'State Bank reserves fallen below $4b'
- By Web Desk -
- Jun 13, 2023
ISLAMABAD: The renowned economist Abid Qaiyum Suleri on Tuesday stated that the State Bank of Pakistan’s (SBP) reserves of have fallen below $4 billion, ARY News reported on Tuesday.
According to the details, the expert economist Abid Qaiyum Suleri expressed his concerns over the declining reserves of the SBP. He mentioned that efforts from the government team will be required to address the concerns raised by the International Monetary Fund (IMF).
READ: SBP reserves fall another $178.2m to $3.91b
Abid Suleri further stated that it remains to be seen whether the IMF imposes additional taxes to increase revenue. The ongoing negotiations with the IMF will determine the course of action.
He said that in all these matters, at least the Pakistan Democratic Movement (PDM) government has an advantage, that the negotiations door is still open with the IMF.
The economist Abid Suleri further said that the initiatives of the government does not seems very encouraging, adding that, the IMF agreement will greatly benefit Pakistan.