Ahmed Mukhtar Naqshbandi
ISLAMABAD: State Bank of Pakistan (SBP) has said that the country has arranged additional foreign currency reserves to pay the forthcoming repayment of 1 billion US dollars against the development of a 5-year Sukuk bond by December 3rd of the current year. Pakistan’s central bank spokesperson confirmed to the WorldEcho on Friday.
Meanwhile, Federal Finance Minister Ishaq Dar while talking to a private news channel said that the central bank will clear payment of the Sukuk Bond by December 3, 48 hours before the deadline of December 5.
SBP says foreign exchange reserves will not take any hit
Earlier, the Governor of SBP Jameel Ahmad said that Pakistan’s foreign exchange reserves will remain exempt from the effect of the payment of the loan instrument. According to local media in Pakistan, the repayment was paid today (Friday) three days ahead of the development of the loan instrument on December 5th of the current year. The top official of Pakistan’s Central Bank said that the country’s reserves will not take any hit from the repayment.
Pakistan’s central bank analysts said that the country’s reserves are expected to improve in the present fiscal year. The Government of Pakistan also received 500 million US dollars on November 29 from Asian Infrastructure Investment Bank (AIIB).
