The Pakistani Rupee Has Fallen to Historic Lows World Wide

The Pakistani Rupee Has Fallen to Historic Lows World Wide

KARACHI: The Pakistan Rupee Started to fall Again on Thursday After two Modest Sessions. The Pakistan Rupee fell by Rs 2.52 to Settle at Rs 271.35 at the End of the day. However, the Local Currency Touched 272.17 Against the Dollar During Intra-day Trading, Geo News Reported.
All said the reports raised suspicions that the Government-IMF talks were stalled,Geo News reported.
The rupee closed at Rs268.83 on Wednesday. Geo News reported that the rupees has depreciated by Rs 44.92 since the beginning of this year. An IMF mission is currently in Pakistan discussing the ninth review which will continue until February 9 after which a staff-level agreement is expected between the two sides. 
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Capital market Expert Said Ali Said the Report on the Rejection of the Circular Debt Management Plan (CDMP) submitted by the Government to the International Monetary Fund (IMF) has Dampened Market Confidence. 
Hence, the government will have to make further changes in its policy prescription to limit the erosion of the cash- bleeding power sector. On the second day of technical level talks, the Washington-based lender called the revised CDMP “unrealistic”, based on some misconceptions. The IMF and the finance Ministry will create a crackdown on the fiscal front after which various additional tax measures will be finalized through the upcoming mini budget. 
The IMF rejected the CDMP presented by the government and asked the authorities to increase the electricity tariff by Rs 12.50 per unit to limit the additional subsidy to Rs 335 billion for the current fiscal year. 
 
Geo News reported that the revised CDMP plans to increase the circular Debt monstrosity to Rs 952 billion for the current financial year. 

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