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Financial emergency out of question, says Finance Ministry

ISLAMABAD: Ministry of Finance ruled out the possibility of imposing a financial emergency in the country.

In a statement issued on Tuesday night, Finance Division rebutted reports of imposition of an economic emergency in Pakistan and stated that such rumours were being spread to harm the country to achieve vested interests.

“Finance Division not only rebutted the assertions made in the fake message of emergency, but also said that there was no planning to impose economic emergency,” a statement from the division read.

It said, “unfortunately the message was meant to create an uncertainty” about the economic situation in the country.

Ministry of Finance further said that spreading such false messages was against the national interest in this tough economic situation.

“The nine points mentioned in the fake message indicate how far-fetched those suggestions are,” the division said, noting that it was quite inappropriate to equate Pakistan with Sri Lanka.

The Finance Division said the current difficult economic situation was an outcome of factors like the commodity super-cycle, the Russia-Ukraine war, global recession, trade headwinds, the Fed’s increase in policy rates, and catastrophe caused by unprecedented floods.

Javed Mahmood
Written By

I am an experienced writer, analyst, and author. My exposure in English journalism spans more than 28 years. In the past, I have been working with daily The Muslim (Lahore Bureau), daily Business Recorder (Lahore/Islamabad Bureaus), Daily Times, Islamabad, daily The Nation (Lahore and Karachi). With daily The Nation, I have served as Resident Editor, Karachi. Since 2009, I have been working as a Freelance Writer/Editor for American organizations.

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