Former finance minister and PML-N leader Ishaq Dar spoke about the difficult time when his party was in the coalition government. He said that they paid a heavy political price to prevent Pakistan from defaulting on its international loan obligations. Dar also mentioned that Pakistan’s economy slipped from the 24th to the 40th position during this time. He added that these 14 or 15 months were a battle to prevent default and that PML-N sacrificed politics to save the state. Dar is currently in London with former prime minister Shehbaz Sharif, and they both met with Nawaz Sharif to discuss the political situation and his return to Pakistan.
Dar stated that Pakistan was at the brink of default, with some speculating a default timeline. However, they were able to prevent default by taking reserves to $13 billion and making all the necessary arrangements. Reporters questioned Dar about the issue of inflated electricity bills, to which he acknowledged that there is no quick fix. He mentioned the progress made during PML-N’s previous term and emphasized the need for the caretaker government to continue their policies for things to get better.
Dar also talked about the creation of the Pakistan Sovereign Wealth Fund, which was passed during Shehbaz Sharif’s tenure as prime minister. He expressed confidence in resetting the economy if given three or four years, citing their previous track record.
Additionally, Sindh Governor Kamran Tessori visited Shehbaz, Nawaz, and Dar, where they discussed the ongoing economic crisis and high electricity bills. Tessori quoted Nawaz stating that electricity bills were lower and the dollar-rupee exchange rate was better during his previous term. He expressed hope for Nawaz’s return and their joint effort in fighting the economic battle.
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