Pakistani rupee fell to an all-time low against the dollar on Tuesday when it closed at Rs 222 in the interbank market, as the coalition government announced to complete its term.
A high-level huddle of the nine-party alliance meeting in Lahore chaired by Prime Minister Shehbaz Sharif to ponder over the stunning victory of their common nemesis Pakistan Tehreek-e-Insaf (PTI) of Imran Khan in the Punjab bye-election on Sunday.
Addressing a press conference after the meeting, Railway Minister Saad Rafique said the coalition government had the right to complete its term.
The federal government will complete its term and will work for the country's betterment. There should be no doubt about this, he said.
The minister's statement came as the dollar went up by Rs 8.8, or 4 per cent, in a day to reach Rs 224 during the day, according to the Forex Association of Pakistan (FAP), but later recovered slightly and closed at Rs 221.99, appreciating 3.1 per cent, according to the State Bank of Pakistan (SBP).
Former premier Imran Khan, lashing out at the government, said the dollar was at Rs 178 when his government was removed through an alleged US regime conspiracy.
Today it is Rs 224 and in free fall despite the IMF agreement. The economic meltdown shows Sharifs never had any expertise in running the economy or administration. Their only expertise is looting, money laundering and getting NROs (concessions), he tweeted.
The government is under pressure after failing to get the...
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