The Pakistani rupee went up marginally against the US dollar in the interbank market on Wednesday, a day after warding off pressure from the world’s leading currency, reported 24NewsHD TV channel.
According to the State Bank of Pakistan, the rupee appreciated by 15 paisas against the greenback and ended the day at Rs280.10.
On Tuesday, the Pakistani rupee remained even against the US dollar as it settled for the day at Rs280.25, only one paisa down.
Meanwhile, ahead of the final review next month with the International Monetary Fund (IMF) of the ongoing $3 billion Stand-By Arrangement, the Power Division has confirmed to have finalised a plan to reduce power tariffs for the industrial sector to revive economic activities, create job opportunities and address circular debt challenge.
Testifying before the Senate Standing Committee on Power, Secretary-In-Charge Power Division Asad Rehman Gilani said working had been completed on bringing down the industrial tariff to 9 cents per unit which currently stands at 14 cents.
He told the panel that a review of industrial tariffs was important to run the industry, adding that this would help job creation and address circular debt among various entities.
Reporter Ashraf Khan