Former finance minister and PML-N leader Ishaq Dar has said that the PML-N paid a heavy political price to save Pakistan from bankruptcy due to its foreign debt obligations.
During a media briefing after a high-level meeting with PML-N leaders Nawaz Sharif and Shehbaz Sharif, Ishaq Dar spoke about his brief tenure in the coalition government.
He said that our country was on the verge of bankruptcy and our economy had come down from 24th to 40th position, it was the result of the project (Imran Khan) which was launched in 2011 and then became prime minister in 2018.
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He said that the 14 to 15 months of coalition government were like a war to save the country from bankruptcy, the PML-N paid a big political price for it, but it was necessary. He said that they sacrificed politics to save the state.
Ishaq Dar, who is in London with former prime minister Shehbaz Sharif, met Nawaz Sharif to discuss the current political situation and Nawaz Sharif’s return to Pakistan.
Ishaq Dar further said that the world was expecting that Pakistan would default, even some people inside the country were speculating about bankruptcy but we did not go bankrupt. “We increased the reserves to $13 billion, at the end of April Fitch predicted that Pakistan could not arrange for its debt repayments but we made all our debt payments.”
In response to a question about high electricity bills, he said that there is no immediate solution to this problem, in our previous tenure in 2013-18, we fixed the economy, ended load shedding and eliminated terrorism, the lowest inflation, the highest foreign exchange reserves, south Asia’s best stock market and significant GDP growth.