The foreign exchange reserves of Pakistan have seen a significant uptick from eight billion dollars to roughly 14 billion dollars, which is a testament to the government’s sound economic policies.
Finance Minister Ishaq Dar said in the Senate meeting held on Sunday. Dar disclosed during a question and answer session the various points of order raised by lawmakers in the Upper House.
Minister Dar recounted his repeated assurances that Pakistan would not default and fulfil all its sovereign commitments. He pointed out that this goal was attained through substantial assistance from ally nations like Saudi Arabia, Qatar, and China.
In particular, he noted that China agreed to roll over our loans when it was clear that Pakistan had satisfied all the necessary technical requirements. Dar expressed a strong determination to further bolster the country’s foreign exchange reserves to 15 billion dollars within the next six to seven weeks.
Resumption of PIA Flights to European Countries
Addressing another public concern, the Finance Minister predicted that flights from Pakistan International Airlines (PIA) to European countries are anticipated to recommence by October this year.
He recounted that PIA experienced an annual loss of around 70 billion rupees due to the reckless statement of a former minister from the prior government. Regarding adopting “The Pakistan Airports Authority Bill, 2023” from the Senate today, Dar suggested that this legislation will set the stage for PIA’s revival and the resumption of flights to Europe, in line with international authority agreements.
According to the minister, following this legislation, a final inspection will occur next month to kick-start PIA’s flights. He further stated that this move would also rejuvenate PIA’s revenue by billions of rupees.
Minister Dar reiterated the government’s commitment to steer the country towards economic stability and advancement. He called upon all political entities to collaborate and agree on a charter of the economy to navigate Pakistan out of financial crises.
