ISLAMABAD – Pakistani Rupee is likely to hit Rs 150 mark against US dollarif the bailout package deal with the IMF is inked, it has been reported.

A senior economist has claimed that the Rupee will further lose its valueagainst the Dollar if Pakistan agrees on International Monetary Fund’s(IMF) current demands for a bailout package.

“If the government chooses to receive IMF’s bailout package, there would beno choice but to let the rupee further nosedive against the dollar. Itwould easily settle at Rs. 150,” a senior economist Ashfaq Yousuf Tola saidon Sunday while addressing a tax seminar in Karachi.

He said that the Pakistani currency has already deprecated 31 percent inthe last six months, and will further lose value, in case of an IMFbailout. This will add billions of dollars to the country’s external debt,Tola continued.link

The IMF package has several disastrous consequences, and the rupeedevaluation is one of the many. If the government had to go to IMF, theexternal debts would rise to Rs. 45, 000 billion by 2021.

“Although Pakistan is the fourth largest exporter of cotton and thirdlargest exporter of yarn, our garment industry is going down which was analarming situation,” he mentioned.