Forex reserves ....
is the highest in the country’s history, according to the finance ministry.
“This represents a 60 percent increase in the last three years, representing an average increase of 20 percent per annum,” the finance ministry said in a statement to mark the beginning of the new fiscal year.
“Total tax collection goes to the provinces to spend on education, health and other sectors,” it said.
The ministry said foreign exchange reserves had crossed $23 billion, the highest in the country’s history. The sum includes reserves held by the central bank and commercial banks.
The IMF helped Pakistan stave off a default in 2013 with a $6.7 billion financial assistance programme.