ISLAMABAD: Pakistan’s Finance Minister Ishaq Dar claimed that the foreign exchange reserves of the country have crossed the threshold of US $ 10 billion.
The Finance Minister said that after repayment of power sector circular debt up to Rs. 500 billion in 45 days and strengthening of the value of Pakistan Rupee, the Government of PML (N) had fulfilled yet another commitment with the nation of shoring up of the FE Reserves to a comfortable level of US $ 10 billion by the end of March 2014.
Dar said, that a solid foundation for economic uplift of the country had been laid down and building of the foreign exchange reserves would bring in stability and strength in the economy.
He said that Pakistan had an encouraging macro-economic framework and this would lead to enhanced confidence in Pakistan by foreign investors, international community and institutions in energy and infrastructure projects.
The total liquid reserves stood at US $ 10.072 Billion.
The net reserves with State Bank of Pakistan are US $5.365 Billion and the net reserves with the Banks stood at US $4.706 Billion on 31st March 2014.