Foreign currency: Reserves to rise past $20b in few weeks

It is predicted that Pakistan will become the 18th largest economy of the world by 2050, says Ishaq Dar

ISLAMABAD:

Foreign currency reserves will cross the mark of $20 billion in the next few weeks, said Finance Minister Ishaq Dar.

Speaking at a ceremony organised by the Benazir Income Support Programme (BISP) to celebrate the Independence Day, Dar said the PML-N government was committed to revamping the country’s economy.

“The world is now recognising Pakistan as a stable economy and it is predicted that Pakistan will become the 18th largest economy of the world by 2050,” he said.

Dar pointed out that the BISP budget had been increased from Rs34 billion to Rs102 billion, while annual stipend for the beneficiaries had been raised from Rs12,000 to Rs18,000 each.

“The scope of BISP has been expanded to cover over five million families compared to the previous three million. It will reach 5.3 million families in the next two years,” he said.

“BISP cards will be linked to the CNICs very soon to facilitate the beneficiaries of the cash support programme.” 

Published in The Express Tribune, August 15^th, 2015.

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