ISLAMABAD
Finance Minister Ishaq Dar has said that economic indicators have improved and exports have reached $16 billion due to prudent economic policies of the government.
Addressing a news conference in Islamabad on Wednesday, he said Eurobonds issued by Pakistan received an overwhelming response from international investors. He said offers worth $6.90 billion were received for these bonds.
He said the proceeds of the $2 billion bonds have already been received by State Bank of Pakistan.
He said as of today, Pakistan has foreign reserves of $ 11.67 billion. He said we will achieve the target of $ 15 billion in foreign reserves by 30 September 2014.
Finance Minister clarified that due to these bonds, there is no impact on overall debt. Rather it increased foreign exchange reserves by $2 billion.
The minister said during the Strategic Dialogue meetings with US officials, they discussed bilateral economic issues in which Pakistan urged to accelerate payments of Coalition Support Fund. He said it is expected that 380-million dollar payment in that fund will be received later this month.
He said during meetings with World Bank officials, the Pakistani delegation was successful in gaining favourable response to 16 concessionary loans and now the World Bank has set a board meeting next month for approving two projects worth $ 1 billion Pakistan.
Dar said during meeting with President Asian Development Bank, the Pakistani delegation was told that the issue of granting a loan of $ 400 million to Pakistan will be taken up by their board.
To a question about the auction of 3G and 4G licences, Dar said this auction will not only bring advanced technology to Pakistan but also create jobs opportunities for thousands of people.
