IMF demands Pakistan adjust dollar exchange rate according to the market

IMF demands Pakistan adjust dollar exchange rate according to the market

The International Monetary Fund (IMF) has asked Pakistan to adjust the exchange rate of the dollar to the market and remove the artificial restriction.

According to sources in the Ministry of Finance, Federal Finance Minister Ishaq Dar will meet the IMF delegation on the sidelines of the Geneva Conference, in which there will be a discussion regarding the IMF program.

Sources of the Ministry of Finance say that the IMF demands that Pakistan should adjust the exchange rate of the dollar according to the market, and remove the artificial restriction on the exchange rate.

According to the sources, Pakistan has to give a planthe to collect petroleum levy of 855 billion rupees by 30 June 2023, for which the levy on diesel must be immediately increased from 32.5 rupees to 50 rupees per liter, circular debt of 1500 billion rupees must be abolished in the gas sector for which gas The rates will have to be increased.

Sources from the Ministry of Finance have said that the IMF wants to end subsidies, the IMF is also demanding an increase of 300 billion rupees in tax revenue, and Pakistan will have to increase electricity rates to reduce electricity losses. has demanded to increase in the per unit rate by 3.5 rupees.

According to sources, Finance Minister Ishaq Dar will request relief from the IMF, and The Finance Minister will also meet the MD of the IMF.

Thanks for reading. Please keep in touch with us for the latest news.