*The financial noose around the neck of the Pakistani people has tightenedfurther as the government increased the petrol prices by Rs.60 per litre intwo spurts of activity bringing the **price to Rs.210 per litre.*
This price level is near the price demanded by the IMF of Rs.245 per litreand may well be brought to this level in the incoming budget.
On the other hand, the rupee maintained its upward drive and gained another59 paisas against the US dollar in the interbank market.
The local currency has recovered Rs.4.14 in the last four sessions afterhitting an all-time low at Rs.202.01 on 26 May and is now valued atRs.197.87.
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[image: Finance Minister Miftah Ismail Pakistan Petrol IMF budget]
As the financial year is coming to close it appears that the FBR has pickedup its tax collection efforts and in the process has come near the revisedtarget of tax collection set for 2021-22.
