ISLAMABAD:State Minister for Finance and Revenue Bilal Azhar Kayani on Friday informed the Senate that the government had successfully steered the country away from default, restored economic stability, and was now focused on achieving sustainable growth and creating jobs.
Responding to a calling attention notice moved by Senator Ali Zafar, the minister strongly criticised the economic policies pursued between 2018 and 2022, saying repeated policy failures during that period had pushed millions of Pakistanis below the poverty line and brought the country to the brink of default.
He said the past PTI-government changed four finance ministers, while an International Monetary Fund (IMF) programme was initially rejected, later accepted on weak terms, and eventually sabotaged for political reasons.
Bilal Azhar Kayani alleged that when the PTI- led government realised it was losing power, it deliberately undermined the IMF agreement despite being aware that such actions could push the country towards default.
The minister said the present government, after assuming office took difficult but necessary decisions to revive the IMF programme, rebuild trust with international partners, and avert sovereign default. Despite resistance and repeated attempts to derail the process, he said, the government succeeded in stabilising the economy.
He said parliamentary forums such as standing committees were available for constructive engagement; however, opposition members often failed to attend meetings or contribute meaningfully to legislative work, limiting their role to speeches and television appearances.
The minister said the government remained open to constructive input and welcomed positive engagement from all sides.
He said that the government was committed to ensuring sustainable economic growth, expanding employment opportunities, and putting Pakistan on a stable and resilient economic path.