Anti-state elements spreading rumours about Pakistan’s default: Ishaq Dar

Anti-state elements, spreading rumours, Pakistan's default, Ishaq Dar

ISLAMABAD: Finance Minister Ishaq Dar on Thursday stated that the anti-Pakistan elements are spreading ‘rumours’ about the default of the country, which is contrary to the facts, ARY News reported.

The federal minister wrote in a tweet that anti-Pakistan elements are spreading malicious ‘rumors’ that Pakistan may default. This is not only completely false but also belies the facts.

He added that the State Bank of Pakistan’s (SBP) forex reserves have been increasing and are almost US $ 1 billion higher than four weeks ago despite making all external due payments on time.

“Foreign commercial banks have started extending facilities to Pakistan,” Dar stated.

The finance minister claimed that all economic indicators are slowly moving in the right direction. Moreover, he maintained that the negotiations with IMF are about to conclude and expects to sign Staff Level Agreement with IMF by next week.

READ: PM SHEHBAZ ANNOUNCES ‘INFLATION WILL INCREASE AFTER IMF AGREEMENT’

Last month, Finance Minister Ishaq Dar advised citizens to adopt austerity measures due to the economic crisis.

Senate Chairman Sadiq Sanjrani chaired a special meeting of the Business Advisory Committee which was attended by Finance Minister Ishaq Dar and other lawmakers.

Ishaq Dar said that Pakistan is going through an economic crisis, however, there is no risk of default. He urged that by effective government policies, the economic crisis will end soon.

Sadiq Sanjrani said that a special session of the Senate is summoned from March 15 to 17 which will also be attended by the former senators. He added that all participants will be given an opportunity to present their points of view.