Pakistan Finance Condition
Pakistan Finance Minister Miftah Ismail warns of 'bad days' ahead
Islamabad: Finance Minister Miftah Ismail has warned that Pakistan, a nation battling financial crisis, might be facing 'bad days' ahead.
In his address to an event at the Pakistan Stock Exchange (PSX) in the metropolis, the finance minister was quoted as saying by Geo News: "We are on the right track, but obviously we might see bad days. However, we are on the right track and if we control our imports for three months, we can boost our exports through various means."
Speaking on the issue of budget deficit, he said: "When you raise the budget deficit and also increase the loans by 80%, it has an adverse impact on the economy."
He said PM Shehbaz Sharif-led government was "suffering" due to PTI's economic policies.
He noted that the government, after being formed, had to save the country from default, therefore, it took some immediate and short-term measures.
"Maybe it was unwise in the long-term," he was quoted as saying by Geo News.
The finance minister said that through the measures that the government has taken, imports will decrease, resulting in the appreciation of the rupee.
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