No need to purchase dollar, govt won’t devalue rupee further: Asad Umer
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KARACHI: Finance Minister Asad Umar on Friday said I don’t know why the people are purchasing dollar and assured that there is no reason for any further devaluation in the rupee.
Talking at Pakistan Stock Exchange in Karachi by a video link from Islamabad, Asad Umar said, “the State Bank of Pakistan had also said that there was no demand in the market and the dollar should be reversed. “Rupee’s value is in tune with the market,” he added.
“Rumours should not be spread and don’t waste money by buying dollars,” urged finance minister. “We have not settled with the International Monetary Fund (IMF) regarding the exchange rate level,” he clarified.
The finance minister said, “the government has taken various difficult decisions in the larger interest of the country. We want to work according to the system worldwide and change should be introduced stage-wise.” “Work on National Finance Commission has also been started,” he further said.
According to Malik Bostan, “the central has asked the money changers that there was no need to devalue the Pak rupee, and now it should be down.”
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