ISLAMABAD: On Sunday, Finance Minister Ishaq Dar made it clear that Pakistan would not contact Paris Club creditor nations for the debt restructuring. He said that the decision was made after consulting Prime Minister Shehbaz Sharif. Dar claimed that Pakistan would pay the national sovereign debt liabilities within time. It is pertinent to mention that last month Mr Sharif had appealed to the Paris Club for a debt moratorium amid the economic losses due to floods.
During the press conference, Dar announced that they would release All Letters of Credit payments over $50,000 by November, pointing out that 4,400 Letters of Credit payments would be resolved.
Regarding the extension in the maturity of country’s international bond, the finance minister said that all bonds would be paid on time and no extension was required. Dar also talked about the IMF programme, stating that Pakistan would not re-negotiate with them and fulfill its international commitments.