The US dollar registered a meager gain against the Pakistan rupee in the interbank market on Wednesday. According to the information received from forex dealers, the local currency depreciated by eight paisas and was currently being traded at Rs285.60. On Tuesday, the Pakistani rupee had recorded a minor gain against the US dollar as it appreciated 0.04% and settled for the day at Rs285.52, an increase of 12 paisas. In a related development, a technical team of the International Monetary Fund will meet the officials of petroleum division to discuss the petroleum levy and other revenue measures. The IMF team is currently on Pakistan visit. During their visit, the IMF officials will review the government’s tax policy. I Sources said that the IMF team requested to meet the petroleum division officials. The meeting will be held on November 30 in which petroleum levy and other revenue measures will be considered. The government has made 368% increase in the collection of petroleum levy on an annual basis from July to September 2023.

Credit: Independent News Pakistan (INP)