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ISLAMABAD: Minister of State for Finance Dr Aisha Ghaus Pasha Tuesday stated that Pakistan would neither go the Paris Club nor the country would default on payments to multilateral, international agencies or commercial banks.

Talking to media persons after the Senate Standing Committee on Finance meeting, the minister said as already stated by the finance minister, we will make payments as and when they would become due.

The state minister further stated that Ishaq Dar has explained with clarity that Pakistan is not considering going to the Paris Club and multilateral loan rescheduling.

Dar explains country’s debt burden

However, the minister added that as far as bilateral countries are concerned, the finance minister has stated the government would consider it but made it clear that there would be no haircut. Pasha said that this clarity is present at all levels.

The minister said the economic team of the country is constantly in touch with the International Monetary Fund (IMF) and the Fund has held a meeting with the FBR as well as the SBP besides meetings with the Finance Division.

There is regular back and forth of the IMF with the Finance Division and the fund is not only taking data but is also seeking details and clarities. If both sides are engaged and are constantly in touch then there is no reason to lose hope, she added.

Responding to questions, she said the government is not giving any amnesty to overseas Pakistanis in the budget and with respect to a question about increasing the remittances’ limit; the minister said that this provision was already in the law and it has only been updated following the depreciation of the exchange rate.

Copyright Business Recorder, 2023

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