Islamabad: Finance Minister Muhammad Aurangzeb said that the country’s foreign exchange reserves will be between nine and ten billion dollars by the end of this fiscal year.
Addressing the 7th Leaders of Islamic Business Summit, he said that foreign exchange reserves are now eight billion dollars. He said the International Monetary Fund’s foreign exchange reserves will exceed $9 billion in the latest deal. Compared to last year, foreign exchange reserves are said to have dropped three points to four billion dollars.
The finance minister said he was satisfied with the harvest and said agriculture was growing at five percent.
Muhammad Aurangzeb said that the market was always high and foreign buyers also came to the market.
The finance minister said the government has started talking with HPG about a bigger and longer program to implement the macroeconomic stability and structural reform agenda.
The government aims to keep the current account deficit and the fiscal deficit within reasonable limits.
He said, tax collection has increased by thirty two percent in the first nine months of this fiscal year.
The finance minister said the government is working to attract foreign direct investment to the country.
