Foreign exchange reserves sufficient to cater debt servicing, import liabilities

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Foreign exchange reserves sufficient to cater debt servicing, import liabilities

ISLAMABAD:Ministry of Finance has said that current foreign exchange reserves are sufficient to cater for debt servicing and import liabilities.

A spokesman of the Ministry in a statement in response to a news story published in a section of press has clarified that foreign exchange reserves do not stay constant.

He said that foreign exchange reserves are built on inflows through earnings from exports, personal transfers, foreign direct investments and earnings of the central banks.

The spokesman said Pakistan has never defaulted on its international liabilities and has catered for it liabilities even with lower levels of foreign exchange reserves in the past. APP/AFP