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SBP holds about $13 billion reserves, Hammad Azhar informs Senate


ISLAMABAD: Federal Minister for Industries and Manufacturing Hammad Azhar has stated on Friday that the State Financial institution of Pakistan (SBP) holds international trade reserves of twelve to 13 billion {dollars}.

“The reserves have elevated attributable to enchancment in exports and remittances”, Hammad Azhar knowledgeable Senate throughout query hour, reported Radio Pakistan.

Senate started its session on the parliament home in Islamabad as we speak (Friday) with Chairman Sadiq Sanjrani within the chair.

The minister for Industries stated there has additionally been a report debt servicing through the tenure of the current authorities. He stated we’re paying again ten billion {dollars} yearly.

Learn extra: Pakistan’s international reserves rise $250 million

Hammad Azhar stated the present account has proven a surplus of 1.6 billion {dollars} through the first 5 months of the present monetary yr towards a deficit of 1.7 billion {dollars} within the corresponding interval final yr.

Hammad Azhar stated that particular financial zones will probably be constructed beneath the mega China Pakistan Financial Hall venture.

He stated development work on three SEZs has been expedited and initiatives value 1.7 billion {dollars} are within the part of implementation in Gwadar beneath the CPEC.

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