Pakistan Finance Minister Ishaq Dar reaffirmed on Wednesday that Pakistan will not go into default and that it will be able to get out of its current dire economic situation.
Speaking to the business community at the Federal Board of Revenue (FBR), he acknowledged that Pakistan had significant difficulties in obtaining outside financing.
“After many years, Pakistan recorded a current account surplus in March and April 2023 and gave the global economy a surprise. Many nations were sure that Pakistan would default but let me make it clear that Pakistan will not default,” Dar asserted.
He claimed that the administration was still exerting every effort to get Pakistan out of its dire economic situation.
The economic minister further said that the nation finished all technical requirements for the ninth review of the International Monetary Fund (IMF) program, which had reached a standstill.
“It is unfortunate that the beginning of this review got delayed by 3 months but we completed all prior actions,” he said.
On Tuesday, the FBR promised the business community that it would discuss its budgetary ideas with Dar to include them in the federal budget for the upcoming fiscal year.
