Karachi September 26 2022: Pakistan Rupee gains 2.42 against dollar as former finance minister Ishaq Dar becoming Pakistan's New finance minister in place of Miftah Ismail amid USD 2 billion assistance for flood victims and indication of soften stance of IMF.
Pakistan’s Prime Minister Shahbaz Sharif has nominated Ishaq Dar for the post of the new federal finance minister.
Pakistan Rupee gains 2.42 in interbank to trade at PKR 237.08 against dollar.
According to the statement issued by the ruling party Muslim League-N, Miftah Ismail submitted his resignation to the leader of the Muslim League (N) Muhammad Nawaz Sharif at the important party meeting in London under the chairmanship of Muhammad Nawaz Sharif.
According to the written statement, “Quaid Nawaz Sharif and Prime Minister Shehbaz Sharif nominated Senator Ishaq Dar as the Finance Minister.”
World Bank will repurposing USD 2 billion funds from existing World Bank-financed projects to support urgent needs in health, food, shelter, rehabilitation, and cash transfers.
International Monetary Fund agreed to relax program conditions of current Extended Fund Facility for Pakistan due to recent floods says Pakistan’s Finance Minister.
He added, “Fund has also agreed to enhance the size of the next tranche while we expect to receive USD 2 billion from World Bank by the end of this year.”