Islamabad: Pakistan’s Finance Minister and Deputy Prime Minister Ishaq Dar has confidently stated that the country will never default on its financial obligations. Speaking at a ceremony in Islamabad, Dar emphasized the need to eliminate negative attitudes and expressed strong optimism about Pakistan’s economic stability.
Dar addressed concerns about potential default by stating, “To those spreading despair, know that Pakistan will not default. My sole agenda has been to ensure the country does not face default.” He highlighted his efforts over the past 15 months, describing them as a battle to protect Pakistan from economic failure.
The Finance Minister acknowledged the country’s $130 billion foreign debt but reassured that the nation’s economy possesses significant potential. He also noted that billions of dollars in foreign investment have left the country over the past two years, but the primary focus of the Pakistan Democratic Movement (PDM) government has been to prevent a default.
Dar outlined that Pakistan is on the path to development despite limited resources and ongoing challenges. He stressed that structural reforms and increased exports are crucial for economic growth. The government is concentrating on boosting foreign direct investment and expanding exports.
Furthermore, Dar reported that inflation has decreased from 30% to 10%, reflecting progress in economic management. He also referenced his past efforts in economic diplomacy, including the 2016 integration of stock markets, as examples of his commitment to improving Pakistan’s economic landscape.
Pakistan Will Never Default, Assures Finance Minister Ishaq Dar
