Pakistan Faced $60 billion Loss By Keeping Dollar at Rs. 94 Previously: Shaukat Tareen

Shaukat Tarin claimed on Monday that the previous Pakistan Muslim League-Nawaz (PMLN) government artificially fixed the dollar at Rs94, costing Pakistan $60 billion.

During a meeting of the National Assembly’s Standing Committee on Finance, he expressed his views.

Ahsan Iqbal stopped the meeting and objected to Tarin’s tone, saying that the minister could not speak in such a manner. He wondered if exports would grow if the value of the local currency was reduced by 40%.

The State Bank of Pakistan (SBP) Amendment Bill 2021 was approved by the National Assembly Standing Committee on Finance with three main modifications, including an addendum prohibiting dual nationals from serving as governor and a two-year ban on serving in other foreign financial institutions.