Devaluation of Pak Rupee, Pakistan ready to go to IMF

The Government of Pakistan is engaged in the final stages of negotiations for long-term debt program with the International Monetary Fund (IMF)

The Government of Pakistan is engaged in the final stages of negotiations for long-term debt program with the International Monetary Fund (IMF)

Karachi … News Time

The value of rupee has been declined, while the value of rupees less than the US dollar reduced by 49 paise. The situation of rupture of rupees has become serious at a time when the government is engaged in the final step of negotiating a long-term loan program with the International Monetary Fund (IMF). During the last three weeks, the value of rupees has been recorded at Rs 1.6 or 2.24. IMF has asked Pakistan to reduce the government’s power in the value of rupees so that they could freely compete against the rupees, US dollars and other important currencies of the world. Apart from this, the World Bank, which supports various projects in Pakistan, is also proposing that the rupee should be released free. Immediate business person Arif Habib said in an interview that it seems like Pakistan is ready to go to IMF. A day before, federal finance minister Asad Umar also admired that the agreement between the government and the IMF is going to be. Sources say that the final decision in this regard will be after the IMF meeting which will be held in the third week of April.

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