Karachi: Finance Minister Ishaq Dar assured investors at Pakistan Stock Exchange (PSX) that country will not default but did admit that economy was in “Tight position”.

In his address, finance czar said he always believed that Pakistan has prosperous future and “resilience” in its economy. However, he lamented that it was unfortunate that country has been brought to point where it should not be.

“It’s been three months since I took charge and we listen every day that there is going to be default. How will there be default? There is no chance that Pakistan will default,” he assured investors.

Dar assured that Pakistan would survive and is managing itself but conceded that economy was in “Tight position”. “Fault is in system and we must ensure Pakistan goes forward,” said finance minister.

Dar said that as soon as country’s bond payments came close “Rhetoric” was started that Pakistan will not be able to fulfill its commitment. He added that despite payment of bonds “Pseudo-intellectuals” kept claiming.

“Be conscious, do not listen to them. Disseminate information that Pakistan will not default. I can prove to anyone that Pakistan will not default,” he maintained.

“Petty politics and objectives” country was being harmed. To prove his point, he said that Pakistan’s debt-to-GDP ratio is currently 72 percent while it was 62 percent when he left charge in his last stint. Dar told investors that they have big role to play and urged them to allocate some time to Pakistan apart from their businesses. He added that everyone needs to work together.

Turning his guns towards government’s arch-rival, Pakistan Tehreek-e-Insaf Dar lamented that Securities and Exchange Commission of Pakistan was neglected during former Prime Minister Imran Khan’s tenure.

He added that they focused on PSX and SECP when they came to power and made things transparent.

Published in The Daily National Courier, December, 29 2022

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