79.33 percent from previous 75.50%. It said that ongoing political turmoil and uncertainities surrounding the ninth review of an IMF bailout package has triggered the risk.
The finance minister said that Pakistan had never defaulted on its international payments, adding that the bonds, which are maturing on fifth of December, will be paid on time.
Sovereign Sukuk of US $ 1 billion, due for repayment on 5th Dec 2022, will be repaid on that date by Government of Pakistan, InnshaAllah! pic.twitter.com/ruFwsVoIqO
— Ishaq Dar (@MIshaqDar50) November 19, 2022
He said rumors are being spread for political purpose and these people should refrain from speculations and irresponsible statements.
Talking about the fuel reserves in the country, he said Pakistan has no shortage of petrol and diesel and speculations on the issue are baseless.
Pakistani rupee remains stable against US dollar in the open market on 29 March, 2024.
In the open market, the US dollar was being quoted at 278.3 for buying and 281.05 for selling.
Euro moves down to 299.75 for buying and 302.75 for selling while British Pound hovers around 353.75 for buying, and 357.25 for selling.
UAE Dirham AED remains stable at 75.55 whereas the Saudi Riyal saw minor increase, with new rates at 73.70.
Currency | Symbol | Buying | Selling |
US Dollar | USD | 278.3 | 281.05 |
Euro | EUR | 299.75 | 302.75 |
UK Pound Sterling | GBP | 353.75 | 357.25 |
U.A.E Dirham | AED | 75.55 | 76.3 |
Saudi Riyal | SAR | 73.70 | 74.4 |
Australian Dollar | AUD | 182.9 | 184.7 |
Bahrain Dinar | BHD | 739.61 | 747.61 |
Canadian Dollar | CAD | 204.25 | 206.46 |
China Yuan | CNY | 38.74 | 39.14 |
Danish Krone | DKK | 40.30 | 40.7 |
Hong Kong Dollar | HKD | 35.55 | 35.9 |
Indian Rupee | INR | 3.33 | 3.44 |
Japanese Yen | JPY | 1.86 | 1.94 |
Kuwaiti Dinar | KWD | 901.14 | 910.14 |
Malaysian Ringgit | MYR | 59.25 | 59.85 |
New Zealand Dollar | NZD | 168.56 | 170.56 |
Norwegians Krone | NOK | 26.19 | 26.49 |
Omani Riyal | OMR | 724.36 | 732.36 |
Qatari Riyal | QAR | 76.57 | 77.27 |
Singapore Dollar | SGD | 206.25 | 208.25 |
Swedish Korona | SEK | 26.89 | 27.19 |
Swiss Franc | CHF | 313.78 | 316.28 |
Thai Bhat | THB | 7.76 | 7.91 |
Copyright ©2024. Reproduction of this website's content without express written permission from 'Daily Pakistan' is strictly prohibited.