The Pakistani rupee (PKR) on Tuesday made a recovery against the US dollar in the Inter market.
According to the State Bank of Pakistan (SBP) report, the local unit gained Re0.11 against the greenback to close at Rs283.92 in the interbank market. The greenback had closed at Rs284.03 a day earlier.
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Earlier day in the Open market the Dollar was selling for 284.03 rupees now today at the closing of the day the dollar was selling at 283.92 rupees.
Earlier International Monetary Fund (IMF) raises concerns about the petrol subsidy scheme announced by Prime Minister Shehbaz Sharif.
International Monetary Fund (IMF) resident representative Esther Pérez Ruiz said that the government of Pakistan has not consulted with the fund on the petrol subsidy scheme.
“The IMF sought more details about the scheme from Pakistan.” Esther Pérez Ruiz said the IMF has already rejected unfunded and untargeted subsidies.
The IMF official said Pakistan has made much progress in the revival of the stalled loan programme.
