ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif has expressed satisfaction over the State Bank of Pakistan’s foreign exchange reserves reaching a historic high of $21.4 billion, marking a significant milestone in the country’s economic trajectory.

According to Radio Pakistan, the Prime Minister described the increase in foreign exchange reserves as a testament to the hard work of the economic team and the measures taken in the right direction. The rise, he noted, is attributed to significant improvements in remittances and services exports, a better current account position, and fiscal discipline, which have collectively contributed to the strengthened reserves.

Shehbaz Sharif highlighted that Pakistan’s successful re-entry into international capital markets reflects the restoration of global confidence in the country’s economy. He emphasized that the increase in foreign exchange reserves will enhance Pakistan’s capacity to meet external payment obligations and withstand global economic challenges.

The Prime Minister acknowledged the contributions of Finance Minister Muhammad Aurangzeb, the Governor of the State Bank of Pakistan, the government’s economic team, and overseas Pakistanis in achieving this landmark. He suggested that a stable economic position will pave the way for increased foreign confidence, investment, and sustainable economic growth in Pakistan.