Pakistan now has $ 15.25 billion forex reserves: Ishaq Dar

LAHORE, Pakistan: Federal Finance Minister Senator Ishaq Dar on Saturday said Pakistan’s foreign exchange reserves have now scaled up to USD 15.25 billion from USD 2.75 billion two years ago.


Chairing Data Darbar Religious Affairs Committee meeting here at 90 Shahra Qauid-i-Azam, he said the government’s hectic efforts have made it possible to achieve 4-year target within just only two years.

The Federal Finance Minister said certain people, who had been claiming the country to be declared bankrupt by June 2014, are now all praise for the fast economic development.

Though at that time, the State Bank had only USD 2.75 billion foreign exchange reserves, equal to country’s import bill of only ten days but now by the grace of Almighty Allah, Pakistan has $ 15.25 billion forex reserves, which are sufficient to pay the import bill of over four months, he added.

According to international credit rating agencies’ reports, he said, Pakistan would jump up to 18 from its current credit rating number of 44 at global level by 2050, provided Pakistan continue with current momentum on the economic front.

He resolved that PML-N government is striving hard to achieve this rating target much before 2050.

The Federal Minister underscored the need to segregate politics from economic issues and said all persons in his domain, must focus and contribute towards economic progress and well-being of the country.

Ishaq Dar, who is also the Chairman of Data Darbar Religious Affairs Committee, reviewed in details the arrangements regarding three-day 972nd Urs of the renowned saint Hazrat Ali bin Usman Al-Hajvery (RA) popularly known as Hazrat Data Ganj Bukhsh (RA).

The Urs will be held from December 1, this year, but exact date may vary for a day due to the sighting of Safar-ul-Muzafar moon.

A large number of devotees from across Pakistan and abroad participate in the annual Urs of the saint.

The Committee meeting discussed the matters relating to cleanliness of the Darbar, the place of Urs; removal of illegal encroachments in surrounding roads/places, provision of drinking water, traffic arrangements, printing of related material and its distribution, Langar arrangements, security plan, Chadar-poshi ceremony, Mehfil-e-Sama and illumination, setting up of help counters and camp offices, first aid centres, supply of electricity, gas and placing of generators, etc.

Ishaq Dar directed the departments concerned to maintain the standard of the best arrangements of the Urs in order to facilitate the participants.

Source: APP

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

Latest article