Pakistan will soon come out of current economic crisis: Dar

Dar announces over Rs19 hike in prices of petroleum products

ISLAMABAD: Finance Minister Ishaq Dar expressed his confidence that Pakistan would overcome the ongoing economic crisis through collective efforts. He conveyed this message during separate meetings with delegations from the chambers of commerce and industry of Lahore and Faisalabad, who visited him in Islamabad .
The Finance Minister acknowledged that the country had faced a downward slide in its economy but emphasized that the strenuous efforts of the coalition government, led by Prime Minister Shehbaz Sharif, had halted this decline. He stressed the importance of unity and collaboration from all stakeholders to navigate Pakistan out of the current situation.
Ishaq Dar further stated that the government would make every possible endeavor to formulate a balanced federal budget, taking into account the economic constraints faced by the country. He assured the delegations that the business community would not be burdened unnecessarily, and the government would strive to alleviate their concerns.
The Finance Minister highlighted that the coalition government had made difficult decisions to fulfill Pakistan’s international obligations and ensure timely compliance with the country’s sovereign commitments.
Finance Minister Ishaq Dar said that they would make an effort not to burden the public in the budget, but they are constrained due to the International Monetary Fund (IMF).
He stated that whenever Pakistan’s economy starts to improve, some unfortunate incident occurs. In the past, Pakistan had made it to the 24th best economy in the world, but due to the ninth review by the IMF, everything has changed. The country suffered losses due to the previous government’s failure to fulfill its promises.
The Finance Minister mentioned that during the time of atomic explosions in 1999, Pakistan faced the worst sanctions, yet they managed to overcome the difficulties. He was confident that the government will soon overcome the current challenging times as well.


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