Key Takeaways
- Prime Minister Shehbaz Sharif commends Finance Minister Muhammad Aurangzeb and his team.
- Foreign exchange reserves reach an all-time high of USD21.4 billion.
- Attributed to improved remittances, stronger services exports, and fiscal discipline.
Prime Minister Shehbaz Sharif has praised the Finance Minister Muhammad Aurangzeb and his economic team for achieving a significant milestone in Pakistan’s economic performance. The country’s foreign exchange reserves have reached an all-time high of USD21.4 billion, according to a statement from the Prime Minister’s office.
In his statement, the Prime Minister highlighted the contributions of the State Bank of Pakistan (SBP) Governor Jameel Ahmad and the government’s economic team, as well as the role of overseas Pakistanis in this achievement.
He attributed the surge in reserves to a marked improvement in remittances and services exports, a stronger current account position, and sustained fiscal discipline. These factors, he said, had played a crucial role in bolstering the reserves.
The Prime Minister also pointed to the country’s successful return to international capital markets, which he called a clear sign of global confidence in the economy being restored.
He emphasized that the rise in reserves would not only strengthen Pakistan’s capacity to meet its external payment obligations but would also significantly enhance its resilience against global economic challenges.
A stable economic position, he added, would open new doors to foreign confidence, investment, and sustainable economic growth.
The Prime Minister’s statement underscores the government’s commitment to economic stability and its efforts to improve the country’s financial standing on the global stage.
