Funded, no reason to prolong elections: Ishaq Dar

Funded, no reason to prolong elections: Ishaq Dar


Allotment of funds, no apparent cause for postponement of elections: During the FY24 post-budget press conference, Ishaq Dar reaffirmed, “Insha’Allah, Pakistan will not default.”Finance and Revenue Minister Ishaq Dar said there is no reason to delay allocating the government’s allocated Rs42 billion for the elections.When asked about JUI-F chairman Maulana Fazlur Rehman’s speech concerning the next general election in the country, the finance minister made the same remark.Elections should proceed without further delay as we have provided the necessary funding. “The federal cabinet, which also has JUI-F ministers, has done its part,” Dar added, dismissing the claims.

allies deserve

Our friends and allies deserve a voice. He added that if the heads of two parties had said anything unconstitutional, it would be examined, but that this was not the case.However, he said that there is room in the constitution to delay the election.The post-budget press conference in the nation’s capital was the setting for the finance minister’s comments.Friday, the cash-strapped government published a budget of Rs14.5 trillion (approximately $50.5 billion), with more than half of that amount designated to pay down the country’s 7.3 trillion rupees in debt.

Pakistan’s economy

Pakistan’s economy is in the midst of a balance of payments crisis as the country struggles to pay off its massive external debt and months of political instability have scared away potential investors.In anticipation of a general election later this year, the government allocated over Rs950 billion for populist development projects, including pay raises for civil servants of up to 35% and an increase for state pensions of 17.5%.For the fiscal year 2023-24, Pakistan is aiming for GDP growth of 3.5%, inflation of 21%, and a fiscal deficit of 6.54% of GDP, which is somewhat below the current year’s revised forecast of 7%.

finance minister

The finance minister has also predicted economic expansion if spending goals are satisfied.The minister remarked, “If there is growth, then the wheel of the country will turn smoothly.”‘Plan-B’Finance Minister Ishaq Dar has admitted that the Pakistan Democratic Movement-led administration is preparing a “Plan-B” in the event that the International Monetary Fund (IMF) does not release the country’s urgently-needed overdue loan. Otherwise, Pakistan may default on its external obligations.There’s always a backup plan, and that’s learning to be self-sufficient and able to stand on your own two feet […] it’s not something we can openly discuss. But God willing, Pakistan won’t be in default.


Cash-strapped Pakistan, with only enough reserves to cover imports for a month, is taking steps to secure a $1.1 billion loan, part of a $6.5 billion IMF bailout package that has been delayed since November, with more than 100 days having passed since the last staff-level mission to Pakistan, the longest such delay since at least 2008.Since bilateral loans were also contingent on the IMF’s loan, it will be difficult for Pakistan to secure external financing in the absence of a rescue programme, and experts worry that the country may not be able to keep up with its foreign debt repayments.

Development Programme

As I have already stated, Pakistan will not enter default. Those who claim Pakistan will default have brought disaster upon itself. They are the primary cause of these problems. He appeared to be referring to former finance minister Miftah Ismail when he made the statement.Progress made in PSDPAccording to FinMin Dar, the government has allocated funds for healthcare, education, the social sector, and transport as part of the governmental Sector Development Programme (PSDP), a significant governmental intervention to encourage private investment through the enhancement of human capital and physical infrastructure.

Funded, no reason to prolong elections: Ishaq Dar
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