Pakistan’s Foreign Exchange Reserves Surpass $20 Billion: Bilal

Islamabad: Minister of State for Finance Bilal Azhar Kayani has announced that Pakistan’s foreign exchange reserves have exceeded twenty billion dollars. Addressing an event in Islamabad, he detailed the current financial status, stating that the State Bank of Pakistan holds foreign exchange reserves amounting to 15 billion dollars, while commercial banks possess 5.5 billion dollars.

According to Radio Pakistan, the Minister highlighted the country’s progress toward macroeconomic stability. He noted that both inflation and the policy rate have decreased, marking a positive trend in the economic landscape. The Minister emphasized the government’s objective to guide the country toward sustainable and inclusive economic growth. He mentioned ongoing initiatives, including tariff reforms aimed at boosting exports.

Furthermore, the Minister of State pointed out the government’s focus on the digitization of the economy. He also discussed the reforms underway within the Federal Board of Revenue (FBR) to improve revenue collection, signaling a comprehensive approach to strengthening the nation’s economic framework.