PM lauds FM, team as FX reserves hit all-time high of USD21.4bn
ISLAMABAD: Prime Minister Shehbaz Sharif on Friday lauded Finance Minister Muhammad Aurangzeb and his economic team after the country’s foreign exchange reserves hit an all-time high of USD21.4 billion. In a statement, the Prime Minister paid tribute to Aurangzeb, State Bank of Pakistan (SBP) Governor Jameel Ahmad, the government’s economic team, and, in particular, overseas Pakistanis for their…
Prime Minister Shehbaz Sharif commended Finance Minister Muhammad Aurangzeb and his economic team on Friday, as the nation's foreign exchange reserves reached an unprecedented high of USD21.4 billion. The Prime Minister acknowledged Aurangzeb, State Bank of Pakistan Governor Jameel Ahmad, the government's economic team, and overseas Pakistanis for their role in this significant accomplishment.
Sharif highlighted that the record reserves held by the SBP demonstrated the diligent efforts of the economic team and reflected the government's policies moving in the right direction. He credited the surge to improved remittances and services exports, a stronger current account position, and sustained fiscal discipline, which were key factors in bolstering the reserves.
The Prime Minister also noted the country's successful return to international capital markets, signifying a restored global confidence in the economy. Sharif emphasized that the increase in reserves would bolster the country's ability to meet its external payment obligations and enhance its resilience against global economic challenges.
A stable economic position, he added, would attract foreign confidence, investment, and sustainable economic growth.
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