Ayaz Sadiq claims Pakistan will never default

ISLAMABAD: Federal Minister for Economic Affairs Ayaz Sadiq claimed on Thursday that Pakistan will never default and the elements spreading disinformation will be defeated, ARY News reported.

Ayaz Sadiq said in a statement that the federal government took difficult decisions for improving the national economy and prioritised the state on politics for the economic reforms.

He claimed that global financing institutions are standing alongside the Pakistan. He added that the Asian Development Bank (ADB) is providing the financial assistance of $2.6 billion to Pakistan.

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On the other hand, former finance minister and Pakistan Muslim League Nawaz (PML-N) leader Miftah Ismail said that the International Monetary Fund (IMF) program is inevitable to avoid default risk.

While talking to the ARY News programme ‘11th House’ today, Miftah Ismail said that the IMF program is necessary to revive the national economy, otherwise, the country will be headed towards default.

The former finance minister said that the government could negotiate with the IMF if the global lending institution demands to increase taxes worth Rs800 billion. He admitted that economic difficulties are caused due to the increase in expenditures.

READ: MIFTAH ISMAIL CLAIMS PAKISTAN’S DEFAULT RISK HAS INCREASED

Ismail said Pakistan could technically face default if IMF rejects to come back to the program. He claimed that Pakistan is facing the consequences of several wrong decisions.

Criticising the previous Pakistan Tehreek-e-Insaf (PTI) government, Miftah Ismail said that Imran Khan is the father of the default and he was solely responsible for the deteriorated economic situation. He added that the wrong decisions taken by the past government destroyed the national economy.