PTI founder admits govt saved Pakistan from default

RAWALPINDI: Pakistan Tehreek-e-Insaf (PTI) founder Thursday admitted the government saved Pakistan from being a default, ARY News reported.

PTI founder Imran Khan was responding to queries of journalists at Adiala Jail during the hearing of the case.

“Do you agree, the government has stabilised the economy,” the journalist asked. “Government saved the economy from the verge of default,” Imran Khan responded.

Despite being saved from default, the economy is not prospering, Imran Khan added.

Read more: Pakistan evades default, revives market confidence: economists

In 2023, economic experts said Pakistan’s deal with the International Monetary Fund (IMF) saved the country from default and revived stock market confidence.

“The bullish trend in market is expected to persist for at least 10 days. It will also boost value of the Rupee, attract investment, save the country from default and create space for a new government to tackle the crisis,” experts said in their comments.

“The deal with the IMF had been better than expectations,” Mohammad Suhail, an economic expert said. “It will also help the new government to tackle the crisis,” he added.

“A bullish trend could continue in the stock market for next 10 days,” Abid Sulehri said. “Things are returning to normal after agreement with the lender, which has also revived confidence of the investors,” he added.

“The IMF deal has created investors’ interest in buying, it will help the rupee to gain value. Pakistan’s rupee is expected to gain five to seven rupees in value against the US dollar,” another expert Samiullah Tariq commented.