Pakistan Muslim League – Nawaz (PML-N) leader and former federal financeminister Miftah Ismail link hasclaimed that Pakistan is on the verge of ‘default’ as risk has reached adangerous level.
Miftah Ismail link in one of hisarticles claimed rejected the claim of the incumbent Finance Minister IshaqDar regarding the economy and clearly said that the risk of bankruptcy ofPakistan has increased to a dangerous level. “Now the government has noroom for error.”
Miftah Ismail further said that even after paying off the bonds inDecember, the risk of bankruptcy will not end. The PML-N stalwart went onto say that government has no right to criticize PTI or anyone else if itdoes not do the right thing.
The former minister in his article described the devaluation of the rupeeas a major problem in the country’s economy and wrote that today there is alarge and constant gap between the open market and interbank exchange rates.
The former finance minister has advised his government that now is the timeto prioritize national interest over political interest.
If the current government is unable to do the right thing for the country,then it has no right to criticize PTI or anyone else, he maintained.
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Finance Minister Ishaq Dar said that there is less than 10% probability ofPakistan’s default as per Bloomberg’s analysis.
Finance Minister Ishaq Dar ruled out the risks of Pakistan’s default andsaid, “Bloomberg pitches Pakistan’s one-year probability of default at alow of 10% as opposed to a highly dubious number of 93% circulated by anunscrupulous local political leader a few days ago.”
“Pakistan will InshaAllah continue to honour its all financial commitmentson time,” he added
