Govt sets target to enhance foreign reserves to $ 13 bln by June: Senate told.

ISLAMABAD -- Minister for Finance and Revenue Muhammad Ishaq Dar on Thursday informed the Senate that the country's reserves would jump to $ 10 billion by Friday adding that target has been set to enhance it to $ 13 billion by June.

Replying to various supplementary questions during the Question Hour, the minister said that Pakistan would not default and arrange all financial liabilities. Not a single international obligation was deferred in last 11 months and actual external debt had also decreased, he said.

He said Pakistan Muslim League (PML-N) government inherited $ 4.6 billion foreign reserves when came into power in 2013.

The then PML-N government not only fetch the country out of financial crisis but also put it on road of progress and prosperity with 6 per cent gross domestic product (GDP) growth, he added.

He said Pakistan's economy was included among top 24 growing economy in the world and 5th best economy in Asia during the said period.

He went on to say that he was punished merely for bringing fiscal discipline in the country. He had been already advocating since 2013 for charter of economy, he added.

He conceded that inflation was high in the country but it was due to flaws policies of the past government.

Regarding State Bank of Pakistan (SBP), the minister said various amendments were made in the past in this regard. Now...