Saturday, June 15, 2024

Pakistan Suffered a Huge Financial Loss due to Ishaq Dar’s Policies: Miftah Ismail

Recently, Miftah Ismail Former finance minister and Pakistan Muslim League-Nawaz (PML-N) leader said, Pakistan has suffered a huge financial loss due to Ishaq Dar’s approach of not having followed the International Monetary Fund (IMF) conditions.”

Miftah stated during a show on local channel that “when Dar was appointed, he thought that he could run the economy without the IMF or amend the terms of the agreement”.

“He was bent on giving a cold shoulder to the IMF but now it is clear that Pakistan will move forward with the Fund.”

To stabilise Pakistani currency Ishaq Dar had seemingly intervened in the currency market, as per reports much to the annoyance of the lender that insisted that Pakistan follow a free-floating exchange rate.

At the same moment, there were other terms that Pakistan failed to get a move on, developments that stalled the ninth review of the IMF’s bailout programme.

However, recently, the Pakistani currency witnessed the huge decline against the US dollar in the interbank market, as Pakistan moved to fulfil part of the IMF conditions.

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