ISLAMABAD: Minister for Finance and Revenue Senator Ishaq Dar said that there was no chance of default despite fact that country was passing through precarious situation.

“Pakistan has not defaulted nor would it default. Yes we were at precarious position and we are passing through it,” he said while addressing press conference here.

He said, although reserves held by State Bank of Pakistan (SBP) depleted to $ 2.8 billion, national reserves were still at $ 9 billion. He said, it was strange that Imran Khan has been talking about default of and on despite fact that he himself was responsible for bringing economy to this position during his 42 months government.

It was his finance minister who talked to provincial finance minister advising them not to cooperate with government and let not issue with International Monetary Fund resolved.

He said, when incumbent government took over, it was left with options either to save politics or country and it had chosen second one, which was an appreciable decision. He said, instead of joining hands to think about how to steer through crisis, Imran Khan only knows how to criticise government and inflict losses on country. He said when Imran Khan speaks negatively, it is noted worldwide and have impact on markets.

Meanwhile, Dar appreciated reaction  given by Chinese Foreign Office on report of Bloomberg regarding Pakistan’ loans saying reaction reflects deep friendship and relations between two countries. 

Earlier, Chinese Foreign Ministry Spokesperson Mao Ning, at media briefing in Beijing had urged commercial creditors and multilateral financial institutions to help Pakistan in its efforts for economic stability.

She also called for concerted efforts of all financial institutions to play constructive role in economic and social development of Pakistan.

Published in The Daily National Courier, March, 04 2023

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