PPP asks government to present IMF deal in parliament
May 20, 2019
ISLAMABAD (92 News) – Pakistan Peoples’ Party (PPP) stalwart Khursheed Shah on Monday demanded from the government to present the agreement signed with the International Monetary Fund (IMF) in the parliament. Talking to the journalists, Khursheed Shah criticized the PTI government and claimed that Prime Minister Imran Khan has taken the economy of the country to a level which is a challenge for all. “Running a government is the domain of politicians but not a selected person can do.” Pointing to the government, he said that their agenda is only to devastate the people and remain in government. The PPP leader affirmed that his party is trying to improve the situation, not to impair it. “We are talking about improving the affairs of governance, not disrupting them,” he said. He said the opposition has no other way except to come to the same page. Explaining about the current IMF deal, he said that in the past Pakistan’s budget was prepared with consultation of the IMF, now the IMF will prepare the budget for Pakistan on its own.
US dollar increases by Rs1.63, reaches Rs149.50 in interbank market
The US dollar further increased by Rs1.63, reaching Rs149.50 in the interbank market. On the other hand, Pakistan stock market could not be stabilized and witnessed a decline on first day of the week. 100 index plummeted to 32,400 with a decrease of over 800 points. On May 18, the US dollar price further increased by Rs1.35 in the interbank market and touching the all-time high value of Rs147.87. Moreover, the US$ reached Rs151 in the open market with an increase of Rs4 .After the increase in the dollar rate, the stock exchange also declined to 804 points, with 100 index reaching 33,166. On Thursday, the dollar that valued at Rs141.5 climbed roughly Rs6.51 and reached approximately Rs148 in the interbank market during trading before closing at Rs147.10. The IMF bailout package has started destroying the economy instead of supporting it. After the approval of the bailout package, the dollar price is skyrocketing while the stock market is witnessing a decline daily. The action taken by Prime Minister Imran Khan failed to yield any result. During a meeting with a delegation of the Exchange Companies Association on Wednesday, the prime minister had ordered action against the companies selling the dollar at a high rate.