ISLAMABAD  - Finance Minister Senator Ishaq Dar has said that foreign exchange reserves would be more than $10 billion by the end of March, 2014 and around $16 billion by the end of December, 2014.
He stated this in a meeting to review the overall economy with the focus on external financing. The finance minister gave detailed instructions to accelerate the pace of efforts already being made by the Finance Division.
Senator Dar reiterated, “With the grace of Allah and with our sincere efforts we will take the foreign exchange reserves to more than $10 billion by the end of March, 2014 and around $16 billion by the end of December, 2014.”
International Financial Institutions (IFIs) have reposed their confidence in policies of the present government and expressed that the economy was now moving in the right direction.
He went on to say that IMF has reviewed downwards its figures for inflation it projected earlier and raised the projection of the GDP growth from earlier 2.8% to 3.1%. The meeting was attended by the senior officials of the Finance Ministry.