Pakistan no longer faces default risk: Ahsan Iqbal

Federal Minister for Planning Development and Special Initiatives Professor Ahsan Iqbal has said t the country is not facing any danger of going to default termed Pakistan Tehreek-e-Insaf (PTI) is spreading false propaganda over the country’s default risk.

The Minister made these remarks, while addressing the Pakistani community at the Pakistani Consulate in Jeddah, where a large number of overseas Pakistanis have participated. Speaking on the occasion, the minister said the country has adopted a path of stability and saved it from going to default. “The PTI destroyed country’s economy which led to an economic crisis but the incumbent government has improved the economy by following the agreement with the IMF and for the last six months Pakistan has adopted a path of stability,” said the minister.                   

 The news about Pakistan’s default risk is based on a malicious campaign initiated by the PTI which has no reality. The incumbent government under the leadership of Prime Minister Shehbaz Sharif succeeded in removing Pakistan from the gray list, he added. 

The Minister further added that Pakistan has a long-standing and brotherly relationship with Saudi Arabia which will continue with the same spirit. We want to establish CPEC-style economic cooperation with Saudi Arabia as well as China and Saudi Arabia have been offered joint investment under CPEC, said the Minister, while highlighting the projects revived by the government under the CPEC which remained halted by the previous government of PTI.

Overseas based in Saudi Arabia are a strategic partner of Pakistan and their efforts are commendable which helps Pakistan to promote their narrative, the Minister said. The Minister also announced that a death insurance scheme will be introduced soon for overseas Pakistanis to provide support to their families in case of accidental death.                                                                  

The Minister further added that the government supports the right of overseas Pakistanis to vote, but it should be done without compromising the sanctity and security of the electoral process. “There is no secure Internet-based voting system in use in the world yet. However, various proposals are under consideration, including the proposal to give representation to overseas Pakistanis through specific seats in Parliament, said the Minister, while lauding the role of Pakistani community in the socio-economic development of Pakistan and termed them as lifeline.