Federal Finance Minister Ishaq Dar on Wednesday stated that the former government, in its nearly four years in power, had completely neglected the stock market and the Securities and Exchange Commission of Pakistan (SECP).
Speaking at the Pakistan Stock Exchange (PSX) ceremony, Ishaq Dar said that the stock market has a key role in the improvement of the country’s economy.
Dar emphasized that he has been associated with PSX for over 40 years and during that period, the stock exchange was the largest stock market in South Asia.
Blaming the opposition, Dar said that the SECP was completely neglected during their era.
However, the business community today is standing with the government for the development of the country, the finance minister said.
He went on to say that Pakistan will not default because the current government has everything planned and sorted.
Brushing off claims, Dar said that he is not accountable for the current economic crisis of the country, which happened due to wrong policies made before him.
Referring to the Pakistani business magnate Arif Habib, Dar explained that Pakistan’s total debt is 72% of its Gross Domestic Product (GDP) while many countries have debts higher than their GDP but still they are not defaulting.
Instead of spreading propaganda and bringing in politics, the country should be supported to get out of the vortex, Finance Minister stressed.
