Miftah Ismail, the head of the Pakistan Muslim League-Nawaz (PML-N) and a former federal finance minister, has criticized the party-led federal government and asserted that Pakistan is on the edge of “default” because risk has increased to a dangerous level.
In one of his articles, Miftah Ismail rejected the assertions made about the economy by the incumbent Finance Minister, Ishaq Dar, and stated unequivocally that Pakistan’s risk of bankruptcy has reached a dangerous level. “There is no room for error now for the government.”
Miftah Ismail added that the possibility of bankruptcy would persist even after the bonds were paid off in December. The PML-N stalwart continued by asserting that if the government does the right thing, it has no right to criticize PTI or anyone else.
In his article, the former minister described the devaluation of the rupee as a major problem in the country’s economy and wrote that today there is a large and constant gap between the open market and interbank exchange rates.
The former finance minister has advised his government that now is the time to prioritize national interests over political interests.