Pakistan now has $ 15.25 b forex reserves: Dar

LAHORE, Nov. 7 (APP): Federal Finance Minister Senator Ishaq
Dar on Saturday said Pakistan’s foreign exchange reserves have now
scaled up to USD 15.25 billion from USD 2.75 billion two years ago.
Chairing Data Darbar Religious Affairs Committee meeting here
at 90 Shahra Qauid-i-Azam, he said the government’s hectic efforts
have made it possible to achieve 4-year target within just only
two years.
The Federal Finance Minister said certain people, who had
been claiming the country to be declared bankrupt by June 2014,
are now all praise for the fast economic development.
Though at that time, the State Bank had only USD 2.75 billion
foreign exchange reserves, equal to country’s import bill of only
ten days but now by the grace of Almighty Allah, Pakistan has
$ 15.25 billion forex reserves, which are sufficient to pay the
import bill of over four months, he added.
According to international credit rating agencies’ reports,
he said, Pakistan would jump up to 18 from its current credit
rating number of 44 at global level by 2050, provided Pakistan
continue with current momentum on the economic front.
He resolved that PML-N government is striving hard to achieve
this rating target much before 2050.
The Federal Minister underscored the need to segregate politics
from economic issues and said all persons in his domain, must focus
and contribute towards economic progress and well-being of the
country.
Ishaq Dar, who is also the Chairman of Data Darbar Religious
Affairs Committee, reviewed in details the arrangements regarding
three-day 972nd Urs of the renowned saint Hazrat Ali bin Usman
Al-Hajvery (RA) popularly known as Hazrat Data Ganj Bukhsh (RA).
The Urs will be held from December 1, this year, but exact
date may vary for a day due to the sighting of Safar-ul-Muzafar
moon.
A large number of devotees from across Pakistan and abroad
participate in the annual Urs of the saint.
The Committee meeting discussed the matters relating to
cleanliness of the Darbar, the place of Urs; removal of illegal encroachments in surrounding roads/places, provision of drinking
water, traffic arrangements, printing of related material and
its distribution, Langar arrangements, security plan, Chadar-poshi
ceremony, Mehfil-e-Sama and illumination, setting up of help counters
and camp offices, first aid centres, supply of electricity, gas and
placing of generators, etc.
Ishaq Dar directed the departments concerned to maintain the
standard of the best arrangements of the Urs in order to facilitate
the participants.