Pakistan’s Foreign Exchange Reserves Expected to Reach $14 Billion by June
The Pakistani government has won global recognition for its economic reforms and fiscal discipline.
Federal Finance Minister Senator Muhammad Aurangzeb today held a Zoom meeting with representatives of Standard & Poor’s (S&P) Global Ratings, which was held in connection with the review of Pakistan’s sovereign credit rating.
On this occasion, the Finance Minister presented a detailed outline of the government’s economic reform measures and stressed the importance of increasing exports and increasing productivity for sustainable development.
The Finance Minister said that thanks to the government’s successful policies, inflation and current account deficit have been controlled, and the economy has stabilized.
He also said that Pakistan’s foreign exchange reserves will reach $14 billion by the end of June, in which institutional investment, trade capital inflows, and remittances play a significant role.
Furthermore, the Finance Minister expressed the expectation of Pakistan’s tax-to-GDP ratio reaching 10.6 percent by June,
and also mentioned the separation of tax policies from the FBR to align them with economic strategy.
The Finance Minister mentioned more than 70 meetings with key global partners during his recent visit to the United States on the sidelines of the World Bank and IMF Spring Meetings, which strongly supported Pakistan’s economic reforms.
