Pak's foreign exchange reserves crosses $20 bn for first time

Pakistan's foreign exchange reserves has crossed USD 20 billion mark, the highest in its history, Finance Minister Ishaq Dar said today.
The reserves includes USD 15.24 billion that are with the State Bank of Pakistan (SBP) while another USD 4.83 billion are held by the commercial banks, the Minister said in a statement.
He said that the level of foreign exchange reserves is a "manifestation of the stability in the national economy" which was achieved due to comprehensive economic policies and reforms undertaken by the government.
The Finance Minister also said that Pakistan's economy is being positively rated by all international institutions which shows confidence of the world in Pakistan.

He said the reserve provide a sound base for sustainable and inclusive growth, consolidation of the economic gains and employment generation.
Dar had announced last month that he would achieve the target of USD 20 billion by the end of the year, but he succeeded to do so much before the end.
Prime Minister Nawaz Sharif congratulated the Finance Minister for recording the highest ever reserve mark.