According to details, Miftah Ismail, addressing a press briefing on Wednesday, said that there are some factors that have contributed to the drop in PKR value. The Finance Minister said that the rise in the dollar rate is caused by political instability and the international rise in USD rates. Imports decreased by 5.3 in March and reserves were $10.3 billion, he added.
last month the import bill was $7.4 million and imports worth $2.6 were made in the month of July which has improved the trade deficit. The local currency has been under pressure due to the increasing imports, he added. Miftah Ismail claimed that the IMF deal is almost finalized, World Bank and other friendly countries would provide the country with financial aid as soon as the IMF transaction is made.