On Wednesday (today), USD to PKR or Dollar rate in Pakistan broke all previous records.
Under the IMF bailout, Pakistan have no choice but to concede to the IMF’s demands to hike power tariffs and taxes and withdraw tax concessions and exemptions – which are among the conditions that the country has accepted to secure the loan.
In April, former Finance Minister Asad Umar revealed that IMF loan to Pakistan is now finalized and will be around $6 to 8 billion. He further added that the talks with the World Bank and IMF were positive. However, Pakistan will receive the funds from the Asian Development Bank and World Bank.