Pakistan prepares for further hike in electricity, gas prices ahead of IMF board meeting

11:29 PM | 22 Nov, 2023
Pakistan prepares for further hike in electricity, gas prices ahead of IMF board meeting

ISLAMABAD - The meeting of the IMF Executive Board is expected on December 7 for the approval of staff-level agreement and next tranche of 700 million dollars bailout funds for Pakistan.

On the other hand, the caretaker government has reportedly decided to prepare an economic blueprint for the new government to continue the economic policies.

In this regard, the Ministry of Finance and Resources says that discussions on a new loan program can begin with the IMF.

According to media reports, preparations are being made for further increase electricity and gas prices before the IMF executive board meeting, digital markets, property and real estate sector will also be brought into the tax net.

Reports suggest that a 25 billion dollars financing will be availed from Gulf countries, China and commercial banks to meet the external financing needs of this financial year.

The caretaker government has assured the IMF that the general elections will be held on time, while China has assured further debt rollover for two years.

It is to be mentioned here that IMF executive board meeting for 700 million dollars tranche is expected on December 7. 

Daily Pakistan Global Web Desk


Pakistani rupee exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 27 Feb 2024

Pakistani currency remains largely stable against US dollar in the open market on February 27, 2024 (Tuesday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.4 for buying and 282.3 for selling.

Euro currently stands at 303 for buying and 306 for selling while British Pound rate stands at 351.5 for buying, and 355 for selling.

UAE Dirham AED hovers at 76 whereas the Saudi Riyal saw slight increase, with new rates at 76.7.

Today’s currency exchange rates in Pakistan - 27 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.4 282.3
Euro EUR 303 306
UK Pound Sterling GBP 351.5 355
U.A.E Dirham AED 76 76.7
Saudi Riyal SAR 74.2 75
Australian Dollar AUD 181 183
Bahrain Dinar BHD 742.91 750.91
Canadian Dollar CAD 207 209
China Yuan CNY 38.82 39.22
Danish Krone DKK 40.56 40.96
Hong Kong Dollar HKD 35.7 36.05
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 905.46 914.46
Malaysian Ringgit MYR 58.49 59.09
New Zealand Dollar NZD 173.05 175.05
Norwegians Krone NOK 26.36
Omani Riyal OMR 725.54 733.54
Qatari Riyal QAR 76.74 77.44
Singapore Dollar SGD 207 209
Swedish Korona SEK 27.04 27.34
Swiss Franc CHF 317 319.5
Thai Bhat THB 7.76 7.91


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