There has been a lot of speculation regarding the financial status of Pakistan with several analysts suggesting that Pakistan will default in the near time because of huge amounts of unpaid debt and the rising inflation rate each day.
However, Finance Minister Ishaq Dar has something else to say contrary to popular opinion at the moment.
Ishaq Dar suggests that Pakistan has no chance of default. He said, “we hear every day that Pakistan will default. How will it default? There is no chance.”
He attended a ceremony to celebrate the first listing of REITs on the Pakistan Stock Exchange (PSX). During this ceremony, he addressed the investors and assured them that Pakistan has a beautiful and resilient future ahead, therefore there is no need to worry.
He further said to the investors, “Yes, we are in a tight [fiscal] position and we do not have $24 billion in reserves which [the PML-N government] left in 2016 but that is not my fault. The fault is in the system and we must ensure that everyone works together for Pakistan’s progress.”