The Finance Minister Mr. Ishaq Dar while addressing, a gathering of Top economists, financial experts held at Islamabad, said that foreign currency reserves would be increased to the level of 16 billion dollars by the present government by the end of year 2014. After deducting liabilities the reserves would stand at 10 billion dollars.
He also said that international financial institutions like World Bank, Asian Development Bank and Islamic Development bank will provide around 2.1 billion dollars to Pakistan. The government is also working on getting funds through non-conventional sources and also planning to launch Euro Bonds of 1 billion dollars and remittances-backed bonds of also 1 billion dollars.
Around 800 million dollars are expected from Etisalat and also around 1.54 billion dollars will be received from United States Coalition Support Fund.
The EAC members also inquired about the authenticity of official data, fact & figures related to inflation, unemployment and economic growth. They also demanded formation of a committee for improvement in data quality and also IMF’s input should be taken under consideration.
The EAC is a group of top economists of the country working under Mr. Dar’s lead. Mr. Dar also quoted the importance of his assistance towards running most the government matters and also affairs of other ministries. In this regard he also mentioned resolution of dispute with Karachi’s transporters and also directing ministry of Commerce and Foreign affairs to resolve 15 year old trade dispute with Russia.
While speaking optimistically at the meeting Mr. Dar told economists that PML (N) government is focusing on the development of four priority areas: Power, oil and gas, agriculture and social sector and they are heading in the right direction. (image source)