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KARACHI: Foreign exchange reserves of the State Bank of Pakistan (SBP) decreased $956 million to $7.95 billion due to external debt servicing during the week ending on Nov 4, a central bank statement said on Thursday.
Major external debt repayments executed during the week include the repayment of the government’s commercial loans. Refinancing of these loans is in process, which will improve foreign exchange reserves in coming weeks, the central bank said.
The total liquid foreign reserves held by the country stood at $13.72bn. Net foreign reserves held by commercial banks amounted to $5.76bn.
Published in Dawn, November 11th, 2022
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Comments (3) Closed
Nov 11, 2022 10:19am
Why were these crooks imposed, given a free hand on fascism, trashing the economy, thrown it into a black hole and push the country back for years to come?
You have lost the plot.
Time to relent, enough is enough!
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Nov 11, 2022 06:01pm
To main SBP foreign reserves govt has taken various decisions such as restriction of opening of L/C, restriction in giving foreign currency to Pakistani visiting abroad. Still exporters are allowed to retain 10 percent of their export proceeds for utilization of commercial intelligence, adjustment in short fall in export proceeds.
Temporarily this facility should be abolished to save foreign exchange.
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Nov 12, 2022 12:06am
Importation of all luxury goods should be stopped at once.
Luxury goods are used by the elite only and are an unnecessary burden on foreign reserves.
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