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.
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This is what Nawaz and his cabal left. Did not take. Send to off shore accounts. These are scraps. Be happy. T
please also mention the foreign loans..........if foreign loans are increasing along with reserve than please stop this false hope.
Out of 15 Billion would the Government explain to the general public how much is owned and how much is actually ours? That would show the real state of economy. And most importantly what would be the annual return on this loan amount which the common man has to bear? This money will be gone by the time this Government leaves and we will hear the same old rthetoric "khazana khali hai".
What exactly is Dar's achievement here/ few billion $s from IMF and import bill is well down due to oil prices cut in half. "Mr PM I am here to tell you we got lucky and reserves are at $15b".
@Wali: Everybody knows that! The idea now is for the private sector to take advantage of the macro stability and increase business activity. FDI should also increase in this backdrop
Less Than Bangladesh Still
these are all gross term minus borrows would leave bankruptcy
Well done
Over the years FOREX reserves has been used by GOP as indicator of financial well being. What is not mentioned is that includes all the money from loans and other development programs given out as aid - not in anyway reflecting true picture of the economy in the case of a country like Pakistan.