Ishaq Dar expressed helplessness over the rising value of the dollar

 It was expected that the dollar will come to 200 rupees, but the rate of the dollar cannot be fixed. Finance Minister's speech

Wednesday 30 November 2022

Karachi (news world Latest News. November 30, 2022) Federal Finance Minister Ishaq Dar expressed helplessness over the increasing price of the dollar. While talking to the media in Karachi, he said that it was expected that the dollar will come to 200 rupees, but they cannot fix the rate of the dollar. Dollars are being smuggled in Afghanistan and they are trying to stop this smuggling. In response to a question, the finance minister said that the payment date for the one billion dollar sukuk bonds is December 3 to 5, and will not delay the sukuk payments, as doing so will affect the country's reputation in the international market.

Earlier, in a speech at a seminar in Karachi, Ishaq Dar said that the country's economic system is important for economic development. We have become accustomed to spending more than our income. We have to grow and cut costs, we have to develop the business of mutual funds and insurance.

He said that the State Bank and the National Bank filed an appeal against the court decision on the usury system, I was concerned about both the government institutions because Shariat has prohibited usury, everyone should fight for an usury-free society. It has to be done, since 2016, the measures to promote Islamic banking stopped.

The finance minister said that the use of banking services has become a necessity of the modern era, transparent transactions can be ensured through the banking system, the country is determined to end the usury system, since the first period of the Islamic government, we have Efforts have been made for banking, the Islamic banking system has expanded more than 10 times in a few years, currently Islamic banking has become 20 to 25 percent, in 5 years the banking system can be converted to Islamic banking.