Default risk's rumors "PTI's propaganda": Ahsan Iqbal.

ISLAMABAD -- Federal Minister for Planning Development and Special Initiatives Professor Ahsan Iqbal categorically dismissed rumors related to default risks, terming it "Pakistan Tehreek-e-Insaf's(PTI) propaganda" for mere politicking.

The minister said the country had adopted a path of stability and saved it from going to default

The minister made these remarks while addressing the Pakistani community at the Pakistani Consulate in Jeddah, where a large number of overseas Pakistanis had participated, according to a message received here on Sunday.

The government would soon introduce the death insurance scheme for overseas Pakistanis, he further apprised to participants.

'The PTI destroyed the country's economy which led to an economic crisis but the incumbent government has improved the economy by following the agreement with the IMF and for the last six months Pakistan has adopted a path of stability,' said the minister.

The news about Pakistan's default risk is based on a "malicious campaign initiated by the PTI which has no reality". The incumbent government under the leadership of Prime Minister Shehbaz Sharif succeeded in removing Pakistan from the grey list, he added.

The minister further added that Pakistan had a long-standing and brotherly relationship with Saudi Arabia which would continue with the same spirit. We want to establish CPEC-style economic cooperation...