KARACHI: Pakistan foreign exchange reserves witnessed a significant rise of $70 million, as per the latest data released by the State Bank of Pakistan (SBP) on Thursday.
According to the SBP’s weekly report, Pakistan’s foreign exchange reserves held by the central bank climbed to $11.516 billion as of May 23, compared to $11.447 billion recorded on May 16.
The country’s total liquid foreign reserves — including net holdings by commercial banks — stood at $16.637 billion, reflecting a modest decline of $12 million from the previous week.
Meanwhile, net reserves maintained by commercial banks dropped by $82 million during the same period, settling at $5.121 billion.
On the fiscal front, Finance Secretary Imdadullah Bosal confirmed that the federal budget for the fiscal year 2025-26 will be presented on June 10. However, the date for the Annual Plan Coordination Committee (APCC) meeting remains unannounced, and the National Economic Council (NEC) session may still face rescheduling, according to Bosal.
Adviser to the Finance Minister Khurram Shehzad also reaffirmed via his official X account that the Federal Budget FY26 is slated for June 10, while the Pakistan Economic Survey FY25 is expected to be unveiled on June 9.
This notable increase in Pakistan’s foreign exchange reserves arrives just ahead of the anticipated budget announcement, offering some relief amid broader economic uncertainties.
