ISLAMABAD – Minister for Industries Hammad Azhar has said the State Bank ofPakistan has foreign exchange reserves of twelve to thirteen billiondollars, adding that the reserves have increased due to improvement inexports and remittances.

He was speaking on the floor of Senate during the question hour, withChairman Sadiq Sanjrani in the chair.

The Senate was informed today that the country’s foreign exchange reserveshave increased to about twenty billion dollars.

The minister said there has also been a record debt servicing during thetenure of the present government. He said we are paying back ten billiondollars annually.

Hammad Azhar added the current account has shown a surplus of 1.6 billiondollars during the first five months of current financial year against adeficit of 1.7 billion dollars in the corresponding period last year.

He further said that special economic zones will be constructed under themega China Pakistan Economic Corridor project

Adviser on Commerce and Trade Abdul Razak Dawood informed the house thatthe government is taking concrete steps to boost exports.

During the pandemic, the government provided a stimulus package worth 180billion rupees to industries.

Dawood had earlier said that exports of Pakistan to the United States (US)has crossed the dollar 400 million mark.