Govt decides to resume trade with India
Hammad Azhar, who took over as the country’s finance minister only two days ago, on March 29, said on Wednesday that the government had decided to resume trade with India, reported 24NewsHD TV channel.
Hammad said wheat’s support price had been fixed at Rs1,800 per maund.
He further said that the Pakistani rupee was strengthening against the US dollar.
The minister said he would continue to seek guidance for the betterment of the country’s economy.
Hammad said there was a price hike in the entire world due to coronavirus.
Admitting that increase was witnessed in ghee, sugar and flour prices, the minister expressed the resolve to work tirelessly to bring the prices of all essential items down.
He informed that the government had decided to decrease the prices of petrol and diesel by Rs1.55 per liter and Rs3 per liter, respectively.
Sources told 24News that similarly, the meeting also allowed the import of sugar from the neighbouring country.
Sources disclosed that historic reduction in cotton production this year had also taken its toll on yarn.
Meanwhile, in a tweet, Federal Finance Minister Hammad Azhar has said that Pakistan has successfully released Euro bonds.
Pakistan has very successfully concluded its first ever 3-tranche capital market transaction yesterday. With 5, 10 and 30 yr Eurobonds at 6%, 7.375% and 8.875%, leading global investors showed great confidence in our country's economy and future outlook.— Hammad Azhar (@Hammad_Azhar) March 31, 2021
He claimed that international investors were now reposing their trust in Pakistan’s economy.