Pakistan’s foreign reserves cross US$ 15 billion: Finance Minister

BusinessPakistan's foreign reserves cross US$ 15 billion: Finance Minister

LAHORE, Pakistan: Federal Finance Minister Senator Ishaq Dar said on Wednesday that country’s foreign exchange reserves had crossed US$ 15 billion due to dynamic policies being pursued by the government and hoped it would reach to US$ 21 billion in coming days.

Addressing the tax officers in the Federal Board of Revenue office here, he said the government had to turn towards the International Monitory Fund (IMF) for paying back old debts taken by previous governments.

He said that sustained economical growth would make Pakistan an economically sovereign state by 2018.

Saluting to FBR team and tax officers for their tremendous performance for the year 2014 and 2015 regarding tax collection, Ishaq Dar said the FBR did the work in two years instead of four years, in collecting huge amount of tax and bringing thousands of people into tax net.

Expressing satisfaction over the FBR officers’ performance, he stressed for fixing more difficult and aggressive target of tax collection for next year.

Dar said the PML-N government had to take tough and unpopular decisions of tax collection, and the nation would enjoy its fruits in days to come as famous economists of the world had declared Pakistan as “a state set to take off”.

It was the PML-N government which made 40 percent cuts in non-development budget and took so many hard decisions after taking charge and the PML-N had already given a road map to restore economy in its manifesto which was still on the website of the party, he added.

He said the PML-N government started work and made comprehensive plans to stabilise Pakistan’s economy while it was in opposition and by the grace of Allah Almighty, Pakistan would be the 18th biggest economy of the world in next some years.

The Minister asked all political parties to get united and join hands with the government for complete restoration of Pakistan’s economy.

Chairman FBR Nisar Muhammad Khan, Special Assistant to PM on Revenue Haroon Akhtar and other officers were also present on the occasion.

Source: APP

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