ISLAMABAD: Pakistan Tehreek-i-Insaf (PTI) has expressed concern over falling foreign exchange reserves and claimed that the reserves are sufficient only for imports of less than three months.
PTI leader Asad Umer, while sharing statistics, claimed that the State Bank of Pakistan had only $12.3 billion in reserves.
In addition to this, he said, in December last year, the government did a record borrowing of $2.5 billion through bonds besides doing short-term borrowing of $6.3 billion.
“So factually we have only $6 billion in foreign exchange reserves which can only cover one month’s imports. Besides, the government has paid $4.8 billion in circular debt to private companies despite claims of former finance minister Ishaq Dar that the government has completely paid the circular debt.
The foreign exchange reserves continue to fall at alarming rate and they dropped to $350 million only last week,” the PTI leader said.
PML-N’s MNA joins party
Meanwhile, PML-N Member of National Assembly from NA-81, Faisalabad, Nisar Ahmed Jatt, on Friday met PTI chief Imran Khan and announced his joining of the PTI.