Deputy Prime Minister Ishaq Dar has asserted that Pakistan would not have faced its current financial difficulties if his economic advice had been heeded in 2017. Speaking to overseas Pakistanis in New York, he reflected on the country’s economic trajectory, noting that in 2017, Pakistan was the 24th largest economy in the world but has since slid to the brink of bankruptcy.

Dar emphasized that the government has successfully prevented Pakistan from defaulting, highlighting improvements in inflation rates, interest rates, and overall economic stability during his tenure. He compared the economic landscape before the 2013 elections, when Pakistan was deemed unstable, to the subsequent recovery achieved under his leadership.

During the period from 2013 to 2017, Dar noted that inflation dropped to 3.6 percent, interest rates fell to 5 percent, and power shortages were effectively eliminated. He also mentioned significant investments made to combat terrorism, which contributed to improved security conditions. Additionally, he acknowledged that Pakistan successfully completed an International Monetary Fund (IMF) program during this time.

Dar recalled that in 2017, global financial institutions praised Pakistan’s economic progress and projected that the country could potentially join the G20 by 2030. However, he claimed that following a change of government in 2018, Pakistan’s economy weakened, resulting in a drop to the 47th position globally.

Regarding the tenure of the Pakistan Democratic Movement (PDM) coalition from 2022 onward, Dar argued that the government prioritized economic stability over political interests. He reaffirmed the administration’s commitment to supporting overseas Pakistanis, commending their contributions to increasing remittances, exports, and investments in the country.