Pakistan still under default threat: PML-N’s Miftah Ismail
Former Finance Minister and PML-N leader Miftah Ismail claimed that Pakistan’s default risk won’t subside until and unless the International Monetary Fund (IMF) came to the table.
Talking to private news channel, former finance minister said that PTI chairman Imran Khan pushed Pakistan towards default.
Miftah said: “Pakistan should not default; however, I definitely believe that the path we are on might take us towards default as the economic challenges have increased. We should take steps to avoid the danger.”
“Pakistan is in jeopardy; it has gone back in jeopardy and as long as IMF is not back on the table, the threat of default will remain high,” added.
Referring to his tenure as Finmin, Miftah said that he had taken tough decisions against the will of the Prime Minister Shehbaz Sharif as Pakistan is above politics, adding that, otherwise there will be no difference between PML-N and Imran Khan.
He reiterated that the country has not reached at the point of default because of Ishaq Dar but as of Imran Khan.
Talking about the conditions he was ousted as Finmin, Miftah said: “I was not removed in a good way.”
Pakistan ended its immediate default risk earlier this month when the State Bank of Pakistan (SBP) made the payment of $1 billion for the sukuk bond.
But since then, the foreign exchange reserves have hit a critical level after falling 10.45% to $6,714.9 million, a four-year low , as of December 2.