ISLAMABAD – Finance Minister Ishaq Dar has categorically rejected rumoursthat the country would be unable to make payment of $1 billion againstSukuk bonds which will mature in next month (December).
In a televised address, Dar stated that Pakistan will not default and willmeet its upcoming bond payments, adding: “We will not even be close todefault”.
His remarks come after an independent brokerage house, Arif Habib Limited,said that Pakistan’s perceived risk of default has surged to 79.33 percentfrom previous 75.50%. It said that ongoing political turmoil anduncertainities surrounding the ninth review of an IMF bailout package hastriggered the risk.
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The finance minister said that Pakistan had never defaulted on itsinternational payments, adding that the bonds, which are maturing on fifthof December, will be paid on time.
