ISLAMABAD: The Ministry of Finance on Monday dismissed as ‘misleading’ theclaim appearing in a section of the press on Sunday that Pakistan’sinternational reserves are at the lowest point ever in recent history.
“Any argument regarding international reserves position cannot be groundedmerely on ‘net international reserves’ position. Instruments such asforward swaps and balance of payment support are used by central banks andgovernments all over the world to strengthen their international reservesposition,” the ministry stated in a notification.
“The truth is that at present, the central bank’s reserves are standing at$7.1 billion (as on 3rd January 2019), whereas SBP reserves were as low as$2.8 billion on 7th February 2014.”
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The government has arranged enhanced flows for balance of payments supporton bilateral and multilateral basis, which would further strengthen thecountry’s international reserves position, it concluded.
