No probability of further rupee devaluation, says Asad Umar

ISLAMABAD - Finance Minister Asad Umar says the incumbent government has taken various difficult decisions in the larger interest of the country.

Addressing a ceremony at Pakistan Stock Exchange in Karachi by video link from Islamabad, the finance minister said that there is no probability of further rupee devaluation.

Umar said, "Rupee's value is in tune with the market and the State Bank of Pakistan has also said that is in equilibrium. In the past, rupee was kept artificially high."

Asad Umar rejected that the issue of exchange rate level was discussed with IMF, adding that rumours should not be spread and don't waste money by buying dollars.

He said work on National Finance Commission (NFC) has also been started.