Pakistan forex reserves cross $15-billion mark

ISLAMABAD: The foreign exchange reserves of cash-strapped Pakistan have crossed $ 15-billion mark, signalling a steady improvement in its economic outlook.

Finance Minister Ishaq Dar today met Prime Minister Nawaz Sharif here and informed him about the measures taken that helped the government achieve the foreign exchange target.

He told the prime minister that the foreign exchange reserves of the country have crossed $ 15 billion, Radio Pakistan reported.

Out of the total, $ 10 billion are with the State Bank of Pakistan and the rest are with commercial banks.

Dar, earlier this month, had said that Pakistan's foreign exchange reserves will touch $ 15 billion by the end of this month.

The prime minister congratulated Dar and his team on achieving the target.

Pakistan faces huge economic challenges due to deteriorating law and order situation. The government, however, is trying to bring in more investment.