Finance Minister Ishaq Dar said on Sunday that Pakistan’s foreign exchange reserves will touch $15 billion by the end of this month.
Addressing the office-bearers of all Pakistan Newspapers Society in Islamabad, the federal minister called upon all political parties to join hands to put the country back on track. “13.7 per cent increase has been registered in remittances, 16.4 per cent increase in tax collection and foreign exchange reserves have reached 14 billion dollars as a result of policies adopted by the government,” Dar said.
The finance minister said the constitution allowed the government to use supplementary grants during emergency situations such as floods and other natural calamities. He said Pakistan had floated sukuk bonds after seven years and received a great response. “The government has issued the sukuk bonds on the demand of Islamic Banks and got $2.3 billion offers in this regard,” the minister added. The finance minister said the release of sukuk bonds and sale of OGDCL shares were delayed due to sit-ins by the PTI and the PAT. Dar stated the government was focusing on education and health sectors while elimination of terrorism and ensuring merit and transparency in all departments was also its top priority. The minister also said the government would pay arrears of newspaper owners soon after it would receive the summary from the information ministry.
Dar discusses agenda of Pak-Iran JEC today
Finance Minister Ishaq Dar chaired a meeting of all economic ministries and related departments to review preparations for the Pak-Iran Joint Economic Commission Meeting on December 8-9. Ishaq Dar and the Iranian minister for finance are the co-chair of the JEC.
The proposed agenda of the meeting was also discussed in detail. The plenary session of the JEC will be held today. A meeting between the finance ministers of the two countries shall precede the JEC session setting the momentum for the two-day discourse between Pakistan and Iran on enhancing cooperation in a broad range of areas including trade, economy, investment, industries, education, culture and tourism. Most importantly, Pakistan intends to explore possibilities for taking the trade cooperation to still greater heights.
The minister directed the concerned ministries to finalise their proposals for discussion encompassing all related aspects.
Pak-Iran economic relations, it may be added, were formalised in 1984 with the establishment of JEC which to date has held 18 meetings while the 19th session is scheduled to be held on December 8-9 in Islamabad.