*KARACHI – **Pakistan foreign exchange reserves fall further.*
*Pakistan’s foreign exchange reserves plunged by $9 million to below$15 billion.*
According to the State Bank of Pakistan, the country’s net foreign exchangereserves fell to $14.44.
The central bank’s reserves dropped to $7.27 billion while the holdings ofthe commercial banks stood at $7.17 billion.
The reserves fell owing to the country’s external financing requirements,including debt-servicing and other payments.
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Pakistan had on Saturday received the first tranche of US $500 million fromQatar. The first installment of $500 million was deposited to the centralbank.
Emir of Qatar Sheikh Tamim bin Hamad Al Thani during his two-day visit ofPakistan last month had made a commitment to inject $3 billion into thecountry’s economy in the shape of investment and deposits.
