Pakistan’s forex reserves touch new historic high of $24.5 billion

Government of PakistanPakistan’s forex reserves touch new historic high of $24.5 billion

ISLAMABAD, Pakistan: Minister for Finance Senator Muhammad Ishaq Dar here on Friday announced that the Foreign Exchange reserves of the country have reached the new historic high of $24.5 billion.

In a statement, the Finance Minister congratulated Prime Minister Nawaz Sharif 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 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 informed that out of the total, State Bank of Pakistan (SBP) has $19.5 billion whereas commercial banks have $5 billion of these reserves.

“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 said adding all this had happened with the constant hard work and team effort under the leadership of the Prime Minister.

Source: APP

Mati
Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

Must read

Recent News

US Embassy in Islamabad awards $20,000 in seed funding to women entrepreneurs

0
ISLAMABAD, Pakistan: The US Embassy in Islamabad has announced the winners of US$ 20,000 in seed grants to participants in the Embassy’s Academy for...

25 Kharji terrorists killed, 11 injured in Tirah: ISPR

0
RAWALPINDI, Pakistan: The security forces have killed 25 terrorists of Fitna-Al-Khwarij including Kharji ring leader Abuzar alias Saddam and injured further 11 in Tirah...

Interbank Dollar Rate Today in Pakistan – 27 August 2024

0
Interbank Exchange Rates in Pakistan The Interbank Closing Exchange Rate in Pakistan has been issued by the State Bank of Pakistan (SBP) for August 27,...

Rain with thunderstorm expected in Punjab & Sindh in next 36 to 48 hours

0
NDMA issues alert to relevant departmentsISLAMABAD, Pakistan: The National Emergency Operations Center (NEOC) of NDMA anticipated more rain, thunderstorm with gusty winds in...

Membership Free of Islamabad Club

0
The Islamabad Club is functioning under the ambit of Islamabad Club (Administration) Ordinance No. XXXIII 1978 and the Islamabad Club Rules & Regulations made...
Advertisement