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Federal Finance Minister Miftah Ismail dominated out the potential for default for Pakistan, saying the incumbent authorities has steered the nation out of the chance.
Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan created the specter of default for the nation, the minister mentioned talking on the Geo Information programme “Aaj Shahzeb Khanzada Kay Sath” on Monday.
“Nonetheless, there is no such thing as a probability of default, now,” he mentioned.
Miftah Ismail mentioned, “Flash floods worsened the [economic] state of affairs. However, we’ll effectively handle the economic system. There can be no risk to the nation’s economic system.”
The finance minister additional mentioned that the federal government would take up measures within the subsequent 4 to 5 days that can carry stability to the forex market.
He mentioned that some banks, benefiting from the state of affairs, bought costly {dollars}. The Prime Minister has taken strict discover of those banks and demanded a report from the Governor State Financial institution in two days, the minister mentioned.
As well as, eight banks have been served with notices on this regard and also will be penalized.
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