Pakistan may go into default: Finance Minister responds over media report

Pakistan may go into default: Finance Minister responds over media report
Shares

ISLAMABAD – Finance Minister Asad Umer on Thursday has responded over the media report of Pakistan going into default.

Speaking in his meeting with senior journalists in Islamabad on Thursday, he said that there was no chance that the country may default, adding that increase in the exports and remittances has decreased the trade deficit of the country.

The minister said that in 2008, during first five months of the PPP government, the inflation increased 11.2 percent and during first five months of the PML-N government in 2013, inflation increased four percent, while the inflation increased 0.4 percent during the first five months of the PTI government.

Umer went on to say that dialogues with the International Monetary Fund (IMF) is underway, while steps were being taken to get funds from alternate sources.

“The government will sign agreement with it in case of any attractive program,” Asad Umar added.

Economy