Minister of State for Finance and Revenue Aisha Ghaus Pasha told the National Assembly on Friday that the country is no longer facing the danger of defaulting because Pakistan is committed to the International Monetary Fund (IMF) programme.
The development comes as Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan on Friday claimed that Pakistan's default risk had risen to 75% and accused the coalition government of causing this increase.
Addressing the National Assembly on the same day, Aisha denied the likelihood of Pakistan defaulting. Pakistan Peoples Party (PPP) MNA Rafiq Mahesar asked Aisha explicitly if Pakistan was going to default, to which she said, "Alhamdulillah [Thank God], there is no such possibility. Yes, we were worried when we took over the government because at that time the IMF programme was suspended and the avenues of getting external finances were closed for us."
However, she said that ever since the incumbent government revived the IMF programme, and took 'difficult decisions', things have been a lot better. "After the successful seventh and eighth reviews of the IMF programme, there is no immediate threat of Pakistan going to default," she said, claiming that the country's exports had improved and foreign investment was also showing signs of improvement.
The development comes as Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan on Friday claimed that Pakistan's default risk had risen to 75% and accused the coalition government of causing this increase.
Addressing the National Assembly on the same day, Aisha denied the likelihood of Pakistan defaulting. Pakistan Peoples Party (PPP) MNA Rafiq Mahesar asked Aisha explicitly if Pakistan was going to default, to which she said, "Alhamdulillah [Thank God], there is no such possibility. Yes, we were worried when we took over the government because at that time the IMF programme was suspended and the avenues of getting external finances were closed for us."
However, she said that ever since the incumbent government revived the IMF programme, and took 'difficult decisions', things have been a lot better. "After the successful seventh and eighth reviews of the IMF programme, there is no immediate threat of Pakistan going to default," she said, claiming that the country's exports had improved and foreign investment was also showing signs of improvement.