State Bank Governor Jameel Ahmed has said that the IMF deal is close to finalization.
Speaking during the meeting of the Senate Standing Committee on Finance, State Bank Governor Jameel Ahmed said that the inflow of foreign exchange from abroad will increase after the agreement with the IMF.
Jameel Ahmad says that after the IMF agreement, the foreign reserve will improve due to the improvement of dollar inflow. The reserves of the State Bank will be 4.3 billion dollars by the end of next week. And the annual inflation rate of this year will 26.5% as estimated.
He states that last financial year the import of petroleum products was 9.7 billion dollars. In the first 7 months of the current financial year, imports of 11.3 billion dollars have made. In the last 2 months, edible oil worth 600 million dollars imported.
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The Governor of the State Bank said that more than 2.4 million dollars have been paid this fiscal year, the inflow of dollars was less than the outflow compared to previous years.
Governor State Bank says that remittances have decreased by 2 billion dollars this year, remittances have decreased from 18 billion dollars to 16 billion dollars.
He also say that the main reason for importing edible oil was the needs of Ramadan, and are in touch with all law enforcement agencies to prevent the smuggling of dollars.