Economics & Business

Dar sees foreign reserve above $13 billion

ISLAMABAD: Pakistan has set a foreign reserve target of more than $13 billion for the fiscal year ending on June 30, up from a current $10.5 billion, Finance Minister Ishaq Dar said on Monday. “I took up a challenge that we’ll keep reserves above $13 billion by June,” Dar told a pre-budget seminar. “Let me tell you good news today, that I have already been successful in achieving, getting, commitment of $3 billion coming to Pakistan before June 30,” he said. Reserves were currently $10.5 billion, he said. Pakistan’s foreign exchange reserves hit an all-time high of $16.486 billion on Oct. 31, 2007, but have fallen since then.-SANA

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Rubab Saleem

Rubab Saleem is Editor of Pakistan Times

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