Former Finance Minister Miftah Ismail Tuesday warned that the path on which Pakistan is heading can take it towards default and urged the government to take measures that will avert such a situation.
“I believe that Pakistan should not default but I believe that path which we are on can take us towards default and the risk has increased,” the former minister said while talking to a private television channel.
The former finance minister warned that if the International Monetary Fund (IMF) suspends its program Pakistan would not be able to avoid default and insisted that the only way to avoid default is by continuing the IMF program.
Commenting on Finance Minister Ishaq Dar’s comment that IMF is being unreasonable, Ismail said that we should look at ground realities and must realize why we have approached the IMF over 20 times.
It is pertinent to mention here that the Finance Division said last week that negotiations with the International Monetary Fund (IMF) on the ninth review of Pakistan’s $7bn Extended Fund Facility (EFF) were at the advanced stage.
The country is yet to finalize a schedule for formal talks on the overdue ninth review.
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