FM Qureshi stresses Pakistan’s debts restructuring to counter economic challenges

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Foreign Minister Shah Mehmood Qureshi on Monday stressed restructuring of Pakistan’s debts as it was vulnerable to economic challenges in the aftermath of coronavirus pandemic.

Chairing a high-level meeting here at the Ministry of Foreign Affairs to review the situation in the wake of Covid-19 and its impact on the economy, the foreign minister said the easing of international loans of developing countries could prove helpful in saving precious human lives and ensuring their sustainable development.

He said due to the lockdown imposed in Pakistan to contain the coronavirus, the economic activity was suspended with a decline in exports.

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The foreign minister mentioned that the proposal of Prime Minister Imran Khan for facilitation to the developing countries in payment of loans was being discussed at international forums. He directed the permanent representatives of Pakistan in New York and Geneva to make efforts in that regard.

He also apprised the meeting of his telephonic conversations with the secretaries-general of the United Nations and Shanghai Cooperation Organization, and the foreign ministers of European and SAARC countries.

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The meeting was attended by Finance Adviser Abdul Hafeez Shaikh, Federal Minister for Economic Affairs Hammad Azhar, Foreign Secretary Sohail Mehmood and senior officials of the Ministry of Foreign Affairs.

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Permanent representatives Munir Akram and Khalil Hashmi from New York and Geneva respectively attended the meeting through the video-link.

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