PM Shehbaz made these remarks while presiding over a meeting of the government’s economic team and vowed to “save” the economy that he said, “was destroyed by the previous government”. Earlier, Dar’s predecessor, former finance minister Miftah Ismail had said that the risk of default would remain until the resumption of the International Monetary Fund (IMF) programme. The economic team also informed the PM about the country’s foreign exchange reserves and the factors impacting the dollar. “There is no chance of bankruptcy,” the finance minister said adding that “debts will be paid on time”. PM Shehbaz directed the government’s economic team to take all necessary steps to stabilise the economy and provide relief to the people.

Source: The Express Tribune December 14, 2022 20:43 UTC