Economy in trouble but won’t default, NSC told
PM directed submitting a detailed plan regarding electric bikes to the Economic Coordination Committee. PHOTO: PID
The civil and military leadership was informed on Friday that Pakistan’s economy was in trouble but the country was not going to default.
This was the crux of the briefing given to the National Security Committee (NSC), the highest forum on national security and foreign policy. The high-powered NSC met here to discuss rising terrorism, fragile economy and the relationship with Afghanistan.
It was unusual that the NSC discussed the current state of the economy. The civil-military leadership was given a briefing on the economy since there were concerns that Pakistan might default. The country’s foreign reserves have come down to $5.8 billion this week, raising concerns of a potential default.
“We are in trouble but not defaulting,” said a participant of the meeting of NSC. The participant confirmed that the NSC was given briefing on terrorism, economy and Afghanistan.
This was the first meeting of the NSC since the change of army command and came at a time when Pakistan is facing multiple challenges including dwindling foreign reserves and the resurgence of banned Tehreek-e-Taliban Pakistan (TTP).
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A statement issued after the meeting said that an important meeting of the NSC was held on Friday under the chairmanship of Prime Minister Shehbaz Sharif.
Federal ministers, service chiefs and heads of intelligence agencies participated in the meeting.
The meeting reviewed the country's economy and law and order in detail.
Finance Minister Ishaq Dar briefed the participants about the economic situation and challenges of the country and briefed the participants about the economic strategy and measures adopted by the government.
The intelligence agencies gave a briefing on the overall law and order situation in the country and informed the meeting about the factors related to the recent wave of terrorism and the measures to deal with them.
Minister of State for Foreign Affairs Hina Rabbani Khar briefed the meeting on the situation in Afghanistan and informed about Pakistan's relations with the interim government of Afghanistan.
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The meeting expressed an unequivocal opinion that Pakistan's national interests will not be compromised and no one will be allowed to harm the key concept of national security. The core interests of Pakistan's survival, security and development will be protected with great courage, consistency and perseverance.
The meeting also paid tribute to the great sacrifices of the martyrs against terrorism, expressed sympathy and condolence to their families and collectively prayed for the elevation of the ranks of the martyrs. The NSC meeting further expressed determination that terrorists are enemies of Pakistan.
The entire nation is united on one narrative against terrorism and terrorists. Those who challenge Pakistan will get a full force response, said a statement.
The meeting of the NSC will continue on Monday, January 2, 2023, in which further decisions will be taken in the light of the proposals.