Dar denies rumors on govt considering banks' FX

January 11, 2023 (MLN): The Federal Minister of Finance and Revenue Senator Ishaq Dar on Wednesday denied the government's consideration to access the foreign exchange held by commercial banks, he clarified through its official Twitter handle.

“Therefore, said misconstrued, misinterpreted, and malafide, propaganda should be ignored”, he added.

In a series of Tweets, he said that the national foreign exchange reserves always include forex held with the State Bank of Pakistan (SBP) and commercial banks.

"Recently I quoted the forex reserves figure based on this principle," he noted.

Some vested elements who ruined this country’s economy in the past gave it a deliberate twist and started a campaign as if the government was considering access to foreign exchange held with commercial banks which indeed is the property of the citizens, he highlighted.

He said, "Pakistan is moving towards improvement in its forex reserves position in the near future."

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