Pakistan’s foreign exchange reserves increased by $600 million

The foreign exchange reserves of Pakistan have further increased by six hundred million dollars.

This was stated by Prime Minister Shehbaz Sharif While launching the Prime Minister’s Youth Sports Initiative in Islamabad today (Tuesday, July 18^th). He said the Exim Bank of China has provided this rollover to the country. The foreign exchange reserves of Pakistan are increasing but we want to do it not through loans but by generating our income, he said, adding that it is possible as our youth has the potential to excel and take the country forward in the fields of sports, Information Technology, industries, and agriculture.

On this occasion, the Prime Minister also paid glowing tributes to the athletes for earning fame for Pakistan through their outstanding performances and said five billion rupees have been allocated in the budget to meet the necessary expenditures in connection with the promotion of sports. He said if provided with the opportunity after the elections, they would provide more resources for education, skills development, and promotion of sports.

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The Prime Minister’s Youth Sports Initiative encompasses the establishment of the Sports Endowment Fund, the country’s first sports University in Islamabad, the Elite Sportsperson Development Program, and measures for the promotion of traditional as well as e-sports.

Speaking on the occasion, Minister for Interprovincial Coordination Ehsan-ur-Rehman Mazari said a number of initiatives have been taken over the last 15 months to further strengthen sports infrastructure in Pakistan. He said a sports policy has also been prepared to promote various sports. Structural reforms have also been introduced in the departments concerned in order to enable our youth better compete at international events.

On this occasion, the Special Assistant to Prime Minister on Youth Affairs Shaza Fatima Khawaja recalled that PM Shehbaz Sharif revived the departmental sports after assuming the power to nourish the capacity and capabilities of athletes. She said the sports elements have also been included in the Prime Minister Youth Program under which talent hunt programs for hockey, football, and volleyball have been conducted across the country.