ISLAMABAD: Finance Minister Ishaq Dar said that his team managed present economic crisis in way that he believed it might surprise International Monetary Fund (IMF).

Addressing ceremony of Federal Board of Revenue (FBR), he said that Pakistan was rated macro-economically unstable before elections in 2013, adding that it was declared that it would default shortly. “Pakistan countered situation back then and would come out of it now too, he added. He went on to say that Pakistan had completed technical work on IMF’s ninth review adding that it was unfortunate that it was started three months later. “We have completed all prior conditions,” he added.

Dar said that IMF’s calculations were based on certain current account deficit projections, adding that Pakistan would not default. “Pakistan only completed one IMF program and that too in 2013-16,” he added. He urged FBR community to suggest practical proposals to steer economy out of quagmire, adding that everyone had to play their role. “I apologise for delay as it must have been signed months ago,” he added.

Published in The Daily National Courier, May, 25 2023

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