Islamabad October 5 2022: Pakistan Rupee is undervalued at this moment on basis of every model and it will be strengthened to below 200 against the dollar by end of this month says Pakistan’s Finance Minister Ishaq Dar.
He was speaking to Private News Chanel program Nadeem Malik Live here at Islamabad.
This is the first time that he announced the timeline for dollar to be below 200 level. State Bank of Pakistan will take strict action against those banks which are involved in speculation of currency. read more
In the last eight consecutive session rupee gains PKR 14.07 or 6.2% from recent low of 239.71. read more
Finance Minister expects inflation to be in the range of 12-14 percent by end of this fiscal year, which runs from July to June.
He added, “He expects no Rapid Financing Instrument from IMF this time around for flood relief and they are committed to complete the current program which is going to end by June next year.”
“I am not in favor of rescheduling of debt from Paris Club as all our financing needs for the current year including additional imports needed to cover losses of floods is fully covered” Finance Minister said. read more
