Ishaq Dar says ‘IMF programme’s 9th review not yet finalised’

ISLAMABAD: Finance Minister Ishaq Dar said on Tuesday that Pakistan’s agreement with the International Monetary Fund (IMF) for the programme’s 9th review has not been finalised yet, ARY News reported.

While addressing an event at the Federal Board of Revenue (FBR) headquarters, Finance Minister Ishaq Dar said that everyone is aware of the country’s situation and discussions regarding Pakistan’s default had also happened in the past.

“During [the previous tenure of] PML-N government, we stabilized the national economy within three years. Rupee was stable and financial institutions acknowledged the economic status of Pakistan. In 2017, Pakistan was going to become the 24th strong economy in the world which unfortunately fell to 47th number in 2022.”

READ: Miftah Ismail says ‘Pakistan still facing default risk’

“We do not have to fall into a blame game but we have to take the country forward. The previous government reversed the economic progress. We are trying to finalise a public and business-friendly budget. We were bound to take tough decisions due to the wrong policies of the PTI government.”

“For staff-level agreement, we have fulfilled all conditions set by the IMF. However, the programme’s 9th review is still pending. We are continuously making efforts to improve the economic situation. It is a difficult time for the economy but there is no need to worry.”

The finance minister said that an untoward incident occurred in Pakistan whenever the country is making progress. He vowed that the government will give maximum relief to the nationals in the next budget.

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On Sunday, Dar said that Pakistan will overcome the economic crisis with or without the International Monetary Fund (IMF).

While talking to a private news channel, Ishaq Dar said that Pakistan will not default with or without the IMF. He added that foreign powers are surprised that Pakistan does not default so far.

He claimed that former prime minister Imran Khan had destroyed the national economy after coming into power. He added that Imran Khan’s government got a $100 billion market from the previous PML-N government but it was destroyed and Pakistan had nearly defaulted.