Finance Minister responds over reports of Pakistan facing default risks

Finance Minister responds over reports of Pakistan facing default risks

Federal Finance Minister Ishaq Dar has ruled out any risk of default facing Pakistan, saying “some people” for their vested interests are hurting the country’s economy.

Addressing a Karachi Stock Exchange ceremony through Zoom on Wednesday, Ishaq Dar said people were being “intimidated”, that was why some were buying dollars and the others gold.

The finance minister called for an end to the anti-Pakistan propaganda.

The finance minister also criticised the previous government, saying that no attention had been paid to Security and Exchange Commission of Pakistan (SECP) during the tenure of Pakistan Tehreek-e-Insaf (PTI).

He said that the government was trying to improve the economy of the country, adding that the stock exchange had a key role in improving the national economy.

“We need to focus on the corporate sector. When I took the responsibility as the finance minister, we put our focus on the SECP and the stock exchange,” he added.

“In our previous tenure, the Pakistan Stock Exchange was a big market in South Asia,” he claimed and added that the business community stood by the government for the development of the country.

“Filthy propaganda against Pakistan must be stopped. The entire world is facing difficult economic conditions. Even in 2013, it was said that the country would default in six months,” he asserted.

“We will not go to the Paris Club. A damage is being extended to the country for cheap politics. We should learn from our past mistakes,” he emphasised.

“There are serious problems, but we have to find a solution. We have to save our country. Smuggling of dollars to a neighbouring country is a big problem. The prevention of the smuggling of dollars, wheat and fertilizers has been directed,” he stated.