Economic growth is positive, according to Dar

Ishaq Dar, Pakistan's finance minister, stated on Saturday that despite the opposition's propaganda, Pakistan is moving in the right direction and won't default.

"Pakistan won't default only as a result of opposition propaganda (Pakistan Tehreek-i-Insaf). The country is moving in the right direction and is not on the verge of default, Mr. Dar said during his conversation with businesses.

Imran Khan, the chairman of the PTI, and other PTI leaders have been forecasting that Pakistan will declare bankruptcy due to the "bad policies" of the coalition government led by the PML-N. According to Mr. Khan, the economy of the nation can only be stabilized if a stable government is put in place following new elections and takes action.

Mr. Dar added that the opposition was harming the nation's "economic cause." In addition, the opposition is attempting to discourage foreign investment in the nation by spreading allegations of corruption. He emphasized that the PTI must have a serious attitude and refrain from meddling in the national economy.

The minister regretted how he had been treated during the previous PML administration. The way I was treated was terroristic. And my only transgression was addressing the nation's economic problems. For five years, I was compelled to live in self-exile (in the UK)," Mr. Dar added.

He also criticized the PTI and PML-N administrations for continuing the rupee devaluation policies. "We reduced the rupee's worth. I made it clear under Shahid Khaqan Abbasi that the government could not stop the depreciation of our currency if a devaluation policy was followed, he stated.

Miftah Ismail, the former finance minister of Ishaq Dar's party, received criticism for his policies. After obtaining bail in a NAB corruption reference and returning from London in September, Mr. Dar took over for Mr. Ismail and focused on stabilizing the local currency.

The rupee experienced an upward trend during his first few weeks in power, but recently it has been struggling. Its value versus the US dollar is currently over Rs230, and foreign cash, particularly the US dollar and Euro, is scarcely accessible on the open market.

Mr. Dar declared that further economic experimentation was not possible. He said that the administration had made the decision to ban smuggling of wheat on a war footing and said, "We are trying our best to stabilize the economy.

According to him, Pakistan should have become a member of the G-20 at the time the PML-N government's term ended given the pace of its growth. Instead, "our economy is today rated 46th in the world," he complained.

The finance minister recalled that when the PML-N administration first assumed office in 2013, many predicted that the nation was on the verge of defaulting, but they were successful in stopping it.

Mr. Dar responded to the difficulties the PDM government is now experiencing by saying, "We will have to work hard and focus on improving Pakistan's macroeconomic metrics."

He claimed that although "here, the wealthiest get their loans cancelled off, but if [repayments of] loans of a few thousand poor widows are late, their properties are taken."

Participating businessman Gohar Ijaz pleaded with the government to lower the interest rate. Why can't we, he questioned, given that Turkey had managed to maintain a low interest rate despite inflation.