Monday, July 15, 2024

Pakistan’s ‘Default Risk’ Reaches Alarming Levels, Admits Miftah Ismail

Former finance minister and Pakistan Muslim League – Nawaz (PML-N) leader claimed while criticising his party led federal government that Country is on edge of default as risk is now at alarming level now.

Miftah Ismail claimed in his articles, rejected the claim of required Finance Minister Ishaq Dar regarding the economy and clearly stated that the bankruptcy risk of Pakistan has grew to a dangerous level,”“Now the government has no room for error.”

He further stated that after paying off the bonds in December, the risk wouldn’t end. However, the government has no rights to criticize PTI or anyone else if they haven’t done the correct things.

Ismail’s article explains the devaluation of the Pakistani currency as the basic problem in Pakistan’s economy and stated that there is a huge and constant gap between the open market and interbank exchange rates.

However, he advised the government to prioritize the national interest rather than the political interest.

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