ISLAMABAD

Finance Minister Senator Ishaq Dar on Thursday informed the National Assembly that Pakistan would receive $310 million of transaction of 19.8 percent shares of United Bank Limited (UBL) next week that would take country’s foreign exchange reserves to $14 billion by June 30 2014.

The Finance Minister, in a policy statement, said that foreign exchange reserves stand at 13.52 billion dollars out of which 8.6 billion dollars are with the State Bank of Pakistan.  Dar, in the presence of PM in the House, was optimistic that foreign exchange reserves will cross 14 billion dollars by 30th of this month.

About privatization of Public Sector Entities (PSEs), he said that 68 entities were identified during the previous era (PPP government). “We are not doing any step on our own wish in this regard,” he said adding that 31 PSEs were to be privatized in the first phase. He further clarified that the Council of Common Interests has re-identified this list of 31 public institutions for privatization, as only addition is Lakhra Power Unit. Taking the floor, leader of opposition in the National Assembly Syed Khursheed Shah asked the treasury benches to avoid breaking traditions of the House. “You can share all of your achievements on you winding up speech,” he added. Adopting same lines, PTI’s senior lawmaker Shah Mehmood Qureshi said it would be better to share achievements in the winding up speech.