PID

PR No.128 Islamabad

The Federal Minister for Finance Senator Mohammad Ishaq Dar today announced that the Foreign exchange reserves of the country have reached the new historic high of $24.5 billion.

The Finance Minister on the occasion congratulated the Prime Minister and the Nation on this achievement. “There was a time when the country had reserves equal to a few weeks payment of the import bill but now, with the grace of the Almighty, we have reached a level where we have foreign exchange reserves equal to 6 months of import bill” said the Finance Minister. The Minister also told that out of the total, SBP has $19.5 billion whereas commercial banks have $5 billion of these reserves.

The Minister also said that we have worked really hard to reach this new level of reserves. Pakistan is not what it was three years ago, the country is more stable and the international investors see Pakistan as new destination for their investments. He added that all this has happened with the constant hard work and team effort under the leadership of the Prime Minister.

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