New Pakistan finance minister vows to tame inflation and cut interest rates

Ishaq Dar says no one will be 'allowed to play' with currency market, sees Pakistan's rupee currency is undervalued

Pakistan's new finance minister Ishaq Dar said on Wednesday he will work to rein in inflation while cutting interest rates, saying the rupee currency was undervalued and promising a strong response to the South Asian nation's worst economic crisis.
 

In his fourth time in the job, the chartered accountant is facing a balance of payment crisis, foreign reserves that cover barely a month's imports, historic lows in the rupee, inflation exceeding 27% and the aftermath of devastating floods.
 

"We will control inflation," Dar told reporters in televised comments after he was sworn in.
 

"We will bring interest rates down," he