Political anarchy is reason behind depreciation of rupee in two days: Miftah Ismail
ISLAMABAD (92 News) – Finance Minister Miftah Ismail has said that the political anarchy is the main reason behind depreciation of rupee in two days.
Addressing a press conference on Wednesday, he said that the government had tried to reduce imports in April and it started yielding positive results. "The current account deficit has reduced to a significant level due to increase in the imports and remittances," he maintained.
Earlier in a tweet, he said that there has been 20 percent reduction in imports during current month as compared to corresponding period last year.
He also appreciated State Bank of Pakistan's measures in this regard.
Imports to July 18 have been $2.6b, 20% below last year. We will end the month at $5.5b. The runaway imports from last year have come under control this month thanks to SBP measures. Will continue with these measures in the near term to ensure imports & CAD remain under control.
— Miftah Ismail (@MiftahIsmail) July 20, 2022
