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Tuesday May 21, 2024

Pakistan not to default: Ishaq Dar

Ishaq Dar maintained that no more experiments could be done with the country’s economy as the country had gone through its “darkest economic periods”

By News Desk
December 11, 2022
Finance Minister Ishaq Dar. The News/File
Finance Minister Ishaq Dar. The News/File 

ISLAMABAD: Finance Minister Ishaq Dar Saturday maintained that no more experiments could be done with the country’s economy as the country had gone through its “darkest economic periods” during the previous government’s tenure, Geo News reported.

The minister, addressing a ceremony arranged by the All Pakistan Textile Mills Association in the federal capital, said that the economy was going in the right direction and the country would not default.

“The opposition is blocking avenues of investment by telling fake corruption stories. Pakistan won’t default just because the opposition has said so,” the finance minister said, rejecting rumours of default.

Criticising the opposition for giving non-serious statements on politics, Dar said: “The opposition’s frivolous statements damaged Pakistan’s reputation.”

Earlier this month, the minister slammed Pakistan Tehreek-e-Insaf Chairman Imran Khan for prioritising politics over the state.

Referring to Imran Khan’s statements about default, Dar said that he should think that he was

not serving the country by giving such remarks as it sends a “bad impression” to the international community.

The finance czar said that Pakistan’s economy is at the 46th position and that the country could have been a part of G20 nations given the pace at which it was going in the past. He added that the world kept talking about Pakistan defaulting even in 2013.

“We worked hard and delivered the budget in five days saving the country from defaulting in the process. We completed our program from 2013 to 2016, which only happened once in the country’s history,” the minister said recalling the decisions taken by his party Pakistan Muslim League-Nawaz (PMLN) during its previous tenure.

Commenting on the increase in dollar rates, the finance minister — who earlier claimed that the local unit was actually at 200 against the greenback — said that the rupee was devalued without thinking through during the PTI government.

For a better economy, Dar said that there was a need to improve economic indicators in the country and stop the smuggling of wheat from the country on a war footing.