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.
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 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 |
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.
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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