Tough decisions helped save country from default: Miftah

KARACHI    –   Federal Minister for Finance and Revenue Miftah Ismail said Saturday that the federal government had made tough decisions and saved the country from going default. He further said that the country was experiencing an incredible challenging environment.

He stated this while talking to media persons during his visit to Karachi Chamber of Commerce and Industry (KCCI) here. The federal minister said that he was never willing to go to International Monetary Fund (IMF) for loan but the circumstances compelled him to do so. He said we were giving petrol subsidy of $500 million and did not export anything.

Miftah Ismail also said the ban on import of luxury items will continue till next month, as it is in the interest of national economy. He however said import of only export supporting items can be considered to be allowed.

Miftah Ismail said the national economy is moving in the right direction due to prudent policies of the government and steps are being taken to stabilise it. The Finance Minister assured that problems of business community would be resolved on priority basis.

He urged the business community to extend cooperation to the government in its efforts to stabilise the national economy. He said the government had to take tough decisions of withdrawing subsidies on petroleum products and power to bring the national economy on the right track.

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