Karachi August 16 2023: Pakistan Rupee fall in interbank as caretaker prime minister in the process of formation of the caretaker cabinet.
Pakistan Rupee fall PKR 3.5 or 1.18 percent to trade at PKR 295.0 (PST 13:50) in interbank against the dollar. Yesterday, Rupee slip by 1.04 percent to close the day at PKR 291.51 in interbank.
In open market rupee is trading at PKR 303.5 after falling PKR 1.5 in today’s session against Dollar (PST 13:50).
IMF stressed market determination of the exchange rate and is expected to ensure that the interbank–open market premium remains within a ±1.25 percent range on average. However, the gap of interbank rate is widen to more than 2 percent when compared with rate of Dollar trading in Open Market.
Caretaker Prime Minister Anwaar-ul-Haq Kakar on Tuesday said that the government would ensure continuity in the economic policies, besides further improving them.
He said that further enhancement of foreign investment under the Special Investment Facilitation Council (SIFC) was among the top priorities of the caretaker setup.
He also directed for expediting ongoing reforms in the power sector and strict implementation of measures for increasing tax revenues.
Anwaarul Haq Kakar has started consultations for the formation of the caretaker cabinet, even as former ruling coalition members, particularly PML-N, expressed reservations over his ‘surprise’ selection to lead the interim set-up.
