Pakistan foreign exchange reserves rise to $21.5 billion

Pakistan's foreign exchange reserves increased by 52 percent to reach $21.5 billion during the first quarter of the 2026-27 fiscal year, according to Khurram Shahzad, Federal Advisor for Economic and Financial Reforms.

Key economic indicators show total exports rose 11 percent to $11.2 billion, while remittances grew 14 percent to $10.9 billion. IT and technology exports saw an 18 percent increase, reaching $1.25 billion, and freelancer income hit a record $550 million, up 46 percent.

Tax collection by the Federal Board of Revenue (FBR) rose 7 percent to 3.1 trillion rupees, exceeding quarterly targets. Additionally, the number of income tax filers increased by 45 percent to 5.77 million. The Pakistan Stock Exchange saw a 55 percent rise in investors, surpassing 656,000 individuals.

Following an IMF program review, a staff-level agreement has been reached, with expectations of an additional $1.2 billion in financing upon board approval. Major global rating agencies have also stabilized Pakistan's sovereign credit rating in the ‘B’ category.