Pakistan’s foreign reserves cross $ 16 billion

The total liquid foreign reserves of Pakistan increased to US$ 16,015.8 million while the reserves held by the State Bank of Pakistan inched up to $ 11,146.8 million as of March 14, 2025.

“During the week ended on 14-Mar-2025, SBP reserves increased by US$ 49 million to US$ 11,146.8 million,” the central bank Thursday reported in its weekly statement on liquid foreign reserves position.

Meanwhile, the net foreign reserves held by commercial banks also increased to $ 4,869 million, the breakup of the foreign reserves for the period under review depicted.

Total liquid foreign reserves held by the country, in the previous week ended on March 07, 2025, were $ 15,928.9 million.

Among them foreign reserves held by the central bank were recorded as $ 11,097.9 million while net reserves of $ 4,831 million were held by commercial banks.

On the other hand, the Central Directorate of National Savings (CDNS) has achieved a target of Rs 1 trillion in fresh bonds and attained 60.61 percent of the annual target for the ongoing second half of the current fiscal year, from July 1 to March 19, 2025.

The senior official of CDNS told APP on Thursday that the CDNS has set an annual target of Rs 1650 billion for the current Fiscal Year, 2024-25, which will promote the country’s saving culture.

Similarly, the CDNS has set a target of Rs170 billion in investments in Islamic finance for the Current Fiscal Year, which will lead to the growth of the Islamic economy in the country.

Replying to a question, he said that the CDNS has realized a target of Rs1.742 trillion in fresh bonds and exceeded 100 percent of the annual target in the last fiscal year 2023-24, from July 1 to June 30.

National Savings has set an annual target of Rs1.7 trillion for the year 2023-24; it is encouraging that this year, “We surpassed the 100 percent of the annual target.”

The CDNS surpassed the annual target and achieved the target of Rs 1.6 trillion in fresh bonds in the previous fiscal year 2022-23, he said.

He said it was an Rs 200 billion additional annual target than the target of Rs 1300 billion for the previous financial year 2021-22.

The CDNS has set a reviewed saving target of Rs 1.4 trillion for the financial year (2021-22) which will promote a savings culture in the country, he said, adding that given the current market trend in the country, the ambitious target had been set to further improve the savings culture.

The official said that work was being done on institutional reforms in CDNS and new reforms and innovations were being introduced.

At this time, Automated Teller Machine (ATM) has also been introduced in CDNS, which will provide enough facilities to the users,” he added.

The official said that the directorate had set a target of Rs 75 billion for the new financial year 2023-24 for Islamic finance bonds.

Replying to a question, he said the CDNS aimed to introduce new dimensions in the Islamic finance sector.