Islamabad, January 11, 2023 (PPI-OT):Finance Minister Ishaq Dar has categorically denied any of government’s consideration to have an access to foreign exchange held with the commercial banks. In a series of tweets today (Wednesday), he said the foreign exchange held with the commercial banks indeed is the property of the citizens and clarified that there is no such move under consideration of the government.

The Minister said national foreign exchange reserves always include forex held with the State Bank of Pakistan and Commercial Banks. He said he recently quoted the forex reserves figure based on this principle, but some vested elements that ruined this country’s economy in the past, gave it a deliberate twist and started a campaign as if government is considering taking over the foreign exchange held with commercial banks. Ishaq Dar further tweeted that misconstrued, misinterpreted and malafide, propaganda should be ignored. He said Pakistan is moving towards improvement in its forex reserves position in the near future.

For more information, contact:
Ministry of Information and Broadcasting
Government of Pakistan
4th Floor, Cabinet Block, Pak. Secretariat, Islamabad, Pakistan
Tel: +92-51-9103557
Email: info@moib.gov.pk
Website: http://www.moib.gov.pk