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Tuesday, June 4, 2024

No chance of default, FM Ishaq Dar assures investors

Finance Minister Ishaq Dar also urged the investors to not listen to any rumors that claim Pakistan is defaulting. He said the rumors were started by the same people who brought Pakistan to this point, he lamented.

Finance Minister Ishaq Dar has assured investors at the Pakistan Stock Exchange (PSX) that the country will not default.

According to the details, he made the comments while addressing a ceremony to mark the first listing of the developmental Real Estate Investment Trust (REIT) on the Pakistan Stock Exchange (PSX).

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

Read more: Mercurial political situation and its inverse impact on Pakistan’s economy

On the other hand, the Finance Minister also admitted that the economy was in a “tight position.” He lamented that it was unfortunate that the country has been brought to a point where it should not be.

He added that the country does not have the $24 billion reserves that the Pakistan Muslim League-Nawaz (PML-N) left in 2016 but that was not his fault.

“The fault is in the system and we must ensure Pakistan goes forward,” said the finance minister.

Finance Minister Ishaq Dar also urged the investors to not listen to any rumors that claim of Pakistan defaulting. He said the rumours were started by the same people who brought Pakistan to this point, he lamented. The finance czar said that for “petty politics and objectives” the country was being harmed.

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

“We are our own worst enemies,” he said.

The finance minister said “malicious propaganda” needed to be countered as it was making people afraid and they, in turn, were buying gold and US dollars in panic. We have serious issues but this does not mean we cannot get out of the storm we are in, he assured.

Read more: Govt stabilizing inherited tattered economy with tireless efforts: PM