Govt finds itself in tough position as there are risks attached either with or without the IMF deal.
MEFP is exchanged.
IMF chief in Pakistan tells TTI “still working” on deal.
Economy
This promising growth was achieved on the back of 27 banks offering app-based banking along with other entities offering innovative payment solutions for accepting digital transactions.
The rupee’s slide against the US dollar continues despite a number of measures introduced by the State Bank to ease the pressure on the exchange rate.
The State Bank said that reserves decreased mainly due to external debt repayments that included $1 billion against Pakistan International Sukuk.
Tarin, left behind Finance Secretary Yousaf Khan to further pursue the talks for the resumption of a $6 billion loan facility that would bring an immediate relief to the cash-starved government by delivering a suspended tranche of $1 billion.
SBP chief said that every economic policy benefitted and disadvantaged some people, so when mention was made of those who suffered then “we should not forget those who are benefitting.”
PM Imran Khan directs relevant authorities to draft a petrol subsidy plan for the low-income segment.
Governor Sindh says plan to give petrol at subsidised rate will be presented next week.
Sources inform Geo News that during the meeting it was decided to form committees to reduce inflation.
Advisor to the Prime Minister on Finance and Revenue Shaukat Tarin said both sides are making the last-minute endeavor to sign the Memorandum of Economic and Financial Policies