Foreign exchange reserves enough to meet payments: Shamshad Akhtar

Foreign exchange reserves enough to meet payments: Shamshad Akhtar

ISLAMABAD: Caretaker Minister for Finance, Planning, Development and Reforms Dr Shamshad Akhtar Thursday said, currently foreign exchange reserves of the country stood at US$ 10.230 billion and there was no issue of the foreign payments.
However, pressure on foreign payments would rise during next quarter of current financial year, she said talking to media after attending a seminar on Sustainable Development Goals (SDGs).
The event was organized by Ministry of Planning Development and Reforms to highlight the state of different indexes and steps being taken to achieve the goals set under SDGs for uplift of common man in the country.
The minister said working on a program with International Monitory Fund was in progress and the incoming government would be apprised about the whole situation.
She said that collaboration with IMF was important to further strengthen the economic indicators and it was not appropriate to term the IMF program as a bail out package.
Replying to a question, she said, China-Pakistan Economic Corridor was a developmental program and it has no relation with IMF.
Earlier, addressing the seminar, Dr Shamshad Akhtar said that the SDGs help in collecting data about different indicators for proper policy formulation to ensure development and welfare of common man in the the country.
She said that participation of local communities through non-governmental organization and local government system was pre-requisite to achieve the SDGs and the Sindh government had taken several significant steps for development of community organizations.
Dr Shamshad Akhtar said that national economy was passing through a crucial phase as current account deficit and fiscal deficit were at the highest point in economic history of the country.
She stressed the need for rationalizing the resources among the federation and provinces and called for the capacity building of the provincial governments and putting responsibilities on them for rapid soc-economic development.
The Minister also stressed the need for taking appropriate steps to ensure practical implementation of SDGs for socio-economic uplift of the people. – APP


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