AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.04 No Change ▼ 0.00 (0%)
BOP 6.67 No Change ▼ 0.00 (0%)
CNERGY 4.51 No Change ▼ 0.00 (0%)
DCL 8.55 No Change ▼ 0.00 (0%)
DFML 41.44 No Change ▼ 0.00 (0%)
DGKC 86.85 No Change ▼ 0.00 (0%)
FCCL 32.28 No Change ▼ 0.00 (0%)
FFBL 64.80 No Change ▼ 0.00 (0%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.57 No Change ▼ 0.00 (0%)
HUMNL 14.68 No Change ▼ 0.00 (0%)
KEL 5.05 No Change ▼ 0.00 (0%)
KOSM 7.46 No Change ▼ 0.00 (0%)
MLCF 41.38 No Change ▼ 0.00 (0%)
NBP 60.41 No Change ▼ 0.00 (0%)
OGDC 190.10 No Change ▼ 0.00 (0%)
PAEL 27.83 No Change ▼ 0.00 (0%)
PIBTL 7.83 No Change ▼ 0.00 (0%)
PPL 150.06 No Change ▼ 0.00 (0%)
PRL 26.88 No Change ▼ 0.00 (0%)
PTC 16.07 No Change ▼ 0.00 (0%)
SEARL 86.00 No Change ▼ 0.00 (0%)
TELE 7.71 No Change ▼ 0.00 (0%)
TOMCL 35.41 No Change ▼ 0.00 (0%)
TPLP 8.12 No Change ▼ 0.00 (0%)
TREET 16.41 No Change ▼ 0.00 (0%)
TRG 53.29 No Change ▼ 0.00 (0%)
UNITY 26.16 No Change ▼ 0.00 (0%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 10,010 Increased By 126.5 (1.28%)
BR30 31,023 Increased By 422.5 (1.38%)
KSE100 94,192 Increased By 836.5 (0.9%)
KSE30 29,201 Increased By 270.2 (0.93%)
Print Print 2022-05-06

KSA urged not to withdraw its deposits: Miftah

  • Finance Minister Miftah Ismail says former Prime Minister Imran Khan’s economic team misguided the nation on talks with IMF
Published May 6, 2022

KARACHI: In a bid to strengthen the country’s economy and foreign reserves, the Pakistan government has requested the Kingdom of Saudi Arabia (KSA) not to withdraw its deposits worth $3 billion in the State Bank of Pakistan (SBP) until the end of this year, said Finance Minister Miftah Ismail on Wednesday.

Last year, Saudi Arabia had deposited $3 billion in the SBP to help support Pakistan’s foreign currency reserves.

Addressing a press conference here, Miftah Ismail said that former Prime Minister Imran Khan’s economic team misguided the nation on talks with IMF.

“An IMF delegation will visit Pakistan in next few days,” he said, adding that they will show how to make things better and reduce inflation.

“Khan’s team said something during talks with IMF and told something else to the people in the county,” noted the finance minister. Lashing out at the past regime, he claimed that the Imran Khan-led government made new records of corruption and planted landmines in the economy.

Pakistan, Saudi Arabia to discuss augmenting kingdom's $3 billion deposit

Moving toward his government’s progress, the minister said that sugar is being sold at the lowest rate in the country since 2019. He maintained that the commodity is available at Rs70 per kilogram at the Utility Stores. The price of 20kg wheat bag has been slashed to Rs800 from Rs1200. The price of ghee has been reduced by Rs200 per kg.

Khan will have to answer why Shahzad Akbar turned a blind eye to the sugar scam, he added. In addition to this, Miftah Ismail said that the government had improved the electricity situation in the country. The finance minister said that they have no plan to curtail the powers of the SBP.

He maintained that the housing schemes of the previous government will continue. On April 24, Finance Minister Miftah Ismail had said that the International Monetary Fund (IMF) has agreed to send its mission to Pakistan in mid-May 2022 for continuation of its Extended Fund Facility (EFF) programme.

He had said at a press conference in Washington that the Fund had agreed to extend the programme for a year.

Comments

Comments are closed.

Tariq May 06, 2022 08:05am
He is lying, the price of flour is 2400 per kg and nan is selling at 24
thumb_up Recommended (0)