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Govt to take foreign reserves to double digits by March: Dar

Govt to take foreign reserves to double digits by March: Dar

ISLAMABAD: Finance Minister Senator Ishaq Dar reiterated his government’s resolve to increase foreign exchange reserves of the country to double digits by March and $16 billion by the end of the current year. He claimed that several international financial institutions and banks were now approaching Pakistani government which reflected their confidence in the economic policies of the Pakistani government.

Finance Minister Ishaq Dar stated that while talking to a delegation of Dubai Islamic Bank (DIB) led by its CEO Dr Adnan Chilwan on the sidelines of his meetings with IMF. They discussed various avenues for cooperation between DIB and the Pakistani government. The meeting was a follow up to an earlier meeting held in Islamabad on January 29.

Dar informed Dr Adnan Chilwan that his government was keen to promote Islamic Banking in the country and had recently constituted a Steering Committee to fast track work on its promotion.

The Finance Minister expressed the hope that the Pakistani government and DIB would work closely to achieve the fundamental objective of promoting Islamic Banking besides increasing cooperation to facilitate trade and investment in Pakistan. Adnan Chilwan expressed the desire that DIB was keen to work closely with the Pakistan government particularly in the promotion of Islamic Banking in the country and was ready to assist in floating of Sukuk Bonds by Pakistan.