Miftah Ismail admits Pakistan’s Default Risk Reaches Alarming Levels. Criticizing his party-led federal government. Miftah claimed that Pakistan is on the edge of ‘default’ as risk has reached a dangerous level.
Former federal finance minister in one of his articles appealed rejected the claim of the incumbent finance Minister Ishaq Dar. About the economy and clearly said that the risk of bankruptcy of Pakistan has amplified to a dangerous level. “Now the government has no room for error.”
Miftah Ismail additional said that even after paying off the bonds in December, the risk of bankruptcy will not end. The PML-N resolute went on to say that government has no right to criticize PTI or anyone else if it does not do the right thing.
In his article Miftah defined the devaluation of the rupee as a major problem in the country’s economy and wrote that today there is a large and continuous gap between the open market and interbank exchange rates.
He advised his government that now is the time to prioritize national interest over political interest.
Miftah Ismail admits Pakistan’s Default Risk Reaches Alarming Levels. If the current government is incompetent to do the right thing for the country, then it has no right to criticize PTI or anyone else, he maintained.
Read Also: Ishaq Dar: less than 10% Probability of Pakistan’s default
Finance Minister Ishaq Dar said that there is less than 10% probability of Pakistan’s default as per Bloomberg’s analysis.
“Pakistan will InshaAllah continue to honour its all financial commitments on time,” he added.