Dar hopes forex reserves to cross $22 Bln by end of June

ISLAMABAD: Minister for Finance Ishaq Dar has expressed the confidence that Pakistan’s foreign exchange reserves would cross twenty-two billion dollars by the end of this month.


He was speaking at MOU signing ceremony between Pakistan and the World Bank in Islamabad today.

The MOU was signed by Secretary Economic Affairs Division Tariq Bajwa and World Bank Representative Anthony Cholst.

Under the MOU, the World Bank will provide five hundred million dollars to Pakistan which also include four hundred and twenty million dollars guarantee.

The Bank support is to assist Pakistan in carrying out the critical economic structural reforms initiated by the present Government to accelerate and reinvigorate inclusive growth in Pakistan.

Finance Minister said World Bank’s assistance will pave the way for enhancing investment in the country. He said it will increase the value of Pakistani rupees.

World Bank representative Anthony Cholst said the Bank will continue economic cooperation with Pakistan.

He appreciated the Government for stabilizing the economy of the country.