Overseas trade reserves proceed to surge

KARACHI: Overseas trade inflows proceed to surge as staff’ remittance by abroad Pakistanis have been recorded at US greenback 1.81 billion, a rise of 9.4% in November 2019 in comparison with the identical interval final 12 months.

Finance Division Spokesperson Omar Hamid Khan took to Twitter saying remittances in 5 months of FY 2019-20 have reached 9.three billion {dollars}.

The State Financial institution of Pakistan (SBP) on Tuesday acquired $1.three billion from the Asian Growth Financial institution (ADB) beneath the price range assist fund.

SBP on its official twitter deal with confirmed the switch of the mortgage quantity to Pakistan.

The ADB has reaffirmed its dedication to proceed supporting Pakistan on the financial entrance.

Learn extra: ADB approves further $200mn for social safety initiatives in Pakistan

Yesterday, Pakistan and the Asian Growth Financial institution (ADB) had signed a mortgage settlement of $1.2 billion in Islamabad.

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