Finance Minister Ishaq Dar rejected the rumors and said that Pakistan is not facing the default risk.
Finance Minister Ishaq Dar criticized that spreading rumors are not in national interests. He clarified that Pakistan is not facing default risk. He said in a statement that meetings are part of the political process, however, flexibility was not shown from the other side.
Finance Minister Ishaq Dar said that Imran Khan is free to go out of the assemblies, however, negotiations could not be held on conditions. He admitted that political stability is important for political stability.
He added that the government will complete the International Monetary Fund (IMF) programme at any cost and the country is ready to begin the 9th review with the global lending institution.
The finance minister further said that speculations were concluded after the appointment of the new army chief. He said that spreading rumors about Pakistan’s default risk is tantamount to causing damage to the country.
Earlier in the day, Minister of State for Finance and Revenue Dr. Aisha Ghaus Pasha ruled out the possibility of imposing an economic emergency and Rs800 billion of taxes over the demand of the International Monetary Fund (IMF).
While talking to journalists today, Dr. Aisha Ghaus Pasha said that the IMF has not demanded Pakistan impose Rs800 billion in taxes. The exchange of data is underway with the IMF.”
“The government has not planned to impose economic emergency in the country. Only speculations are being made regarding the economic emergency.”
Pasha clarified that there is no need to impose an economic emergency in Pakistan. She added that Pakistan will meet all external debt repayments on time.
The state minister further said that the government is mulling over a reduction in fuel consumption. She added some others countries are also working on plans to reduce fuel consumption. Yesterday, the Finance Ministry rebutted reports of an ‘economic emergency’ being imposed in Pakistan, saying that such messages were aimed at creating uncertainty about the economic situation.
Earlier, Finance Minister Ishaq Dar claimed that Pakistan becomes interest-free within five years as he urged the banking sector to move towards and promote Islamic banking.
He expressed the views while addressing a seminar at the Federation of Pakistan Chambers of Commerce and Industry in Karachi where speakers spoke at length about interest-free banking. In April, the Federal Shariat Court (FSC) declared the prevailing interest-based banking system as against the Sharia and directed the government to facilitate all loans under an interest-free system.