Islamabad: Minister of State for Finance and Revenue Dr Aisha Ghaus Pasha stressed that Pakistan would not default on its international obligations and government would ensure timely external debt payments.

Her comments came as despite assurances from government about country's finances situation remains gloomy and experts warn of an economic crunch ahead.

In conversation with journalists here, she added that there is "No chance" of Pakistan's default as authorities were in talks with Saudi Arabia for $ 3 billion loan and same amount from $ 3 billion.

"We will also ensure that our foreign debt requirements are met," she said, as Pakistan faces an uphill task of repaying loans amid depleting forex reserves.

Amid crisis-like situation, Pakistan will have to repay approximately $ 8.3 billion in shape of external debt servicing over next three months (Jan-March) of current fiscal year.

Government is eyeing to pass ninth review of International Monetary Fund to secure a $ 1.7 billion bailout package, but both sides have made no substantial headway in recent days.

Published in The Daily National Courier, December, 30 2022

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