Pakistan will repay foreign debt on time: Dar

ISLAMABAD: Finance Minister Ishaq Dar Tuesday said that the Pakistan will repay foreign debt against international bonds on time.

The finance minister said at a meeting with a delegation of institutional investors at Finance Division.

Ishaq Dar further asserted that present government aims at successfully completing the IMF program and shared that the government will repay the international bonds on time. Further, there was no plan to approach Paris Club.

He further asserted that present government is committed to honor all of the financial commitments made by the present as well previous government with national and international financial institutions.

The delegation comprised of Managing Director Khurram Sheikh and Ms. Alia Moubayed from Jefferies, Mahmood Ali Shah Bukhari – CEO K-trade, Vice President Luis Assad Simon Tamborrel from Goldman Sachs Asset Management, Co-Chief Investment Officer James Edmon Craige from Stone Harbor Investment Partners, Portfolio Manager Carl Vermassen from Vontobel Asset Management.

While SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Pasha, Special Secretary Finance and other senior officers from Finance Division also attended the meeting.

The delegation discussed about the economic situation and outlook of the country. The delegation held a comprehensive discussion with the Finance Minister regarding IMF program, flood related expenditure and losses, market perception and outlook, as well as external account situation.

The Finance Minister welcomed the delegation and assured the delegation that the present government has taken all pragmatic measures to facilitate the business environment in Pakistan.

He shared that Pakistan is slowly but gradually moving toward economic stability and it is high time to invest in Pakistan. It was shared that reconstruction and rehabilitation phase will start in the coming months. The Finance Minister appreciated the friendly countries for their flood relief support.

In conclusion, the delegation thanked the Finance Minister for their positive response and support.