Finance Minister Muhammad Aurangzeb said foreign exchange reserves are strong and the exchange rate is stable. It is unlikely that the rupee will fall further in talks with the IMF.
In a roundtable meeting with Bloomberg, the finance minister said that remittances and exports are increasing, there is no reason to further depreciate the rupee, there is no justification for devaluing the rupee more than the traditional 6-8% every year.
Order of the Minister of the Interior to stop mobile SIM cards being issued on expired ID cards
The growth rate of the economy will exceed 4 percent in the coming years. The finance minister said agreement on staffing levels for the new IMF loan is expected in late June and early July, the visit of an IMF mission to Pakistan is expected in May, Pakistan’s economic growth rate is expected to increase in the coming years.
According to Bloomberg, the finance minister expressed concern about the rise in global oil prices and added that the government is trying to develop industry, agriculture and information technology. The deal will improve Pakistan’s international dollar bond and equity markets.
Mari Petroleum Company discovered a large gas deposit in Sindh
Earlier, Finance Minister Muhammad Aurangzeb in a meeting with US Deputy Secretary Donald Lowe in Washington highlighted the improvement of Pakistan-US economic partnership.
According to the Ministry of Finance, the meeting was held at the World Bank headquarters in Washington, the political commitment to strengthen Pakistan-US relations was expressed at the meeting.
Alternative sources of energy, agriculture, measures against climate change were discussed, emphasis was placed on improving the quality of the Pakistani-American economic partnership.
