Economic growth: Dar says country needs to continue momentum

LAHORE:

Finance Minister Ishaq Dar on Saturday said Pakistan’s foreign exchange reserves have now scaled up to $15.25 billion from $2.75 billion two years ago.

Chairing the Data Darbar Religious Affairs Committee meeting here at Shahra Quaid-i-Azam, he said the government’s efforts have made it possible to achieve a four-year target within just two years. Dar said not long ago the State Bank had only $2.75 billion foreign exchange reserves and many people had marked the country bankrupt, but now Pakistan has $15.25 billion in reserves, which are sufficient to pay the import bill of over four months.

As per international credit rating agencies, Pakistan would jump up to 18 from its current credit rating of 44 by 2050, said Dar.  “Pakistan needs to continue the current momentum to sustain this level.”

Published in The Express Tribune, November 8^th, 2015.

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