ISLAMABAD: Federal Finance Minister Ishaq Dar has said the government is considering buying petroleum products from Russia.
Addressing a press conference in Islamabad on Wednesday, he said that there is good news for Pakistan but cannot be announced before the FATF’s declaration. He said the inflation will start coming down in the coming weeks. He said there was a good news for Pakistan but he did not want to reveal the news before the FATF decision that is likely to come day after tomorrow.
He urged that there is no need to panic as Pakistan is not going to default. The finance minister predicted that the value of the US dollar is artificial, it will fall below 200 rupees. “Market should not need to worry, no problem will arise”, added Ishaq Dar.
He said that Pakistan will not seek debt restructuring from Paris Club creditor nations. “We will pay the bonds on time,” he said adding that we are not extending the bond maturity. To a question, he replied if he is not free to make decisions related to the economy, he will not accept this challenge.
Earlier, in an interview with international media, he said that talks with the International Monetary Fund (IMF) are progressing well and with ‘positive’ results are expected soon. Referring to the recent increase in the value of the US dollar, the finance minister said it was not a matter of grave concern and that the real value of the dollar is much lower than the current rate. He also expressed hope that the greenback would fall to its real value.