KARACHI: Federal Finance Minister Ishaq Dar says that Pakistan’s economy has been damaged by political game-scoring. Addressing the ceremony online at the Pakistan Stock Exchange, the Finance Minister said that there is no chance of Pakistan defaulting, domestic foreign exchange reserves are low but there is no risk of default and I can prove that Pakistan will not default. He said that even in 2013 the economic conditions were very bad and in a period of three years, Pakistan was on the verge of default but came out with better economic measures. Ishaq Dar admitted that Pakistan is currently stuck in an economic vortex for which it has become imperative to approach the IMF, issuing instructions to Chairman SECP to improve the capital market. He said that as soon as he took charge in September, he focused on Pakistan Stock Exchange and SECP, but unfortunately, no commissioners were appointed in SECP for years. Ishaq Dar said that the country’s economy can be taken in a better direction with the Pakistan Stock Exchange, the fifth stock market in the world is currently in great difficulty and there is a desire to return to the golden era of the stock market. BR policy is also being relaxed. The finance minister said that people are being scared, some are buying gold and some are buying dollars, we have to get people out of this fear. He claimed that the world will see the economic development of Pakistan. He said that Pakistan has to arrange 31 billion dollars, exports have been affected due to the energy crisis, the State Bank has issued a new circular related to imports last night in which the restrictions imposed on imports have been removed. 87, 85 and 84 have been abolished and relief has been given to the importer while the restrictions imposed on the import of energy, pharma and spare parts have also been abolished.
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