Pak foreign exchange reserves reach $21b

ISLAMABAD (Web Desk) - Finance Minister Ishaq Dar on Wednesday has said that Pakistan's foreign exchange reserves have reached a record high of $21 billion.

According to a statement, issued by PM Office, Dar on Wednesday informed Prime Minister (PM) Nawaz Sharif that foreign exchange reserves have reached a record high of $21 billion. He said of the $21bn in foreign exchange reserves, $16billion are with the State Bank of Pakistan (SBP), while $5billion remain with commercial banks.

The finance minister said SBP's share has, during the last year, increased from $3bn to $16 billion.

PM Nawaz lauded the performance of the economic team led by Dar, and observed that Pakistan is back on track with respect to economic growth. He said political stability had improved security in the country, and transparency in public sector governance had also resulted in growth.