SBP reserves plunge to $3.7bn

[Dalit]

KARACHI: Foreign exchange reserves of the State Bank of Pakistan (SBP) hit a new nine-year low of $3.678 billion during the week ended on Jan 20.

The SBP on Thursday said that its forex holdings decreased by $923m during the week due to external debt repayments.

The government has practically surrendered to the IMF conditions for the revival of the loan programme amid fast-dwindling SBP reserves are even not sufficient to cover imports for three weeks.

More than 9,000 containers are stuck at the ports waiting to be paid for clearance. Also, ships carrying essential commodities including petroleum products, LNG and soyabean are awaiting payments but the empty-handed government is looking for inflows.

The government has met the key pre-conditions of the fund including a market-based dollar-rupee exchange parity and high-interest rate and is likely to impose 17pc general sales tax on diesel and petrol within a week.

The economy is in bad shape but the external front is facing the worst situation.

The country’s total reserves were $9.5bn down by $990m while the commercial banks’ holdings fell by $68m to $5.8bn during the week.

SBP reserves plunge to $3.7bn

Central bank says its forex holdings decreased by $923m during the week due to external debt repayments.

www.dawn.com

 

[Riz]

STB reserves now less then nawaz sharif total money

 

[SaadH]

Where is that famous tweet from the previous DJ ICE PYAAR, ah here it is:

BTW, can any Army brat worth their salt defend this tweet and provide us all bloody civilians the proper context for us low IQ individuals to understand the profound meaning behind it?

 

[Skimming]

So many members are coming out of closet. @ghazi52 @Dalit @Enigma SIG

Do you know what are they doing, @El Sidd?

Even @SQ8

 

[Dalit]

So many members are coming out of closet. @ghazi52 @Dalit @Enigma SIG

Do you know what are they doing, @El Sidd?

Even @SQ8

Looks like your PDM is begging for inflows and are getting none. Not even from your American and Western sponsors.

 

[ziaulislam]

So many members are coming out of closet. @ghazi52 @Dalit @Enigma SIG

Do you know what are they doing, @El Sidd?

Even @SQ8

Good news for Pakistan

Nawaz sharif love

اوس ورتا زان ٹینگ کے

 

[Imran Khan]

wish them empty sooner

 

[Enigma SIG]

STB reserves now less then nawaz sharif total money

Less than what Ayyan Ali has in her bank account.

 

[Skull and Bones]

So it’s basically zero now.

 

[Imran Khan]

less then yearly make up and body care budget of nani 420 qatran

So it’s basically zero now.

less then 0 its negative now

 

[N.Siddiqui]

Is the Military Inc. economy pegged/tied somehow with the Pakistan economy. Doesn't looks like it, they don't care and least bothered, infact they are the main players for this freefall of the economy.

Military will get some freebies, some doleouts from the US being their master and slaves will be the lapdogs as usual and with some extra bootlicking of the masters.

And they will accept this 'Ghulami', the Master-Slave relations, calling it strategic compulsion.

 

[GriffinsRule]

Where is that famous tweet from the previous DJ ICE PYAAR, ah here it is:

BTW, can any Army brat worth their salt defend this tweet and provide us all bloody civilians the proper context for us low IQ individual to understand the profound meaning behind it?

What a difference an year makes

 

[Arsalan345]

Time for people to start protest. Begherat awaam do something. Remove this Government. remove any institute that interferes in politics. Save country.

 

[Asimzranger]

https://twitter.com/x/status/1618932647857913856

 

[Crimson Blue]