In an over 35-minutes online address to Pakistan Stock Exchange (PSX), the minister reiterated that the country would not default on any international payments including foreign debt. Dar admitted that he and his economic team were managing in a tight position. “We don’t have foreign exchange reserves of $24 billion which we had in 2016. "Pseudo intellectuals …and people (mostly the rival politicians) with vested interests have been propagating that Pakistan will default,” the minister claimed. "Pakistan's foreign exchange reserves would be at a much improved level when we close the current fiscal year on June 3, 2023," he assured the PSX investors.

Source: The Express Tribune December 29, 2022 04:04 UTC