The US dollar gained seven paisas against the Pakistani rupee in interbank trading on Thursday. The new price of the US dollar is Rs278.70. Virtual discussions between officials from the Finance Ministry and the International Monetary Fund (IMF) mission took place on Tuesday evening, focusing on critical issues of external financing and revenue generation. Despite the ongoing negotiations, no deadline has been established for the approval of the loan by the IMF's Executive Board, according to sources familiar with the matter. During the talks, Finance Ministry officials briefed the IMF mission on the government's efforts to secure external financing. This included updates on loan rollovers and new financing commitments from friendly countries. Sources revealed that a timeline has been provided to the IMF, with expectations for loan rollovers to be completed by next week. The IMF mission emphasized the importance of rolling over $12 billion in debt before the loan can be approved by the Executive Board.

Credit: Independent News Pakistan