Saturday, December 10, 2022

Ishaq Dar rules out 'more experiments' with economy

"Opposition’s frivolous statements damaged Pakistan’s reputation," finance czar says

Finance Minister Ishaq Dar. — Reuters/ File
Finance Minister Ishaq Dar. — Reuters/ File

  • Minister deems PTI's tenure "darkest" for Pakistan's economy.
  • Dar slams opposition for hurting country's reputation by "fake corruption stories".
  • "Pakistan’s economy is at 46th position," minister says.

ISLAMABAD: Finance Minister Ishaq Dar Saturday maintained that no more experiments can be done with the country’s economy as the country went through its "darkest economic periods" during the previous government’s tenure.

The minister, addressing a ceremony by the All Pakistan Textile Mills Association in the federal capital, said that the economy is going in the right direction and the country would not default.

“The opposition is blocking avenues of investment by telling fake corruption stories. Pakistan won’t default just because the opposition has said so,” the finance minister said rejecting rumours of default.

Criticising the opposition for giving non-serious statements about politics, Dar said: “The opposition’s frivolous statements damaged Pakistan’s reputation."

Earlier this month, the minister slammed Pakistan Tehreek-e-Insaf Chairman Imran Khan for prioritising politics over the state.

Referring to Khan’s statements about default, Dar said that he should think that he was not serving the country by giving such remarks as it sends a "bad impression" to the international community.

The finance czar said that Pakistan’s economy is at the 46th position and that the country could have been a part of G20 nations given the pace at which it was going in the past. He added that the world kept talking about Pakistan defaulting even in 2013.

“We worked hard and delivered the budget in five days saving the country from defaulting in the process. We completed our program from 2013 to 2016, which only happened once in the country’s history,” the minister said recalling the decisions taken by his party Pakistan Muslim League-Nawaz (PML-N) during its previous tenure.

Commenting on the increase in dollar rates, the finance minister — who earlier claimed that the local unit was actually at 200 against the greenback — said that the rupee was devalued without thinking through during the PTI government.

For a better economy, Dar said that there is a need to improve economic indicators in the country and halt the smuggling of wheat from the country on a war footing.