Forex reserves stand at about $10b: Senate told

F.P. Report

ISLAMABAD: The Senate was informed on Thursday that the foreign exchange reserves stand at about ten billion dollars and the target is to take them to thirteen billion dollars by June this year.

Leader of the House and Minister for Finance, Ishaq Dar told the House during Question Hour that there had been improvement in foreign exchange reserves over the last five weeks.

He said the government has not deferred any international obligation ever since coming to power and is making timely payments. He said our external debt has actually gone down. Regarding the agreement with IMF, Ishaq Dar said technical discussions with the lender have been completed.

In his remarks, Minister for Law Azam Nazeer Tarar told the House that the process of 7th Population and Housing Census was in progress and had to be completed before 30th of next month. He said it is the first time that digital census is being carried out for which 35 billion rupees were earmarked in the budget 2022-23. He said if the results of the census get confirmed, the delimitations and next elections should be held under it.

Taking the floor, Minister for Commerce Naveed Qamar told the House that the country had sufficient stocks of all staple items. He said our thrust in future will be enhancing agriculture exports. Senate holds discussion on Supreme Court Practice and Procedure Bill, 2023 The Senate also held discussion on the Supreme Court Practice and Procedure Bill, 2023. Sharing main features of the Bill, Law Minister Azam Nazeer Tarar said it proposes constituting the benches and allocation of cases by a committee comprising Chief Justice and two senior most judges. He said right of appeal has been given under the bill. The Minister said such a law was the longstanding demand of the Bar Councils and Bar Associations. (INP)