Pakistan's foreign exchange reserves cross $15b mark

[farhan_9909]

ISLAMABAD: Pakistan’s foreign exchange reserves have increased to more than $15 billion, the PM Office stated on Monday.

Federal Finance Minister Ishaq Dar called on Prime Minister Nawaz Sharif and apprised him about the latest development.

According to details, out of $15 billion of the exchequer, $10 billion is in the State Bank of Pakistan, while the rest is in other commercial banks.

Dar gave a detailed briefing to the premier about the 15 billion dollar worth of foreign exchange reserves. The finance minister also informed the prime minster about the economical steps taken to achieve set targets.

Pakistan’s foreign exchange reserves cross $15b mark – The Express Tribune

 

[faisal6309]

Good Development!

 

[rockstar08]

good ?

 

[HariPrasad]

Congrats!!!!!!!

 

[Donatello]

Need to have at least 25 billion in the next 3 years....

 

[Men in Green]

Nawaz is doing pretty good.

 

[farhan_9909]

Need to have at least 25 billion in the next 3 years....

50Billion dollars should be the minimum target by 2018-19.

 

[Donatello]

50Billion dollars should be the minimum target by 2018-19.

50 Billion not really achievable unless Energy shortages get fixed within the next month and FDI starts flowing in like the 2000s...

 

[farhan_9909]

50 Billion not really achievable unless Energy shortages get fixed within the next month and FDI starts flowing in like the 2000s...

Last year Oct our reserves were less than 3Billion dollars and now 15Billion dollars.I have read somewhere that Industries are now on Given 100% electricity supply until april next year.

I think it is possible to atleast reach 40Billion dollars mark by the end of 2018.Growth rate has already picked up and in the worst case scenerio,still it will be no less than 4.5% this year.

remittance is on rise with double digit growth rate.

So the indications are positive,we only need Dar sahab to concentrate more now

 

[HariPrasad]

Need to have at least 25 billion in the next 3 years....

Your target is very conservative. Pakistan can have much more than 25 BN USD.

 

[AugenBlick]

Last year Oct our reserves were less than 3Billion dollars and now 15Billion dollars.I have read somewhere that Industries are now on Given 100% electricity supply until april next year.

I think it is possible to atleast reach 40Billion dollars mark by the end of 2018.Growth rate has already picked up and in the worst case scenerio,still it will be no less than 4.5% this year.

remittance is on rise with double digit growth rate.

So the indications are positive,we only need Dar sahab to concentrate more now

How much of these are loans?

 

[Donatello]

Last year Oct our reserves were less than 3Billion dollars and now 15Billion dollars.I have read somewhere that Industries are now on Given 100% electricity supply until april next year.

I think it is possible to atleast reach 40Billion dollars mark by the end of 2018.Growth rate has already picked up and in the worst case scenerio,still it will be no less than 4.5% this year.

remittance is on rise with double digit growth rate.

So the indications are positive,we only need Dar sahab to concentrate more now

Foreign reserves are liquid reserves.....remittances don't help in that case since even though they arrive in foreign currency, the people quickly withdraw that amount for their use.......so increases the demand for the rupee which helps in stabilizing the rupee........think of remittances as current account not savings account. Forex reserves by the government are those that the government can use without any restriction......the dollars i have sitting in my personal account don't count because they are my property not Government of Pakistan.

The strategy of the current government is to sell stakes in public sector companies to raise forex reserves........its good for short time...but after you have privatized all the public sector companies, what are you going to sell now? For that we need to increase exports which will come from energy supply to existing industries and investment in value added industries.
For example, IT is one big thing where Pakistan can easily earn money........along with services....Pakistan provides 3 billion USD worth of services like accounting, taxation, legal etc.......

Your target is very conservative. Pakistan can have much more than 25 BN USD.

Pakistan can have much more than that....but i am being conservative because it requires serious ground work.

 

[Viper0011.]

50 Billion not really achievable unless Energy shortages get fixed within the next month and FDI starts flowing in like the 2000s...

Actually, if all goes per the economic plan, you should see about $ 30 billion by the end of 2017, and over $ 40 billion by 2019-2010, with over 4 million new jobs created at all levels.

After the above, if the political stability and peace remain in tact, every year post2020, there should be about $ 20 billion a year going into savings

 

[Kambojaric]

The strategy of the current government is to sell stakes in public sector companies to raise forex reserves........its good for short time...but after you have privatized all the public sector companies, what are you going to sell now? For that we need to increase exports which will come from energy supply to existing industries and investment in value added industries.

Alternatively one could argue that privatization will lead to greater efficiency (with less being spent on subsidies) which in the long run will lead to greater exports. I think its high time these state run companies were privatized as the state is clearly incapable of running them. As long as the government increases the supply of energy this strategy should work.

 

[Jungibaaz]

Slowly getting back to mid-2000 levels.