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IMF says ‘some more hurdles’ for Pakistan before release of bailout funds

Web Desk 07:05 PM | 21 Mar, 2023
IMF says ‘some more hurdles’ for Pakistan before release of bailout funds
Source: File Photo

IMF says ‘some more hurdles’ for Pakistan before release of bailout funds

ISLAMABAD – The International Monetary Fund said cash-strapped Pakistan has to make a few more changes before it can salvage much-needed loan to avoid a default, pressurising Sharif-led government to secure assurances from friendly nations that pledged funds.

As Islamabad is looking desperately to unlock a bailout from the global lender, Sri Lanka already got financing this week while Dhaka pushes on with making reforms demanded by IMF.

Amid economic uncertainty, International Monetary Fund said that the Pakistani government has to fulfil the remaining prerequisites to salvage the staff-level agreement. In a statement, IMF representative for Pakistan Esther Perez however revealed that significant progress has been made in discussions with Islamabad toward policies.

She called ongoing talks with the Pakistani authorities fruitful and mentioned that implementation of the policy agenda is a top priority. Perez said there will be a staff-level agreement after the rest of the conditions were met.

The recent statement comes on the heels of another blow as global lender raised reservations on the petrol subsidy scheme announced by Prime Minister Shehbaz Sharif. Perez maintained that Pakistani government has not consulted with the lender on the petrol subsidy scheme.

The financial institution is seeking more details about the scheme from South Asian nation as lender already turned down unfunded and untargeted subsidies.

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Daily Pakistan Global Web Desk

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Today's currency exchange rates in Pakistan - Dollar, Euro, Pound, Riyal rates on June 8, 2023

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 June 08, 2023 (Thursday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 300 303
Euro EUR 319 322
UK Pound Sterling GBP 371 375
U.A.E Dirham AED 82.6 83.7
Saudi Riyal SAR 79 79.5
Australian Dollar AUD 202 204
Bahrain Dinar BHD 759.46 767.46
Canadian Dollar CAD 227 230
China Yuan CNY 40.28 40.68
Danish Krone DKK 41.09 41.49
Hong Kong Dollar HKD 36.4 36.75
Indian Rupee INR 3.46 3.57
Japanese Yen JPY 1.98 2.06
Kuwaiti Dinar KWD 928.09 937.09
Malaysian Ringgit MYR 61.94 62.54
New Zealand Dollar NZD 173.16 175.16
Norwegians Krone NOK 25.88 26.18
Omani Riyal OMR 742.38 750.38
Qatari Riyal ‎QAR 78.38 79.08
Singapore Dollar SGD 222.5 225
Swedish Korona SEK 26.36 26.65
Swiss Franc CHF 313.87 316.35
Thai Bhat THB 8.21 8.36

Today's gold rates in Pakistan | gold price in Pakistan – June 8, 2023

Gold Rate Today:

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 226,500 on Thursday. The price of 10 grams of 24k gold was recorded at Rs194,190.   

Likewise, 10 grams of 22k gold were being traded for Rs178,006 while a single tola of 22-karat gold was being sold at Rs 207,623.

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.

Gold Price in Pakistan: Lahore, Karachi, Islamabad

City Gold Silver
Lahore PKR 226,500 PKR 2125
Karachi PKR 226,500 PKR 2125
Islamabad PKR 226,500 PKR 2125
Peshawar PKR 226,500 PKR 2125
Quetta PKR 226,500 PKR 2125
Sialkot PKR 226,500 PKR 2125
Attock PKR 226,500 PKR 2125
Gujranwala PKR 226,500 PKR 2125
Jehlum PKR 226,500 PKR 2125
Multan PKR 226,500 PKR 2125
Bahawalpur PKR 226,500 PKR 2125
Gujrat PKR 226,500 PKR 2125
Nawabshah PKR 226,500 PKR 2125
Chakwal PKR 226,500 PKR 2125
Hyderabad PKR 226,500 PKR 2125
Nowshehra PKR 226,500 PKR 2125
Sargodha PKR 226,500 PKR 2125
Faisalabad PKR 226,500 PKR 2125
Mirpur PKR 226,500 PKR 2125

Daily Pakistan diligently monitors and updates the current gold rates in Pakistan on a daily basis

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