Finance Minister Asad Umar has claimed that there is no chance of further rupee devaluation
Karachi (Pakistan Point News / Online - 05th April, 2019) Finance Minister Asad Umar has claimed that there is no chance of further rupee devaluation.While addressing a seminar at pakistan stock exchange through video link in Karachi, Federal minister said that value of rupee has become harmonized with the market that was kept artificially high and State Bank of Pakistan also said the same thing.Finance minister said that rumors should not be spread in this regard and rupee should not be wasted by purchasing Dollar.
Minister said that government has taken very difficult decisions as usually change is not liked and destruction also occurrs with this, however we want to go side by side with the world system.He said change should be introduced step-wise.Umar said that talks have not taken place with the IMF on the level of exchange rate.We have to transfer our rules upon the best procedures of the world and we have to come out from government thinking.He said Pakistan is the economy of 300 billion Dollars while the world is the market of trillion dollars.He said Pakistani market is more regulated then needed.
