ISLAMABAD: The foreign exchange reserves of the country have crossed the mark of $10 billion, an increase that will lead to the strengthening of the national economy.
The total liquid reserves stood at $10.072 billion. The net reserves with the State Bank of Pakistan are $5.365 billion and the net reserves with the banks stood at US $4.706 billion.
In a statement, the finance minister Ishaq Dar said that after repayment of power sector circular debt up to Rs500 billion in 45 days and strengthening of the value of Pakistani rupee, the government had fulfilled yet another commitment with the nation of shoring up of the foreign exchange reserves to a comfortable level of $10 billion by the end of March 2014.
The finance minister said that a solid foundation for economic uplift of the country had been laid down and building of the foreign exchange reserves would bring in stability and strength in the economy.
Dar said that Pakistan had an encouraging macro-economic framework and this would lead to enhanced confidence in Pakistan by foreign investors, international community and institutions in energy and infrastructure projects.
