Islamabad: Minister for Finance and Revenue Senator Ishaq Dar credited Pakistan Democratic Movement-led government’s “Best strategy” for steering country out of economic crisis.

At an event in Madina, Saudi Arabia comes as $ 350 billion economy faces one of its worst economic and political crises, with persistent threat of default. Hitting out at Pakistan Tehreek-e-Insaf he said previous government had “Brought country to brink of default”, but current rulers “Preferred” to save nation instead of its votes. “To all those chanting ‘default, default’, listen, Pakistan will never default,” minister said, noting that government repaid $ 11 billion in debt in last six months.

Major hurdle in way of dampening economic crisis is stalled International Monetary Fund programme that has been on hold since last year, which resulted in pause in funds from bilaterals and multilaterals. But doubling down on Prime Minister Shehbaz Sharif’s statement, he said Pakistan has completed all prerequisites for IMF programme’s resumption.

China has rolled over around $ 2 billion, while Saudi Arabia and United Arab Emirates have confirmed their commitments of $ 2 billion and $ 1 billion, respectively to Fund.

Published in The Daily National Courier, April, 20 2023

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