The naira, which has been weakening on the over-the-counter spot and derivatives markets, dropped to a low of 403.29 naira on Thursday after reaching record intra-day lows since January.
The central bank did not agree with the need for additional exchange rate adjustment.
Under the Agreement, at the request of the Government of Pakistan, in the larger national interest and sectoral sustainability, the future O&M savings and heat rate efficiency, shall be shared by the Parties.