Forex reserves hit all-time high of $24.5bn: Finance Minister Ishaq Dar

[farhan_9909]

Finance Minister Ishaq Dar on Friday announced Pakistan's foreign exchange reserves have hit an all-time high of $24.5 billion.

The finance minister congratulated Prime Minister Nawaz Sharif and the nation on the 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 six months of import bill," Dar said.

The State Bank of Pakistan holds $19.5bn in reserves, whereas commercial banks have $5bn in reserves.

"We have worked really hard to reach this new level of reserves," the finance minister said. "Pakistan is not what it was three years ago. The country is more stable and international investors see Pakistan as a new destination for its investments."

All this has happened with the constant hard work under the leadership of PM Nawaz, he said.

http://www.dawn.com/news/1289972/fo...time-high-of-245bn-finance-minister-ishaq-dar

 

[HttpError]

Before 2020, we should target for $50 Billion or at-least before 2021.

 

[war&peace]

Another attempt to fool people...how much is the loan in it?

 

[GreenFalcon]

Pakistan's Debt hit an all time high as well..... we're just going in circles

 

[H!TchHiker]

Finance Minister Ishaq Dar on Friday announced Pakistan's foreign exchange reserves have hit an all-time high of $24.5 billion.

The finance minister congratulated Prime Minister Nawaz Sharif and the nation on the 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 six months of import bill," Dar said.

The State Bank of Pakistan holds $19.5bn in reserves, whereas commercial banks have $5bn in reserves.

"We have worked really hard to reach this new level of reserves," the finance minister said. "Pakistan is not what it was three years ago. The country is more stable and international investors see Pakistan as a new destination for its investments."

All this has happened with the constant hard work under the leadership of PM Nawaz, he said.

http://www.dawn.com/news/1289972/fo...time-high-of-245bn-finance-minister-ishaq-dar

Such a fabrication this is. Would he like to tell us the proportion of his hard work in :
1) Remittance from the expat community
2) Grant of a Friend
3) Loans /Issuance of Bonds amount

After deduction all this what left can be attributed to him . Real thing is export and that is on declining mode from last 2 years.This Munshi will just raise loans by mortgaging Motorways, Radio Buildings and what else. Is this his hard work ? anybody can do this. Later he will mortgage Airports, Highways and other assets.

 

[Dawood Ibrahim]

O boy the fairy tale of corruption continues
@GreenFalcon @war&peace

 

[war&peace]

Pakistan's Debt hit an all time high as well..... we're just going in circles

We are not going in circles even... we are spiralling down...while all of us are pinning hopes in CPEC but these suckers are sucking the sap out of our economy at an ever increasing rate while the half dead nations is in some sort of trance..

 

[cloud4000]

LIke GNP, foreign exchange figures are misleading figures unless you look at the granular data. Of course, media and politicians like big, fat, round numbers because they are so marketable.

This quote made me laugh:

"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 six months of import bill," Dar said.

It's like we went from really horrible to just horrible. Let's celebrate.

 

[farhan_9909]

LSM growth again down to only 2% in july.Lets hope that it improves otherwise we will again witness sub 5% growth next year

http://pakobserver.net/industrial-output-grows-2-62pc-in-july/

 

[خره مينه لګته وي]

about 20 hours ago who's lying ??

Reserves decline 0.5pc to $23.5bn

KARACHI: Pakistan’s total liquid foreign exchange reserves amounted to $23.5 billion on October 7, down 0.5 per cent from a week ago, the State Bank of Pakistan (SBP) said on Thursday.

According to a statement released by the central bank, SBP’s liquid foreign exchange reserves decreased $81 million to $18.4bn during the week. During the week, the SBP made payments of $76m on account of external debt servicing.

Reserves witnessed a major boost in the week ending on Sept 23 when Pakistan received $700m from China Development Bank.

Net foreign exchange reserves held by commercial banks amounted to $5bn on October 7, registering 0.7pc decrease over the preceding week.

Published in Dawn, October 14th, 2016

 

[Thəorətic Muslim]

It's like we went from really horrible to just horrible. Let's celebrate.

You missed the quote man, they used to have a few weeks worth of reserves, now they have six months worth. Which is like 12x.

 

[ali_raza]

all drama

 

[shhh]

You missed the quote man, they used to have a few weeks worth of reserves, now they have six months worth. Which is like 12x.

still horrible buddy.
still horrible.

 

[Thəorətic Muslim]

still horrible buddy.
still horrible.

You all are just haters.

 

[Lotus_stalk]

India should buy more weapons and make more nukes... Pakistan will be forced to reciprocate ... this will dent its foreign exchange....