ISLAMABAD - The Ministry of Finance on Tuesday rejected the speculations on supposed economic emergency proposals in the country. The Finance Division not only strongly rebuts the assertions made in the spread message but also categorically denies it saying there is no planning to impose economic emergency. “The message is unfortunately aimed at creating uncertainty about the economic situation in the country and can only spread by those who do not want to see Pakistan prosper”. Creation and spread of such false messages is against the national interests in these times of economic hardships. A mere reading of the nine points mentioned in the message indicates how far-fetched those suggestions are. It is also quite inappropriate to equate Pakistan with Sri Lanka, given inherent strength and diversity in Pakistan’s economy. The present difficult economic situation is mainly the result of exogenous factors like commodity super-cycle, Russia-Ukraine war, global recession, trade headwinds, federal government’s increase in policy rates and devastation wreaked by unprecedented floods. The finance ministry said that the government has been making utmost efforts to minimize the impact of such external factors, even when faced with the economic consequences of unprecedented floods and having to meet IMF conditionalities. The government remains committed to completing the IMF program while meeting all external debt repayments on time, it added. It said that in this challenging economic situation, the government has put in place a number of austerity measures with the approval of the Federal Cabinet.
PM vows to promote principles of freedom of expression, free media