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The State Bank’s own reserves witnessed a notable decline, falling by USD 114.8 million to reach USD 7.39 billion. In the preceding week, the central bank’s reserves were at USD 7.504 billion. This reduction in the SBP’s reserves highlights a challenging economic environment that Pakistan is currently navigating.

Chief Justice Faez Isa made it clear that if anyone refuses to appear before the commission, they could be subject to arrest. Asad Alam inquired whether former ISI DG, Chief Justice, or Prime Minister could be summoned. Justice Athar Minallah advised against tasks that involve using the power of initiating suo-motu notices, which had been misused in the past. He suggested refraining from actions that had been exercised using self-initiated notices in the past.

Nathen Porter acknowledged the government’s persistent efforts to fulfill the three-month targets of the program, recognizing Pakistan’s endeavors in meeting these objectives. He commended the positive outcomes achieved at the technical level as a result of the collaborative efforts between both teams. Porter highlighted that extensive discussions had taken place on various aspects of the SBA, providing comprehensive oversight.

The IMF Managing Director, Kristalina Georgieva, emphasized the importance of tax collection in Pakistan, labeling it as the most critical issue. She urged the Pakistani government to increase its tax revenue, suggesting that a minimum of 15% of the Gross Domestic Product (GDP) should be collected to sustain economic activities.

Solangi’s gold holdings are valued at Rs. 70,000, and he owns a car valued at Rs. 1.2 million. His cash holdings include Rs. 189,300, and his wife holds Rs. 269,300 in cash. Furthermore, Solangi has Rs. 319,000 in bank accounts and furniture valued at Rs. 1 million.

During the briefing, Finance Minister Shaukat Tarin informed that negotiations with the International Monetary Fund have reached the staff level, and it is expected that the IMF’s Executive Board will soon grant approval.