No violation of IMF agreement

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Hours after the International Monetary Fund insisted on sticking to policy commitments made by Pakistan, a top government official said that the country had not breached the agreement with the Fund, saying “any shortfall in petroleum levy will be adjusted in coming months”.

According to a media report, Minister of State for Finance and Revenue Dr Aisha Ghous Pasha gave the statement on the floor of the National Assembly Standing Committee on Finance.

The committee discussed the burning issue of currency manipulation by certain banks and whether the State Bank of Pakistan had taken any action to correct the course. However, neither the central bank nor the Ministry of Finance gave a satisfactory reply about the action taken against the banks.

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