KARACHI, Dec 14 (EW): Former finance minister Miftah Ismail believes the path on which Pakistan is heading might take the country towards default as he called on the government to take steps to avert the looming threat.
“Pakistan should not default”. However, I definitely believe that the path we are on might take us towards default as the economic challenges have increased. We should take steps to avoid the danger [of default],” Miftah expressed these views while speaking during a talk show.
Mr Ismail said Pakistan would not be able to get loans from other global lenders if the 9th review under $7 billion Extended Fund Facility (EFF) was not completed by the Fund. He maintained that former prime minister Imran Khan had pushed the country to default.
The financial wizard said he had asked the government to impose tax on affluent segment of society for economic stabilit
The former minister said the threat of default will keep looming over Pakistan until the government completes the International Monetary Fund’s (IMF) Ninth Review. “Pakistan is in jeopardy; it has gone back in jeopardy and as long as IMF is not back on the table, the threat of default will remain high,” Miftah, who held the post of finance minister for over five months, said.
